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Trusted Saskatoon Financial Advisors at Wiegers Financial & Benefits Explain The Importance of Succession Planning

21. Nov 2023 Admin Saskatoon Financial Services, Trusted Tips

Wiegers Financial & Benefits is one of Saskatchewan's largest private financial planning and employee benefits consulting firms. Their Financial Planning Division provides business owners, households, retirees, and students with expert investment and insurance planning services to help them reach their long-term financial goals. They also have a Benefits and Personal Insurance planning division. 


THE IMPORTANCE OF SUCCESSION PLANNING


Whether it’s a well-loved breakfast diner that feels like the hub of the community or a factory that manufactures safety shoes and work gloves, creating and growing a small business is incredibly rewarding and requires a lot of hard work. After toiling long hours to become successful, most owners want the business to continue thriving long after they step away.

A carefully crafted succession plan is important to any successful small business. It can help you clearly identify your company’s goals, protect the business's legacy, plan for the unexpected, and prepare for the financial security of your family and employees. The planning process can feel overwhelming at first, but carefully considering all aspects of your business is time well spent.


GETTING STARTED

There’s no time like the present. Succession planning can clarify how you visualize your future success, even if you just opened the doors to your business. Planning helps you narrow down your goals and objectives, identify the right person to take over one day and prepare for financial setbacks.

Bob Labrecque, a succession planning consultant with Manulife Securities, says business owners often wait too long to begin the planning process, starting when they’re only three or four years away from retirement. “A good succession plan is a five-to-10-year strategy of building the business, and then transferring ownership while it’s in a growth phase – not in a maturity or a declining phase,” he says. “And you want a team of experts in place to help make this happen. An advisor is a key member of this planning team.”

The first step in developing a business succession plan is to self-reflect and ask yourself some critical questions. Consider the following:

  1. When would you like to retire or step back from running the business?
  2. What kind of future would you like to see for your business?
  3. Do you have a successor in mind with a mentoring plan in place?
  4. Are there any weaknesses in your current business operations that must be addressed?
  5. What is your plan for handling unexpected events, such as illness, financial difficulties, or the retention of top employees?
  6. Do you have a team of financial and legal experts to help you with the planning process?

 

ESTATE PLANNING AND TAXES

Even though running a successful business can occupy your full attention, looking at the bigger picture and how a business succession plan dovetails into your personal plans is essential. An advisor can help determine a company's financial value and opportunities for growth and also help with retirement and estate planning.

A business owner hoping to step down must plan for adequate retirement income to maintain his or her desired lifestyle, put a savings plan in place to cover future expenses such as a child’s education, and set up life and disability insurance plans so loved ones are well cared for in the event of severe illness or death – all while maximizing tax-planning opportunities.

 

MANAGING EMOTIONS

As you are getting your succession plans down on paper, don’t discount the emotional impact that this major life event might have on you and the entire organization. Labrecque says leaving can be very difficult and emotional for many business owners.

 “Quite often, for a first-generation business owner, this is their baby, and there can be strong protective feelings that nobody else can do what they do.” 

Owners have some crucial decisions to consider:

  • Take an honest look at who can lead the business and compile a short list of candidates
  • Create a succession team to help navigate the financial, legal, and human resource aspects of the transition
  • Explore new opportunities for the organization to ensure continued strength and growth
  • Establish a co-lead to allow the current owner to begin stepping back into a lesser role

If the intent is to transition the business within the family, a specialist called a family facilitator might also be helpful. 


“Family transfers are the most complicated because they involve not only the business but the family dynamics,” says Labrecque. “Families also need to have honest discussions about whether children even want to take over the family business. They may want the money and the lifestyle but do they find the work interesting?”


WINDING DOWN

As a business owner prepares for retirement, there might still be an opportunity to stay involved and active but at a slower pace. A step-down approach is possible, where the ownership is transferred, but the owner stays on in a limited capacity for a set duration to help with the transition. After a lifetime of work, the boss can gradually ease into retirement rather than giving up everything all at once.

Succession planning can be a rewarding process that sets the tone for your business's overall success. For more information about getting started on a succession plan, please contact Wiegers Financial & Benefits to speak with one of our experienced advisors. 

The opinions expressed are those of the author and may not necessarily reflect those of Manulife Securities Investment Services Inc.

