December 19th, 2009 — general & admin | by Wendy Rose
This time of year many publications offer their person(s) of the year. People, living and dead, who have made a great impact and should be noted for their contributions to the greater good. I like those which include the household names (e.g. Ted Kennedy) but more importantly I really enjoy the recounts of those who are total unknowns - to explore and appreciate someone just on their merits. The little guy.
Readers of this blog, whether directly or indirectly, have been influenced by the wise words of wisdom from Alice Usher. Alice was my tax accountant and her understanding of Canadian and US, personal and corporate, taxes was unparalleled. But she was more than that: a friend, maternal figure, investment adviser, life coach. You’d be surprised how most of our actions day to day tie back to our “tax strategies” and Alice could see all that. Some key guidance that changed my life:
- Alice was the one who told me to sell all my stock and investments and plow it into my first house purchase and then apply for a line of credit to use in case I needed money in an emergency (I thought I should hold back some cash). That was January 2000 and I made a *ton* of money just before the stock market crashed based on that advice;
- When I give general guidance to incorporate a company but then consult to it (instead of being an employee of it) so that you don’t lose your personal tax deductions for running a small consulting business out of your home - well that was Alice (I got to write off huge portions of my home repairs);
- She figured out the fine line / gray area between greedy and leaving money on the table when it came to tax deductions and was more than savvy when dealing with the IRS;
- Her advice on my retirement investment strategy, for no charge, has governed my personal finances for the last ten years and has survived both boom and busts.
Through referrals Alice took many of you on as a favor to me because she really believed in Business Ready and helping the little guy and agreed that even tax accountants would charge exorbitant fees if they thought they could because, like lawyers, tax accountants are a necessary evil of doing business. I was always thankful that my portfolio companies could have access to such great advice at a reasonable rate. She’d been a respected accountant for five decades!
So, who was Alice? Well, she was New-England born (1940) and Virginia raised, a dual citizen like me, who absolutely loved her Jack Russells. Sure she was a single mom in her late sixties but you’d never know it: her zest for life and keeping on top of new technologies was awesome. She loved the clients I brought her so she could keep “one toe” in the scene. She had three daughters (Donna, Michelle and Chris) who I had met/known throughout school here in Vancouver that each brought a little trouble her way. Hah! But that laugh. Oh, that laugh. Ya, the girls may have brought home the trouble but by the time the story came my way it was just that: a story. She’d seen some tough times too, don’t get me wrong, but she survived it all.
Unfortunately, Alice had a bit of a tickle in her throat last year and was having a hard time swallowing. Upon further investigation it turned out to be cancer. She did the whole chemo/radiation business (while doing all her clients taxes earlier this year - half of them didn’t even know she was going through this!) and thought she had recovered enough to make it to her Christmas Eve/Day dinner rituals (which I was fortunate enough to be included in a few times). Sadly, today, December 19th, 2009, she passed into the mist.
Does this post do her justice? Not at all. But it is better than a two line obit and will hopefully, through the longevity of the internet, keep her in memory - a household name … if only at my house. Definitely someone who was notable. Alice, you will be sorely missed.
December 10th, 2009 — product development | by Wendy Rose
Well, I kinda intended that our 2009 year in review would be the last post of the year but then I saw this today: Oxford Word of the Year is “Unfriend”. Now granted, this is the Oxford American Dictionary which is a little more liberal when it comes to including technology industry jargon but when you look at the other adds (”intexticated”, “sexting”, “funemployed”, “birther”) well it gets a bit much. But to be fair, it is better than when Merriam-Webster crowned “w00t” its word of the year in 2007.
Now you may not know but I have a weakness for reading the dictionary. And, in particular, I am an Oxford English Dictionary (”OED”), the definitive record of the English language, fanatic (yes, I have read the Professor and the Madman, and loved it!, and find it fascinating that one can still contribute to the dictionary today).
The OED is updated quarterly and, in the spirit of things, of the December 10th, 2009 submissions the only one that horrified me was Bridezilla. Why? Because the OED editorial policy “is to retain permanently any word entered into the Dictionary … we seek to maintain a high level of awareness of new and evolving language while reserving judgement about its durability“. So Bridezilla has staying power? Yes I appreciate English is a living, evolving language but really?
On a funnier note, I was explaining the changes to the dictionary today to a friend and she let out a big sigh. Yes! I exclaimed. The injustice! Wherein she followed with: I don’t care about that it just makes Scrabble with my mother that much harder … Hah!
December 8th, 2009 — sales & marketing | by Wendy Rose
Wow! Business Ready manages to make it through another year and it is all thanks to you! It’s crazy to think that without any marketing we have:
It really has been a true joy and we get excited when we see your comments, feedback and general questions.
As far as the top five blog entries vs. last year (four of the five are the same!) we have:
what is burn rate and how do you calculate it - which doesn’t surprise me given the recession we found ourselves in during 2009;
reimbursable car mileage rate - again, I don’t really get this but I find it amusing that it gets so many hits;
how do I calculate diluted earnings per share - it’s true, once you see the math it all makes sense;
how do I calculate volatility for Black Scholes - this will always be a classic as long as we have to determine fair market value;
what is a W8 BEN? - a new entry to the top 5 as our US customers got tighter on asking for
It was all good fun. As far as us, well, I’ve taken on more clients which has reduced the new product rates and Tanya is handling our European operations out of Portugal which requires a lot of her time. Having said that, we still get really jazzed about helping you out and so this little site, for the little guy, will continue to roll on for 2010 and beyond.
SO, THANK YOU and let’s get your Business Ready!
December 3rd, 2009 — services & support | by Wendy Rose
Inspire: to spur on, impel, motivate. Inspiration: the action or power of moving the intellect or emotions - influencing…
Without a doubt every client or opportunity I consider has to inspire me and the vehicle of this inspiration can only be found in the CEO (at my role/level). It seems absurd to have to remind people that inspiration is a key leadership quality! The ability to inspire people to achieve great heights of performance is mandatory for running a small tech company. Passion, purpose, listening and meaning help make leaders inspirational and in turn will get me (the rest of the staff, investors, vendors, etc.) to do about anything for the success of the venture.
seems straight forward … what’s with the emphasis on inspiration today?
I’ve been very fortunate to work with some great CEO’s that inspire me but recently I was approached by an opportunity in which the client wanted me to help (a) raise money and (b) then become their part-time CFO. The idea is interesting and the work would be standard issue but there was something holding me back. And that something was a lack of inspiration. If the CEO doesn’t have passion how can I get them funded? That is the first thing an investor looks for. Also, when you are completely putting in sweat equity inspiration is the only real currency that gets you to show up every day! Why should I work my ass off for someone that is lukewarm on their own idea!?!?
Sure there are loads of management books that I could refer to here to support this thesis but it’s something you already inherently know. Think of this as a reminder.
This CEO is courting some incredible talent in this city to build out her new venture and I’m willing to bet money they will all turn her down because of this lack of inspiration. I have every intention of telling her that’s why I’m turning it down. It’s a shame but it’s a lesson that must be learned.
