Mark Ruddock

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• Where I can find resources that help me calculate my project budget? I want to consider outsourcing but I dont know the good starting points on the Net. Or people who are willing to help me out with their knowledge.

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    Hard to answer without more specifics … why type of industry? Perhaps I can connect you to some folks who would know more …

• I am about to exit a company that bought my business 5+ years ago. I plan on taking a year off to regroup and think about what is next. I have fallen into my other ventures, I have money to keep me going for quite a while, but I want to start working on the next big thing, but not really sure where to start. With no real industry in mind what is your suggestion for looking at a new venture / start up?

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    Ideas come from inspiration … inspiration comes from people … network like crazy, especially outside the circles you normally frequent and devour all the content you can on-line … chances are, your creative juices will start to flow and you will likely discover interesting new business opportunities.

• Hello, Thank you for answering my questions I dont think all of my question was posted. I am 22 and a graduate of Centennial College in International Business, after a year of job hunting with no luck I have decided to start my own company. I have a business idea and I am working on a business plan. I was wondering where should I start it seems really overwhelming. Thank you

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    Try to break the problem down into manageable bits … sanity check that this is a product that has a compelling market … understand the competitive landscape a bit, and validate that you have a shot … figure out what the minimum viable product, and how can you get it built (fellow students, etc.) … identify potential sources for friends/family funding … find some mentors to run the idea by … etc.

• I have a website, that also bears the name to the product I am want to sell. It just shirts for now. How do I take my product, my site to the next level as far as getting a manufacture, getting trademarks, copyrights and also inc. Is this neccesary.

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    You can do some of this on-line (depending on the jurisdiction) … but for any of the heavy lifting stuff, you will need to find a good startup friendly lawyer.

• How can I sell an online service site that Is ready to launch?

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    I’d really need more specifics in order to answer this question … sorry

• How likely is it that another entrepreneur will steal your idea? Is it best to tell anyone and everyone who will listen about your great idea?

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    I’d be smart about this … look at the risk/reward of each encounter … don’t tell someone about a unique idea unless that risk/reward is positive … pick your conversations carefully. However, once you have launched, and are well under way … tell as many people as you can :–)

• Hi, I need a website for my business. Should I purchase a ready made template and have it customised, or should I have a webiste designed from beginning to end ? thanks Garry

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    Depends on the business and on who much you want to spend. There are some great templates/services out there for a range of businesses, but remember that the web is your most visible presence to the world, and the first impression you will generate with customers … so it’s probably best that you get some help regardless of what approach you may chose. Look at template driven approaches such as Shopify or Squarespace … or approach great web design companies like JetCooper or SayYeah.

• I am looking at selling my business, what is the best way to do this?

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    Start with any strategic partners who you already have, who might find the business valuable … failing that, quietly reach out to a small number of potential buyers (groups for whom your product/technology/knowhow might generate competitive advantage) and see if you can get one interested … once that happens you might be able to attract more than one suitor … and thereby establish a good price.

• How do we monetize or sell a healthy gourmet cooking & food safety blog, distinguished by in-depth research, thorough fact-checking & expertise in "food as medicine"?

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    Sounds like you are building a very specific community … so try to find the advertisers for whom that community is the most compelling. Just be aware that to attract direct advertisers, you’ll need a critical mass of readers.

• I've got a great job, but I've also been bitten by the bug. Is it realistic to try to build a successful business part time?

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    You need to be careful of the IP rules that are part of your employment agreement … some companies try to claim ownership of everything you do (even on your own time) while employed by them … that said, assuming that’s not an issue, do as much as your pre-launch research as you can before leaving paid work … but running a business on the side can be quite draining, and I don’t believe that successful startups can be built “part time” .. they tend to consume all of you. Also, be careful that your extracurricular activities don’t impair your performance at work … you have an obligation to your employer. At some point, you are going to probably need to make the leap into a new business full time … or find someone to run the new business.