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Happy Thanksgiving to our American tenants and blog followers

We want to wish our American office space Toronto tenants and our American blog and social media followers a very happy and fulfilling Thanksgiving. For our Canadian blog and social-media followers, we wanted to give a quick explanation of why Canadian Thanksgiving is celebrated on the 2nd Monday of October, and why American Thanksgiving is celebrated on the 4th Thursday in November. The most common-sense answer is that, due to Canada’s northern climate, our harvest season is earlier – but that is a very basic answer. What is not commonly known is that English explorer Martin Frobisher hosted the first Canadian Thanksgiving in 1578, and that the first American Thanksgiving was not celebrated until 43 years later in 1621. It was not until 1941 that President Franklin D. Roosevelt sign...

Starting a serviced-based business from home

In our previous blog Starting Your Home-Based Business, we pointed out that service-based businesses make up the majority of the most profitable small businesses you can start. We all have our own skill set and areas of expertise. The trick is to find the knowledge and skill set that you have that others are willing to pay for. Sometimes it is not your skill set, knowledge, experience or expertise that you could be selling. It could be that of others or products and services of others! You may not be an accountant, bookkeeper, tax specialist or be able to provide payroll services, but that does not mean that you cannot be the person who introduces those who need these services to those who can provide them. Just like a real estate agent does not own the property he or she is selling, you c...

Starting your home-based business

One of our office-space tenants who follows our blogs, asked us to do a blog series about home-based businesses because her husband took early retirement and wanted to keep busy at home. We want to first talk about the most profitable home-based business and what it takes to start one. Other topics in the series of posts will include: home-based retail (online); at-home wholesale and distributions businesses; and running a consulting business from home. Let’s start with talking about what are the most profitable and easy-to-start home-based businesses. Not surprisingly, the most profitable home-based businesses do not require a great deal of equipment, holding an inventory of goods or even renting office space. But you may want to pull out your calculator (or abacus) for the very top...

Using Business Centres as Contact Points for National & International Market Expansion

There are a lot of ways to break into new markets and attract new customers – from selling through a third party to setting up an office on the ground in that market. The main goal of expanding into a new market is to increase your sales and market share, but you will get less resistance from the market if you are seen as being local. You can get distributors to buy your product and then sell it to their own customers, therefore customers see themselves as dealing with a local company. This also means not having direct control over the selling, branding or marketing strategies that the distributor uses, essentially meaning that you do not have direct input on how your product will be represented in that particular marketplace. You could buy or merge with a local company in that market, eve...

Things you could have done in 2016 (and still can) to grow your business

With only a month and a half left in 2016, there is still things you can do before years end that will help to grow your business in 2017. Most small business owners feel that they can not afford to lose a customer, but what if that customer is taking up most of your time or that of your staff (without paying more than other clients)? It might be time to fire those clients or customers whose business only causes daily stress to you and your team, this could free up more time for new customers who are less demanding and easier to deal with. While you are firing bad customers who are time wasters, you want to take that time and concentrate on reaching out to new prospects. You will be surprised how many customers you can get by cultivating your list of prospects on a regular basis, because t...

Toronto Office Space for American Businesses

Toronto Office Space for American Businesses For those thinking of relocating their business to Canada A sense of shock still hangs in the air. People are contemplating their futures in the midst of extraordinary change. Several times on election night, the server hosting the Immigration Canada website crashed under the load of Americans considering leaving the United States temporarily or permanently. Even before the election, the Telsec Business Centre in Toronto has fielded calls from American businesses looking to expand into the Canadian market. In the last week, Telsec has taken calls from businesses concerned about their foreign business relationships. Telsec has a short primer on Doing Business in Canada and a number of blog posts over the previous months. Entries such as like Regi...

Lest We Forget on this Remembrance Day 2016

Today is Remembrance Day. At the 11th hour of the 11th day of the 11th month, we take time to remember those who gave their lives in various wars in the defense of our freedoms as Canadians. This blog entry is dedicated to the soldiers who died in battle and those veterans who have served their country, as well as those who are currently serving. Remembrance Day was first observed in 1919 throughout the British Commonwealth. It was originally called “Armistice Day” to commemorate armistice agreement that ended the First World War on Monday, November 11, 1918, at 11 a.m. – on the eleventh hour of the eleventh day of the eleventh month. Many people wear artificial poppies on their clothes in the weeks before Remembrance Day. Red poppies symbolize the memory of those who died. On November 11,...

How not to kill your small business

We have all heard about business best practices. But what about things that you should not do if you want your business to thrive? Remember that having good business practices and not bad ones, will help prevent you from losing customers and from getting bad online reviews and negative comments. As we mentioned in another blog posting called “The Professional Image Of Your Small Business Begins With You”, we mentioned that a small business can only look as professional as the people who are running it. You can be perfectly dressed for the job at hand, but if you have a “pottie” mouth, or make racist or sexist remarks, you’re going to lose a lot of business trust and respect. Not answering your phone or allowing your business phone to be answered by a child, ca...

Small business survival: The numbers don’t lie!

If you speak to people who know business statistics, you will hear them say that many small businesses will fail within the first five years. These facts are a contributing factor to people buying long-established businesses in order to gain a higher chance of success compared to a start-up. So what are the odds of surviving more than five years? There are government organizations who keep statistics on this. According to the U.S. Bureau of Labor Statistics, “About half of all new establishments survive five years or more and about one-third survive 10 years or more. As one would expect, the probability of survival increases with a firm’s age. Survival rates have changed little over time.” These statistics are backed up by the Small Business Administration (SBA), who state that nearly 66% ...

Small business owner productivity tips

There are plenty of terms that are touted around the business world like efficiency, but finding their meanings is not as easy as using them. So what do words like efficiency mean? If you Google efficiency, this is what you will get: “the state or quality of being efficient” and “greater energy efficiency.” Synonyms: organization, order, orderliness, regulation, coherence; More an action designed to achieve this. Plural noun: efficiencies “to increase efficiencies and improve earnings.” Technical – the ratio of the useful work performed by a machine or in a process to the total energy expended or heat taken in. It is also short for efficiency apartments.* In your Google search you will also see what Wikipedia says: “Efficiency is the (often measurable) ability to avoid wasting materials, e...