What is the most common mistake people make in business plans?
In my opinion, people make three major mistakes. The first is the failure to clearly express what it is you want to do – your plan needs to be comprehensible to anyone. The second is the failure to verify that your ideas will work in the market. The third is the failure to quantify the projects financial needs. The plan must be ambitious, but you must have a contingency plan in order to correct future errors. A business plan must guide the company. Therefore, the closer you are to reality, the fewer difficulties you will encounter. I have a brilliant idea and I want to start a business. What should I do? What steps should I take? Its important to verify and develop your ideas. It takes months – not days – to draw up a business plan. To formally put your ideas to work, you need to find the right people to work with you. You need people who know what your limitations are, in terms of human and financial resources. You need to find external solutions to overcome these limitations. Turning
