Entrepreneurial Spirit - Frequently Asked Questions

 
 
Subscribe to our free E-Newsletter, "Agri-News" (formerly RTW This Week)Agri-News
This Week
 
 
 
 How do I know if I have what it takes to start a business?
Business success or failure depends on you. Researchers and experts suggest that entrepreneurs share a number of common characteristics. You should take the time to evaluate your skills and life style preferences. Don’t forget to involve your entire family in this evaluation, as they are usually involved in the business or affected by your decisions.

I have many new business ideas, how do I decide?
Before you start a business, be sure you have both the needed personal and physical resources. Next, you need to determine the size of the market for your product. A product or service with out a market is doomed. You also need to determine if you actually can make money at this new business. Your answers to these questions will help you determine if you should proceed further with you idea.

What is a business Plan?
A business plan helps you systematically think through the steps involved in you business development. By completing a business plan you will better understand the markets, costs and competitive factors that will influence the future of you business. Think of a business plan as a working document, one that changes, expands and shifts with the times. As well as a planning document for you, a business plan is often needed so as to be able to obtain financial assistance.

Further information can be found on the Alberta Agriculture Food and Rural Development web site www.agric.gov.ab.ca or by calling Alberta Agriculture New Venture Specialist at 310-FARM(3276).

Starting and Growing a Business: Entrepreneurial Assessment
Starting and Growing a Business: Developing Your Business Plan
Personal and Family Considerations
Identifying Alternatives
Profitability

Prepared by Kathy Bosse, Alberta Ag-Info Centre, Alberta Agriculture and Rural Development
 
 
 
 
For more information about the content of this document, contact the Ag-Info Centre.
This information published to the web on April 8, 2004.
Last Reviewed/Revised on April 23, 2008.