Do those summaries, sure. Use those frameworks. But don’t think they replace business planning.
By Tim Berry
There is some bad advice floating around in the startup world. Useful as the Lean Canvas is, and despite some well-intentioned suggestions of summaries, those are not business plans. They don’t deal with the drivers and components of cash flow. They don’t set milestones, metrics, and tracking. You can’t run a business with them. And... Read More »
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 »
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 »
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 »
