business plan projections

How To Forecast Sales and Profits Without Just Guessing

by Tim Berry

Yes, it’s – my title here – a real question, and I get it a lot: how to forecast sales and profits without just guessing. It’s a good question too, because it leads to a better understanding of how and why we use forecasting to help manage a business, and to predict starting costs and... Read More »

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Update on History of Business Plans

by Tim Berry

Four years ago I posted A Short History of Business Plans including my experience plus data from a Google search of usage of phrases in books. The search is interesting because it transcends the web and online data by digging into books. Usage in Books I tried a similar search yesterday and was disappointed to discover that... Read More »

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Displacement Principle in Startups and Small Business

by Tim Berry

It’s really pretty simple. Intuitive. I didn’t learn about it in business school; I learned about it while building and running a real business. I decided to call it the displacement principle. Displacement Principle: In the real world of small business, everything you do rules out something else you can’t do. My favorite metaphor is... Read More »

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The Lean Business Plan for Small Business Owners

by Tim Berry

“What? No, I don’t have a business plan. I’m not a startup.” Too bad so many small business owners think that way. A good lean business plan for small business owners ought to be a great tool for running a business. Set strategy, tactics to match, major milestones, metrics, tasks, responsibilities, and essential business numbers.... Read More »

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11 Key Elements of a Good Business Plan

by Tim Berry

Somebody asked me what the key elements of a good business plan were, and I’m glad they did—it’s one of my favorite topics. It gives me a chance to review and revise another of the lists that I’ve done off and on for years (such as the one from yesterday, on common business plan mistakes). 1.... Read More »

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10 Most Common Business Plan Mistakes, Updated for 2016

by Tim Berry

Over the weekend, a Quora user asked me to list common mistakes that people make when developing a business plan. I’ve done that post from time to time, and it seemed like a good time to do it again. Here’s my list of most common business plan mistakes for 2016: 1. Misunderstanding the business objective.... Read More »

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What Is so Great about Developing a Business Plan for a Business?

by Tim Berry

I couldn’t resist. The question was, “What’s so great about developing a business plan for a business?” Here’s my answer: What’s great about a business plan starts with something similar to how we feel about having a collection of flight, hotel, and rental car reservations before we take a trip. The business plan, done right,... Read More »

business plan projections

What ‘Accurate’ Means in a Business Plan

by Tim Berry

I just answered this question on Quora. I think it’s an interesting question, one that comes up often enough, and one whose answer is worth considering. How can I write a very accurate business plan. I’m hoping to win a grant in a business plan competition? The rest of this post is my answer on... Read More »

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Startup Ideas Worth Building

by Tim Berry

(Note: I rarely do guest posts on this blog, but I ran into this answer on Quora and I am happy to post it here, as a long quote, with credit to its author. – Tim)  Noam Kaiser is a professional investment manager, alias venture capitalist, or VC. The question at Quora.com was: Do you... Read More »

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All Ideas are Brilliant Before They Are Executed.

by Tim Berry

“No battle plan ever survives first contact with the enemy.” – Helmuth von Moltke. Similarly, all business ideas are brilliant before they are executed.  Ideas have to run through an obstacle course of hard realities before they are really opportunities. Few ideas make it. Everybody has ideas, Millions of business ideas are floating around everywhere. Every problem anybody... Read More »