A Smart Bear: Startups and Marketing for Geeks

MARCH 21, 2017

Revenue multiples, profit multiples, premium over the previous financing — these are metrics used by sellers to help determine a minimum acceptable price. In terms of acquisition, they ask more specifically: “How can we trade balance sheet assets (cash, equity) in exchange for executing our strategy better?”.

Balance Sheet 242

Balance Sheet Vertical Acquisition Revenue 242

Up and Running

OCTOBER 3, 2018

What they don’t usually show on screen on shows like Flip or Flop is that writing a business plan is a must. If you’re thinking about starting a business that buys up homes, fixes them up and then re-sells them at a profit, the first step is to write a business plan. It serves as a mini version of your entire plan.

El Paso 61

El Paso Business Plan Technical Review Forecast 61

Up and Running

SEPTEMBER 15, 2016

Most people think of the business plan as a one-time event, something used to accomplish a specific goal—getting funded, usually. The business plan, in its many different formats, can be used for a variety of purposes, including validating an idea, getting funded, and managing a business successfully.

Business Plan 60

Business Plan Lean Forecast Balance Sheet 60

Up and Running

MAY 30, 2022

One of the most important things you can do to increase your chances of success is to have a business plan. From attracting potential investors to keeping your business on track—a business plan helps you to achieve important milestones and grow in the right direction. And it’s not just for startups.

Business Plan 150

Business Plan Balance Sheet Revenue Metrics 150

Up and Running

FEBRUARY 10, 2021

A key to making this entire process much easier is to invest a little time and write a business plan. It’s true — not all investors will ask to see your business plan. Why do investors want to see a business plan? The business plan document itself isn’t what’s important to investors.

Business Plan 138

Business Plan Forecast Balance Sheet Exit Strategy 138

Up and Running

APRIL 13, 2021

If the accounting divides sales into meals, drinks, and other, then the business plan should divide sales into meals, drinks, and other. If your accounting summarizes categories for you – most systems do – consider using the summary categories in your business plan. Accounting needs detail, while planning needs a summary.

Forecast 147

Forecast Matching Balance Sheet Software Review 147

Steve Blank

MARCH 26, 2019

It’s hard to imagine, but only a decade ago, the capstone entrepreneurship class in most universities was how to write – or pitch- a business plan. In my experience, I saw that most business plans don’t survive first contact with customers. As a serial entrepreneur turned educator, this didn’t make sense to me.

Lean 248

Lean Business Model Balance Sheet Video 248

Up and Running

MARCH 17, 2020

If you’ve been putting off writing your business plan, you’re not alone. Writing a traditional business plan can seem like a daunting task, and lots of entrepreneurs avoid it for this reason. What is a one page business plan? The benefits of a one page business plan. But it doesn’t have to be.

Business Plan 86

Business Plan Balance Sheet Lean Forecast 86

Up and Running

APRIL 2, 2015

One of the first things overly-optimistic entrepreneurs discover as they look for funding is that banks don’t fund business plans. Would you want your bank to invest your checking account balance in a startup? Business plan. See Also Small Business Owners, Start Tracking Your Financial Metrics.

Balance Sheet 60

Balance Sheet SBA Covenant Technical Review 60

Up and Running

OCTOBER 23, 2020

This element spurs discussion, exploration, and defined context for any variance found between your plan and actual results. This isn’t a straightforward numerical metric and is relatively complicated to define. You can get a headstart on building your own data sheets with our sales forecast and balance sheet templates.

Management 117

Management Forecast Software Review Balance Sheet 117

Steve Blank

MARCH 4, 2014

But now, as the business model is repeatable and scalable, most employees take the business model as a given, and instead focus on the execution of the model – what is it they are supposed to do every day when they come to work. They measure their success on metrics that reflect success in execution, and they reward execution.

IRR 335

IRR Startup Business Model Agile 335

Up and Running

NOVEMBER 19, 2012

A financial plan with a Sales Forecast, Profit & Loss , Cash Flow Forecast , and Balance Sheet. An action plan with milestones scheduled and accountability. Performance tracking to compare ACTUAL financial results with your planned financials and other key metrics. Do you need to price higher?

Lean 83

Lean Small Business Forecast Technical Review 83

Up and Running

SEPTEMBER 3, 2015

Market research does not have to be a part of the business planning process. We seem to be furthering the misconception that market research is supposed to be part of a business plan. That limits the applicability of business planning to a subset of those who need it. Create a marketing and sales plan.

