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Tag: Advisory

Business Tips

How To Calculate Your Break-Even Points and Return On Investment When Purchasing A Business.

Ever felt like investing is a bit of a gamble?

Whether it’s playing the stock market or diving into real estate, it’s like a strategic game. But here’s the twist – buying a business is often overlooked as the ultimate challenge. 🏢💼

If you’ve ever wondered how to decode the ROI puzzle in business, I’ve got you covered!

Check out our latest Business Tip of the Week for a simplified guide. Let’s turn your business investment into a winning game plan! 🚀📈

#BusinessInvestment #ROI #GameChanger #BusinessAcquisition #InvestmentStrategy #SmartMoves

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Business Tips

Successful Business Planning for Entrepreneurs and Small Businesses: A How To Guide

I heard what I think is one of the greatest quotes ever recently: “December is like the weekend of the year… You wake up hungover, full of cheese, 10 lbs heavier and wondering what the hell happened from January to November” (I’m paraphrasing but thanks, Adam Williams).

So… how was your year?

• Did you get accomplished what you wanted to accomplish?

• Did you reach your goals in your business?

• Did you grow your revenue like you planned you would?

• Or… did it all coming falling apart like big stack of Jenga tiles?

If you didn’t hit your goals, I probably got a good idea as to why.

Dive into our latest Business Tip to uncover why business planning is your secret weapon for goal-crushing success! 📈✨ 🚀

#BusinessSuccess #GoalCrusher #StrategicPlanning #Entrepreneurship #BusinessPlanning

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When is the right time to start tax planning in your business?

Crafting an effective tax strategy may not be the flashiest part of managing a business, but it’s undeniably one of the most critical.

So, when should you start planning your business tax strategy?

Well, the simple answer is: yesterday!

Most business owners think they need to be of a certain size to start planning for taxed and executing on complex and strategic tax planning.

However, I can promise you that even the smallest business can benefit from some simple tax strategy – and the benefit is that you get to keep more money in your pocket earlier!

The ideal time to kickstart your tax strategy isn’t linked to hitting a specific revenue or profit milestone; it’s about getting in the game from the very inception of your business journey. Whether you’re a start-up or a seasoned player, being proactive with your tax planning is your secret sauce for financial success.

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Business Tips

How to Reduce Employee Turnover In Your Business

Are you struggling with high turnover in your business?

It’s a problem that impacts a lot of business… and it’s a costly problem at that as well!

According to some studies, the cost of replacing an individual employee can range from half to twice the employee’s annual salary. For C-level positions, the cost can go up to 213% of their yearly salary.  

Indirect costs, which are due to the impact on productivity and morale, account for two-thirds of the total cost of retention. These statistics highlight the importance of effective employee retention strategies. 

So how do you reduce the chances of employee turnover in your business? 

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Hansra Law We help business owners reduce uncertainty and rapidly grow their business

Schedule a FREE discovery call to discuss how we can help launch and grow your business

About 20% of small businesses in Canada fail within their very first year. But it doesn’t have to be that way if you have the right business and legal guidance.