One of the youngest and most ambitious entrepreneurs in all of Canada recently sat down with one of the leading news outlets, in order to give advice to those who are thinking of starting their own businesses.
In an interview with the Financial Post, Jason Shotton, who started Locus Designworks, said that early on he had taken advantage of programs offered by nonprofit business organization. Shotton was able to get his business off the ground with $15,000 from the Canadian Youth Business Foundation, along with $5,000 of his own money. Shotton touted the importance of having a solid business plan in order to get lenders to give an entrepreneur some attention.
"The biggest challenge in setting up my business so far has been the business plan. Financiers require specific goals, strategies, and objectives but these are constantly changing when you’re first carving a niche for yourself," said Shotton in an interview with the news source. "Start-ups must simplify their business idea enough to have a unique value proposition that customers understand."
Having a clear and well thought out business plan is key for anyone interested in starting their own company. By laying out the strategies for success, business owners will find success.
