Here are 5 reality checks every entrepreneur needs to hear
After many years of writing business plans for small businesses, I've learned some hard truths - and now I'm sharing them with you. Here are 5 reality checks every entrepreneur needs to hear:
Your "groundbreaking idea" might need a reality check. Running the numbers forces you to face facts – sometimes your plan to launch a premium water delivery service for houseplants isn't the goldmine you imagined.
Hope is not a strategy, and "everything will work out" is not a financial forecast. Nothing makes you grow up faster than mapping out exactly where every dollar comes from and goes.
Your competition isn't just sitting around eating bonbons. Research shows you exactly who's gunning for your customers – and spoiler alert: it's more players than you thought.
"Everyone" is not a target market. Writing a business plan makes you get real specific about who's actually going to buy your stuff. Hint: if your mom is your only guaranteed customer, we need to talk.
A cookie-cutter business plan will collect dust, but a customized strategy that really digs into your business? That's pure gold. The magic isn't in the template – it's in the thinking, planning, and insights you discover along the way.
What's the biggest lesson you learned from writing your business plan? Drop it in the comments! 👇
Need help crafting your business roadmap? I help small businesses turn ideas into actionable plans. Let's chat!