Blog


You need a vision and target goals to grow your business

Strategy is the destination. The framework for success for your business. As a starting point you need to think about your company’s vision. Vision is the guiding image of success. The future state, the destination...

Author: Laurie Sinclair


Why increasing sales may be bad

Are you excited because your revenue is increasing? Hold on a minute...

Author: Karen Lightstone


When should you incorporate your small business?

Being incorporated means your business is now a separate entity for tax purposes. Any money left in the corporation is taxed. Any money you take out of the corporation is taxed. In order to take money out of the corporation, you only have two choices...

Author: Karen Lightstone


When is a business a business?

People often think they can have a little hobby and rack up expenses, sell some stuff, and use the expenses to reduce other taxable income. This is not going to fly....

Author: Karen Lightstone


Safety nets to protect your business

Internal controls. These are words often used by accountants. “You need better internal controls.”...

Author: Karen Lightstone


What are the Skills Sets of a Successful Entrepreneur?

Is it the technical brilliance of Bill Gates? The obsessive focus on customer experience of Steve Jobs? The vision, passion and strong execution of Care.com’s Sheila Lirio Marcello? Or maybe it’s about previous life experience or education. What really increases confidence in a person’s entrepreneurial abilities...

Author: Laurie Sinclair


Simple numbers straight talk. How to unlock your business potential by managing your cash flows

Many small business owners tend to make financial decisions based on the dollars in their bank accounts. They use their bank balance to make decisions about paying their staff, when to make a purchase from a supplier or when to pay other bills. We know that cash is king. However...

Author: Laurie Sinclair


Should you invest in an RRSP or a TFSA

If you ask someone which is better for your money you will get differing opinions. So, let’s explore how each works and you can decide how to spend your money....

Author: Karen Lighstone


Sales are for Vanity, Profits are for Sanity

I have the pleasure to chair a number of master mind entrepreneur groups. We meet once a month for a day and help our fellow business owners make decisions to be successful in their businesses. I have experienced some amazing magic around our tables. It is absolutely true that we are better, stronger and smarter...

Author: Laurie Sinclair


Making the most of your budget

It is common to prepare a budget for the next year and then never look at it again. Business owners may feel that the very process of preparing a budget is adequate. But your budget contains a wealth of information that can help you stay on track with spending, plan for growth and generally make better business decisions....

Author: Karen Lightstone


How do you determine what to sell?

Business owners who sell more than one product often have a tough time deciding how much of each product to offer their customers. As a small business owner, your cash is likely limited. So, you don’t want to spend a lot of money buying inventory that your...

Author: Karen Lightstone


Free Food: What does it really mean to your business

You’re the owner of a coffee shop and your friend is coming to visit you. Your friend is trying to be supportive of your business. Should you offer them food or beverages for free?...

Author: Karen Lighstone


Business is Numbers. What if you understood your financial numbers better? Would that help you grow and succeed in your business?

Think about how much of a utopia it would be if we could create an environment where entrepreneurs could use technology and data to make more profitable decisions in their business....

Author: Laurie Sinclair


Why I use Finazz

I still use Finazz every month to help quickly identify if there is anything unexpected. If there is – Finazz flags it. This is a huge time-saver. If you do your own books you don’t need to pour over the statements trying to make sense of them. Just use Finazz....

Author: Karen Lightstone


Why does it seem that financial statements are written in a foreign language?

Spending a bit of time understanding your financials can give you the insights you need to make real-time business decisions that help you reach your goals....

Author: Karen Lightsone