{"id":58002,"date":"2023-05-23T00:00:00","date_gmt":"2023-05-23T00:00:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/"},"modified":"2024-06-07T14:05:33","modified_gmt":"2024-06-07T18:05:33","slug":"rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/","title":{"rendered":"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\">\n\t\t\t\t\t\t\t<span>Entrepreneur<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By RBC<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Lightbulb with question marks around it.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap] &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published May 23, 2023 \u2022 11 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>Businesses always operate under a certain degree of uncertainty, and planning for the \u201cwhat ifs&#8221; is critically important. Scenario planning, which involves making assumptions on what the future will bring, can help you gain an understanding of how different situations \u2013 or scenarios \u2013 will affect your business. Allowing you to see alternate visions of the future, scenario planning can help you identify pitfalls, gaps and opportunities before they happen, and stress test your plans against a variety of situations.<\/p>\n\n\n\n<p>In this webinar, Svendsen and Cummins discuss the fundamentals of business planning and how to incorporate scenario planning to help you start, run and grow a successful business.<\/p>\n\n\n\n<p>RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues &amp; opportunities facing businesses today. We&#8217;ve made a recording available to all registrants, in case you weren&#8217;t able to join us or would like to re-watch the content. Please follow the link below:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Catch an on-demand recording:<\/h2>\n\n\n\n<div class=\"wp-block-group is-style-most-popular-issues most-popular-issues is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading mob-mar-b-hlf mar-b-hlf\" id=\"h-incorporating-scenario-planning-into-your-business\">Incorporating Scenario Planning into your Business<\/h3>\n\n\n\n<div class=\"wp-block-group is-style-most-popular-issues most-popular-issues is-content-justification-left is-nowrap is-layout-flex wp-container-core-group-is-layout-c6736c52 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-rbc-icon-block mar-r mob-mar-r\"><img loading=\"lazy\" decoding=\"async\" width=\"75\" height=\"75\" class=\"icon icon-80\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/\/assets\/img\/icons\/icon-like.svg\" alt=\"icons\/icon-like\" \/><\/div>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Learn the fundamentals of business planning and how to incorporate scenario planning to help you start, run and grow a successful business. [English event]<\/p>\n\n\n\n<p class=\"mar-b mob-mar-b-hlf\"><a href=\"https:\/\/rbc.rev.vbrick.com\/embed?id=bab86e25-e0c7-45f6-ae45-b1dfd7addcb3\" target=\"_blank\" data-dig-id=\"LP-57958-6675937e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Watch Now\" class=\"rbc-link-format goto-link\" data-icon-class=\"goto-link\" rel=\"noreferrer noopener\">Watch Now<\/a><br>Password: <strong><code>RBCsmallbiz<\/code><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<h4 class=\"wp-block-heading\">Business planning basics<\/h4>\n\n\n\n<p>There are many reasons to write a business plan. And while some owners consider writing a business plan an overwhelming task, it doesn&#8217;t have to be. By breaking it down into individual steps, thinking through possible scenarios and developing an action plan to address them can help you express both the vision for your business and the ways in which you can address various factors that may affect it along the way.<\/p>\n\n\n\n<p>The very act of putting what&#8217;s in your head onto paper can help you articulate&nbsp;<i>why<\/i>&nbsp;your business exists,&nbsp;<i>what<\/i>&nbsp;it will bring to the market and provide clarity on&nbsp;<i>how<\/i>&nbsp;you should take action as your business develops.<\/p>\n\n\n\n<p>As Cummins explains, she comes across two camps of entrepreneurs in her role as an entrepreneur coach. \u201cOn one hand, I see people flying by the seat of their pants and they&#8217;re fighting fires every day because opportunities keep coming up and they don&#8217;t know whether they should go after them or not. That is a sign of someone who hasn&#8217;t done that forward thinking of taking the time to articulate and create a critical path for their business,&#8221; she says. \u201cThen I see people who have a business plan. They know exactly where they want to go, they have ideas on how to get there, they&#8217;re able to focus and use their time much more powerfully and strategically, and they tend to grow faster.&#8221;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Building scenarios into your business plan<\/h4>\n\n\n\n<p>While having a vision for your business&#8217; future \u2013 and plotting it out in your business plan \u2013 is important, it is just as valuable to consider the obstacles and detours your business may face.<\/p>\n\n\n\n<p>Thinking about and building solutions to account for a variety of scenarios can help ensure your business continues to move forward, even if it needs to take a few turns along the way.<\/p>\n\n\n\n<p><b>Scenario 1: Sales slow down<\/b><\/p>\n\n\n\n<p>What if a new competitor enters the market and affects your sales? What if external factors affect demand for your product?