Business Basics for Innovators

Business Basics for Innovators

Starting a business takes more than a great idea '€“ success hinges on a strong plan of action. The Business Basics For Innovators (BBFI) seminars provide the tools you will need to assess your business concept and planning strategies to give your plan an edge.

During each BBFI module, founding teams work together evaluating their strengths, identifying areas that need focus and creating action plans for moving forward. The emphasis on action planning sets the stage for your company to generate momentum, accelerating your company to the next phase of development.

Each module is delivered in the supportive environment of TEC Edmonton'€™s business incubator. Improved communication skills are a happy bi-product of BBFI: Participants receive feedback from fellow attendees, qualified facilitators and seasoned business experts and entrepreneurs.

Module 1: Business Concept, Customers & Marketing (I) and People and Leadership

Participants learn to articulate the value their companies offer in terms of benefits, rather than just describing the features of their products or services.

Defining what your company delivers relative to competitors is important to stand out and attract the right customers, as is having the right team assembled. Participants explore ideas for finding and leveraging talent via advisors, founding team members and employees.

Module 2: Customers & Marketing (II), The Startup Organization & Money & Milestones

What information is critical to crafting and executing a successful sales plan? Participants find their own answers to this question during Module 2. Also covered: Participants identify and navigate other issues related to their teams'€™ roles and responsibilities and their ability to execute.

How do you measure how well founders are managing their companies? Methods of tracking a company'€™s progress are explored, covering the following: Milestones, key performance indicators and cash flow. In addition, participants are introduced to business valuation methods and sources for financing.


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