The Good – the Bad – and the Reality… okay, seriously now, we are not ones to like the word ‘realistic’ much because it is so subjective. However, there is a big difference between realistic and reality. You might not see a direct path to your destination, and therefore, conclude that it is not very realistic. However, the reality is that if someone ever has done something remotely similar, then the reality is that the thing you are presented with is indeed possible. This means that your use of the word realistic needs to be used with caution.

Here is an example: suppose you have worked for a company your whole life and are now 47 years old and looking at your finances. You still have a mortgage, two children to complete college or university, a line of credit with an outstanding balance, and your combination of pension and retirement savings barely totals your annual income when you add it all up. Furthermore, you have been at the job for 20 years and the possibilities for advancement are nominal at best. You have contemplated starting a business manufacturing widgets, something you have tinkered with for years, however you barely have money available at the end of the month to put anything aside as it is – you certainly don’t have money to start a company. The very idea of starting a company at this stage of your life is ‘unrealistic’. Or is it?

Has anyone in those circumstances ever started a successful business? Sure they have. Therefore, the reality is that you are afraid you might fail, and therefore, have instead justified your fear under a mask of ‘realistic’.
The reality is that if you have the vision and commitment, you can put plans in place. You can work with others who have done something similar so that you take one step at a time. Perhaps starting with the plan including cash flow forecasts so you can see how much money your project will take, and over what period of time, and what your return on your investment will provide you if you are successful in following through on your plans.