1	00:00:03:23	00:00:06:16

Johan, to start it off with you.



2	00:00:06:19	00:00:11:00

Entrepreneurs, when they start in general

and have just kicked off their business



3	00:00:11:03	00:00:13:21

what in general should they be mindful of?



4	00:00:13:24	00:00:17:10

I think there are a lot of things

that you need to be mindful of.



5	00:00:17:13	00:00:19:21

Once you actually start the business



6	00:00:19:24	00:00:23:11

there's all kinds of processes

that you need to work with.



7	00:00:23:14	00:00:27:01

You need to know where you're going.



8	00:00:27:04	00:00:30:03

You need to keep your eye on the direction

you want to go in with your business



9	00:00:30:06	00:00:33:00

but you need to set everything

in place and in motion.



10	00:00:33:03	00:00:35:14

I think that's the most important step.



11	00:00:35:17	00:00:40:05

Get your clients,

get your paperwork up and running



12	00:00:40:08	00:00:43:09

and start going in the direction

you want to go in.



13	00:00:43:12	00:00:46:11

And what type of aspects come with that:



14	00:00:46:14	00:00:49:22

setting up your business

and getting the legal work done?



15	00:00:50:00	00:00:54:06

Well, I think the most important one

is setting up your taxes.



16	00:00:54:09	00:00:59:10

So at that point,

get your money streams in order.



17	00:00:59:13	00:01:05:04

I think for most start-up companies,

that's the most important part.



18	00:01:05:07	00:01:10:00

But once that's taken care of, then it's

going to be doing the actual business



19	00:01:10:03	00:01:13:10

getting out there,

get your name known, get your clients



20	00:01:13:13	00:01:16:13

and start doing what it is

that you're good at doing.



21	00:01:16:16	00:01:21:08

Great. So these are all aspects that we

will zoom in on later on in this webinar.



22	00:01:21:11	00:01:25:11

But first, let's meet our entrepreneurs.

Welcome to both of you.



23	00:01:25:14	00:01:30:02

Geta, to start off with you,

you have founded a really special company



24	00:01:30:05	00:01:32:13

around a special baby product.



25	00:01:32:16	00:01:36:14

Special baby carriers for especially

small babies, if I remember correctly.



26	00:01:36:17	00:01:41:00

Could you elaborate?

-It is a pretty niche business.



27	00:01:41:03	00:01:44:08

We're looking at really



28	00:01:44:11	00:01:48:08

changing the care approach to new-borns



29	00:01:48:11	00:01:52:12

to children actually

in their first thousand days of life.



30	00:01:52:15	00:01:58:13

It's all evidence-based.

And yeah, it started around a baby carrier



31	00:01:58:16	00:02:04:18

but it's actually a much larger

angle towards what we're doing.



32	00:02:04:21	00:02:08:01

Maybe to explain it a bit more,

we can watch this video you made.



33	00:02:08:04	00:02:11:17

Yeah, I think that would be easier

for people to understand.



34	00:02:11:20	00:02:15:00

Hi, I am Geta.

I am the founder of Babymoon Care



35	00:02:15:03	00:02:20:22

and we are working to change infant care

to an attachment model all over the world.



36	00:02:21:00	00:02:26:16

I started as an entrepreneur

overall in baby carriers.



37	00:02:26:19	00:02:31:14

It was 2006, I had my first son,

so I started wearing my son.



38	00:02:31:17	00:02:33:22

I was in love with the concept of that.



39	00:02:34:00	00:02:38:12

And step by step, I would figure out

all the benefits that brought to me.



40	00:02:38:15	00:02:44:13

2006 until 2010,

I was just making baby carriers.



41	00:02:44:16	00:02:48:05

I wanted to not do the business, but then



42	00:02:48:08	00:02:53:01

the world told me like:

No, we need you to do this.



43	00:02:53:04	00:02:57:11

That's when I started working

with the maternity hospitals in Moldova



44	00:02:57:14	00:03:01:23

and working more on a system

of care rather than just a device.



45	00:03:02:01	00:03:06:20

Babymoon is actually a much more complex

system than just a carrier company.



46	00:03:06:23	00:03:10:22

I come from Moldova, 

I am in the Netherlands since 2016.



47	00:03:11:00	00:03:14:12

Since then there was

a lot of groundwork covered.



