Business Planning Services Plan

How strategically your exit plan -

Your business plan is a valuable roadmap that will guide you through the start-up, and how your business grows and develops. It can be your guide as you leave your business.

leave a company, which is also known as succession planning, usually is not as easy as you close your doors. Whether you sell your business, to transfer it to family or friends, or close your business well, there are various legal, tax, financial and emotional impact that you should anticipate and plan for well before you choose or are forced to leave your business

to develop your exit strategy

to explore your options carefully, and the impact of each

There are four general ways to exit your business consider: ..

• transfer your business to a co-worker, family member, friend or other
• Sell your business
• Close your business
• bankruptcy

see our Legal requirements egress for more information about each option. If you are unsure which option would be for your business best and personal circumstances, we strongly recommend you to consult an accountant and a lawyer before you make any decisions.

Detail Every element of your exit strategy

should be composed your exit strategy from several different plans.

• succession. If you buy, sell, share or dissolve a business, there are a number of issues and regulations that aware of.Refer our Legal Requirements-exit section for more information.
• operating plan. Depending on the type of follow-up have to be in the eye need your business should have a plan of operations that includes contingencies for legal and contractual obligations and employee termination. See our Operations Management exit section for guidance.
• personnel plan. If you have employees, you must be aware of and consider to be their rights, if you plan to sell or solve your business.Refer our Human Resources Exiting section for advice.
• market research plan. If you plan to leave your business, you can market research to understand the value that could bring your business, if you put it up for sale. Check out our market research Exiting by section, as marketing research to prove the value of your company.
• marketing plan. Depending on your particular circumstances and reasons for the liquidation and your timeline, you may or may not be able to get full value for your assets and inventory. Advance planning, you can be better prepared. Consult, if and when you need to liquidate your company our marketing sales-exit section for some strategies to get the most value.
• budget. The sale of your company, it broadcast to your family members or others, or close for good (either by dissolution or bankruptcy), triggers a series of financial events that you need to solve. Consult. To our finance section for guiding exit

Why do it the hard way? Learn from those who have been there -

There are several important factors for small businesses. Although some of them are specific to your industry to be informed and to your industry and your customers is universal.

Thus, education and networking are valuable tools for operators at all stages of business, but especially when you start out

Some of the small business owners we the privilege of working with Concur meaning connected and reaching out to professionals have to stay to help you as you start your business.

"to be a good accountant speaking and a good lawyer. Even if you can not afford, they will often contact you for a consultation and give you tips to help you transition to a larger company far less painful is "

-. Catherine McLaren and Eugene Lin, from Kiss My Flash Photography

"Our advice would be to use all the online resources through the SBBC site and others. Look around to get there and talk to other entrepreneurs Vancouver has such a rich culture of small business owners -.. the network is huge and everyone is so helpful and willing to give advice and guidance All you need to do is to ask "

-. Kelly Eng and Dhana Cruickshank of BiaGirl Media Inc.

"be prepared, however, expect the unexpected Plan devoted to your business for the first five years, if you in. yourself and your product or service believe and continue to invest in yourself, it will pay off. Create a business plan, check your competitors, know your market and the use of resources that are available to you, as Small Business BC "

-. Mark Halyk of Catered Arts Boutique Catering

"They never give up. Every day a new challenge, and it can be a mad, but you will in the next challenge, and this time make, you will find that more intelligent challenge always himself and the boundaries of your business, because without that you will not see growth, and without growth, it feels like you suffocate "

. -. Heather O'Brien and Dave Dove of screening Goods & Apparel Company Ltd

To learn more about how to start in business from these and other inspiring entrepreneurs and thrive, you come with us on Friday, October 1 for Small Business BC first INSPIRE the freshest business exhibition of 2010 .

This dynamic event is Small Business Month with an exciting afternoon of activities, exhibitions and educational prelude to your juices flowing to inspire fresh ideas for your business or new business ideas!

This is a perfect opportunity to network with colleagues and learn from industry experts about effective branding and marketing, and your image and perfecting business with advice from the public space and image consultants.

See you there!

