Month: April 2021

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

5 Proven Strategies to Transform Your Virtual Meetings from Time-Wasters to Productivity Powerhouses

Have you ever sat through a virtual meeting that felt like a waste of time? You’re not alone. Virtual meetings have become essential to modern business, not just an alternative. The video conferencing market grew from $6.62 billion in 2022 to $7.26 billion in 2023, with a 9.7% annual growth rate[2]. With teams scattered across different locations, these digital gatherings enable real-time communication that’s critical for business success.

But there’s a problem: when virtual meetings lack structure, they drain energy and waste precious work hours. I’ve witnessed brilliant teams lose momentum simply because their online sessions weren’t designed for success. The good news? With intentional adjustments, your virtual meetings can become engaging, efficient, and actually energizing.

As someone who’s built a cloud-based business from the ground up, I’ve learned what makes virtual collaboration work. Recent research shows 67% of professionals believe virtual meetings can be just as productive as in-person sessions[1]—when done right. Let me show you how to make that happen for your team.

Understanding the Virtual Meeting Landscape

Virtual meetings have followed a similar explosive growth pattern to the internet in the 1990s[4], transforming from occasional tools to business necessities. They enable teams to connect across cities and time zones, providing benefits of virtual meetings that include flexibility, reduced travel costs, and broader participation opportunities.

But virtual meetings come with challenges: technology hiccups, engagement struggles, and the screen barrier that can make personal connection difficult. Understanding these dynamics is the first step to turning virtual meetings from potential time-wasters into productivity drivers.

Preparing for Success in Virtual Meetings

Success in virtual meetings starts long before you click “join.” This preparation phase sets the foundation for everything that follows.

Testing equipment and connections

I’ve lost count of how many meetings start with “Can everyone hear me?” followed by precious minutes solving audio problems. These preventable delays hurt momentum and professionalism.

Here’s my pre-meeting checklist:

• Test your webcam, microphone, and internet connection 5-10 minutes before start time
• Use a headset with a built-in microphone for clearer audio
• Close unnecessary applications that might slow your connection
• Implement proper remote work security measures to protect sensitive information
• Always have a backup plan—phone dial-in numbers or alternative meeting links

This preparation creates a smooth professional experience that respects everyone’s time.

Designating roles for structure

A startling statistic: only 37% of meetings result in actual decisions, and 73% of professionals admit to doing other work during meetings[3]. This happens when no one takes responsibility for meeting structure.

For meetings with more than three people, I always assign these roles:

• Facilitator: Keeps the meeting flowing and on-topic
• Timekeeper: Monitors the clock and signals when to move on
• Notetaker: Records key decisions, action items, and responsibilities

With this structure in place, attendees can focus on contributing rather than worrying about who’s tracking what.

Engaging Participants in Virtual Meetings

Engagement doesn’t happen by accident—it requires deliberate techniques to pull people into the conversation.

Interactive tools and techniques

The best virtual meetings use platform features to create interaction:

• Run quick polls to gather input and spark discussion
• Use breakout rooms for small group brainstorming
• Enable chat for questions and comments without interrupting speakers
• Use digital whiteboards for visual collaboration

These aren’t just bells and whistles; they’re essential tools that create multiple channels for participation, especially for those who might not speak up otherwise.

Encouraging full attention

Did you know 92% of workers multitask during virtual meetings[3]? This divided attention undermines the entire purpose of coming together.

Zoom fatigue is real, according to video conferencing fatigue research, but you can combat this with focused engagement strategies:

• Request cameras on when possible (understanding some exceptions)
• Create “no multitasking” zones for critical discussions
• Share responsibility by rotating who leads different agenda sections
• Keep meetings under 45 minutes when possible
• Add movement breaks for longer sessions

These practices build a culture of presence and participation that elevates meeting quality.

Choosing the Right Software for Virtual Meetings

The platform you select can either enhance or hinder your meeting experience.

Selecting user-friendly platforms

I recommend choosing platforms that align with your team’s existing workflows:

• Zoom: Excellent for breakout rooms and larger meetings
• Google Meet: Perfect for Google Workspace users
• Microsoft Teams: Ideal for organizations using Microsoft 365

The best platform is one your team can use without friction. Consider integrating mobile business management apps to streamline remote workflows and keep teams connected on the go.

