ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mistakes to avoid when preparing a business plan include all of the following except
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providing unrealistic future projections
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wasting time on research
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ignoring the competition
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failing to define the target market
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Explanation:
Detailed explanation-1: -One of the biggest mistakes made in business plans are unrealistic financial projections. The assumption that a start-up business will immediately be profitable is often a naive mistake made by beginning entrepreneurs. Most start-up companies should anticipate being “in the red” for at least the first year of business.
Detailed explanation-2: -Not Taking the Time to Plan. Forgetting to Set Goals for Your Startup. Trying to Do It All by Yourself. Skipping the Contracts. Overspending or Underspending. Forgetting About Financing. More items
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