Waiting for the Perfect Plan? Here’s Why ‘Good Enough’ is Better
Waiting for the Perfect Plan?
Here’s Why ‘Good Enough’ is Better
Are you delaying your capital-raising efforts because your plan isn’t perfect? Perfectionism might be the enemy of progress.. 👊
Today's Case Study:
Meet Emma...
Emma spent months tweaking her business plan, convinced that it had to be flawless before she could approach investors. But as the months dragged on, so did the opportunities.
Finally, she decided to take a leap of faith and pitch her plan, imperfections and all.
The response?
Investors appreciated her transparency and were more interested in her adaptability and willingness to learn than in the minutiae of her plan.
Something To Consider:
New real estate investors often delay raising capital, believing their business plan must be perfect.
However, investors are more interested in the project's potential and the investor's confidence than in perfection.
Taking action with a well-prepared, though imperfect, plan is often more effective than waiting for flawless execution.
Actionable Steps:
Here is a quick checklist to get you started with raising capital. Remember imperfect action beats inaction, get started and keep going.
Set a Deadline: Give yourself a strict deadline to complete your business plan and stick to it. It’s better to start pitching than to wait for perfection.
Focus on Core Elements: Make sure your plan covers the essentials—project vision, financials, and market strategy—without getting bogged down in details
Be Open to Feedback: Use your initial pitches as opportunities to gather feedback and refine your plan. Investors will appreciate your responsiveness.
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