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One Way To Decide When To Sell

How do you know the right time to sell your company? One answer to thisage-old question is that the time to sell is when someone else is willing toinvest more in your business than you are.When you start a business, nobody is willing to invest in its success morethan you. You’ve already worked a 40-hour week by Wednesday and, ifyou’re like most founders, you’ve invested a big chunk of your liquid assetsto get your business going.You’re all in.In the early days, you are willing to risk yo...

September 23, 2021

3 Ways to Flip Repeat Customers into Subscribers

Repeat business drives the value of your company, and you can categorize these sales into one of two buckets: Re-occurring revenue comes from customers who purchase from your sporadically. They’re satisfied with what you offer, and they buy regularly yet not according to a specific timeline.Recurring revenue is predictable, and you get it from customers who buy on a cadence. Usually, in the form of subscription or contract revenue, the main difference is your recurring revenue comes in on a re...

September 16, 2021

The Most Critical Factor in Achieving Your Goals May Surprise You

As we roll into the fall, you may be starting to consider your business goals for the rest of the year and next year. Given how 2021 has gone, maybe your primary ambition is to survive. Perhaps you’re going to create a recurring revenue stream or finally hire that general manager. Or maybe you’ve decided to start preparing for an exit. Whatever your goals are, the most important thing you can do now is write down your plan to achieve them.    A Revealing Study This point was ...

September 9, 2021

The Hidden Danger of Cross-Selling

You've likely heard the adage that it is far easier to cross-sell an existing customer a new product than it is to find a new customer. And if your goal is to grow at all costs, then cross-selling makes sense.  However, all of that sales growth may not do much for the value of your company. If you cross-sell your existing customers too much stuff, it could make your business far less valuable. When you cross-sell a customer so many things that they begin to account for more than 15–30% of...

September 2, 2021

Why the Future of Your Business Is Critical to Its Value

As a business owner, you’re likely proud of the results you’ve achieved in the past, but when it comes to the value of your business, your future is critical. That’s why your growth potential is one of eight factors that drive the value of your business. One metric that acquirers may use to evaluate your growth potential is your revenue per employee. Alphabet (Google’s parent company) generates around $1.3 million in revenue per employee. Compare that to the advertising agency WPP G...

August 19, 2021

3 Ways to Get Your Life Back

How’s your workload these days? If the pandemic has forced you back into the weeds of yourbusiness, you’re not alone. Many owners are again doing tasks they haven’t donein years because they have had to lay off front-line staff or their employeeshave fallen ill or are caring for someone in need. Being back in the middle of things is neither healthy for you noryour business long term. Personally, it’s a recipe for burnout, andprofessionally, your business will be less valuable with you do...

August 12, 2021

4 Reasons Why It’s Better to Own a Big Chunk of a Small Company

Is it better to own a big chunk of a small business or a minority stake in a big company?  It’s one of the fundamental questions all owners must wrestle with. Owning a relatively small slice of a big pie has worked out well for both Elon Musk and Jeff Bezos, who recently traded places on the list of the world’s richest person. Musk still owns around 20% of Tesla, and Bezos controls about 10% of Amazon, so they both have chosen to sell most of their company to fund their ambitions. The s...

July 28, 2021

3 Things Wealthy Business Owners Do Differently

Much is made of analyzing the personality traits of successful entrepreneurs.  Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are monk-like with their money. Their diversity can lead one to the conclusion that there are no common personality traits among successful founders.  Rather than trying to understand who they are, let’s look at what they do.   1. They read business books. Our most successful customers are vora...

July 22, 2021

3 Things to Consider When You Hit “The Freedom Point”

When was the last time you calculated the percentage of your net worth tied to your company’s value?  When you started your business, its value was probably negligible. Unless you purchased or inherited your company, it wasn’t worth much when you opened yourdoors, but over time, the proportion of your assets tied to your business may have crept up. Let’s imagine a hypothetical business owner named Tim, who starts his company at age 30. He has a little bit of equity in his first home a...

June 24, 2021

Response to COVID-19

COVID-19 Measures at R. Tisi Professional Corporation In light of the global COVID-19 pandemic and the excellent work of those who are trying to keep us all safe at this time, we have developed procedures so that clients and colleagues can continue to interact with us.  We have been deemed an essential service by the Government of Ontario and we will continue to operate for as long as we are permitted to serve our clients. We are maintaining normal office hours of Monday to Friday from 9:00...

March 24, 2020

Grow Your Business, October, 2019

This prior edition of "Grow Your Business" contains valuable information that we thought you would benefit from on: The Gig EconomyThe Power of a Powerful CRMTransparency in the workplaceData Breaches and how to handle one Enjoy!...

December 20, 2019

Grow Your Business, November, 2019

We are pleased to initiate our monthly feature entitled "Grow Your Business".  Each month we will feature a few items of interest to the small business community.  These articles will be opportunities to reflect on some of the aspects of your business that are available for improvement.  Please feel free to comment or contact us if you find anything that you would like some help with....

December 18, 2019

Payments to shareholders of Canadian controlled private corporations

There are volumes of business literature on the subject of payments to shareholders because it is indeed complex.  The primary consideration for the design and implementation of a payment strategy in Canada is the Income Tax Act.  It should be noted that these comments are very general in nature and are prepared as a starting point for you to consult your tax and accounting professionals for assistance and specific recommendations. There are 3 types of payments that can be made to the ...

December 12, 2019 Posts 1-13 of 13 | Page
 

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