Prepare your Shareholders Agreement

Protect the future of your corporation with a Shareholders Agreement*

One of the first steps after forming your corporation is to decide how your business will be operated and managed. For corporations that have 2 or more shareholders, ground rules should be laid out from the start to ensure that your business maintains good corporate governance. These rules are generally set with a Shareholders Agreement.

So, from November 9th to the 11th CorporationCentre.ca is reducing the price of our Shareholders Agreement from $99 to $50 for our valued customers.

Visit our Contracts Page from 9 am on November 9th to 5 pm on November 11th to get your Shareholders Agreement for only $50. The agreement is prepared through our online Easy Contracts system, which builds the document based on the information entered by you. It’s quick, easy and all online!

Click here for a detailed checklist of the information you’ll need to prepare your Shareholders Agreement. Make sure you have all the necessary information to complete the agreement before you begin.

If you have any questions please feel free to call us at 1-866-906-2677, we’d be happy to help.

* Please note that the Shareholders Agreement provided through our system is not intended to replace the services an attorney who can review your particular circumstances and advise you accordingly. We are not a law firm and do not offer legal advice or legal services. This Shareholder Agreement should not be taken to be appropriate for all circumstances. Please note that this Shareholder Agreement cannot replace a lawyer or their advice, particularly in complex or intricate situations or where opposing interests may exist. Contracts are in English only.

How an accountant adds value to your small business

Many business owners see an accountant as someone who keeps track of accounts payables and receivables, and makes sure that the business taxes are paid. However, a good accountant can be so much more. They are like a business partner, where they help your business become more financially efficient and take advantage of tax laws.

An experienced accountant is very valuable as they can help you make the right business decisions by providing strategic and financial advice while reducing your risk for your company. An accountant can be someone who wears many hats for your business, such as:

Business analyst: An accountant is trained to identify specific business challenges and provide solutions. By understanding your business and industry they become valuable as they can provide you with advice on the best financial strategy to take. They will help you create accurate financial information which will help you in analyzing your business performance. You can also assess what you have achieved as well as provide accurate forecasting for future growth.

Financial operations: An important part of an accountant’s job is to set up an accounting system including providing you with financial analysis and data. But, most importantly, your accountant can provide you with financial advice that can help you manage your business better - such as budgeting and cash flow forecasting.

Tax advisor: No matter how good you are with your company’s financial operations, there will be times when you will need the help of an expert. By taking advantage of an accountant you can be better prepared to deal with the complexities of small business taxation. They would be able to provide your business with advice and help restructure your business operations so that you can minimize your taxes and increase your profits.

A professional accountant adds tremendous value to your business through finding ways to:

• save money,

• lower your tax rate,

• increase profits

• and provide you with the financial information so that you can grow your business.

They can also help you analyze the numbers and use them to make more strategic decisions. Unfortunately, many small business owners fail to realize that working with an accountant is one of the most important business decisions that they should make - and not only during tax time.

How to hire a web designer

Is your company about to design a new website or planning to revamp your existing one? Finding a web designer to do it can be a challenging process; with so many to choose from. However, before you start looking around for one, you should already have a detailed understanding of what your website will be like. Take the time to plan your requirements for the site including the business goals. Some other questions that you should ask are:

• Is your website going to be powered by a Content Management System (CMS) such as Wordpress, Drupal and Joomla?

• Do you have a site map ready?

• Do you know the style including branding, logos and colours that your website should look like?

• What is your project deadline?

• And finally, how much are you willing to spend on your website?

Once you have created your brief, you can then start choosing a designer. Here are some of the points that you should consider:

• Portfolio: A designer’s portfolio is the best way to gauge their experience and skills. Don’t be afraid to ask the tough questions about their work that is represented and make sure that it can be verified. Ask for client references and find out:

o what their professional relationship was like;

o was there open communication;

o was the project done on time and to satisfaction?

Also, choose the portfolio that has work similar in scope to your project. For example, if you’re looking for a Wordpress site, make sure that the designer you choose has done multiple Wordpress projects.

• Style: Each designer has their own creative eye. This creativity can be seen in their designs - see if they are flexible in all their work, or does their work show the same, repetitive style?

• Communication skills: For any project to be successful, there has to be clear communication channel both ways. Make sure that your requirements are understood clearly by the designer, and secondly, that the designer can communicate clearly any changes or problems that may occur during the course of the project. It’s better to over-communicate than make assumptions that could be wrong. There should be a process where both of you can easily update each other during the course of the project including having regular meetings. There also should be multiple ways to communicate with your designer, when reaching them is critical.

