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Top 10 Business Plan Mistakes to Avoid

Getting a new business off the ground is never easy.  Increase your chances of success by avoiding these common business plan mistakes:

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1. Giving top-down financial projections

Don’t base your entire business plan on capturing a certain percentage of the market.  Your investors will think that you are being far too optimistic, and your chances of raising capital will be scuppered with just one question. What if you don’t achieve that market share?  Show your investors you’ve thought about this by explaining exactly how you’ll grow your market share, and giving detailed timelines and projections.

 

CLICK HERE TO THE OTHER 9 BUSINESS PLAN MISTAKES YOU NEED TO AVOID IF YOU WANT ANY CHANCE OF SUCCESS IN YOUR STARTUP

Image credit: CC by emdot

About the author: Under30CEO

Under30CEO is the leading media property for entrepreneurs, inspiring the world’s next generation of business leaders. Under30CEO features direct interviews with the most successful young people on the planet, profiles twenty-something startups, provides advice from those who have done it before, and publishes cutting edge news for the young entrepreneur.

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