1. Inadequate planning of the business

2. Inadequate planning of the business

3. Inadequate planning of the business

4. Insufficient initial capital for start-up period and development stages due to inadequate planning

Venture Financing Process: 4 Steps

1. Mistaken estimate of market demand for product or service

2. Lack of management ability

Estee Lauder: 15 Rules for Success

1. Failure to select and use appropriate outside professional advisors

2. Inability to market product or services effectively

3. Over dependence on a single individual or on a predicted specific event

4. Failure to understand capital requirements of a growing business

5. Poor timing of expenditures due to poor planning

6. Expedient rather than reasoned decision-making

Business Model

New Business Models