<\/p>\n\n\n\n<p>Possible solutions:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>To compensate for slower sales, consider reducing costs, buying product upfront and\/or locking in prices to mitigate the risk of rising prices<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Eliminate slow selling items<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Talk to your customers to learn the root of slower sales<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Initiate new marketing programs to reach new client groups<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><b>Scenario 2: Profits take a hit<\/b><\/p>\n\n\n\n<p>What if the cost of supplies or inventory increases? What if rent or utilities go up? What if the Canadian dollar falls dramatically, or interest rates rise?<\/p>\n\n\n\n<p>Possible solutions:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>To offset a higher cost of doing business, it may make sense to revisit your market analysis and raise your prices<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Look for ways to reduce your input costs by changing up your operations<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Scan for alternate suppliers<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Looking at changing your location, renting out unused space or changing your business model to reduce your fixed costs<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><b>Scenario 3: Demand outpaces capacity<\/b><\/p>\n\n\n\n<p>What if you can&#8217;t meet orders? What if you don&#8217;t have enough cash to cover upfront costs?<\/p>\n\n\n\n<p>Possible solutions:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Speak with your suppliers to renegotiate terms, allowing you to reduce your upfront cash outlay<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Hire temporary employees<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Monitor your inventory closely to support popular items<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Secure operating financing before you need it \u2013 so you don\u2019t have to scramble for cash when the need arises<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Identifying the \u201cwhat if&#8221; questions that are most relevant to your business can help you anticipate and plan for the unexpected, and set your business up for success.<\/p>\n\n\n\n<p>To learn more about building a strong business plan, expand the content below. You&#8217;ll find advice and insights discussed in this webinar and find out about the tools that can help you develop and update your best plan.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/1.png\" alt=\"RBC Small Business Talks infographic\" class=\"wp-image-45357\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/2.png\" alt=\"RBC Small Business Talks infographic\" class=\"wp-image-45356\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">The key components of a business plan<\/h4>\n\n\n\n<p>Explore these seven key components of a business plan, as discussed by Svendsen and Cummins:<\/p>\n\n\n\n<p><b>1)&nbsp;Introduction<\/b><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>If you\u2019re submitting your business plan to an investor or financial institution, this is a really important section as it sets the stage for your audience. The introduction should include:<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>A cover page<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>A table of content<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>An executive summary<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>The executive summary is often considered the most important part of the business plan, as many investors will read it first \u2013 and it may influence whether they decide to keep reading. Svendsen&#8217;s advice is to write this last since it sums up the story you&#8217;ll tell in the rest of the document.<\/p>\n\n\n\n<p><b>2)&nbsp;<\/b><b>The Business Environment<\/b><\/p>\n\n\n\n<p>In the Business Environment section, you will identify the external factors that could have an impact on your business. If you haven&#8217;t started your business yet, this section can include the research you&#8217;ve done so far. If you&#8217;re already operating, this is where you can talk about how long you&#8217;ve been in business, what you have accomplished so far, industry trends and growth prospects.<\/p>\n\n\n\n<p>Cummins likes to ensure two key questions are answered in this section:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Why are you\/ your product\/ your service needed now more than ever?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Why are you the best person to provide it?<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><b>3) The Marketing Plan<\/b><\/p>\n\n\n\n<p>As Svendsen explains, she has seen many owners focus on the \u201cshiny objects&#8221; of marketing, particularly given evolving trends in social media. Cummins offers advice to owners considering their marketing efforts.<\/p>\n\n\n\n<p>\u201cThe biggest thing to remember is that not all buyers are on TikTok,&#8221; she says, explaining the importance of knowing who&#8217;s buying from you and where they&#8217;re hanging out. If you&#8217;re trying to be on all platforms all the time, you won&#8217;t be able to be present or build the amount of content needed to fit all the parameters and algorithms.&#8221; She emphasizes the need to build good metrics to determine whether your efforts are worthwhile.