It was in my opinion a complete waste of time and money. Governments need to be accountable for the money they spend and it is clear that government is to serve the selfish interests of a few elected people. For just a minute, think of what a billion dollars would do to feed the poor, provide housing for those who are on the streets, provide re-training programs, provide lower university fees, provide job creation programs, provide funds for hospitals, provide better education, lower everyone's tax bill, and provide new parks just to give you an idea.

Then there is the policing issue. Secret laws, Excessive force, brutality, and a lack of concern for peaceful demonstrators. Please tell me this is not Canada. It can't be the country where I grew up and paid my taxes is it? Detaining people for 10 - 20 hours. Well, the police sure did earn the title pigs last weekend. Any goodwill they had was gone in minutes and they don't care. Like the rest of the government the police think they are not accountable and can do what they want.

Oh you can be sure the police will rightly point out that these idiots in black were smashing store fronts and in-sighting everyone to accomplish what? So, why didn't they focus their efforts on them instead of people sitting in the street singing "Oh Canada". 

There will be a number of law suits over these meetings and there should be. The damage done to store owners and small business men should be paid by the Federal Dictatorship located in Ottawa. 

So, in the end, what was accomplished. The politicians will lie as usual and tell us that the face to face meeting were wonderful and accomplished much. Bull! The protests accomplished nothing, the meetings accomplished nothing, and the government built million dollar lakes which accomplished nothing.

Shame on our government leaders and police force. For the first time in my life I am embarrassed and not proud to be a Canadian! 

That's the way I see it!

Monty McKinnon

Masterfinancial Planning Services Inc.

www.masterfinancial.com

So, you created a business name, something that  people will remember and something that is easy to spell and a name that relates to what it is that you want to do.

At this point you probably have some idea of what product you want to sell or what service you want to provide. In either case, begin searching on the internet to determine the amount of competition you will have with the business. Also, be sure to check out the local competition because when you do your research on google you will get global answers to your questions. Speaking of questions, I have a few:

Is your product something that can be sold or provided over the internet? If so, your market just became the world. If you are providing a product is this something that will need to be shipped to your customers or is it something that they could download after the purchase procedure is completed? Are you computer literate and can you build a web site? Do you want to build a web site?

Is your product going to require you to carry inventory? If so, how much inventory will you need to carry? 

Is your product something you will manufacture? If it requires manufacturing will the local bylaws allow you to use your home as a manufacturing plant while you get started? Do you have the facilities to manufacture and will the process interfere with your lifestyle at home? How long does it take to manufacture one product? Is this something you can create or will you need to consider hiring some staff to work with you?

Do you have the money to cover your start-up costs? Do you know how much it will cost to get started? Do you know the success and failure rate for a business such as the one you want to start? We are going to talk budgets in another article, so more on that in a little while. 

There's the thing, I do not want to discourage you, rather I want to encourage you. But, you must take the time to investigate before you invest otherwise you could be headed for trouble and yes, there will be more questions.

That's the way I see it!

Do you need to register your business? Good question because a lot of people manage small businesses and don't register them with the government. If you are serious about having a successful small business then there is no question you should register your business.

So, where and how do you register this potentially next major business. If you are planning on operating as a sole proprietorship you can find that in Ontario you can register online with the Ontario government. I am sure it is the same with all the other Provinces and States as well.

A person operating a Sole Proprietorship really has no personal legal protection in the event of a law suit. Should the individual be sued over some business matter the settlement could reach into one's personal assets. In other words, depending on the circumstances an individual could potentially lose everything they own. I am not sure how often that has happened or the likely hood of it happening again.

A Corporation provides the owners with legal protection from damaging law suits during the course of conducting business. In the event of a judgement against a company the company in question could lose their assets but it would not touch the owners. However, the Directors of a Corporation can be sued. So why would you register a Corporation?

A Corporation has more tax benefits and it is a legal entity and files a Corporate tax return. With a Sole Proprietorship the owner takes the income of the company in his/her personal income less operating expenses. This has the effect of significantly increasing one's income level and subsequently placing the individual into a higher personal tax bracket. In short, the individual will end up paying more taxes.

A corporation and a Sole Proprietorship can be registered online as can trademarks and copyrights should these apply to your situation. Be sure if you register online to print out a receipt and proof of registration.

Should you use a lawyer or accountant in this process? Absolutely! It is always smart to get professional advice before you commit yourself to anything and especially if you are thinking of a partnership. The lawyer will get you set up your business properly and the accountant will provide immeasurable help in your daily business.

That's the way I see it!

Monty McKinnon

Master Financial Planning Services Inc.

www.masterfinancial.com

This is an important part of the process of starting your own business. Without taking a hard look at your own personality and entrepreneurial spirit you could be headed for a problem. Take the time to answer the following questions to help you understand what it means to own a business. Not everyone is destined to own a business but most everyone at some point in their lives dream or fantasize about owning a business.

