Meet the Business Model Canvas
. The canvas is an entrepreneurial tool that helps you determine how your business will create, deliver, and capture value. The flexibility of the Business Model Canvas enables you to see how the necessary building blocks of your business fit together.
Here are some additional tools provided to help you get started with your planning:
The Small Business Development Center, (SBDC), located at Arkansas Tech University is a resource for assistance with developing a cash flow and financial projections bench marked against an industry’s average financial performance. The SBDC staff will help guide your preliminary business planning.
Contact us with any lingering questions you might have about planning your business!
Most entrepreneurs fund their business startup with their savings, and then raise money from family and friends. Bootstrapping the launch of the business is the common avenue, with debt financing for later on when revenues are flowing to serve the growth of the business.
To finance the business growth, there are several options:
- Financing with a Clarksville financial institution.
- Angel Funds seeks proven business model with revenue that can scale within five to ten years with an exit strategy. Get more information with the Natural State’s Angel Association.
- Venture capital-Startup or growth equity capital or loan capital provided by private investors (the venture capitalists) or specialized financial institutions (development finance houses or venture capital firms) that provide funding in exchange for equity in the business. Check out Arkansas companies Hayseed Ventures, New Road Capital Partners, and Tonic Regional Funds.
For the best information with patents and trademarks, do not rely solely on the internet. Review the United States Patent and Trademark Office
- Registering with the United States Patent Office gives you rights in 50 states
- For copyrights, just use the symbol
- First to file gets the patent
- Provisional patent is all about getting the file date, and you don’t need an attorney to file a provisional patent
- Process for obtaining a patent is typically 1 to 3 years
- Have your patent filed before you disclose or sell
- Patents expire in 20 years
For more guidance and helpful tips please visit the Inventors and Entrepreneurs Assistance Center.