Small Business BC (www.smallbusiness.bc.ca) provides Ask an Expert days where you can book one-on-one appointments with a range of professionals so you can ask questions relevant to your business. Below are five Small Business BC experts.
HR: Glen Grant: Principal, HRfx Consulting
Mistakes made by business owners while dealing with employees can cause serious consequences for companies. Some common mistakes are:
•Lack of employment-related documentation;
•Failure to recognize stellar employees and make poor performers aware of their deficiencies; and
•Fast hires, slow fires. Poor hires can lead to a host of problems. At termination, be aware of your legal obligations, but don’t delay the decision.
Rectifying staff-related issues before they become serious can save headaches and expenses.
Accounting: Gabrielle Loren: CGA, Loren, Nancke & Company
One common mistake is that small-business practitioners often don’t get timely tax and accounting advice. Setting up your accounting system, ensuring that you are aware of all the documents that should be kept and confirming that your business has been set up in the most tax-efficient manner are key for any business to succeed. Nothing has to be too complex, but you do have to have a system. Consulting with a professional accountant before you start can save you thousands of dollars, and many offer some of their time for free.
Web development: Angie Yoo: Creative director, Iconic State Digital Agency
Having a great online presence is a crucial part of any business. This is your stage to explain your business to a larger audience and to be found by your prospects. Many business owners tend to underestimate the budget and time it takes to develop their websites. There are great free websites you can use if your budget is low, but do keep in mind that you will be limited in functionality and customization. If you would like a high-quality website, consult a professional to plan out a budget and timeline so you have realistic expectations.
Law: Luca Citton: Associate, Luca A. Citton Law Corporation
A common mistake business owners often make is taking on too much themselves without seeking the right advice. These days, business owners have a huge array of resources available to them and often make the mistake of substituting Google for the advice of a professional. The old adage still applies: “Penny wise and pound foolish.” In today’s market, most advisers are flexible with their fees and willing to accommodate startup budgets. Better to seek the advice of a professional and spend a little now to do it right than a lot later to fix a mistake.
Branding: Angela Bains: CEO, CA Brand Business Development Group
The one mistake many businesses make is not having an overall idea of why they are in business.
Every business needs a strong and consistent purpose behind what it does: a purpose that goes beyond their product or service. This enables a business to become brand-led, and everything it does is aligned to this purpose.
This is what we call having a “big idea”: the “why” behind your business that excites and motivates you. It’s the starting point to creating innovative ideas for adding value, making customers happier and establishing loyalty to your brand.
