Strategy

Every Business Plan is Wrong

by Tim Berry As you develop your business plan, you have to realize that your business plan is wrong. All business plans are wrong. Plans are about the future–and nobody gets the future right very often, so keep the plan fresh and watch closely as reality moves forward. A planning process constantly watches the difference...

By Noah Parsons |

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 |

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 |

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 |

The Fresh Look

Back in the 1970s when I was a foreign correspondent living in Mexico City, I dealt frequently with an American diplomat who provided information about Mexico’s increasing oil exports, which were a big story back then. We had lunch about once a month. He became a friend. Then one day he told me he was...

By Tim Berry |

Business Plan? But I’m not a Start-up!

Ask the owner of a small-to-medium company about a business plan. Expect the answer: “Business plan? but I’m not a start-up. Why would I want a business plan?” They don’t all answer that way, but too many do, and it’s a shame. The business planning process is such a great tool for growing a business,...

By Tim Berry |

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