Why This Matters
The purpose of a business plan is to help articulate a strategy for starting your business. Your plan should include explicit objectives, such as resourcing requirements, market analysis, financial projections (cost and revenue targets), and will help crystallize your ideas into meaningful, actionable objectives. These objectives should indicate how they’ll help your business prosper and grow. Even if your business is already operating, building a business plan is a helpful tool to keep you focused on the activities that will allow your business to flourish.
Resources
How to Write a Business Plan – If your business is all in your head, it’s hard to convince lenders, investors and shareholders that you have a credible company and that you’ll use their funding well. And that’s precisely where a business plan comes in. BDC also includes a great template to download.
Steps to Writing a Business Plan – Learn how to write a business plan for your small business today. QuickBooks has a great template to download.
Business Road Map from Shopify – How to write a business plan and a roadmap you will actually use. A slightly different spin on the traditional business plan.
Business Model Canvas
The business model canvas is a great tool to help you understand a business model in a straightforward, structured way. Using this canvas will lead to insights about the customers you serve, what value propositions are offered through what channels, and how your company makes money. You can also use the business model canvas to understand your own business model or that of a competitor.
How To: Business Model Canvas Explained – This is a great article explaining the tool.
Business Model Canvas Complete Guide – A helpful ~2 min video explaining the tool.
Business Model Canvas Explained – A guide that explains the Business Model Canvas, along with steps on how to create one.
Business Model Canvas Breakdown – An in-depth explanation of the business model canvas and walks through the contents of each section.
PS. If you have an idea for a start-up product or service another great is the Market Validation Training Program.
Recommendations
Business Plan Template from BDC – A favourite of ours, the BDC business plan template.
Business Plan Writer from Futurpreneur Canada – An interactive business plan writer.