DetailVague, obscure, or technical – these words should never describe your
plan. Vagueness indicates inadequate research (another major pitfall)
and obscurity signals poor communication. Similarly, technical language
weighs reports down. As much as research and justification are essential
components, watch how you present your data. Make ample use of
formatting (i.e. appendix for technical explanations) to ensure smooth
readability. As well, back up all claims and include only relevant
information – there is such a thing as too much information.
RiskA crowdfunding project guaranteeing returns, advertising “no risk,”
or claiming to have no competition stands little chance of receiving
capital. Although such things sound promising, they cannot possibly be
true. All new ventures come with risk, whether that means market,
operational, technical, or legal. Instead of saying “no risk,”
realistically identify obstacles and discuss how you plan to mitigate
them. In the same vein, all businesses have competitors, so take the
time to expound your advantage.