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What’s Your Value Proposition?
What makes your business stand out from the competition? Is it your exceptional customer service? Your wide selection of products and services? Cost? Convenience? Ease of use? The truth is, potential clients won’t know about any of these benefits without a value proposition. Also sometimes called a “unique selling proposition or USP,” this simple statement is an integral branding tool that defines your company and more importantly, what makes it so special. And here’s how it works: Imagine you’re feeling...
read moreAre You At Risk of An Audit?
No taxpayer likes the idea of an audit but the truth is, there are some instances where it can’t be avoided. Routine audits aside however, the CRA also does what’s known as “red flag” audits, meaning that they target returns because of specific items. In general, the CRA has a process that analyzes all returns for correctness and consistency. They’ll compare your reported amounts with those reported by third parties, for example and they’ll match your numbers against allowable deductions. Returns then go...
read moreSimplify Your RecordKeeping
As a small business owner, you have to be a pro at multi-tasking. Not only do you have to handle sales and marketing, but you also must manage inventory, human resources and of course, bookkeeping. And while we can’t do much about your marketing strategy, there are some ways to simplify your record keeping. Follow these basic rules and you’ll find that managing your books is much, much easier: Keep Your Business and Personal Accounts Separate The number one rule for running a successful business is to separate it from your personal...
read moreDo You Tweet or Digg? You Should…
With all the hype social media has received, you’d think more small business owners would be on board. But surprisingly, there’s still a good number out there that don’t. Granted, about 75% of small business owners have a company page on a social networking site, according to a recent Small Business Success Index survey, but only 61% of those actually use social media for identifying and attracting new customers. That means that 40% of you are relying on a static profile page or worse, no profile at all. But the truth is,...
read moreNew Event – Keep More of What You Make!
The Accounting Store is proud to bring you a new seminar full of tax strategies to help your business save money. Book a seat on one of these two upcoming dates: February 16th or 28th. Be sure to indicate which date you want to attend in the comments section. Cost is $20 – all proceeds will be donated to the Greater Vancouver Food Bank. You can register by filling out this short form online or calling us at 604-420-4949.
read moreThe Pyramid of Wisdom
As a small-business owner, even the tiniest of decisions can have a big effect on your business. That’s probably the reason that most business owners try to base their decisions on the facts… and the facts alone. But sometimes, the facts just aren’t enough to make an informed decision. Sometimes, what you really need is wisdom. Now, wisdom doesn’t always come easy, that’s for sure. And ironically, you can’t have wisdom until you first have those facts – that data that defines a specific activity in raw...
read moreSimple Perks to Boost Morale
Making your company a great place to work is a key component of attracting the right kind of employee. Unfortunately, this often translates into “perks” and when the economy tanks, those perks are the first thing to go. But that doesn’t have to be the case. There are several ways to offer employees something extra without stepping outside your company’s tight budget. Throw A Party Employees love feeling appreciated, so throwing a regular gala to congratulate employees on a job well done or celebrate all the birthdays in...
read moreCommon Mistakes New Managers Make
One of the primary goals of small business owners is growth – we all dream of seeing our small venture evolve into a formidable enterprise that transcends time and even our own mortality. But to have that kind of growth, you’ll need more people and as many small business owners have discovered, managing others is not as simple as they thought. In fact, many business owners turned new managers find that managing others is a whole new ballgame… one that the existing business owners’ rulebook does not always address. Now,...
read moreGrowing Your Company With Goals
We’ve all heard the benefits of goal-setting in our personal lives. Having a few well-planned goals helps us achieve all those things on our never-ending to-do list. It’s how we formulate a strategy to pay off debt, buy a new house or lose those last stubborn twenty pounds that just won’t go away. In short, setting goals helps us become better people. So, given all the benefits, why wouldn’t we use this same strategy in our business as well? Yet, according to the Staples National Small Business Survey in 2010, we...
read moreUnderstanding Your Financial Reports
For many small businesses, financial analysis is limited to the Profit & Loss Statement (also know as the Income Statement) which compares the revenue and expenses over a specific period of time. If the P&L shows a profit, then the business owner celebrates and all is good in the world. But o positive bottom line on your P&L doesn’t necessarily mean positive cash flow and it certainly isn’t enough to fully understand your company’s performance. In his book, In The Black, author Allen Bostrom notes that...
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Latest Tweets
What’s Your Value Proposition?: What makes your business stand out from the competition? Is it your exceptional ... http://t.co/NExIRssh - posted on 02/04/2012 18:17:25- Are You At Risk of An Audit?: No taxpayer likes the idea of an audit but the truth is, there are some instances ... http://t.co/whYtYQSy - posted on 26/03/2012 18:14:11
- Simplify Your RecordKeeping: As a small business owner, you have to be a pro at multi-tasking. Here's some quick... http://t.co/az2MUkkz - posted on 23/03/2012 14:17:18
- March newsletter is up! - http://t.co/NFCOlfer - posted on 23/03/2012 13:24:18
- Do You Tweet or Digg? You Should…: With all the hype social media has received, you’d think more small business ... http://t.co/HgzZso4n - posted on 26/02/2012 18:34:24
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The Accounting Store
211 4240 Manor Street
Burnaby, BC V5G 1B2
604-420-4949
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