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Sep 2023 Edition

Before we dive into this month's insights, here's a quick one for you:

Knowledge is knowing that a Tomato is classified as a fruit.

Wisdom is knowing not to put it in fruit salad! 😃

As a business owner, having the technical skillset and know-how of your industry is important. But don’t stop there.

Spend the time to put your customer first and think about how you can apply the knowledge to your customer’s benefit. And that is wisdom!  🚀😎

🌱 FROM THINK TEAM

💡 Capital Dividend Account (CDA): Tax-Free Withdrawal

• What is CDA and how is it calculated?

• Is CDA a tax-free withdrawal from your corporation?

• What do you need to know before you do CDA withdrawal?

• Do you report CDA withdrawal on your personal tax return?

• What’s the deadline to file CDA withdrawal forms?

To get answers to these questions, click the link below to read our blog post:

Click Here

⏰ REMINDERS: THE CLOCK IS TICKING

1. UHT Return - Do you own real estate in a corporation or as a non-resident? Deadline to file your return is Oct 31, 2023. Read our blog post here.

2. CEBA Repayment - want to get the loan forgiveness? Repay the loan by Jan 18, 2024. Read our blog post here.

3. 100% Depreciation Deadline - 100% depreciation on qualified assets is only valid until Dec 31, 2023. This starts phasing out in 2024. Read more here.

4. Apply for Xero Beautiful Business Fund - Upload a 90-sec video and fill out a form! Deadline is Oct 6, 2023. Read more here.

🌎 TOP 5 PICKS FROM AROUND THE WEB

• Three Key Elements to Building a $60 Million HoldCo. (Link)

• 10 KPIs That All Amazon Sellers Should Track. (Link)

• 58 best businesses to start with $10K or less [2023] (Link)

• Why We Choose Profit. (Link)

• What is a Business Roadmap? (And How to Create One). (Link)

📚 BOOK NOTES

"21 Indispensable Qualities of a Leader" by John Maxwell

🔐 Key Takeaways:

1. Character Craftsmanship 🛠️

   1. Leadership begins with inner strength and values. A solid character forms the foundation for enduring leadership.

   2. Be authentic and uphold integrity in all interactions.

2. Visionary Voyage 🚀

   1. Great leaders have a clear vision and the ability to share this vision compellingly with others.Foster a shared understanding of the organization's long-term goals and inspire others to work towards them.

3. Embrace Empathy 🤝

   1. Understanding and valuing the emotions and perspectives of your team is crucial.

   2. Create a supportive environment where individuals feel valued and heard.

4. Resilient Resolve 💪

   1. Resilience in facing challenges and recovering from setbacks is a hallmark of a strong leader.

   2. Encourage a culture of resilience and continuous learning within your team.

5. Communication Clarity 🗨️

   1. Effective communication is key to leading successfully.

   2. Ensure transparency and openness in conveying information, listening actively, and encouraging feedback.

6. Adaptability Agility 🔄

   1. Embrace change and be willing to adapt when necessary.

   2. Promote a flexible mindset within your team, valuing innovation and adaptability.

7. Continuous Curiosity 🧠

   1. Never stop learning and encourage a culture of continuous improvement and curiosity.

   2. Foster an environment that values knowledge sharing and professional growth.

8. Decision Determination 🎯

   1. Decisive leaders analyze situations thoroughly and make informed decisions promptly.

   2. Cultivate a decisive yet thoughtful approach in your leadership style.

9. Servant Spirit 🤲

   1. Servant leadership emphasizes the importance of serving others to achieve collective success.

   2. Prioritize the needs of your team and work towards the common good.

🤓 QUOTE OF THE MONTH

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