Just a nugget.
A business idea without proper management plan is one that can be considered to be dead on arrival. Business success revolves around excellent management plan first before capital size. With a large capital chunk into any business that's lacking in proper planning, such business can inevitably collapse, turning into a wasted investment.
But on account of proper management structure on ground with even the small size of capital, it can be sustaining to such business's success in the long ... Experience should be considered as a key asset in business planning and as a key factor it's important to always involve those with experience in the area of business when planning. Never neglect this!
Of course, starting a business must have a mature planner, not haphazardly, and good financial management. In addition, I also want to add a few more things to think about before starting a business, test the market first for product iteration until it is mature, prepare an emergency fund for 6 months, this is for the worst case if it does not match the business plan. In addition, focus on 1 business until it is stable first, don't rush to start a 2nd business before the first one is stable. And no less important, don't rush to recruit many people at the beginning, do everything yourself except those beyond your capacity. Often dig for insights from customers, this is like a compass to fix our business.
if we talk about the long term, Ideally, if you want to start a business, you must have a mindset and must be able to think at least 10 years into the future, whether demand for the business still exists. Don't let us tire ourselves out building a business and then it turns out that in 10 years the demand has dropped drastically or is no longer there.