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 »

business plan and accountability

Three Business Plan Critical Factors

by Tim Berry

What matters most for a business plan? When somebody asked on Quora what are the critical factors of a business plan, I came up with these three business plan critical factors: Effectiveness. Does it achieve its business goal? Form follows function; does it achieve its business goal? Measure a business plan by its results, and... Read More »

Business Plan Events and Why They Matter

by Tim Berry

(Note: I posted this earlier this week on the SBA Industry Word blog. It’s reposted here for your convenience.) What do you think of when you hear the phrase “business plan?” Does that bring to mind a formal document that starts with a summary and includes modules describing your business’s products, market, strategy, team, and... Read More »

Take Real Steps to Fight Sexism in Tech

by Tim Berry

Harassment in the workplace. Sexism. Genderism. Bigotry and prejudice. Brogramming. Not just everywhere, but also in high tech, which – you’d think – should have been advanced past that backwardness. Silicon Valley too. Blue city, blue industry, in a blue state. If you’ve been off the grid for a while, read this from the New... Read More »

valuation terms

5 Things Entrepreneurs Need to Know About Valuation

by Tim Berry

Valuation is one of those four-syllable business buzzwords you’re going to have to deal with, eventually, if you either want to start a business or own a business. If it doesn’t come up when you start, it will come up later. Here is what I think you need to know, in five short points. The... Read More »

How to Start a Business Plan

by Tim Berry

How do I start a business plan? It’s a common question. And you can find lots of definitive answers. People answer with outlines, prescriptions, and recipes. Unfortunately, most of these misunderstand how people are different, and the way they approach the business plan ought to reflect that difference. Let me explain with some examples of... Read More »

Form Follows Function

Planning Principle: Do Only What You’ll Use

by Tim Berry

Efficient business in general means avoiding waste, doing only what has value. Therefore the right form for your business plan is the form that best serves your business purpose. Furthermore, for the vast majority of business owners, the business purpose of planning is getting what you want from the business – setting strategy and tactics,... Read More »

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 »