48	00:03:14:15	00:03:19:15

And now we're working

in the Scandinavian region and Benelux



49	00:03:19:18	00:03:22:20

and we have a big,

important project coming up



50	00:03:22:23	00:03:25:05

with Tanzania and Kenya



51	00:03:25:08	00:03:28:20

and that's done together

with the United Nations.



52	00:03:28:23	00:03:32:09

So we have a lot of stuff going on.



53	00:03:33:12	00:03:37:10

Back in the time when I came up with

the concept, for me this was just fiction.



54	00:03:37:13	00:03:39:07

And here I am in the Netherlands



55	00:03:39:10	00:03:44:05

and here I am, connected by the Dutch

entrepreneurial environment



56	00:03:44:08	00:03:46:09

to the United Nations.



57	00:03:46:12	00:03:50:08

And here I am making that fiction

that I came up with



58	00:03:50:11	00:03:52:14

four years ago, a reality.



59	00:03:52:17	00:03:56:10

So that's mind-blowing to myself even.

But aside from connections like this



60	00:03:56:13	00:03:59:04

you get really huge opportunities



61	00:03:59:07	00:04:04:06

and there are so many more doorways

opened to build a global business.



62	00:04:04:09	00:04:06:08

So that's valuable.



63	00:04:09:24	00:04:14:07

Geta, how would you characterise

the current state that your company is in



64	00:04:14:10	00:04:17:11

and in a nutshell, how did you get there?



65	00:04:17:14	00:04:20:11

In a nutshell, it took a lot of effort



66	00:04:20:14	00:04:26:17

and a lot of research and adapting

to the environment where I ended up.



67	00:04:26:20	00:04:30:11

But the current state would be like



68	00:04:30:14	00:04:36:10

we're right about to take off.

So that's pretty exciting.



69	00:04:36:13	00:04:38:17

That's super exciting.

Congratulations.



70	00:04:38:20	00:04:43:03

And Karim, to introduce you,

you have, if I remember correctly



71	00:04:43:06	00:04:45:13

an online platform

for expats in the Netherlands



72	00:04:45:16	00:04:47:23

so they can connect to each other.



73	00:04:48:01	00:04:52:00

How would you describe your rise to the

stage that your company is at right now?



74	00:04:52:03	00:04:56:10

Actually, it started off as a hobby

just doing events and meetups for expats



75	00:04:56:13	00:04:59:22

because it's hard to move to a new

country with no friends and no network.



76	00:05:00:00	00:05:03:12

It started to grow as a hobby and

we started to do bigger and more events.



77	00:05:03:15	00:05:06:07

And then we became also more online,

with the pandemic



78	00:05:06:10	00:05:08:12

and we have articles and webinars.



79	00:05:08:15	00:05:13:04

That's how we grew and we got a lot of

attention and people started contacting us.



80	00:05:13:07	00:05:17:22

Amazing.

Let's also watch your video.



81	00:05:18:00	00:05:22:21

I'm Karim Sabri, I'm from Canada and

the name of my company is Expat Republic.



82	00:05:23:24	00:05:27:20

We are an English media company

based in the Netherlands



83	00:05:27:23	00:05:31:03

and we provide content and events

and knowledge for expats



84	00:05:31:06	00:05:34:00

to make their life fruitful and enjoyable



85	00:05:34:03	00:05:38:01

while they're in the Netherlands,

to help them also grow their network.



86	00:05:38:04	00:05:40:04

In fact, it was a hobby.



87	00:05:40:07	00:05:44:24

I noticed that a lot of expats didn't have

many friends, they didn't have a network.



88	00:05:45:02	00:05:47:17

So I stepped in

and I enjoyed organising events



89	00:05:47:20	00:05:50:06

so I just started doing loads of

events and meetups



90	00:05:50:09	00:05:53:20

to kind of help them

not be lonely, essentially.



91	00:05:54:22	00:05:59:07

We try and cover all walks of life

for expatriates and internationals.



92	00:05:59:10	00:06:02:18

So, for instance, we will have

a Basics of Investing webinar.



93	00:06:02:21	00:06:05:14

We will have a seminar

about buying your own home.



94	00:06:05:17	00:06:10:16

We will just do drinks, like super easy,

just so people can meet and connect



95	00:06:10:19	00:06:12:24

and grow their personal and social network.