<\/p>\n\n\n\n<p>From a scenario planning perspective, Cummins recommends keeping close tabs on customers to ensure the product or service you&#8217;re providing is still meeting their needs. And if your customers are retooling (because they&#8217;re dealing with a pandemic or an uncertain economy, for example), planning for different scenarios enables you to retool your business to either meet their changing needs or to meet the needs of new customers.<\/p>\n\n\n\n<p><b>4)&nbsp;<\/b><b>Operations<\/b><\/p>\n\n\n\n<p>The operations section of the business plan is the opportunity to demonstrate an understanding of your end-to-end business \u2013 how your product is made or how your service is delivered and how it gets to the customer.<\/p>\n\n\n\n<p>Cummins emphasizes the need to outline your business processes. \u201cIf you don&#8217;t want to spend the rest of your working time doing absolutely everything within your business, you need a plan. It&#8217;s important to look for opportunities to make repeatable, automated and leveraged processes so you can be as efficient as possible with your time and focus on your zone of genius \u2013 that is, what is easy for you to do, but hard for others.&#8221;<\/p>\n\n\n\n<p>Having a process written down enables you to detect vulnerabilities (i.e., you may realize you just have one supplier for a key element of your business) and think through scenarios that can maximize your efficiency and therefore the output of your business.<\/p>\n\n\n\n<p><b>5)&nbsp;<\/b><b>Financing and Cash Flow Planning<\/b><\/p>\n\n\n\n<p>Your finances section is a critical part of your business plan. The number one piece of advice Svendsen offers is to be realistic with your financial projections based on the scenarios outlined in the business environment section.<\/p>\n\n\n\n<p>Cummins shares that one of the biggest things she notices is that business owners tend to underestimate the cost of running their business. She works by the 30\/30\/10 rule. \u201cRight off the top, 30% goes into your tax savings bucket. Put it into a high-interest, compound earnings savings account so you have the money ready to pay your taxes,&#8221; she says. \u201cThen put 30% into your operating costs, which will fluctuate depending on the type of business you have, leaving 10% for profit. When you start looking at your cash flow through this lens, you can start seeing how to allocate a budget.&#8221;<\/p>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>For an outline of what should be in this \u2013 and other sections \u2013 of your business plan, take a look at our article&nbsp;<a href=\"https:\/\/discover.rbcroyalbank.com\/how-to-build-the-best-business-plan-ever-step-by-step-guide\/\" target=\"_blank\" rel=\"noreferrer noopener\">How to Build the Best Business Plan Ever: Step-by-Step Guide<\/a>.<\/p>\n<\/div>\n<\/div>\n\n\n\n<p><b>6)&nbsp;<\/b><b>The Team<\/b><\/p>\n\n\n\n<p>Depending on the type and size of business you run, your team can be just you, or it can be a team of people you&#8217;ve gathered around you. When it comes to hiring, Cummins offers this insight:<\/p>\n\n\n\n<p>\u201cI&#8217;m a bit unconventional when it comes to hiring, but if you&#8217;re the only one who is responsible for revenue or sales, one of your biggest opportunities is to hire someone who is going to strategically increase your revenue or sales so you can do more of what you do.&#8221; While many people will first hire assistants, Cummins recommends &#8216;hiring up&#8217; versus &#8216;hiring down.&#8217;<\/p>\n\n\n\n<p>\u201cYou can do your own emails for a while, you can answer your own phone. But when you can get someone to help you sell more, that&#8217;s a powerful growth engine for you.&#8221;<\/p>\n\n\n\n<p><b>7)&nbsp;<\/b><b>Risks and Conclusions<\/b><\/p>\n\n\n\n<p>If you approach your business plan with a scenario planning lens, many of your risks will surface throughout your plan. These risks may include:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>What if you have only one supplier?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What if your sales grow too quickly?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What if the competitive landscape changes?<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>These are all risks to your business, which should be addressed as you build your plan. Other risks to consider include cyber risks, protecting intellectual property and cyclical or environmental risks that may play a role.<\/p>\n\n\n\n<p>When you build your business plan, consider the various scenarios and \u201cwhat ifs&#8221; that could affect your business so you can create alternate visions of what your future will look like and how you&#8217;ll get there. As consumers and business owners have experienced, life can change on a dime \u2013 but there is real opportunity to be found in an evolving landscape.<\/p>\n\n\n\n<p>\u201cAs entrepreneurs, we have the opportunity to be fluid, to shift and meet the market where it&#8217;s at,&#8221; says Cummins. Thinking specifically about today&#8217;s economic environment, she believes there is no need to wait.<\/p>\n\n\n\n<p>\u201cThis is such a prime opportunity for small business. Some of the most powerful companies were built during recessions \u2013 we just need to take one step at a time and focus not on the negative but notice the opportunity that various situations and landscapes are presenting.