01-20-2016, 10:01 AM
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#41
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Dances with Wolves
Join Date: Jun 2006
Location: Section 304
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Quote:
Originally Posted by Winsor_Pilates
Stop listening to most people and surround yourself with a few people who really get it. Make these people your core group that you go to every time business struggles arise and you need advice.
Majority of people will not like you for stepping out of the "normal" 9-5 life and trying to start your own business.
For some reason, most people have a strange animosity towards you for breaking the mold.
Finding a mentor is a fantastic idea, but will depend on your business and contacts for where you do that.
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This was a surprising one for me. I was amazed how many people were borderline rude when I set out on my own. I don't think they actually meant to come off that way, but their "advice" and comments were wildly unhelpful.
Examples:
"I could never put my family through that much pressure."
"I just value my family time so much, I could never do that."
"I don't love my job, but at least I have security."
The interesting thing about this? Every comment came from somebody who hated their job. The people who had already done something similar? They would actually get excited when I told them, and they'd start yammering on like they just took a coke bump. Those are the people to listen to because they know even if you do fail, you'll learn a ton and likely will come out the other side much better.
I haven't been to any of these, but I'm hoping to in the future:
http://smallbiz.meetup.com/cities/ca/ab/calgary/
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01-20-2016, 10:15 AM
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#42
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Powerplay Quarterback
Join Date: Jan 2008
Location: Pigeon Lake
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As a small business owner I think a online accounting program is essential. Something that allows you to quickly due your office work and still make money doing what you do.
I find quickbooks online works great for this and they have good aps for it as well.
I find the most difficult thing in small business is balancing the work you are doing at the moment and still being able to collect for work you did in the past as well as plan for future work.
At the early stages of any small business you better be prepared to learn how to do many jobs that are taken care of for you in bigger business. Or have the finances to pay others to do these jobs.
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01-22-2016, 10:33 AM
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#43
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#1 Goaltender
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What is your motivation for going into business?
How are you at recognizing and managing your emotional state?
Do you know how to team build, delegate and coach?
__________________
Quote:
Originally Posted by Biff
If the NHL ever needs an enema, Edmonton is where they'll insert it.
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01-22-2016, 02:47 PM
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#44
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Franchise Player
Join Date: Jan 2010
Location: east van
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Quote:
Originally Posted by gladaki
Worst Advice, I ever heard. Startups are not easy but something everyone should aim for. Its not everyone cup of tea for sure, but unless
someone try it how will they know.
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There many things in life I'm sure are not for me even though I've never tried them. Call me close minded if you will but I'm sure im straight even though I've never been shagged by a dude.
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01-22-2016, 02:54 PM
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#45
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Franchise Player
Join Date: Jan 2010
Location: east van
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On a more serious note, under ideal conditions the vast majority of start ups fail and no one in their right mind would consider Alberta right now ideal.
I would think long and hard about starting a business at this point in time, particularly there, the markets are soft, the dollars lousy and there's no sign things are about to get better, unless your product takes advantage of people struggling, say bailiff or skip tracing, then now might not be an ideal time to start.
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01-22-2016, 05:58 PM
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#46
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Lifetime Suspension
Join Date: Sep 2005
Location: The Void between Darkness and Light
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Know your limits and try to avoid being consumed by Founders Syndrome if at all possible.
Even if you start to become very successful, Founders Syndrome is something you'll have to keep yourself aware at all times if you want to avoid having the same passion and enthusiasm that got the business off the ground end up killing the business in the end.
A clear organizational plan will help you avoid that pitfall, but you'll still have to consistently monitor yourself, "Is this the best usage of my time?"
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01-22-2016, 08:21 PM
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#47
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Franchise Player
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Quote:
Originally Posted by afc wimbledon
On a more serious note, under ideal conditions the vast majority of start ups fail and no one in their right mind would consider Alberta right now ideal.
I would think long and hard about starting a business at this point in time, particularly there, the markets are soft, the dollars lousy and there's no sign things are about to get better, unless your product takes advantage of people struggling, say bailiff or skip tracing, then now might not be an ideal time to start.
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If you're selling to a national or international market now is probably the best time in 15 years to start a business in Alberta.
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07-20-2016, 09:44 PM
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#48
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Powerplay Quarterback
Join Date: Aug 2002
Location: Mayor of McKenzie Towne
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Quote:
Originally Posted by firebug
You can also check out the Library, they have all sorts of books on business plans that you can borrow for free.
Key factor for you is funding... If you don't need to raise or borrow money a business plan isn't really necessary (it is very wise however).
I suspect the chamber of commerce and local entrepreneur groups will have some resources for you as well. Possibly talk to your lawyer, many of them will have lots of start-up experience and/or connections to those who do.
I've been working on a launch since september and am at the point now where any day we could have our first lease signed - it's pretty exciting.
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Okay, so any day has taken a bit longer than I expected, but I now have contracts in front of me for two retail spaces to launch in August (one in Edmonton and one in Mississauga). As such I'll be hiring a bunch of clerks/csrs over the next couple weeks.
Does anyone have any recommendations/experience with payroll service providers for small business? I know there is Ceridian and ADP but are there others worth checking out?
