Stick to a Timeline

Honor

Aspiring entrepreneurs who worry about the risk of financial loss if they fail should set milestones to measure progress against, advises Sandy Jen, co-founder of senior-care startup Honor. An overall timeline for a new venture can serve as a boundary on how much of your resources you invest — though, the only way to know if a product or service will succeed is to build it and see if people want it, Jen says.