Showing posts with label Entrepreneurship. Show all posts
Showing posts with label Entrepreneurship. Show all posts

Friday, July 15, 2011

The Future of IT

My daughter is 6 months old. When I was her age, my favourite toy was a stuffed Bert from Sesame Street. Not my daughter, though. She was born with a passion for technology. The first time she crawled, it was to get to my iPad 2. Forget about toys, she wants to play with cellphones, iPads and any kind of digital gadget she can get her tiny hands on.


I recently read a tweet from CEO of Polar Mobile, Kunal Gupta, who mentioned, "your children are in two states...sleeping or online," and I couldn't agree more. Born into a culture of technology, it's no wonder our kids are so tech-savvy.

Growing up, my first computer was a Commodore 64, and I dreamed of colour graphics and not needing 9 floppy disks to run a program. Computers today run on terabyte hard drives and are much more advanced, allowing kids access to technology, information and opportunities to learn that in my time simply didn't exist.

One such opportunity is an elite camp known as Shad Valley, a summer enrichment program for students currently enrolled in or finishing high school. Open to both Canadian and international students, Shad takes a passion for technology and fuels it into a prominent and driven career path. Students spend a month living on campus at one of the host university campuses across Canada, studying business, science, math, engineering, technology, and entrepreneurship. Some of the top young CEO's and founders of technology companies have attended this camp.

In his book, Outliers: The Story of Success, Malcolm Gladwell speaks of the rule of 10 thousand hours. He believes after 10 thousand hours of practice or study on a particular topic, you become an expert. Imagine the potential our children will have if they become experts in technology while they are still in high school. By university, they'll be ahead of the curve, and by the time they reach the job market, they'll have a competitive advantage, a vision, and no ceiling on where they can go, and what they can accomplish.




Monday, March 28, 2011

WordPress Theme Smackdown: Free, Premium or Custom

We're migrating our corporate website to WordPress. After a year of searching for the perfect WordPress theme to style our site I've decided to get a custom theme developed. It wasn't an easy decision. My original intention and true wish is to do the whole thing myself. Now I see that DIY could stall the project forever. It's time to reach out and get some help.

Static Version of Stafflink.ca
I created the current version of our website over a year ago. Since then I've done everything in my power to make it look and act like a dynamic WordPress site. I added Twitter widgets, a blog and hooked our site up with an RSS feed and social media. This keeps our content fresh and pushed our Google page rank up a notch. But now it's time for the real deal.

The illusion.
I believed that if I found the right WordPress theme it would just be a simple matter of plugging in our content. Then Presto! I'd have a dynamic WordPress site at my command. I wrote 10 Reasons I Jumped on the WordPress Bandwagon to share this magic solution.

Reality Check.
Turns out isn't that easy. I've dressed up our content with a series of themes. I gave Elegant themes a whirl. I tried the Thesis framework on for size. I read every roundup of theme reviews that I could find. But I now I have to face reality. I'm never going to find the perfect off-the-shelf theme for our site.

The Smackdown.
Here's the smackdown part of this article. AKA my humbling journey from free themes, to premium themes, to frameworks, to hiring a custom theme developer.

Free Themes
    The BlueBubble Theme Template
  • The Good: They're free! They're part of the beautiful sharing opensource WordPress community. I used the free BlueBubble theme for my e-learning course Build an e-resume portfolio site with WordPress. If you want a personal blog or e-resume/portfolio site, then a free theme might be the perfect solution for you.
  • The Bad: It's free so you can't expect the same level of support that you would receive with a premium theme. Plus the developer may abandon the theme and stop updating it for new releases of WordPress.
  •  The Ugly: Free themes can hide malicious code so be careful. It's best to get your free themes from the WordPress.org Free Themes Directory.
Premium Themes
  • The Good: You get a professionally designed template for an extremely reasonable cost. Here are a few premium theme solutions that I recommend: Elegant themes and Woo Themes. But there are hundreds of great premium theme sources.
  • The Bad: I'm often attracted to premium themes with beautiful photographs. But when I add my own content the theme suddenly looks plain and cookie-cutter. If you have your own beautiful photos or artwork, this won't be a problem for you.
  • The Ugly: If you use a popular theme then thousands of sites out there will look like yours. Unless you have enough programming and design skills to customize the theme.

Theme Frameworks
A theme framework is designed to be a flexible foundation for faster WordPress development. 

Stafflink Styled with Thesis Folio

I tried the Thesis theme framework along with the Thesisfolio skin. People liked the look of our site dressed up with Thesisfolio. But when we compared the job list, the blog and landing page of our current site side by side with Thesisfolio, the consensus was that our old site was more friendly, approachable and engaging.

