Select One of the Following "Business Plan Mistakes" and Discuss

Essay

Select one of the following "business plan mistakes" and discuss three techniques that may help avoid this potentially fatal error.
1. Failure to explain the business opportunity clearly
2. Trying to be everything to everybody
3. Falling into the trap of capturing one percent of the market
4. Unrealistic projections
5. Forgetting the importance of cash flow
6. Overly simplistic assumptions
7. Weak competitor analysis
8. Failure to describe the company's competitive advantage
9. Counting on a low-price strategy for success
10. A sloppy plan that contains errors
11. Exaggerating the qualifications of the management team
12. A plan that is incomplete