View this email in your browser

June 2023 Edition

Happy Friday Business Owners … and, Happy Canada Day! 🍁

Before you head off into the abyss of an epic long weekend, we’ve got a little treat for your reading pleasure. We’ll keep it short this time. 😄

🌱 FROM THINK TEAM

💡 A Primer on E-commerce Accounting

• We’ve cooked up something special for you in our latest blog post - A Primer on eCommerce Accounting for Business Owners.

• Whether you’re just setting sail on your eCommerce entrepreneurial journey or a seasoned small business owner, this guide is your treasure map 🗺️.

• We dive into the intricacies of accounting and bookkeeping, unveil the types of accounting methods best suited for eCommerce, and equip you with an actionable checklist 📋.

• But that’s not all! You’ll also discover best practices to keep your finances shipshape and compliant with Canadian regulations. Chart your course to financial success with confidence and clarity.

• Don’t miss out! Read the full blog post here.

🌎 TOP 5 PICKS FROM AROUND THE WEB

• 5 Things High-Performing Teams Do Differently. (Link)

• Shopify will fight CRA’s request for records of merchants. (Link)

• What Do a Gin Brand, a Soccer Club and a Formula 1 Team Have in Common? Ryan Reynolds.(Link)

• Inflation slowed down to 3.4%. But Interest Rates may still go up. (Link)

• How to properly plan the opening of an FHSA. (Link)

📚 BOOK NOTES

“Traction: Get a Grip on Your Business” by Gino Wickman

In "Traction," Gino Wickman provides practical advice for entrepreneurs and business leaders looking to gain traction and take their companies to the next level. Here are key takeaways:

1. The Entrepreneurial Operating System (EOS): Wickman introduces the EOS, a holistic system for managing any business effectively. It encompasses six key components: Vision, People, Data, Issues, Process, and Traction.

2. Vision: Clearly define where you want your business to go and how it’s going to get there. Make sure this vision is consistently communicated and understood by everyone in your company.

3. People: Surround yourself with the right people. This means hiring individuals who share your core values and have the skills needed for their roles.

4. Data: Focus on data to get an accurate pulse on your business. Use a scorecard and measure activity-based numbers to keep track of your progress.

5. Issues: Become adept at recognizing and solving issues within your organization. Create an open and honest environment where issues can be discussed and resolved.

6. Process: Systemize your business by identifying and documenting core processes. This ensures consistency and scalability.

7. Traction: Bring discipline and accountability into the organization, focusing on executing your vision. This is done through effective meetings, clear priorities, and well-defined roles.

8. The Level 10 Meeting: Wickman introduces the concept of the Level 10 Meeting, which is structured to keep your team focused, solve issues, and gain traction.

9. Delegate and Elevate: Learn to delegate responsibilities effectively to focus on what you are best at. This elevates the entire organization as people work in their areas of expertise.

This book is essential for any business leader looking to streamline processes and create a more efficient, productive, and profitable company.

🤓 QUOTE OF THE MONTH

Subscribe

Copyright (C) " target="_blank">unsubscribe