Integrating AI solutions

AI tools have transformed how we capture and process meeting information:

• Automatic transcription: Creates searchable records without manual note-taking
• AI meeting assistants: Summarize key points and track action items
• Meeting analytics: Provide insights on participation patterns and engagement

At Complete Controller, we use these tools to ensure nothing falls through the cracks, especially for financial discussions that require precise documentation.

Building Strong Virtual Meeting Etiquette

Good etiquette creates a professional environment where everyone can contribute effectively.

Setting ground rules

Clear guidelines reduce friction and create meeting harmony:

• Mute when not speaking
• Signal when you want to speak (hand raise feature or chat)
• Minimize visual distractions in your background
• Start and end on time
• Come prepared having read any pre-meeting materials

Implementing efficient paperless office solutions can reduce on-screen clutter and create a more organized digital workspace for your meetings.

Promoting inclusivity

Research shows that 70% of workers find virtual meetings less stressful than in-person ones[2], but this benefit only applies when the environment feels inclusive.

To ensure everyone feels valued:

• Use gallery view to see all participants equally
• Actively invite input from quieter team members
• Create structured participation opportunities (round-robin updates)
• Provide meeting materials in advance for those who process information differently
• Follow up with those who couldn’t attend

Inclusivity isn’t just nice—it’s necessary for getting the full value of your team’s diverse perspectives.

The Benefits of Hybrid Meetings

As offices reopen, many organizations are adopting hybrid models that combine in-person and remote participation.

Integrating in-person and remote participants

Effective hybrid meetings require thoughtful setup:

• Position cameras to capture everyone in the room
• Use quality microphones that pick up all in-room voices
• Display remote participants at eye level on screens visible to everyone
• Use collaborative tools accessible to both in-person and remote attendees

Case study: Successful hybrid meeting execution

I worked with a financial services startup that transformed their hybrid meetings by mounting screens at eye level to display remote team members—treating them as equal “seats at the table.” They combined this with round-robin facilitation and AI-powered summaries. The result? Attendance increased by 32%, and participation from remote team members jumped by 45%[5].

Conducting Effective Virtual Meetings: Best Practices

Let’s pull everything together with some overall best practices.

Creating a clear agenda

Send your agenda at least 24 hours before the meeting and include:

• Meeting objectives and desired outcomes
• Topics with time allocations
• Required pre-reading or preparation
• Who’s leading each section

A structured agenda is the roadmap that keeps everyone aligned. For more guidance, check out these resources on how to conduct effective virtual meetings.

Effective facilitation techniques

Strong facilitation makes the difference between meandering conversations and productive discussions:

• Start with a quick personal check-in to build connection
• Clearly state the meeting purpose and expected outcomes
• Use timeboxing to keep discussions on track
• Actively manage participation to prevent domination by a few voices
• End with clear next steps, responsibilities, and deadlines

Conclusion: From Virtual to Vital

Virtual meetings aren’t going away—they’re becoming more central to how we work. With the right preparation, tools, and techniques, your virtual meetings can shift from frustrating to focused, from draining to dynamic.

The strategies I’ve shared aren’t complicated, but they do require intention. Test your equipment, assign clear roles, engage participants actively, choose the right platforms, establish good etiquette, and run meetings with purpose.

Ready to transform your virtual meetings? Start by implementing just one or two of these strategies this week. Then add more as they become habit. Your team will thank you, your productivity will increase, and your business outcomes will improve.

For more support on optimizing your remote business operations, including bookkeeping, controller services, and financial management, visit Complete Controller. We’re experts at helping businesses thrive in virtual environments.

FAQ

What are the most effective tools for virtual meetings?

The most effective tools include Zoom for larger meetings with breakout capabilities, Microsoft Teams for Office 365 users, and Google Meet for Google Workspace users. For enhanced productivity, consider adding AI transcription tools, digital whiteboards like Miro or Jamboard, and collaborative document platforms like Google Docs or Microsoft Office 365.

How can I keep participants engaged during virtual meetings?

Combat the 92% multitasking rate by using interactive elements like polls, breakout rooms, and chat features. Rotate discussion leaders, keep meetings under 45 minutes when possible, encourage camera use, and build in participation opportunities for everyone. Creating a “no multitasking” culture also helps maintain focus.

