Client Relations

Update to Business to Wealth

Hi

It’s Myles from Business to Wealth.  I will be discussing many topics here, but the main one is – How do I get my Business to Support Me – Instead of Me Supporting It?

It is possible, and we will discuss the steps it takes to transition your business to support your lifestyle.

I have been a business insider for years, in that I own my own business, and more importantly, have helped and created a business plan for many of the top business owners in my city.

I will cover many topics like the different savings plans available, how much money it takes to retire, business transition strategies (you need to start now for them to work), personal insurance and business insurance to protect you and your family while you are building your assets.

The first post will be on Tax Free Savings Accounts (TFSA).  I am really excited about the possibilities of Canadians being able to save money in high growth accounts, and never paying a penny of tax – ever.  At first these plans where great, but limited.  But now – if you have not started yet, you can contribute over $50,000.  You and your spouse can have $100,000 growing tax free forever.  How great is that?  With growth these TFSAs can cover much of your retirement lifestyle.

I generally recommend TFSAs before RRSPs, although every situation needs to be looked at on its merits.  It is true that you get an initial tax break with registered retirement savings plans, but the tax bite at the end by revenue Canada can ruin your plans.  With tax free savings plans you will never remember that you didn’t get a small deduction at the beginning, when you are making big tax free withdrawals twenty years later.

This was really brought home to me lately when a single father client died of a heart attack with young adult children.  He had $600,000 in his RRSP, and before that money can be distributed, Revenue Canada will swoop in and take about $250,000, leaving just over $300,000 for his children.  How does that sound?

So one of our first Business to Wealth strategy is to pay yourself first – and put that money into a high growth TFSA!

Talk to you soon.

 

Myles

Making Live Connections on Linkedin

6 Steps for Networking and Making Live Connections on Linkedin

LinkedIn can be used for more than passively waiting for people to respond to your profile. If you don’t take an active role in managing and promoting your account, chances are not much will happen. Here are 6 steps for networking and making live connections on linked.

1. Make sure your profile is complete and compelling. This means filling out all the sections and having a decent profile picture. Any picture is better than not having any at all, but try to have a good professional looking photo that shows you to your best advantage. The more institutions that you list that you are or have been associated with, the more people will be able to find you who where also associated with those institutions.
Although your profile will list your accomplishments, it should be focused on the reader, and what your unique value proposition is. You proposition should state how you will help a prospect with your knowledge, experience and processes. A prospect is not interested in who you are, until they know how you can help them.

2. Remember that Linkedin is social media first and foremost. People want to be engaged, spend some time browsing online, and have a conversation. They are there for business and to pursue their goals, but they need to have a chance to get to know people. Nothing will turn off members sooner, or cause them to block then you a “hard sell,” or appearing so often in their timeline it seems like you are stalking them. Keep it light and social. Contribute value and prospects will be happy to interact with you.

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Top Tips From The Worlds Experts In Developing And Sustaining Good Client Relations

When a business wishes to be successful and gain a large following, it is vital for the people in charge to think about creating and sustaining customer relationships. Relationships help a business last for a long time. Such a benefit also ensures that the business may gain a positive reputation on the Internet and around the local community. The information below may help a business in the long run.

1. Create a Social Media Account

If a business wishes to stand out from the competition, it is a good idea to create social media accounts. Social media websites play a significant role on the Internet. People use these websites in order to talk to loved ones or learn

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