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Tag: Advisory

Currency symbols surrounding a glowing ROI graphic, on the header image for a blog post about break-even analysis and return on investment
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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Sukhi Hansra January 31, 2024
A person writing on a glass wall covered in business diagrams, on the header image for a business tip about business planning
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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Sukhi Hansra December 13, 2023
An alarm clock beside a sticky note reading Tax, on the header image for an Ask Us Anything post about tax planning
Ask Us Anything

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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Sukhi Hansra December 8, 2023
A hand holding a phone with a Business Insurance graphic, on the header image for a business tip about insurance
Business Tips

The Importance of Insurance for a Business

What would happen to your business tomorrow if something went badly wrong today?

A fire, a lawsuit, a key person suddenly gone. Most business owners can’t answer that question, because insurance is the thing everyone buys and nobody reads.

Here’s the uncomfortable truth: the wrong coverage feels identical to the right coverage, right up until the claim. And by then the difference is the survival of the business.

This guide covers the types of insurance an Ontario business actually needs, what each one protects, and how to spot the gaps in the coverage you already have.

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Sukhi Hansra November 29, 2023
A hand-drawn organization chart on a dark background, on the header image for an Ask Us Anything post about directors, shareholders, and employees
Ask Us Anything

AMA – Directors vs. Shareholders vs. Employees

Directors, shareholders, employees. Do you know which hat you’re wearing right now?

In most small Ontario corporations, one person wears all three at once, and that’s exactly where the trouble starts, because each role carries different powers, different duties, and different personal risks.

The decisions you can make, the money you can take out, and the liability you’re exposed to all change depending on which hat is on your head when you act.

A reader asked us to untangle the three roles, so in this piece we do exactly that: who controls what, who owes duties to whom, and why the difference matters most when the corporation hits turbulence.

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Sukhi Hansra November 24, 2023
A magnifying glass held over a paper cutout figure, on the header image for a business tip about reducing employee turnover
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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Sukhi Hansra November 22, 2023

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

(416) 580-0345

Schedule a FREE discovery call before you sign your next deal, contract or agreement.

Most owners deal with the legal side only after something goes wrong. By that time, you could spend tens of thousands of dollars unwinding what a quick conversation could have prevented. It doesn’t have to be that way if you have the right lawyer in your corner!

  • We'll walk you through your legal problems in a straight-talking and open way.
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  • We'll prepare an Action Plan designed specifically with your goals in mind, which you can take with you even if you choose not to work with us.
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