10 Tips for What a Lender addiction in a Business Plan -

Are you willing to let your inspiring business vision into reality? Once you have the opportunity to spot that you simply can not miss, there is calculated steps to turn your vision into reality, and to find the financing, is usually at the top of the list. Whether you have $ 5,000 $ 50,000 or $ 500,000 loan, the tips are given in this article, find out what looks like a lender in a business plan.

Tip 1: Third Party Review

Before you start for a lender looking for, you need to write a business plan, and you need to have it checked by a financial advisor or a mentor, as Small Business BC. As an independent third party, they will give you focus on areas that will help most to lenders. Warning: this may not areas you is most interested in! As an entrepreneur, you probably have a high tolerance for risk. But most lenders are the opposite. You love numbers, numbers and concrete research, which show the viability of the company.

Tip 2: Be clear about what you sell

Your marketing plan needs to show the lender that you also are aware what you are selling, which is to buy it going and why and how you are going to reach these customers. Explain what you want to sell in plain English. This may seem obvious, but many plans allow lenders to guess what the product or service is sold, or why anyone would buy it.

Tip 3: Explain about the 'Who'

Tell the lender about the "who": Who will be your customers how much they will spend, and why of buy are. Tell the lenders who are your suppliers, and if you signed contracts or letters of intent to purchase. who are your main competitors? what makes your business different or better than theirs? Present your potential lenders with a fresh on a tired industry, and you will get their attention

Tip 4:. know your industry

convince the lender that you really know your industry, you have to prove that there is a demand. is for your product or service, so be sure to show that you have researched and understand the key trends in your industry

Tip 5:. know how much money you need

this may seem obvious, but knowing how much compared to what you need, how much you want; there is a difference. And for what purpose?

For example, buy equipment or manage cash flow? Tell the lender how you plan to repay the loan. You need to show how to generate enough revenue you plan to cover operating costs and repay the lender.

Tip 6: Your assumptions identify

to the assumptions, all is in your business plan to identify clear. The assumptions are the details of your start-up costs, such as how much you will invest in marketing, or how much inventory you need to have on hand. Some may include estimates, but you must prove that you have all thought about the little details.

Tip 7: Show your plant

Lenders want to see that you have enough confidence in your success risking your own money before they will risk their members or shareholder money. And most lenders want your investment (or equity) of at least 10%, to see what you have in your financial projections

Tip. 8: Cash Flow, Cash Flow, Cash Flow

about 0% of the reduced loan applications are rejected because the cash flow projections do not convince the lender believes that the business enough to repay the loan. Lenders need to see that your assumptions are supported by concrete evidence from industry, your own past sales or even sales your competition if you can get those.

So why is the tip of "cash flow, cash flow, cash flow"? Since the lender does not want to see one, not two, but three cash flow scenarios: a conservative sales, one with realistic revenue and an aggressive projections.

Tip 9: your team skills Demonstrate

When a lender looks at the operational plan for your business, he or she may want to see evidence that the management team will be able, a success leading and profitable business. Who runs the show? Your operational plan is to name all about names. Tell the lender, which will do in your business, and what are their qualifications and track records.

Tip 10: disaster planning

Enter what I would call your worst, or, "Disaster Planning". It may sound strange, but you have the lender to tell you how you're going to avoid the risk that nobody your product or service to buy. A lender needs an emergency plan to see how you repay the loan when your revenue expectations would not fulfill, or if your costs are higher than expected. A well-developed and thoughtful business plan shows that you have thought through various scenarios and changing circumstances that give the lender considerable confidence in your company.

After all of these tips to digest, you should last (and most important) Tip: Quite simply, the most effective business plans are that convey that you want to earn some money and have a good time while do what you love.

A voice in the corn field -

you have the seen throughout the film field of dreams, is not it? Kevin Costner, James Earl Jones? Baseball in the middle of an Iowa cornfield? I will do so, have not fully understood all of the diverse themes of the film; I was maybe thirteen, when I saw it. But the iconic line: "If you build it, they will come," hit me like a flyball to left field (I almost know nothing about baseball is it obvious.?) As I contemplated my part-time business to a Full-transition-time career.

