Why Business Plans Fail
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Why Business Plans Fail

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Questions and Answers

What is one of the reasons why business plans fail due to the entrepreneur's goals?

The goals set by the entrepreneur are unreasonable.

What is a common pitfall of business objectives?

The objectives are not measurable.

What is a potential issue with an entrepreneur's commitment to their business?

The entrepreneur has not made a total commitment to the business or to the family.

What is a potential weakness of an entrepreneur starting a new business?

<p>The entrepreneur has no experience in the planned business.</p> Signup and view all the answers

What is a critical oversight that can lead to business plan failure?

<p>The entrepreneur has no sense of potential threats or weaknesses to the business.</p> Signup and view all the answers

Unreasonable goals set by the entrepreneur is a common reason for business plan success.

<p>False</p> Signup and view all the answers

Measurable objectives are a common pitfall of business plans.

<p>False</p> Signup and view all the answers

Lack of experience in the planned business is a key to a successful business plan.

<p>False</p> Signup and view all the answers

Establishing a customer need for the proposed product or service is not essential for a business plan.

<p>False</p> Signup and view all the answers

Total commitment to the business or family is not crucial for a successful business plan.

<p>False</p> Signup and view all the answers

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