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Business Plans Don’t Need to Be Over Academic
Many entrepreneurs write research reports instead of strategic business plans. They write dozens of pages about the market, the competition, SWOT analyses (Strengths, Weaknesses, Opportunities, and Threats), industry analyses, and detailed financial projections. Or, they use strategic jargon that they read from a smorgasbord of so-called gurus: “five-part competitive analysis,” “first-mover advantage,” “sustainable competitive advantage,” “leveraged revenue model,” and on and on, ad nauseum.Unfortunately, these analyses do not have much to do with getting out into the marketplace and attracting new business. They are interesting, and might get an “A” in a business school class, but they don’t guarantee results.
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