When 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
Canada is a big country. One of the things I have always said when looking at purchasing real estate is to pick your area and pick it for the right reasons. Do I believe there are areas in Canada that are prone to issues or that I might personally have issues with? Absolutely.
Not everywhere in the country is going to offer lukewarm investment opportunities, even during a recession – you just have to dig a little deeper to find them.
There are certainly areas of concern for real estate investing within Canada but everyone has their own reasons for… Continue reading
When running a business, it’s natural to want to do everything the “right” way the including figuring out how much you should be paying yourself as the business owner. Kelowna accountants are not unique when it comes to being inundated with this same question from long time business owners and startups:
How much should entrepreneurs pay themselves?
When somebody asks me this question, the short and easy answer I always give is, you can’t take out more than the company makes because you are going to kill the business. In the long run, a business will always fail if too… Continue reading
Whether it is personal or for a corporation, you’re coming up to a specific date that (for tax purposes) makes a difference. It’s wise to be aware of how investments and purchases around this time can affect your bottom line so you can make the right decisions at the right time.
Pay attention to these four year-end tax tips and spare yourself the feeling of wishing you had acted when the time was right. After December 31, there is no going back.
1. Review Your Investments
The first thing you have to do is you have to look at… Continue reading
If you watch shows like Dragon’s Den and Shark Tank, then you will agree that those guys can be brutally honest when somebody comes in with a plan or a project that really needs to be shelved. Despite this, using their approach can often help you in tough times.
The best way to learn how to build your business is to talk to people in business. Entrepreneurs tend to be too close to their project and definitely emotionally attached. If your business is starting to fail, the odds are you don’t recognize it or you simply don’t want to… Continue reading
Part of answering this question requires defining greed itself. It really is a perception rather than the type of thing that has a consistent definition. Is it your understanding or lack of understanding on how to move your business forward that’s holding you back?
This really becomes the question because if you know what you’re doing and you are making the right decisions, your business will be moving forward.
Think of a piece of a pie for a second. Would you rather have 100% of no pie or 10-50% of good-sized piece of pie?
When I think about greed, I… Continue reading
There are seasonal businesses and there is the seasonality of businesses but either way, you really need to take the seasons into consideration or else you might start making bad business decisions. I’ll use Kelowna as an example…
In Kelowna, in the months of July and August, business is very difficult to move forward. There are a lot of people taking vacation or hosting those that use Kelowna as their vacation destination.… 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
Although we all want more referrals and clients, when the prospect of meeting a new contact for coffee comes up, we aren’t always jumping out of our seats to commit to an appointment immediately.
This is because of a few reasons:
- It takes time
- Time is money
- You don’t always know what the meeting is about
- The benefits of the meeting are not always immediately clear before it happens
Is it… Continue reading
Obviously right now the Bank of Canada thinks that Canadians are in too much debt and a lot of officials agree. There is a lot of discussion on the news about there being too much debt and that’s why there have been changes to the mortgages rules – the government’s attempt to control you from accumulating too much debt.
Basically everywhere you look right now, people are talking about debt.
So How Much Is Too Much?
The answer is that it’s not about debt, it’s about what you have debt for. You will hear people talk, especially accountants, about good… Continue reading