Someday I aspire to have our site running on a framework. But right now I need to expedite this project so it's time to hire a pro.

Custom Theme
  • The Promise: Experienced web developers design an original theme to showcase your business. You get a unique online identity for your business and expert support for migration and SEO.
  • Our Choice: We've hired a local Toronto company to develop a custom WordPress theme for us. We'll see how it works out in a month or so when the project is complete.
  • The Risk: Having a custom theme designed is expensive but after of year of unsuccessfully seeking a DIY solution, I think it's worth it. The biggest issue for me is that I'm not doing this development myself. But so far Will Webb, the owner of IMG, is responsive to my questions and I'm hopeful that his team will produce a beautiful site for us. And when it's all finished this baby will be mine.

Who wins the Smackdown? Free, Premium or Custom
It all depends on the purpose of your site, and your level of design and technical skills. For Stafflink, custom theme development is the winner today. But this story isn't over.

Enough about me already.
What's your take on this whole thing?
Do you think I made the right decision to hire a custom theme developer?
What WordPress themes do you recommend?
What's your favourite framework?

Related Links:
10 Reasons I Jumped on the WordPress Bandwagon
Build an e-Resume Portfolio Site with WordPress
WordPress Theme Framework Comparison
WordPress Free Themes Directory


Laura Upcott
Stafflink Solutions Ltd.

Website:    http://stafflink.ca/
e-Resume: http://www.lauraupcott.com/
Email:        laurau@stafflink.ca

Friday, November 19, 2010

10 Reasons I Jumped on the Wordpress Bandwagon

I’m building a new Wordpress-powered version of Stafflink.ca. Our current site is okay, but Wordpress could bring us to a whole new level. Actually it’s become a bit of an obsession for me.

The seed was planted about a year ago when my colleague Ryan Ayres told me about Wordpress. I wasn’t ready to take the plunge at the time. But since then I've been building little Wordpress sandbox sites to play with and learn.

I’m not the only one jumping on the bandwagon. According to Wordpress stats, there are over 32 million WordPress publishers as of November 2010.

The magic of Wordpress is that it enables anyone to create a dynamic corporate website very quickly and fairly easily depending on how much customization you want.

Something for everyone. It’s not just a blogging platform. It’s a full-fledged content management system. It can be a do-it-yourself web development tool for non-designers and non-coders. Or you can extend Wordpress by building your own templates, plugins and widgets. In either case your site is powered by the amazing open source PHP and MySQL based Wordpress platform.


Top ten reasons I Love Wordpress

  1. It’s revolutionary. With Wordpress anyone who knows a little HTML and CSS can put up a dynamic business website in a few weeks (except for me apparently :-).
  2. Open source. Its continuously improving thanks to a huge community of developers lead by Wordpress founder Matt Mullenweg.
  3. You’re in good company. NYTimes, Ebay, Yahoo, Ford, SmashingMag, Wall Street Journal, People Magazine, Sony, Samsung, Playstation and Wired all have Wordpress sites.
  4. Easy to install. Wordpress.org is famous for the 5-minute installation. (It took me quite a bit longer the first time).
  5. Community support. Numerous sites like WPBeginner.com , WPTavern.com and WPRecipe.com offer tutorials, tips and reviews.
  6. Templates. Wordpress enables you to style your website automatically with a huge selection of free and premium design templates.
  7. Plugins. Get a free plugin for almost anything: social media , backups, caching, security, mobile integration.
  8. Widgets. Drag and drop elements to build your sidebars and footer.
  9. Documentation. The Wordpress Codex is fully searchable and meticulously maintained by a dedicated development community.
  10. It’s Free! Take advantage of all of this awesomeness for free. Really. I know. It seems too good to be true.
I am so excited to launch a Wordpress powered version of Stafflink.ca. I’ll keep you posted. In the meantime if you have any Wordpress tips to share you’ve got my attention. I’ll be happy to try to answer your questions too!

Written by
Laura Upcott
Stafflink Solutions Ltd.
http://stafflink.ca/
http://www.myelbowspace.com/
laurau@stafflink.ca
http://www.twitter.com/lauraupcott
http://ca.linkedin.com/in/lauraupcott

Thursday, October 21, 2010

Welcome to Toronto, Silicon Valley North

A tech revolution is taking off right here right now in Toronto. What does that mean for you and me? It means exciting work opportunities and fierce competition for creative technical talent.

