The challenge of choosing your child as your successor, is that not only is there the knowledge about the technicalities of your business to pass on. There is also the need to overcome the family communication dynamics. Be patient; be communicative and spend time with your child. It’s essential that you have ways of assessing […]
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In Canada, tax benefits and loopholes are getting more difficult to access. One of the last and few significant tax savings is from the principal residence exemption. CRA used to be quite lax about assessments for this exemption which is changing. The notes for my presentation today are attached. SynergyREN – The Principal Residence Exemption
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What are the rules? They are certainly those societal and other norms considered acceptable in normal human interactions. How can you take these rules and apply them to your business? You, the leader set the tone for the business, today and into the future. What is that tone? In 2008, greed and fear ruled wall […]
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Documentation. What do I mean by this? This is the collective knowledge all about your business: trade secrets, special supplier or customer relationships, secret recipes; all the things that are integral to why your business is successful. Your operational secrets, truly define your competitive advantage. This is not a document to be shared with everyone. […]
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Looking at your business from different perspectives can lead you to innovative thought and possibly a stronger business. You probably are aware of your three distinct roles in the business: 1. leader-employee, 2. family member, and 3. owner. In your daily interactions with your stakeholders, do you acknowledge and recognize that your decisions and goals […]
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