This episode of the Fields of Success podcast I had the pleasure of having Tim Kane from myHSA join me as a special guest. Time is one of the founders of myHSA and has an interesting story. I especially enjoyed Tim recounting what led to the forming of myHSA. During the episode Tim shares very valuable information regarding Health Spending Accounts (HSA or HSAs). We discuss different scenarios where an HSA may make sense for an incorporated business, what are eligible HSA expenses, and how the myHSA platform works. We also talk about some of the additional options that are possible such the bundled coverage options myHSA has put together for their plan participants. If you are an incorporated business owner and do not have an HSA for your company, this episode is sure to be of value to you. As well, for any business owner, Tim’s story of building myHSA is inspiring. Make sure you tune in to the end where Tim shares how he listens to podcasts in double time to go through them faster and glean information from them. Additional resource: The myHSA website can be found here. Tim Kane can be found on LinkedIn here. Brian can be reached via email at bhilt@seedtimeandharvestwc.ca with questions about HSAs.

Fields of Success

Episode 9: HSAs and WSAs for Entrepreneurs: A Benefit Worth Considering

For this episode of the Fields of Success podcast, I had the pleasure of meeting with Bill Ferguson of Ferguson Apiaries near Hensall, ON. Bill and I discussed how he got started in the “bee business” and his journey to the present. He shares how his business has transformed from being primarily honey producing to breeding bees. We talk about bee genetics and Bill does a nice job of using the analogy of a dairy cow to explain it to me. We also discuss some of the hardships that Ferguson Apiaries has had to overcome, both internally within their own industry where there are quite a few hobbyists, and externally with different pesticides and their effects on bees. The podcast is a good mix of information about bees and apiaries as well as the journey of Bill’s entrepreneurship. Enjoy the episode and please share it with your connections to spread the stories of the successful businesses of rural Ontario. As well, if you are near Hensall, I’m sure Ferguson Apiaries would enjoy having you stop by to say hello. Resources: Ferguson Apiaries website

Episode 8: The Business of Bees: Running a Successful Apiary with Bill Ferguson

Thanks for listening to this seventh episode of the Fields of Success podcast. The purpose of this episode, like all episodes, is to provide value for small business owners in rural Ontario. For this episode, I welcomed Bud Arnold, CPA, CA, MAcc. Bud is a Senior Tax Manager with Baker Tilly Guelph Wellington Dufferin. In this episode, Bud and I discuss some of the changes that were brought about with tax laws enacted in 2018, specifically passive income in a Canadian Controlled Private Corporation (CCPC). To begin, we touch on the relevance of this information for all small business owners, even those not incorporated. We then go over some terms related to the topic and Bud defines them. After this we move into some more specifics such as how aggregate investment income and adjusted aggregate investment income are calculated and how this is used to calculate a possible clawback of the small business deduction for CCPCs. We then move on to discuss some practical steps an owner can possibly take to minimize their AAII, things which ought to be considered as part of a thorough financial planning process. As noted, this episode is not individual tax advice, which can only be given after a tax professional knows your situation, so we encourage listeners to discuss this topic with their tax professionals. Bud is active in LinkedIn and his profile can be viewed here. As well if you wish to contact him via email he can be reached at bcarnold@bakertilly.ca. If you’d like to contact me to discuss our financial planning process which looks at all these aspects and coordinates with your tax professionals, I can be reached via my email at brian.hilt@manulifesecurities.ca.

Episode 7: Overview of Passive Income in Corporations and Why It Is Important

This episode of the Fields of Success podcast was incredibly interesting for me as the host. I trust it will be for listeners as well. I was joined for the episode by Dr. Keila Roesner, ND. She is a naturopathic doctor with her own practice in Stratford. Throughout the episode we discussed how she became interested in naturopathic medicine, what naturopathic medicine is, and how she has built her practice. I think we often view building a medical practice as an easy thing. However. Keila built her business from scratch like any other entrepreneur. She didn’t have a roster of clients handed to her or anything. As well, her “product” has many intangible aspects to it, which a client really doesn’t know until experiencing it. I found this was similar in a lot of ways to financial planning, which we discussed on the episode. At the end of the episode, Keila mentions a book she recently read titled Reading People, which can be found here. As well, if you would like to contact Keila you can find her on Facebook or via her website. I think there are applications from this episode that can be taken and applied to a plethora of businesses. I hope you enjoy listening.