Why are companies such as EA, Apple, Microsoft, RIM, Disney, Facebook, Twitter and Google partnering with and buying Toronto tech companies?
  1. Excellent People – Mark Zuckerberg, founder of Facebook says it best, "We have not once bought a company for the company. We buy companies to get excellent people."
  2. Great Schools – Toronto has access to a wealth of talent being produced in schools like Waterloo (Masters Program in Technology Entrepreneurship), University of Toronto, Sheridan College, Queens University, and many others which have world renowned Technology and Engineering programs.
  3. Community – Toronto has a community of young tech entrepreneurs who are building word class companies and networking at camps, informal meetings and through social media sites like Sprouter.
  4. Government Tax Credits – SR & ED (Scientific Research and Experimental Development). “SHRED” gives millions in stimulus dollars to small and medium sized businesses. CEO of Polar Mobile, Kunal Gupta, says he “briefly looked at outsourcing to India or China but between the talent and the tax credits, we realized it was cheaper to do it in Toronto.”
  5. Extreme Labs creates an environment for developers to build companies and follow their dreams. They run a very cool training program for young entrepreneurs who are given $5000 and during a 12 week session create products that are presented to a group of VC’s and investors (Dragon’s Den Style). The three companies that were successful last year raised 1.5M.
  6. Funding – Money is becoming more available to entrepreneurs. Companies such as Tech Capital, RBC Ventures, Blackberry Partners Fund, Extreme Venture Partners and Growthworks are investing millions in technology startups.
  7. New Devices – This tech trend has staying power. Smart phones are selling more rapidly than PC’s. Tablets will gain market share as the price point comes down over the next 6 months. Apps are driving sales of these devices.
Let’s look at some of the recent amazing success stories of Toronto companies:
  • Polar Mobile – 6 million downloads of their apps – Sports Illustrated, Time, Food Networks, CNN, CBS, NCAA Sports, and 500 new apps to come for Microsoft
  • Five Mobile – custom apps for Rogers, Disney and Sony Pictures – one of their apps for the The Score has over 6 million downloads
  • Rypple – just raised 7M – their software integrates smartphones and office email
  • Extreme Ventures – invested in 14 tech start ups – 250 staff – one of their companies BumpTop recently sold for a rumoured 35M to Google
  • Sysomos – allows corporate clients to analyze Twitter and Facebook conversations – sold last summer for 35M
  • Endloop – fantastic app called iMockups that gives developers a template for developing apps on an iPad – all object oriented
Toronto is an exciting place to be right now if you have an entrepreneurial spirit and you’re interested in app development. We are fortunate to have a number of these companies as our clients.

Action Points

  • Talk to us about the possibility of working for one of these companies. Email us at cooljobs@stafflink.ca.
  • Join the conversation and network with entrepreneurs. Join Sprouter, a Twitter-like community for startups and entrepreneurs, and answer the question “What are you working on?”
  • Read more about the tech revolution in this November 2010 Toronto Life Feature Article "Download My App" posted by Kunal Gupta of Polar Mobile:

Written by Tim Collins Stafflink.ca
timc@stafflink.ca
www.twitter.com/stafflinks
www.linkedin.com/in/timrcollins

Thursday, September 30, 2010

Sole Proprietor vs Incorporation for Independent Contractors

As a self-employed independent contractor you're an entrepreneur and a risk taker. You control your destiny by developing your skills, producing exceptional work, expanding your networks and building a personal brand. If you add excellent communication skills to your repertoire then businesses will compete to hire you and you'll have more work than you can handle.That's why some people choose entrepreneurship, because they feel that the rewards outweigh the risks.

How do you know when it's time to get incorporated? Here are some points to consider as you weigh the pros and cons of incorportating your business:

1/ Cost
One of the biggest advantages of sole proprietorship is that setting up and administering the business is comparatively easy and inexpensive. It costs $1000 or more to incorporate your business depending on who you hire to assist you with the process.

2/ Liability
One of the main advantages of incorporation is limited liability. A sole proprietor assumes all of the liability for the company. As a sole proprietor your personal assets, such as your house and car can be seized. As a shareholder in a corporation, you are not responsible for the debts of the corporation unless you have given a personal guarantee.

3/ Corporations Carry On
Unlike a sole proprietorship a corporation has an unlimited life span. The corporation will continue to exist even if the shareholders die or leave the business.

4/ Tax Credits
Income tax rates are lower for Corporations than for personal income. Using tax planning, the tax burden can be reduced by earning income through a Corporation, due to the lower corporate tax rates.

