Thank you Chris , I see you using my name thank you for the compliments. I see lots of good things in all of these posts and strongly agree with validation. Market research is important but we think the better research is done with actual potential customers. We see research as a do it profitable action.
We believe too much time is spent on guessing. Our standards are particular to successful industry types in stages of worth categories, incomes, expenses, and ratios based on over 20 years of experience.
We also realize each company is different but have similarities to others. Our experience and industry research shows over 90% of businesses that fail have a non existent, or a poor financial projection plan, or do not adhere to a budget. For that reason these companies operate on a narrow margins of cash and can become desperate.
Many financial plans I see are based on hockey stick projections of making huge profits that attract VC types. It is 99% more likely that a company will not use VC or Crowd types of funding because of costs, available funds, or funds offered. For that reason we find a conservative approach alongside a good marketing plan work best over product development to build rapid profitability still leaving the hockey stick as a possibility.
Investors want to see goals met or exceeded and a good plan is the basis for good business.