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| Top 10 Mistakes
in Business Plans |
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- Too Darn Long
- Elevator pitch: one minute
- Executive Summary: 2-3 pages
- Poor Positioning
- No validation
- Your Solutions and/or technology are looking
for a problem to solve
- Invisible solution
- Lack of Focus
- If you have multiple opportunities, break them
down into phases instead of implementing them all at
once
- Not Enough Real World Market
Analysis
- Use bottom up numbers, not top down
- Prepare a logical growth rate
- Prove you have a reachable market - go after a significant
piece of a market
- Do not prove the obvious
- No Business "Cockpit
Guages"
- What are the top three drivers or metrics of
your business?
- Unclear Business Model
- How will you make money?
- What is your path to profitability?
- Oblivious to the budget cycle and sell cycle
- Oblivious to adoption and implementation time
table
- Too dependent on others
- Scalability - how will you get that big?
- Poor or Incomplete Competitive
Analysis
- You always have competition
- Not Disclosing all the
competition
- Do your homework
- Weak Term Information
- It is a TEAM effort
- Admit you have holes
- Out implement
- Poorly Defined Leverage
Points
- You cannot do it alone
- Who has vested intrest in your success?
- What are your leverage points?
- Goofy Fundementals that
Distract
- Do the basics right the first time
- Get "adult supervision"
- Use specialists
- Look like a "standard" venture capital
deal
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