Are there really certain words or expression you shouldn’t use in your business plan? The Wall Street Journal seems to think—and we agree. In an article that you should absolutely read if you’re working a business plan, the Journal gives its list of thing you should never say—and most are right on point:

-”Huge.” As in your market is “huge” or that your opportunity is “huge.” Says the Journal: “Translation: The writer hasn’t bothered to get reliable data on the market size, or has failed to think carefully about the initial target market, which almost always should be quite narrow.” To which we’d add that you should probably just avoid all superlatives in general. They make investors’ heads hurt.

-”Revolutionary.” Unless you’re inventing the next iPhone, you probably shouldn’t use grandiose words and phrases like “revolutionary” or “game changing.” We agree with the Wall Street Journal when they say that such words suggest that, “We are so enamored with our idea that we have not thought clearly about how to distinguish it from the other approaches and are not interested in what the customer thinks of it. Customers simply aren’t visionary enough to fully appreciate our technology.” While that may be going a biiiit far, we share the sentiment.

-”No competition.” This one’s our huckleberry. No matter what you may think, nearly every business has one form or another of competition. It just might not be obvious. “If there’s a single phrase that can send a business plan directly into the trash, this is it,” writes the Journal. “Of course you have competition! To prospective investors, perhaps surprisingly, competition may be a good sign, as it suggests that there’s a problem that someone besides you thinks is worth solving.”

While we think those are dead-on, the Journal took issue with a few that seemed a bit shakier to us. For instance:

-”Conservative.” According to the Journal, “Investors know that initial sales numbers—never mind the profits—rarely pan out. So, let the numbers speak for themselves, based on the evidence you’ve gathered.” While it’s quite likely that investors will assume that the numbers you’ve forecasted are conservative (and they should be) we see nothing wrong with driving the point home that you haven’t projected insane figures.

-”Assumptions.” While the Journal says: “If you’re ‘assuming’ most of your numbers, you’d better stop now,” we don’t know that there’s really any good way to create financial projections other to assume them. There’s no way you’re getting realistic figures on a first pass for a business that hasn’t yet started. Some educated guessing’s just part of the game.

What do you guys think? Are there other phrases or words that should be stricken from business plan vernacular? Tell us what you think in the comments section below (pretty please)!

Tags: business plan