I'm really good at it, to find the holes in a plan. For this reason, I am the person you love to hate in a committee. I am pragmatic and practical to a fault. But sometimes, I let myself dream. And one day I realized that my dream was to finish my job and work from home full time. Immediately, I took all possible flaws in this plan. Why would anyone hire me? I'm no expert, I do not have much experience, and there are people who are better in this way than I could ever be hope. I will not make any money, my business will fail, and the earth will certainly stop rotates about its axis.

If you build it ...

But when I closed my eyes and let me dream, I was Ray Kinsella, standing in the cornfield and heard the voice: "If you build it, they will come. "Perhaps the best way to start a business is to start a business, and see what happens next.

that was a pretty solid business plan at the time for me. I would not recommend it for all. I had very little effort, because everything I needed my computer was, and the software that I use already. I had set up a small home office. I had to get the ball rolling a solid customer. In the worst case, I would not earn enough money and some part-time work would resume. I was not able to lose capital.

So I decided to build a baseball diamond and to see if playing someone emerged ball.

focus on the first 12km

The distance between point A and point B can often seem overwhelming, if A is a part ~~ POS = TRUNC hobby is Art Business, and B a financially sustainable full-time career. While it is always important to have a sense of the big picture, it is equally important to wake up every day and put one foot before the other. A friend of mine recently completed a grueling 250km Marathon by the Moroccan dessert. He admitted fully that if at the beginning of the race, he thought about every 250 km, he would have turned to home and join. Instead, he stood at the starting line and focused on the fact that the first service station was only 12 kilometers away. And he knew he could run 12 km away.

My suggestion your business part-time to full-time for the transition, or a business to start from square one, for that matter, on the first 12km to concentrate. Do what you can today, and then do what you can today. When a call or an email all you can manage, then do it. Do one thing every day or every week that you to your destination one step closer to be a full-time small business owner.

making room in the range

While I was working elsewhere in part-time and my business is transferred in full-time, a colleague to check something. He said: "As long as you work part time, your business will always be only part-time." Think about it. There are only so many hours a day, just so much energy that you can commit to a specific project. Sometimes you have to plow under the corn harvest to make room for a baseball diamond.

I decided 100% of my energy to commit my business. With the large image on the back of my mind, I completed a small task at a time. I quit the job of a steady paycheck had made some difficult financial months available, and then one day I found myself in an Iowa cornfield nod to Shoeless Joe Jackson in the proverbial baseball diamond, watching has become my dream a reality. I built it. And they came.

What is the voice in the corn field, you say?

Growing Your Business Smarter (not greater) - [1945009WennSieeinGeschäft] own, and you need to increase your income, you could draw expansion as a growth strategy into consideration. It seems logical - to replicate your business model in a new market, and should multiply your winnings

Unfortunately there is not always work .. You may not be be aware of what your business really causes less money to do as you wish, and can easily expand your business, in fact, aggravate these problems.

Confused? Concerned? Do not be. Instead, an analysis done to see whether alternative types of growth positive could impact your profits.

1. Analyze your expenses

Suppose you sell cookies for a dollar. It costs you make twenty cents on each cookie. So your gross margin is eighty cents a cookie or 80%. Sounds pretty good, right? This is where many entrepreneurs to stop to analyze their costs - they fail to determine how many cookies they need every month to sell to cover all their overheads (rent, staff, insurance and more). If there are only a few dollars left over after all of these costs are paid, it's really worth getting financing for a new location to double a profit, however small

And on the subject of costs - to ensure that the understand the difference between COGS (cost of Goods Sold) and overhead, and keep those two categories in your documents to separate. Unless you're now trying to grow your business, this practice of implementation will save a lot of work when you are ready to grow.

Once you have a better understanding of your costs, you should consider "to improve the options for your business bottom line.

2. Consider new price

you may be able to grow your business without funding, by simply increasing the prices. During this action in a few lost customers, could help compensate for a price increase in the well-differentiated product or service for a smaller customer base lead.

you can even hardly that a price increase to find out are relieved every company drives at all clear. when people love what you offer, they are probably willing to pay a bit more for it, especially if this support change with marketing activities.

