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Can a Book Change Your Life for the Better?

November 22, 2014 | Christina | Comments (0) Facebook Twitter More...

Think and Grow Rich
Satish Verma, guest speaker at TPL's Entrepreneur in Residence program How to Realize Your Dream on Wednesday, November 26th, discusses Napoleon Hill's secrets of success that have inspired Andrew Carnegie, Oprah Winfrey, Sunny Verma, and many other entrepreneurs today.

After bankruptcy, Satish read Think and Grow Rich by Napoleon Hill, a book which changed his life for the better.  He was able to crawl out of poverty and create many multi-million dollar businesses and now teaches others how to do the same.


Learn how to create your destiny through entrepreneurship in this mind-opening seminar with Sunny Verma.  All are welcome to attend.  The program is free.

How to Realize Your Dream

Sunny Verma, TPL's 2014 Entrepreneur in Residence
Sunny Verma, TPL's 2014 Entrepreneur in Residence

Wednesday, November 26, 2014
6:30 pm - 8:00 pm
Toronto Reference Library - Elizabeth Beeton Auditorium - 1st Floor


For other inspiring books by Napoleon Hill, check out the following titles:

    Success through a Positive Mental Attitude         Outwitting the Devil            The Law of Success
Success through a Positive
Mental Attitude
     Outwitting the Devil The Law of Success

Additional titles by Napoleon Hill.

Always Think Big

November 14, 2014 | Christina | Comments (0) Facebook Twitter More...

By Sunny Verma

Sunny Verma is the Toronto Public Library's 2014 Entrepreneur in Residence. Sunny, founder and CEO of TutorBright, is an advocate of self-employment, dedicating his time to help individuals realize their dreams through entrepreneurship.



sky

The first time I can recall intuitively understanding what the words “Whatever the mind can conceive, and believe, it can achieve,” meant, I was a 5-year-old boy living in the squalors of India.  A distant uncle visited us, and generously took my brothers and I to our first western movie. 

It was a James Bond show.  One scene in particular struck a chord with me - James Bond (in those days played by Sean Connery) was in Zurich having coffee on a sidewalk cafe beside a very beautiful river with a stunning blonde woman.  It was the first time I had the opportunity to see what life outside my tiny, slummy neighborhood looked like, and I longed to escape.  I left the theater believing without a doubt that one day I was going to visit Zurich, and have a coffee on a sidewalk river café, just like James Bond.  Keep in mind, I was a very poor child, being raised by a single mother in the lowliest neighborhoods in India.  At that time, to the outsider looking in (and even to the insiders I lived among) the chance of me ever leaving those dirt streets I called home was next to nothing. 

But the image stuck in my mind until it was tattooed onto my brain. The years went on, and I got the opportunity to attend a Canadian university through a scholarship.  As I was making my travel arrangements (to leave the home almost everyone told me I would be chained to) it occurred to me that I was going to be flying across the world.  Surely, at some point along that route, I would come close to Switzerland.  On a whim, I asked the travel agent if it would be possible to make a stopover there.  Somehow, he managed to make this work!

As I sat on a sidewalk café situated along Zurich’s beautiful river Limmat, sipping my coffee on a sunny fall day, it flashed through my mind that the longing I held for almost 15 years had come to fruition. Through one tiny seed of thought, backed by childlike faith, some unknown force had orchestrated this very moment.   

As I embarked on my journey, I truly felt that whatever my mind could conceive, and believe, it would achieve.  Armed with this knowledge, I wondered why I had limited my dream.  While sipping coffee on that sidewalk café was truly a symbol of how far I had come, my only minor regret was not adding the detail about the gorgeous blonde woman sitting across from James Bond to my vision (if my wife is reading this, this is joke).

All of us should dream big.  So why do so many of us settle for pennies? Our limitations are only in our minds. 

Finding a Mentor

November 12, 2014 | Christina | Comments (0) Facebook Twitter More...

By Sunny Verma

Sunny Verma is the Toronto Public Library's 2014 Entrepreneur in Residence. Sunny, founder and CEO of TutorBright, is an advocate of self-employment, dedicating his time to help individuals realize their dreams through entrepreneurship.

Handshake
Photo credit: EOS 5D Mark II (This file is licensed under the Creative Commons Attribution-Share Alike 2.0 Generic License.)

