October 2013 Entrepreneur E-News: Main Reasons Why a Business Plan Fails
E-NEWS: OCTOBER 2013
Worrying About Sales and Build Relationships
Article Written By: Tukan Das
When was the last time you saw a billboard, TV or a print
ad and said to yourself, "Wow that brand really cares about me and
I am going to buy that product?" Let me guess: Never. What is
stopping brands from reaching out to consumers personally and actually
helping them out?
Most big corporations are generally risk-averse and like
to play it safe, when it comes to engaging with customers in public.
Giant billboards, TV/radio ads or print ads on newspapers/magazines are
all safe ways to market to people. It does not involve any direct
interaction with customers and hence very little chance of a negative
reaction, but the problem is consumers of 2013 are all blinded by
traditional ads. Revenue from traditional advertisement channels are at
an all time low.
It's important to not only look at social media as a
channel to get your message out there but also as a way to truly build
meaningful relationships with potential and existing customers. Here
are two ways that your company can make the most of your social media
Featured Event: 2013 Toronto Entrepreneurs Symposium
In the News:
More Canadian Entrepreneurs Turning to Crowdfunding
hasn't been an easy ride for April Defalco and Stacey Bebbington since
opening their kid-friendly cafe in 2010. Six months after launching, La
Tasse Gamine suffered flooding damage from a broken water main in front
of their shop. They were forced to close for six weeks of repairs.
Then, last summer, after the business above their own was the target of
an arson attack, the cafe was once again forced to shut its doors. The
renovations -- and some insurance wrangling --took eight months. READ MORE
Entrepreneurs an "Untapped Resource"
number of female entrepreneurs is growing slowly in Canada, but still
accounts for just a small proportion of all small-business owners and
remains an “untapped resource.” A new study by Royal Bank of Canada
economist Laura Cooper shows women were majority owners of only 15.6
per cent of all small and medium-sized businesses in Canada as of 2011,
an increase from 14.9 per cent in 2007 and 13.7 per cent in 2004. READ MORE
Featured Company: TorontoJobs.ca
Featured Event: 2014 Toronto Entrepreneurs Conference
Article: Main Reasons Why a Business Plan Fails
Article Written By: Tracey Fieber
a business plan is an important part of starting a new company that you
cannot afford to skip. Regretfully though, simply having an established
plan is not enough to guarantee success. Here are seven different areas
that your business plan may be lacking in, and why those mistakes could
be very costly to your company:
Diving into a new marketplace is a challenging endeavor.
Doing so without the proper amount of research is suicidal. Make sure
that you thoroughly understand your field before investing in your new
You may have constructed a pretty comprehensive business plan outlining
your business idea, but no specific goals or ways to achieve them. This
can leave you spinning your wheels but not going anywhere.