Getting to "yes" in a world of "no"…

1. You found a business plan checklist on a celebrity VC blogger’s site, and followed it right to the letter.

  • Wrong! VCs almost never invest in startups, so why on earth are you taking their stupid advice?

2. Your plan does exactly what Steve Jobs / Mark Zuckerberg / Alan Sugar / Anita Roddick / etc etc said in his/her book.

  • Wrong! Most super-rich people got there in spite of what they did to get there, not because of it.

3. You’ve got an MBA.

  • Wrong! Make money consulting for clients who have money and no brains, not for entrepreneurs with brains and no money.

4. The plan sells your business on its rational merits and a modest growth projection.

  • Wrong! People will only back your plan if they think it’ll make them stupendously rich, despite all your flaws.

5. It’s a bit of an unsexy industry, but the figures are terrifically strong.

  • Wrong! The cocktail party test = “Hey, Steve, what’s that company you’ve just invested in?”, “Oh, it’s a bit dull but…”

6. We have two patent applications pending, and a really strong IP angle going forward.

  • Wrong! Patents scare the pants off most investors, who worry they will drain the coffers dry before you’ve sold a thing.

7. Though I’m a solo entrepreneur, I have deep experience & a fantastic industry network.

  • Wrong! Angels worry that you’ll turn out to be a deluded nutter from an episode of Dragon’s Den they missed

8. I have a fantastic Advisory Board, including a former government minister & a retired general.

  • Wrong! You gave away points in your business to know-nothing idiots like that? What were you thinking?

9. I follow Lean Startup principles religiously.

  • Wrong! You’ll obviously believe any fairy-dust solution that drops in your virtual in-tray. Get real, OK?

10. I wrote it with the help of several mentors and a professional business plan writer.

  • Wrong! You’re so anxious to hand your cash to startup parasites that none if it will go towards actually making money.

Comments on: "Top 10 reasons your business plan blows chunks…" (1)

  1. […] about (both to potential investors and to yourself), because if you do somehow get funded (despite your rubbish business plan) these form the meat of what you’ll actually be doing for the next five […]

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