1. Why do you want to be self employed?
2. Do you have a unique product or service?
3. Does your product have enough mark up to cover your expenses and leave you a profit and still be affordable to the consumer.
4. Do you have the correct education to support your area of interest in self employment?
5. Are you married and do you have children or other dependents?
6. How does your spouse feel about your business venture?
7. Are you healthy and prepared to work 40, 50, 60 70+ hours weekly to make your business successful?
8. When you tell your friends and family that you have started a business what will be their reaction to the idea?
9. Have you ever worked on your own before? 
10. What was that experience like?
11. Are you well connected in your field of interest?
12. Do you know how or where to register your business with the government and what it will cost?
13. Do you know a lawyer and accountant who could help you establish your business.
14. Which banking institution would you use and will they be able to assist you in your business.
15. Do you know and understand the difference between a sole proprietorship and a corporation including the advantages and disadvantages of each?
16. Do you have money for investing in your business and are you prepared to possibly lose it?
17. Do you need to find investors to fund your business and if so, where will you look?
18. Most people under estimate the expenses and over estimate the sales when starting a new business. Have you prepared a sales forecast that is realistic, measurable, and attainable?
19. Do you know how and have you prepared a 'bare bones' budget to get you started in business?
20. Again, why do you want to become self employed?

Starting and managing your own business is not easy and requires careful planning and lots of adjustments. If you have the right temperament for it, owning your own business can be very rewarding.

That's the way I see it!

Monty McKinnon

Master Financial Planning Services Inc.

www.masterfinancial.com

In an economy that is recovering from a tough recession finding a job could be difficult. Many employers were forced to lay off workers and look for ways to do the same amount of work without hiring back staff. That means the people left behind are doing more work and the folks who were laid off are out of luck if they are waiting by for a recall to work. So what to do?

It is interesting to read that the iPad came first and from it came the iPhone which seems to have caught on quite well. But, back to the iPad. I bought one when it was released in Canada. I thought that if it was selling so well that they would delay the launch in Canada for a month there must be more to it than I first thought.

It is a giant iphone without the phone part and more. I like the size of the iPad as it is somewhere between a computer and a book. And speaking of books, I downloaded an app (short for application) which was the ESV Study Bible. Oh my...is it ever a winner. All my other bible software that I have bought over the years is obsolete. This is so detailed with a ton of information that displays in a neat and clean window. You can bookmark sections that you want to go back to, you can highlight in multiple colors and write notes and attach your notes to any verse.

The screen can split with the bible in one section and the study notes in another. References and hyperlinks makes the depth of your reading far more enjoyable. The large keyboard allows for note taking during a sermon and any verse in the bible is only 3 clicks away. You open a small window that displays all the books of the bible. Click on a book, click on a chapter, click on a verse and you are there....fast. 

Of course the iPad allows you to download ebooks and read them on the go. When you close your book it opens again right where you left off the last time you were reading.

This business tool will allow you to write documents in Pages and save them as a Word file and it is the same when using Numbers and saving it as Excel or using Keynote and saving it a PowerPoint.

Well, I could go on and on but you get the idea. I think Apple has another winner on its' hands.

That's the way I see it!

Monty McKinnon

Master Financial Planning Services Inc.

www.masterfinancial.com

Dt. 28: 7,8

 We have several examples in the Bible of making use of the good years in a manner that will allow for provision in the lean years.

 Gen. 41:29,30 “Seven years of great abundance are coming throughout the land of Egypt, but seven years of famine will follow them. Then all the abundance in Egypt will beforgotten, and the famine will ravage the land.”

 Proverbs30:25 “Ants are creatures of little strength, yet they store up their food in the summer.”

When it comes to investing the money you are saving each month, be sure to go to an expert who has a successful track record. Never trust anyone to totally manage your money for you. Keep track of what you are doing. 

That's the way I see it!

Monty McKinnon

Master Financial Planning Services Inc.

www.masterfinancial.com

A church needs to put a compelling case in front of the people in the congregation if it wants financial support. With people moving from one church to another, there must be a reason to give. To hang your hat on "giving to the church is the right thing to do" will absolutely leave money on the table. In short, the church looses because they could have had more money donated.

A compelling reason fro giving not only states what the money is going to be used for, but it explains how the money was spent and what was achieved. When people see their money being spent wisely and that there is a good ROI then, they are more likely to respond by giving more when it is needed.

Another thing the church needs to do is be generous with others. Give money to other causes instead of spending it all on the church and comfort in the pew. The church needs to give money to missions, para-church organizations, missionaries, other churches which are struggling financially. The church needs to give to the local community through donations to hospitals, sports teams, benevolence organizations and people in need.

Giving is one of the more important things to do because it not only helps others, and provides a multitude of reasons why people should give to the church but it would please Jesus...since He was all about giving.

Perhaps it is time to plan a summer retreat with the board of your church for the sole purpose of planing how you will tithe the church income to other organizations and churches. If you do this...you'll be amazed at the results.

That's the way I see it!

Monty McKinnon

Master Financial Planning Services Inc.

www.masterfinancial.com

Have you every wondered how many people will take advice and act on it? Well, let's examine fundraising for a moment.

The first three letters in fundraising spell the word fun. It is way past the time to slow down and realize that the sun will come tomorrow and it will go down tomorrow night. Stop worrying about what you can't change or fix. Focus on what you can do and do it. But, somewhere along the process of donor mining to making the big ask stop and have some fun.

Today, why not order in Pizza for everyone in the office and stop what you are doing for 30 minutes. Find out what people are doing for the weekend and what they did last weekend. Better still, call your spouse and arrange a date night and go and see a movie after you take her to dinner. 

There should be a lot of fun in our work and a whole lot less stress. You'll still get the job done but it will be done with a better spirit and you won't be so tired if you just have a little fun. Remember, fundraising always starts with fun.

That's the way I see it!

Monty McKinnon

Master Financial Planning Services Inc.

www.masterfinancial.com