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Originally Posted by cdn2wheeler  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 his desk - every single one, without exception - overestimated income and profit and underestimated expenses and time-to-market. |
That is because the people who submitted those business plans were trying to get a bank loan.