Chapter
The Importance of Realistic Budgeting for Small Business Owners
26:30 - 31:10 (04:40)
Small business owners often make the mistake of presenting optimistic financial projections to banks when applying for loans. It's important to be realistic and include best and worst case scenarios.
Clips
The host discusses how paper net worth can be an illusion and how it can go away in an instant, leaving you with nothing.
26:30 - 27:58 (01:28)
Personal Finance
Summary
The host discusses how paper net worth can be an illusion and how it can go away in an instant, leaving you with nothing.
ChapterThe Importance of Realistic Budgeting for Small Business Owners
Episode859 How to Build a Multi-Billion Dollar Empire with Tilman Fertitta
PodcastThe School of Greatness
The issue with creating best case scenarios in business is that people tend to drink their own Kool-Aid and believe that they will hit those numbers, when in reality unforeseen circumstances can always arise.
27:58 - 31:10 (03:12)
Business
Summary
The issue with creating best case scenarios in business is that people tend to drink their own Kool-Aid and believe that they will hit those numbers, when in reality unforeseen circumstances can always arise.