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Supportive government Entrepreneurship culture Affordable Access to US market Diverse population = opportunities
Why startup in Canada?
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Control your destiny Pursue your passion Earn a lot or a little money Make a difference Be the boss
Benefits of business
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Long hours, stress Financial risk Takes time to get going Responsible for others No guaranteed income
Disadvantages of business
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Personal goals Financial goals What will your business achieve? Who will it serve?
Step 2: Set goals
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3 ways to enter business:1. Buy one 2. Buy franchise3. Start one
Research your idea◦Customers, competition
Decide
Step 3: Research
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Write a Business Plan Calculate Startup Budget
◦Capital costs +◦Operating costs x 6 months
2 years & 10 pages
Step 4: Plan
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1. Professional advisors (banker, lawyer, accountant, coach)
2. Peer advisors (entrepreneurs, mentors, colleagues)
3. Paid help (employees, suppliers, freelancers)
Step 6: Get help
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Spending too much Overestimating revenue Waiting for customers to find you Doing it all yourself Working in your business
Avoid these mistakes
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