4 Quick Steps To Start Your Small Business This Week

When it comes to starting a small business, most people wan’t to do because it means “financial freedom”, “no 9-5” and “be your own boss”, but most people are also lazy to actually get out there and start. The problem is the amount of work, preparation, research and the uncertainty of how to start your small business. 

Think about it for a minute. If you are currently employed you are most likely working a full time job 9am to 5pm, when do you really have time to sit down and do the necessary research on how to start a small business? Even worse is how do you know what kind of research you need to do.

Most entrepreneurs have “the idea” and they want to make it work, but what is missing is the entire business surrounding that idea and the blueprint on how to make it work.

So this week what we are going to do is to simplify your process of starting a small business.

4 Quick Steps To Start Your Small Business

Quick Step #1: Forget everything that you think you know about business and how to start a business. Start by writing down your idea on a piece of paper along with why you think the idea will be a good business model, who your competitors are, how you are different and how your solution is the right one for the customer versus the competition.

Quick Step #2: Once you have your idea written down on paper, the next step to starting your small business is to create a business plan. A business plan is the key to success for any small business, no matter of it’s size, industry or goals. You can write your own business plan, outsource the writing work or use a tool such as the Business Plan Builder Tool which guides you every step of the way in a fill in the blanks style format. To get started with the Business Plan Builder, register to become a member of CanadaStartups and get access to it, along with other tools and resources needed to help you succeed.

Quick Step #3: Once you have a business plan in place you are good to go and register your small business with your local business registration office. If you aren’t familiar with the steps of starting a small business past the business plan stage, CanadaStartups Small Business Startup Platform has the exact tools and resources you need. Once you are a member you will be provided with the Startup Guide and timeline, which will guide you step at a time through everything you need from startup, to funding, to launching your small business.

Quick Step #4: Whether you join CanadaStartips and  become a member or not, your next step after having a business plan in place and a registered business is to seek funding. Funding is the reason for many startup businesses failing. The lack of, or improper funding use causes these issues. Before you seek funding from banks, private sources or the Canadian government be sure to know if you really need funding, how much you need, what you need to use it for and how it will benefit you if you are successful at obtaining the funding. Another useful tool to help you search for funding is the Funding Database offered by us here. With over 1,500 funding sources in the form of government grants, government loans, tax credits and private investors, you will surely be able to use the database to find sources which could help your cause.

These are 4 simple steps to get your small business started this week. By using third party assistance to get your business moving in the right direction you are gaining the experience and the knowledge of experts in the industry versus trying it all out on your own. Best to focus on your own business (your customers, your product..etc) then to have to learn how to start a business.

To become a member of CanadaStartups, you can do so by simply visiting the membership page found here.