Aboriginal BEST is targeted at all Aboriginal people who are interested and committed towards pursuing self-employment and entrepreneurship as a career option.
Aboriginal BEST includes 12 training sessions and one-on-one business counselling. Below is a summary of all Aboriginal BEST program components:
Training
Aboriginal BEST workshop sessions are designed to help participants identify viable business ideas and determine their feasibility. Participants will also conduct market research, write a business plan, and explore financing options. Aboriginal BEST is a 12-session training series.
Session 1 – Entrepreneurship
- What is an Entrepreneur?
- Characteristics of an Entrepreneur
- Advantages and Disadvantages of Being Self-employed
- Mental Preparation
- Goals From your Business
- Ways to Begin a Business
- Idea vs. Opportunity
- Business Ideas
- What Types of Businesses are Needed in Your Area?
- Business Planning
- What Goes Into a Business Plan and What You Will Learn During Aboriginal BEST
Session 2 – Market Research
- What is Market Research?
- Why is Market Research Important?
- How to do Market Research
- Primary and Secondary Market Research
- Market Research in Aboriginal Communities
- Interpreting your Market Research and Including it in Your Business Plan
Session 3 – Competitors, Competition and Competitive Advantage
- What is Competition and Who is a Competitor?
- How to Get Customers: Competitive Advantage
- Competitor Profile
- Analyzing the Results
Session 4 – Marketing
- What is Marketing?
- Beware of the Three Major Mistakes most New Businesses Make when Marketing
- Creating a Marketing Plan
- Create a Benefit Statement for Your Business
- Decide How Sales will be Made
- Decide How to Reach your Customers with Marketing
- Set a Marketing Budget for Your First Year
- Choose a Variety of Marketing Methods
- Put Your Marketing Mix into a Chart
- General Marketing Tips
Session 5 – Operations: Laws and Insurance
- Legal Structure of your Business
- Location
- Laws and Legal Stuff: Municipal, Provincial and Federal
- Insurance and Risk Management
- Types of Insurance
Session 6 – Operations: Tax, Suppliers, the Hired Help, Production Process and Capability, Professional Advisors, Financial Institutions
- Tax and Aboriginal Business
- GST Registration
- PST Registration
- Suppliers
- The Hired Help: Staff and Contractors
- Production Process and Capability
- Professional Advisors
- Accountant
- Lawyer
- Financial Institutions: Banks and Credit Unions
- Mentors
- Canada Revenue Agency
- Write-offs and Deductions
Session 7 – Funding: Where will you get the Money?
- 5 Major Ways of Funding a Business
- Cash Friendly Sources
- Personal Resources
- Equity
- Debt Financing
- Peer Lending
- What Lenders look for: the 5 “C”s
- How to Check Your Credit Record
- Government-related Lending Programs
Session 8 – Financials: Personal Budget and Net Worth
- Personal Budget
- Personal Net Worth
Session 9 – Costs and Pricing
- Cost of Doing Business
- Fixed Expenses
- Variable Expenses
- Pricing
Session 10 – Financials: Start Up and Cash Flow
- Sources and Uses of Financing
- Start up Expenses
- Cash Flow
- Income Statement
- Balance Sheet
- Break-even Analysis
Session 11 – Technology
- E-Business, The 21st Century Trading Post
- Planning an Internet Strategy
- Internet Marketing Techniques
- How to Choose a Web Designer
Session 12 – Business Plan Executive Summary and Polishing Your Presentation
- Business Plan Executive Summary
- Polishing Your Presentation
- Presenting Your Business Plan and the Art of Storytelling
- Story-telling / Presentation tips
- Presentation Templates
- General Presentation Tips
- For more Information, Help and Assistance in Making Great Presentations
- Useful Web Links