I'm not self employed yet, so I can't speak from first-hand experience but I did spend some time working in the banking industry. One of the fellows I worked with closely was tasked, as part of his normal duties, to examine business plans and make loan recommendations based on the plan.
In the 20+ years he did that job, he told me that every single business plan that crossed is desk - every single one, without exception - overestimated income and profit and underestimated expenses and time-to-market.
|