No matter how rich you are, business plans don’t guarantee success. In fact, 99.99% of business plans fail at first contact with the market.

Why? Because most plans are based on assumptions. You assume everybody in Lagos will need your product. You assume people will line up the day you launch. But when you finally enter the market, you may discover nobody wanted what you built.

That’s why startups are not companies. Startups are searches. At this stage, you are testing reality against your assumptions. And more often than not, reality will surprise you.

The lesson? Enter with humility. Your business plan is not the truth, it is a hypothesis waiting to be tested.

Dr. Smith Ezenagu is the Chairman of Esso Group, a diversified conglomerate shaping real estate, finance, education, and media. Dr. Smith Ezenagu is recognized as a real estate & investment mogul, life coach, and private equity expert. He leads Esso Group and its subsidiaries: Esso Properties (awarded Nigeria’s Most Innovative Real Estate Company in 2024 and recognized as the best real estate company in Nigeria), Esso School of Enterprise (the leading institution equipping entrepreneurs), and Esso Capital (delivering smart, trusted financial solutions across Nigeria).