• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
Farnam Street Logo

Farnam Street

Mastering the best of what other people have already figured out

  • Newsletter
  • Books
  • Podcast
  • Articles
  • Log In
  • Become a Member
TweetEmailLinkedInPrint

Positioned To Run A Business, Not A Business Plan

“[M]y own common sense taught me that the human being is yet to be born who can make a rigid plan covering twelve months in the future without running into the danger of suddenly operating a plan instead of a business. If it were possible to plan for a year ahead, then there would be no need for judgment or management—any question that came up could be settled by referring to the plan. That is the trouble with a plan, especially a carefully considered plan. We are so likely by tacking the name ‘‘plan’’ on what is only a guess to give more dignity and weight to the plan than it deserves.

[…]

[At Firestone] we do the best we can to forecast, but we never fool ourselves into holding this forecast to be anything more than a guess … There is nothing wrong about guessing in business, unless you call it “estimating” and attach an undue importance to it. I want to know when I am guessing and when I am dealing with facts.”

— Harvey Firestone in Men and Rubber: The Story of Business

Lightly edited for clarity.

Discover What You’re Missing

Get the weekly email full of actionable ideas and insights you can use at work and home.


As seen on:

New York Times logo
Wall Street Journal logo
The Economist logo
Financial Times logo
Farnam Street Logo

© 2025 Farnam Street Media Inc. All Rights Reserved.
Proudly powered by WordPress. Hosted by Pressable. See our Privacy Policy.

  • About
  • Sponsorship
  • Support
  • Speaking

We’re Syrus Partners.
We buy amazing businesses.


Farnam Street participates in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising commissions by linking to Amazon.