__________________
"Teach a man to reason, and he'll think for a lifetime"
~P^2
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07-20-2016, 09:56 PM
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#49
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Atomic Nerd
Join Date: Jul 2004
Location: Calgary
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I currently sustain a 60 hour a week full time professional job as well as spend about 25 hours a week on my 4 side ventures. I find that once you get into this mindset, you start to identify people with similar mindsets and goals and you soon fall into an entrepreneurial crowd with a wide swathe of experience, skills, abilities, and personalities but all of those things can be an amazing learning experience.
The first business I got into was a very rude awakening. I invested the most into that one and it's the one I'm probably going to lose the most on because I didn't know what I was doing. I didn't critically analyze the business plan the partners created to a gruelling enough degree. I didn't research the market. I didn't protect myself financially. I didn't have an exit clause, the legal agreements didn't favor me, etc. I can only really stomach the loss and consider it a good learning experience.
Since then, every new venture has been a positive learning experience even if soul-sucking at times...you also learn to suck it up when you look at the positives of additional revenue streams and lessons learned. You need to be very, very emotionally strong and not attached to your personal free time or social life and realize you will get those back one day and that can be an additional goal.
Mentorship can be difficult to find. Look at other successful entrepreneurs. Look to bank advisors, financial advisors, lawyers, etc. who have been involved in other start-ups. I am fortunate enough to now surround myself with those kinds of people and it's better to get good advice than to go in blind.
I just opened another company about a month ago and opened an account at ATB. ATB has a "Entrepreneurship Centre" on 17th avenue across from the Tim Hortons. They had a good business package and it looked like they had a lot of resources for someone starting out. That might be a good place to ask around.
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07-21-2016, 08:56 AM
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#50
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#1 Goaltender
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Quote:
Originally Posted by firebug
Okay, so any day has taken a bit longer than I expected, but I now have contracts in front of me for two retail spaces to launch in August (one in Edmonton and one in Mississauga). As such I'll be hiring a bunch of clerks/csrs over the next couple weeks.
Does anyone have any recommendations/experience with payroll service providers for small business? I know there is Ceridian and ADP but are there others worth checking out?
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I have seven employees currently and use quickbooks to do payroll. It is pretty good and fairly easy to use. Cost is something like $500 a year for the new tax tables.
I might only like it because it's one of the jobs my wife does for the business and I don't really have to do anything with it though.
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07-21-2016, 09:46 AM
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#51
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Powerplay Quarterback
Join Date: Feb 2011
Location: AB
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A vote for QB here too. Tried ADP but got horrible help and dropped them in a hurry.
Moved to RBC express for my payroll direct deposits and it was so much easier than dealing with ADP.
I know you never asked but look into online/app based schedulers. I've been using WhenIWork for my scheduling/time clock (15 employees) and absolutely love it. Creating a schedule is quick, keeping track of employees time cards simple and scheduling vacations much easier to track. I cannot remember the price off hand but well worth it.
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07-21-2016, 09:52 AM
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#52
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Depending on how many people you're dealing with and the level of complexity you can PM me.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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07-22-2016, 02:33 PM
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#53
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Atomic Nerd
Join Date: Jul 2004
Location: Calgary
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Yes, PM Locke
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01-05-2021, 10:03 AM
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#55
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Norm!
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Locke was a great help for me when I started up, I felt guilty when I was firing him questions though.
It depends on the type of business, but there are lots of good resources in Calgary. Startup Calgary and Platform Calgary for example. The Startup 101, marketing 101 and 102 are really good free courses. Also they give you access to networking.
It depends on the type of business you're starting. Are you building a new innovative or disruptive product? Are you offering a strictly services based business? Are you selling someone else's product?
A good business plan even if you're not looking for financing I think is essential so you're not flailing around or playing it by ear is important.
Anyways if you want to reach out to me, I deal with a lot of startups and might have resources that can be helpful.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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01-05-2021, 10:38 AM
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#56
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Powerplay Quarterback
Join Date: Mar 2006
Location: In my office...is it 5:00 yet???
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This thread may be as good a place to ask as any..... is anyone here able to recommend me a Legal Professional to set up a new corporation for a new business. Any Lawyers on CP practicing in this area?
I’m looking for a bit of advice along with the Corp. setups.
Also, after reading this thread not realizing it’s from 2016, I’m also curious for an update from the OP if they ever got the business going?
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01-05-2021, 10:42 AM
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#57
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Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Winebar Kensington
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My partner Arthur can help with corporate advice:
https://www.navigator.law/arthur
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01-05-2021, 02:49 PM
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#58
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Norm!
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On the accounting front, for simple business, Quick Books is excellent and not expensive. For me, because I'm billing work done and not doing a payroll, and not dealing with an inventory, I'm using Self Employed, and it takes me about 20 minutes at the start of the month do do all of my billings, receivables and transactions.
Quickbooks for Business should cover everything you need for a business if you have inventory and payroll considerations, and its still pretty cheap.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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01-05-2021, 02:53 PM
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#59
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Franchise Player
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If you PM Locke...hit him up for a helicopter ride...
__________________
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01-05-2021, 03:26 PM
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#60
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Norm!
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Wait what?
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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