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www.insidehalton.com |OAKVILLE BEAVER |Thursday, October 19, 2017 |36 Canadian Sm all BusinessWeek" Strategies for making the most of your small business BY CH R IS TRABER Conventional wisdom suggests th a t free advice is w orth exactly w hat you paid for it. Professional, paid counsel, however, remains one of the strongest strategic pillars for small business entrepreneurs seeking success. " Make use of the experts, be they lawyers, financial advisors, chartered ac countants and bankers," opined Business Development Bank of Canada finance and consulting GTA North vice-president Stephen Bald. "Consult w ith quality advi sors." Buying expertise tops his list of the five key tactics entrepreneurs should employ to survive and thrive, said Bald, based in BDC's Vaughan office which serves 6,200 GTA clients, one-third of whom are small businesses. Secondly, start-ups in particular must develop a solid business plan, he said. A blue print detailing w hat you w ant to accomplish and how you are m ost likely to achieve goals and objectives is an absolute necessity. The third step, according the 17-year BDC veteran, is identifying the specific actions required to bring the plan to fruition. " Implement those actions and make sure you have all the right resources," said Bald of the fourth strategy. Resources include technology, manpower and finances in addition to being savvy in the burgeoning realm of social media. The fifth element is monitoring and measuring the efficiency of your plan. " Don't be afraid to make changes or amendments," he said. " Don't be married to the plan. Be flexible." Many small enterprises fail because own ers hope for something unforeseen that w ill turn fortunes around, Bald said. His best advice to those is to recognize that their first loss is their best loss. "They need to know that some things can be outside their control," he said. "They should be flexible to w ork around them." For more information on BDC Small Business Week, which runs from Monday, Oct. 15 through Saturday, Oct. 21, visit bdc.ca. p re fa W e C a n S e r v ic e Muffler & Brake Y o u r F le e t o f V e h ic le s ! Residential and Commercial Carpet Cleaning Done "Rite"! If you're in need of an expert in carpet cleaning call us today! We offer both Commercial and Residential Carpet Cleaning and specialize in removing difficult stains. Call us and see why we have been chosen the best for 9 years! A c o m p le t e m a in t e n a n c e p r o g r a m t o k e e p y o u m o v in g . Value Pricing. Top Quality Parts. Express Service · Exhaust ·Tune-Up · Brakes ·Tires ·Suspensions · Diagnostics 260 SPEERS ROAD, OAKVILLE · ( 905) 338-6833 Prefferedmuffler@live.ca Deep Steam Cleaning · Disinfecting · Deodorizing Get Your Free Estim ate or Book Online! www.kleenrite.ca info@kle enrite.ca 905-407-8789