Building A Dream: A Canadian Guide to Starting Your Own Business

Paperback | May 17, 2002

byWalter Good

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Includes perforated worksheets for copying and reusing!

. covers all the stages in planning and launching your own venture. . Don't quit your day job until you've read Building a Dream cover to cover. -- Jay Robb, The Hamilton Spectator

Turning dreams into reality for thousands of Canadian entrepreneurs!

You've been thinking about starting your own business for a long time, but you have so many questions: Is it the right idea? Where will the money come from? Am I cut out to be an entrepreneur? Where do I start?

Divided into stages, Building a Dream takes you step-by-step through constructing a successful business, from concept through to opening your doors. Starting at the beginning, you will:

- Assess your entrepreneurial skills and test the feasibility of your business ideas

- Choose between buying a business, starting a new business or acquiring a franchise

- Conduct a feasibility study to take your concept from the idea stage to the marketplace

- Review the options for organizing your business and protecting your idea, invention or design

- Find the funding to get your enterprise off the groundAND finish with a detailed business plan!

Author Walter Good knows what works. He provides you with all the tools and tips you need and illustrates entrepreneurial success through inspiring and informative profiles of winning Canadian entrepreneurs. This easy-to-use workbook includes:

- Quizzes and questionnaires for self-assessment

- Checklists and inventories to track your progress

- Sample forms and worksheets to help you analyze and forecast

- Web sites to provide more information on topics of interest

- Templates for comprehensive business plans for two business types

- Two real-life business plans

Dreaming provides inspiration. Planning provides results. Working through Building a Dream will help you turn your dreams into a successful business reality.

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From the Publisher

Includes perforated worksheets for copying and reusing!. covers all the stages in planning and launching your own venture. . Don't quit your day job until you've read Building a Dream cover to cover. -- Jay Robb, The Hamilton SpectatorTurning dreams into reality for thousands of Canadian entrepreneurs!You've been thinking about startin...

From the Jacket

... covers all the stages in planning and launching your own venture. ... Don't quit your day job until you've read Building a Dream cover to cover. -- Jay Robb, The Hamilton SpectatorTurning dreams into reality for thousands of Canadian entrepreneurs! You've been thinking about starting your own business for a long time, but you have ...

Dr. Walter Good is the Head of the Marketing Department at the University of Manitoba, and a graduate of the University of Toronto and Michigan State University. His primary interests are strategic market planning, entrepreneurship, and small-business management.

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Format:PaperbackDimensions:10.8 × 8.5 × 1 inPublished:May 17, 2002Publisher:McGraw-Hill EducationLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0070910979

ISBN - 13:9780070910973

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Extra Content

Table of Contents

Preface

Stage One: What Is Entrepreneurship?

What is Entrepreneurship?

The Entrepreneurial Process

Myths and Realities Concerning Entrepreneurship

Stage Two: Assessing Your Potential for an

Entrepreneurial Career

Entrepreneurs Are Born and Made Better

Entrepreneurial Quiz

Personal Self-Assessment

What Kind of Entrepreneur Are You Likely to Be?

Evaluating Your Business Skills

Inventory of Your Managerial and Administrative Skills

Assessing Your Personal Financial Situation

Your Personal Balance Sheet

Developing a Personal Budget

Are You Ready for an Entrepreneurial Career?

External Role Demands

A Final Analysis

Stage Three: Exploring New Business Ideas and Opportunities

Long-Term Expectations for Your Business

Lifestyle Ventures

Small, Profitable Ventures

High-Growth Ventures

Sources of Ideas for a New Business

Your Job

Your Hobbies

Personal Observation

Use Creative Thinking

Areas of Future Opportunity

Some Specific Ideas and Concepts for the Future

Evaluating Your Ideas

Deciding How to Proceed

Buy a Business

Acquire a Franchise

Start a Business of Your Own

Stage Four: Buying a Business

Advantages and Disadvantages of Buying an Existing Business

Reasons for Buying an Existing Business

Disadvantages of Buying an Established Business

How to Find the Right Business to Buy

Important Factors to Consider

Why is the Business for Sale?

Financial Factors

Marketing Considerations

Human Factors

Other Concerns

How to Determine an Appropriate Price to Pay for a Business

Balance Sheet Methods

Income Statement Methods

Rule-of-Thumb Approaches

What to Buy - Assets or Shares?

Financing the Purchase

Checklist for a Business Acquisition

Stage Five: Considering a Franchise

An Introduction to Franchising

What is Franchising?

Advantages of Franchising

Disadvantages of Franchising

Types of Franchises

Franchise Formats

Range of Available Franchises

Canadian Legislation and Disclosure Requirements

The U.S. Situation

The Franchise Agreement

Buying a Franchise

Finding a Franchise Business

Checking Out the Franchise Opportunity

Franchise Financing

Future Trends in Franchising

Evaluating a Franchise - A Checklist

Stage Six: Conducting a Feasibility Study - Part I:

Technical and Market Assessment

Your Venture Concept

Technical Feasibility

Market Assessment

Who Is Your Customer?

Estimating Total Market Size and Trends

Developing a Sales Forecast

Fleshing Out Your Marketing Program

Managing the Supply Situation

Stage Seven: Conducting a Feasibility Study - Part II:

Cost and Profitability Assessment

Determine Your Start-up Financial Requirements

Develop Short-Term Financial Projections

Pro Forma Income Statement

Forecast Your Cash Flow

Developing Your Cash Flow Statement

Pro Forma Balance Sheet

Determine Your Break-even Point

Conduct a Comprehensive Feasibility Study

Stage Eight: Organizing Your Business

Individual or Sole Proprietorship

Advantages of Sole Proprietorship

Disadvantages of Sole Proprietorship

Partnership

General Partnership

Limited Partnership

Corporation

Advantages of a Corporation

Disadvantages of a Corporation

Getting into Business

Registration and Incorporation - Making It Legal

Choosing a Name

Obtaining a Business Licence

Mandatory Deductions and Taxes

Employment Standards

Insurance

Conclusion

Stage Nine: Protecting Your Idea

Applying for a Patent

How to Apply

Protection Provided by Your Patent

Registering Your Trademark

How to Register Your Trademark

Maintaining and Policing Your Trademark

Obtaining Copyright

How to Obtain a Copyright

The Protection Provided by Copyright

Registering Your Industrial Design

Protecting Integrated Circuit Topographies

What Protection Does the Act Provide?

How to Protect an IC Topography

For More Information on Intellectual Property

Conclusion

Stage Ten: Arranging Financing

Debt Financing

Equity Financing

Majored Sources of Funds

Personal Funds

"Love Money"

Banks, Trust Companies, Credit Unions, and Similar

Institutions

Government

Provincial Financial Assistance Programs

Venture Capital

Additional Sources of Financing

Evaluating Your Ability to Secure Financing

Stage Eleven: Preparing Your Business Plan

Business Planning - The "Big Picture"

Why Consider the "Big Picture?"

The Steps in the Business Planning Process

Why Develop a Business Plan?

How Long Should Your Business Plan Be?

Who Should Write Your Business Plan?

How Long Does It Take?

What Should Your Plan Contain?

1. Letter of Transmittal

2. Title Page

3. Table of Contents

4. Executive Summary and Fact Sheet

5. Body of the Plan

6. Appendices

Conclusion

Lifelink Ventures Inc. Business Plan

Alfa-B Pollination Services Business Plan

Further Information

Further Readings

Some Useful Contacts

Helpful Web Sites

Glossary of Financial Terms

Index