Intro – Sean Skehen

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  • #1989
    Sean Skehen
    Participant

    Hey everybody!
    I ‘retired’ from the CAF in late 2014, after 13 years. Served initially with the 2nd Regiment Royal Canadian Horse Artillery. Transferred to the Navy and shared my time between the Canadian Forces Naval Engineering School and sailing onboard Her Majesties Canadian Ship Athabaskan. It was a great (but short) career. I learned alot and got to see some interesting places.
    After years of wanting to start a business I finally took the chance. I did a soft start in 2015, while attending school and am now a full time entrepreneur.
    I hope to learn all the necessities of managing employees from this program, more specifically, the payroll side of things. I recently completed a business plan (a requirement for funding) and will use this opportunity to fine tune it.
    So much of what the CAF teaches you translates into business, especially that no good plan is ever wrote in stone. More like jelly. The schedule onboard HMCS Athabaskan was called the ‘flex’! If the pandemic taught us anything, business’ need to be flexible and able to pivot on a moments notice in order to survive.
    I would also like to learn strategies to transition from working for the company, to working on the company. I would like my business to be self reliant and not dependent on me being there. The goal is to be able to sit in an office and work on growing the business, while employees maintain it.

    #1994
    Erin Melnychuk
    Moderator

    Hello Sean,

    What is the business you’re operating?

    I love your reflections about the need for entrepreneurs to be nimble and adaptable. This is a critical mindset for entrepreneurs and a major contributing factor to business failure. Entrepreneurs often get fixated on the way they want the business to look like, and forget, that if it isn’t what the market needs or is asking for, there isn’t a viable business model in place. Entrepreneurs need to learn to read the environment and pivot accordingly. The ones who survived the pandemic were able to be innovative like this.

    A lot of your questions are much more operational than we’ll be covering in the program content. However, they are perfect questions to bring in to coaching conversations, so please take us up on the offer for 1:1 coaching.

    What I think you’ll appreciate in this program is learning how to use a business model canvas as a quick way to map out where your business is currently at, and where you’re trying to get to.

    Looking forward to learning more about your business as we go,
    Erin.

    #2003
    Sean Skehen
    Participant

    Thanks for your feedback Erin! I am operating a General Contracting business called Saint Properties, that mostly handles residential repairs, renovations or re-models. I have been learning as much as I can about real estate investing over the last few years and is a direction I would like to take my business. Basically, acquire the real estate, renovate or develop, then sell or lease. All handled in house. The current project I am working on is acquiring an old shipyard.

    #2014
    Judy Evans
    Keymaster

    Sean,

    For your real estate business, are you aware of the capital gains tax implications for non-primary residence? If so, great! If not, this is a critical factor in planning a real estate buying and selling business.

    Judy

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