CIBC TIPS: FROM THE GROUND UP

KEYS TO SUCCESS

1. Set goals

A business needs a road map to success.

Set clear, measurable short and long-term goals based on your company’s vision, and ensure your business has the structure and resources to support your goal. Monitor and track your progress, and adjust as required.

2. Know your audience

Customers are the forefront of a business’s success.

What are your customers’ needs and is your company’s vision aligned with them? Look at your products and your delivery and distribution channels. Identify reasons why your customers choose your business over your competitors.

Having an in-depth understanding of your customers and the marketplace can help you meet their needs and establish a long-term relationship with your audience.

3. Lean on experts

As you work on making your idea into a reality, consider getting advice from professionals such as a lawyer, accountant, financial advisor and a business coach.

By surrounding yourself with a circle of advisors early on, and being open to what they suggest, you can benefit from their guidance to get you up and running with confidence.

For more small business tips from CIBC, visit cibc.com/businessadvice.