Tips and traps

You can also do the big plan all at once! I understand. This new approach is great but never mind, you need the formal plan. You’ve been asked for it by somebody who might invest, or a bank loan manager, or a boss. Maybe you’re doing it for a business school class. I call these business plan events. When you need the old-fashioned full document, so be it; there’s a business need, so let’s get it done.

We’ll get there, in this book. You can jump there right now, and start writing things down, section by section. I’d rather have you develop your core plan first, then get the essentials including the who-what-when-how-much, the sales forecast, and the spending budgets (a.k.a. the burn rate: the amount of money that flows out of the business each month) but that’s up to you. “Get started and get going” means you can also do it the old-fashioned way if you want.

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Tim BerryTim Berry
Tim Berry

Tim Berry is the founder and chairman of Palo Alto Software and Bplans.com. Follow him on Twitter @Timberry.