This year I decided to shake things up in my Kelowna accounting firm and completely change the way I operate. Although I’ve worked as a Kelowna accountant for several years, most of my clients come to me for much more than tax advice and number crunching.
This became a strange juxtaposition when I realized that I was spending too much time buried in the numbers of my own business.
Break Routines That Don’t Model Growth
What happens to entrepreneurs is that over the years you continue to work in your business, work in your business and keep working in your… Continue reading
As entrepreneurs, we tend to look up to some of the greatest businesses out there for guidance or as a standard for where to place “the bar”. Walmart, Estee Lauder, IKEA…these are all enormous family dynasties that are sure to last several generations to come. The one dire question continues to plague all ambitious entrepreneurs alike: how can I build an empire with my business?
There is a special event coming up on December 5, 2012 in Kelowna, BC hosted by BDO and YOU are invited.
We are bringing in a bestselling author to provide an informative session… Continue reading
Kelowna accountant and business advisor Ken Davidson gives advice to entrepreneurs that are looking to move their businesses to Kelowna or the Okanagan Valley.
Depending on where you are moving from, there are a few things that are a bit unique about moving to the Okanagan, such as the costs associated with living here in Kelowna. It’s fairly well known that Kelowna isn’t the cheapest place in the country to live and that affects quite a few different factors.
1. Can You Build Your Team Here?
It’s possible that you may have a very successful business in one location… Continue reading
It’s important to continuously engage your customers and have as many touch points as possible. Find more ways to connect with your customers. For example companies that are engaging regularly with their customers using social media are seeing an increase in consumer loyalty.
3 Ways To Improve Customer Engagement
1. Embrace technology
You have to go where your clients are, so if that means getting with the digital… Continue reading
In Kelowna, so many people travel from all across the country to live here because it’s such a desirable location to settle down. In turn, we attract many entrepreneurs and prospective entrepreneurs that are constantly thinking about what type of business they can purchase in the beautiful Okanagan Valley.
I had a question come into me from a reader last week asking about what I recommend in the due diligence process when purchasing a business. I wanted to address this in my blog since it… Continue reading
This is an interesting topic because the definition of a “green company” is different for everyone and I think if you’re interested in a green company, you need to define your own definition of green. I truly believe this is extremely important because a lot of people are advertising and pushing their green status but the reality is many may not truly be “Green” depending upon your definition of it.
At the end of the day, you still have to run your business like a business, aka-making money, so you have… Continue reading
Kelowna, BC is one of the most desirable places to live in all of Canada. People from all across the country are regularly looking for an opportunity so they can move here. Most will come here and start a business or find an existing business to purchase.
The question I always get from my clients is “what is my business worth” or “how much should I pay for this business I am interesting in buying.” Let me start by saying I have certified business… Continue reading
Many Kelowna business owners ask me how much money they should draw from their company. I’ve seen many people before coming to me rack up hefty amounts of personal debt while putting their business at extreme risk and taking out more than it can sustain to maintain their lifestyle.
The bottom line is that if your business cannot support your lifestyle, then there needs to be… Continue reading
As a Kelowna business you may be experiencing some fierce competition with a small population to rely on for sales and revenue. The appeal of quickly establishing yourself in the market by pricing low can be quickly dispelled by the reality of its many downsides.
I do not personally believe price should be the primary factor that distinguishes you from your competition. Some industries don’t have a choice so it is inevitable that there will be a few exceptions.
How Are You Going To Be Different?
Differentiation is what you need to be working on. When I say differentiation, I’m… Continue reading