Debits and Credits Video

Startups and Business Owners Will Thank Me for Posting This Debits and Credits Video

by Tim Berry

Business owners, startup founders: Do you know debits and credits? If so, cool, you know why I’ve posting this here as my Friday video. And if not, do yourself a favor and stick with this post and this video for a few minutes. You’ll be glad you did. It’s 13 minutes. If you go through... Read More »

A Bad Idea

Business Plans are Always Wrong

by Tim Berry

Yes, I admit; I’ve used “business plans are always wrong” a few times in slides, blog posts, and even in both of my two latest books. It’s an important concept. Way too many people misunderstand the point of business planning and assume that because we can’t predict the future, we shouldn’t plan. Which prompts me... Read More »

Plan Run Review Revise

Lean Plan and the Business Model Canvas

by Tim Berry

Early this month I tweeted out my recent post on business planning as dashboard and GPS. #smallbiz Owners: planning, not #businessplan Lean Business Plan as Dashboard https://t.co/qECGn2CSTm pic.twitter.com/IGyowg9DnI — Tim Berry (@Timberry) May 3, 2016 Which prompted this response, from Antony Upward: @Timberry agree – any updates on how business modelling fits into this from... Read More »

Future of Business Planning 2006

Business Plan Software Then and Now

by Tim Berry

I was shocked, over the weekend, to discover that it’s been more than 10 years since I posted The Future of Business Planning Software here on this blog. I wrote then: As time goes on, more people are going to use planning as process to manage their businesses better. More will see the power of regular plan... Read More »

A Pile of Cash

10 Things Angel Investors Ask About Startups

by Tim Berry

Today the angel investment group I’m a member of (Willamette Angel Conference) finished our eighth year of choosing a startup to invest in. Our investment runs $100K to $500K, roughly. It’s announced every year on the second Thursday in May. The announcement comes later in the day, not here. Our annual angel investors process Every year... Read More »

GPS

Business Owners: The Lean Business Plan as Dashboard and GPS

by Tim Berry

What if you own a business, you’re not a startup, you don’t have to generate a traditional business plan to show to a bank or an investor? Would you still want a business plan? Yes, emphatically, yes you do … … but it’s not a traditional business plan. It’s a lean plan.  … and you... Read More »

Business Plan Financials

Business Plan Financials? Why Bother?

by Tim Berry

As I’m winding up my series of posts on standard business plan financials  – this is the 20th since last month – I want to focus on why? Why bother to project your business plan financials ahead of time? Aren’t they going to be wrong anyhow? Aren’t they going to change? Some people will suggest... Read More »

Estimating Startup Cash

Business Plan Financials: Starting Costs

by Tim Berry

It’s really important to have an idea of what you need before you start. Continuing with my series on standard business plan financials, startups need to project starting costs. Starting costs set up a starting balance, which is necessary to plan cash flow. And the starting costs are critical to determining whether a startup can bootstrap or... Read More »

Sample Website Sales Forecast

Standard Financials: Sample Website Sales Forecast

by Tim Berry

Here’s fourth sales forecast example, part of my standard business plan financials series, following email sales forecast example, restaurant sales forecast example, and how to forecast sales last week. This is a sample website sales forecast. In all of them I’m making the point that sales forecasts come from meaningful assumptions you can use to manage the... Read More »

Email Marketing Assumptions

Standard Business Plan Financials: Email Sales Forecast Example

by Tim Berry

Here’s another sales forecast example, part of my standard business plan financials series, following my restaurant sales forecast example posted here yesterday, and how to forecast sales the day before. The point is to call out realistic assumptions that make a sales forecast useful. This is to illustrate my underlying point that anybody who can... Read More »