If you have a business idea or an idea that you want to turn into a business, using the Business Model Canvas as a tool to assess the viability of that business idea is critical. Every successful entrepreneur has gone through a similar exercise, so if you're not convinced yet, let me show you how the Business Model Canvas can help you assess the key areas in your business and their potential for success.
Blog Category: Startup
Now that the holidays are over, it is time to launch right back into our routines and begin planning for the rest of the year. For a lot of people, that means making New Year’s resolutions. Whether you plan to exercise more, spend more time with loved ones, or take that big trip you’ve been planning, a new year always brings the feeling of an opportunity to make a fresh start. While you’re making resolutions for your personal life, it’s a good time to consider what you want to achieve in your business as well.
Business Link has seen a record year in 2017 with over 15,000 interactions occurring across the province between January and November, up 45% from the same time in 2016… and the year is not yet complete!
The legalization of marijuana is estimated to give the Canadian economy a boost of $12.7 – $22.6 BILLION, according to a study from business services firm Deloitte. While you’ll need millions of dollars to become a marijuana producer and you’ll need tens of thousands to open a retail location (See: Cannabis-ness Succeed? The Straight Dope), what’s left for the rest of us?
Whether you don’t yet have a business, or have been running a business for years, market research can be of value to you. But what is market research, you ask? It’s about gathering information on your industry, customers, and competitors so that you’re more aware of what’s going on around you. Once you have this information, you’re in a better position to avoid costly mistakes and make business decisions related to marketing, operations, and the business’ financial situation.
Thirty-five years ago if you asked my father what he did for a living, he would say he was a business owner and there was no degree in the world that could teach you this stuff! Fast forward to now, and if I asked the same question, most people would say they are entrepreneurs and you can get a degree in entrepreneurship from a number of Universities.
These days, when the entrepreneurial bug bites, many hopeful small-business owners launch social enterprises—businesses that tackle social, cultural or environmental issues by “being part of the solution” while simultaneously turning a profit. Large and small, there are thousands of these businesses across Canada, and their numbers continue to grow.
Delree’s Native Art Gallery is located in the quaint town of Didsbury, 80 km north of Calgary. It opened October 6, 2015, which is also Delree’s mother’s birthday. Every year on October 6, they have a celebration in honour of her and her Birthday. Delree’s Iconic Sign hangs above her storefront adorned with one of her very first paintings: “Waiting for Grand Entry” – a rear view of a jingle dress dancer.
Crowdfunding can be a great low-risk way for startups to get financial support for their business ideas. As I recently ran my own crowdfunding campaign, I learned a few things along the way that might assist other entrepreneurs. Here are a few tips that can help make your crowdfunding campaign a success!
The government announced a huge policy change that revolutionized the face of business in profound ways. This was back in 1993 when the Alberta government decided to privatize liquor sales. Up to that point, liquor sales were done in a cold, formulaic way that only a government could. The government of the day decided to open up the market to private enterprise, and everywhere you looked, everyone you talked to, people saw opportunity and money. I watched the whole thing unfold with rapt attention.