Once you’ve validated your business idea through research and testing, it’s time to build a plan. The more detailed and robust your planning, the higher your chances of securing financial support and ensuring business success. This stage will walk you through key components of building a marketing, operations and financial plan.

Marketing Plan

STP – Segmentation, Targeting and Positioning

How you segment your market, target your niche and position your brand is the foundation of your marketing strategy.

Pricing

There are no hard rules around how to price your product, it’s highly contextual. However, these resources highlight some approaches you can take to ensure your price is right.

Marketing Activities

To ensure a return on your marketing activities, be sure to set clear goals and choose a tactic that addresses your need.

Sales

Having a sales strategy in place before launching your business will help prevent a lot of stress. It helps to think about the sales process as a funnel containing different stages; this way you can consider individual tactics for driving results at each stage.

Website

The impression created by your brand’s web presence is vital from a marketing perspective – it is often the first interaction many stakeholders will have with your business. Though there are many pitfalls to watch out for, the good news is that your website is completely in your control.

Social Media

To gain value from social media marketing one must approach it as one does any other aspect of business, with well-defined goals, resources and a strategy.

Operations Plan

Process

From base material delivery, to production, to shipment and fulfillment, every link in your product’s supply chain requires careful planning and monitoring. The following resources highlight some key considerations. Be sure to review the section “What are the operational requirements for starting my business” in the Explore Bucket.

Customer Relations Management

CRM technologies are no longer only for big business, many low-cost options exist for start-ups too. Regardless of which tools you use, managing your customer relations data should be a key operational focus.

Team & Culture

The people that work on and in your business, simply put, make your business. Be sure to review the below resources to attract and retain the best people for your team.

Financial Planning

Credit Worthiness

Without good credit you are unlikely to receive character-based loans, a vital funding source for start-ups. Review this section to understand how to stay on top of your credit score.

Where to find funders?

There are countless avenues you can pursue to seek funding, the trick is to know what each type of funder is looking for. See also: Regional Resources for province-specific funders.

What is cash flow and how to build cash flow assumptions?

Cash flow is how money enters and leaves your business. A cash flow projection, therefore, is a budget for your business. The following resources will help you understand how to make cash flow projections for your start-up.

Financial Planning Templates

Use these templates to help you document your startup’s financial planning.

Creating the Business Plan

Once you’ve mapped how your business will tackle its marketing, operational and financial needs, it’s time to bring it all together as a business plan. Our Business Plan Writer is an interactive tool that guides you through each section you will need to include. You can also reference our list of business plan examples, offering examples from different industries.

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Business Plan Writer
Check out our FREE interactive Business Plan Writer packed full of tools and templates to help you create this important document
Business Plan Writer
The Role of the Mentor
Understanding Mentoring at Futurpreneur Canada
Presented by BDC
The Role of the Mentor
Business Plan Essentials
A quick overview of what’s needed
Presented by BMO Financial Group
Business Plan Essentials
Cash Flow Template
Get your numbers in line to apply for start up capital!
Cash Flow Template