Business Fundamentals
The Aga Khan Economic Planning Board for Canada is pleased to offer resources for (aspiring) business owners. The business fundamentals page is like an introduction to business class. This page covers a variety of topics that will help you as someone who wants to learn more about finance, accounting, marketing, personal development, and other general business concepts. Additionally, to view resources to help build strong and lasting businesses, please visit the New Business Ventures page.
The information on this page and its contents are intended for general informational purposes only and are not intended to be professional advice nor the advice of the Shia Imami Ismaili Council for Canada or its boards, portfolios, or local councils, including the Aga Khan Economic Planning Board for Canada. Please seek the advice of a relevant professional advisor in relation to your specific situation.
Personal Development Plan: Imagine going on vacation and not having a plan. You may have some fun being spontaneous, but you’ll also be worried about finding a place to sleep, eat, and you may even miss visiting some great places! The same goes for life, by creating a personal plan you can structure your thinking, create goals and have a plan for reference when you need to check your progress!
Goal Setting: Setting goals is a key component to measuring success. However, setting good goals is a key component to helping guide you to achieve your goals. Learn more on how to set goals that are specific, measurable, attainable, relevant, and time-based (SMART)!
Time Management: So, now you have a plan and goals but how can you fit it all in your busy schedule? Time management best practices can help you get everything you want to be done in the day while also allowing you to create time to do the things you enjoy.
Setting Good Habits: Keeping on track with your goals usually requires setting good habits and creating a routine. Keeping positive and making small changes everyday can help you develop these healthy habits.
Reputation Management: Reputations are the first step to people and customer relationships. If you have a trusted and strong reputation, you have the ability to make a change and lead people.
Workplace Relationships: Being on good standing with employees or colleagues is foundational in creating and maintaining a good workplace culture.
- Building good work relationships
- How to manage people
- Book: How to Win Friends and Influence People - Dale Carnegie
Financial Statements: Having a good understanding of the three financial statements and cash flow is the basis for exploring the worlds of finance and accounting.
Financial Ratios: Learning the financial statements is the first step, applying your learning of the statements to understand ratios will help you better analyze the financial standing of a company.
Financing, Real Estate and Corporate Finance: These are all important topics when making business decisions. Whether you want to learn more about financing a business acquisition, leasing commercial real estate, or managing your own business’ finances, this is where you want to start.
General Finance Resources: This section is to help you better understand key financial skills that you need to run or understand a business’s finances.
Business Strategy: Marketing is difficult without having a clear business/brand strategy. Once you develop or understand a business’ strategy, you can then formulate a marketing plan that is complimentary to the strategy.
Market Segmentation: Before you create a marketing plan, you must understand the people who you want to reach with your marketing campaign. These people could be potential users of your product, a category of people in a certain geography, or even other businesses.
Marketing Plan: Once you define your business strategy and identify your target market segment, you can create a marketing plan to define how you will achieve your goals. This can be done through traditional marketing techniques or social media marketing.
Creating a Business Plan: Every business starts with a plan, creating a comprehensive business plan can be the first step to achieve financial success.
Business Terminology: Sometimes, people in business use terms you may not have heard before, or maybe you’re curious to learn some terminology you have never explored further. Using a business glossary can help you!
News Outlets:
Reading the news is one of the best ways to understand what is happening in the broader economy and identifying potential trends that may affect your business or career. Below are some great ways to keep up to date.