Presenting the fifth in our STAR Company “Client Snapshots” series (and the first for 2013!)!

STAR Company client rabble.ca has been providing alternative news – independent of corporate media control - since 2001.  They call it “news for the rest of us” – a collection of voices and stories that you won’t hear in other papers, podcasts and TV shows.  Here’s what Matthew Adams, the Managing Editor at rabble.ca, has to say about the importance of  the work they do….

1.Tell us about rabble…What is it? How did it begin?  How has it changed over time?

rabble.ca sprang to life on April 18, 2011, just before the protests against the Summit of the Americas in Quebec City. rabble was built on the efforts of progressive journalists, writers, artists and activists across the country who wanted to cover “news for the rest of us”.  These days some people would call what we do news for the 99%.

2. Why do you think rabble is important? 

Canada has some of the highest concentration of corporate media control of any democracy in the world.  A healthy democracy requires media that is owned, controlled or heavily influenced by the government or for-profit corporations or interests.  That’s us.  We combine the talents and interests of award winning journalists with community organizers, citizens and other people with important stories to tell to bring news that matters to a wide audience.  Our site, unlike a number of news sites, is 100% free to use to give as much news access as we can to the widest audience we can.

3. What are your greatest joys and greatest challenges in running a constantly changing business like rabble?

We love finding and reporting on important issues and stories that affect communities across Canada (and the world).  Our greatest challenge, like most independent media sites, is one of resources.  Help remedy the situation at www.rabble.ca/support.

4. What have been the most important lessons so far?

We’re over 11 years old – that is a long time in internet years. We are probably still around because we keep looking ahead to how our visitors will want to connect to us in the future.  We were one of the first sites in Canada with podcasts, and one of the few to host to podcast network.  We’re early adapters of new technology – from twitter, to live video, we are always experimenting with new tools that help tell stories. More innovation on the way!

5. What do you wish you had?

One percent of our visitors supporting us with $5/month. That would make us a truly sustainable independent media. Have we mentioned that people can support us really easily at www.rabble.ca/support?

6. How does STAR Company help rabble?

We have people all over the country working for rabble but our financial home is Toronto.  STAR Company gets our books in order, literally takes our money to the bank, makes sure that important items don’t get missed, and keeps our lights on so we can worry about covering the news.  Thanks STAR Company!

7. Any advice for independent voices in Canada’s new media?

Let’s work together!  Email us!  publisher@rabble.ca

On Dec. 20th, our friends from FreshBooks paid a surprise visit at our beloved STAR Company office to serenade us with some Christmas carols! 

The FreshBooks Crew with STAR Company staff members Judy Marcelline and Shirley Marquez.

Not only are they the # 1 cloud accounting specialists for small business owners, but they sound amazing too! Hear them in action!

And if we haven’t already said so, we love working with FreshBooks! They’re awesome at what they do, and they can sing!

Just like our clients, we enjoy working with Business Savvy and Creative/Artistic people. Looking for a Bookkeeper? Look no more. STAR Company CEO Sarah Hopen and Bookkeeper/Administrator Judy Marcelline are Certified FreshBooks Beancounters.

Check us out at : http://www.freshbooks.com/accountants/accountant-map.php#dialog3

STAR Company sends their best wishes of a healthy, happy and peaceful New Year to you all!

To a new year of joy, love and success —

Sara Fillmore of Planet Kid

Presenting the fourth in our STAR Company “Client Snapshots” series, Shirley Marquez sits down for a virtual chat with STAR Company client Sara Fillmore of Planet Kid to find out more about the lessons Sara has learned during her career as a creative entrepreneur. 

Tell us about Planet Kid –  who are you, what do you do, where are you, and what makes you awesome!

We are (in our humble opinion!) the best gift shop for kids and babies! The entire collection is lovingly curated to provide our clients with unique, locally and ethically produced clothing, toys and gear for kids of all ages. We are located in the beautiful Roncesvalles neighbourhood – a great place to live and a great place to shop! Our devoted clients, the kids and babies in their lives and our neighbourhood make us awesome!

What sparked your interest and passion into doing what you do now? How did you begin your journey?

My journey to Planet Kid began with a passion for knitting and the birth of my dear son. I created a small clothing company called Hankware that partnered with a friend (Baby Ben) and opened Planet Kid on Queen St. West in March of 2006. In May of 2008 I officially shut down Hankware and moved the store to 87 Roncesvalles and began the focus of expanding our collection to include more gifts, shoes, boots, toys, books and gear.

