Last year in our blog, we discussed the Six Big Steps for Starting a New Small Business. The first step is to generate and clearly define your idea.
We have learned through consultations with our clients that the entrepreneurs who go the furthest in their business development, and generally feel that they have achieved the most during their time with us, are the ones who can clearly describe their business concept in our first meeting. They may not know all of the inner workings of their business plan, processes and rules, but their ability to clearly describe and define their vision for the business is essential. Clearly defining their business idea provides them with the focus they need to successfully complete the next steps of conducting research and writing a business plan.
To help with this step we have developed a worksheet called “Let’s Talk,” designed to help a new small business owner develop their business idea.
- What is your business idea?
- Who will buy your product?
- How much money will you need to start your business?
- How much money will you need to earn to meet your personal financial needs?
At this early stage in business development the answers to these questions may include assumptions rather than confirmed facts. This is acceptable as the assumptions are either confirmed or corrected during the research and planning stages of the process.
You can view the more detailed questions by clicking on the picture of the worksheet above. The Consultants at the Halton Region Small Business Centre are available to provide free one-on-one consultations for entrepreneurs at any stage for thinking about, starting, or growing a small business. For more information about Halton Region’s Small Business Centre resources, services, business events and seminars, contact us by dialing 311, 1-866-442-5866, visiting us online at www.haltonsmallbusiness.ca, by email at firstname.lastname@example.org or visit us at 1151 Bronte Road, Oakville. You can also follow us on Twitter and find us on Facebook.