If you are anything to start a new business, it is best to have a plan. The first mistake is to not think of one, or think you do not need. The business plan is not only to present to investors, also serves the entrepreneur, to have clear objectives. Here are 5 common mistakes to avoid and easy when you compose your business plan.
1. Do not Focus on a Single Model
Think about the industry that focuses your business and concentrate on it. Do not go around the bush or try to cover many industries simultaneously. It is best to have a specific goal and toward a single market, thus all better align: your sales prospects, your target, even your ideas.
2. Do not Care that the Writing is Smooth
In this respect two things worth caring with special emphasis: the spelling first, because it is synonymous with how much attention you put into things that have to do with your new venture. Second, do not be repetitive. Try not build the same idea sometimes even in different sections. It is best that you give a concrete follow what you write and have each section clearly defined functions to avoid repeating ideas, although with different words.
3. Do not be Consistent in Figures
Ideally put due attention to the figures for market, sales projections and other information on consumers. Have a rigorous research process and ask yourself the most realistic economic scenario possible. When speaking of future goals, returns on investments, gains and losses, do not go through the roof, nor be overly optimistic. Not the same stay realistic lose hope to make the business work, but precisely in order to do so, you must be clear in the figures.
4. Focusing too much on the Product and Forget the Marketing Plan
The product is important, but do not spend all energies in noting their strengths and benefits almost over ignoring the fate of the same: the customer. Give space to your marketing plan and how you plan to approach consumers, where are and how you bring them to the market. Do not leave out important aspects to focus exclusively on others.
5. Do not give your Personal Touch
At the end of the day, is what will make you stand out. No impart personality to the business plan is a mistake, because they are the things that make you different (and your company) that matter. You should have enough confidence in yourself to know what times you can get creative. Do not remove solemnity and seriousness to the plan, especially if you are going to present themselves to investors, but do not be afraid to highlight give a different from other touch.