Choosing the RIGHT Business Mentor 

Many entrepreneurs need advice, especially when starting out.  One of the best ways to get this guidance is through mentorship.  Finding the right mentor, however, can be a bit of challenge, so here are some tips on finding the right mentor for you: 

Who should your mentor be? 

Make sure you choose your mentor wisely.  Their advice can heavily impact your life and business; therefore you have the right to be selective.  The best mentors tend to be those who have “done it before.” They have a wealth of experience and can share insights on their failures. It is best to look for people in your industry and those who have had success with a similar business model.  Also, make sure your mentor shares the same values as you.  Mentors with these characteristics can help fast track your success. 

Where do you find a mentor? 

With a plethora of places to seek advice and an abundance of business leaders who are willing to share, there has never been a more ideal time to be an entrepreneur. LinkedIn is a great way to view profiles of business leaders and connect with them. When you find profiles of potential mentors who meet your criteria, offer to take them out for coffee. 

Another great avenue is networking events.  There tends to be a wide range of people at networking events. Put yourself out there and let people know about you and your business.  At networking events, people are often willing to offer help and meet with you at a later date.

What to ask a mentor? 

Tell potential mentors about your business and that you are looking for guidance. Describe where you are at (i.e. are you just starting out, or are you making millions?) and the roadblocks you see ahead.  Let them know why you have asked them specifically to help. For example, explain that you have done your research on both them and their business, and why you think they can help you.  Be careful to only ask for a short meeting - nothing more than 30 minutes. 

When should you seek a mentor? 

Ask before you need the help. It is always great to have a mentor who you can call with issues and seek advice from. 

Give back!

Once you make it, give your time by mentoring aspiring entrepreneurs. Keep the entrepreneurship ecosystem alive and never forget those who guided you on the road to success.  

Welcome Aspiring Entrepreneurs

November 12, 2014 | Christina | Comments (0) Facebook Twitter More...

By Sunny Verma

Sunny Verma is the Toronto Public Library's 2014 Entrepreneur in Residence.  Sunny, founder and CEO of TutorBright, is an advocate of self-employment, dedicating his time to help individuals realize their dreams through entrepreneurship.

Update:  The deadline for One-on-One consultations was October 31, 2014.  We are no longer accepting applications for this year.


I am absolutely honoured to be this year’s Entrepreneur In Residence (EIR) for
the Toronto Public Libraries!

SVerma-150x185

During my time as the EIR, I’ve had the opportunity to hold three seminars (with one more to come) and will be holding many one–on–one consultations with aspiring entrepreneurs. 

Past seminars have been very well received. The final seminar is on November 28th at 6:30pm at the Toronto Reference Library. 

One-on-one consultations are a chance for you and I to meet personally. These meetings will give me the opportunity to discuss your business and hopefully give you some advice on getting it off the ground.  Please feel free to submit your business even if it’s just an idea.  I am interested in hearing about your entrepreneurial journey regardless of whether you are just thinking of starting or running a large business. 

I would love to tell you a bit more about my entrepreneurial journey and myself. I started a company called TutorBright, which is a 1-to-1, in-home mentorship and tutoring program for students. TutorBright started as an idea and quickly flourished to a company that serves more than 30 cities across Canada and, quite recently, we’ve opened an office in Australia. 

I truly believe entrepreneurship is the best way to make your dream become a reality.  Not only does it give you the opportunity to make the impossible possible, but it also allows you to discover your own potential. I knew that working at a 9-to-5-office job would never fit my personality, and that there was no other option for me but to become an entrepreneur.   

I completely understand the risks of starting a business and leaving a steady paycheck.  But if you are not fully satisfied with your job, isn’t that a bigger risk? By waking up every day to go to a job that you don’t enjoy, you risk having an unfulfilled life.  Let’s do the math:  If you sleep 7 hours a night, and commuting and working takes 10 to 12 hours out of your day, you are dedicating 60-70% of your waking hours to doing something that you don’t love.  To me, that is a bigger risk than ‘taking the plunge’ into entrepreneurship. 

During my time as EIR, I will be writing blogs about my experiences as an entrepreneur. If you have any ideas, thoughts or questions, I would love to hear them. 

Cheers to all the (future) risk-takers and dream-makers!

