CASH IS KING!
In most businesses, you should be evaluating profitability on a regular basis. This is an extremely important measure. However, equally important, and critical is evaluating cash flow! During a fiscal year, you would be looking at profitability weekly or monthly, but daily you should be looking at whether you are generating enough cash to keep all operations going. As an example, be […]
When To Prepare For Selling A Business
A Succession Plan Although hard to imagine, someday you’ll want to, or need to, sell your business; maybe lack of interest or energy, age or unexpected failing health. You should start thinking about a sale from the day you incorporate. Having a succession plan is critical for an organized, orderly, successful sale. It creates certainty and […]
Leadership – Part 2
In last month’s blog (Leadership – Part 1), I identified four key traits great leaders possess; Authenticity, Empathy, Vision, and Resilience. My source of reference is from the book ‘Great Ted Talks – Leadership’ by Harriet Minter. As with the previous blog, I have ended each section with questions so you use as a planning tool for guiding your business.. This […]
Leadership part 1
LEADERSHIP -Part 1 For this newsletter, I turned to ‘Great Ted Talks – Leadership’ by Harriet Minter. In it, I identified four key traits that great leaders possess; Authenticity, Empathy, Vision and Resilience. My suggestion is you treat this as a workbook and use it as a planning tool for your upcoming year. The questions […]
NON-COMPETE AGREEMENTS… A NEW ONTARIO LEGISLATION
LEGISLATIVE CHANGES IN ONTARIO LIMIT THE USE OF NON-COMPETE PROVISIONS IN EMPLOYMENT AGREEMENTS The Province of Ontario has passed an amendment to the Employment Standards Act (ESA), effective December 2, 2021, which limits the use of non-compete clauses in employment agreements in the province. Historically non-compete clauses have been inserted by employers in employment contracts […]
Do I need a Business partner?
In our ASE Advisory meetings we often come across this comment from businesses we advice. “I need a partner”. Sometimes so frustrated is the client, that I believe they simply seek an accomplice they can blame. Other times the comment is valid. Work load excessive; Skill sets missing; such partners fill gaps in resources such […]
HIRING POST-PANDEMIC
HIRING POST-PANDEMIC In our July 2021 newsletter we addressed ‘when is the right time to hire’. As a follow up that this letter discusses the ability to determine the revised staffing needs and how to proceed after to the pandemic hiatus. Analysis The ultimate need for any additional staffing, remains a very specific consideration for […]
THE RIGHT TIME TO HIRE
THE RIGHT TIME TO HIRE Is your business so hectic that you can’t accept new orders or new clients? Or do you even have time to deliver what you’ve already promised? Should you expand the business but you just don’t have the time or energy? Do you just hate doing some parts of the business […]
Developing Vision, Mission and Core -Value Statements
Developing Vision, Mission and Core -Value Statements -November2020 Newsletter To inspire an organization and bind it together with purpose and direction, business managements have developed purpose statements. They may be labeled differently in different institutions, however in this letter we will continue to call them by their most traditional names: Vision, Mission, and Value Statements. […]
Considering your business exit strategy
Considering Your Business’ Exit Strategy Over time you have nurtured your business like a parent nurtures a baby. It is your life’s work and may even be your identity. How do you sell it and get others to see its value? This is a tough transition and sometimes a rude realization. Preparing to sell a […]