Projections in Cleantech Business Plans Should Be Reasonable
Here’s a report that predicts that a certain market, in this case, the market for Flexible AC Transmission Systems will grow to $1,386.01 million in 2018. That’s about $1.4 billion – predicted to the nearest $10,000?
This is a mistake I tell entrepreneurs not to make in their business plans, i.e., overstating the accuracy of their predictions, since it makes them look silly. We don’t have that level of certainty on events that will occur in the next five seconds, let alone the next five years. It’s like using a yardstick and claiming you’re measuring something to the nearest nanometer.
Craig,
I totally agree. In this case, I see that the report originated in the UK. I suspect that somewhere along the line there may have been an even number of British Pounds that was converted to U.S. Dollars and some editor just overlooked how silly it all looked.
Keep up the good work!
Warren