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Top 10 Reasons to Write a Business Plan

There are many reasons why a business plan should be prepared. Regardless of  the specific reason, the underlying goal of preparing a business plan is to ensure  the success of the business. Here are the main reasons why a business plan  should be prepared. Are you ready to ask "what if?"
  1.  It provides you with the road map that you need in order to run your business. It allows you to make detours, change directions and alter the pace that you set in starting or running the business.
  2.  It assists in financing. Whether you are starting up a small business or are an established entrepreneur, banks and other financial institutions want to see that you know where you are, where you are going and how you are going to get there.
  3. The plan will tell you how much money you need, when you will need it and how you are going to get it; in other words, how you will do your financing.
  4.  It helps you clearly think through what type of business you are starting and allows you to consider every aspect of that business.
  5. It raises the questions that you need to have answered in order to succeed in your business.
  6.  It establishes a system of checks and balances for your business so that you avoid mistakes.
  7. It sets up benchmarks to keep your business under control.
  8. It helps you develop the competitive spirit to make you keenly prepared and ready to operate.
  9. It makes you think through the entire business process so that you do not open the business blindly or lack vital information in opening and maintaining your business.
  10.  It forces you to analyze competition.
Writing a business plan will give you a "GO" or "NO GO" answer about starting the business!
Click here for a 12:00 minute video that shows how to write a business plan.
The Workshop: There are more than 27,000 non-profit societies in BC, providing services and programs that touch virtually every citizen. The BC Society Act, which provides the rules for governance and incorporation of non-profits, officially proclaimed important changes on  November 28, 2016. There will be a two year transition period by which time all societies in BC will have to make the switch to the new Act. 

All organizations that are incorporated under the current Society Act must plan to complete their "transition application," with revised constitution and bylaws, by the time of their 2017 AGM. This workshop will provide the information on the bylaw and policy changes necessary for your organization to effectively make the transition.

The Qualicum Beach Chamber of Commerce will be hosting this workshop in partnership with the Town of Qualicum Beach on  Friday April 7 at the Civic Centre starting at 9 am. This is a half-day workshop; Cost is $22/ person. Must be registered/ paid by  March 24th - first come first served. Call 250-752-0960.


"Since no one manages me, it is vitally important that my home office is strategically set up the right way. I want it to motivate me to go after my goals on a daily basis." 

Startup founders were surveyed to find out more about how the home office is being used by entrepreneurs. A whopping 48% of the people surveyed spent over six hours a day working from their home office.

Read full article here   and get inspired!

Learn from a Small Business BC's webinar and save 10%.  Simply email Wanda for the coupon code before you register.  It's our gift to you to work ON your business. Have a look at the webinars available.

MAR 13 - PRICING AND COSTING YOUR PRODUCT - Setting prices is both an art and a science. The science is determining your costs ... and the art is understanding the underlying role price makes on customer buying behavior. 
Catalyst Home Staging and Designs 

With a business plan in hand, Jean Geldert went to a local bank and opened a business account, thinking it would be easy to get a start-up loan.  It wasn't.  When recounting her disappointment to her accountant, he recommended a visit to Community Futures Central Island, a non profit organization that provides small business loans, expert advice, tools and resources. 

" I am so appreciative of Community Futures for their faith and help to allow me to fulfill my ambition of opening my company. I am so fortunate that I get to do what I love, and the support of Community Futures really helped me achieve that," says Geldert.

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