Comments on: 7 Business Planning Fundamentals http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html Exploring the trends driving small business Fri, 10 Feb 2012 04:39:28 +0000 hourly 1 http://wordpress.org/?v= By: Business Plan Projections, Model, Forecasting http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-650554 Business Plan Projections, Model, Forecasting Thu, 11 Dec 2008 15:54:38 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-650554 #1 is well said. A lot of people do not understand the importance of business planning. #1 is well said. A lot of people do not understand the importance of business planning.

]]> By: Financial Planning Tools http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-650553 Financial Planning Tools Thu, 11 Dec 2008 15:53:22 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-650553 "Your business plan is always wrong." Yes to a point this is true but there is a lot in the business plan that is correct. “Your business plan is always wrong.” Yes to a point this is true but there is a lot in the business plan that is correct.

]]> By: Martin Lindeskog http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-627769 Martin Lindeskog Sat, 01 Nov 2008 19:27:49 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-627769 Tim Berry, I agree that should check your metrics. It is funny that this word is coming from the European way of measuring! ;) When will America start using the metric system in all areas? It is important to look at your cash flow and see what's coming in and what's going out. One thing is to start negotiating with your suppliers and try to get better terms of payment and at the same time try to get paid by your customers in a quicker way. The business plan is an ongoing process, updated on a regular basis. I have to do the same thing as you Tim and quote myself. Here is from my post, Time To Bring Back The Smiley Face To America, on Open Forum by American Express: "It's the economy, stupid." Sooner or later, you have to take care of the "quadruple" deficit (budget, savings, trade, and leadership). Today's situation is caused by a long period of I.O.U mentality and therefore pushing the deficit problems ahead, instead of paying back as soon as possible. It is getting really messy when the Uncle Sam thinks it is OK to borrow 22 cents of every dollar that is spent. I wonder if you have watched the movie, I.O.U.S.A. - One Nation. Under Stress. In Debt? (October 14, 2008) If you are interested to read the whole piece, click on "Martin Lindeskog" Says: I will write a new post in the near future. I look forward to your feedback! :) Tim Berry,

I agree that should check your metrics. It is funny that this word is coming from the European way of measuring! ;) When will America start using the metric system in all areas?

It is important to look at your cash flow and see what’s coming in and what’s going out. One thing is to start negotiating with your suppliers and try to get better terms of payment and at the same time try to get paid by your customers in a quicker way. The business plan is an ongoing process, updated on a regular basis.

I have to do the same thing as you Tim and quote myself. Here is from my post, Time To Bring Back The Smiley Face To America, on Open Forum by American Express:

“It’s the economy, stupid.” Sooner or later, you have to take care of the “quadruple” deficit (budget, savings, trade, and leadership). Today’s situation is caused by a long period of I.O.U mentality and therefore pushing the deficit problems ahead, instead of paying back as soon as possible. It is getting really messy when the Uncle Sam thinks it is OK to borrow 22 cents of every dollar that is spent. I wonder if you have watched the movie, I.O.U.S.A. – One Nation. Under Stress. In Debt? (October 14, 2008)

If you are interested to read the whole piece, click on “Martin Lindeskog” Says: I will write a new post in the near future. I look forward to your feedback! :)

]]> By: Mary Grace Ignacio http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-626721 Mary Grace Ignacio Fri, 31 Oct 2008 07:23:31 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-626721 Thank you SBWD! :) Thank you SBWD! :)

]]> By: Tim Berry http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-626413 Tim Berry Thu, 30 Oct 2008 19:03:34 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-626413 Thanks Kenneth, but I can't claim I predicted anything really worth while because lots of people saw clouds on the horizon, and so did I, but some kind of a downturn was pretty obvious. I had no idea of the magnitude of what actually came. To me it's a great example of the black swam, as in it seems predictable after the fact, but wasn't. My reference to that earlier post was more because I think the ultimate idea, the distance between the macroeconomics and the small business specific situation, still holds. And Anita, thanks, and I don't think your view is pollyannish, I think it's middle ground. The sky isn't really falling. It just seems like it. Tim Thanks Kenneth, but I can’t claim I predicted anything really worth while because lots of people saw clouds on the horizon, and so did I, but some kind of a downturn was pretty obvious. I had no idea of the magnitude of what actually came. To me it’s a great example of the black swam, as in it seems predictable after the fact, but wasn’t. My reference to that earlier post was more because I think the ultimate idea, the distance between the macroeconomics and the small business specific situation, still holds.

And Anita, thanks, and I don’t think your view is pollyannish, I think it’s middle ground. The sky isn’t really falling. It just seems like it.

Tim

]]> By: Anita Campbell http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-626312 Anita Campbell Thu, 30 Oct 2008 16:05:37 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-626312 Hi Tim, Sticking close to your numbers and having metrics to watch is key in any economic environment, and especially when times are rough. Great points! I don't want to sound pollyannish, but we small biz people will get through the tough times. It may not be pretty -- but taking the right steps like you're outlined is what arms us to get through tough times and stay optimistic enough to believe that ultimately we'll go on to better days. Antia Hi Tim, Sticking close to your numbers and having metrics to watch is key in any economic environment, and especially when times are rough. Great points!

