Community Futures Lloydminster and Region
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Business Planning Tools


We offer:

  • New venture analysis
  • Business planning tools
  • Marketing studies
  • Resources for financial planning
  • Business tips

Contact us for more information. Our staff members are always available to answer questions and provide information about starting a business.

 

Business Planning Tools

Community Futures has new online loan application and business planning website. Follow this link to get started on your application today!

The Road Ahead logo

 

CLICK HERE for an online interactive business planning tool.

Starting a Small Business Resource Guide.

 

Business Tips

Starting your own business requires planning and knowledge of your product or service. Here are some tips to help you start off in the right direction.

Step 1:
Be relevant. What is unique or distinct may not be relevant now or in the future: consider what is desired in the community. A good business idea starts with a clearly defined concept.If you are considering starting your own business, start by doing as much research as possible. Define the type of business you would like to start, with a much detail as possible.

Ask yourself:

  • What is my competitive advantage?
  • What makes my business different from all of the other businesses doing the same type of thing?
    How will my business be relevant?

Step 2:
Do your market research. Conduct a thorough investigation of the business you are about to enter. Get to know your customers - their characteristics, their habits, their hobbies, what type of lifestyle they live and how much they spend on particular items and when. Get to know the industry you are interested in entering; your product or service, trends, life cycles of
products, etc.

Step 3:
Develop a business plan. Failing to plan is planning to fail.

Why do small businesses fail? There are many different reasons why some small businesses fail. Some of the more common mistakes are:

  • Treating your business like a hobby
  • Under financed, starting out with too little cash
  • Over estimate sales
  • Under estimate expenses
  • Bleed the business
  • Poor planning
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