Could you tell us about some challenges you had at the beginning of your career? How did you overcome these challenges?

The challenges continue but that’s a good part of the fun too! The biggest initial challenge for me was figuring out how to balance my own work with the work of other designers and artists. It soon became apparent though that my little clothing line was not going to grow if I was concentrating on running the store. I looked very closely at what I was good at and it became apparent that my strengths were in the collecting of the products, of seeing things and how they could work for the store and discovering/nurturing small businesses and allowing them to incubate their ideas at the store.

Planet Kid at Roncesvalles

What/why do you think your customers like about Planet Kid?

The question would be what DON’T they like! hahaha. Our clients keep coming back for two reasons. The first would be that we are all about customer service – we consider ourselves experts in the products we carry and experts in gift giving! We can help find the best, most unique gift for every kid on their list! And the second reason would be those products! Unique, unusual, practical, always ethically made and chosen with love!

Growing up, who inspired you to follow your dreams of running your own creative business? Who prompted you to be who you are today?

My parents for sure. And a woman whom I miss terribly, Ryva Novick. She was the mom of my best friend and also one of the founders of the Children’s Storefront. She let me open my first restaurant (The Kid’s Cafe at the Storefront) and was an extraordinary artist!

How does STAR Company help with your life/work?

Oh my gosh! STAR Company arrived in my orbit just in time! They created systems for me to get the paperwork under control. Their bookkeeping services allow me to work on understanding the processes without having to do all the data entry! Bless them all!!

Looking back at what you have accomplished, what would you do differently with your business and why?

I would have started with a very concrete business plan because though one should always update and change their plan to accommodate the changes in the business, without one at all I had no course for a couple of years and I feel I could have built faster.

What are your greatest joys in running your creative business?

I find joy in everything I do at Planet Kid! The greatest joy is in watching people walk out the door with a gorgeous gift under their arm, a smile on their face and the knowledge that they’ll be giving something to be treasured forever!

Where would you like to see Planet Kid take off in ten years?

In ten years time there should be Planet Kid stores in lovely neighbourhoods across the country! Spreading love and the Planet Kid culture.

If the whole world were listening, what would you say?

I would sing
You are my sunshine, my only sunshine
you make me happy when skies are grey
you’ll never know dear, how much I love you
please don’t take my sunshine away.

Shirley Marquez, STAR Company Bookkeeping Assistant and singer/actor, provides insight in her ongoing series on pursuing a creative career.

Ahhh, the “f” word …. Failure. It’s a delicate subject. Nobody wants to talk about it, nobody wants to admit that it happens. And yet if you are going into business, more importantly in the creative business, failure is a possibility. Why else would parents and teachers discourage their children from one day opening up their own businesses (or God forbid, pursue a career in the performing arts!). I once read somewhere that 50 percent of businesses fail in the first year and 95 percent fail within five years. “Who wants that when you can just work in a bank or a hospital and be employed with benefits?” as my family would say.

We all know why we don’t feel good about failure. Fear. Embarrassment. Self-Doubt. … The list is endless. So here’s an idea – Why don’t we start looking at failure as a good thing? Look at it as an asset, instead of a liability. I bet all the billionaires in the world didn’t succeed the first few times they tried – they simply learned from it and accepted that failing was part of their journey …

… So how exactly can failure be considered an asset and not a liability?

First, with failure comes growth. Maybe you opened a store two years ago that closed in six months because you didn’t do enough research on the location. Now you know. Only with defeats, mistakes, and so-called failures do we only really develop knowledge and sharpened skills. We learn by trial and error. Of course, t is always easy to just give in to negative thinking. “But I saved all that money to get it started, I did this, I did that, I wasted my time and energy for what?” Well, one thing’s right – you are wasting energy by complaining instead of planning your next steps. There is no magic solution for everything – we will make mistakes. If there was a magic solution, the world will be a perfect place. So accept failure, learn from it and move on. No one succeeds by taking it easy, we succeed by taking risks.

