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Tips for Putting Your Plan Together

1. Don't over diversify your venture. It's a plan-not a portfolio.

2. Identify and discuss key personnel-at length.

3. Describe your product in layman's terms. Don't use jargon.

4. Focus on the market and your product's ability to fill the demand.

5. Be painfully realistic. For example, don't overstate sales.

6. But… don't dwell on the numbers.

7. Discuss possible problems and planned steps to correct them.

8. And remember… a business plan that describes an insurmountable market position… is by definition written by naive people.

Next section: Choosing a Legal Structure, pt.1: The Sole Proprietorship and the Partnership



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