How to plan for seasonal variances in your cash flow

How to plan for seasonal variances in your cash flow

Have you noticed unexpected seasonal variances in your company’s cash flow? If your business is seasonally-based (a lawn care or snow removal company, for example), it’s normal for your cash flow to vary depending on the time of year. Unfortunately, many companies who shouldn’t be affected by the seasons still experience peaks and valleys in […]

How to avoid being penalized by the CRA

How to avoid being penalized by the CRA

Owing taxes is bad enough (and unfortunately an inevitable part of doing business), but being penalized by the Canadian Revenue Agency (CRA) and having to make additional payments definitely makes your financial pain even worse. So, how do you avoid paying the CRA more than necessary? It’s simple: don’t be late. When it comes to […]

Why it’s important to regularly review your sales process

Why it’s important to regularly review your sales process

When did you last review your company’s sales process? If you have to think about the answer, it’s been too long. When business is booming and sales are high, we know that it’s easy to get wrapped up in your success and to not take the time to stop and reflect. Nonetheless, it’s very important […]

Why you don’t need video

Why you don’t need video

Why you don’t need video on your B2B website Video is king when it comes to website content…right? You’ve no doubt heard the popular rhetoric that video is an essential part of your online presence, but we’re here to burst that bubble because we think that’s not necessarily true. While videos can definitely be a […]

Rock your networking social event

Rock your networking social event

Our top tips for rocking your next networking social event (part 2) While these hot summer days might make you tempted to take a long vacation and ignore any non-essential work, don’t slack on your business development activities. In today’s competitive business environment, building and maintaining relationships is essential, and networking is the best low-cost […]

Bookkeeping vs. accounting: What’s the difference?

Bookkeeping vs. accounting: What’s the difference?

Bookkeeping vs accounting If bookkeepers and accountants are both responsible for dealing with your business’s finances, do you need to have both on your team? The simple answer is yes, you definitely need both. While bookkeeping vs accounting may seem like the same profession because they both deal with financial data and require basic accounting […]

Common cash flow problems and how to fix them

Common cash flow problems and how to fix them

Common cash flow problems and how to fix them Are you frequently finding that your business is suffering from large gaps in cash flow? Cash flow is the money that flows in and out of your business, and if you’re having trouble managing your fixed expenses and paying your bills each month, your money likely […]

How to manage work-in-progress

How to manage work-in-progress

How to manage a work-in-progress project from a financial perspective If your business is regularly hired to complete lengthy projects for clients that you don’t bill for until the project’s completion, you’re likely finding that you’re suffering from large gaps in cash flow. This can be particularly problematic when you’re trying to manage your fixed […]

Sneaky ways to build your mailing list

Sneaky ways to build your mailing list

Four clever and sneaky ways to build your business’ mailing list A strong mailing list filled with active, interested customers is essential to support your company’s marketing efforts – what’s the point in writing a captivating, informative email if you don’t have a robust customer base clicking through to read it? Unfortunately, building a mailing […]

What to include in your B2B marketing plan

What to include in your B2B marketing plan

What to include (and what not to include!) in your B2B marketing plan From social media and blogging, to networking and advertising, there are an overwhelming number of ways you could spend your business’ marketing dollars. Unstructured marketing makes your business look unprofessional, so it’s important to develop a solid strategy. Here are the most […]

Top 3 reasons to rebrand

Top 3 reasons to rebrand

Top 3 reasons why you need to rebrand If you think rebranding your business means simply designing a new logo and refreshing your site’s colour palette, you need to think again and think much bigger. While visuals are definitely a main component of any brand, rebranding is primarily about repositioning yourself in the marketplace to […]

B2B lead generation strategies that actually work

B2B lead generation strategies that actually work

When it comes to B2B lead generation, what is the most effective (and cost-effective) way to benefit your bottom line? Before we answer that, it’s important to understand what lead generation actually is and how it has changed over the years. Lead generation is the process your business goes through to identify potential prospects and […]

The 1-2-3’s of payroll for small businesses

The 1-2-3’s of payroll for small businesses

An effective way of growing your business is through building strategic alliances. It’s a smart solution to expand your reach without a lot extra overhead, but as your small business grows larger, there comes a time when you may need more than strategic alliances. You may need employees. And hiring employees means managing payroll. While […]

Is your business making as much as you think it is?

Is your business making as much as you think it is?

Do you know the biggest financial mistake made by business owners? No, it’s not avoiding the CRA or failing to file taxes on time (although that’s a good way to raise a red flag with the CRA). It’s the very simple act of only looking at the bank balance. Too often, business owners measure their […]

The three steps of networking

The three steps of networking

Networking is an essential part of every successful business plan. Without networking, how are you going to meet the new people who could potentially become new clients? Sure, your business may receive the odd referral from an existing client after a job well done, but those type of word-of-month referrals certainly aren’t a sustainable way […]

How to know if your business needs to file U.S. taxes?

How to know if your business needs to file U.S. taxes?

Whether you want to think about it or not, tax time is coming — soon. And over the years, we’ve spent some time writing on the high cost of filing your business taxes late, on how to avoid a tax audit and (gulp) tips for surviving a CRA audit. Each one of these blogs focused […]

What is a minute book and why does my business need one?

What is a minute book and why does my business need one?

Have you incorporated your business? If your answer is yes, then our next question is: do you have a minute book? And if you can answer yes to that one, then our final question: is it up-to-date? Many of the business owners we at Smart Foundations work with can easily answer the first question but […]

Outsourcing adds capabilities without a lot of overhead

Outsourcing adds capabilities without a lot of overhead

As a small business owner, what do you do every year at tax time? Other than maybe panic, you likely call up your accountant to make sure that your taxes are filed on time. What you very likely don’t do is take the time to do them yourself nor do you have an employee dedicated […]

Have a seasonal business? Make it year-round profitable

Have a seasonal business? Make it year-round profitable

For most seasonal businesses, it’s all about the peak season. During those months, whatever months they may be, business booms, the days may be long and there’s more than enough work to go around. But what happens to that seasonal business when the off-season arrives? And that’s the challenge that many owners of seasonal businesses […]

How to market your niche business

How to market your niche business

What does a vegan bakery, a clothing store for transgender women, and an unfinished wood furniture retailer have in common? No, they’re not all Smart Foundations’ clients (although two of them have been) and, no, it’s not a set up for a bad joke. They’re all successful niche businesses. If your business is in a […]