What’s the best way to include remote team members in hybrid meetings?

Position cameras to capture everyone in the room, use quality microphones, display remote participants on screens at eye level, and employ digital collaboration tools accessible to everyone. Most importantly, actively invite input from remote participants and establish turn-taking protocols that give equal voice to in-room and virtual attendees.

How do I prepare for a virtual meeting to avoid technical issues?

Test your audio, video, and internet connection 5-10 minutes before the meeting starts. Close unnecessary applications, use a headset with a built-in microphone, ensure your meeting space has good lighting, and have a backup plan (like phone dial-in information) ready. Implementing proper security measures also protects your virtual meetings from disruptions.

What should be included in a virtual meeting agenda?

A good virtual meeting agenda includes clear objectives, topic list with time allocations, who’s leading each section, any required pre-reading, and the desired outcome of the meeting. Send it 24 hours in advance to allow participants to prepare, and follow it closely during the meeting to maintain focus and efficiency.

Sources

• Flowtrace. (January 24, 2024). “65 Surprising Meeting Statistics for 2025.” https://www.flowtrace.co/collaboration-blog/50-meeting-statistics
• Notta.ai. (October 11, 2024). “100+ Eye-opening Meeting Statistics in 2025: Virtual, Productivity.” https://www.notta.ai/en/blog/meeting-statistics
• Flowtrace. (January 21, 2025). “State of Meetings Report 2025.” https://www.flowtrace.co/collaboration-blog/state-of-meetings-report
• Smith, A. (2020). “Digital Revolutions: From Internet to Social Media.” Digital Journal.
• MeetGeek. (April 10, 2025). “What is Virtual Meeting & What to Expect in 2025: A Look Ahead.” https://meetgeek.ai/blog/what-is-virtual-meeting-and-what-to-expect-in-2024
• Stanford News. (February 23, 2021). “Zoom Fatigue Explained.” https://news.stanford.edu/2021/02/23/zoom-fatigue-explained/
• Pew Research Center. (March 30, 2023). “Most Workers Who Can Work From Home.” https://www.pewresearch.org/fact-tank/2023/03/30/most-workers-who-can-work-from-home/
• Harvard Business Review. (March 2020). “What It Takes to Run a Great Virtual Meeting.” https://hbr.org/2020/03/what-it-takes-to-run-a-great-virtual-meeting
• Complete Controller. “Mobile Business Management Apps.” https://www.completecontroller.com/mobile-business-management-apps/
• Complete Controller. “Efficient Paperless Office Solutions.” https://www.completecontroller.com/efficient-paperless-office-solutions/
• Complete Controller. “Remote Work Security Post-Covid.” https://www.completecontroller.com/remote-work-security-post-covid/
• Everhour Blog. “Virtual Meeting Etiquette.” https://everhour.com/blog/virtual-meeting-etiquette
• Zoom Community. “Best Practices Forum.” https://community.zoom.com/

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

It is important for the owner of a firm or a large-scale manufacturing organization to keep a close eye on the evolutionary change in business trends. This is particularly important in the era of globalization, where completion is becoming an essential part of the business model. Adaptation of a few business trends can prove too fruitful for the organization, as they have been a source of curbing expenses and real-time portfolio management. Another aspect is the firms may not have budgeted such influx into their business operation. A certain percentage must be provisioned or buffered into the budget to absorb any capital expenditure.

Advancement of the technology in business software applications has made the lives of management easier when it comes to decision-making. Technology makes it easy to predict multiple tangents and scenarios on a real-time basis. Most of the application software has embedded artificial intelligence. Based on the chronological pattern of pre-consumer buying behavior, the software can predict the post scenario. Furthermore, many modules and soft business wares have inter-compatibility and can be easily interfaced with each other. Even if this might not be the case, the data from different modules can be extracted to a data mart, and then the core MIS engine can run diagnostics and various reports. The telecommunication industry uses Geolocation and Geofencing to provide their consumers with extraordinary services, such as their nearest POI (Point of Interest). These two features are already part of the business application that warrants GPS (Global Positioning System), such as navigation systems in automobiles.

