Realistic planning is important because it helps entrepreneurs to:
Set achievable goals - This ensures that the objectives are realistic and attainable within a given timeframe. Allocate resources efficiently - Proper planning helps in the optimal use of resources such as time, money, and manpower. Mitigate risks - Identifying potential risks and developing strategies to manage them can prevent significant setbacks. Measure progress - It provides a benchmark against which the entrepreneur can measure the progress and make necessary adjustments.