&#8221;<\/p>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h4 class=\"wp-block-heading\" id=\"h-let-us-help-you-build-your-business-plan\">Let Us Help You Build Your Business Plan<\/h4>\n\n\n\n<p>Building a business plan is a critical step to the success of any business \u2013 but RBC recognizes that it\u2019s not always easy to do on your own. With the new RBC Business Plan Builder, you don\u2019t have to. This comprehensive tool will guide you through a series of questions, offering resources and providing a framework for success. The business plan can be completed in as little as 30 minutes.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.rbcroyalbank.com\/business\/advice\/business-plan-builder\/index.html\" data-dig-id=\"LP-58002-1a77cc7e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Try The Business Plan Builder Now\" class=\"rbc-link-format standalone-link\" data-icon-class=\"standalone-link\">Try The Business Plan Builder Now<\/a> <\/p>\n<\/div>\n<\/div>\n\n\n\n<p><strong>Additional resources discussed during the event:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Try our&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/business\/paying-and-receiving\/business-cash-flow-tool.html\" data-dig-id=\"LP-58002-67afb8e6\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Cashflow Calculator\" class=\"rbc-link-format\">Cashflow Calculator<\/a>&nbsp;to input different scenarios into your plan.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Download the \u201c<a href=\"https:\/\/www.rbcroyalbank.com\/business\/pdf\/Forecast%20cash-flow-template.pdf\" data-dig-id=\"LP-58002-6aa9159f\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"12-Month Cash Flow Template\" class=\"rbc-link-format\">12-Month Cash Flow Template<\/a>\u201d (interactive pdf)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Visit the new&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/business\/advice\/starting-a-business.html\" data-dig-id=\"LP-58002-0fb291bd\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Starting a Business site\" class=\"rbc-link-format\">RBC Starting a Business site<\/a>&nbsp;to find tools, calculators, resources and advice to help you in your critical start-up phase.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>Missed our recent webinars for business owners? Catch recordings all of our recent events&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/innovation\/rbc-small-business-talks-exclusive-webinar-series-for-business-owners\/\" data-dig-id=\"LP-58002-82cb04c2\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"here\" class=\"rbc-link-format\">here<\/a>!<\/strong><\/p>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-956458c9-8e1c-4890-9b29-97c6c3e0ff72\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap] &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-cdc37699-70f9-45a3-8785-1d92d5e89732\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"709\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Image.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Business owners reviewing financial documents on laptop with calculator\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Image.jpg 2080w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Image.jpg?resize=300,208 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Image.jpg?resize=768,532 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Image.jpg?resize=1024,709 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Image.jpg?resize=1536,1064 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/04\/Tax-Image.jpg?resize=2048,1419 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/\">\n\t\t\t\t\t\tCash Flow Management and Financials\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/cash-flow-management-and-financials\/top-tax-deductions-for-small-businesses-dont-leave-money-on-the-table\/\" class=\"card-title h4 mar-t-0\">Top Tax Deductions for Small Businesses: Don&#8217;t Leave Money on the Table<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"574\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Marie-Image.png?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Image de Marie-Astrid Dubant\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Marie-Image.png 1918w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Marie-Image.png?resize=300,168 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Marie-Image.png?resize=768,430 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Marie-Image.png?resize=1024,574 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Marie-Image.png?resize=1536,861 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/\">\n\t\t\t\t\t\tBusiness Success Stories\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/marie-astrid-dubant-turning-bold-ideas-into-lasting-impact\/\" class=\"card-title h4 mar-t-0\">Marie-Astrid Dubant: Turning Bold Ideas into Lasting Impact<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"572\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Aminder-Image.png?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Image of Aminder Kaur Mangat founder of AKM Law.