I-Cedar Program

Apply NOW for the I-CEDAR program starting September 2024!

Deadline: August 11, 2024

🌟 Tip Tuesday: Key Resources 🌟

We covered Key Activities. Now, let's focus on Key Resources—the essential assets needed to create value for your customers.

Key resources are necessary to sustain and support your business. They can be:

Human: Skilled employees and teams.
Financial: Capital and funding.
Physical: Equipment, buildings, and materials.
Intellectual: Patents, copyrights, and brand reputation.

These resources are vital for delivering value and achieving long-term success!

APPLY NOW!!!

Whether you're a new entrepreneur, already in business, or gearing up for a launch, the I-CEDAR program is tailored for you!

Program Start: September 09, 2024

Program Delivery: Online, 3 days a week

Program Length: 14 weeks (September - December)

Eligibility: Indigenous BC Residents

Fee: Absolutely FREE! Fully Funded.

Apply with the link below: https://icedar.ca/application

🌟 Tip Tuesday: Key Activities 🌟

Last week, we covered Cost Structures. Now, let's explore Key Activities—essential actions that add value to your business.

Key activities reflect the effectiveness of operations and can provide insights into why a business succeeds or fails. By optimizing these activities, businesses can increase their value and adapt to changing consumer needs.

Example: For an Indigenous artisan business, key activities include sourcing sustainable materials, preserving traditional crafting techniques, and building strong community relationships. These activities ensure the authenticity and cultural significance of their products while supporting local economies.

Understanding and evolving your key activities is essential for delivering value and achieving business success!

Credit: Northern BC Tourism/Shayd Johnson

Apply NOW for the I-CEDAR program starting September 2024!

Deadline: August 11, 2024

Whether you're a new entrepreneur, already in business, or gearing up for a launch, this program is tailored for you!

Program Start: September 09, 2024

Program Delivery: Online, 3 days a week

Program Length: 14 weeks (September - December)

Eligibility: Indigenous BC Residents

Fee: Absolutely FREE! Fully Funded.

Apply with the link below: https://icedar.ca/application

🌟 Tip Tuesday: Cost Structure 🌟

Last week, we covered Revenue Streams. Now, let's talk about Cost Structure—the key monetary consequences of operating under different business models.

Classes of Business Structures:

Cost-driven: Focuses on minimizing costs and offering no frills (e.g., low-cost airlines).

Value-driven: Emphasizes creating value for products and services, less concerned with cost (e.g., Louis Vuitton, Rolex).

Characteristics of Cost Structures:

Fixed Costs: Unchanged across applications (e.g., salary, rent).

Variable Costs: Vary with production levels (e.g., music festivals).

Economies of Scale: Reduced costs as production increases.

Economies of Scope: Reduced costs by incorporating related businesses.

Understanding your cost structure helps optimize your business model for success!

Apply NOW for the I-CEDAR program starting September 2024!

Deadline: August 11, 2024

Whether you're a new entrepreneur, already in business, or gearing up for a launch, this program is tailored for you!

Program Start: September 09, 2024

Program Delivery: Online, 3 days a week

Program Length: 14 weeks (September - December)

Eligibility: Indigenous BC Residents

Fee: Absolutely FREE! Fully Funded.

Apply with the link below: https://icedar.ca/application

🌟Tip Tuesday: Revenue Streams 🌟

Last week, we explored Customer Relationships. This week, let's dive into Revenue Streams—how your company makes money! 💰

A revenue stream can come from various models, such as:

1. Transaction-based: One-time payments.
2. Recurring: Ongoing payments for continuous services.

Here are some ways to generate revenue:

- Asset Sales: Sell ownership rights.
- Usage Fees: Charge for use.
- Subscription Fees: Regular charges for consistent use.
- Lending/Leasing/Renting: Exclusive use for a fixed period.
- Licensing: Permission to use intellectual property.
- Brokerage Fees: Acting as an intermediary.
- Advertising: Charge for ad space on your platforms.

Photo Credit - Indigenous Tourism BC/Alicia Haque/Stolo Gift Shop

Apply NOW for the I-CEDAR program starting September 2024!

Deadline: August 11, 2024

Whether you're a new entrepreneur, already in business, or gearing up for a launch, this program is tailored for you!

Program Start: September 09, 2024

Program Delivery: Online, 3 days a week

Program Length: 14 weeks (September - December)

Eligibility: Indigenous BC Residents

Fee: Absolutely FREE! Fully Funded.

Apply with the link below: https://icedar.ca/application