• Are they knowledgeable: A consultant should always tie their services to the needs of your business. They should spend the time in learning how your business works, what you offer, and what kind of clients you work with. With that knowledge, they can design a site that will reflect your business and not what they think it should be.

• How much does it cost? Get a full breakdown of the costs in creating your site. Features such as a blog, email newsletter system, ecommerce functionality and others should be listed in the quote including time taken, resources used and any sub-contractors hired. Understand their billing process – will they bill you monthly, or are payments based on milestones

Your website is essential to the marketing success of your business. By interviewing potential designers, you’re more likely to pick one that:

• Is skilled to do the type of work you want,

• Communicates and listens well,

• And is budget conscious.

By keeping these tips in mind when searching for a website designer, you should be on your way to starting a successful website.

Protecting your small business from hackers

It’s not only the large corporations that are targeted by criminals, but also small businesses such as yours. This is because small businesses do not have the resources that they require to protect their IT infrastructure. Here are a few reasons why you should improve your IT security especially if you’re a small business:

• You need to protect your customer’s credit card information. There is even a greater risk of fraudulent activity as a majority of credit card transactions are online.

• Manage your brand reputation. By having the best IT security in place, you protect your business and customers and, most importantly, maintain your reputation as a secure place to do business.

• Protection from viruses /spyware. Another potential risk is viruses, which can create chaos on your business. Many viruses can shut down entire computer networks and even email systems. Once a virus has infected your computer, it will start sending emails to anyone listed in your address book, harming your reputation. This threat alone should be enough of an incentive to improve your IT security.

Once your infrastructure is compromised, the cost to purchase new software and hardware or even to manage crisis communications can be high. It doesn’t matter if the threat comes from an employee, a virus or a hacker, there are some easy ways to prevent and avoid these events. Here are some tips in protecting your company:

1. Get a reliable host service for your website and database. Make sure that they are reliable and have a good reputation. Ask for client testimonials when vetting vendors.

2. Verify that all your employees are using the current and up to date browsers. One of the easiest ways viruses and spyware can infect a computer is by exploiting weaknesses found in the browser.

3. Make sure that an anti-virus program is installed on all computers. This includes your servers. Keep the program current at all times.

4. Manage all your passwords at a single place using a password manager. And ask your employees to create passwords that are random. Do not use easily remembered passwords such as family names, pet names and such. Ask your employees to not keep the passwords where they are easily accessible.

5. Monitor internet usage. As employees could inadvertently come across malware or phishing sites allowing their computers to be hacked.

6. Protect your Wi-fi connection. Password protect your connection and make sure that your hardware is modern.

These are some steps that you can take to prevent unauthorized security breaches and will provide you with a solid foundation to protect yourself from basic malicious attacks.

Can social media help with your small business?

Social media has quickly become one of the best ways for a small business to compete against bigger players in their industry. For a business, creating a social media strategy not only allows you to create a personal connection between your brand and your customers - it also gives you the opportunity to:

• Build customer loyalty

• Create great customer service through interaction

• And lower your customer acquisition costs in the long run.

A recent survey by Michael Stelzner, provided interesting data that was shared in the 2011 Social Media Marketing Industry Report . What was found that small businesses who follow a social media marketing strategy received two times more qualified leads than those of businesses that didn’t.

As you can see, social media helps bring your brand in front of your potential customers much more easily than any other marketing strategies and at much lower costs. To be successful in your social media efforts there are certain things you should follow:

• Offer valuable content: Determine what your prospects need and try to fulfil it with great content. Will the content that you offer help them solve their problems? For example, for fans of your Facebook page, you can offer discounts, contests or exclusive promotions that reward them for their loyalty.

• Be consistent: Make sure that your communications are frequent and connect with your customers on a regular basis. If you haven’t updated your Facebook page over time, don’t be surprised if your prospects start leaving.

• Be visible on multiple social media platforms: Don’t just depend on one social media platform for your customer outreach. People are all over the web, having profiles on Facebook, Linkedin, Twitter all for different purposes. So, make sure that what you post is unique to the platform you’re on.

Along with strengthening your brand, social media has another advantage thanks to Google. It helps in your search engine optimization strategy. With the Panda update, Google has declared that social media activity will play a large role in how a website will rank in search results. The more people share your content through social media and link back to your website, the more Google will look favourably upon you.

Customers are looking for more than just a transactional relationship with their favourite brands. When you create an atmosphere that allows your prospective client to connect with your company by voicing their opinions and suggestions through social media, you gain their trust. This trust translates easily to higher revenue as it makes lead conversion easier.

