5 common flaws in business plans

06/23/2009 | Wall Street Journal, The

Low costs, plentiful talent and bargain-hunting customers make this a good time to start a new business, says London Business School professor John W. Mullins, in offering five mistakes to avoid in writing a business plan. Among Mullins' tips: Clearly define the problem a product or service addresses, develop a strategy for gaining market share and identify how the company can achieve identifiable success factors.

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