Ensure a Successful Home Purchase With Trusted Saskatoon Realtor Marla Janzen

5. Nov 2023 Admin Saskatoon Real Estate, Trusted Tips

Marla Janzen is an award-winning SASKATOON & WARMAN REALTOR. She takes action to sell her client's homes and find them the perfect new place to live while negotiating the best terms and price possible. She loves what she does and takes great pride in providing excellence in customer service to all of her clients. Marla Janzen is a TRUSTED SASKATOON REAL ESTATE AGENT and she is eager to provide Trusted Saskatoon real estate Tips that help the public! In her latest real estate advice, she shares tips to ensure a successful home purchase. 


Tips To Ensure A Successful Home Purchase

Are you currently in the market as a buyer? If so, you already know that multiple offers are a thing.


Here are a few tips to ensure a successful home purchase.

✅ Be clear about your budget and what you want and need in a property is super important, so when the right one comes up you will be ready to make a move on that property. 


✅ Being pre-approved and ready to roll with your deposit ready to go and down payment ready. 


✅ Being available to view on short notice is a huge bonus in a market with low supply. Getting into new listings early can often make the difference in a successful purchase!


✅ Working with an experienced and trusted realtor is important! 

Having an agent who knows and understands what you are looking for is a huge help in the buying process. We can help you navigate all of that … especially in a multiple-offer situation.


Reach out if you have any questions. I have been successfully helping people in real estate for 18 years now, in Saskatoon and area. I’d love to chat.


Marla Janzen has a keen eye for house layout and home staging, which really benefits her clients, most of whom are past client referrals! She guarantees to provide you with a stress-free, hassle-free, wonderful experience and we are sure once you have met her that you will not contact anyone else!

Marla Janzen is a TRUSTED SASKATOON REALTOR®

Custom Guitar Cases From Trusted Saskatoon Custom Bag and Case Experts!

4. Nov 2023 Admin Saskatoon Retail, Trusted Tips

Saskatoon Bag & Case are your Trusted Saskatoon Custom Bag & Case Experts! They specialize in custom designs of high-quality and durable bag and case products. They work with any industry, including sports teams, work crews, company promotions, and music and audiovisuals. In their latest article, they discuss custom guitar cases.

Custom Guitar Cases from Saskatoon Bag & Case


Our custom guitar cases are popular among musicians who want to provide optimal protection and personalized touch for their valuable instruments. Here's an overview of custom guitar cases:


1. Customization: Custom guitar cases allow you to design a case tailored explicitly to your guitar's shape, size, and unique features. This ensures a perfect fit and maximum protection. You can choose from various customization options, including the exterior material, colour, hardware, interior padding, compartments, and additional features like built-in storage, straps, or locks.


2. Protection: Custom guitar cases prioritize protection by using high-quality materials and construction techniques. They are designed to safeguard your guitar from impacts, temperature changes, humidity, and other potential hazards. The interior foam padding can be customized to fit the exact dimensions of your guitar, providing a snug and secure fit that minimizes movement during transportation.


3. Style and Aesthetics: Custom guitar cases allow you to reflect your style and taste. You can choose from a wide range of materials, colours, finishes, and hardware options to match your preferences or coordinate with your guitar's appearance. Whether you prefer a classic, vintage look or a more modern and vibrant design, customization allows you to create a case that complements your instrument's aesthetics.


4. Portability and Convenience: Custom guitar cases can be designed with additional features to enhance portability and convenience. This may include comfortable handles, wheels for easy transportation, or extra storage compartments for accessories like cables, picks, or pedals. These features make it easier to carry and transport your guitar and associated equipment.


5. Professional Presentation: Custom guitar cases offer a professional and polished presentation when travelling or performing. A well-designed and personalized case can make a positive impression and add to the overall image and branding of your musical act.


To obtain a custom guitar case, you can explore various options. We specialize in creating bespoke cases tailored to your specific requirements. We will typically work closely with you to understand your needs, preferences, and the specifications of your guitar. Through a collaborative process, we can design and fabricate a custom case that meets your expectations.


It's important to note that custom guitar cases often come at a higher price compared to standard, off-the-shelf cases. However, the added protection, customization options, and personalized experience make them a worthwhile investment for musicians who prioritize the safety and uniqueness of their instruments.


There is no better place to buy personal or business cases and bags in Saskatchewan than Saskatoon Bag & Case. Their service is exceptional and their products are the best!

“If you Need It Covered...They’ve Got It Cased!”  







CNC Router Services from Trusted Saskatoon Bag & Case Experts

4. Nov 2023 Admin Saskatoon Retail, Trusted Tips

Saskatoon Bag & Case are your Trusted Saskatoon Custom Bag & Case Experts! They specialize in custom designs of high-quality and durable bag and case products. They work with any industry, including sports teams, work crews, company promotions, and music and audiovisuals. In their latest article, they discuss their CNC Router Services. 