 

Small Business and Health & Safety Legislation

November 3, 2014 | Christina | Comments (4) Facebook Twitter More...

Health and Safety Signs
Signage Safety Health Warning Sign. Photo credit: Nemo (This file is licensed under the CC0 Public Domain.)

The Occupational Health and Safety Act (OHSA) does not differentiate between small businesses and larger ones. If you are an organization with fewer than 20 employees, whether you have Workplace Safety and Insurance Board (WSIB) coverage or private insurance, the Occupational Health and Safety Act and Regulations apply to you.

Some small business owers incorrectly believe health and safety legislation does not apply to them. For example, owners that opt out of WSIB coverage make an assumption that they can also opt out of the Occupational Health and Safety Act

Other owners may have read in the Act that a workplace with five or fewer regular employees does not need to prepare a written health and safety policy. However, the Public Services Health and Safety Association (PSHSA) states "the Act indicates that if there's a critical injury or fatality, or even a visit from a Ministry of Labour (MOL) inspector, the business owner would still be required to demonstrate and document that people are working safely, and that a disciplinary process is ready to implement."

If you own a small business and are uncertain what you can do, The Public Services Health and Safety Association (PSHSA) website offers advice to Small Business. The website also links to a Small Business Resource Book, to help small businesses understand and satisfy their legislated responsibilities, while creating a safe environment for their employees.

On the PSHSA Small Businesses page, there is a link to Get Help. In addition, the Public Services Health and Safety Association provides links to Training (e.g. web tutorials), Products (e.g. free downloads, resource guides, etc.), Consulting and much more. 

The Ontario Occupational Health and Safety Act is available online at the Ontario government's eLaws page.

For additional information about the Ontario Occupational Health and Safety Act, consult the followng titles at the Toronto Public Library:

                                    Pocket Ontario OH&S Act & regulations  Ontario Occupational Health and Safety Act

Free One-on-One Mentoring Sessions with TPL's Entrepreneur in Residence

October 24, 2014 | Christina | Comments (2) Facebook Twitter More...

Do you need personal advice on starting or running a small business? 

SVerma-150x185
Apply to meet with Sunny Verma, TPL's 2014 Entrepreneur in Residence, for a free one-on-one session regarding your small business plan or idea.

Submit a 2 page outline of your proposed business plan or idea by answering the following questions:

  1. Tell us about your business idea, service or product in 1-2 paragraphs.  Who is your customer?  What need are you fulfilling?

  2. What is your vision and mission and how does this fit into your personal goal?

  3. What experience and knowledge do you have in the area you are interested?

  4. Do you have a plan or strategy?

  5. Please indicate the two areas where you need help the most now:
  • Market research for your idea, service or product
  • Promotion and marketing
  • Social media and online know-how
  • Financial fundamentals
  • Other?

    
     6.  What are the qualities and characteristics of an entrepreneur?

     7.  Please indicate any questions for Sunny Verma not covered in the above.

NOTE:  An application does not guarantee a meeting.  Applicants will be selected based on the strength of their submission and the total number of applicants that can be scheduled.  Applications will not be returned, but will be confidentially deleted if a meeting is not scheduled.

Submission Details

  • Sunny Verma will review your submission and meet with a select number of applicants to review their plans, provide feedback and recommendations, and point out available resources that may be beneficial.  Each meeting is a 30 - 45 minute one-on-one session at no cost.

  • Deadline:  Applications will be accepted until October 31, 2014 at trlbus@torontopubliclibrary.ca

  • Attach your 2 page outline as a PDF file.

  • Complete, save and attach the User Agreement Form available at the Entrepreneur in Residence - One on One Mentoring web page.

  • Meetings are by appointment only and will be arranged by library staff to take place at Toronto Reference Library or North York Central Library.  In the email, include your contact information and preferred meeting location.

Questions?

For further information, contact the Business, Science & Technology Dept. at Toronto Reference Library416-393-7149.

 

Financing your business

October 6, 2014 | Raya | Comments (2) Facebook Twitter More...

