Killer Business Mistakes

Mistake 2 - Make it difficult to understand your business and marketing plans!

Make it difficult for investors, suppliers, business partners to understand your business and marketing plans!

Tip 3 

Write your business plan from their point of view.

How?  

Make sure your plan clearly answers 5 key questions:

1. What is your product or service?
2. How will you deliver it?  (include an operational plan).
3. Why will people buy from you and not your competitors?
4. How much will your product or service cost to deliver, how much income will you generate and when?
5. How much capital will you need and when, and how much will you contribute?

Tip 4

Project your income / costs realistically for the next three years, and work out when you will break even.

Why? 

Most businesses rarely break even in the first year. Investors will want to see that you are forecasting that not only you will make a living from it, but so will they!

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