The business start-ups section is organized in the following sections. The business planning website listed in the related links section include interactive business planners, which can save some time in your research, composition and formatting of your official business plan.
Assessing your great idea — This is where you can answer ten sets of questions to test your business idea’s worth. Is it feasible? Is it worth the risk and effort? Have you thought of the basic questions?
Would you enjoy you as the boss? — Are you ready to run your own business? Do you have the leadership skills to get the product or service into the marketplace while supervising others successfully? Being the boss can be lonely and require long hours — and you need to live with the decisions you make. If you think you are ready, take the test here in this section.
Financing basics — Running preliminary costs and sales predictions through in banking recognized formats is essential. You will need to research real costs and estimate sales. Does it make sense? What is the bottom line?
Choosing the structure — The legal structure is typically determined by the nature of the business and type of licenses required. Creating the proper corporate or business structure can protect your family assets, save at tax time and mitigate losses due to risk and liability. Certain business structures will give you credibility in the marketplace as well.
Is the red tape a deal breaker? — Some businesses are easier to get into than others. Those requiring permits for Crown Land assets, special access to large areas of government land, businesses with environmental or food safety concerns or highly regulated industries (aviation, shipping and the like) may require years in the application process and considerable resources.
Communications in the 21st century — The internet gives small, local businesses worldwide lift. With the ease of global reach, small companies have to appear large with clear, consistent, professional and efficient communications with more than customers. Consider how your message will give you better relations with suppliers, lenders, public stakeholders, competitors and communities.
Networks and mentors — Business is all about the relationships. Be prepared to make conscious choices about who will be your mentors and who is just giving you friendly advice. Business networks might get you to ask the hard questions about your business strategy — and also be there with sound advice to steer you to solid answers. Don’t assume all is given as free advice though.