Before You Launch: Check Your Life, Not Just Your Business Plan

We often hear how crucial product-market fit is before starting a business. But what’s rarely discussed is the state of your personal and emotional life.

Let me share an example.

Meet Julien

Julien* wanted to start a maple syrup export business. With eight years of experience and a solid network of industry contacts, he knew the game well.

He had been unemployed for six months and was eager to start—especially with sapping season around the corner (this was late February). However, there were red flags: a poor credit score, outstanding debt, child support obligations, part-time gigs here and there, and on top of that, he was training for an Ironman competition.

“I don’t get it,” Julien said when I told him he wasn’t ready to launch. “You said I have the right experience and contacts.”

Timing Is Everything

“You do,” I replied. “But you don’t want to launch a business when your personal situation could seriously derail it. Your business has to fit within your life—not crash into it.”

Rushing into a launch without assessing your personal situation sets up too many entrepreneurs for failure. They see the opportunity but forget to weigh the risks. Their donkey-minds get blindsided by the dream.

“You do have something here,” I said, “but you need to lay a stronger foundation. Start by improving your credit score and building some cash reserves.”

“But that’ll take at least six months.”

“More likely a year,” I said. “How important is this to you?”

“Very. I’m almost desperate to get started.”

“Desperation is never a good place to start. I’m not saying everything has to be perfect—but you need at least a minimal level of readiness. You wouldn’t enter an Ironman competition without training, right?”

“Never. It’s too demanding,” he replied.

“So is building a business. Maybe even more so. The good news? If you can stick to an Ironman training plan, you already have the discipline you need.”

I encouraged Julien to reconnect in a month or two, once he had time to reassess.

Beyond Winning: How to Minimize Losing

People often lead with their “great idea” or “perfect market fit.” That’s important—but it’s only half the picture.

If business readiness is about how to win, personal readiness is about how to avoid losing.

You need both.

Personal Readiness + Business Readiness = Entrepreneurial Success

So, how does your business launch fit within your actual life? Even if the opportunity feels perfect, do you have the personal infrastructure to support it?

Red Flags That Signal You’re Not Ready (Yet)

1. A Poor Credit Score

   Especially if you're planning to seek financing. Prioritize paying down debt. A poor credit score will haunt your funding options—and no, incorporating doesn’t shield you from personal liability. A big red flag: using your credit card to fund your startup.

   
   

2. Too Many Life Demands

   School, family responsibilities, side projects—your time is finite. Your startup will demand more of it than you think. You can’t force it into a crammed schedule. You’ve got to “clear the deck.”

   
   

3. No Financial Cushion

   Do you have at least some money coming in—a part-time job, support from a partner? Do you have some savings to cushion the hard times? Can you reduce your monthly expenses? Most businesses won’t pay you in the first year. So how will you cover rent, food, and Netflix?

   
   

4. Emotional Instability

   Major breakups, family turmoil, or mental burnout don’t mix well with entrepreneurship. “Don’t take it personally” is a myth. You will take it personally. And that’s okay, but recognize the toll it can take.

   
   

Commitment, Not Confidence

You don’t need your life to be perfect before launching. But if you ignore the major red flags, you stack the odds against yourself.

Here’s a simple truth: Your business won’t save you if your life is on shaky ground.

I often hear, “I’m confident this will succeed.” I usually reply, “Confidence is nice. But I’m more interested in your commitment. What tough choices are you making next? That tells me you’re serious.”

The Iron Man Moment

When Julien called me a month later, he sounded lighter. He told me about a conversation he had with his son.

“My son’s favorite superhero is Iron Man,” Julien said. “When I asked why, he said, ‘Because he makes mistakes but doesn’t give up.’ That hit me hard. I realized it’s time for me to be that Iron Man—for him.”

He had mapped out a one-year ‘Iron Man’ training plan—not just for his body, but for his business launch.

The Long Game

Entrepreneurship isn’t just an offensive strategy (business readiness). It’s also defensive  (personal readiness). Ignore either, and you're likely to stumble.

So before you start chasing your dream, ask yourself:

What’s the long game I’m playing?

And more importantly:

Am I personally ready to play it well?

*Name and business have been changed to protect confidentiality.