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 »
Business Plans are Always Wrong
By Tim Berry
Yes, I admit; I’ve used “business plans are always wrong” a few times in slides, blog posts, and even in both of my two latest books. It’s an important concept. Way too many people misunderstand the point of business planning and assume that because we can’t predict the future, we shouldn’t plan. Which prompts me... Read More »
10 Things Angel Investors Ask About Startups
By Tim Berry
Today the angel investment group I’m a member of (Willamette Angel Conference) finished our eighth year of choosing a startup to invest in. Our investment runs $100K to $500K, roughly. It’s announced every year on the second Thursday in May. The announcement comes later in the day, not here. Our annual angel investors process Every year... Read More »
Standard Business Plan Financials: Six Key Terms
By Tim Berry
A good argument for teams in business is not having to know finance if you love sales, marketing, or product development. But you’re a business owner. You’ll run your business better if you understand the standard business plan financials. These important terms aren’t that hard to learn and understand. You owe it to yourself and... Read More »