96	00:06:13:02	00:06:16:18

So you want to kind of give them

that feeling of being at home.



97	00:06:16:21	00:06:19:02

The way we make money is very simple.

It's a media company



98	00:06:19:05	00:06:22:04

the same way a magazine

makes money: with advertising.



99	00:06:22:07	00:06:24:24

But the idea is

it's a sort of smart advertising.



100	00:06:25:02	00:06:26:22

It's helpful, it's knowledgeable.



101	00:06:27:00	00:06:30:09

It's not inconvenient or intrusive.



102	00:06:30:12	00:06:34:05

We really like to transfer knowledge

to our audience or transfer something nice



103	00:06:34:08	00:06:36:04

so they have a good feeling, right?



104	00:06:36:07	00:06:39:10

And so as a partner

that will like to do that



105	00:06:39:13	00:06:43:23

to provide that to an international

audience, we're the perfect vehicle.



106	00:06:44:01	00:06:47:14

So for me, the Netherlands is

an incredible place to be an entrepreneur.



107	00:06:47:17	00:06:50:08

Loads of opportunities,

easy to do business in



108	00:06:50:11	00:06:52:17

very direct, very honest,

very straightforward.



109	00:06:52:20	00:06:58:14

Lots of opportunities,

access to capital, access to labour force



110	00:06:58:17	00:07:01:18

a good system in place

that makes doing business very easy.



111	00:07:01:21	00:07:03:08

And you can also do it in English.



112	00:07:04:06	00:07:08:08

Karim, are you also planning on

professionalising your business further?



113	00:07:08:11	00:07:11:20

Of course, we're always looking to grow.

We're already quite professional.



114	00:07:11:23	00:07:16:23

We're of course looking to grow and to

expand to other European countries as well.



115	00:07:17:01	00:07:22:08

And are you also looking then to maybe

turn it into a different legal structure?



116	00:07:22:11	00:07:26:00

Yeah, of course. That's probably

something we should have done already



117	00:07:26:03	00:07:27:19

but everything has its time.



118	00:07:27:22	00:07:31:08

I just want to make sure that things are

done in a structured way that works for us



119	00:07:31:11	00:07:34:22

and that we can continue to grow

with a good foundation properly.



120	00:07:35:00	00:07:37:24

So you are indeed looking to see

maybe if you can change that.



121	00:07:38:02	00:07:40:16

Because when starting a business,

also growing a business



122	00:07:40:19	00:07:42:13

that legal structure can change.



123	00:07:42:16	00:07:46:22

So that's a really important aspect that we

will also dive into later on in this webinar.



124	00:07:47:00	00:07:50:08

Thank you so much.

But maybe before we dive into that deeper



125	00:07:50:11	00:07:52:05

Johan, could you explain to us



126	00:07:52:08	00:07:54:16

what different legal structures

there are in the Netherlands?



127	00:07:54:19	00:07:58:02

There are quite a few

legal structures that you can choose from.



128	00:07:58:05	00:08:00:17

I think the most well-known 

are the sole proprietorship



129	00:08:00:20	00:08:02:11

in Dutch called the 'eenmanszaak'



130	00:08:02:14	00:08:07:11

which is the legal form most start-up

businesses choose when they register.



131	00:08:07:14	00:08:11:20

But there are legal structures

for partnerships, that's also possible.



132	00:08:11:23	00:08:16:04

And you have the possibility

to register a legal entity



133	00:08:16:07	00:08:22:13

the most common being

the liability company, the BV.



134	00:08:22:16	00:08:27:20

What is the main difference then

between a sole proprietorship and a BV?



135	00:08:27:23	00:08:33:05

I think there are two. They're

different when it comes to liability.



136	00:08:33:08	00:08:36:02

As a one-man business,

you're personally liable.



137	00:08:36:05	00:08:39:21

As a legal entity, you're not.

So that's a huge difference.



138	00:08:39:24	00:08:42:24

On the other hand,

when it comes to taxes



139	00:08:43:02	00:08:46:05

and you're a start-up business,

you might benefit just a little more



140	00:08:46:08	00:08:50:16

from the sole proprietorship

than you would as a legal entity.



141	00:08:50:19	00:08:53:15

So, when should you review

your legal structure in that case?



