This is something no one wants to think of so they avoid it. Based in reality, it is better to plan for it and Risk Assessment asks What could go wrong with the plan?
What if the marketing efforts don’t bring the results you planned for. Do you discontinue, conduct an analysis, change things, get a consultation from a marketing expert, spend more, spend less. These are all options. What will you do?
On the operations side, what is the worst-case scenario that would close your doors or stop you business. Think of this now so if you see signs, you can react. The most common risk is lack of cash flow and the inability to pay bills.
You need to be aware there are risks and have a strategy to deal with them. Lacking an exit strategy to leave the business is a common mistake because everyone thinks it won’t happen to them. Startup statistics say otherwise. Being aware of the risks force you to develop options to deal with them. For example, options to keep a business running could have the owner working part time elsewhere so they are not dependent on the cashflow of the business for their own living expenses. Taking in an investor to help plan or provide cashflow is another option. Exiting the business by closing or selling is another option. Be aware there are risks and have a strategy to deal with them.