Extended warranties. They suck, right? I should know, I sold ’em too. (Well, I sold a type of them when I was doing leases.) Look, we all what the deal is: extended warranties are high dollar gambles that most often sit as piles of cash in a giant vault and the Scrooge McDucks that sell […]
Tag Archives: income
Case study: Increasing profitability with passive income
Businesses survive (and thrive!) by continually generating income. But as a business owner, it’s easy to get caught up in a vicious cycle of performing a service, getting paid for it, performing another service, getting paid for it, etc. That turns into a treadmill because you become dependent on that income and if you are […]
Here’s why I still do my own taxes by hand
It’s tax day today at my house. Most Canadian personal income tax forms are due on or before April 30th, but the exception to that rule is if you own a business in Canada. Then your personal income tax forms are due June 15th. So I’m completing my taxes today and sending them in. (I […]
Passive income versus active income
In this blog post, I want to talk about the differences between passive and active income and how they relate to your business. THE BASIC DIFFERENCE BETWEEN ACTIVE INCOME AND PASSIVE INCOME Active income is money you earn that requires your effort. For example, if you sell a service that you must first complete – […]