Episode 6: Building a Naturopathic Medicine Practice in Stratford with Dr. Keila Roesner, ND

In this episode of the Fields of Success podcast I had the opportunity to discuss social media marketing with Nichole Howson, owner of AIM Social Media Marketing. Listen in as we discuss how Nichole came to start AIM Social Media Marketing, and then as we delve into some of the basics of social media marketing for business owners. Throughout the episode we discuss some of the current trends on social media, what social media networks exist, and why it is important for a business to have a presence on social media, especially with millennial consumers. We also discuss the importance of being consistent and sharing quality content and some of the tools that can be utilized to help schedule posts. I learned a lot from the discussion with Nichole, and I’m sure there is something for listeners to take away and apply as well. If you’d like to contact Nichole, you can do so through the various forms of social media or her company’s website, which is linked to below.   Resources: AIM Social Media Marketing website DotCom Secrets: The Underground Playbook for Growing Your Company Online

Episode 005: Social Media for Small Business with Nichole Howson

In this episode of the Fields of Success podcast I was joined by Chris Vankoughnett of Apex Helicopters Inc. based out of the airport in Wingham, Ontario. Apex Helicopters Inc. has an inspiring story, and I truly enjoyed chatting with Chris. Listen in to hear the story of the divine guidance that led to the start of Apex Helicopters Inc., some of the challenges that were encountered, what the biggest challenges are presently, and what the future for Apex Helicopters Inc. looks like. Throughout the discussion, Chris shares some insights that can definitely be applied to other businesses including referring to the clip from YouTube linked to here where Steve Jobs describes his passion for his work. Meeting Chris and learning about his story and that of Apex Helicopters Inc. was really enjoyable. I hope you find it an enjoyable episode to listen to as well. You can find out more information about Apex Helicopters Inc. at their website www.apexhelicoptersinc.com . From there you can email Chris with questions about their services. If you enjoy the episode, please take a moment to leave a review on iTunes and share the podcast with your connections. Let’s build rural Ontario business together.

Episode 004: Turning a Love of Flying into a Successful Business with Chris Vankoughnett of Apex Helicopters Inc.

Welcome to the third episode of the Fields of Success podcast. In this episode, it was my privledge to have a discussion with Marlow Gingerich, a Gift Planning Consultant with Abundance Canada, about charitable giving strategies for business owners. Certainly there is much in this episode that applies to those who are not business owners as well, but we do discuss a few strategies that are specific to business owners. We discuss the concept of “giving out of different pockets” and what those pockets could be. We touch on cash giving, donation of appreciated securities, using life insurance for donations, and donating private company shares. Marlow also shares some of the advantages of utilizing the services of Abundance Canada and relates some stories and scenarios for the listeners. I found this discussion to be very rewarding, and I hope you will find it valuable. If you would like to reach out to Marlow, he is active on LinkedIn where he shares timely content. You can find a link to his LinkedIn profile as well as the Abundance Canada website below. If you have any questions about this episode, or any suggestions for future episodes, please email me at podcast@seedtimeandharvestwc.ca.   Links: Marlow’s LinkedIn Profile Abundance Canada Website

Episode 003: Charitable Giving Strategies for Business Owners with Marlow Gingerich of Abundance Canada

During this episode of the Fields of Success podcast, Brian Hilt has a discussion with Ian Cubitt, founder of Ian Cubitt Professional Corporation. Ian is a Business Transition Coach who guides entrepreneurs through the various aspects of their business transition. According to Ian, "Most people struggle to maintain harmony during their business transition. I will guide you through the emotional, relationship and financial complexities so you can have harmony and success in your business transition." Along with his sincerity and ability to listen and communicate, Ian has an extensive education and background in tax and accounting with large international accounting firms. Putting this all together results in an incredible service offering for entrepreneurs looking at a future business transition. In this episode we discuss Ian’s journey to launch his practice. Ian also provides input into what he offers, common issues he encounters, and how he prices his services. We discuss value-based pricing, the Product Launch Formula which Ian followed, and how to get started working with Ian. Along the way, we discuss some books that Ian recommends (see the show notes), and Ian shares some wisdom for aspiring entrepreneurs. Additionally, Ian extends an offer to share his one-page summary of Ron Baker’s book Implementing Value Pricing: A Radical Business Model for Professional Firms. Simply email him, mention you heard this episode, and he will email it to you.  Enjoy the episode, and if you have any questions feel free to contact Ian or myself. Ian’s email: ian@iancubitt.com Ian’s website: http://www.iancubitt.com   Resources: Implementing Value Pricing: A Radical Business Model for Professional Firms (Ron Baker) Splitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives (Ron Blue) Quitter (Jon Acuff) Start (Jon Acuff) Product Launch Formula website

Episode 002: Discussion with Ian Cubitt, Business Transition Coach and Owner of Ian Cubitt Professional Corporation

This first episode of the Fields of Success podcast is an introductory episode to the podcast. In this episode your host, Brian Hilt, speaks briefly about the vision and goals of the podcast, what future episodes will cover, and then closes with an overview of his background. Take a few minutes to listen to this episode and subscribe to receive new episodes as they are released. 

Episode 001: Introduction to the Fields of Success Podcast with Brian Hilt

The Fields of Success podcast brings you behind the scenes to hear real success stories of rural Ontario businesses and brings you insights from leading consultants about different aspects of running a successful business. Whether you are an aspiring entrepreneur looking for inspiration or an experienced business owner there are insights and ideas to take away. Subscribe to the show and learn more about the host at www.seedtimeandharvestwc.ca.

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