The Most Profitable Business in Canada and More Cash Cows

A hand placing the final wooden block on a stack with letters spelling "INVEST" and upward-trending red arrows painted on the side, symbolizing the growth and success of strategic investments — The Most Profitable Business in Canada

Exploring the most profitable business in Canada can be an insightful journey for entrepreneurs and investors aiming to capitalise on lucrative opportunities. IBISWorld has highlighted the sectors leading the way in profitability, offering a clear roadmap for those looking to dive into a rewarding venture. The Landscape of Profit in Canadian Business The most profitable … Read more

How To Edit Your Google Business Profile

Image depicting various businesses with text about how to edit your Google Business profile

Ensuring that your business information is accurate and up-to-date on Google is crucial. Your Google Business Profile is often the first point of contact potential customers have with your business, making it an essential tool for your online presence. So, in this post, we’ll show you how to edit your Google Business Profile (formerly Google … Read more

Navigating Sunk Costs And Overcoming the Sunk Cost Fallacy

Money and houses balanced on what seems like a wooden scale - sunk costs

Sunk costs represent investments irretrievably spent and unrecoverable. These investments can be financial, time-based, or emotional. In contrast, other types of costs can be modified or avoided based on future actions. For example, variable costs fluctuate with the level of production or output, while opportunity costs indicate the potential benefits sacrificed when selecting one option over another. … Read more

What is Opportunity Cost? How to Use It, Formula and Calculation

A man looking at multiple doors - a reference to opportunity cost.

Opportunity cost is an essential economic concept representing the potential benefits or value forgone when choosing one alternative over another. It is the cost of the next best alternative that people give up to pursue a specific action or decision. Why Is Opportunity Cost Important Opportunity cost is crucial in decision-making because it helps individuals … Read more