142	00:08:53:18	00:08:56:19

I'd say that once you start growing



143	00:08:56:22	00:08:59:24

the business starts increasing,

there's more money going around



144	00:09:00:02	00:09:02:19

your liability becomes a bigger issue



145	00:09:02:22	00:09:05:12

and you might want to

start working with staff



146	00:09:05:15	00:09:09:21

all elements that increase your liability



147	00:09:09:24	00:09:14:23

that could be a point at which

you make the change into a legal entity.



148	00:09:15:01	00:09:17:08

And I would also say, look at taxes.



149	00:09:17:11	00:09:20:21

Once you start paying too much taxes

as a sole proprietor



150	00:09:20:24	00:09:24:12

I think that's going to be the cue

from your accountant or your bookkeeper



151	00:09:24:15	00:09:27:05

to make the change into a legal entity.



152	00:09:27:08	00:09:30:05

So that, of course,

would be a huge advantage to change.



153	00:09:30:08	00:09:35:08

Are there any other main advantages

to switching to a BV?



154	00:09:35:11	00:09:39:05

Depends. If you go international,

there could be an argument.



155	00:09:39:08	00:09:43:09

Being a director of a legal entity

in foreign countries



156	00:09:43:12	00:09:47:10

is easier to explain

than having a sole proprietorship.



157	00:09:47:13	00:09:51:12

That could be one. And I'd say

if you start working with investors



158	00:09:51:15	00:09:55:24

then also a BV becomes more interesting



159	00:09:56:02	00:09:58:24

because you can have investors

who can have shares.



160	00:09:59:02	00:10:04:03

And that's not possible if you have a sole

proprietorship or a general partnership.



161	00:10:04:06	00:10:08:20

How should an entrepreneur know when their 

business would actually qualify as a BV



162	00:10:08:23	00:10:10:17

if it wants to

take advantage of all of this?



163	00:10:10:20	00:10:14:23

I'd say that you'd normally

have your accountant



164	00:10:15:01	00:10:18:23

who's going to look at your bookkeeping.

They're going to give you a cue.



165	00:10:19:01	00:10:23:13

I'd say that if you want to work

with investors and scenarios like that



166	00:10:23:16	00:10:26:22

you'll find out that

that's the only possibility.



167	00:10:27:00	00:10:30:09

But keep in mind

that it's not always necessary to change.



168	00:10:30:12	00:10:33:24

You can start off as a

one-man business or general partnership



169	00:10:34:02	00:10:36:20

and change into a legal entity.



170	00:10:36:23	00:10:40:21

But there are also a lot of people

who don't and who stay sole proprietors



171	00:10:40:24	00:10:43:24

or partnerships

their entire business career.



172	00:10:44:02	00:10:47:02

Geta, you actually started as a BV.



173	00:10:47:05	00:10:50:04

Did you see that as an advantage?

And why did you choose for that?



174	00:10:51:18	00:10:56:02

In my case, when I came

to the Netherlands in 2016



175	00:10:56:05	00:11:00:01

I came as part of

a business acceleration programme



176	00:11:00:04	00:11:05:11

and this was the structure 

that they advised us from the very start.



177	00:11:05:14	00:11:09:09

We actually have a holding company



178	00:11:09:12	00:11:11:21

owning the shares inside the BV



179	00:11:11:24	00:11:15:07

and then the investors come along

and there's the whole stock.



180	00:11:15:10	00:11:18:00

So it's a bit more sophisticated structure.



181	00:11:18:03	00:11:21:18

Was it a good or a bad choice?



182	00:11:21:21	00:11:26:16

I'm not sure. It worked for me so far,

so I can't complain.



183	00:11:29:07	00:11:34:10

So for you, it probably was a good choice.

-Yeah, in some ways, yes.



184	00:11:34:13	00:11:38:06

And Johan, would you say

that a transition to BV



185	00:11:38:09	00:11:41:02

is always a logical

next step for sole proprietorship?



186	00:11:41:05	00:11:46:03

No. As I mentioned earlier, for some it is.



187	00:11:46:06	00:11:50:24

And I'd say based on the growing of your

business and your liability increasing



188	00:11:51:02	00:11:55:20

and profit increasing,

that could be a reason to change.



189	00:11:55:23	00:12:01:07

Having the investor on board

could help making that transition.



