myths of business

10 Prevailing Myths Of Business Ownership

by Tim Berry

I was asked about common myths of business ownership, that people still believe in 2019. I came up with a list of 10 common myths. Do you agree? That the business idea matters. As if ownership ought to depend on having the big idea. As if people steal ideas, or that’s even possible, much less... Read More »

Industry average margins

Know Your Industry: Average Margins

by Tim Berry

Know your industry. In a recent post here, I wrote that the most common stumbling point I see in multiple business plans is absurdly unrealistic profitability. Specifically … Most of the business plans I see project profits too high, or profits too early. In the real world, startups choose growth or profits, not both. The... Read More »

education and business

Advice to Young People Looking to be Entrepreneurs

by Tim Berry

How does a young person work towards a career in entrepreneurship? I was asked this question on Quora. Here’s my answer. It’s a marathon, not a sprint. Make sure you focus on your education while you’re young; don’t think success is supposed to happen immediately. School is the best way to build options later on.... Read More »

idea man bragging

10 Tips on How to Protect a Software Idea

by Tim Berry

How to protect a software idea? I recently answered a related Quora question on this one. I took parts of this post from a previous post on how to protect an idea while building a business, but this one focuses more on software, specifically. That’s where I’ve spent most of my career, and still my... Read More »

list of resources for women startups

Listing Resources for Women Entrepreneurs

by Tim Berry

My thanks to digital.com for this useful list of resources for women entrepreneurs and women business owners. The list includes sources for grants, loans, and investments; plus business and business plan competitions; and training and additional resources. Read More »

Pot of Gold

5 Most Important Illusions About Startups

by Tim Berry

Q: What some illusions about start-ups? A: here’s my list of the five most important illusions about startups The illusion of the idea. Few businesses have truly new ideas. Apple didn’t; Facebook didn’t; Google didn’t. They took an existing idea and did it better, or differently. Quite often the second or third entrant into a... Read More »

Good Business Priorities

CEOs Change the Deeper Meaning of the Ultimate Bottom Line

by Tim Berry

As I read this morning about the Business Roundtable changing this fundamental principle, I was really glad to see it. It’s about time. Several hundred influential CEOs got together and agreed to revise priorities. The next quarter’s profits — which maximizes short-term share price — are no longer the supreme goal and top priority. Here’s... Read More »

Infographic: 7 “Crazy” Startup Ideas That Worked

by Tim Berry

I believe many people put way too much stock in the startup idea. Doing the business, doing the work, getting things done, and execution are all more important. Obviously a bad idea can make a business unsuccessful, but a good idea is no guarantee. And very few successful businesses are based on being the first... Read More »

Steps to Entrepreneur

What Do I Need to Do to Become an Entrepreneur

by Tim Berry

Q: What do I need to do to become an entrepreneur? Being an entrepreneur is simply somebody who has launched a business. It’s not a set of traits or qualities, a state of being, or an attribute. It’s not a degree or certificate. It’s not an expertise. It’s did you start a business, or not?... Read More »

starting a business

3 Critical Questions to Ask Yourself Before Starting a Business

by Tim Berry

Are you contemplating starting a business? Here are my suggestions for three quick questions you should ask yourself first: Read More »