The best advice I can ever give an entrepreneur is to “fail fast”.  It may sound a little pessimistic, but just think about the numbers.  Something like 9 in 10 companies that get investment will do no better than pay back investors.  If you haven’t even obtained investment yet, the odds are higher than 90% that this will not be your big hit.

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The problem is the #1 most important part of a business plan.  It’s no accident that most business plan templates start here.  If you don’t understand the problem you’re solving , you’ll build the wrong solution.  If you don’t have the right problem, it will be very difficult to sell your product.

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