Business plans are the foundation on which successful businesses are built.
Create the roadmap that lays out your business proposal and the route to your successful company. But don’t let it gather dust in a drawer. Use your plan to steer your strategic management. Keep your business strategy and action plan alive and updated and watch your business grow.
Define your strategy
Strategic planning clarifies your long-term goals and the steps necessary to achieve them. Based on your business plan, a clear business strategy lets you envision where your company will be in the future—and provides you with a map for getting there.
COVID-19 Cash flow management strategies
Financial survival has been top of mind for many business owners since the first lockdowns were declared in March of 2020. Almost 40% of Canadian entrepreneurs are now…
Local marketing & advertising strategies
According to the Small Business Administration, a third of businesses with employees don’t survive beyond two years. But once you’ve made it through the difficult…
Family successions: How to minimize your taxes
Planning can help you significantly reduce your tax liability in a succession. Failing to do so could mean the business has to close or be…
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Benefits of succession planning
Planning a successful business succession takes years. According to experts, transitions can take up to five years to complete and, in the case of a family…
Succession planning: Secrets of a smooth transition in a family business
You started your business 30 years ago with a few family members and now you have a 100-employee company and your adult children are actively…
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5 ways to recession-proof your business
Diversification and financial management are key strategies The recession of 2008-09 may have occurred nearly a decade ago, but it’s still a painful memory for…
7 mistakes to avoid when borrowing money for your business
Borrowing too little or too late can jeopardize your business Getting a business loan can be the fuel your company needs to reach the next level of…
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How to prepare a winning business loan application
Preparing an effective, well-documented commercial loan proposal is the first step toward getting the money your business needs from a bank. Your small business loan proposal will often be…
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A step-by-step, no-nonsense marketing plan
Every marketing plan should include these five elements Doing business without a marketing plan is like driving without a map. You may get to your destination—eventually—but you…
7 low-cost marketing strategies to implement now
You know it’s going to take a marketing push to meet your sales goals this year. But your budget is tight and you’ll need to…
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How to create a customer loyalty program
A good customer loyalty program can generate significant gains in recurring revenue for your business by improving the return on your marketing and sales budget.…
Free and low-cost customer relationship management (CRM) solutions for your business
Contrary to popular belief, customer relationship management (CRM) is not just another type of business management software; it is a business strategy to acquire, grow…
Automate your digital marketing strategy
I’ve previously written about content marketing and its importance to small businesses trying to connect with customers. An associated concept is marketing automation. It’s a term that…
What is content marketing and why is it so important?
When an entrepreneur builds a new website, starts using social media or creates a blog, the same question always comes up: “What should I talk about?”…
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Using customer satisfaction surveys to attract new clients
Follow these tips to gain additional insights about your customers Are your customers satisfied with your products or services? Do you know what they like…
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Uncovering your business strengths & weaknesses
Use this tool to improve your strategic planning An analysis of your company’s strengths and weaknesses should be a key component of your strategic planning process.…
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Strategic planning: frequently asked questions
Some entrepreneurs might not see the benefits of strategic planning or know how to proceed. Here are answers to some of the most common questions and concerns…
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How to thrive during a recession
Too many companies go into hibernation when times are tough. They cut costs, conserve cash and act as if they’re on the verge of bankruptcy…
How to form an Advisory Board
Why should I bother with an advisory board? There’s increasing recognition that effective advisory boards provide excellent support to business owners for a minimal cost. Instead of asking…
Trade shows: 6 ways to find potential customers
Use these tips to get the most out of your trade show investment Trade shows provide face-to-face contact with people who are looking for products, expertise, and…
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How to develop your supplier relationships
Developing good connections with suppliers—sometimes called supplier relationship management—is critical to business success. Businesses are increasingly relying on suppliers to help reduce costs, innovate, improve…