Business in General

Attention Inventors

The American Inventor series is back with a $1 million prize, so dust off those prototypes and submit your entry. The New York Times has more on the story.

Every Business Plan is Wrong

by Tim Berry

As you develop your business plan, you have to realize that your business plan is wrong. All business plans are wrong. Plans are about the future--and nobody gets the future right very often, so keep the plan fresh and watch closely as reality moves forward. A planning process constantly watches the difference between the plan and actual results. Reality swallows our assumptions and we need to keep track of where, why and how we were wrong. This kind of tracking becomes the key to management.