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Aminder-Image.png 1918w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Aminder-Image.png?resize=300,168 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Aminder-Image.png?resize=768,429 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Aminder-Image.png?resize=1024,572 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/Aminder-Image.png?resize=1536,858 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/\">\n\t\t\t\t\t\tBusiness Success Stories\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/akm-law-setting-a-new-precedent-for-building-a-values-driven-firm\/\" class=\"card-title h4 mar-t-0\">AKM Law: Setting a New Precedent for Building a Values-Driven Firm<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-956458c9-8e1c-4890-9b29-97c6c3e0ff72 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-956458c9-8e1c-4890-9b29-97c6c3e0ff72 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-cdc37699-70f9-45a3-8785-1d92d5e89732 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-cdc37699-70f9-45a3-8785-1d92d5e89732 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues &amp; opportunities facing businesses today.<\/p>\n","protected":false},"author":10,"featured_media":70417,"parent":57337,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[157],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[33],"rbc_mmm_category":[305,326,390],"class_list":["post-58002","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-entrepreneur","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-beginner","rbc_mmm_category-business","rbc_mmm_category-right-sized-business-advice","rbc_mmm_category-small-business"],"acf":{"contently_publication_id":"347317","custom_author":"RBC","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues &amp; opportunities facing businesses today.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues &amp; opportunities facing businesses today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-07T18:05:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"930\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\"},\"author\":{\"name\":\"RBC\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0\"},\"headline\":\"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]\",\"datePublished\":\"2023-05-23T00:00:00+00:00\",\"dateModified\":\"2024-06-07T18:05:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\"},\"wordCount\":2100,\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80\",\"keywords\":[\"Entrepreneur\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\",\"name\":\"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap] - My Money Matters\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80\",\"datePublished\":\"2023-05-23T00:00:00+00:00\",\"dateModified\":\"2024-06-07T18:05:33+00:00\",\"description\":\"RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues & opportunities facing businesses today.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80\",\"contentUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80\",\"width\":930,\"height\":620,\"caption\":\"Lightbulb with question marks around it.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"My Money Matters\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Right-Sized Business Advice\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Small Business\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/\",\"name\":\"RBC Royal Bank\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0\",\"name\":\"RBC\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"caption\":\"RBC\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"description":"RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues & opportunities facing businesses today.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/","og_locale":"en_US","og_type":"article","og_description":"RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues & opportunities facing businesses today.","og_url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/","og_site_name":"RBC Royal Bank","article_modified_time":"2024-06-07T18:05:33+00:00","og_image":[{"width":930,"height":620,"url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#article","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/"},"author":{"name":"RBC","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0"},"headline":"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]","datePublished":"2023-05-23T00:00:00+00:00","dateModified":"2024-06-07T18:05:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/"},"wordCount":2100,"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80","keywords":["Entrepreneur"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/","name":"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap] - My Money Matters","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage"},"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80","datePublished":"2023-05-23T00:00:00+00:00","dateModified":"2024-06-07T18:05:33+00:00","description":"RBC Small Business Talks uncovers the latest trends and insights to help owners navigate the issues & opportunities facing businesses today.","breadcrumb":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#primaryimage","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80","contentUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80","width":930,"height":620,"caption":"Lightbulb with question marks around it."