Business Plan

  Marketing Plan

  Cash Flow Forecasts

  Cash Flow Management

  The Right Financing

  Strong Support Team

  Business/Personal Balance

Contents

Your business plan – not just for starters

  A blueprint   Which guides you   And is continually updated

  Address unexpected challenges   Entertain new opportunities   Ward off competitors

  Your customers   Your market   Competitive landscape   Potential opportunities and obstacles

A road map to success

  Evaluate your progress   Update your practices

  Unique and distinctive   Strengths   Weaknesses

  Competitive landscape   New opportunities   New threats

Your company

Your industry

A road map to success

  Goals   How to achieve them   Risks

  Realistic   Aligned   Optimized

  Reduce costs   Save time   Maintain optimum inventory   Suppliers   Staff

Your business strategy

Your finances

Your management and operations

A plan to generate revenue

  Emerging trends   Assess your competition   Leverage your network

Research your market

Define your brand

Understand your products and services

A plan to generate revenue

  From your home   Online or over the telephone   Storefront   Retailer   Wholesaler   Agent

Identify and target your customers   Old/young   Male/female   Urban/rural   www.statcan.gc.ca

Choose your distribution channel

A plan to generate revenue

Communication tactics

•  Letters •  Brochures •  Flyers •  Samples •  Coupons

•  Television •  Radio •  Print •  Business directories •  Sponsorship

  Traditional advertising

  Direct mail

A plan to generate revenue

Word-of-mouth

Communication tactics continued

•  Banner ads •  Email •  Websites •  Google/Paid Search •  Social media

Set goals

Fine-tune

  Online Advertising

Cash flow forecasting

  Match customer and supplier terms

  Ask for deposits on big sales

  Make daily bank deposits

  Keep an eye on inventory levels

  Keep cash flow in mind when setting prices

Prevent cash flow crises

Cash flow forecasting

Prevent cash flow crises

  Consider a line of credit or overdraft protection

  Keep an eye on overdue accounts

  Use faster, more secure payment options

Cash flow forecasting

Prevent cash flow crises

•  Single sign-in access •  Easy money movement •  Payment tracking •  One-stop recording, paying and reconciling •  Download data into accounting programs •  Protect yourself from fraud •  Archive and view statements

Simple banking tools for effective cash flow management

  Save time and effort with online banking

Cash flow forecasting

Prevent cash flow crises

  Get more from your cards

  Reduce service fees

  Ready access to cash

  Overdraft protection

Getting the right financing

  Business overdraft protection   Manage cash fluctuations   Keeps payroll and payments on track   Prevents missed payments

Short-term financing

  Business line of credit   Covers gaps   Provides immediate access to funds

Getting the right financing

  Canada Small Business Financing Loan   For major purchases/expansion   85% government guaranteed

Long-term financing

  Term loan/leasing   For “big-ticket” items   Terms of 1 to 5 years

  Leasing   Option to update at lease end   Potential tax benefits

Build a strong support team

  Accountant   Lawyer   Banker

Starting out

  Industry professionals   Suppliers   Customers

  Industry associations   Networking events

Balancing business and personal

  Incorporated business •  Income is separate •  Business earns revenue, incurs losses, pays corporate taxes

Business structure

  Sole proprietorship/partnership •  Personally responsible for debts and liabilities •  Earnings taxed as personal income

Balancing business and personal

  Diversify outside the corporation   Don’t neglect personal investments

Personal taxes

  RRSP contributions   Dividend tax credits

Business taxes

  Tax benefits   Salary/dividend mix   Retention of profits

Investment planning

Everyone’s situation is different

Disclosures:

  The strategies, advice and technical content in this presentation are provided for the general guidance only and benefit of our clients. This presentation is not intended to provide specific financial, investment, tax, legal, accounting or other advice for you, and should not be relied upon in that regard. Readers should consult their own professional advisor when planning to implement a strategy to ensure that individual circumstances have been considered properly and it is based on the latest available information.

  Investment Advice is provided by Royal Mutual Funds Inc. Royal Mutual Funds Inc., RBC Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada, The Royal Trust Company and Phillips, Hager & North Investment Management Ltd. are separate corporate entities which are affiliated. Royal Mutual Funds Inc. is licensed as a financial services firm in the province of Quebec.

® Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.

™ Trademark of Royal Bank of Canada.

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