I don’t want to sound pollyannish, but we small biz people will get through the tough times. It may not be pretty — but taking the right steps like you’re outlined is what arms us to get through tough times and stay optimistic enough to believe that ultimately we’ll go on to better days.

Antia

]]> By: Amanda http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-626271 Amanda Thu, 30 Oct 2008 14:43:43 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-626271 Keeping close watch on all aspects of your business now is so important. It's best to be able to recognize a problem early before it gets too out of hand and unfixable. Keeping close watch on all aspects of your business now is so important. It’s best to be able to recognize a problem early before it gets too out of hand and unfixable.

]]> By: small business web design http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-626193 small business web design Thu, 30 Oct 2008 12:12:50 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-626193 Mary Grace, my initial impression is pretty good by looking at their website. I have not used them but I'm sure if you search for the business name and then reviews you'll find people that may have. That's what I usually do when I try to find out more about a company and it works. Best of luck. Mary Grace, my initial impression is pretty good by looking at their website. I have not used them but I’m sure if you search for the business name and then reviews you’ll find people that may have. That’s what I usually do when I try to find out more about a company and it works. Best of luck.

]]> By: Kenneth Taylor http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-626184 Kenneth Taylor Thu, 30 Oct 2008 10:38:45 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-626184 I love Small Business Trends. I've been subscribed for some time now and it never fails to inspire me. Although I'm a Brit(Welsh) I find the content relevant and valuable even though I've retired from my accountancy business. Even though I thought I knew everything there is to know about business planning Tim's thoughts and advice breaks new ground for me. I too am 60 years old but having watched impotently as my son's manufactuing business collapsed earlier this year due to the withdrawal of credit (not from banks but suppliers) I feel old and incapable of entering into the battlefield. I remember Tim's warnings, believe me, but the credit crunch which has crept up on us over the past two years was impossible to avoid. The Plan as you Go Business Plan requires a deep commitment by all people in an organisation but it is so difficult to inspire colleagues to think in a new way. Trying to convince people that a quadrupliing of input materials combined with a reducing cash credit limit was a recipe for disaster was the hardest thing to do. Competitors who may have say, a six month respite due to imported stockholdings exploit your weaknesses with no regard to the looming impact on their own price requirements. By then it is to late. I was on holiday when the crisis erupted and guess who I was reading? "The Age of Turbulence" by Alan Greenspan. I was deeply impressed by his undoubted intelligence. His essential value to the financial sector was his insistence on detail, the basic working of the economy right down to the elements which drives production and trade. Despite this expertise Greenspan admitted an ignorance of why the US boom did not drive up interest rates and consumer prices, untill he finally realised it was the intervention of Far Eastern market penetration. As late as July this year Greenspan added a chapter to update his thoughts and give a prediction for 2030. However, he did not even come close to predicting what was looming so close. You did Tim, so keep thinking and writing! I love Small Business Trends. I’ve been subscribed for some time now and it never fails to inspire me.
Although I’m a Brit(Welsh) I find the content relevant and valuable even though I’ve retired from my accountancy business.
Even though I thought I knew everything there is to know about business planning Tim’s thoughts and advice breaks new ground for me.
I too am 60 years old but having watched impotently as my son’s manufactuing business collapsed earlier this year due to the withdrawal of credit (not from banks but suppliers) I feel old and incapable of entering into the battlefield.
I remember Tim’s warnings, believe me, but the credit crunch which has crept up on us over the past two years was impossible to avoid.
The Plan as you Go Business Plan requires a deep commitment by all people in an organisation but it is so difficult to inspire colleagues to think in a new way.
Trying to convince people that a quadrupliing of input materials combined with a reducing cash credit limit was a recipe for disaster was the hardest thing to do.
Competitors who may have say, a six month respite due to imported stockholdings
exploit your weaknesses with no regard to the looming impact on their own price requirements. By then it is to late.
I was on holiday when the crisis erupted and guess who I was reading? “The Age of Turbulence” by Alan Greenspan. I was deeply impressed by his undoubted intelligence. His essential value to the financial sector was his insistence on detail, the basic working of the economy right down to the elements which drives production and trade.
Despite this expertise Greenspan admitted an ignorance of why the US boom did not drive up interest rates and consumer prices, untill he finally realised it was the intervention of Far Eastern market penetration.
As late as July this year Greenspan added a chapter to update his thoughts and give a prediction for 2030.
However, he did not even come close to predicting what was looming so close.
You did Tim, so keep thinking and writing!

]]> By: Mary Grace Ignacio http://smallbiztrends.com/2008/10/7-business-planning-fundamentals.html#comment-625990 Mary Grace Ignacio Thu, 30 Oct 2008 05:22:59 +0000 http://www.smallbiztrends.com/2008/10/7-business-planning-fundamentals.html/#comment-625990 Hi Tim, I too got my first job during this economic recession stage but I am hopeful still that we will continue to thrive to get the 'fire burning' and not just trying to survive as controlled by our fears. And yes, it's time to get back to basics. The advanced could have not serve its purpose with the existence of the basics. :) Hi Tim, I too got my first job during this economic recession stage but I am hopeful still that we will continue to thrive to get the ‘fire burning’ and not just trying to survive as controlled by our fears. And yes, it’s time to get back to basics. The advanced could have not serve its purpose with the existence of the basics. :)

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