top 10 business planning mistakes

Top 10 Business Planning Mistakes #1: It’s Planning, not Just a Plan

November 9, 2010

(Note: this is the tenth and last of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, this one, the most important.) Planning is vital for your business. Start with a business plan and a regular review schedule, then track results and changing [...]

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Top 10 Business Planning Mistakes #2: Cash vs. Profits

November 4, 2010

(Note: this is the ninth of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) Make no mistake: profits are an accounting story, and cash is real money. You spend cash. Your business dies without it. Profits, on the other [...]

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Top 10 Business Planning Mistakes #3: Lost in the Clouds

November 3, 2010

(Note: this is the eighth of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) It’s not that I don’t respect talk about high-level strategy, business models, and business ideas; it’s that the high level strategy-in-the-clouds kind of planning is [...]

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Top 10 Business Plan Mistakes #4: Lowball Pricing

November 1, 2010

(Note: this is the seventh of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) Are you thinking that it’s important to offer better service, or better products, at a lower price? Forget it. That hasn’t been true since the [...]

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Top 10 Business Planning Mistakes #5: Doing It All

October 28, 2010

(Note: this is the sixth of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) Let me start this with one of my favorite quotes, from Bill Cosby wrote: “I don’t know the secret to success; but the secret to [...]

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Top 10 Business Planning Mistakes #6: Hiding Behind Market Numbers

October 27, 2010

(Note: this is the fifth of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) Planning is a lot more than just market numbers; its about what’s supposed to happen. The market numbers are nice when you have them, sure. [...]

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Top 10 Business Planning Mistakes #7: Buying Instead of Building

October 25, 2010

(Note: this is the fourth of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) It drives me crazy: I see all those ads for prepackaged business plans, with preposterous claims like “investor-proven” and “guaranteed success” and “just fill in [...]

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Top 10 Business Plan Mistakes #8: Making Financing the Goal

October 22, 2010

(Note: this is the third of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) It’s just too damn bad that so many entrepreneurs assume to start a business you do a plan, get financed, and then you start. As [...]

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Top 10 Business Plan Mistakes #9: Pitching Without Planning

October 19, 2010

(Note: this is the second of a 10-part series listing my revised top 10 business planning mistakes. The list goes from 10, the least important, to 1, the most important.) I’m guessing that the idea of doing a pitch – meaning a slide deck driving a presentation, about 20 minutes’ worth maximum – instead of [...]

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Top 10 Business Plan Mistakes, #10: It’s Not a Hurdle

October 14, 2010

I’ve decided I need a new top 10 list for business planning mistakes. This isn’t the first I’ve done and I hope not the last either, but it’s a good thing to give these lists a fresh look every so often. And this morning I do a workshop on this topic as part of the [...]

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