When I was in college 35 years ago getting my Accounting degree I was told that over the years many people would approach me with many opimistic business plans asking me to review and assess their projections. I was told then the quick and dirty way to review these is to cut revenues in half and double the expenses......if it still shows a profit they stand a reasonable chance of having a successful business. At the time I thought it was crazy conservative but after all of my years experience I tell you it is not too far off of being very much spot-on accurate. Most people's optimism gets the best of them and their projected revenues are almost impossible to meet and there is no doubt that most startup businesses are not even aware of many of the expenses they will incur if they stay in business and follow the laws and local ordinances. Do your homework before expending all of your time and money into a business. Once you do commit to a plan be diligent in following through with the required effort to succeed.