5/ Income Control and Tax Deferral
If you are incorporated, you have options to determine when you personally receive income from your corporation. Being incorporated allows you to report your income at a time when you will pay less tax. You may be able to realize tax savings if you receive your income at a time when you are in a lower tax bracket or if taxes have fallen.

6/ Income Splitting
With a Corporation, there exists the opportunity to pay shareholders salary, dividends or a combination of the two. Your spouse and/or children could be shareholders in your corporation giving you the opportunity to redistribute corporate income to family members with the lower incomes taxed at a lower rate.

7/ Perception
Some people perceive corporations as being more stable. Having Ltd., Inc., or Corp. as part of the company’s name may help you attract business.

8/ Paperwork
Incorporation brings with it extra accounting and paperwork. Corporations must maintain minute books, corporate bylaws. Other required corporate documents are register of directors, the share register and the transfer register.

9/ Non-Calendar Year Ends
Corporations have the ability to choose their year end and not be restricted to a calendar year-end as with a Sole Proprietorship. This opens up the possibility of bonus deferrals. Choosing a year-end may be better for year-end paperwork filing should your business be busy at the end of the calendar year. By incorporating you can choose to have your year-end fall during a slow period.

Conclusion
I‘ve outlined some of the advantages and disadvantages of incorporation versus sole proprietorship but what’s the bottom line? Is getting incorporated worth it or not? I recommend that you discuss your personal situation with your accountant and lawyer before deciding.

Further Reading:
Business Registration in Ontario
How to Incorporate Your Business
10 Job Networking Strategies to Consider if You're a Newcomer to Canada
3 Resume Publishing Tools to Pump Up Your Job Market Value

Written by: Tim Collins
Stafflink.ca
timc@stafflink.ca
www.twitter.com/stafflinks
www.linkedin.com/in/timrcollins

Thursday, September 23, 2010

Diary of a Delusional Laptop Shopper

Sometimes you get what you pay for. At least that was true for me when I bought some new laptops for our office last week. Maybe you fall into one of these categories:

  • Bargain Hunter: You want a decent system for a great price.
  • Power Ranger: You want the fastest, most kickass system money can buy.
  • Empowered Consumer: You want a quality system with excellent support.
  • Apple Devotee: You just march into the Apple store and pick the sexiest Mac your credit card can handle.
  • DIY Ninja: You build your own computers from scratch with components ordered online from a secret network of suppliers.
Me? I thought I was a power ranger but a recent mistake proves that I’m more of a delusional bargain hunter.

I've purchased many Dells over the past 15 years and until recently I was an enthusiastic cheerleader for Dell. Over all our Dell computers have been quality machines that lasted many years without issue. I've rarely needed to call for technical support. But with the last two Dell laptops I purchased I've noticed a change in the quality of their customer service. On two occassions an automated solution Dell offered us was buggy and usuable with our system. So I'm ready to take a chance with another brand. Here's my story:

It’s my lucky day. It’s back to school season, computers are on sale everywhere and I need to replace some old computers at the office. I'm in Staples shopping for a geometry kit when a shiny Acer laptop catches my eye. I check out the specs: 2.2 GHz Intel processor, 4 GB memory, video cam and OMG it's only $399! It's way more computer than the Pentium IV Dells I bought 5 years ago for less than half the price I paid then. What a steal!

A sales rep approaches me at that moment. He has me at "hello." But when he mentions that Staples services their computers on site I'm really sold. Two days later I proudly present new Acer laptops to our recruiters.

Red Flag 1: One of the Acer keyboards freezes. It seems to be a "one-off" so we reboot and carry on.

Red flag 2: The other Acer freezes three times in one day. I bring the repeat offender back to Staples. The rep who originally sold me is there. I'm in and out of the store within 15 minutes carrying an identical replacement Acer. Problem solved, or so I thought.

Red Flag 3: I read Joe Stoll's blog “How a $400 PC from Future Shop for Your Business Can End Up Costing You Double.” Uh-oh.

On the weekend I notice that The Shopping Channel is offering special build of Dell Inspiron Laptops for $699. I’m mesmerized by the rainbow of glossy colours they come in. So tempting. But I decide to wait and see what happens with the Acers.

On Tuesday the replacement Acer freezes several times. Maybe I should buy those Dells from The Shopping Channel after all? My staff selects colours-I'm a bit iffy about the purple. A voice of wisdom (Tim Collins) warns me not to buy the Dells until after I return the Acers to Staples.

When I march those defective Acers back into Staples that evening, Todd Roberts, a divisional sales manager, is there to help out. He takes the Acers back without batting an eye. Then he refers me to his #1 sales guy who up-sells me (of course). You get what you pay for right?

