FATAL MISTAKES? You Must Absolutely, Positively Eliminate From Your Business Right NOW! Here is part 3 of our 5 part series. If you have not read parts 1 and 2, please read those blogs first. Marketing Mistake #2 Not Having A Unique Selling Proposition (USP) This will knock your socks off..... This is by far the most common Marketing Mistake people make. Let us explain?USP is the one thing that differentiates your business from your competitors in the minds of your customers and prospects. The USP is what makes the difference between having a truly outstanding business or merely a good one, or worse still, a poor one. Occasionally the USP already exists in your business ? you just need to discover it and then articulate it in a way that makes you stand out from the crowd. However, in most cases the USP has to be created, often out of ?thin air?. We can?t stress enough how important this is to you. How can you expect your customers to be able to choose you, over and above any of your competitors, if the customers can?t quickly see what it is you do that is so unique and beneficial to them? Outstanding businesses have been founded on a USP alone. For example, here's a very well known USP? "Red hot pizza delivered to your door in 30 minutes or less - guaranteed." Tom Monahan of Domino?s Pizza created one of the most successful fast-food franchises in the world from the strength of this USP. So did Fred Smith of FedEx (?When it absolutely positively has to be there overnight ? FedEx?).
FATAL MISTAKES? You Must Absolutely, Positively Eliminate From Your Business Right NOW! Here is part 2 of our 5 part series. If you have not read part 1, please read that blog first. Financial Mistake #7 Failing To Account For Regular Expenses Every business should know when it is due to pay its wages, rent, tax and HST and also have a good idea of how much they are going to be. But when it comes time to pay them, they are often the expenses which many business owners simply don?t have the cash flow for, and it?s these expenses which cause many businesses to go under. The reason is partly understandable as these tend to be big bills but it is often a symptom of an internal problem as the business fails to account for them. A cash flow forecast is a fundamental management tool for a business. It is the means by which future bills can be factored into current decisions and help to avoid spending money that ought to be allocated for other uses.
FATAL MISTAKES? You Must Absolutely, Positively Eliminate From Your Business Right NOW! We see it every day. People making these fatal mistakes. And even if they?re not fatal, they are having a massive detrimental effect on a business. It's not that the business owners are doing it on purpose. Of course not. It?s just that these Financial & Marketing Mistakes are being adopted because people simply don't realize that what they're doing is having a catastrophic effect on their businesses. Call it ignorance. Call it lack of knowledge. Lack of professional guidance. Call it what you like. The point is that almost every business is wasting hundreds of thousands of dollars because they?re making these mistakes ? without even knowing it! Statistics tell us that 80% of businesses go bust during the first five years. And of those that remain, 80% will not be in business ten years from when they started. That?s a scary but true statistic ? especially when you think these figures don?t include the current difficult economic conditions!
The 2019 Halton Hills International Women?s Day Retreat event was hosted by the Halton Hills Women in Business (Halton Hills Chamber of Commerce). The event took place at the Stone Edge Estate Bed & Breakfast in Georgetown on March 8, 2019. GBA LLP Chartered Professional Accountants team members were pleased to attend and share our knowledge about Cloud Based Accounting solutions and give away some cool swag to the many women entrepreneurs in attendance.
March and April is often a very stressful time for most Canadians. Generally, it is the time of year that we all dread ? preparing our taxes. At GBA, we help thousands of people file their taxes every year, and every year, we get numerous call from our clients often in a panic, asking us questions about messages that they have already received from the Canada Revenue Agency (CRA). Therefore, we thought this would be a good time to address some of the usual questions about scams vs real CRA agents.