Say you have a great idea for a business. Then what? You can take that idea and build on it. Once your business idea has been fleshed out and thought through, you can take your idea and put it together to form a business plan. Business coach, Vern Vautour of Biz Coach Services Inc. says that a business plan “is usually a comprehensive document that sets business goals over a time line, including: specific direction, budgets, operational and human resource requirements, set-up and policy, market plans, structure, while the summary research conducted, should validate and rationalize the viability and credibility of the business plan.”
A business plan is a great asset to have because:
- It outlines your business objectives.
- It can help determine the growth and progress of your business.
- It is useful if you want to obtain external funding from financial institutions and/or investors.
Having a business plan, especially for entrepreneurs that are starting out, is a great way to have all the goals you want to accomplish written down on paper. However, in order to write a business plan, it is recommended to make sure that your business idea is thought out and viable.
Having a well thought out plan to achieve your business goals will benefit you in the long run as well as show any investor/financial institution that you are credible and a good investment. Vatour emphasizes the importance of good research saying, “good research leading to a solid set of assumptions based on trends and potential market(s), combined with good budgeting, especially cash flow, would be in my top list of things most important in a business plan.”
If you are interested in taking your business idea and developing it to its full potential, check out this upcoming seminar below!
On Wednesday, June 14, 2017 from 6:30 p.m. to 9:00 p.m., the Mississauga Business Enterprise Centre (MBEC) is hosting a seminar on “How to Develop Your Business Idea and Plan”.
Over the course of this seminar, you will learn how to:
- Develop the key components needed in a professional business plan.
- Plan your marketing strategy.
- Outline your operations for the business.
- Outline your financial planning for the business.
If you are interested in taking this class, pre-registration is required. Space is limited. Registration can be done in one of two ways.
- Visit activemississauga.ca OR
- Visit a Customer Service Centre at your local community centre or on the ground floor of the Mississauga Central Library
Planning to start or grow your business? MBEC can help!
MBEC is your central source for business information, resources and guidance. For information and guidance from business professionals, visit MBEC on the fourth floor of the Mississauga Central Library or online at mississauga.ca/mbec. You can also reach a member of the MBEC team at 905-615-4460 or email at email@example.com
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