},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"My Money Matters","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/"},{"@type":"ListItem","position":3,"name":"Right-Sized Business Advice","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/"},{"@type":"ListItem","position":4,"name":"Small Business","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/"},{"@type":"ListItem","position":5,"name":"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]"}]},{"@type":"WebSite","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/","name":"RBC Royal Bank","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0","name":"RBC","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","caption":"RBC"}}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]","url":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\/"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"RBC"}],"creator":["RBC"],"publisher":{"@type":"Organization","name":"RBC Royal Bank","logo":""},"keywords":["entrepreneur"],"dateCreated":"2023-05-23T00:00:00Z","datePublished":"2023-05-23T00:00:00Z","dateModified":"2024-06-07T18:05:33Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"RBC Small Business Talks: Incorporating Scenario Planning into your Business Plan [Webinar Recap]\",\"url\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/right-sized-business-advice\\\/small-business\\\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/right-sized-business-advice\\\/small-business\\\/rbc-small-business-talks-incorporating-scenario-planning-into-your-business-plan\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/TDD-1.jpg?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/TDD-1.jpg?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"RBC\"}],\"creator\":[\"RBC\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC Royal Bank\",\"logo\":\"\"},\"keywords\":[\"entrepreneur\"],\"dateCreated\":\"2023-05-23T00:00:00Z\",\"datePublished\":\"2023-05-23T00:00:00Z\",\"dateModified\":\"2024-06-07T18:05:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbcroyalbank.com\/p.js"},"featured_img":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TDD-1.jpg?quality=80&w=930","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbcroyalbank.com\/en-ca\/author\/fclaussen\/","display_name":"RBC"},"relative_dates":{"created":"Posted 3 years ago","modified":"Updated 2 years ago"},"absolute_dates":{"created":"Posted on May 23, 2023","modified":"Updated on June 7, 2024"},"absolute_dates_time":{"created":"Posted on May 23, 2023 12:00 am","modified":"Updated on June 7, 2024 2:05 pm"},"featured_img_caption":"","tax_additional":{"post_tag":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"advgb-post-tax-term\">Entrepreneur<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Entrepreneur<\/span>"],"slug":"post_tag","name":"Tags"},"rbc_content_type":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/content-type\/article\/\" class=\"advgb-post-tax-term\">Article<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Article<\/span>"],"slug":"rbc_content_type","name":"Content Types"},"rbc_audience":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/audience\/business-owners\/\" class=\"advgb-post-tax-term\">Business Owners<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business Owners<\/span>"],"slug":"rbc_audience","name":"Audiences"},"rbc_lob_group":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/lob-group\/business\/\" class=\"advgb-post-tax-term\">Business<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business<\/span>"],"slug":"rbc_lob_group","name":"LOB Groups"},"rbc_difficulty_level":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/difficulty-level\/beginner\/\" class=\"advgb-post-tax-term\">Beginner<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Beginner<\/span>"],"slug":"rbc_difficulty_level","name":"Difficulty Levels"},"rbc_mmm_category":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/business\/\" class=\"advgb-post-tax-term\">Business<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/right-sized-business-advice\/\" class=\"advgb-post-tax-term\">Right-Sized Business Advice<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/small-business\/\" class=\"advgb-post-tax-term\">Small Business<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business<\/span>","<span class=\"advgb-post-tax-term\">Right-Sized Business Advice<\/span>","<span class=\"advgb-post-tax-term\">Small Business<\/span>"],"slug":"rbc_mmm_category","name":"Categories"},"ep_custom_result":{"linked":[],"unlinked":[],"slug":"ep_custom_result","name":"Custom Results"}},"series_order":"","jetpack_sharing_enabled":true,"primary_tag":"157","primary_rbc_mmm_category":"390","_links":{"self":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/58002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter"}],"about":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/types\/rbc_my_money_matter"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/users\/10"}],"version-history":[{"count":21,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/58002\/revisions"}],"predecessor-version":[{"id":87478,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/58002\/revisions\/87478"}],"up":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/57337"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media\/70417"}],"wp:attachment":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media?parent=58002"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/tags?post=58002"},{"taxonomy":"rbc_content_type","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_content_type?post=58002"},{"taxonomy":"rbc_audience","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_audience?post=58002"},{"taxonomy":"rbc_lob_group","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_lob_group?post=58002"},{"taxonomy":"rbc_difficulty_level","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_difficulty_level?post=58002"},{"taxonomy":"rbc_mmm_category","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_mmm_category?post=58002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}