No exit for you, Superman

Over the past few weeks, I was a judge for a couple of business plan competitions. One was the Business Professionals of America’s National Leadership Conference and the other was the Community Business Partnership’s 2011 Business Plan competition. I saw many great business ideas, but I also saw the same problem in every single plan except one: the company will be run by Superman and the owner will never die.

1. Superman. This is the owner who will do everything. Generically speaking, he works for practically nothing and can perform great feats of strength. He can...

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