Launch your new business, from initial idea to start-up. Discover the seven steps that will make your dream a reality.
1- The idea
- What are your options?
- Where can you find ideas for a business?
- Is your project well defined?
- Is it feasible?
2- The entrepreneur
- Do you have the makings of an entrepreneur?
- Do you have people you can rely on for help?
- Do you need further training?
- Are you able to invest in your project?
3- Market research
- Can you give a detailed description of your product or service?
- Is there sufficient market demand for your product or service?
- To whom will you be selling your product or service?
- Who are your competitors?
- How much of the market share could your company capture?
- What do you need to do before starting your business?
- Will you need permits, licences and registrations?
- Where will you procure the necessary equipment, merchandise and supplies?
- What will your marketing strategy look like?
- Will your company create jobs?
- Will you need financing?
5- The business plan
- Describe your company;
- Introduce your team;
- Conduct a market analysis;
- Present your marketing strategy;
- Identify your human resources needs;
- Determine your financing needs.
For more information, consult our page about financing
- Make sure that you know your business plan and all the benefits of your project inside out;
- Clearly set out your financing needs and your personal financing contribution;
- Establish a time frame for obtaining financing;
- Find out what your financial partner's main requirements are;
- Make sure that your have an alternative plan in case your negotiations don't go as expected.
7- Starting up
- Get the necessary permits and licences;
- Open your bank accounts;
- Create your government accounts (GST, QST, CNESST, etc.);
- Make sure your ideas are put into action and all activities are carried out;
- Set up appropriate accounting and management systems;
- Publicize your launch!