If you have a service business, you could advertise your services repackaging or your hourly rate to grow increasing sales. Normally there are no direct costs associated with these changes, the implementation - it just takes time and careful consideration

3 .. Add More Products

While it may be some investment in the development or the stocktaking is necessary to grow your business through new products add possibly more cost effective than adding a new location or expand into new markets. to take to our previous example, you might consider selling coffee with cookies to go, or may branch into catering or giveaways. Each of these new services, customers can convince to spend a little more money if they visit your business.

Whatever you growth strategy decide the math and make sure that you know that it can generate enough of a return to justify the cost of your business expansion.

What opportunities do you consider your company for growing?

Bring the exhibition experience at home or in the office -

of college fairs industry conferences, the "virtual trade fair" format obsolete.

as opposed to the real world version, you will not come home from a virtual exhibition with another bag full of brochures and free pens. In fact, you do not even need to have to visit your home or office. A virtual exhibition takes place entirely online, allowing participants to and participate be logged, wherever in the world they are located.

The virtual trade show format provides clear cost savings and convenience for everyone involved. Fair hosts save on the cost of the conference room for rent - which can also reduce costs for the exhibitors - and visitors and exhibitors alike thus save related travel expenses

Just like traditional fairs, virtual trade shows usually include live chats, exhibitors. Space and seminars. And because the participants to explore the virtual exhibition space on their own terms, there is less pressure, occur immediately with the exhibitors and more time interacting to evaluate their materials before a call initiate, which ultimately leads to more qualified prospects ,

What's more, a virtual learning content and exhibitors Exhibition materials often go to the participants for a particular period of time after the event concludes, so that those who easily later can not participate in real-time follow- up access to the content.

Suppose the TRADE START Virtual Tradeshow

Would you like to give a virtual fair a try?

Small Business BC the TRADE START Export-Import Virtual Tradeshow on April 18 hosts, 2013 When you think of an importing or exporting company set up to, or considering your business to new markets by expanding trade, this is your chance with BC best trading experts and attend training seminars to link everything online.

Visit to register the Export-Import Virtual Tradeshow page for more information on how to this free event.

Five ways to discover additional value in your business -

, the value created by the search for a way to their assessment of risks, the potential of the evaluation and use it. Traditional markets typically assess a company's value based on its scalability and replicability - but times have changed! Markets and consumers are now looking to find ways to lower the value in the economy. This value may exist in your company, not the size or scale roll

As an entrepreneur you are already creating direct value from operating your business. Financial value of goods or services that you offer and value of the jobs you. In our local economy

But what value you bring to your community who create on the direct value that you try to build your product or service? Let us look for ways to uncover additional value that you create as an entrepreneur.

1. Social Value

Social values ​​such as diversity and preservation of jobs are not seen as a crime trends in the economy, but now seen as a way to tell your customers why your business decisions makes it does. Research shows that people engage more with a brand or a company if it does something good for society.

2. Environmental value

environmental performance of a company directly affects the financial performance. An environmental program that is integrated into the core of your business may affect the profitability by reducing waste, improving the improving relations with your suppliers and consumers, employee productivity and morale, and new product or service opportunities to identify.

. 3 Community value

Connect with and support the community in which you live and work. Take the time to form relationships with members of the community - these are the moments when forming relationships and is slightly larger, lead, even if it is not obvious in this encounter. Remember, successful for the company to lead the communities in which they have to work to flourish.

4. Measure and track your success

Your company can show your customers that you equate success of the company with social, environmental and community progress. The best way to show this is the same through transparent metrics and reporting on.

5. Tell stories of your value

Storytelling is really the strongest and proposal way to the value of the communication that you offer to your customers and the benefits that have come as a result.

Consider this last (and perhaps most important) way to uncover the value in your business: you , as an entrepreneur, have the ability to do what is in your power to to find value in what you do, not the size or scale role. As long as you have your vision to do to honor what you love in an honest way, to follow the price!

Vision. Focus. Results. -

vision. Focus. Results. This has always been my mantra in business. For small business, this mantra is even more critical.

As an entrepreneur, you probably at 3:00 am awake screw with a new and brilliant killer idea. Solutions to problems and new ideas to me flood in the middle of the night, while standing in the shower, when I. On the grass mowing It's crazy!