I’m an easy mark but it feels like a win-win. After experiencing Staples' excellent customer service with the defective Acers, and knowing that they do most of their repairs onsite, I feel okay about buying HP Pavillion DV6's for $699. I’m impressed with the technology team at Staples (Dundas and Winston Churchill, Oakville). Even when they made mistakes they took responsibility for fixing them. Time will tell but so far it looks like my story has a happy ending.

This morning Todd drove all the way from Staples Oakville to our office in downtown Toronto and personally delivered two gorgeous new HP laptops to our office. So far so good. Our recruiters love their new HPs.

What’s next if my rosy relationship with Staples and HP changes for the worse? I might be forced to become a DIY Ninja and build my own computers from scratch. How hard can it be?...ya right =)

Related Post: Got any old computers lying around?

Thursday, September 2, 2010

10 Job Networking Strategies to Consider if You're a Newcomer to Canada

Newcomers to Canada frequently ask me how to get a job in their field. I wish I had a magic formula. You found your way to Canada. I'm sure it wasn't easy. You bring with you a treasure trove of knowledge, experience and potential. You also bring a determination to make a contribution and a fresh perspective that our economy needs.

I've seen countless people succeed in the same situation that you find yourself in now. So it is with sincere admiration that I offer these suggestions. I trust that you will find your way to the work experience you are seeking. And in the process you will enrich your community.

I talk to many newcomers who are established as highly-demanded professionals in their field. Usually I'm trying to recruit them for a job. At least 70% of our placements are people who've immigrated to Canada. How did they do it? Luck? Connections? A well written resume? Here are a few ideas you could consider in your quest to jump start the next leg of your career.

  1. Reach out to people you know who've come to Canada and landed in good jobs. Ask them how the did it.
  2. Informational interviews. Arrange to meet with people who are currently working in your field, not to ask for a job, but to ask for advice on how to break into the marketplace.
  3. Participate in blogs and usergroups in your field. Make comments. Answer questions. Provide technical advice. Seek out opportunities to demonstrate your expertise and help others.
  4. Mine LinkedIn. Complete your LinkedIn profile including a friendly photo. Network to find others on LinkedIn that you might know through a friend. Link to your personal blog/website or portfolio from your profile. Join special interest groups that are related to you field. Participate actively by starting discussions and commenting on other people's discussions. Promote others.
  5. Participate in professional networking events like camps and meetups to get to know people working in your field.
  6. Offer a free trial run of your services (aka volunteer work or and an internship) to entice people to give you a chance. This creates a Canadian reference for your resume. You don't need to mention on your resume that it was volunteer work.
  7. Create a personal website to market your services. Use it as a platform to showcase your expertise and find work. Tell your story of coming to Canada - people love stories and they might be inspired to help you. Include a "Hire Me" or "Work with Me" link to tell people how to hire you. Add a jazzed up version of your resume or portfolio.
  8. Blog about topics of interest to potential employers/clients and people in your field. Publish your articles on your personal website and broadcast links to your blogs on LinkedIn, Twitter, Facebook and and special interest groups where people with your skillset (including potential employers) hangout.
  9. Communication skills. It's the one requirement you see on nearly every job description. If you find that people have difficulty understanding you in conversation, check out LearnSpeakLive.ca for information about free language instruction program in the Greater Toronto Area.
  10. Be Persistent. Creating a personal brand is hard work. As you implement the above strategies you'll be "self-employed". That entrepreneurial spirit is popular with employers these days - especially startups and technology firms. Eventually you'll connect with an employer who will be delighted to hire you.
Please share your tips for getting established in a new job market. Did I miss anything? What works for you?

See also

Posted By Tim Collins, President and Founder,
Stafflink Solutions Ltd

Thursday, June 3, 2010

To Incorporate or Not to Incorporate, That Is the Question

As an independent contractor is it worth the $1000 or more that it costs to incorporate your business? To help you decide here's a comparison of the two most common types of businesses adopted by our contractors: Sole Proprietorship and Incorporation. Before you make your final decision about getting incorporated it's very important to discuss your options with an accountant.

Tip: You can change the legal structure of your business as it grows. Many small businesses start out as a sole proprietors or partnerships and become incorporated as the business grows.

1/ Liability
One of the main advantages of incorporation is limited liability. A sole proprietor assumes all of the liability for the company. As a sole proprietor your personal assets such as your house and car can be seized. As a shareholder in a corporation, you are not responsible for the debts of the corporation unless you have given a personal guarantee.

2/ Corporations Carry On
Unlike a sole proprietorship a corporation has an unlimited life span. The corporation will continue to exist even if the shareholders die or leave the business.