Next, failing is not the end of the world. It may, believe it or not, be a window for another opportunity.  For example, when I was 19 I moved to Toronto to study Theatre at York University. Like any 19-year-old, I thought I had it all figured out– I was going to graduate in four years, get my theatre degree, and be on my way to becoming a theatre artist. Alas, it did not happen – I didn’t get in when I auditioned for 2^nd year Acting! I was incredibly disappointed! My plan fell through! …  Luckily, I auditioned to other schools as a back-up. Two months later, I received an acceptance letter from the National Theatre School of Canada. My plan changed, and I moved to Montreal. The lesson? Embrace failure as a part of life – you can’t avoid it. And when you do, you just might find something better.

Last but not least, I would like to quote JK Rowling in her 2008 Harvard commencement speech: “It is impossible to live without failing at something, unless you live so cautiously, that you might as well not have lived at all. In which case, you fail by default.” I love this quote because this addresses the # 1 reason so many of us avoid failure: Fear. The lingering worry of, “But what if I fail?” … Well, two things can happen from experiencing failure: 1. You now have more insight of how to do things differently next time, or 2. You saw another window of opportunity to spend your talents on instead. It’s a win-win situation if you really think about it.  Nobody lies in their deathbed thinking, “Thank God I never tried being a comedian!” Dying patients, at the end of their lives, recall their regrets. Not their failures.  “I wish I had courage to  ___________.”

So if you are still worried of failing instead of taking the plunge and just going for it, I strongly encourage everyone to watch The Failure Club. It’s a webisode created by Morgan Spurlock about seven real-life Manhattanites pursuing their dreams despite significant obstacles. It’s remarkable to watch everyday people do everything in their power to pursue their dreams despite the huge possibility of failure. Trust me – these are the types of people who will not have regrets in their deathbeds.

Failure Club :  http://failureclub.org                                                                                                                                                                                                                                                                                                                                                                                                                             Why Small Businesses Fail : http://www.businessknowhow.com/startup/business-failure.htm

JK Rowling Speaks at Harvard Commencemen : http://vimeo.com/1711302

One of the things we here most often from new clients is “I have a basic idea of what’s going on with our finances, but I don’t feel like I really understand what is happening.”

At STAR Company, we have observed that business owners usually have an incredibly precise idea of how much they are selling, and managers of not-for-profit’s and charitable organizations know exactly how much money they are getting in grants and donation.

After that things get a little murky.

But to get a full-colour, panascopic vision the health of your organization, you need to be able to assess three basic qualities of your finances.

1. MOVEMENT

1.  While it’s important to know how much money your business or organization is bringing in that determines the success of the enterprise, it’s also important to know how much is going out and how those two things relate.  If you own a business, which products and services are you selling the most of?  And how much money goes out of the organization to sell all of those things or services?  If you are NFP or charitable organization, how much does it truly cost you to complete your programming?  And of course the question at the end of the day – what does the bottom line look like?  Are you making a profit, breaking even, or running a deficit?

2. TIMING

After you have a clear picture of where the money is moving, it’s important to understand the time frame of that movement.  Some leaders look at their bank account and falsely use the balance to determine whether the business is succeeding or failing.   But your bank balance is often a reflection of the speed at which money is flowing in or out.  It is important to understand this not only to understand the profitability of the enterprise, but to plan expenditure for the year.  If you know you will need to spend several thousand dollars at the end of the year to purchase supplies or inventory, or to pay HST, then better to put aside the money at the beginning of the year than to scramble later to find the funds.  Not only does this decrease your stress but it makes you a more attractive business for investors and partners.

3. HEALTH

In addition to understanding how the money is flowing in and out, you want to understand the health of the organization itself, particularly if you have inherited an organization through purchase or leadership change.  Understand all of the organization’s liabilities and assets.  Look at your balance sheet closely and be able to explain every single item.  Be fearless and ask questions of your bookkeeper and accountant.

And of course, the most important point is not just to understand these points in principle, but to discover them in practice.   For many people, financial review is much like flossing your teeth.  You don’t do it because you love to do it – you do it because it’s a path to a healthy, enjoyable, pain-free life.   So it is with finances.  Regular review of your financial information will help you create the business or organization that you are aiming for.

Aim for regularity – at least once a week.  But if you skip a session, or you are unclear on some of the information – don’t despair!  Don’t give up on the whole process!  Try again, ask questions, get help and start over.