Starting or growing a small business takes planning, hard work and money to make it happen. So how much money do you think you will need to start your business? Some typical startup costs involve purchasing office supplies, furniture, equipment and machinery, legal fees, permits and licenses just to mention a few. But a lack of cash doesn't mean you have to give up on your dreams. Each small business is unique and has its own specific finance needs and finding the funds you need isn't as difficult as you might think. According to the Canadian Bankers Association there are various ways to finance your small business:

1. Debt financing is money that you borrow (usually from a bank) to run your business. This is a loan that must be repayed in full, usually in instalments, with interest. The lender will need to assess your business plan, management capabilities and financing in order to determine your company's chances of success. Debt financing can include some of the following: line of credit, credit cards, business term loan and leasing.

2. Equity financing is usually provided by you or people you know. You need to do a good job selling your idea to potential investors especially if you don't have a track record. An investor will make money available for an ownership share in your business and a say in how you run your business. Using your own money has its advantages especially when it comes to making decisions. You won't need to get approval from any of your investors and you get to reap the rewards of your success. Possible sources of equity financing can include: personal savings, loans from friends and relatives, government programs and angel investors.

3. Government programs are another way to get the funding you need to start your business. The Canada Small Business Financing Program (CSBFP) is run in collaboration with financial institutions and was created to increase the amount of money available to small business owners who are just starting a business or for existing small businesses needing money to expand, modernize and improve operations. In the event of default the federal government will reimburse the financial institution 85 percent of the lender's losses. The federal government has several other financing programs that are specific to certain provinces. These programs range from summer/student companies to businesses located in Northern Ontario to programs for people with disabilities. The Ontario government also offers industry-specific incentive programs including credits, business and tax incentives, and has introduced generous venture capital funding for some business activities.

To read more about how to finance your business, you can borrow the following books and ebooks:

Raising Capital Crowdfunding for Beginners  Get Financing Now  The Entrepreneurial Bible to Venture Capital


Kickstarter for Dummies Get Your Business Funded: Creative Methods Starting a Successful Business in Canada Raising Entrepreneurial Capital

Commercial Leases: What You Should Know

October 3, 2014 | Thanusa | Comments (0) Facebook Twitter More...

  Your Name Here

(image courtesy of BostonBill posted on flickr.com on September 23, 2007. This file is licensed under the Creative Commons Attribution-Share Alike 2.0 Generic license)

 

Are you currently a landlord or a business tenant? 

Or are you looking to rent a space for business purposes and would like to know more about the terms and conditions of property rental?

Well, this program is for you!

This specialized workshop presented by Connect Legal covers the following topics:

- things to consider before signing a lease

- negotiating and signing the lease

- assignment and sublet

- lease termination

- landlord's responsibilities

- and what to do when you have a disput with landlord

This FREE program will be held at North York Central Library on Monday, October 20, 2014 at 6:30pm in the Concourse Level. Please register online: http://connectlegal.eventbrite.ca

 

For more information on commercial leases, the following titles may be of interest to you:

  Investing in real estate     The Commercial Lease A Practical Guide     Negotiating Commercial Leases and Renewals     Insurance and Risk Management in Commercial Leasing
       

       




  

 

Current business information for entrepreneurs

September 15, 2014 | Raya | Comments (0) Facebook Twitter More...

Looseleaf3
(photo courtesy of Raya)

If you are thinking about starting your own business or have an existing business and need up-to-date information, North York Central Library and Toronto Reference Library have a series of special publications that are updated throughout the year. They contain primary source materials, information on new trends and recent developments, editorial notes and comments as well as indexes to help you search your topic. The following is a list of publications that may help you in your day-to-day business operations:

 1.   Canadian Employment Safety and Health Guide

Stay up-to-date on all the latest health and safety information, as it happens. This publication includes the background and context that enable you to understand health and safety regulations. Includes employers and workers' duties and responsibilities and covers occupational health topics such as drug testing, fragrances in the workplace, stress management, ergonomics and workplace design.

 2.  Canadian Goods and Services Tax Reporter

The Canadian Goods & Services Tax Reporter keeps you up-to-date with complete coverage of all developments, including full coverage of legislation and proposed legislation, detailed commentary and analysis, and all related government documents. Easy to use topically-based set-up.

 3.   Wrongful Dismissal Practice Manual

A comprehensive  reference source on the law of wrongful dismissal. Coverage includes: The doctrine's scope and the employment relationship, termination of employment, express termination, notice requirements, resignation, what does and does not constitute constructive dismissal, what does and does not constitute  “just cause”, termination agreements and severance packages.

