When enterprising individuals sit down to create a business plan for the first time, they need to check a few points. There are abundant guidelines to help them on their track, but none to warn them against the wrong policies. It is essential to avoid these mistakes in order to create a business plan that will truly take your business forward.

You should resist an undue optimism when you create a business plan. Make very conservative estimates while predicting future sales, profits, capital requirements and timelines. It is the rare business plan that accurately anticipates how much resources and time will be required. Exercise extreme caution while predicting the future costs, or you might have to discard the plan midway.

Avoid the technical jargon; your language should be simple and easy to understand. Don