Helpful Resources When Getting Started In Business | ProductiveandFree

Starting a business can seem daunting, but with the right tools, it doesn’t have to be. Provided you do the research, have a solid plan, and are motivated, you can be a success story.

You’re certainly not alone. According to the latest figures, over 60,000 new businesses were created in Canada during 2024. Impressively, 78.5% of small businesses survived their first year.

The following five helpful resources can help you be one of the successful ones.

1. Business Listings

Most people think of starting a business as starting from scratch. However, it’s often challenging to come up with a new idea. It can be particularly frustrating when you look through business listings and find someone is already doing what you want to do.

That’s why, before you start your business, you should consider purchasing an existing business. Whether you’re interested in Edmonton or Vancouver, Find Businesses 4 Sale has something to offer you.

Taking on an existing business requires the same skills and commitment as starting a new one. The big difference is that you should start seeing a profit sooner.

Business listings will show you what businesses are available. This is useful if you’re looking to buy a business or if you want to see the current level of competition. Knowing what you’re competing against will help you produce a better product or service.

2. Template Designs

Starting and running a new business is time-consuming. You must create and chase leads, record customer details, arrange supplier contracts, and even log and pay invoices. That’s just a fraction of the work involved.

If you don’t get help, you’ll quickly find yourself bogged down in the daily grind. This will prevent you from moving the business forward, which is essential for success.

Fortunately, you can get templates that effectively automate many of these tasks. Whether you’re looking to start and grow an email list or simply want to make invoicing easy, you’ll find a template that can help.

This is an effective way of freeing up your time to focus on driving your business forward.

3. Education/Mentoring

Starting a business doesn’t mean stopping your education. The better your knowledge of business and your industry, the easier it is for you to succeed.

You don’t need to go back to traditional school. However, taking a class at a business school is a great way to improve your entrepreneurial skills. There are courses available in leadership, management, and even problem-solving!

An online course is usually the most flexible option which is beneficial when you’re running your own business.

Alongside this, make sure you maintain the education of any new staff members. This will help them feel valued and provide you with the best possible work ethic.

Where possible, set up a mentoring system where each member of your team helps another to grow in their role.

4. Industry Specific Publications

Running a business means constantly being on top of the latest industry news. You never know when something the government’s change will affect your industry.

By subscribing to and reading all the industry-specific publications, physical and online, you’ll be able to keep your company at the forefront of development. It will also keep your business legal.

It’s not just about legislation. Monitoring industry publications helps you keep your finger on the pulse of the industry. It will help you understand what your competitors are doing and how you can do it better.

5. Finance Firms

All businesses, whether new or well-established, experience cashflow difficulties. This is when you need to turn to finance firms.

New businesses often seek venture capitalists to get their businesses off the ground. Established businesses may need a cash injection when they experience a slowdown or want to expand.

Don’t wait until you need the money to contact finance firms. Speak to them today and cultivate a relationship. When you need them you’ll have already laid the groundwork. That makes the whole process much smoother.

Bonus Tip

One of the biggest issues that business startups face is a lack of willingness to ask for help. It doesn’t have to be financial. A new business owner may be struggling to understand the industry legislation or some other piece of information.

If that’s you, the best thing you can do is ask for help. Other business owners will be happy to advise you. There are also a variety of institutions which can help you navigate the pitfalls of starting a business and come out on top.

Summing Up

Choosing to start your own business is an exciting and scary proposition. It doesn’t have to be. You simply need to prepare yourself and use as many resources as you can to improve your knowledge and managerial style. Your customers and employees will thank you for this. In return, you’re likely to create a thriving business.