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Fear. A horrible feeling so many of us dread. It can be so crippling to the point of us no longer continuing what we are doing. It can cause us to second guess our actions and even steer us in another direction that may not be right for us. We can have the fear of not completing a job on time. Or maybe its standing in front of a crowd and speaking. What about changes being made within your business. So many scenarios can cause us to fear what it is we need to do and accomplish. It’s what we do with our fears that will define us and our business.

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The best way to get over your fears is to understand that so often they are untrue. Your fears are fabricated in your mind over a certain circumstance or event. Breaking down the feeling matched to the task you have a fear over is going to help push you through. Within your business there are always going to be things you fear. Will I succeed? Will my product/service be well liked? Should I change or add to my business? Whatever it is that gives you fear turn it into a challenge. Take that feeling and push back. So often that fear can bring us over that mountain and turn whatever it is into success.

Working from home. The thought can be so exciting and many dream about having such an opportunity. Wake up when you feel like it, stay in your pajamas all day, eat and drink when you want to, take breaks when you decide, the list can go on… AND unfortunately the reality of it all is that it is the hardest way to work.  Working your business from home comes with many different challenges. You need to stay focused and on task with the numerous distractions that may come about. There needs to be discipline and strict planning. Reason being without that it can be difficult to accomplish the things you need to have done.

One of the toughest challenges you can face from working at home is alienation. You don’t have the opportunities to be around others as often. Because of this we can begin to turn to wearing pajamas, not getting up in the morning and becoming slow. This may seem fine at the beginning until you find yourself in a funk. I’m sure we have all been there when we question what it is we are doing. Is my work worth it? Why am I doing this? You can enter into this toxic mental game where you begin fighting with yourself. Feeling like you have to force yourself to get your work done. Staring at a screen but unable to read and comprehend what it is your working on. This is a true struggle in working at home so we need to take steps to reduce that sort of outcome.

• Set an alarm. Getting yourself up at the same time everyday will help keep you on a schedule. Act as if you are heading out the door. Get yourself ready for the day. Not only will this help with motivation but it also makes you feel better.
• Have a schedule. Plan your days out so you have set things to accomplish. Without having your goals it can become harder to complete things.
• Create a goal board. Using pictures, words and quotes that relate to you and what you are doing can help keep you motivated.
• Join a center that you can work out of once a week. This gives you something to look forward to and gets you out of the house. For example doing some work out of a library. This can aid in your moral in being around other people.

This is only a handful of ideas that can help keep you staying on the right path towards your goals while being at home. You need to find a system that works best for you. We all have something that motivates us. Maybe it’s a good book at the end of your work day or that chocolate bar in your cupboard. Whatever it is use it to your advantage and keep pressing forwards in your business.

“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.”(Richard Branson). There is a great truth to this statement on the ground of needing to look out for and care for our employees. Whether there is 1 or 25, it is our job to ensure they can give their all in the workplace. One way we can do this is by setting up some sort of benefits package for your employees.

The thought of offering benefits can seem impossible at first but there are many different options available and the gain can be tremendous. When you think about company moral we need to envision removing avoidable stressors. Having employees worried about their health and costs affiliated with that can have that negative affect. Finding something that works for the majority and within your means can be a huge deal breaker. Even competitively speaking, a good employee will choose a company that offers benefits in comparison to a like minded company without one.

The cost can be the biggest factor for small businesses. The good news is that there are ways of bringing the costs of employee benefits down. First of all having benefits is a way of keeping wages slightly lower. If you are covering some of the costs, it can be compensated by a lower wage. Secondly there are different employee percentages. Your business can cover a certain percentage and the rest of the cost falls on the employee. There is also an option of HSA (healthcare spending account), where monies prior to taxes is taken off of paychecks and put into an account. From there your employees have money set aside for medical reasons.

All in all, if you are thinking about adding a benefits package to your business it is important to speak to a few brokers. Not just one, but see what and who is out there. Ask questions to make sure you are getting everything you want for you, your business, and your employees.  

(Photo credit: http://alphastockimages.com/)

Are you aware of the tax changes that have and are taking place? There is the increase in CPP contributions and the Carbon Tax but there are also other changes directed at small businesses.

“As of January 1, business owners can generate up to $50,000 in passive income before they start to lose access to the advantageous small business tax rate. Small businesses pay a relatively low tax rate — currently 10 per cent — on the first $500,000 of business earnings. But starting in January, if those businesses hold in excess of the new limit on passive income, some of that first half-million in earnings will be subjected to the much higher corporate rate, depending on how far over the new limit they are.” (https://www.cbc.ca/news/politics/tax-changes-cra-canada-1.4944505.)

The new rate has been created in hopes that small business will invest their money in other ways instead of having monies sitting idle. For example hiring more employees or expanding/advancing your business. The good news to this change though is small businesses are being taxed less. As of 2019 the small business tax rate has dropped from 10% to 9%.

Then there is the carbon tax which we already have implemented but is set to increase. This means we will see an increase in our outgoing expenses as a business. For example the cost to heat your office/store front will have an increase. If you have goods and products being moved there will also be that increase in fuel.

How is it that 2018 in now over? Time has flown so fast it’s truly unbelievable. There have been trials and tribulations but not without successes and growth. The end of a year also brings with it a new year which can be full of opportunities. Whether your business has just started or has been around for years, it is good practice to reflect on the year we have had. This will give you some insight into how you may like things to go in the new year.

With a new year there are endless opportunities to move forward. Take everything that you have learned and apply it to create a greater you in your business. We all know that life is full of continuous growth and a new year is the perfect excuse to act. Here are some great questions to get you started on a reflection to better your business in the year to come.

• What made you the happiest in your business?
• What were the biggest challenges you faced?
• Did you contribute to positive changes in the year?
• What are you most grateful for in your company?
• What would you like to see realistically change this year?
• What are some important lessons you learned that you will carry on into the new year?

These are just a handful of questions that can get you started in the right direction as we enter into 2019. The important thing to remember is every year we grow and adapt to the world around us in our business. Each new year provides us the opportunity to be thankful for the year we had and the choice to make changes for what’s ahead.