Writing a business plan can feel a bit like putting together furniture with instructions in a foreign language—important but endlessly puzzling. While that stack of projections and market analyses sits proudly on your desk, it’s just the beginning of your entrepreneurial odyssey. Here are seven often-overlooked steps that can make the difference between launching with confidence and stumbling out of the gate.
Build Your Support Network Before You Need It
Success rarely happens in isolation. While everyone talks about mentors, we’re suggesting something broader: Create connections with other entrepreneurs at your stage, industry veterans who’ve seen it all, and professionals who can plug specific knowledge gaps. These relationships should be nurtured well before you need emergency advice at 3 AM about a supplier crisis.
Whether you make friends with the freelancer next to you at your dedicated desk in Abbotsford or attend a business mentoring group in the Sydney CBD, there are plenty of opportunities to find like-minded people. And as you build your network, all sorts of new possibilities will open up to you.
Test Your Assumptions with Real Humans
Your business plan might claim that local dog owners will pay premium prices for artisanal pet treats. But have you actually stood outside dog parks, farmers’ markets, or pet stores to verify this? Spend time in the wild with your target customers. Their unfiltered feedback might sting, but it’s far better to adjust your approach now than after you’ve invested your life savings.
Develop Systems for Everything
Even the smallest business needs sturdy systems from day one. Document every process, from how you handle customer complaints to where you store digital files. This might seem excessive when it’s just you and your laptop, but these systems will prove invaluable when you’re too busy to remember your own name, let alone train new team members.
Create a Crisis Management Plan
Every business faces unexpected challenges. Rather than waiting for disaster to strike, map out responses to potential problems: supplier failures, tech outages, PR nightmares, cyber attacks, or that moment when your main competitor slashes their prices by 50%. A crisis handled smoothly can actually strengthen your business; a crisis handled poorly might sink it.
Focus on Cash Flow Management
Revenue projections are nice, but cash flow is what keeps the lights on. Understand exactly how much money you need to launch and sustain operations until profitability. Then double that number. Build relationships with potential funding sources before you need them, whether that’s banks, investors, or that low-key wealthy aunt who always liked your entrepreneurial spirit.
Establish Clear Boundaries
New business owners often work themselves into exhaustion trying to do everything perfectly. To avoid burnout, set boundaries early: decide what hours you’ll work, what hours are off-limits, and what counts as a genuine office emergency. Your future self will thank you, and so will your family, friends, and that neglected hobby you used to love.
Build a Marketing Foundation
Pre-launch marketing isn’t something to figure out after you open your doors. Start building an audience months before launch. Create content, engage with your target market, and establish your brand voice. When launch day arrives, you’ll have an engaged audience ready to support you rather than shouting into the void.
The space between completing your business plan and opening your doors is crucial. It’s where theory meets reality, and where many promising ventures begin to wobble. Use this time wisely to strengthen your foundation and prepare for the challenges ahead.
Just don’t get too attached to the scheduling and perfecting. No amount of planning can eliminate all risks—and that’s actually positive news. Those uncertainties create opportunities for agile entrepreneurs who’ve done their homework and built strong foundations. The goal isn’t to predict every possible outcome, but to create a business robust enough to weather unexpected storms while taking advantage of opportunities other people miss.