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If you’re an entrepreneur, you probably know that getting a different perspective on things is a very important part of the growth process. When it comes to starting a new business, there are certain steps that we here at Venture Kamloops deem to be essential. In our 6 Steps to Starting a Business page, we discuss deciding business structures, developing a business plan, securing financing, registering your business, permitting and licencing and additional requirements. Things that are more particular to each entrepreneur, and less “clear-cut” than our step-by-step process are outlined in a recent article from Small Business BC that discusses “7 Things to Consider Before Starting a Small Business”.

Rather than a technical approach to how to start a business (which by the way is very essential), the article takes a look at tips to consider when starting a business that are more general and should probably be addressed before Venture Kamloops’ 6 Step process. First, one should consider whether they are pursuing their passion or not. If the start-up is something you are passionate about, it is easier to push forward in the difficult beginning stages. Next, similar to what is outlined in the 6-step process from Venture Kamloops, one must be able to craft a business plan. Plain and simple, an effective business plan is one of the most important documents in the early stages of a start-up. If you are unsure of where to begin on a business plan, be sure to check out our template. Contingency plans are also an essential step to consider in the early stages of your venture. The fact is that you would be hard pressed to find a start-up that did not come across any unanticipated problems early on. No matter how prepared you think you are, there are always obstacles that present themselves unannounced!

Time is always an issue for a start-up. As long as you are willing to sacrifice any extra time you have and balance your workload, there is always a way to thrive. It’s amazing how so many people with “no time” can find extra time when it is something they are passionate about! Spreading the word about your product or service is key, but just marketing through traditional techniques is not enough. Networking at events, socials and other functions will not only spread the word about tour business, but put you in contact with important members in your community that could help you down the road. Finally, do not be afraid to step out of your comfort zone. In fact, if you’re new to this, everything you do may be out of your comfort zone. Be prepared to take everything in stride and use all experiences you have, both negative and positive, as a learning opportunity.

For more information on the VK 6 step process, and access to templates and other resources, click HERE.

For access to the full, in depth article posted by Small Business BC, click HERE

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