10 business plan myths

10 Business Plan Myths That Hurt Your Business

by Tim Berry

The need for good business planning is as strong as ever, and the potential benefits are as important as ever. Every business owner ought to have a business plan. But the best strategies for business planning are different than they used to be. And these 10 pervasive business plan myths get in the way, much... 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 »

20 Reasons to Write a Business Plan

by Tim Berry

A list of 20 good reasons for business planning in all businesses, not just startups. Strategy, tactics, cash flow, and lots more Read More »

A Good Resolution: Schedule Regular Management Meetings

by Tim Berry

Each year, as you get ready to publish the next year's plan, schedule the plan review meetings. Use some regular meeting schedule such as the third or fourth Thursday of every month. All the managers committed to the plan will... Read More »

Small Business Lessons from High Tech

7 Small Businesses Lessons From Tech Startups

by Tim Berry

What can every small business learn from tech startups? David Rose, founder of Gust.com and long-time leader of the New York Tech Angels, says normal businesses are different from tech startups, and offers small business lessons he’s taken from decades dealing with what high-end tech startups do as they start. He says: One of the most... Read More »

True Story: My Worst-Ever Business Plan Consulting Engagement

by Tim Berry

In more than 30 years with business planning, my worst-ever business plan consulting engagement was for a startup that should have been funded but wasn’t. It was a good business plan. But the business plan process became the fatal flaw. A good plan, excellent team, good startup I learned this lesson while sitting in a series of meetings,... Read More »

10 Myths vs. Reality on Business Plans and Startup Investment

by Tim Berry

I gather from a stream of emails I’ve received that there are a lot of misconceptions on the relationship between a business plan and getting seed money and/or angel investment. So here’s a list of reality checks to apply to all those lists. Business plans are necessary but not sufficient. Even a great business plan... 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 »