28 BCBusiness september 2014 illustration: graham roumieu
1. studies show that taller people earn
more money, so don't be shy with the
sky-high heels—that includes both
men and women.
2. exude ambition by one-upping each
of your boss's outfits.
3. if you bike to work, don't change out
of your gear—socially conscious employ-
ees are a boon to any business, and your
biking duds will garner recognition.
4. sandals are oK for both men and
women, so long as you sport toenail
polish and adornments to class up your
overall look.
5. thanks to mark Zuckerberg, hoodies
in the workplace now mean "billionaire
genius" rather than "i've given up."
6. save your sharpest outfits for Casual
Fridays—you'll stand out from the pack
and make your colleagues look like slobs.
v i s u a l l e a r n i n g
How to Dress
for Success
business, you haven't lost a lot of it to
taxes. That part's important because
every business that's growing needs
more money to run the business."
Succession Planning
"Always be ready to sell. Always be
ready to exit from your business,"
advises Savage, adding that succession
planning should start when your
business launches. "I'm a really big
proponent of people recognizing that
exiting the business may not be at a
time of their choosing, so they need to
be ready." That means keeping records
up-to-date, having well-documented
policies and procedures, and getting a
business valuation.
Nicola, meanwhile, acknowledges
that most owners aim to sell their
business upon retirement. He
recommends starting succession
planning within five to 10 years of
when you expect to exit the business.
"It's a lot easier to get into a business
than it is to get out of a business," he
says. For all entrepreneurs, Nicola says
a shareholder plan between partners
is essential to define the terms when
someone wants out. "They need
to have a road map that explains
how that's going to work, because
eventually it is going to happen."
According to Savage, "there are
lots of unsolicited offers being given
to business owners, especially from
people who are looking to facilitate
immigration by buying a business.
People need to be ready."
•
1
2
3
4
5
6
How to Incorporate
Reserve the company name
with the corporate registry
bcregistrynames.gov.bc.ca
File an incorporation application
with the corporate registry
corporateonline.gov.bc.ca
Establish the company's
articles (rules that govern
the company's conduct)
Enter into a
corporation
agreement
1 2 3 4
