Category: Business Plans
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John Warrillow – The Glenn Beck of Canadian Business?
Like our readers, we keep our eyes open for business insight on the web. We came across John Warrillow, a writer for the Globe and Mail. He comes with the credentials of a newspaper writer – published author, successful businessman. It’s quite shocking to read his blog. Each post contains a statement that is either…
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We Just Need 2% Of The Market
I don’t know how many times I’ve heard entrepreneurs say this or how many times I’ve read it in a business plan. It seems simple, right? How could the business not get such a small percentage of the market? And given that the market it huge, they’ll be doing 8 figures by their third year….
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WestJet’s Competitive Advantage
Carrying on from last week’s blog “Finding Your Competitive Advantage,” this week we look at how WestJet found success by finding its niche in the airline industry. WestJet is a unique case because it was able to position itself as a company that offered both lower prices and better service than its competitors. That’s something…
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When is the right time to go for funding?
When starting a business, a common problem is a lack of cash. In fact, many of our clients believe simply having enough funding would solve their problems. While it can be partially true, this kind of thinking can be disastrous for a startup. Here’s why. What lenders and investors look for When assessing lending or…
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Finding Your Competitive Advantage
Before investing in a business, one of the most important things to identify is your competitive advantage. Answer the question “why would customers choose your product/service over competitor offerings?†What makes you stand out from the competition? I’ve found that not enough thought goes into what a company’s real competitive advantage is and many companies…
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What Is A Business Plan?
If you’re thinking of starting your own business, you might be doing some research online. Whether it’s in blogs like this one, forums or question and answer sites, they will all tell you to write a business plan. Unfortunately, that doesn’t do you much good if you don’t know what a business plan is. The…
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Are Business Plans Useful?
So what’s the deal with business plans? Do they serve a real purpose or is it simply a document people need to fulfill loan requirements. The reason I’m asking is that it’s a question that’s often asked or implied when the topic of business plans comes up. Is a business plan really useful? Well, for…