What Role Should Charity Have in the Sale of Your Business?

money management mistakes

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

The 8 Things You Can Do to Ensure Your Business Survives Divorce (#7 is just Nasty)

ensure your business survives a divorce

Since the beginning of COVID, a few business owners have asked me what measures they should take to divorce-proof their business. I think the more appropriate question is how to divorce-ready your business. Similar to the assets of a marriage, a company’s assets are considered mutually owned within a marriage. The complexity of a business can be far more challenging … Read More

How Do You Know if You are CRA’s Favourite Target?

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?

philanthropy can help 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

become charitable

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

The Top 6 Things I Would’ve Done Differently with My First Business

doing things differently

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