Elevator Pitch 60

Elevator Pitch Startup Balance Sheet Forecast 60

Steve Blank

MAY 14, 2012

Writing a business plan that doesn’t allow for trial and error. Traditional business plans and product development models have one great advantage: They provide boards and founders an unambiguous path with clearly defined milestones the board presumes will be achieved. After all, it got the old VP fired, right?).

Balance Sheet 335

Balance Sheet Business Model Customer Development Metrics 335

Up and Running

APRIL 23, 2019

Invest the time in a solid business plan. Writing a business plan —even a Lean Business Plan that’s short and easy to update—will help. It’s proven that companies that do business planning grow 30% faster. Create accountability through metrics. Create accountability through metrics.

Metrics 88

Metrics Balance Sheet Business Plan .Net 88

Steve Blank

JUNE 1, 2011

The Wrong Metrics. Traditional startup board meetings spend an insane amount of wasted time using Fortune 100 company metrics like income statements, cash flow, balance sheet, waterfall charts. The only numbers in those documents that are important in the first year of a startup’s life are burn rate and cash balance.

Silicon Valley 290

Silicon Valley Business Model Venture Capital Balance Sheet 290

Steve Blank

SEPTEMBER 23, 2014

Over the last few years it’s become clear that the days of teaching “how to write a business plan” as the cornerstone of university entrepreneurship are over. We now understand the distinction between startups – who search for a business model – versus existing companies – that execute a business plan.

Lean 284

Lean Cleveland Balance Sheet Ohio 284

Up and Running

OCTOBER 29, 2015

While some entrepreneurs think it’s unnecessary to write a business plan—especially if outside financing is not needed—I highly disagree. The disciplined process of business planning helps owners and managers foresee both opportunities and problems before they arise. In short, it’s just good business.

Business Plan 60

Business Plan Due Diligence Intellectual Property Valuation 60

Steve Blank

JUNE 1, 2011

The Wrong Metrics. Traditional startup board meetings spend an insane amount of wasted time using Fortune 100 company metrics like income statements, cash flow, balance sheet, waterfall charts. The only numbers in those documents that are important in the first year of a startup’s life are burn rate and cash balance.

Silicon Valley 258

Silicon Valley Business Model Venture Capital Balance Sheet 258

Up and Running

MARCH 9, 2022

Knowing your debt to capital ratio is essential for a business owner to see the distribution of resources and adjust spending and borrowing as needed. You can find these values on your corporate balance sheet, or you can calculate them on your own. Debt-to-equity ratio = (total liabilities)/(shareholders’ equity).

Equity 136

Equity .Net Balance Sheet Operations 136

Feld Thoughts

AUGUST 12, 2011

Tie the P&L forecast to the Balance Sheet and Cash Flow Statement and generate snapshots of what the Financial Statements will look like each year for the next 5 years. Tie each round of funding to a set of key milestones in the development of your product/business. This should tie to your GL for “Actuals” (i.e.

Balance Sheet 136

Balance Sheet Forecast Cap Table Early Stage 136

Up and Running

FEBRUARY 17, 2016

But, the good news is, if all these people could start a brewery, then you can too—as long as you know what you’re getting into and have a solid business plan for your brewery. Patrick sees his role not just as analyzing a business plan or crunching numbers. There’s no one model—or one business plan—for breweries.

Oregon 60

Oregon Jordan SBA Cofounder 60

Up and Running

MARCH 11, 2015

She is regularly invited to participate as a judge for business plan competitions, as well as speak on topics including entrepreneurship, angel investing, social media, and authentic self promotion. Needless to say, the webinar was absolutely packed with great tips on what it takes to pitch your business so that investors take notice.

Technical Review 60

Technical Review Software Review Due Diligence Exit Strategy 60

Up and Running

MAY 15, 2019

But, the good news is, if all those people could start a brewery, then you can too—as long as you know what you’re getting into and have a solid business plan for your brewery. The Hughes brothers developed a solid business plan and built a core team to bring their vision to reality. Review your business plan regularly.

Oregon 24

Oregon Jordan Software Review Distribution 24

Professor VC

AUGUST 26, 2011

To that last one, there is certainly some truth as the standard time vs. revenue chart in most business plans looks like this: Im not teaching Entrepreneurial Finance this semester for the first time since Fall 2007. What are the key drivers and metrics? Is the model consistent with the business plan?

Silicon Valley 35

Silicon Valley San Jose Hockey Stick Venture Capital 35