Select One of the Following "Business Plan Mistakes" and Discuss

question 138

Essay

Select one of the following "business plan mistakes" and discuss three techniques that may help avoid this potentially fatal error.
1. Failure to explain the business opportunity clearly
2. Trying to be everything to everybody
3. Falling into the trap of capturing one percent of the market
4. Unrealistic projections
5. Forgetting the importance of cash flow
6. Overly simplistic assumptions
7. Weak competitor analysis
8. Failure to describe the company's competitive advantage
9. Counting on a low-price strategy for success
10. A sloppy plan that contains errors
11. Exaggerating the qualifications of the management team
12. A plan that is incomplete

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Definitions:

Physiological Component

Pertains to the physical aspects underpinning human functions and responses, often in the context of emotions and behavior.

Tight Jaw

A physical condition often resulting from stress or tension, leading to discomfort or pain in the jaw area.

Fidgeting

Small movements, especially of the hands and feet, driven by nervousness, impatience, or boredom.

Dream Work

A process in psychotherapy that involves the exploration and interpretation of dreams to gain insight into an individual's subconscious.