business plan

10 Pervasive Business Plan Myths

By Tim Berry

In dealing with business plans and business planning for four decades, I’ve come to know well some very pervasive business plan myths that should be debunked. The business plan myths can create unnecessary hurdles for entrepreneurs and hinder their chances of success. Here are the 10 most common business plan myths that I run into... Read More »

financial projections

Avoid these 5 Critical Mistakes in Startup Financials

By Tim Berry

What are the critical mistakes in startup financial projections? Here is my list of five critical mistakes. It comes from reviewing more than a hundred possible startups with either detailed projections or pitches and, of course, business plans. Good news at the bottom: these are much easier to fix than some more common startup problems... Read More »

good business plan cycle

How to Know a Good Business Plan

By Tim Berry

What’s a good business plan? A business plan is as good or bad as its results. The decisions it causes. Divide this into two parts: First, how can you tell a good business plan after the fact, after time, after the business has been running with it. Second, how can you tell a good business... Read More »

idea man bragging

Somebody Stole My Idea

By Tim Berry

How do you feel when somebody steals your idea? It’s a frequently asked question. Here’s my answer. That happened to me once. A business associate listened to my idea that I shouldn’t have shared in a cocktail party setting, and he went quietly off and executed. I was annoyed because he didn’t invite me to... Read More »

How Do I Start my Business With No Money?

By Tim Berry

(Note: consider this one a guest post from Paul O’Brien, CEO of MediaTech Ventures. It’s his answer to a Quora question “how much money do I need to start.”) How much do you need to start? Here is Paul’s Answer Zero dollars. What “should be” the minimum?? Nothing. It takes nothing to start: Total spent?... Read More »

financial projections

How Investors Look at Startup Forecasts

By Tim Berry

Investors look at startup forecasts for concepts, not accuracy. When investors look at your projections, they are looking not for just the numbers, but essential insight into the knowledge, experience, and goals of the founders. Important: you need to forecast to manage your business. Hard as it is to forecast, it’s much harder to run... Read More »

idea man bragging

Where Can I Sell My Business Ideas?

By Tim Berry

I get it. What a nice dream … just sell the business idea, and let somebody else take the risk, find the money, and do the work. Except that the work, the risk, and the money is what gives the business idea value. So nowhere. The answer to your question about where is: nowhere. Business... Read More »

business plan

Some Posts on Managing During a Crisis

By Tim Berry

I've been posting on the main bplans blog during the pandemic crisis. Here are six recent posts. Several focus on the economic crisis. Read More »