Profits vs. Growth, yes. Maximize Profits, No.
By Tim Berry
Understand the inherent tradeoff between profits vs. growth. I’m struck by how much business writing and thinking takes optimizing profits as the objective. Maximize your profits. I disagree. Usually the optimal is not maximizing profits, but rather maximizing the value of the business, which often means a balance between profits and growth. In general, a... Read More »
Somebody Stole My Idea
By Tim Berry
How do you feel when somebody steals your idea? It’s a frequently asked question. Here’s my answer. That happened to me once. A business associate listened to my idea that I shouldn’t have shared in a cocktail party setting, and he went quietly off and executed. I was annoyed because he didn’t invite me to... Read More »
How to Pitch a Startup Idea by Email.
By Tim Berry
How to pitch a startup idea by email? I scoffed a bit when I saw the question, on Quora. Nobody invests in ideas, I mumbled to myself. And pitching by email? Fat chance. But then I read the answer here, written by Brett Fox, former CEO of Touchstone Semiconductor, and now a CEO coach. Here... Read More »
Horror Story of Small Business Fraud
By Tim Berry
If you’re a business owner, and especially if you’re in the expert business, you should know this small business fraud story. It involves a very sophisticated scheme, including a fraudulent cashier’s check, and a very well faked charity, that would have fooled me. This could happen to me or to you Melinda Emerson, a good... Read More »
The Best Place to Start Your Business …
By Tim Berry
… is where you are. Sure, there are exceptions. Maybe you’re young, and have no roots. Or maybe you just want to move to somewhere else. But, barring special cases, look around you. The best place to start you business is where you are. In my email and on Quora I get a steady stream... Read More »
Some Posts on Managing During a Crisis
By Tim Berry
I've been posting on the main bplans blog during the pandemic crisis. Here are six recent posts. Several focus on the economic crisis. Read More »
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 »
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 »