How to hire for a start-up

Your start-up has finally got financed and, flush with money, it’s time to hire great employees. Now what? How do you know what makes a successful start-up employee? Many entrepreneurs realize quickly that they need a strong team, but finding talented people is a difficult process. Most likely, finding exceptionally talented employees becomes even more challenging as they rarely leave their current jobs for a start-up and are always in demand. Here are some rules that start-up founders offered on how to recognize a potential recruit may be great for your company :

1. They have worked for start-ups before. Applicants that have worked for start-ups are used to the chaos and speed of execution. They are self-managed and are used to working with little resources.

2. Have some small business experience. A small business is very different from a start-up where resources are more readily available. However, having small business experience is just as valuable as a start-up because they are used to having more responsibility and can work independently.

3. They work on side projects. People who work on side projects relevant to their careers or passions are ones you want. It's because they are willing to experiment and learn from hands-on experience.

4. Possible overseas experience. This would be an interesting point to consider for two reasons. Firstly, people who have worked overseas are more willing to take risks. And secondly, they are at ease working outside their comfort zone. Two qualities that an employee must have in working for a start-up.

5. Always hire for your company culture. As a small start-up, you may be fast paced, chaotic, no rules, work hard and stay up late. If someone who is used to a larger company and a structured environment, they will immediately leave within a few days. So, make sure that the person you're hiring can fit in your start-up seamlessly.

6. Look for problem solvers. In a start-up environment, there are very little resources. So, when there is a problem, an employee must find a solution, and fast! The right employee won’t run away from this challenge and won’t let go until it’s solved. It’s this attitude that you need to hire for.

7. If you’re a young start-up – hire smart generalists. This advice came from Dharmesh Shah, co-founder of Hubspot. A start-up in its early days should always hire “smart generalists”, those who can do everything and can pick up new skills as they go along.

8. Check references. Always ask the applicant for three or more references. Then pick up the phone and call them! References are the best way to determine whether a candidate would be a great fit for the company. And sometimes, you may find out new information that couldn’t be found during the interview.

There is nothing more frustrating than hiring an exceptional employee and realizing that they aren’t a good fit a month later. You not only lose time but also money – a valuable premium for any start-up.

What to look for when hiring a salesperson

In today’s competitive business environment, generating sales is absolutely essential for any small business. With a worldwide chaotic economy, making sure that you're generating strong sales is critical to your company’s survival. Companies have failed because they have a poorly executed sales plan. Marketing can drive brand awareness, but to generate sales revenue, you need to build a strong sales team.

So, how would you build a strong sales team? What are the qualities that you should look for when evaluating a potential sales recruit? To answer these questions, many sales managers agree that the top three qualities that are top predictors of success in a salesperson are:

• Passion
• Learning
• Drive

The salesperson’s attitude and passion

The first quality to look for is to find recruits who have a passion for sales. Sales is a hard job and the ones who succeed are those who consider the position more than just a job. Highly successful sales people tend to view their position as problem solvers, as opposed to just a salesperson. These people will go out of their way to build relationships with clients and work hard to solve their clients’ problems. A passionate sales team who are committed to making an impact on their customers make it easier to grow your business. By finding people who have a desire to be in sales, those who believe in helping people, you will be ahead of the game than the companies who hire sales recruits who are looking for a job.

Always willing to learn

A good sales person always tries to improve themselves. Look for those who have taken certifications, classes, seminars that help them improve their knowledge in the sales industry. They pay close attention to new ways to approach clients, cold call tactics, client relations and any other skills that help them become better salespeople. Top salespeople always look for a better way – taking the best and adopting the lessons that work.

Look for motivation or drive

Like any superstar, top performers work hard. They stay back an extra hour, making the extra cold call or setting an appointment. They make sure that the product is delivered and the client is happy. In short, they do whatever it takes to get to the top.

When creating a sales team - if you make the wrong hire it can hinder your sales progress. However, by hiring the right people you will be able to supercharging your company’s success.

CorporationCentre.ca $1 Incorporation Sale!

Small Business Week is over, but starting your business has just begun!

If you missed out on our first $1 Incorporations promotion, CorporationCentre.ca is offering another chance to take advantage of this great deal.

For one day ONLY, CorporationCentre.ca is offering $1 Incorporations.

On October 26th from 9 am to 5 pm ET,you can incorporate your business online with us for only one dollar.*

Click here for more information on incorporating your business.

Please note that this promotion is offered for orders placed on October 26th between 9 am and 5 pm ET only.

*Plus government fees. Click here for details on government fees for all Canadian jurisdictions.

Make Your Small Business Eco-Friendly

You may think that making your operations eco-friendly is going to be time consuming and costly, but surprisingly going green can lower your operating costs in the long run.