3/ Tax Credits
Income tax rates are lower for Corporations than for personal income. Using tax planning, the tax burden can be reduced by earning income through a Corporation, due to the lower corporate tax rates.

4/ Income Control and Tax Deferral
If you are incorporated, you have options to determine when you personally receive income from your corporation. Being incorporated allows you to report your income at a time when you will pay less tax. You may be able to realize tax savings if you receive your income at a time when you are in a lower tax bracket or if taxes have fallen.

5/ Income Splitting
With a Corporation, there exists the opportunity to pay shareholders salary, dividends or a combination of the two. Your spouse and/or children could be shareholders in your corporation giving you the opportunity to redistribute corporate income to family members with the lower incomes taxed at a lower rate.

6/ Perception
Some people perceive corporations as being more stable. Having Ltd., Inc., or Corp. as part of the company’s name may help you attract business.

7/ Paperwork
Incorporation brings with it extra accounting and paperwork. Corporations must maintain minute books, corporate bylaws. Other required corporate documents are register of directors, the share register and the transfer register.

8/ Non-Calendar Year Ends
Corporations have the ability to choose their year end, and not be restricted to a calendar year-end as with a Sole Proprietorship. This opens up the possibility of bonus deferrals. Choosing a year-end may also be better for year-end paperwork filing should your business be busy at the end of the calendar year. By incorporating, you can choose to have your year-end fall during a slow period.

Conclusion
I‘ve outlined some of the advantages and disadvantages of incorporation versus sole proprietorship but what’s the bottom line? Is getting incorporated worth the expense or not? Make sure to discuss your personal situation with your accountant before you decide.

Tim Collins

Friday, February 26, 2010

Must Read: Guy Kawasaki's Reality Check

Reality Check: The Irreverent Guide to Outsmarting, Outmanaging, and Outmarketing Your CompetitionI just finished reading Guy Kawasaki's Reality Checkand I feel a burning desire to blog about it. It blew my mind. In a good way. This book will bring you to the next level in whatever you're doing - whether you're building a team or growing a business.

If you haven't read Reality Check run out and get it this minute. It's more than just a great read, it's literally forced me to take action. For instance, Kawasaki says: "Truly, if no one but your dog reads your blog, it's still worth doing." And here I am writing this blog like a 13 year old groupie.

Kawasaki interviews his favorite authors and summarizes their best work. He begins his chapter The Zen of Presentations, with "All hail Garr Reynolds!" Reynold recommends Kawasaki's famous 10/20/30 method for Powerpoint presentations (10 slides, 20 minutes, 30 pt+ font size). I'll give that whirl the next time I write a presentation.

If you haven't read Chip and Dan Heath's Make it Stick you probably will after you read chapter 28, The Sticking Point. Simple. Unexpected. Concrete. Credible. Emotional. Story. I'm writing some training right now and I cannot be reminded of the six principles of SUCCES too many times.

Perhaps the most helpful tip I picked up from Reality Check is the technique Kawasaki uses throughout the book: Pay it Forward aka What Goes Around Comes Around aka Give Power to Get Power. Kawasaki promotes the authors and innovators that inspire him. And I feel inspired to promote Kawasaki. Coincidence?

Thursday, January 21, 2010

Find Your Voice in Web 2.0

The business advantages of embracing social media are clear. But so are the challenges. Now that everyone has jumped on the Web 2.0 bandwagon is it too late to jump in the game? Is it still possible to find a voice above all the noise?

The social networking landscape is changing. Last year I heard statements like:

“Twitter is for teenagers.”
“Facebook is for posting drunken pictures.”
“I don’t have time for LinkedIn.”

Now these same colleagues sing a different tune. Why?

  • The marketing potential of social media is too large to ignore. Where else can you reach a mass audience with a single post? Do traditional marketing methods like advertising still work?
  • The cost of entry for social media is low. So far the cost of using social media is exponentially lower than traditional methods with comparable benefits. Job boards can cost a firm 50k per year. We still have our job board accounts but now we find about 30% of our candidates on LinkedIn.
  • The potential for finding solutions through social media is huge. When developing our new website we found a wealth of code examples and design tips on Twitter.

Remember when an attractive brochure-style website was all the corporate web presence your business needed. Now you need a dynamic website that engages your community with more than advertising. You need to interact with your customers through blogging, tweeting, groups on LinkedIn or Facebook...the options are limitless.

I think it is still possible to make your voice heard in this new reality. Web 2.0 has drastically changed the marketing landscape but it hasn’t changed the basic building blocks of business: focus, value and quality.

