Managing a Business

Q & A: Selling Out to a Partner

Question: I own a business with my brother for the past 16 years. I decided to buy my partner/brother out of the business. The business has been running a loss for the past couple of years. How do we put a value on the business without incurring the expense of a Business Expert? OK, stop...

By Tim Berry |

Ownership Shares and Your Business Plan

by Tim Berry Most business plans, particularly start-up business plans, need to deal with shares at several key points. Shares are shares in ownership. This is why we talk about shares of stock, and we buy and sell shares on the stock market. Now, the simplest one-person business has no need for shares because nobody...

By Noah Parsons |

Creating Passionate Users

Passion is a key ingredient in the recipe for successful products, and more importantly the people that create them – customers and creators alike. But where do you get it – and are there different types of passion? I’m going to tune you into a blog that might just help you figure it out. The...

By Cale Bruckner |

Stand By Your Business Plan

  by Flickr user AZAdam This story doesn’t have a happy ending. In less than three years, Robert ended up with a failed company, no market and about $240,000 in debt. – TheStreet.com Stand By Your Business Plan, a true story about an unfortunate entrepreneur, serves as a good reminder that your business plan should...

By Cale Bruckner |

Breathe life into Excel

Crystal Xcelsius has released a free version of their software that helps users create dynamic flash dashboards from excel data. This is a great tool to help turn boring financial presentations into interactive and engaging PowerPoint. You can even post your final creations to your web site. Free Download We’ve used the standard version of...

By Noah Parsons |

Debits and Credits

You don’t have to know debits and credits to do a business plan. As I say elsewhere, planning is not accounting. You don’t need to be an MBA or CPA to develop business plan financials. You need to be able to make reasonable assumptions and follow the financials, preferably using Business Plan Pro software. Still,...

By Tim Berry |

SWOT and Teamwork

SWOT is probably the best tool there is for taking a strategic look at a company. It’s named for strengths, weaknesses, opportunities, and threats. It’s a very good first step towards analyzing any company, or developing business strategy. I recommend the SWOT be part of every planning process. It’s also an excellent tool for gathering...

By Tim Berry |

Gather Your Team

Especially when you’re growing an existing business, you want the planning process to pull your team together, develop commitment, and accountability. Managers have to believe in a plan to implement a plan. They also have to believe that results will be tracked, and that managers will be held accountable for disappointing results and will be...

By Tim Berry |

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