Starting a new business can be overwhelming. So, break the project into manageable steps. By assigning a set list of tasks, an action plan increases organization and decreases stress. And we’re hefre to help with creating an action plan that works for your business.
Here’s a list of possible tasks to get you started – remember when creating an action plan to customize this to suit your project.
When creating an action plan, it helps compile a toolkit:
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Task |
Notes |
Outreach
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It’s a good idea to seek feedback on your business idea to gauge interest. Create a survey and check in with potential members. With the results, you can host a meeting to get more feedback. Work towards distilling the discussion to a clear purpose that the business |
Budget Planning
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Strike a Finance Committee to crunch the numbers. Starting with our budgeting tool, begin compiling a list of start-up costs and potential sources of funds. It might be helpful to work with your local Community Futures office to get the data you need. |
Fundraising
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Because the co-op isn’t incorporated yet the committee can’t take out a loan or sell |
Governance Planning
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Strike a 2 to4-person Governance Committee to tackle the tough questions of ownership, authority, and accountability. Work through our Governance resource to identify who the co-op’s members should be and begin putting |
Business Planning
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Rely on the Finance Committee to continue digging into the data. Consider hiring a |
Choose a Name
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Task a committee member to organize a process for naming the co-op. They can check provincial regulations to find out what has to be in the co-op’s name then check in with potential members to get some suggestions. Have the committee vote on their favourite |
Incorporation
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As the governance committee clarifies important organizational details, begin capturing this information in the articles of incorporation. Reserve the name with your government’s corporate registry and begin |
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Take a moment to celebrate the co-op’s incorporation. Hurray! |
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Membership Start-up
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Have the board secretary set up an e-mail account and put together a member registry. Once there’s a system in place for accepting payment for memberships, the co-op can begin selling membership shares. |
Finance Start-up
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Have the finance committee, led by the treasurer, set up a bank account and collect the |
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Need a business plan? Start here. The Biz Plan Creator is an easy-to-use and helpful tool. Designed to guide you through the process, the Biz Plan Creator offers a user-friendly platform and clear advice at every stage. Plus, it includes a secure account and customized branding of your plan. So, you can leave and come back to your plan as needed. And when you’re done, a branded PDF business plan ready for investors and financiers is your reward.