Your social media presence is a reflection of you business. The best way to find your voice is to focus on what’s important to your customers. Share relevant information. Make sure that everything you put out reflects the quality that you offer in your products and services.

Only a fraction of your posts should be self promotional. Don’t blast your followers with marketing or they’ll feel the same about you as they do about telemarketers. We try for a 1 to 10 ratio, with only one in 10 posts focussed on marketing.

Networking through social media is your opportunity to offer value that is above and beyond the products you sell.

Tim Collins
Stafflink.ca
timc@stafflink.ca
www.twitter.com/stafflinks
www.linkedin.com/in/timrcollins

Tuesday, December 8, 2009

Should You Incorporate? Sole Proprietorship vs. Incorporation

 It can cost $1000 or more to incorporate your business. But is it worth it? This article compares the pros and cons of the two most common types of businesses that we see: Sole Proprietor and Incorporated.

Tip: You can change the legal structure of your business as it grows. Many small businesses start out as a sole proprietors or partnerships and become incorporated as the business grows.

1/ Liability
One of the main advantages of incorporation is limited liability. A sole proprietor assumes all of the liability for the company. As a sole proprietor your personal assets, such as your house and car can be seized. As a shareholder in a corporation, you are not responsible for the debts of the corporation unless you have given a personal guarantee.

2/ Corporations Carry On
Unlike a sole proprietorship a corporation has an unlimited life span. The corporation will continue to exist even if the shareholders die or leave the business.

3/ Tax Credits
Income tax rates are lower for Corporations than for personal income. Using tax planning, the tax burden can be reduced by earning income through a Corporation, due to the lower corporate tax rates.

4/ Income Control and Tax Deferral
If you are incorporated, you have options to determine when you personally receive income from your corporation. Being incorporated allows you to report your income at a time when you will pay less tax. You may be able to realize tax savings if you receive your income at a time when you are in a lower tax bracket or if taxes have fallen.

5/ Income Splitting
With a Corporation, there exists the opportunity to pay shareholders salary, dividends or a combination of the two. Your spouse and/or children could be shareholders in your corporation giving you the opportunity to redistribute corporate income to family members with the lower incomes taxed at a lower rate.

6/ Perception
Some people perceive corporations as being more stable. Having Ltd., Inc., or Corp. as part of the company’s name may help you attract business.

7/ Paperwork
Incorporation brings with it extra accounting and paperwork. Corporations must maintain minute books, corporate bylaws. Other required corporate documents are register of directors, the share register and the transfer register.

8/ Non-Calendar Year Ends
Corporations have the ability to choose their year end, and not be restricted to a calendar year-end as with a Sole Proprietorship. This opens up the possibility of bonus deferrals. Choosing a year-end may also be better for year-end paperwork filing should your business be busy at the end of the calendar year. By incorporating, you can choose to have your year-end fall during a slow period.

Conclusion
I‘ve outlined some of the advantages and disadvantages of incorporation versus sole proprietorship but what’s the bottom line? Is getting incorporated worth it or not? I recommend that you discuss your personal situation with your accountant and lawyer before you decide.

Tim Collins
Stafflink.ca
timc@stafflink.ca
www.twitter.com/stafflinks
www.linkedin.com/in/timrcollins

Monday, November 23, 2009

Impact Gala Caps Off Global Entrepreneurship Week

Last weekend I was honoured to attend the Impact Entrepreneurship gala which capped off Global Entrepreneurship Week and the Impact National Conference 2009. After meeting the aspiring young entrepreneurs at the gala I can assure you that the future of the Canadian economy looks bright.

Kunal Gupta founded the Impact Entrepreneurship Group in 2004. Impact is Canada's largest non-profit, student-run organization dedicated to encouraging the entrepreneurial spirit amongst youth in Canada (http://www.impact.org).

A longtime entrepreneur myself I was inspired to meet the next generation of entrepreneurs. It was incredibly fun to be in a room filled with young people from all around the world who are bursting with new business ideas and the energy to see those ideas through. I was impressed again when my mailbox filled up with "nice to meet you" emails from the youth I met at the gala. I know these people will have an enormous positive influence on our economy, creating jobs and wealth for themselves and others.

Justin Trudeau was the keynote speaker at the Impact Gala. After the conference he tweeted, "Blown away by the young leaders at Impact entrepreneur's conference yesterday; tomorrow is in good hands. Journée famille dans le nord." Justin presented a strong vision for engaging more young people in entrepreneurial projects and helping young Canadians think INNOVATIVE!

