Business Plan

Lenders and investors need to see the potential in a business and the credibility of those presenting before they invest in an idea, just like you would do thorough research before buying a house or a car. This is what makes business plans extremely useful and critical to raise loans and investments.  Even a small mistake in the business plan can cost you your potential investments. Lenders...

COVID-19 Economic Crisis is a historical event in making! In the future, this economic event of 2020 is going to be referred to alongside the great recession of 1932 and 2008. This will be always a case-study for how diseases and epidemics affect globally connected economies. COVID-19 crisis has certain unique differences from the previous global recessions. Whilst the 2008 crisis was...

How Small Businesses and Entrepreneurs can take advantage of COVID-19 situation – a Positive Perspective There is no doubt about the economic damage inflicted by COVID-19. It has wiped out the savings and growths in investment portfolios, bashed the seniors by wiping lifetime savings and gains in their RRSPs on top of health issues, sent the non-essential workforce to home, and put the...

An executive summary is a must for your business plan. In fact, it’s what your business plan begins with, capturing the essence of your business concisely. It highlights the main points of your business plan and includes key objectives and purposes. Getting your executive summary right is crucial. The summary should make investors curious to know more about your business. However, the...

When you are writing your business plan for a startup or an established business, you need to be clear about your audience. Who are you selling it to? Who are your ideal customers? You need to take a look at everything from the demographics to the psycho-graphics and even the special characteristics, if any, of the audience in question. When done right, the market analysis section of your...

Preparing a good business plan is a time-consuming task that requires dedication and far-sightedness. Many entrepreneurs choose not to craft a business plan before going ahead with the execution of their idea since it is a time-consuming affair. However, research has shown that business plans can give positive returns in the long run, ensuring your business does do more than just staying...

Your business plan is incomplete without a clear business concept. If you don’t highlight what your business is about, your plan is missing its key component; business concept about which you are writing the business plan. Its like writing a plan for something and that very thing is missing! However, many entrepreneurs face challenges when articulating their business concept in a...

Bored by your 9 to 5 work life? Is there an inner voice urging you to escape the mundane professional life, the grunts of your boss? Is your mind innovative enough to brainstorm ideas and transform them into successful businesses? Are you willing to be bold enough to choose the path less travelled when the two paths of business and job diverge in the woods of professional life? If so, have a...

No doubt, the Financial section is one of the most critical areas of the business plan writing process! You should not be surprised if you gave your business plan to someone and that person immediately flipped through all the pages to jump to the financial section. No matter how awesome or great your business concept is, nobody will be interested in it if it lacks commercial viability. The...

A Canadian Perspective to business plan writing… Recall your middle school teachers insisting you on making a routine for the completion of your syllabus. Why would you do it? How would you frame your routine? And what points would you consider before planning your schedule? The goal was to regulate your time and syllabus, and score a decent grade! A business plan is nothing different! In...