Here's the thing though is chasing an ever-changing game plan is the surest recipe for business disaster and financial ruin. I call it; , "Chasing shiny objects" A friend of mine simply says; "Squirrel!" If I followed every new and brilliant killer idea that I come up with, I would change my business every day!

As an entrepreneur, manager or leader, you must have a clear and compelling picture of where you are going. If you do not, no one will know in which direction you are heading in - be confused employees and customers to be. This is vision and when it is clear, both employees and customers know who you are and what you do. It says unmistakably everyone what looks good.

Next, and this is the hardest part, focus. We are surrounded by chaos, confusion and complexity. Everyone is full of advice. The noise is overwhelming! Then we start with the second self. Indecision sets in. Begin to think that you are wrong and maybe you should change the plan. Squirrel!

If you have a clear and compelling vision, you stay the course. Run on a short and simple list of the most important strategies to move closer to your vision. Be relentless in your pursuit of your plan to execute. Everything else is a shiny object that chews your time and energy.

know exactly what you are doing, which is better than any other competitor. Focus intensely on it. Your customers will reward you with their loyalty.

Finally ... results. There will be times when you do not see the fruits of your labor. Stay the course the vision and focus. If you and your team are aligned and "rowing in the same direction", the results will come. We live in crazy times, where competition come from all corners of the world with us. Customers are looking for products and services that they can trust because of this madness. If you are focused, a magical emotional attachment will start with the customer to make because of the consistency that you provide.

vision. Focus. Results.

Avoid Business Failure by improving cash flow -

Why is cash flow so important for a company? A simple answer to this question is that without proper cash management, no business can survive. Improper Cash Management module with creditors cause problems and ultimately to bankruptcy.

It is important that you understand cash flow, because it allows you to make wise investments and protect the growth of your company. Cash flow management is all about the money comes in weighing and go out of your business. Proper cash management allows you less dependent on foreign financing.

8 Cash Flow Strategies for Your Company

, you can implement some of the following strategies to improve the cash flow of your business:

1. Regular cash flow forecasting. It is important to regularly for at least three to six months cash flow to avoid projected deficits. Poor cash flow management could lead to business failure. A good starting point for your deposits projecting is your sales forecast. To do this, you must closely, operation to work with your sales, production and marketing teams.

2. Billing Immediately. One reason that small businesses can be a liquidity shortage is that they give no bills fast enough when a job is finished. Simply put, if you do not do in a reasonable time, then you will not be paid. Delayed settlement is because most small business owners lead the majority of business tasks themselves, as a result, they do not have enough time to do once their books. However, you must remember if you wait two to three weeks to issue an invoice, then it will take three to four weeks until the money arrives. Consequently, it will put pressure on the cash flow. To help with this problem, there are many free online accounting software programs available as Wave Accounting and FreshBooks. This cloud-based accounting software programs that offer free and paid versions, and provide easy access to invoices prepare from anywhere at any time.

3. Receivable Collection. To the collection of receivables to accelerate, companies can offer discounts to customers; This 2 percent or net 30 to encourage customers to pay their bills quickly. Other strategies are customer a fixed payment schedule and accept various payment methods such as PayPal, Interac e-Transfer, EFT and checks has to offer. For large orders, it is a good idea for a 50 percent down payment in advance to ask for material in order to pay the job and rely less on credit lines or other financing options in connection.
If you work with larger companies to learn about their payment cycle. Find the last day forever an invoice approved and included in the payment run. Check. The liabilities department a few days in advance to ensure that they have all the necessary papers from you, they need

4. Managing Inventory. too much inventory do not invest without understanding supply and demand .. Prioritize your inventory needs and care it is to control the cash flow gap is effective critical. Inventory turnover ratio can be calculated on a regular basis to analyze a trend, to determine which elements are for a long time sitting on the shelves and obsolete. Once you determine which product is more in demand, you will be able to compensate needs with costs, by carrying only as much as you need of a certain product.

5. vendor. benefit payment terms offered by your suppliers. If the supplier offers you a discount, calculate the opportunity cost to see if the savings make sense. For example, you compare pay the line of credit it with interest, if you use it to pay the bill or another investment opportunity. A proper cash flow forecasting system will help you to solve this dilemma.

