How to increase your wealth?
Becoming wealthy may not be your primary goal, but if it is, there is a reasonably predictable way to improve your wealth. Step 1: Follow your passion Parents around the … Read more
financial planning
How to leverage Tax Deductions through Percentage of Use Accounts?
Some of the key business deductions available to self-employed Canadian small business owners are related to business meals and promotional activities, automobile mileage and other expenses, and home office expenses. … Read more
Should you be Stingy with your Equity?
It can be tempting to offer shares in your company to finance its growth. These days, there are plenty of investors chasing promising new companies and, in today’s tight labour … Read more
How to Pay Yourself as a Small Business Owner in Canada
Once you are established in your business, or if you plan to launch an entity that is more than a side-hustle right from the start, it is important to consider … Read more
How to determine if you should diversify?
How does Vitamix get away with charging $700 for a blender when reputable companies like Cuisinart and Breville make blenders for less than half the price? It’s because Vitamix does … Read more
How to proceed when you hit the “Freedom Point”?
When was the last time you calculated the percentage of your net worth tied to your company’s value? When you started your business, its value was probably negligible. Unless you … Read more
How to become a successful entrepreneur?
Where do you sit on the doer vs. dealmaker continuum? On one hand, you have business owners who are really good operators. They have a plan, know their numbers and … Read more
What are the hurdles faced by small businesses?
Small businesses stay small either by choice, or because they start chasing growth in the wrong places. When you strip away the layers, it all comes down to darts. Imagine a … Read more
Rich vs. Famous – What does your business need?
Have you set a goal for your company this year? If you’re like most business owners, you’re striving for an increase in your annual sales. It’s natural to want your … Read more
Key Information to Include in an Electronic Invoice
Whenever you generate a new invoice, a unique number is allocated to that invoice. This number is called the Invoice ID. It is recommended that you give a sequential invoice … Read more