STAR Company Bookkeeper Judy Marcelline spreads the word about Freshbooks; a bookkeeping tool that makes life a whole lot easier for creative entrepreneurs and artists.

photo courtesy of: fortheloveofbookshops.wordpress.com

Customer service, customer service, customer service….yes, that’s right, customer service.  A rarity in today’s world of voicemail, email, facebook, text and twitter.

Imagine this… you  pick up the phone, dial a number and a real live human says:  ’Hello, Freshbooks’ !  If you have a question, they go out of their way to answer it.   Then and there.  On the spot.  I know, crazy isn’t it?!  Freshbooks‘  outstanding approach to customer service is  one of  many fantastic services offered by this people-friendly company.

What is Freshbooks, you ask?

Their tagline is ‘painless billing’ and that really sums it up.  They provide individuals, sole proprietors and small businesses the simplicity of:

photo courtesy of: shoeboxed.com

- creating invoices

- tracking expenses and  income billed and paid

- time tracking per client or project

- billing for projects

- creating reports that provide a clear picture of your finances

- And, with your own personal URL, Freshbook developers have created a page that is easy to use and follow

What about good ol’ Excel, you say?  I have nothing against Excel, it’s a stellar piece of software that’s invaluable to numerous businesses.  But for many creative small business owners and entrepreneurs, the built-in formulas and tracking tools within  Freshbooks save considerable time, (and you know what they say about ‘time is money’) and lots of mental gymnastics.

photo courtesy of: science.howstuffworks.com

There are now many cloud-based bookkeeping apps and software, (we know, we’ve tried lots of them), all offering ease, accessiblity and affordability, but Freshbooks stands out among the crowd.   With their daily blogs, client portraits and fabulous customer service, they have developed relationships with their clients and thereby created a community of satisfied customers .

As a STAR Company bookkeeper and an official Freshbooks ‘Beancounter’,  I feel good about spreading the word of Freshbooks.

Did I mention they offer great customer service?

Feel free to get in touch with us to learn more about STAR Company and Freshbooks at info@starcompany.ca.

 Shirley Marquez, STAR Company Bookkeeping Assitant and singer/actor offers three useful strategies to help you make a living from your art…see her tips below. 

Shirley and the STAR Company team will be at the Toronto Fringe Festival Tent Talk “Business of Being an Artist” evening, one of the ways that STAR Company is supporting the Toronto Fringe as a Community Partner.  So if you are an artist with a headful of questions about making a living from your art, then come by.  We’d love to meet you and answer your questions.

“The Business of Being an Artist”

Saturday July 7, 6-9pm

outdoors at The Fringe Club at Bloor and Bathurst.

One of the most commonly asked questions by artists and creatives alike is…

“How do I turn my creativity into a career?” Having been a performer in my twenties, I realized there was a lack of proper “business training classes” in theatre schools. Quite interesting, since as a creative artist you are self-employed. Yet there no core classes specifically addressing the step-by- step process of self-promotion – how do you produce, where do you get the money to produce a show – Just how do you start? How do you keep afloat?

There are many ways to go about this issue, but here are some basic beginner steps to take note of:

1. Have a Business Plan:

Yes artists – have a business plan. As creative people our first main focus naturally falls on the artistic side of things (deciding which plays to do, how many shows to do in a season, which directors to consider, etc.). While those are very important (of course!), realize that you need to have a business plan to bring it into fruition. Start with your wish list – where would you like to be in one year? How much money do you think you’ll need to accomplish that goal? Where do you think you can get help? What resources do you have, and how can you expand them?

 2. Create a List of Actions.

One of my instructors at NYU, James McGarry who taught a course called Financial Management for the Arts, said that starting a career in the arts is like planning a vacation. You plan in advance (at least a year in advance, not two months before you wish to open your show!) Assign specific dates to achieve a certain goal and make each step goal-oriented. Simply writing down “look for a venue” is not definitive enough. Something like, “1. Narrow down venue choices by July 15th, 2. Select a venue by July 30th, 3. Deliver venue deposit by August 5th “ initiates and demands action and planning, rather than simply stating what you wish to happen next.

3. Think Long –Term.

In the book “Yours for the Asking” by Reynold Levy (President, Lincoln Center for the Performing Arts), one of the lessons that struck me the most is the idea of planning for long-term survival. How many times have we focused on how to have a successful first show with no plans on how to continue this success into the following year, the next five years, ten years, etc? Remember the old saying back in elementary school? Getting an A is easy, keeping an A is hard. If your goal is make your passion a career, you need a business plan and a list of actions that does not end after your show wraps up.

