GoForth Institute Small Business Training

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The components of a business model

Monday, December 18th, 2017

As we discussed in our last post, a business model is a blueprint for the business, outlining how you’re going to run your business, and how you’re going to make money. It’s made up of five elements: Business concept Value chain position Calculating customer value Revenue sources and cost drivers Competitive advantage Let’s take a closer […]

The difference between a business model and a business plan

Saturday, December 9th, 2017

When you’re getting ready to start your small business, you want to create as solid a foundation as you can – and that involves education and planning. You might have heard that you should start with a business plan, or a business model. That’s great! But what are they, exactly, and how are they different […]

How to diversify your rural business – and why you should

Saturday, December 2nd, 2017

Note: This article was originally posted in February 2014. This updated article contains refreshed links and up-to-date information. According to Statistics Canada, 28% of Canada’s small and medium-sized enterprises (SMEs) are rural-based. Running a small business can be challenging at the best of times, but rural entrepreneurs face additional hurdles: Industry changes, technology replacing human labour, and a […]

How to get your small business ready for year-end

Saturday, November 25th, 2017

Note: The last version of this article was posted on December 2016. This updated article contains refreshed links and up-to-date information. Winter can be a slow time for many businesses, especially at the end of the year. Nobody wants to be caught unprepared in the new year. But, by taking this downtime to prepare your business for […]

Why conduct an Achievability Analysis before opening your business?

Saturday, October 28th, 2017

Many first-time entrepreneurs are so excited to start their new business that they want to open their doors right away. This sort of passion and excitement is an admirable and necessary quality for an entrepreneur. However, it’s just as important to subject your ideas to a comprehensive Achievability Analysis to see if it has any […]

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