Kelowna accounting firm

How To Scale Great Service As Your Business Grows

scale great serviceMost businesses start off being run by tight knit teams led by the owners. With a high dependency on the owners, maintaining the level of great client service that comes with this business model can be difficult to maintain as the company grows. It’s important to maintain the level of service your clients have become accustomed to but how do you do that when you’re no longer the one on the front lines?

It makes sense that the owner starts off running the service end of the business in the beginning because they have lots of time on their hands.… Continue reading

What To Say When A Client Wants Free Consulting

debtI was recently called in to one of my partners’ offices that needed advice on a client issue. He received an email from one of his clients saying they wanted advice on something…but they didn’t want to be billed for it.

When I asked him what type of client this person was, he then told me that they were a D-level client.

My opinion? It’s time to fire the client.

Free Advice Isn’t Worth Paying For

It’s different when someone is a friend or family but if not, you should know that you’re getting your advice from someone that… Continue reading

How To Make More Money Without Selling More Product

kelowna accountantWhen we start to talk about making more money without selling more products, there is a suggestion that comes up too often that I fundamentally disagree with: it’s time to cut back expenses!

For better or worse, I generally make the initial assumption that people are operating their businesses efficiently, but that’s obviously not always the case. Running your business efficiently means you aren’t overstaffed and you aren’t out spending money on things that you shouldn’t be that directly affects the bottom line.

Be Realistic

The main issue I have with that analysis is that it’s very difficult to increase… Continue reading

5 Smarter Ways To Give Employees Incentive

kelowna accountantI believe that as entrepreneurs, it is our responsibility to help our employees succeed. I don’t necessarily mean giving away the bank but that tends to be the first thing that comes to everybody’s mind. Yes, everybody would like to make a little more money but realistically, everyone has their own goals that may or not be related to making more money.

Finding out what your employee’s value and them providing them with the right incentives will make your success their success. When that happens, the sky is the limit.

1. Get To Know Your Employees

Depending on the size… Continue reading

3 Preventative Cures For Underperforming Employees

combating underperformanceJust like the doctor says, the best cure is always prevention. In my experience I find that most problems with employees comes down to issues with communication and misunderstanding their function within the organization.

Here are the top three cures for combating underperformance before it becomes a problem.

1. Have a Clear Job Description

One of the things we do here at BDO is we try to ensure our staff have a clear, defined role instead of various duties or tasks. We clearly define the scope of their employment because that is where we find people can fall down and… Continue reading

10 Vital Signs To Ensure The Health of Your Business

kelowna accountantIn today’s world, business owners face challenges and opportunities on a daily basis and as a Kelowna accountant, I’ve found that most entrepreneurs really need to just focus on their business. Sometimes it’s important to bring it back to the basics so I’ve laid out what I believe are the top 10 most important points when ensuring the health of your business.

1. Understand YOUR business

We talk about business owners that don’t understand their business and think it’s something else. You need to get to know what your business is, understand it and focus on it. Making sure that… Continue reading

8 Steps To Making Your Business Growth-Friendly

real estate investingThinking big is important but when your business is just getting started, it can be easy to forget to implement processes that will help you grow later on. Even if you’ve already been in business a while, it’s not too late to start making your business more growth-friendly.

Here are 8 ways to get you moving in the right direction:

1. Review your renumeration strategies

When discussing renumeration strategies we need to look at things such as whether dividends or salary should be paid and how your share structure is setup. Don’t just let your strategy follow what you did… Continue reading

Selling Your Home – For Sale By Owner? Think Again.

for sale by ownerI personally believe that there are professionals out there to do most jobs. I think that if you really want to become a professional real estate agent, then considering selling your home For Sale By Owner is a good idea. If you are just dabbling and considering doing a For Sale By Owner situation, then you’re forgetting who you are in your profession.

You’ve got to understand why you’re doing it.

The reason I hear of people wanting to do For Sale By Owner is because it’s “cheaper”. Doing your own tax returns is cheaper too but I don’t recommend… Continue reading

Good Stress Vs. Bad Stress & Why It’s Good To Have Both

stick figure business man wearing suit slouched over the word stressEverybody is stressed these days. Whether it’s personal stress or business stress…we’re all feeling it. This is especially true when you’re by yourself in business!

A frequent problem I witness is that a lot of entrepreneurs don’t have outlets to relieve their pent up stress. I’m not a psychologist but we’re always going to have stress…my belief is that it’s about having the right amount and the right kind of stress.

We just finished wrapping up what is the busiest part of the year in my industry and the perception from those around me can sometimes be that things… Continue reading

Surviving The Post-Christmas Sales Slump

kelowna accountantWhen you think about what’s going to happen after the holiday season, everybody talks about January and February being generally slower months. It takes people a little while to get “back in the saddle” when it comes to spending money again.

What Opportunities Are Available?

This is really the time you have to dig deep into your business. When you really think about it – when is the right time to move your business to the next level? It’s when you actually have time to do it.

When I think about January and February, I think about people getting upset… Continue reading

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