Going green is all about maximizing efficiency and conservation, and minimizing consumption - concepts that small businesses like to hear. You can do the environment and your business good by making a few small and simple changes in your operations.

Conserve Energy

Between office lighting, computers, phones, printers and heat, offices consume a huge amount of electricity which results in hefty bills each month. But did you know that there are programs offered by Hydro companies that provide incentives for going green? The Small Business Lighting Program provides qualifying businesses with up to $1000 worth in free energy efficient lighting and equipment upgrades. Companies like Hydro One offer the Electricity Retrofit Incentive Program, which provides rebates to companies that have adopted energy efficient technologies.

Recycle

This seems like a no-brainer, but many companies still do not take the time to implement recycling programs for their business. Recycling doesn’t just mean paper or water bottles, ink and toner cartridges can also be reused and office equipment can be refurbished. As well, eco-friendly office supplies such as paper made from recycled or post-consumer content is available from most office suppliers.

Reduce Waste

This is the simplest way to go green, and to reduce operating costs. Encourage employees to only print when necessary, to print on both sides of paper, and to recycle all used paper. Digital communication and computer backups enable us to work electronically rather than leaving a constant and unnecessary paper trail.

Lead By Example

It’s one thing to implement an eco-friendly business model, it’s another thing to actually abide by your rules. Make sure that you introduce the new ideas to employees formally and provide easy ways for them to take part. Eventually, these ideas can be implemented as policies for all employees, and your business will be well on its way to going green!

5 Ways Small Business Can Use Social Media

Social media is hard to avoid these days – everyone seems to have at least one account on a social media website. So when marketing your company – whether big or small – you have to go where the people are. You may think that only big name companies can be successful on websites like Facebook or Twitter, but social media is the ideal platform for small businesses running marketing campaigns on tight budgets. Here are 5 ways small businesses can use social media successfully to market their companies.

Customer Service:

Social media is all about connecting, engaging and interacting with customers and it puts customer service on a whole other level. Facebook and Twitter gives users the ability to post or tweet comments or questions directly to you, which allows for a more informal and real-time approach to helping customers. Asking for customer feedback, suggestions or comments will help to start the conversation flowing if you’re finding interaction to be one-sided. And, it’s important to respond to ALL customers, whether positive or negative. Keep the communication honest and open and your customers will appreciate the effort.

Networking:

For small businesses, networking is a great way to generate leads and find prospective customers. Social media sites liked LinkedIn make it easy for small businesses to network professionally from the comfort of their computers. Connections are made first through people you already know but from there you can find mutual connections, follow companies, join discussions, and take part in Q&As. All of this gives you a continuously expanding professional network at the tip of your fingers.

Advertising:

For small businesses that are wary of the enormous costs associated with traditional media like print, radio and television, social media gives you an inexpensive and measurable alternative. And again, because everyone is already using social media, it’s become the best place to advertise. The Facebook and LinkedIn advertising platforms are web based, easy to use, and cost effective. Your budget is up to you, you can start, stop and modify your ads at any time, and you only pay when someone clicks. On top of that, you can easily measure the results of your campaigns through metrics that allow you to analyze impressions, clicks, click through rates and spend while your campaign is running.

Inbound Links:

If you’re thinking about using social media for your business, chances are you’ve got a website already. Inbound links are links from external sites that bring traffic to your website. The more your website is linked on outside sources, the more traffic or referrals you’ll get. Plus, inbound links help increase your ranking in major search engines if the inbound links are relevant and of good quality. So posting information to your blog which links to your website, then posting to Facebook and LinkedIn, and tweeting it on Twitter can create direct clicks, shares, or re-tweets – all of which contributes to inbound traffic to your website.

Branding:

Get your name out there! I’ve said it twice and I’ll say it again – go where the people are. You might find social media intimidating (“what if no one ’Likes’ us?”) but it’s all about interacting and building relationships, no matter how many people are watching. Don’t expect major results over night and don’t try to compete with the big guys, but stay active online by posting relevant, interesting and fun information on a regular basis and eventually you will have built your own community within the larger social media framework.

Since social media is still relatively new to most people and seems to be constantly changing, it’s a good idea to keep on top of the latest trends and to pay attention to what other businesses are doing. Regular research helps to keep your business in the know when current social media platforms make significant changes or when new platforms are released. A good way to stay on top of the trends is to subscribe to RSS feeds from reliable tech news sources such as Mashable or Social Media Examiner. Tech blogs and Twitter trending topics can also give you an idea of the latest in social media development.

When it comes to social media the key is to watch what other people are doing, stay on top of what’s current and, most importantly, have fun with it!