I Can Help You?

Scott on Canada AM

  • Awarded as a MoneySense Approved Financial Advisor

  • Awarded as one of the Top 50 Wealth Professionals In Canada

From the Desk of: Scott E. Plskett, CFP®

Caledon, Ontario

April 30, 2025

 

Hi Friend,

As you can see, a lot of practical wisdom and technical knowhow has gone into the content contained in these videos. Unfortunately for me, it was my mistakes and my frustrations with my own business affairs that allowed me to perfect the proven financial planning process I work with all of my business owner clients through.

My frustration is your gain.

So why did I put together these free videos and eBook to reveal this information that is so critical to a business owner’s overall financial freedom? Actually, there are two reasons:

  • 1

    I have something very important to tell you and I needed some way to make sure I could catch your attention.

  • 2

    And second, since what I am writing you about requires a solid professional relationship and you have never met me before, I thought that revealing information usually reserved for my clients eyes was a great first step.

Will you do me a favour, and answer a short question?:

DO YOU KNOW THE SIMPLE, JEALOUSLY GUARDED SECRET THAT EVERY BUSINESS MUST USE TO WIN IN THESE TIMES?

If you don't know it, then read on!

No one has to tell you that the landscape business owners are now working in has changed. Our new Liberal government has put small businesses in their cross hairs.

Maybe you have felt the irritation of knowing you are good at what you do, but fail to see all the rewards for all your talent and struggles due to external hurdles.

You always thought that being good was the answer.

Sorry.

Maybe in the old days. Now a days:

BEING GOOD ISN'T GOOD ENOUGH!

There are a lot of gremlins fighting you.

The government. The low interest rate environment. The crazy currency swings. The Canada Revenue Agency. Your competition. The bank. Your employees. The stock market. The insurance company.

Everyone.

Really, tell me the truth. Can you ever remember a time when it was so damn hard to make an honest buck?

You had the guts, the grit, the intelligence and the drive to start your own business.

However, in this screwed up economy, these powerful traits are not enough. As a matter of fact, they may never be enough again!

Yes, there has been a deep, fundamental change in the way people think about their money. Both individuals and businesses. Yes, they are so frightened of making wrong decisions, that they:

DON'T MAKE ANY DECISIONS AT ALL!

And this lack of action is causing you, and most entrepreneurs, some big problems like:

  • Lousy cash flow. Are your customers paying you like turtles crawling through mud? If they are, it's because their customers are paying them like dripping molasses!
  • Poor response to advertising, or salespeople. Your prospective customers don't seem to act like they're very interested. Maybe they are, but don't want to make any commitments. Can you blame them?
  • "Wonderful" relations with your bank. Isn't it amazing that they are so helpful when times are tough? (i.e. Helping you to the door as they escort you out!)
  • Tension and stress becoming a fact of daily life.

You get the idea. The joy and excitement that came from the first time you even dared dream of owning a business are drifting into other emotions.

Emotions that are much less pleasant.

Oh yeah, don't forget our friends over at the CRA.

Does this scene sound familiar?:


As Bill was going to the meeting, he had a lot on his mind.

He wasn't quite sure why, but he had a bad feeling. It must have been the way the accountant sounded on the phone when he asked Bill to come over to meet with him and their lawyer. As if he needed any more bad news.

The last year and a half had been full of nothing but bad news. The crappy economy led to a slow, slow sales picture. Long time, excellent pay accounts, are lucky to be paying in 60-90 days. (If they are even in business!) Next, the bank refused to approve the new loan for the warehouse, and then...

Bill's partner of eleven years, Jerry, passed away. Such a young man, and such a good friend.

Gone. At first, the disabling illness seemed in check, but after several months, it took its deadly toll.

After Jerry's death, he had to run the whole ship, in the choppiest waters in memory.

As prepared as he was for Jerry's untimely demise, the meeting at the accountants left him in even more shock.

"How in the hell could all this have happened?!" Bill yelled at the new accountant. He had hired a new one to replace their old one, when the old one said that the death matters should be handled by someone else. That he was too busy to do the work.

Here is a summary of what Bill learned at this meeting:

  • The way their partnership agreement was written caused major league corporate taxes to be due, from a thing called the Alternative Minimum Tax. ("What the hell is that? I've never even heard of it," Bill demanded.)
  • The original corporate structure was set up incorrectly, and was now going to cost mega-thousands in taxes to fix.
  • The retirement plan was under audit by the CRA, and it seems that the documentation had not been updated properly to reflect the last several years of law changes. This was very serious, as there is a possibility of losing deductions, causing the nauseating penalties, taxes, etc...
  • In order to make it through some of the leaner times, they had to dip in to their retirement plans and didn't realize that doing so caused more tax problems, that are now catching up to them.

And so on.

The meeting lasted for over two of the worst hours in Bill's life. Bill had to go home, have a stiff drink, and figure out what he was going to do.

