qprev_HBB Manual 2.qxd - Small Business BC

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ProsConsInternet• Able to reach a broad crosssection of people from all overthe world• Very inexpensive• Responsive can be immediate• No personal interaction to fullyassess or discuss feedback• Not all people who respond areyour potential market• People will not have hands-onexperience with productCompetitors• Observations on traffic counts,average sale checks andcustomer patterns• Observations on any marketaspect, i.e., location,advertising, pricing, etc• Competition in othercommunities willing to talk tosomeone who won’t be a threat• Biased• Unwilling to talk to potentialcompetitor• Travel and long distance costsSuppliers, distributors,agents and brokers• Inside knowledge of industry• Knowledge of players, trendsand quirks• Could favor existing dealers• May get jaded comments withnarrow viewpointRetired from the industry• No axe to grind• Objective and open• Knowledge of industry, its.pitfalls and who succeeds• Information may be dated• May be jaded and tired ofbusiness concerns126solutions for small business home-based business
ProsConsMentor (experiencedbusiness person outside theindustry• Objective• Can analyze situation and bebrutally frank• Can assess your own capacity,resources and managerialability• Can advise on strategy & majordecisions• Lacks specific industryknowledge• Not always available on ano-fee basissolutions for small business home-based business 127
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This document has been developed fo
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List of AppendicesAppendix AList of
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There’s truly no place like home
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People have all sorts of good reaso
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Make an Inventory of ResourcesAvail
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Find Out if You are Permittedto Ope
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2What Will You Sell?Davey Mountainv
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Some work-at-home schemes are legit
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• Cleaner to use• Quieter to ru
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Exploring the merits of several ide
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Buy a Business - Advantages• You
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Get Off to a Good StartA “researc
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Licenses and PermitsOperating any b
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Sole ProprietorshipThis structure i
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Once your business starts to succes
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The four-part framework for a busin
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• Industry future (the view from
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3How Will You ReachBuyers?Fabulous
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This framework stresses that a succ
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uy for them, such as parents for ba
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• What might make you more likely
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Select Methods of Direct SalesPerso
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esearch will help you identify even
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Determine Price StructurePrice is a
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(Variable cost per unit x Volume)+
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with a week to ten days between eac
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service information. Such newslette
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Guarantees spell out what you promi
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Organize Physical SpaceWhy is Locat
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What About Premises and Facilities?
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Basic office equipment list• stap
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People with experience in small bus
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• Travel• Filing Systems• Equ
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help. Two methods of keeping record
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payment (usually a minimum of three
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5Will You Make Money?Custom Busines
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elatives and friends, who as a grou
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interest rates or rental charges fo
Page 83 and 84: Feel and Look ConfidentA lender loo
Page 85 and 86: • Estimates of market share of yo
Page 87 and 88: home-based business. This loss of p
Page 89 and 90: costs of all such benefits appear i
Page 91 and 92: flow. If the flow goes the other wa
Page 93 and 94: NET WORTH: The balancing mechanismb
Page 95 and 96: Personal StylePersonal style is the
Page 97 and 98: Keys to managing these relationship
Page 99 and 100: You may, however, choose to registe
Page 101 and 102: Recruit VolunteersDrawing on the vo
Page 103 and 104: • Strategic alliancesAnother name
Page 105 and 106: Future-gazing can never be accurate
Page 107 and 108: Where to find help with exportingWI
Page 109 and 110: production machinery and transporta
Page 111 and 112: Plan for changeAn “ideal solution
Page 113 and 114: 7ConclusionFirst StepsThe previous
Page 115 and 116: • Do accountants and bookkeepers
Page 117 and 118: Western Economic Diversification:Sm
Page 119 and 120: Marketing: All the things involved
Page 121 and 122: • Canadian Internet Business Dire
Page 123 and 124: Communication CanadaCanadian Govern
Page 125 and 126: Glass blowing and design, retail an
Page 127 and 128: 14. I find unexpected situations st
Page 129 and 130: Stability• Is my home-life financ
Page 131 and 132: Appendix HFiling System CategoriesU
Page 133: Appendix IPrimary Market Research T
Page 137 and 138: Appendix KSample Cash FLow Statemen
Page 139 and 140: Appendix MRegistering a Company Nam
Page 141: solutions for smallbusinessThis pub
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