In this video, we explore the different ways you can create a business plan for your business in Canada.
From doing it yourself to hiring professionals or using tools, there are multiple options available depending on your time, budget, and experience.
This video is part of the small business video series, where you can learn more about starting up, building a business plan, and finding funding.
Options to Create a Business Plan
There are several ways to create your business plan:
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Write it from scratch
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Edit an existing sample
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Use a template
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Hire a professional writer
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Use a business plan tool
Writing It Yourself
Pros:
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Full control over your idea
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Authentic representation
Cons:
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Time-consuming
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Requires strong writing skills
Editing a Sample Plan
Pros:
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Faster starting point
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Includes structure
Cons:
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May unintentionally shape your idea
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Less originality
Using a Template
Pros:
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Easy to follow
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Structured format
Cons:
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Can feel generic
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Requires customization
Hiring a Professional
Pros:
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High-quality, polished result
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Saves time
Cons:
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Costs $1,500–$5,000+
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Takes 6–8 weeks
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Risk of unreliable providers
Using Business Plan Tools
Pros:
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Affordable
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Step-by-step guidance
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Combines templates, structure, and expert insights
Paying for a Business Plan
Some entrepreneurs avoid paying for help—but this can be a mistake.
Benefits of Paying:
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Saves time
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Professional quality
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Allows focus on business operations
Downsides:
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High cost
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Time to complete
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Potential risks with providers
Our Recommended Approach
Step 1: Draft Your Ideas
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Use bullet points
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Write freely
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Capture all thoughts
Step 2: Use a Tool
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Organize your ideas
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Structure your plan
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Get expert guidance
Step 3: Refine or Rewrite
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Proofread
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Add detail
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Optionally hire a professional
Final Thoughts
No matter the method, creating a business plan is essential.
The best approach is to:
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Start with your ideas
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Use tools to structure them
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Refine into a professional plan
This ensures you have a strong foundation to grow your business and secure funding.