If you were to read a full guidebook on starting your own small business, you’d probably need a few weeks. So we’ve summarized the seven steps to help you start your business faster!
Seven Steps to Help You Start Your Business
CanadaStartups.org is pleased to introduce this quick guide outlining the 7 steps to help you start your business in Canada.
This “how to start your small business” guide is perfect for anyone with a business idea who is ready to put in the work and looking for the right steps to begin.
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As you read the seven steps to help you start your business in Canada, you’ll have exactly what you need to launch successfully.
With the Canadian economy growing, local businesses are taking a greater role in communities—stimulating the economy and creating jobs.
The seven steps include:
- Understanding what you want to do
- Knowing your customer base
- Having a support network
- Making it all official
- Having all of the requirements
- Writing your business plan
- Getting funding!
So let’s get started, shall we?
1. Understanding What You Want to Do
Starting a small business takes a lot of work—you already know that.
One of the most critical steps is understanding what you actually want to do.
Sure, you want to start a business, be an entrepreneur, quit the 9-to-5, make your own hours—who doesn’t? That’s the entrepreneur’s dream.
But before you get there, you must understand a few key things:
- Time
- Being committed and motivated
- Knowing the risks
- Having the skills
- Enjoying what you do
Time
It takes a lot of time to start and run a small business.
Think about how hard you work for someone else just to keep your job—now multiply that effort by 10 (or even 20). That’s what the early stages of entrepreneurship require.
Time is critical. So the question is: do you have the time to invest?
Being Committed and Motivated
Time alone isn’t enough—commitment and motivation matter.
Can you try and fail repeatedly before you finally succeed?
Can you motivate yourself to keep going when things get tough?
Most people quit at the business plan stage. Why? Lack of motivation and commitment.
Knowing the Risks
Starting a business is risky. It takes money, time, and effort.
If you’re not willing to take risks, you won’t get far.
Many people hesitate to invest in their own business—this often signals a lack of belief in themselves.
Understanding the risks upfront helps you make better decisions.
Having the Skills
The most successful entrepreneurs are those who start businesses in fields they know.
If you’ve spent your life as an auto mechanic, it makes sense to open a mechanic shop—not a dance studio.
Skills and experience are valuable assets. Apply what you already know.
Enjoying What You Do
Running a business is stressful and time-consuming.
Enjoying what you do makes everything easier, especially when challenges arise.
Finding a Business That’s Right for You
If you’re ready to start your business but don’t yet have an idea, you’ll need to choose one. Good ideas usually come from:
- Your experience
- Your interests
- Your education
- Identifying unmet market needs
Your background doesn’t restrict you—many skills transfer across industries. Good management skills can be used anywhere.
2. Knowing Your Customer Base
Once you know what you want to do, the next step is understanding your customers.
The more you know about them, the more effective your marketing, sales, and operations will be.
Ask yourself:
- Who are they?
- What do they buy?
- Why do they buy?
- When do they need it?
- How do they purchase?
- How much can they afford?
- What will they expect from you?
You can learn a lot simply by talking to potential customers.
Remember, sales happen when your product or service solves their problem.
3. Having a Support Network
A strong support network is essential.
This includes emotional support from family as well as business-related support such as advice, connections, and guidance.
You can get support from:
- Family and friends
- Colleagues
- Banks
- Lawyers
- Online resources
Even if you’re a sole proprietor, you don’t have to do everything alone.
4. Making It All Official
Depending on your business type, making it official is the next big step.
This includes registering your business as:
- Sole proprietorship
- Partnership
- Provincial or federal corporation
- Charity or nonprofit organization
Your industry and location may require licenses, permits, or additional documentation. Check with your local business office for details.
5. Having All of the Requirements
Your business requirements will depend on the type of business you’re starting.
For example, a cleaning business may requir