“it is going to take twice as long and four times as much money as you think to get half as far as you expected to go”
When you approach an experience investor, this thought is going through their minds. They are not casting aspersions over your competence, it is just a fact of business – things get more complex as you get closer and closer to the fit you need for the market.
“the last 10% of the plan takes 90% of the effort”
“projects always take 25% longer than you plan, even if you know this law”
“everyone undershoots their two year target and beats their five year targets. Businesses are vastly over-ambitious in planning for the near term, and under-ambitious when planning for the longer term”
There are many more such saws.
The weekend thought is this: why don’t entrepreneurs plan for these outcomes? Not planning for them leads to failure, or worse. Your brilliant idea will join the living dead: working, profitable, but unable to exit or step to the next level.
What are you doing to ensure you meet you plans? Even better, what are you doing to make your plans realistic and achievable?
Can you find help to take out the emotion, passion and enthusiasm so that you are not going to have to go back to your investor with cap in hand just before your business breaks into the big time?