CNC Router Services at Saskatoon Bag & Case 


CNC (Computer Numerical Control) router services involve using a CNC router machine to cut, shape, and engrave materials with precision and accuracy. CNC routers are versatile tools used in various industries, including woodworking, manufacturing, signage, prototyping, and more. We can custom router a large variety of materials for your specific application. SBC can supply the material you require routered or the customer can provide it themselves.


CNC router services can be utilized to produce cases and inserts, offering precise cutting, shaping, and customization capabilities. Here's how CNC router services can be applied:

  1. CNC routers can accurately cut various materials such as wood panels, foam, and plastics with high precision, ensuring consistent and accurate results.

  2. Inserts and Dividers: Custom foam inserts and dividers for bags and cases can be produced using CNC router services. By cutting foam to precise shapes and sizes, CNC routers can create inserts that securely hold and protect items. This is particularly useful for delicate and valuable items, providing added cushioning and organization.


When utilizing CNC router services for bags and inserts, it's essential to provide accurate design files and specifications is crucial to achieve the desired results.

Just send us your .dxf or .dwg file or send a sketch or the part(s) needed, and we will draw them up for you.


There is no better place in Saskatchewan to buy personal or business cases and bags than Saskatoon Bag & Case. Their service is exceptional, and their products are the best!

“If you Need It Covered...They’ve Got It Cased!”  




Relieve Neck Pain With A Thai Massage From Trusted Saskatoon Sirius Health Thai Massage Experts

2. Nov 2023 Admin Saskatoon Health & Wellness, Saskatoon Massage, Trusted Tips

Sirius Thai Massage Clinic in Saskatoon is committed to providing authentic Thai massage practices to get excellent mobility, flexibility and pain relief results that traditional massage may not be able to achieve. They're certified practitioners provide a variety of Thai-style massage modalities that last from 30 to 180 minutes. In their first tip, they share how you can relieve neck pain with a Thia massage.



Relieve Neck Pain With A Thai Massage


People who sit at a desk or on mobile devices all day may find themselves using poor posture which results in back and neck pain.


One of our customers’ most common ailments is neck pain caused by our modern, sedentary lifestyle. Whether at work, at a computer, or at home, watching movies on a mobile device, we do our neck a great disservice, leading to sharp, stabbing neck, shoulder, and upper back.


The main reason these activities cause pain is that we often have very poor posture as we do these activities. Whether sitting at a desk with a chair that is too low or too high or holding a mobile device in front of you on your lap and looking down at the screen, you are straining the muscles and tissue structures surrounding your neck or cervical spine. Over time, that strain leads to neck pain.


The most common symptoms that clients describe are:

  • Localized pain in the upper back, shoulders and lower neck
  • Jaw pain
  • Mild or even severe headaches
  • Pain when tilting the head forward and down
  • Tingling sensation or even numbness in the arms and hands

Neck pain can be severe, but even when minor, it can profoundly affect your quality of life. So, a Thai massage for your neck is more than a luxurious treat; it’s a therapeutic solution. First, acupressure and stretching in a Thai massage will improve blood circulation, which helps ease pain. A Thai massage will also help reduce the stiffness in your neck and shoulders, restoring your range of motion.

But while regular Thai massages can provide much-needed relief, you should also take steps to prevent neck pain. The essential thing you can do is to focus on improving your posture. Take a good look at your workplace and incorporate any ergonomic adjustments you need to improve how you sit at your desk.

Another workplace tip is to incorporate short stretching breaks into your day. You can watch many short stretching videos online or ask your Thai massage practitioner about special neck exercises you can perform at work or home. You don’t have to spend more than a few minutes every few hours doing these stretches, but they will significantly affect your problems.

When you get home from work, try to reduce your screen time, especially with mobile devices that you hold in front of you. Looking down at a phone or tablet is even worse for your neck than sitting at a desk, so don’t add to the trouble by continuing to strain your neck after work.

Another simple way to reduce neck pain is to reduce your stress. While practising qigong or meditation is an excellent way to offset sitting at a desk, these activities take time to develop discipline. So start by ensuring that you give yourself time for quality sleep. Sleep is one of the best ways to reduce stress, giving your body time to recover.

Thai massage is a good antidote for neck pain caused by our sedentary lifestyle. However, taking the time to alleviate tension and stress in your neck muscles can improve comfort, and overall well-being is equally important.


If you seek a holistic healing practice that focuses on energy-based therapy, incorporating techniques such as stretching, compression, and acupressure in Saskatoon, Sirius Health Thai Massage Clinic is your destination. Your well-being will noticeably improve after your visit, with the benefits continuing to unfold in the following days.

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