190	00:12:01:10	00:12:05:05

But for some, it goes from

a sole proprietorship to a legal entity



191	00:12:05:08	00:12:07:12

and for a lot of others it doesn't.



192	00:12:07:15	00:12:11:18

And they're going to stay

the exact same way as they start now.



193	00:12:11:21	00:12:17:17

It's not mandatory. You don't need to

go to a legal entity at some point.



194	00:12:17:20	00:12:22:06

There's a choice and the choice

will depend on your specific situation



195	00:12:22:09	00:12:24:13

and your needs.

-Exactly.



196	00:12:24:16	00:12:29:02

We will come to talk about the situation

of a sole proprietorship and a BV



197	00:12:29:05	00:12:32:12

in the next chapter,

for there's much more to this.



198	00:12:32:15	00:12:35:06

But first, let's continue

with a bird's eye view



199	00:12:35:09	00:12:38:01

on the growing

and expanding of your business.



200	00:12:39:12	00:12:45:01

Business is going well for Mike.

He wants to expand. What are his options?



201	00:12:45:04	00:12:50:14

Should he expand his product range,

hire staff, start trading internationally?



202	00:12:50:17	00:12:53:02

How about opening a branch office?



203	00:12:53:05	00:12:57:19

Expansion comes with risks

and Mike needs to know what they are.



204	00:12:57:22	00:13:00:05

Is there a market for his new products?



205	00:13:00:08	00:13:04:07

Does he need extra insurance

for international business or permits?



206	00:13:04:10	00:13:07:15

Mike needs a growth plan to help him focus.



207	00:13:07:18	00:13:12:12

He visits business.gov.nl,

the point of single contact website



208	00:13:12:15	00:13:16:23

that offers entrepreneurs complete

and up-to-date government information.



209	00:13:17:01	00:13:19:21

Here, he finds all he needs to know.



210	00:13:19:24	00:13:23:20

The market research he's done

is the input for his marketing plan.



211	00:13:23:23	00:13:26:13

He knows which products

show the most promise.



212	00:13:26:16	00:13:29:17

Research into the national

and international market



213	00:13:29:20	00:13:32:06

has shown him where to focus his efforts.



214	00:13:32:09	00:13:35:12

Next, he has to think about promotion.



215	00:13:35:15	00:13:38:24

He needs to consider his target market

to find the right mix



216	00:13:39:02	00:13:42:20

of traditional and online marketing tools.



217	00:13:42:23	00:13:46:01

Financing is an essential part of growing.



218	00:13:46:04	00:13:48:08

Now that Mike knows what he wants to do



219	00:13:48:11	00:13:51:16

he needs to decide

how to finance the expansion.



220	00:13:51:19	00:13:54:18

Go for one source of funding

or for a mixture.



221	00:13:56:01	00:13:59:12

Market research, marketing and finance.



222	00:13:59:15	00:14:03:07

Those are the ingredients

for a growth plan that will work.



223	00:14:03:10	00:14:06:17

Mike knows how to move forward.



224	00:14:06:20	00:14:11:00

And so can you,

with a little help from business.gov.nl.



225	00:14:12:03	00:14:16:24

Do you have general recommendations

for businesses when they think of growing?



226	00:14:17:02	00:14:21:22

I think that it's...

You'll be looking at



227	00:14:22:00	00:14:24:12

what your plans were

right from the beginning.



228	00:14:24:15	00:14:27:14

I think that's a nice starting point.



229	00:14:27:17	00:14:30:22

Once you started your business,

you had a plan, you had a vision



230	00:14:31:00	00:14:32:19

you had somewhere you wanted to go



231	00:14:32:22	00:14:35:21

and where you wanted to end up

with your business.



232	00:14:35:24	00:14:40:24

I think it's always good

to keep an eye on what your plans were.



233	00:14:41:02	00:14:46:00

Are you still on track? Are you still going

in the direction where you want to go?



234	00:14:46:03	00:14:49:13

So for those who wrote a business plan



235	00:14:49:16	00:14:52:15

keep working with that specific plan.



236	00:14:52:18	00:14:56:02

Look at what you estimated on doing.



237	00:14:56:05	00:15:00:14

And on top of that, you'll be looking

into possibilities of growth.



238	00:15:00:17	00:15:03:09

You might want to start

writing a growing plan



239	00:15:03:12	00:15:08:11

saying: I'm here now. I'm still in line

with what I intentionally planned.



