Know your industry. In a recent post here, I wrote that the most common stumbling point I see in multiple business plans is absurdly unrealistic profitability. Specifically … Most of the business plans I see project profits too high, or profits too early. In the real world, startups choose growth or profits, not both. The plans […]
Tim Berry
Advice to Young People Looking to be Entrepreneurs
How does a young person work towards a career in entrepreneurship? I was asked this question on Quora. Here’s my answer. It’s a marathon, not a sprint. Make sure you focus on your education while you’re young; don’t think success is supposed to happen immediately. School is the best way to build options later on. […]
10 Tips on How to Protect a Software Idea
How to protect a software idea? I recently answered a related Quora question on this one. I took parts of this post from a previous post on how to protect an idea while building a business, but this one focuses more on software, specifically. That’s where I’ve spent most of my career, and still my favorite business, by […]
5 Most Important Illusions About Startups
Q: What are some illusions about start-ups? A: here’s my list of the five most important illusions about startups The illusion of the idea. Few businesses have truly new ideas. Apple didn’t; Facebook didn’t; Google didn’t. They took an existing idea and did it better, or differently. Quite often the second or third entrant into […]
CEOs Change the Deeper Meaning of the Ultimate Bottom Line
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 the story: AMERICA’S CEOS JUST […]
7 Crazy Startup Ideas That Worked
I believe many people put way too much stock in the startup idea. Doing the business, doing the work, getting things done, and execution are all more important. Obviously a bad idea can make a business unsuccessful, but a good idea is no guarantee. And very few successful businesses are based on being the first […]
What Do I Need to Do to Become an Entrepreneur?
Q: What do I need to do to become an entrepreneur? Being an entrepreneur is simply somebody who has launched a business. It’s not a set of traits or qualities, a state of being, or an attribute. It’s not a degree or certificate. It’s not an expertise. It’s did you start a business, or not? […]
3 Critical Questions to Ask Yourself Before Starting a Business
Starting a business? Thinking about starting a business? Here are my suggestions for three quick questions you should ask yourself first: What are the chances that the business I want to start will be able to launch and grow? That’s a matter of market, product, product-market fit, need, demand, fulfillment and delivery. What resources are […]
3 Business Plan Critical Factors
What matters most for a business plan? When somebody asked on Quora what are the critical factors of a business plan, I came up with these three business plan critical factors: Does it achieve its business goal? Form follows function; does it achieve its business goal? Measure a business plan by its results, and nothing else. You […]
10 Good Reasons Not to Seek Investors for Your Startup
Before you buy into the myths about startup investors, first consider whether you actually want startup investors for your new business at all. No, I’m not bitter … I had VC money in Palo Alto Software for a few years and they were helpful, collaborative, and good people. I’m not a bitter victim. And I’ve […]
