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    Do not confuse cash with profit. Cash is the flowing money you spend to buy inventories. Profits are an accounting concept gained after much sweat in busine
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    You do not need a great idea to start a business. A successful business needs time, money, perseverance, and loads of common sense. It is hard to sell a new idea to investors, but an existing one followed diligently can bring profits. There are some common pitfalls that should be avoided while making the business plan.

    Mistakes to avoid in business plans:

    1. Write down the plan. Prepare a written draft of your business plan. It should be short and concise, containing all the elements of the business in steps. Keep it current and updated. Keep the main points simple and highlighted for quick reference.

    2. Do not confuse cash with profit. Cash is the flowing money you spend to buy inventories. Profits are an accounting concept gained after much sweat in busines

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    idea to investors, but an existing one followed diligently can bring profits. There are some common pitfalls that should be avoided while making the business plan.

    Mistakes to avoid in business plans:

    1. Write down the plan. Prepare a written draft of your business plan. It should be short and concise, containing all the elements of the business in steps. Keep it current and updated. Keep the main points simple and highlighted for quick reference.

    2. Do not confuse cash with profit. Cash is the flowing money you spend to buy inventories. Profits are an accounting concept gained after much sweat in busine

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    plan.

    Mistakes to avoid in business plans:

    1. Write down the plan. Prepare a written draft of your business plan. It should be short and concise, containing all the elements of the business in steps. Keep it current and updated. Keep the main points simple and highlighted for quick reference.

    2. Do not confuse cash with profit. Cash is the flowing money you spend to buy inventories. Profits are an accounting concept gained after much sweat in busine

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    containing all the elements of the business in steps. Keep it current and updated. Keep the main points simple and highlighted for quick reference.

    2. Do not confuse cash with profit. Cash is the flowing money you spend to buy inventories. Profits are an accounting concept gained after much sweat in busine

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    Do not confuse cash with profit. Cash is the flowing money you spend to buy inventories. Profits are an accounting concept gained after much sweat in business. Delayed customer payments could cripple your financial situation but will not harm the profit. Plan to build an emergency cash fund to survive hard situations. Cash flow is critical; make a cash flow table in your business plan.

    3. Do not dilute priorities. Focus on three to four main priorities and work on them to strengthen the business plan. A plan listing twenty priorities will never be able to take off because of an unfocused approach.

    4. Do not overvalue the business idea. An idea on paper may look very lucrative but be a disaster in real life. It takes human power to shape it. Building products, ship

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