Via Jason Duncan, comes this excellent article from Entrepreneur on business planning. Highlights include:
- 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.
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