Many starters believe that you need a business plan for the bank only. In many countries, company incorporations happen at the notary, and it requires you to submit a business plan.
The truth is that every start-up benefits from a robust business plan. So even if it is mandatory, you establish a business plan for yourself in the first place. Some service providers (accountants, business coaches, or even lawyers) offer to write your business plan. Our advice is simple: do it yourself. By establishing an in-depth document on your project, you are bound to consider all aspects of your new venture. During the process, you will discover flaws in your ideas.
Even in case you have a business coach or a mentor, we would still suggest creating the business plan yourself, and then having it reviewed by your mentor. That way, you can go back and forth to end up with a bullet-proof strategy.
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10 about the author; Erik Victor
1.
is a serial entrepreneur and started his career in Engineering
2.
currently a majority shareholder in corporations in the fields of
Industrial Real Estate, Wealth Management & Investment funds, and
International Tax Planning
3. has a passion for the dynamics of
young businesses and actively endorses several start-ups
4. is an
engaged member of several think-tanks and an international conference
speaker
5. has a business footprint in six countries
6. speaks
five languages
7. personal life - resides in Europe
8. Erik
(48) is known as a discrete and private person, a family man
9.
loves to spend his limited holidays in the mountains or at sea on his
yacht
10. Erik has no social media accounts
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