Some Helpful Links (grants)

Theatre Ontario – Professional Theatre Training Program Grants are given to professionals who wish to gain professional development within their own discipline or a “change of direction” within their careers (examples: an actor wants to become a publicist; a stage manager wants to become a producer; a technician wants to become a designer.)

Ontario Arts Council –  OAC offers grants to individual artists (Project Grants) and arts organizations (Operating Grants).  

Toronto Arts Council – TAC provides grants to outstanding artists and arts organizations that contribute to the cultural life of the City of Toronto.

Canada Arts Council – Provides funding to individual professional artists and arts organizations.

Metcalfe Foundation – Provides grants to registered charitable organizations in three areas: Community, Environment, and Performing Arts.

Recommended Readings

Management for the Arts Byrnes, William J. Focal Press; 4 edition. 2008.

Yours for the Asking: an Indispensable Guide to Fundraising and Management  Levy, Reynold, John Wiley & Sons, 2008.

Winning Grants Step by Step Mim Carlson, 2nd. Edition, Alliance for Non-Profit Management, John Wiley/Jossey-Bass, 2002

One thing is for certain, all entrepreneurs and self-employed creatives face the same challenge:  how to be creative and keep your business wits about you.

What’s your style?

photo courtesy of Bergen Health & Life

Are you…

Well-done  – you’ve got the financial know-how, but you don’t have the time?

Medium - you know your finances are important, you just need some guidance?

Rare - you haven’t had the a-ha moment, yet…the one that makes you understand that the creative side and the money side are equally important, if you want to succeed in your creative business.

1. Well-done

Many of our clients are very proficient at managing their finances.  Are they able to do their own bookkeeping?  Of course.  Do they have the time?  No.  They have a comprehensive understanding of double entry bookkeeping, know how to use their software and  how to analyze a set of financial statements.  They are incredibly busy building capacity, following sales leads, etc.  All the while thinking, “I can manage my own books, I don’t need to pay someone”’  This is when books fall months, or years, behind and suddenly, the very capable business owner no longer has the financial information they need to make solid decision about their business.

STAR Company Tip:  Acknowledge your skills, identify when your time is better spent elsewhere, and then quickly bring in skilled help to maintain your books before they fall behind.

2.   Medium

We often meet with people who understand the importance of bookkeeping, really want to keep things on track, but are lacking the understanding of how to manage financial information.  How do I use this software?  What is a revenue stream? How do I integrate my online sales with my accounting program?  Is it important to pay sales tax quarterly?  Unfortunately, the intention and desire to track their finances leads people to keep forging ahead, even when they don’t quite understand.  The result?  Bad bookkeeping, incomplete information and lots of wasted time…and money.

STAR Company Tip:  Get help!  Have an experienced bookkeeper set  up your process right…from the beginning.  If you want to maintain your books ongoing, then get the training but have someone “check your work” periodically to make sure you are on track.  Things done right the first time save an enormous amount of time and money in the long run.

3.    Rare

Sometimes when we are talking with business owners, we hear them utter phrases like:

“Money just isn’t important to the kind of work I’m doing”

“I’ve never been into money”

“I just don’t have time for all the fussy work”

“I’m more interested in helping people than focussing on money”

These kinds of attitudes require what a colleague calls, “an intervention”.  These entrepreneurs are lacking important information about the role of money in their business  – and someone needs to let them know!  Very few of us start creative ventures or social enterprise because of the money.  We are passionate about what we do.  But just as you would never start out on a big journey without checking your gas tank, so you should never undertake an enterprise without knowing what it is going to take in terms of money, time, and commitment.  It is an almost complete guarantee that you will run into serious trouble, if you don’t take your finances into account.

 STAR Company Tip:  Sit down and make a budget, all while keeping the focus of your work in mind.  What do you want to do and what resources do you need to manifest your vision?  And make sure you have someone with financial experience look at the information with you.  Friends don’t let friends plan alone!

The key in all these scenarios is to know yourself!

Know your financial style and figure out what kind of support you need.

Get the right kind of help so that you can continue to do the work you love to do.

Contact us at info@starcompany.ca and we’ll help you determine your style, and best practices for your creative and business success!