240	00:15:08:14	00:15:10:18

But how am I going to go to the next step?



241	00:15:10:21	00:15:15:07

You'll be thinking about

expanding product, expanding market.



242	00:15:15:10	00:15:18:12

You might want to look into

hiring personnel



243	00:15:18:15	00:15:21:17

relocating, all that kind of stuff.



244	00:15:21:20	00:15:25:21

It's the next step and that's the thing

that you'll be thinking of.



245	00:15:25:24	00:15:31:02

Exactly. So this growth plan actually is

sort of key to first taking that next step.



246	00:15:31:05	00:15:35:04

What aspects would you deem most

important to be named in this growth plan?



247	00:15:35:07	00:15:39:23

I'd say look at financing,

look at staff, maybe



248	00:15:40:01	00:15:43:03

look at your location,

your legal structure, maybe.



249	00:15:43:06	00:15:47:16

I'd say that those elements are

the things that you need to look into.



250	00:15:47:19	00:15:51:01

Sounds logical. Karim, growth plan,

does that ring a bell?



251	00:15:51:04	00:15:52:22

Did you put anything on paper?

-Of course I did.



252	00:15:53:00	00:15:54:22

But you always have to refine things.



253	00:15:55:00	00:15:58:11

That's about moving your business

one per cent per day. That's my motto.



254	00:16:00:09	00:16:03:20

Any remarks to the growth plan

that Johan just sketched?



255	00:16:03:23	00:16:08:19

Essentially, you do look at your

growth plan. We do put things on paper.



256	00:16:08:22	00:16:12:05

We do take a look at: OK,

what's the next logical step for us?



257	00:16:12:08	00:16:16:11

I'm not a fan of

keeping things super rigid, right?



258	00:16:16:14	00:16:19:12

Because things always change

on a day-to-day basis.



259	00:16:19:15	00:16:23:17

As long as the general direction

doesn't change, I think you're good.



260	00:16:23:20	00:16:27:05

That sounds very logical. How do you make

sure that everyone and of course you



261	00:16:27:08	00:16:29:13

are able to keep focus in that case?



262	00:16:29:16	00:16:35:06

It's very simple. You focus on your clients

and in our case, focus on our audience.



263	00:16:35:09	00:16:38:05

So if you keep those two happy...



264	00:16:38:08	00:16:40:13

Keeping the focus is about

keeping your customers



265	00:16:40:16	00:16:42:20

and your stakeholders happy, essentially.



266	00:16:42:23	00:16:46:08

And if you can do that, you're usually

going to end up in the right way.



267	00:16:46:11	00:16:49:10

That sounds good.

And in that case



268	00:16:49:13	00:16:52:23

are there also any special remarks

for non-Dutch entrepreneurs?



269	00:16:53:01	00:16:57:00

Definitely. Well, the Netherlands is

a really great place to do business.



270	00:16:57:03	00:16:59:09

I would say just know the regulations,

get to know



271	00:16:59:12	00:17:01:23

what sort of company you want to start.



272	00:17:02:01	00:17:05:23

And basically... Because at the end

of the day, a business is about



273	00:17:06:01	00:17:08:07

having customers.

So find your first customers.



274	00:17:08:10	00:17:10:02

And it's quite easy to do

in the Netherlands



275	00:17:10:05	00:17:12:14

just because of

the business-friendly environment.



276	00:17:12:17	00:17:14:17

It's quite good, actually.



277	00:17:14:20	00:17:17:03

That's good to hear.

-I hope that answers your question.



278	00:17:17:06	00:17:19:13

Yeah, definitely.



279	00:17:19:16	00:17:23:06

And now I would like to see

what your strategy base is.



280	00:17:23:09	00:17:25:00

So I have a statement for you.

-Sure.



281	00:17:25:03	00:17:30:23

In the running of your business,

you should always go after opportunities.



282	00:17:31:01	00:17:32:17

Geta, to maybe start with you.



283	00:17:34:13	00:17:38:23

You should definitely seek opportunities,

but you don't take all of them.



284	00:17:39:01	00:17:41:13

You take the ones that work for you



285	00:17:41:16	00:17:45:10

and are in line with your planning

and your business directions.



