1.Clearly define your business idea and be able to succinctly articulate it. Know your mission.
2.Examine your motives. Make sure that you have a passion for owning a business and for this particular business.
3.Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
4.Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business.
5.Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions, and visit your local SCORE office.

So you want – or need – to write a business plan. You might be looking for debt or equity financing, or maybe you need to to develop a blueprint to help you build your business. Either way, a comprehensive business plan is a useful tool that can help you meet your goals.

As we were starting CanadaOne I wrote a business plan for our company that won the 1997/98 National Business Plan Competition for Young Entrepreneur, to which over 500 plans were submitted. Since that time I've done many presentations on the basics of writing a business plan, and I've also written plans for other companies. In this workshop I'll explain the basics of creating a business plan, based on my own experience and input from other professionals who are tasked with writing and reviewing plans on a regular basis.