I started young as an entrepreneur myself. I think it began when I sold gift items from the Regal Catalogue so I could buy a bike. In high school I saved money for university by starting up a sports skills summer camp. While I attended Waterloo University I ran an Student Painters franchise in California. I'm thrilled to see that the entrepreneurial spirit is alive and kicking among today's youth and that Impact is there to help them.

I've noticed lately that small and medium sized businesses create many of the job orders that we receive. Many small businesses are thriving in this tough economy. I believe that entrepreneurs are leading the recovery from this recession. The students and new grads I met at the Impact Gala will contribute to a bright future for all of us. I have no worries about Canada's economic recovery.

I applaud the Impact team for inspiring our youth to think big, achieve their mark, and ultimately turn their very own entrepreneurial ideas into reality!

Tim Collins
Stafflink.ca
timc@stafflink.ca
www.twitter.com/stafflinks
www.linkedin.com/in/timrcollins

Friday, October 23, 2009

Small Business Leads Us Back To Prosperity

Analysts report that both Canada and United States will likely reach 10% unemployment rates. These figures are not often seen in recent memory. Both countries always have pockets with high unemployment rates due to a troubled industry. But these are national statistics.

Many employers have asked employees to take a pay cut. Every day we meet candidates who tell us that they are willing to take lower paying positions just to get back to work. When the economy picks up again I suspect many people will leave positions in which they feel underemployed in or underpaid. The million dollar question is when this shift occur?

Many people are working from home after being laid off. Some of these people are making substantially less money than they were when they were employed outside the home. This trend can skew employment statistics. Although these people are employed they may be earning half the salary or less than they did in the past. As a society we need to create more high quality long term jobs to support our families and children in the future.

Governments and provinces need to have a vision and a long term plan. What is going to happen when infrastructure money dries up? Will Ontario’s green jobs programs really create jobs?

We need to take risks. Some risks will work and some will not. Venture capitalists expect only a percentage of their projects to work out. The government needs to create a small business venture capitalist group (not the Business Development Bank). This should be headed by entrepreneurs with real experience and knowledge of what it takes to run a business: SME’s. Together small businesses will create more jobs more quickly than most of the Fortune 500 companies. We still need the big companies to create jobs. But we see that the more agile medium sized companies are doing most of the hiring right now. The larger companies have so many checks and balances in place it is difficult for them to move forward. Big businesses often need to have eight signatures on a single request for a new employee which can take months.

I believe we need to set up “braintrust” groups to offer free advice to new entrepreneurs from successful entrepreneurs. This should be funded by the federal government. Presently the governments are trying to buy our way out of the recession by paying for infrastructure (which is good), but why not put some of that money into helping grow the small and medium sized businesses that are creating jobs now?

We will all benefit by funding small and medium sized businesses in the same way that we support big business.

Sunday, October 18, 2009

Barometer on the Economy

Clients and candidates frequently if we’ve seen any improvement in the economy. The Bank of Canada tells us the economy is recovering. Many economists say the economy is recovering. How do we see it from the front line of the job market?

As an owner of a staffing company I work with small, medium and large businesses in both the public and private sector. This gives me a unique perspective on the economy.
Houses with multiple offers are common in Toronto again, at least in particular neighborhoods. Multiple offers for particular job seekers is happening again as well. Although this is not a frequent trend it is very encouraging. Similar to the housing market people with multiple job offers bring unique skills sets. For example people with functional healthcare knowledge combined with technology skills are highly in demand. iphone developers are also highly in demand at least in the short term. New trends in technology will always generate job openings.

Small and medium size companies are responsible for a small resurgence in the economy. These companies are more nimble and able to accommodate new technologies. The larger companies have more bureaucracy and may be publically traded. This slows down their ability to approve new projects and make decisions.

In the spring of 2010 the economy will make an even stronger come back. This will have a profound on the job market. Many people have stayed in jobs they do not like for the past 18 months. They’ve stayed for security. As the economy surges ahead in 2010 more and more people will be willing to dip their foot into the job market and see what’s out there. This will cause a great deal of turnover within organizations.

Contractors who’ve had their rates slashed by over 20% in some cases will be looking to increase their rates at their present employers or more likely they will be moving onto new contracts. The movement in both contractors and permanent staff will create more opportunities for everybody.

As the economy improves many companies will begin spending some dollars to reopen frozen projects. The combination of permanent staff looking for new positions, contractors looking for new contracts and companies starting new projects will create the perfect storm for the staffing industry.

Key questions: When will this perfect storm take place? As an employer, will you proactively target key staff to keep them in place in preparation for the storm?