Avoid Business Plan Traps

As readers are aware from my various blogs, including one recently, using software and templates is definitely a major trap that doesn’t help business plans get funded as much as it hinders. There are many other common mistakes in business plans that professionals and non-professionals alike send to us for help with funding or for advice on how they could be improved. Most are missing a great Executive Summary that is required by a majority of investors before they even look at a business plan. Again, a major lack is a great forecast that contains a true cash flow, namely a month-to-month forecast for 1-2 years to demonstrate increasing revenue and proportionate sales and, therefore, a true break even point. Most plans we receive don’t include a detailed marketing and/or competitive analyses that can draw definitive conclusions for your forecast as to your market share, market penetration and price points. Lastly, a targeted and specific marketing plan within the framework of competitors’ marketing efforts is often missing from plans we receive.

We continue to load our soon-to-be launched web site with more details on traps to avoid and content that should be provided at http://thebusinessplanconsultants.net/toptenbusinessplantraps.html and www.thebusinessplanconsultants.net.

Feel free to contact me with any questions at tim@thebusinessplanconsultants.com.