Entrepreneurial Spirit - Frequently Asked Questions

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 and Forestry website Bizinfo or by calling Alberta Agriculture New Venture Specialist at 310-FARM(3276).

Entrepreneur Self-Assessment
Elements of a Business Plan
Personal and Family Considerations
Identifying Alternatives
Profitability

Prepared by Alberta Ag-Info Centre, Alberta Agriculture and Forestry

For more information about the content of this document, contact Kathy Bosse.
This document is maintained by Brenda McLellan.
This information published to the web on April 8, 2004.
Last Reviewed/Revised on November 19, 2018.