Today, More Than Enough tax specialist and coach Bron Vasic joins “Let’s Talk Money with Dave and Reb” to talk business strategy. When people are asking about tax strategies for business, Bron suggests the first focus points should be about making the business profitable, then entrepreneurs can learn best tax strategies based on their circumstances. Making a plan and being committed to the plan is essential, especially in today’s economic climate. Also important to the business journey, is talking with other business people about their successes and failures. Learning and gleaning from others is key to successful planning.
“It is important to get as much information as possible to create a business map,” Bron says. “And then decide what is going to be on that map.”
When people are starting out on the entrepreneurial path, it is important to recognize if your business idea is actually a business idea, or if it is simply a hobby.
“Hobbies cost time and money,” Dave says, “ Hobbies aren’t profitable, but a business is designed to make a profit, where you get a return on the investment of time and effort you have put into it.”
Tune in to hear their discussion. Today’s show is sponsored by More Than Enough Financial – a financial coaching, tax, and mortgage company empowering people to effectively manage their finances, while finding hope and financial freedom one day at a time. You can also listen to the financial fitness seminar led by Dave and Reb by going to these links: Financial Fitness Seminar link, or for a shorter version Debt Snowball Link. To order Reb’s e-book, audio book, or soft-cover copy of Cultivating Trust: Finding God’s Hope and Freedom for Your Finances, go to www.morethanenoughbooks.com or email info@morethanenough.ca, to arrange a pick-up from their Ottawa office.