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Tim Berry

A Simpler Plan for Startups

Business advisors, experienced entrepreneurs, bankers, and investors generally agree that you should develop a business plan before you start a business. A plan can help you move forward, make decisions, and make your business successful. However, not all business plans are the same, not every business needs the same level of detail. You might develop [...]

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Elevator Pitch Part 5: Delivery

In the real world, you know your so-called elevator speech and you use it when appropriate. Every time you do it, you and it get better. I’d recommend taking time out and working on it, but you probably won’t; you’re too busy. Think about it in the shower. Think about it when you’re stuck in [...]

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Elevator Pitch Part 4: Finish Strong

(Note: this is taken with permission from Planning Startups Stories) This fourth of five parts in this series depends on who you are, where you are, and what you want. If you’ve personalized in the first part, sold yourself and/or your organization in the second, and established the attractiveness or suitability of the business offering [...]

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Elevator Pitch Part 3: What You Offer

(Note: this is taken with permission from Planning Startups Stories) Now explain what that person or organization you’re selling to gets. You’ve personalized the need or want, identified your unique qualities to solve the problem, and now you have to put the need or want in concrete terms that anybody can see. For example: For [...]

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Elevator Pitch Part 2: Why You?

(Note: this is taken with permission from Planning Startups Stories) In the next part of your elevator pitch address ‘why you’? Why your business? What’s special about you that makes your offering or solution interesting to the target person or organization you just identified (Part 1 of this series). This is where you bring in [...]

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Elevator Pitch Part 1: Personalize

(Reposted with permission from Planning Startups Stories) If you can’t say it in 60 seconds, you have a problem. Your strategy isn’t clear enough. Nowadays we call it “the elevator pitch,” meaning a quick description of the business that you could do in the time you share with a stranger in an elevator. It’s becoming [...]

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Business Valuation

Valuation is what a business is worth, as in “this company’s valuation is £10 million.” This would mean that a company is valued at £10 million, or worth £10 million. The term is used most often for discussions of sale or purchase of a company; it’s valuation is the price of a share times the [...]

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What is a Business Plan?

Business Plan Basics Business planning is about results. You need to make the contents of your plan match your purpose. Don’t accept a standard outline just because it’s there. What is a business plan? A business plan is any plan that works for a business to look ahead, allocate resources, focus on key points, and [...]

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Who Needs a Business Plan?

Business Plan Purpose You need a business plan if you’re running a business. A business plan is like a map and a compass for a business. Without it you’re traveling blind. With a plan you set objectives, establish priorities, and provide for cash flow. You need a business plan if you’re applying for a business [...]

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What Makes a Good Business Plan?

Better Business Plan Is it the length of the business plan? The information it covers? How well it’s written, or the brilliance of its strategy. No. The following illustration shows a business plan as part of a process. You can think about the good or bad of a plan as the plan itself, measuring its [...]

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