Creating a clear and well-researched business plan is the starting point in launching any successful business. But did you know that you might need different variations of your business plan, depending on your audience? Most business owners don’t think about their target audience when writing their plan, but it’s actually the first thing you […]
If you’re running a small business and have watched your success steadily grow over the years, it might be time to consider incorporating the business. As with any business decision, there are both pros and cons to incorporating. One of the biggest benefits is that your business becomes a separate legal entity, meaning that any […]
It’s not uncommon for small business owners to be so in the thick of things with the day-to-day operations of their business that little thought is put into what will happen when they’re ready to get out of the business. But as an owner, your time in the business will one day need to come […]
Selling a business isn’t something that can be done on a whim. Well it can, but you’re not likely to get the outcome you desire. As a seller, you want to fetch the best possible price for your business – and getting it depends on the strength of your business’s operations and its structure. It […]
A business plan is the blueprint for your business. It gives your company a cohesive focus, provides direction for your everyday activities and acts as a roadmap for your overall growth. And while every successful business needs a business plan, including a business development plan as part of it is so often overlooked. Without one, […]
The end of the calendar year is the perfect time to take a step back from day-to-day operations and reflect on the overall bigger picture of your business. Start by reviewing the objectives you set for your business at the beginning of the year. Did you meet these business goals? If you didn’t, now is […]
Year-end is the perfect time to review your business metrics in order to analyze the areas that are running smoothly versus the areas that need improvement. Two such metrics to examine are sell cycles and close rates in each of your markets. For starters, this will give you an idea of whether you can squeeze […]
Small business owners in the day-to-day thick of things frequently don’t put much thought into what they’ll do when they’re ready to get out of business. In fact, the Canadian Supplement to the 2014 PwC Global Family Business Survey found that more than half of family businesses are expected to change hands by 2019 but […]
It always frustrates me to look over someone’s business plan, and find it missing key components to make it useful. And by useful, I mean both actionable – detailing the steps you should take through the year – and evolving to show progress over time. I’ll explain why it should fulfil both of these functions. […]
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