How are a charity and the sale of your business even related? One represents the ultimate capitalist success story, and the other is an organization set up to provide help and raise money for those in need. Here’s the link. For many business owners selling your business represents the most significant tax event in your lifetime. Charity represents an excellent … Read More
10 Strategies to Minimize the Emotional Toll of Selling Your Business
10 Strategies to Minimize the Emotional Toll of Selling Your Business Running a business is stressful. Selling a business can be equally daunting. It’s important to acknowledge and prepare for these changes as a former business owner. There are several similarities between business owners when dealing with company succession plans. There often isn’t a complete succession plan in place. There’s … Read More
How 6 Factors Will Help Your Business Survive and Thrive Through Succession Planning
For many entrepreneurs and business owners, their business represents their single largest asset. Depending upon the size of the business, it likely dwarfs the value of their home or other assets. Like selling your home, to attain the most significant selling price, you will have to invest some upfront time, money and energy into fetching the best asking price possible. … Read More
How Do You Know if You are CRA’s Favourite Target?
No one wants to be in CRA’s cross-hairs. You may be an unsuspecting victim even if you’ve done nothing wrong. We’re not talking about people who are guilty of tax evasion or tax avoidance. Your only criteria may be your marital status. If you are single, divorced or widowed, then you may be CRA’s favourite and unsuspecting victim. If you … Read More
9 Powerful Ways That Philanthropy Can Help to Build Your Brand?
Being altruistic usually means putting the needs of others ahead of your own needs. So discussing how philanthropy can help to build your brand almost comes across as being hypocritical. But being generous and charitable doesn’t mean that you can’t beat your chest a little, especially when it comes to being good corporate citizens and leaders in your community. Here … Read More
No One Wakes Up and Suddenly Decides to Become Charitable One Day
In the past, I would never describe myself as being particularly charitable. It’s not that I wasn’t compassionate or I was completely selfish, but to be honest, I didn’t think that anything I contributed towards charity would make a meaningful difference. I wasn’t able to write a significant cheque. The other reason, there wasn’t a particular cause that I was … Read More
10 Ways to Build Wealth in Your Business To Fund Your Exit Strategy
Tips For Business Wealth Management Business owners work hard at perfecting their business to make a living, earn a profit and ultimately sell or transition the business to another group of owners or family members. At the end of the year, our income statements and balance sheets generally indicate whether we were successful. You work incredibly hard to streamline operations, … Read More
The Top 6 Things I Would’ve Done Differently with My First Business
Experience gives us knowledge. Unfortunately, this knowledge can come at a very hefty price. In the case of my Partners and me, it resulted in the bankruptcy of our office furniture business. We did a lot of things right and enjoyed great successes for most of the time I was an owner. We were never afraid of change. In fact, … Read More
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