 4.  Canadian Commercial Law Guide

Designed to provide all the information you need, this guide provides in-depth coverage of all federal and provincial law. In additon, it recaps all the most important recent cases and provides monthly updates on key changes in commercial legislation. It also presents a comprehensive overview of Canadian federal and provincial commercial law, including these key areas: sales contracts, personal property security, statutory liens and trusts consumer protection, bankruptcy and competition law.

5.  Ontario Corporations Law Guide

This guide includes a detailed discussion of the Ontario Business Corporations Act, focusing on: incorporation, corporate finance, directors and offices, shareholders, liquidation and dissolution and financial disclosure. The guide also deals with special types of corporations, including extra-provincial corporations, corporations without share capital, insurance corporations, co-operatives and credit unions.

6.  Canadian Business Management Manual

Just about every area that can affect a business is covered in this practical information source. Designed for business managers, Canadian Business Management Manual will be helpful to anyone who is responsible for managing a large or small organization or a particular area of a business. It gives you easy-to-read information on a wide range of business and human resources issues, along with examples, checklists, and procedures.

7.  Business Legal Advisor

A practice-oriented how-to guide to business transactions including planning and preparation of supporting documentation. Features commentary, materials and precedents covering: buying and selling a business, family trust, shareholders, buy-sell agreements, tax implications of a business purchase/sale, incorporation, executive compensation, employment law, reference to pertinent sections of the Income Tax Act and Interpretation Bulletins. It also provides an extensive number of forms.

8.  O’Briens Encyclopedia of Forms

O'Brien's Encyclopedia of Forms is a comprehensive collection of forms and precedents covering a broad range of legal subjects.It provides thousands of documents which can be easily customized to suit your individual needs. Each topical division includes authored commentary.

9. PaySource

This service is the ultimate authoritative source for answers to payroll questions. It includes a handy annual Quick Facts for Payroll Managers desktop reference chart as well as the monthly newletter, PaySource. PaySource covers everything you need to know about payroll, from setting up a payroll system to commentary on key issues to up-to-the-minute changes in payroll laws across Canada.

10. Human Resources Advisor for Ontario Employers

The Human Resources Advisor is written in plain-language that makes it easy to understand how to comply with government standards in your province. This resource helps you effectively deal with virtually any HR and payroll issue. It is written with the law uppermost in mind, and is thoroughly reviewed by lawyers. It is an indispensable guide for employers in Ontario and provides small-to-medium-size businesses with guidance on compliance with payroll and employment law.

Small Business Network: Come Meet the Co-Founders of Menyou!

September 10, 2014 | Thanusa | Comments (0) Facebook Twitter More...

Nothing planned for next week Wednesday? Wednesday Socks(image courtesy of mickeyp2000 posted to Flikr.com on May 15, 2013. This file is licensed under the Creative Commons Attribution-NonCommerical-NoDerives 2.0 Generic)

 

 Want to build your professional network and share your wisdom? Or you just want to sit back and listen to great minds tell their successful story?

North York Central Library's Small Business Network is for you!

 

This month's theme is all about improving customer experience with technology! Who better to share their creative business strategy than young entrepreneurs like Ara Ehamparam and Thaves Ponnamplam, co-founders of Menyou.   

  Ara and Thaves
(Left: Thaves Ponnamplam, Right: Ara Ehamparam)

Menyou is a leading-edge technology solution (featured on CTV and in the Toronto Star) that places an on-demand, interactive ordering experience at your fingertips. These young entrepreneurs will discuss their major influences, key challenges, and the critical events that helped them stay business-driven and positive.

Join us on Wednesday, September 17th at North York Central Library from 6:30pm to 7:30pm in the Teen Zone (Large Study Room) to hear Ara and Thaves share their expertise and network with other inspiring enterpreneurs. Register by calling 416-395-5613. Registration is free.

Don't forget your business cards! Looking forward to meeting you all!

 

"Lets go invent tomorrow instead of worrying about what happened yesterday" -- Steve Jobs

Welcome! We are specialized librarians in our business department and we write about current issues for small business owners and those interested in personal finance matters. For more information and resources see our Small Business & Personal Finance page.

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