Unfortunately, the choices were no longer going to be his.


What happened in this story happens to businesses every day. It happened before we entered this critical economic environment, and it happens even more now.

(By the way, I don't think this 'economic slowdown' is really a pure financial issue. I think it is a complete collapse of confidence, and a deep seated change in how people think and feel that may be with us for a long, long time. But I digress.)

Anyway, what led up to Bill's company's disaster is just like a plane crash.

As any pilot will tell you, there is never one cause for a plane crash.

It is almost always the result of a series of unrelated events, which taken by themselves would not be very serious; but when combined as a negative force, can bring a plane down with ease.

And for a great majority of businesses, the sequence of events consists of:

  • 1

    Working with "ill advised" advisors who are out of their league in many complicated business situations. And these days, any business situation is complicated!

  • 2

    Buying financial products (e.g. retirement plans, insurance, etc...) from salespeople who seem nice and friendly, but have either no clue, or no interest, in how to stay on top of all the necessary issues. Many times, the salespeople's biased advice worked well for the salesperson, but not for the business owner.

  • 3

    Making financial decisions one at a time. Buying products and services apart from each other, or, in other words, the left hand has no idea what the right hand is doing!

  • 4

    Paying so much attention to the actual business, that little if any time was spent on these "grounds keeping" details. The day to day growth and survival of the business always seems to come first, (as it should), with no energy left for all this stuff.

So, when all these unrelated forces combine, all your sweat and hard work can go right down the old tube, without anything that can be done to save it.

Does this sound familiar?

Anyway, there is a solution to all this that is one of the best kept secrets around. It is an answer that is really quite simple, yet when done right, is very sophisticated at the same time.

What is this "magic pill" that so many business owners lack?

What they are missing is one ingredient. They never attained: THE RIGHT KNOWLEDGE.

THE INFORMATION THAT WILL COMBINE WITH THEIR NATURAL ABILITIES AND CREATE THE SUCCESS THAT CANNOT EVER BE TAKEN AWAY!

What does this knowledge consist of? What are the components?

I'll tell you.

It is:

PLANNING, PLANNING, AND MORE PLANNING! PLANNING MAY BE THE GREATEST SECRET OF ALL!!!

It really can be!

Another way to say this is that by working with the right advisors, and coordinating all your "grounds keeping" issues, you will have the ability to spend your time in the most productive ways possible:

  • Like, buying your merchandise at the best prices, training your staff for maximum efficiency, work with the salespeople for improved marketing and revenue, collect money from your slow pay accounts, and so on.

Aren't these things what you should really be doing with your time? Well, I've got to tell you, planning is the key.

Think about this:

Most of you do not plan for your business, the way you even plan a vacation or a trip to visit your mom.

Those activities are planned and coordinated very carefully. When you will leave. What you will do before you go. What you will bring with. How you will get to the airport. What you will do with your bags. Which seats to take. What time you arrive. Renting a car. Etc...

DO YOU TAKE THE TIME TO PLAN FOR YOUR OWN FINANCIAL FUTURE IN SUCH LAVISH DETAIL??

I think you probably do not. Be realistic with yourself.

Yet, this planning makes the difference between arriving at your destination, happy and excited, or having no clue where you are, or even where you want to be!

In my opinion, the single biggest reason for being frustrated in the running of a business, is not having a plan of action for:

  • 1

    Tax Reduction Strategies

  • 2

    Cash flow

  • 3

    Business Continuation In Event Of Death, Disability, Separation, Etc...

  • 4

    Retirement Plans

  • 5

    Company Benefits

  • 6

    Compensation (How Much, And In What Way You Take Money Out!)

  • 7

    Coordinate Your Business Finances With Your Personal Finances, So That Everything You Decide Is "In Tune", And Moving In The Same Direction!

All these areas must be planned out in advance.

I know. It makes you sick.

Why should all this stuff get in the way of the creative and fun parts of the business?

Why can't it be easier to run a business without all this annoying material to get in the way?

Why?

Because a business must have these other aspects coordinated to keep the fun parts alive and well!

If you are trying to reach your goals, you have to either plan for success, or have someone help you do it.

You have to:

  • 1

    ESTABLISH A TAX PLAN THAT WILL MAXIMIZE THE AMOUNT OF MONEY YOU TAKE OUT OF THE BUSINESS, BOTH NOW AND FOR YOUR FUTURE!

    Think about this.
    If you have a 10% profit margin, and you save $10,000 in taxes, that is the same as:
    MAKING AN EXTRA $100,000 OF SALES! FOR FREE!
    ($100,000 of sales at a 10% margin would put $10,000 in your pocket. Saving $10,000 of taxes also puts $10,000 in your pocket!)
    Make sense?

  • 2

    DEVELOP A PLAN TO HANDLE ALL THE AREAS OF YOUR BUSINESS WE MENTIONED A COUPLE OF MINUTES AGO, THAT CAN BE MEASURED AND ADJUSTED, IF NECESSARY.

