Even if venture is able to attract quality management teams and advisors, it will always be at a disadvantage versus other ventures headed by entrepreneurs who have “been there, done that” successfully in past. To compensate for this, these ventures must really know their customers, know their market and know their competition. By possessing an in depth knowledge of external factors that will effect company’s success, entrepreneurs can both create a solid business strategy and convince investors that an opportunity really exists. If opportunity truly exists, then investors know that even if venture is initially mismanaged, then they can hire additional managers later to put it back on course.

In summary, when students or first time entrepreneurs, begin developing their business strategies and plans, they must compensate for management deficiencies they possess versus established entrepreneurs. By doing this and showing a comprehensive knowledge of their market, these ventures can level capital raising playing field. Fortunately, these ventures can point to a long list of other successful companies which were launched by students and/or first time entrepreneurs most notably Google and Microsoft.

7. Time pressures and influence of internet have made us into a world of browsers, even when we’re reading brochures and other print. Unless it’s very short organise your offline text so readers who are browsing get key points very easily. Always separate technical detail and other lengthy data from main text so readers aren’t obliged to plod through it unless they want to.

8. Never be tempted to transplant text written for print into an online environment. Online text is as different from offline text as a PC screen is from paper. Because reading from screens is so unfriendly, online text must be very short and crisp and must make it extremely easy for readers to absorb key points. Don’t let web designers talk you into flamboyant graphics that could inadvertently swamp your message.

9. When you give a speech, make sure you write it for yourself and your natural way of speaking – not your (or someone else’s) idea of how an important business person should speak in public. Use a tape recorder to get an objective view of your voice, style, weaknesses and strengths. Keep sentences short with only one idea in each. Avoid telling jokes unless you’re naturally funny. And rehearse, rehearse, rehearse.

10. If you think you may be out of your depth with a business writing project (e.g. a TV commercial, major direct marketing campaign, complex video or business theatre script) you’re probably right – so call in a professional writer. Don’t risk embarrassing yourself or your organisation with an attempt that’s amateurish – there’s no shame in admitting you can't be an expert at everything!