Business Plans For Dummies
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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 at the Haas School of Business, UC Berkeley.

Steven D. Peterson, PhD, is the founder and Managing Partner of Strategic Play.

Nada Wagner, MBA, is one of the principals of Next Wave Marketing and a professor at The Business School, Humber ITAL.

Paul Tiffany, PhD, is a professor at the Haas School of Business, UC Berkeley.

Steven D. Peterson, PhD, is the founder and Managing Partner of Strategic Play.

Nada Wagner, MBA, is one of the principals of Next Wave Marketing and a professor at The Business School, Humber ITAL.

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