Business Plans For Dummies, 3rd Edition
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Two big mistakes while developing your business plan can cause your new business to fail: lack of research and lack of preparedness. Avoid becoming a failed business by making sure you don't commit those mistakes and the following:

  • Lack of a long-term company vision

  • Failure to establish clear goals and objectives

  • Misunderstanding what customers want

  • Underestimating the competition

  • Inadequate financial planning

  • Lack of strong leadership

  • Ineffective procedures and systems

  • Absence of critical business skills

  • Inability to change

  • Failure to communicate the plan

About This Article

This article is from the book:

About the book authors:

Paul Tiffany, PhD, is a professor of management at the Haas Business School at the University of California Berkeley, and an adjunct professor at the Wharton School of the University of Pennsylvania. Steven D. Peterson, PhD, is the senior partner and founder of the management tool development company Strategic Play.

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