6. Fixed costs and variable costs. Share your expenses into fixed and variable cost categories, this will help to prioritize your cash flow. Then check your variable costs, to see what effect reduce or eliminate it will have. Ask yourself - is this hurt or help my cash flow and overall business

7. Purchase vs. Lease. If you need to buy major equipment, a financial analysis to see whether you should buy it or lease and how each option will affect the cash flow.

8. use of technology. A dashboard reporting system is a powerful tool to search all your important key performance indicators (KPIs) on one side. You can accept cash flow forecasts in Dashboard Reporting, which can serve as an early warning system determine shortfall.

Cash is King

The premise of the popular phrase "cash is king" that money you bring in a position to better purchasing power. But while cash is critical to the hand, your cash flow is an ongoing ability to generate and use cash. It is one of the most valuable measures of strength, profitability and the long-term prospects for your business.

Business Trends for 2015 -

work in small business BC, I experience the business of the province trends firsthand. I am a passionate convinced that information is power, and there is nothing to know more than the market for your business.

small business owners to help ring in the New Year and are looking for new opportunities, here are my top 10 most popular business ideas for 2015:

1. social media coaching
[1945012PersonalTrainer]
2. Homecare connected for the elderly
3. massage therapy
4. restoration company
5. Interior design
6. Immigration Consulting
7. Pet services as doggy daycare and care services
8. tour
9. beauty parlors

According to Statistics Canada 80 percent of small businesses in British Columbia are service-based - to 10 percent from 13 years ago. to hold in this province trend, these companies dominate the type of entrepreneur that we help here at Small Business BC begin.

Personal Services

Specialized personal services are constantly growing. Personal Shopping, Dining, stress management, time management, life coaching, personal trainer, personal planner, pregnancy coach, consultant and personal concierges, are -paced all companies that the meet the needs of fast Lifestyles of BC and the willingness to pay for the people for this kind of service.

Our increased pace of life, less leisure time, higher incomes and a world of increasing choice are all factors that drive the demand for personal services.

By brand loyalty, companies can focus on fewer clients and provide a higher level of service. These companies can benefit from promoting their services through social media channels such as Twitter Facebook LinkedIn and Flickr , the encourages the recommendations of loyal customers.

Baby Boomer Services

The baby boomer generation is a large market for products and services for the next 18 years provides . This group health, mobility and rising average life trends are factors for a growing market. Examples of business types, including serving this group:

• kitchen and catering services
• health, fitness and happiness startups (including vision care, orthotics and treatments for mobility)
• travel travel services
• age reducing products
• energy foods and liquids
• technology coaching for communication and social media tools

Elderly Health services

British Columbians live longer than any other province in Canada with a average age of 83 years . Since 1999, this number has extended for another 3 years .

According to Statistics Canada, which are the fastest growing population group pensioners and grow to continue for the coming decades. There are over 5 million Canadians who are 65+ , a figure that is expected to double in the next 25 years.

business opportunities, serve the elderly of British Columbia can include:

• Chauffeurdienste
• Personal Shopping
• Nursing
• cleaning
• Companionship

Renovations for older , which may also increase their mobility, can be an important opportunity for small businesses to present. ramps extended doors for wheelchairs, automated lifts for stairs, all will be in demand for aging population BC projected.

Online services and products

The popularity of smart phones has opened up the market for application development in the same way the Internet opens website design. Application or app downloads increased from 4.5 million apps in 2010 to more than 102 billion in 2013. . , Apps range from your alertness on long trips Test your phone into a credit card reader to process the conversion payments and more

are other online business opportunities for 2015:

• employment agencies
• online planning sites
• affiliate marketing strategies
• Virtual or augmented reality products

go Social

[have

similar to Facebook or Twitter, Daily Deal websites like Groupon brought, local companies and buyers together based on an electronic social network.

In the early days Groupon deals provided all kinds of local suppliers and buyers. Now that the concept developed, these companies have begun to certain psycho groups such as women buyers, young buyers, Fairtrade and ethical business buyers seek.

other online business opportunities are website design, graphic design, online marketing, social media consulting and content developers.

relate To learn more about the trends of research, the company Related Resources

, enroll in Small Business BC Start Smart for Market Research.

If you have questions about this product, do not hesitate to email me.