The Silent Killer of Small Businesses: It's Not What You Think
So, I was thinking about this the other day – you know what's really powerful about having a business plan? It makes you get real about where your money's going.
Here's the thing – most small businesses don't fail because they have a bad idea. They fail because they run out of cash before they start making money. When you sit down and actually map out your finances in a business plan, you're forced to figure out exactly how much money you need, when you'll need it, and what you're spending it on.
Without this kind of planning, it's super easy to underestimate what it takes to get started or keep things running month to month. But when you've got those projections in front of you and you're checking in against them regularly, it becomes so much clearer which activities are worth investing in and which ones can wait.
This kind of approach to managing your resources can be the difference between closing up shop in six months or building something that lasts.