Let’s talk about the 10 things you don’t want to do when creating a business plan.

1. Don’t be optimistic (on the high side) in estimating future sales.
2. Don’t be optimistic (on the low side) in estimating future costs.
3. Don’t disregard or discount weaknesses in your plan. Spell them out and define how you will address these weaknesses.
4. Don’t stress long-term projections. Better to focus on projections for your first year.
5. Don’t depend entirely on the uniqueness of your business or the success of an invention.
6. Do not project yourself as someone you’re not. Be brutally realistic.
7. Do not be everything to everybody. Highly focused specialists usually do best. The small businesses I studied carved out a specific niche and stayed focused on this niche.
8. Don’t proceed without adequate financial and accounting know-how. If you don’t have it, buy it.
9. Don’t base your business plan on a wonderful concept. Test it first.
10. Never skip the step of preparing a business plan before starting.

Let me share with you some points to ponder when creating your plan . Always create your business plan before you start. If you’ve already started your business—create your plan now!

Remember being in business is not for everyone, and that’s OK. Take the time and do The Platinum Rule assessment at http://www.yourbusinesscoach.net/assessments.html to help you understand if being a business owner works. It will help you understand your strengths and weaknesses so you know how to build on your strengths and minimize your weakness. The cost is $49.99, and it could be the best $49.99 you ever spent.

Sometimes the hardest thing to do is to turn down a client. It’s better to turn down a client than to disappoint one. When someone is disappointed in a product or service, they tell, on average, nine people. When they are satisfied, they tell two people.

Do a plan and ensure you are satisfying your customers.

To your success

Ron Finklestein

Small Business Success Expert

303-990-0788

ron@akris.net