Research has shown that the businesses that survive the longest are those that have a solid business plan. Below, 11 members of Forbes Business Development Council delve into the most common mistakes that new entrepreneurs fall prey to when developing their business plan and offer advice on what they should be doing instead. Members of Forbes Business Development Council share what mistakes those new to entrepreneurship should avoid when developing their business plan. These assumptions then drive the business plan, and if the assumptions are not tracked explicitly, it results in a “faulty” business plan. Creating A Theoretical PlanOne of the most common mistakes is creating a theoretical business plan versus an experimentation-based plan.

Source: Forbes October 26, 2020 12:00 UTC