Reasons to consider Hiring a Financial Planner

For business owners who want financial security now and freedom in retirement, having a financial planner on the team is a must. A financial planner will create a customized, strategic action plan to help you achieve your personal financial goals. Getting to know you and your business inside out is the first step a financial planner will take to understand where you are now, where you want to go, and…  Read more

Protect Your Small Business from Cyber Attack

Many small business owners assume that cyber attacks only happen to big companies, banks or governments. But the truth is, limited knowledge of digital security and lack of defences make small businesses particularly vulnerable to attack. Research shows that 71% of all cyber attacks happen to businesses with less than 100 employees – and yet many CEOs have yet to invest in a formal defense plan. With cyber attack insurance…  Read more

Tactics for Paying Down Debt Faster

Very few business owners have the means to operate without borrowing at start up, or later on when it’s time to invest in growth. Borrowing, however, is only a temporary solution to a lack of funds. Without a repayment plan debt can grow into an unmanageable problem that costs much more than the initial loan. These strategies will help you re-pay your debt faster, so you can invest the cash…  Read more

Tips for Managing Remote Teams

So many business employees are now telecommuting, that companies around the world are restructuring their management practices to meet the challenges of remote collaboration. Because they tend to be more agile and open to change, small businesses are particularly well positioned to adapt to telecommuting. Increased productivity and happier employees who appreciate the added flexibility are just a few benefits winning over small business owners. But telecommuting also presents some…  Read more

8 Ways to Manage People Better

Good people management comes through experience. Courses will teach you the theories, but there is no substitute for day-to-day practice managing staff and their issues. Giving yourself a head start with a common-sense approach and a healthy respect for everyone you come into contact with can help to develop a happy and productive workforce. Don’t micro-manage. Your employees were hired because they could do the job, so let them do…  Read more

Strengthening your Balance Sheet

Your balance sheet (now more correctly called a Statement of Financial Position) reveals a great deal about your business, including the total value of your assets – the things you own; how much you owe to others – your liabilities; and the level of your solvency. These three aspects will be studied carefully by lenders and investors − and by buyers if you intend to sell your business. But they…  Read more

Corporate Gifts Ideas

As a small business owner, you may know the importance of recognizing your clients’ ongoing patronage—but you may not have a large budget to support high end gift giving. Your clients will love these four simple and unique gift ideas. The best part? They can be personalized to suit the recipient’s tastes, and customized to fit any budget. Subscription Memberships Designed to surprise and delight, box subscriptions are the gift…  Read more

Does “Mindfulness” have a Place in Business?

According to Google, which offers employees a course on mindfulness meditation, and Lululemon, a company that keeps a Director of Mindfulness on staff, the answer is a resounding yes. Mindfulness, as American scientist Jon Kabat-Zinn defines it, is simply “paying attention in a sustained and particular way – on purpose, in the present moment and non-judgmentally.” Research has shown that practicing mindful meditation can lead to reduced stress, lowered blood…  Read more

Avoid These Five Costly Accounting Mistakes

A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to…  Read more

Five Reasons to Join a Franchise

If you’ve got the entrepreneurial spirit but aren’t ready to start up your own business, you might want to consider a franchise. A franchised business can offer the best of all worlds: the opportunity to work for yourself, earn a profit quickly, and enjoy a high long term success rate. Read on for five more reasons a franchise may be right for you. Cost Savings It’s expensive to start up…  Read more

Tax Season Tips for Small Business Owners

Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place. And well organized SMBs are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information. Here are four more ways to…  Read more

Four Ways to Make your Business Easier to Sell

Perhaps you’d always planned to build a thriving business to eventually sell for a tidy sum – or maybe for unexpected personal reasons it’s best to let your company go sooner rather than later. No matter what the reason for selling your business, experts agree: it’s best to be prepared well in advance as it can take years to complete a successful sale. These four tips will help you get…  Read more

Tips to Keep Your Business Finances in Order

If you’re like most small business owners, you spend the majority of your time managing daily operations, keeping customers happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion. However, measuring profitability, creating realistic budgets, and planning ahead for the future are crucial to your professional success. Follow these four tips to get a handle on the numbers, and…  Read more

Is it Better to Buy or Lease a Company Vehicle?

If you need a car to operate your business, you may wonder whether it makes more sense to purchase or lease. On the one hand, if your business owns the car you’ll have a long-term asset and may qualify for more tax deductions. On the other hand, buying a car is a huge expense and monthly lease payments tend to be lower than car loan payments; they may also be…  Read more

Why Bookkeeping is Crucial to Your Success

Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals. But despite their proven importance, many business owners dread and avoid accounting tasks. In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one the worst parts of running a business! Wondering…  Read more

How a “Virtual CFO” can Help you Grow your Business

Every business can benefit from dedicated financial management expertise, but very few small businesses have the means to hire someone full time—particularly in the lean early years. Unfortunately, it’s those first few years when a company is just starting up that establishing good habits with managing financial resources is so important, and, over time can even make or break a business. Hiring a virtual CFO is an affordable option for…  Read more

Should you Hire Remote Overseas Workers?

The rise of the global workforce has opened up exciting possibilities for small business owners whose growing companies could use an extra set of hands. If you’re wondering whether it’s worthwhile to hire overseas workers for virtual admin support or other business services, cost considerations alone can make the prospect quite attractive. Before you decide to hire an overseas worker for your next project, keep these important considerations in mind.…  Read more

5 Tips for Creating a Better LinkedIn Profile

Whether you’re an entrepreneur seeking lucrative new partnerships or a skilled worker in search of the perfect job placement, LinkedIn is the social network you need to be using. As the world’s premier social network geared towards professionals from all walks of life, LinkedIn is effectively your online portfolio and résumé. Companies all over the world use it daily to seek out valuable new connections, but with some 350 million…  Read more

Three Alternatives to Microsoft Office Software

Many of us think of the MS Office Suite as the only option for word processing, spreadsheets and presentations. However, open source software is changing that assumption for a growing number of small business owners. Some are looking for a free alternative to paid software products, and some prefer the idea that code should be shared, adapted and improved freely by everyone. Read on to learn more about 3 free…  Read more

Grow your Email List through Personal Contact

When your email list is small or you’d just like to add more people and get higher open rates, it’s smart to grow your list through personal contacts. Begin with the obvious: ask friends, family and business contacts to sign up. Everyone has a pool of people who might be happy to hear about your business via email. All you have to do is remember to ask. Put a note…  Read more

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