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small-bizXpress

Articles and opinions on small business and entrepreneurship

10 Business Planning Mistakes You Should Avoid

Friday, July 22, 2005

Excellent article from Entrepreneur on business planning. Here's a list of some of the more common business planning mistakes you should avoid:
  • Don't put off writing a plan.
  • Don't confuse cash with profits.
  • Don't dilute your priorities.
  • Don't overvalue the business idea.
  • Don't confuse a plan with the act of planning.
  • Don't fudge the details in the first 12 months.
  • Don't sweat the details for the later years.
  • Don't create absurdly optimistic "hockey stick projections" of sales taking off in the near future.
  • Don't write too much.
  • Don't sweat the formatting details.

Full article: 10 Biz Plan Blunders
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Business Plan Template - from Microsoft

Tuesday, July 05, 2005

Writing a business plan is one of the most important tasks in the process of doing a startup. While some might get away with explaining the business on a cocktail napkin, the others need to think through what investors will be asking.

Yet another business plan template, this time from Microsoft, in the popular MS Word (97 or later) format to help you out with composition of a generic business plan.

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