    Set up ways to reach whatever goals you have set out for yourself.

A plan.

No, not the favourite method of decision making of most Canadians.

Which, as you know is, PUTTING OUT WHICHEVER FIRE IS THE HOTTEST!

This method of running things is really no good.

It's obvious, when you think about it.

Yet, how do you stop running around trying to put out the fires, when you have so much to do?

Where do you get the time?

Well, there are really only two answers.

One is to try to invent more hours in the day.

The other is to have a business planning specialist help you.

"But, wait!" You are thinking.

This specialist is going to cost money!

"Money I don't have right now," you suppose.

Not so.

There is only one way a financial advisor, accountant, or whatever can work that makes any sense.

THEY HAVE TO SAVE AND/OR MAKE YOU MORE MONEY THAN THEY COST!

If they don't, then why bother? Right?

Well, that is the only way our firm operates.

First we:

  • 1

    Have a no obligation, free consultation to determine what your business is all about.
    An interview, not a sales pitch.
    We discuss your issues and concerns... your objectives. To understand what you have to deal with. We will learn how you feel about your financial planning and why you are like you are.
    Then we can tell you what you can accomplish, and how much money will end up back in your pocket! (I swear we will NEVER, EVER TRY TO SELL ANYTHING, OR EVEN BRING UP ANY PRODUCTS AT THIS INITIAL INTERVIEW!)

  • 2

    You think about it and decide if this planning makes sense for you.

If you do, then we proceed.

The first step is to gather data and prepare a plan. And, after it is finished, we review it, and work on completing the necessary steps.

Working for you, to get everything done right.

With outside professionals, your family, third party vendors, etc...

Whatever it takes.

If after the first meeting you decide that this planning isn't for you, or that you are uncomfortable with us, or whatever, then you go on, we leave, and that's that.

What could be simpler?

And, there is something very important you will gain from doing planning.

You will have CONTROL!

Control of how you arrange your money, to keep the tax man's greedy little hands out of your pocket. Control of your finances. control of your life!!!

There is another form of control that planning brings. Being able to rekindle the passion you had for your business may rekindle the love and joy you get from your family.

Let's face it. When you are not enjoying your business, it affects not only you. It affects your family. If you come home burdened with your stress from work, it is difficult for your loved ones not to become involved. It's very likely you will bring home some of your aggravation. Once you feel in control again, watch how your home life changes in many positive ways!

I've seen it dozens of times! It never fails that control will bring peace of mind.

And isn't that what our lives are all about?

You have to understand that most financial firms have a basic agenda when it comes to helping their clients.

Whatever is the easiest path to follow.

They do not have the interest in getting too involved with planning for the client.

Why, you may ask?

Because they are trying to run as many transactions through as possible.

Volume over planning.

I don't believe this approach makes any sense.

Well, at least not for you. The salesperson, maybe - but certainly not you!

And whose business are we talking about anyway?

So where do we go from here?

How about taking a few minutes to plan for yourself?

If any of this interests you, please do me a favour and book a free, no-obligation online information session with me while this is fresh on your mind, and you are excited about finally getting your business affairs where you want them to be!

As I said, there will be absolutely no pressure during this free information session.

No pressure, no sales, no hassles!

I promise.

And no, it will not be a disguised sales presentation. Or a "pitch". Or anything, except a brief (half hour or so) time to review what is going on in your financial life that concerns you.

And that's it.

You see, we know a critical fact:

  • In today's skeptical and fearful society, any attempt to pressure someone, or sell things before the time is right, will assure the prospect will run for the hills!

Believe me, I could not be working with so many business owners if I was doing anything to make them uncomfortable! They would not put up with it for a second!

I can't think of a better way to work.

Can you?

So why don't you think this over for a couple of days, and see if this makes sense for to you?

If you have any major skepticism left, or maybe have a question or two, feel free to give me a call. You will find that when we talk, there will be zero push or pressure.

If you are really not interested or ready, that's great.

If you want to talk, that's OK too.

You have to understand that I love getting new clients, and as a matter of fact, I am hired by several people each month, as their financial consultant.

But, because I have a steady volume, I never accept clients that aren't really excited and interested in rebuilding their future.

Life is too short to "fight" people who don't really want to PLAN FOR THE FUTURE.

When you think about it, is your business any different?

You too, love new customers, but certainly would not want one who is unhappy to be working with you. We've all been around too long to deal with that!

So, I'm done for now.

I look forward to talking to you soon, and seeing where we go from here!

Take care.

Best,

Scott Plaskett, CFP®

P.S. Ending The Frustration Of Paying Too Much In Taxes, And All The Other Things That Bug You About Your Business, Feels Real Good! Find Out How Careful Planning Can Help You Solve Your Frustrations, And Put Money Back In Your Pocket Where It Belongs!

Scott on BNN

Scott on Global News