“Good fortune is what happens when opportunity meets with planning.” ― Thomas Edison These words of wisdom can be applied to almost any and every thing in life, and especially so when it comes to emerging startups. As an entrepreneur, formulating a solid business plan should be the very first step you take towards building your enterprise. A weak business plan can be detrimental to an emerging startup even before it hits the market. It takes a lot to dream big and even more effort to put realistic numbers and plans to connect the dots between those dreams and their fruition. Hundreds of promising ideas and startups do not see the light of the day because of poor planning or lack of planning. Here are 5 ways in which a poorly thought out business plan can ruin your startup, and consequently the 5 indicators to help you recognise an impractical…
