Tim Berry on the Type of Business Plan YOU Need

People often  ask Tim Berry, author and founder of Palo Alto Software, what type of business plan they need.  “It comes up a lot and it’s hard to answer specifically,” he says in this video, “but I kind of like asking you back, ‘What are you going to use?'”

According to Berry, most people think that a business plan is a “hard to do, ponderous, formal document” with a fixed structure. (Admit it, you probably think that, too; otherwise, you wouldn’t be here) Berry prefers business plans that are more functional than formal – that is, that will help you run your business better.

What do you need to run your business better? According to Berry, you need to:

  1. Think about the steps that you need to take in order to reach your goal.
  2. Assign metrics for keeping track of your progress, as well as tasks that your business will have to accomplish in order to reach your goals.
  3. Predict important numbers like sales, costs, expenses, liabilities, capital and so on.
  4. Track your progress.
  5. Adjust your strategy if anything falls short of your predictions.
“What kind of a plan you (sic) need? You need the plan that will help you run the business better,” says Berry. “That’s what business planning is for, and that document that you fear might or might not be required output for your plan. It might be that your plan stays on the computer, and the output is the management meetings, the plan vs. actual, the management that flows from your plan.”

Take a couple moments to watch this short video. You won’t regret it.

Sierra Investment Group Inc. Carson City Nevada is a small business plan writing service and small business funding resource. They can be reached toll-free at (800) 323-6298 from 8 a.m. to 4 p.m., Monday through Friday, or at info@sierraig.com

Advertisements

About Sean D. Daily

Sean Daily was a mild-mannered social marketer in Las Vegas until a freak laboratory accident at the Spearmint Rhino gave him writing powers and abilities beyond those of mortal men. Since it's hard to fight crime with writing powers and abilities beyond those of mortal men, though, he decided to become a speculative fiction writer instead. He's currently working on the urban fantasy novel "Crossing the Line" and the science fiction comic book "Sidestep".
This entry was posted in Business Plans, Startups, Tips, Video and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s