Jim's blog

I just posted this on SoCal Buzz but realize this has much wider implications than just Southern California. So, I decided to re-post it here.

Senator Dodd's Financial Reform Bill is working its way through the Senate. Now I don't know many people who do not agree that we need some controls in place to ensure that the banking industry doesn't do the more of the same that helped created the crisis in 2008. Or that we really can't allow a business segment to be so big that failure is no longer an option and massive amounts of bail out money is required to stop a global financial crisis.

This is one question that I have gotten quite a bit by entrepreneurs who are currently pitching or thinking about pitching their companies. There is a lot of rhetoric out there, so I decided to see if I could find some information on my own.

Today’s Wall Street Journal Report is on Entrepreneurship with the lead article on “Why Business Plans Fail” by John Mullins. Along with his description of five common flaws, he also provides six telltale terms that should be avoided and why. A good read for any entrepreneur who is either in the process of, or getting ready to, put together a new business plan.