Turn Your Passion Into Your Business – Part 2

This is the start of your corporate identity – It’s the starting point for all of your marketing, choosing a name, a logo, etc.

Today we will go over whether you will need to register or incorporate your business & if incorporating we will go through the considerations.

Furthermore, let’s discuss grants and business loans… getting to be fewer!
Making It All Official:
Generally, you will require:

Business Plan (optional, but recommended).
Corporate Identity (your name, what you stand for, your co’s personality)
Logo/Branding – try 99designs.com – inside tip from the pros!
Company Registration or Incorporation papers
Bank Account / Company Cheques (which you will get with the above).
Internet Domain – www.YourCompany.com (or .ca).
Corporate Website / emails of SOME SORT – it’s really important!
Corporate Stationery – Letterhead/email signature/brochures…
PayPal Account is GREAT for accepting online payments.

Your Corporate Identity
You probably already have a really good idea about WHAT KIND OF COMPANY you want to create.

It may be dedicated primarily to CUSTOMER VALUE (like WalMart) or to THE ENVIRONMENT (lots of companies popping up with “sustainability” in the mission statement) – what is YOUR company’s identity?

What are your products & services?
What is the story behind your brand?
What is your mission statement?
What are your Corporate Values?
What is your Company Philosophy?
What do you offer your customers?
Who are your customers?
What is the “tone” of your brand?

Here is a GREAT online questionnaire to help you define your corporate identity: 
Your Company Name
What’s in a name?  According to Shakespeare, it’s not that important, but in business, there are some important considerations!

You need one unique element in your name (rose / alligator / diamond […]

Turn Your Passion Into Your Business – Part 1a

Follow Your Dream & Get Started Today!

Not everybody is able to “quit their day job”, however, with very little startup cost, some enthusiasm & work, at least you can make a gratifying sideline out of the activity that you LOVE.

I am not an MBA!
I’ve done all kinds of jobs from selling encyclopedias to making coupon books, yet I always enjoyed computers, the Internet, and website development – finally a few years ago, I started doing that full-time!

How It All Started
I came up with the idea for this course once I started my own business When I started out, my prices were SUPER LOW, so that I could build myself a portfolio, and I found that a lot of the customers who came in at this low price point were HOBBYISTS!

They were looking to invest a small amount of money into turning their own hobby into a business, and what really amazed me was their passion, dedication, expertise on their particular subject. Some of these hobbies are Reiki healing, handmade jewelry, MMA, and – believe it or not “EXTREME Pumpkin Carving”

Almost ANY Hobby Will Work

You can turn pretty much ANY hobby into a business! I wanted to share with you a funny story – I was talking about my upcoming course with a friend and saying how you can turn ANY hobby into a business… then I qualified it and said: “…Well, maybe not if your hobby is WATCHING TV…”

OK, guess what: even WATCHING TV can be monetized!

Many years ago, I personally met a person who was a huge fan of the TV show “Survivor”. He started a fan / gossip site all by himself and made […]

Turn Your Passion Into Your Business – Part 1b

Reasons for writing a business plan include:

Support a loan application
Raise equity funding
Define and fix objectives and programs to achieve those objectives
Create regular business review and course correction
Define a new business
Define agreements between partners
Set a value on a business for sale or legal purposes
Evaluate a new product line, promotion, or expansion

Do You Need One?
If you are not going for funding, you won’t necessarily be asked for one; HOWEVER, you are well-advised to either write one yourself
or have a professional help you, because having a properly-written business plan will help you launch your business, know what to
bear in mind, and provide a road map to success:

If you are launching your business on your own budget – and it can be a shoestring – you don’t need to do a formal business plan.
You should definitely look at all the elements though, because it makes you sit down and define your company, your target markets, your objectives, your competition, and your niche, among other things

Generally, business plans include:

Executive Summary–features the highlights of your plan and sells your idea in two pages or less. – Your “elevator pitch”
Company Summary–a factual description of your company, ownership, and history.
Products (or Services or both)–describes your products and/or services and how they stand out from competitive
products and services.
Market Analysis-provides a summary of your typical customers, competitive landscape, market size, and expected
market growth.
Strategy and Implementation-describes how you will sell your product, how you will put your plan into action, and
establishes milestones.
Management Summary-provides background on the management team, their experiences, and key accomplishments.
Financial Plan-contains key financials including sales, cash flow, and profits.

Just click here or call (604) 757-1969  if you would like to discuss your […]