@Startup_Canada@scotiabank A8: Creating a business plan if you don’t need one. Investors will want a compelling 1-pager and a max 15-slide pitch deck, and most other businesses I recommend starting with Business Model Canvas. https://t.co/Drr8a8NGTt #StartupChats
@Startup_Canada@scotiabank A7: First, expect that you won’t be able to follow your business plan. Root into your WHY, your bigger mission, and purpose, and make decisions from that place and space. #StartupChats
@Startup_Canada@scotiabank A6: I recommend once a quarter, with one caveat - to use your business plan as a guide only. All entrepreneurs must be nimble, listen, test, and tweak in this ever-evolving market and world. #StartupChats
@Startup_Canada@scotiabank A5: Visit your local Small Business Enterprise Centre or Business Development Centre. For Ontario, a great resource is: https://t.co/Co54dKS1wW #startupchats
@Startup_Canada@scotiabank A4: Business plans include an executive summary, company overview, market/customer/competitive analysis, marketing/operational/HR plan, financials, and projections. I recommend Business Model Canvas over a Traditional Business Plan unless you’re applying for a bank loan.
@Startup_Canada@scotiabank In my professional opinion, most businesses DON’T need a formal business plan, unless you are applying for a traditional bank loan, but every business needs a plan. ;) #StartupChats
@Startup_Canada@scotiabank A business plan is a document containing the goals of your business, and the strategy for attaining those goals. Think of a business plan as your marketing, financial and operational roadmap. #startupchats