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The information, advice, software and tools under this Small Business Resources section
(collectively “Business Information”) are provided to you under the website
term and conditions of use. The Business Information is provided “as
is” and is for informational purposes only and should
not be relied upon as a substitute for advice from a qualified lawyer, accountant or other
professional based on your particular circumstances. You should apply your own judgment in making
use of the Business Information. RedFlag does not endorse or recommend any particular third party
product or service provider.
BIOGRAPHY
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Ask An Expert
By Warren Coughlin
Warren is a business coach with ActionCoach, who is committed to helping entrepreneurs and
executives grow themselves and their businesses so they can live the lives they seek. He has been
recognized as the Canadian Coach of the Year Award (2005), The Top Performing Coach Award (2006) and
as one of the top 10 coaches among the 1000+ coaches around the world in ActionCoach.
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Question
Added on May 29, 2008
Hello, Warren. I have been doing advanced research and recently made a significant scientific discovery. I have been looking into obtaining patents and obtaining funding. Is a start up advisable? What avenue might be best to pursue? Funding, information dissemination and developing applications are my priorities. The area of research is cognitive science.
Answer
Congratulations on your discovery. Cognitive science is a fascinating area that holds much promise. Here are some basic considerations you should be thinking about...
Read the full answer!
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Free Tools for Small Business
- 3 Month Cash Flow (Excel document, 44 KB)
This is a rolling 3 month cash flow tool. This document will help you track what is happening with your cash so that you can make informed decisions about when to invest in new activities, equipment or personnel or about changing your invoicing, collection or payment policies.
- 6 Steps Assessment (Excel document, 204 KB)
The purpose of this exercise is to help you self-identify the stage at where your business sits in its evolution and to help you identify where you should focus your efforts to accelerate that evolution.
- Breakeven + Calculator (Excel document, 28 KB)
This tool will allow you to calculate your break even, your gross profit, your gross margin, your net profit with ease.
- Business Health Check (Excel document, 84 KB)
This questionnaire has been designed to help you rate your business in 100 key areas of business that contribute to your business success.
- Dream Builder (Word document, 84 KB)
It is difficult to set short and mid term goals, and even more difficult to persevere in their attainment when the big vision is not clear. By completing this document, you will have a much clearer picture of what you are ultimately driving towards. It will also help you to evaluate your goals along the way as you will quickly see if they are likely to take you to your vision.
- Glossary of Financial Terms (Word document, 112 KB)
This short list of terms has been assembled to help you understand what your accountant, bookkeeper and business coach are saying to you when reviewing your financials.
- Goal Posts (Word document, 128 KB)
This is a fantastic exercise to help you get clear on your goals and to set benchmarks against which you can evaluate your progress. However, before you do this, ensure you have gone through and completed the Dream Builder exercise.
- Lead Tracking Template (Excel document, 202 KB)
This lead tracker is a simple and easy to use tool that allows you keep tabs on all your leads, where they are in the sales process, what you must do next to move them through the sales process and when. It also helps you track which of your marketing activities are generating the leads, what your conversion rates are and what your average sale amount is.
- Mark-Up vs. Margin (Word document, 108 KB)
There is an important difference between Mark-Ups and Margins, a difference that is misunderstood. This document provides an easy to understand explanation so that you know how to use these measurements.
- Monthly Testing and Measuring (Excel document, 20 KB)
This very simple testing and measuring sheet will allow you to determine how many leads you get/week, what your conversion rate is and your average dollar sale/transaction. By doing this consistently over a 2 month period, you will have a sense of what your business is providing you. You can then apply this information in our Break Even Calculator to determine the number of leads you need to break even.
- Team Effectiveness Assessment (Excel document, 72 KB)
The following questionnaire has been designed to help you rate your business in relation to the ideal team we all wish to have. We have identified 20 key areas that contribute to team success.
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