Are You Serious About the Success of Your Business?
As a new businesses owner, you're primarily concerned with sales and delivery. Granted, without these things, you won't have a business at all. However, there's more to running a successful business than the day-to-day operations; it's also important to start with the end in mind. So, even though accounting and tax aren't obvious tasks to think about when planning the future of your business, they are key to its long term success.
At this point, you might be thinking: This stuff can't be as pressing as building my business. What could possibly go wrong if I ignore it for awhile?
Here's the scenario we often see (from real clients):
Mr. Entrepreneur has a great idea. He's awesome at closing deals and he treats his customers well. He focuses on the things that make money and doesn't think too much about accounting or tax. He'll figure it out when it becomes a problem.
Unfortunately, it does become a problem.
Perhaps he has a falling out with his business partners and, because of the way he structured his business at the beginning, it becomes very expensive to separate from them. Perhaps he's really busy, but never has the cash he needs to grow his business. Or, he doesn't understand his tax obligations, ignores them and he wakes up one day to find that Canada Revenue Agency has frozen his bank accounts...
Of course, these are worst-case scenarios. Most small business owners manage to limp along without the worst happening and, conversely, without the best happening. If you're serious about owning a successful business, then you need to be serious about accounting and tax. That's where we come in.
Start Up Mentorship Program
We know that starting a business is time-consuming and you need to devote your effort to actions that will generate sales. That's why we've created this package to guide you through the early stages of setting up your business, instead of you spending precious time trying to deal with it yourself.
During our three weekly calls we will help you:
- Review your business goals
- Understand types of tax accounts and which ones you need to set up
- Selecting a year end
- Choose a compensation structure (ie. Salary vs. dividends)
- Understand your tax obligations
- Choose an accounting software
- Choose other business apps
- Understand business best practices
- Use your financial information
At the end of the program you will have:
- Set-up your tax accounts and obtained a business number
- Chosen a cloud accounting service provider and related business apps
- Gained an understanding of your tax obligations
- A Summary Report of your tax due dates, filing deadlines and other key points to remember