286	00:17:45:13	00:17:49:18

Because otherwise you just waste effort

and you're all over the place.



287	00:17:49:21	00:17:53:16

So who needs that when you 

want to build something specific, right?



288	00:17:53:19	00:17:56:13

Do you agree with that, Karim?

-Absolutely.



289	00:17:56:16	00:17:59:05

Opportunities. It's always

going for the right opportunities.



290	00:17:59:08	00:18:02:03

But I don't agree with being opportunistic.



291	00:18:02:06	00:18:07:02

You see what I mean? It has to match

with your overall vision, absolutely.



292	00:18:07:05	00:18:10:00

And you, Johan, as a business consultant



293	00:18:10:03	00:18:14:17

do you agree with the statement?

-Yeah, they're both right.



294	00:18:14:20	00:18:18:06

It has to work for your situation.



295	00:18:18:09	00:18:21:00

It needs to be you,

your business, your planning.



296	00:18:21:03	00:18:25:01

You need to keep

an eye open for possibilities



297	00:18:25:04	00:18:28:02

but in the end

it needs to suit your business.



298	00:18:28:05	00:18:31:02

And they both make that happen.

So, yeah, I totally agree.



299	00:18:31:05	00:18:35:03

They certainly do.

So, Geta, looking at opportunities



300	00:18:35:06	00:18:39:13

what is your next step with Babymoon?

-Well, right now



301	00:18:42:10	00:18:45:21

we have a lot of work on our plate



302	00:18:45:24	00:18:50:02

because we're literally

in the middle of launching



303	00:18:50:05	00:18:52:08

in both our business directions



304	00:18:52:11	00:18:55:15

because we have a direction for the

consumer market and one for the health.



305	00:18:55:18	00:18:59:15

So first of all, we have

two parallel lines of work.



306	00:18:59:18	00:19:03:11

And the team is small enough at this point



307	00:19:03:14	00:19:07:21

so we can't afford

looking for opportunities



308	00:19:07:24	00:19:10:13

that are not on our radar.



309	00:19:10:16	00:19:14:19

They may be great and amazing and fantastic



310	00:19:14:22	00:19:19:17

but right on this point

of where our business is



311	00:19:19:20	00:19:24:06

we have to put value to

all the prework that has been done



312	00:19:24:09	00:19:29:04

launch, get the goals

that we were looking at.



313	00:19:29:07	00:19:32:21

And then after that,

we can maybe take a phase of



314	00:19:32:24	00:19:35:20

searching for other opportunities



315	00:19:35:23	00:19:41:23

at a stage when we're kind of

transitioning to another step.



316	00:19:42:01	00:19:45:06

Exactly, and I can imagine,

especially with the team you're describing



317	00:19:45:09	00:19:48:18

financing and launching

is really important in this.



318	00:19:48:21	00:19:52:02

But we can dive deeper into that later on.

Great to hear that.



319	00:19:52:05	00:19:56:16

Karim, maybe a question for you again.

What is at the top of your list



320	00:19:56:19	00:19:58:20

the first thing you do

once you actually are a BV?



321	00:20:01:09	00:20:04:08

That's a good question.



322	00:20:04:11	00:20:08:02

It really doesn't change much,

to be honest.



323	00:20:08:05	00:20:11:12

Because I'm going to do

the exact same thing I do every morning.



324	00:20:11:15	00:20:13:16

I'm going to wake up

and think about my customers



325	00:20:13:19	00:20:15:13

and the people I need to help.



326	00:20:15:16	00:20:18:14

So the legal structure

is kind of a transparent thing.



327	00:20:18:17	00:20:22:10

And you probably want to just hand

over all that accounting and tax stuff



328	00:20:22:13	00:20:24:06

to someone who knows what they're doing.



329	00:20:24:09	00:20:29:02

And of course, you can visit our website

for those companies.



330	00:20:29:05	00:20:31:24

Good to mention. Thank you.



331	00:20:32:02	00:20:34:04

Let's summarise what we've discussed.



332	00:20:34:07	00:20:36:07

The big picture of running a business



333	00:20:36:10	00:20:40:02

and reviewing the legal structure

because of the changes.



334	00:20:40:05	00:20:44:20

You should write a growth plan and try

to keep the focus on where you're going.



335	00:20:44:23	00:20:50:00

You can find all the information

you need on business.gov.nl.