Many organizations have adequately utilized the platform of android application and come up with their own mobile applications. These platforms help sustain their existing market shares and provide their consumers with a unique and enhanced experience. Many social media giants and search engine experts have come up with various algorithms that can track the movement of the consumers, which facilitate the organizations to beef up their existing market. In some organizations, the impact has been substantial, as such technology advancement has led to an unnecessary cut in cost and simultaneously increases the revenue. Similarities and habitual consumer visits while computing consumer-buying behavior have reduced repetition in customer service, rid unwarranted paperwork, and predictive scheduling.

Large-scale corporations allocated high expenses toward the advertisement, promotional material, and media buying in the traditional era. For niche product segments, such corporations stick to this preferred methodology due to their legacy and cultural heritage.

However, FMCG and retailers have effectively utilized social media to market their products and run time-bound promotional offers. Furthermore, with the help of social media, the customers have started developing community-based marketing campaigns that only create awareness and provide participation-related incentives. Due to community-based marketing, some organizations have segmented their target market into small communities. Since running banners and advertisements on social media websites are less costly, the outreach of these firms has amplified two-fold. The content, which once appeared to be serious and brand conscious, is no longer serious. The literature is casual and captures the attention of the audience of all age groups.

In addition to the abovementioned scenario, organizations are now involving third-party management consulting firms to conduct research and studies. It implies that organizations are now seeing how important social learning is. In this process, the organization views competitors as peers and as a source for identifying gaps.

In this era of globalization, the consumers buying behavior is complex and sophisticated. The end-consumer takes thorough research before they purchase any items, as they are exposed to an array of the product suite. They research the organization by thoroughly going through their websites and reading their online reviews. The top management of the organization needs to make the customer experience enriching for the target audience. Focus on personal and interactive experiences, as it will give an idea to the professional marketing executives.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Modern management accounting techniques are more technologically efficient as opposed to the conventional budgeting approach. In addition, experts also argue that the traditional approach lacked efficiency and did not have the capability to factor in technological advancement and other resources. The traditional budgeting approach does not have the capacity to create a contingency budget or plan-B if there be a worst-case scenario.

Another aspect of management accounting techniques ensures the availability of real-time information in an organization, thereby helping management take proactive action to overhaul their strategic route.

Therefore, a firm needs to invest in technology so that the accuracy of a detailed Management Information System is available for decision-making related to budget and strategy. Companies that are adamant in continuing with conventional budgeting techniques tend to fall behind due to the non-availability of a precise Management Information System. Hence, it is nearly impossible for management to take appropriate strategic and financial action.  It is important to compare the traditional budgeting approach and modern budgeting techniques, but adopting the modern budgeting approach is preferred since it provides extensive and intensive availability of information.  This availability of information ensures that core management can make educated decisions to improve the organization’s performance proactively.

The notion of limiting the organization to single production has now become outdated because of fierce and cutthroat competition. This means organizations should add diversification to the product line and market development if they want to keep pace with the competition. Multinational organizations involved in Fast Moving Consumer Goods (FMCG) like Unilever, Colgate & Palmolive are manufacturing assorted and varied goods to increase their business operations. Therefore, it is has become crucial for FMCGs to adopt prevalent modern budgeting techniques if they have a diversified product line and market segmentation. In doing so, an organization will then break down the budget product-wise, and instead of having a top-to-down approach, the assimilation of the budget will follow a bottom-to-top approach. This makes it easier for management to divide the budget product-wise and proactively readjust their budget per market customization.

Technological advancement is clear for an organization that employs modern budgeting techniques as it enhances efficiency and performance. Below are mentioned some of the budgeting approaches frequently adopted by the modern organization:

• Incremental Budgeting
• Flexed Budgeting
• Zero-based Budgeting

These modern management accounting techniques approaches are developed and implemented to maintain the customer satisfaction level of experience.

Modern organizations, which vary from one another in terms of their products and customers, altogether conclude that there is a strong affinity with the efficiency and performance of modern organizations. A few modern management accounting techniques for the modern organization are listed below:

Planning

In the strategic planning process, the task of budgeting is crucial. It is important for modern organizations to have flexibility in their budget to stay aggressive with competitors. Since the economy goes through the process of evolution, planning should be done accordingly. To sustain and expand their market share, it is vital for a modern organization to be well-informed of any economic changes and tune their budget planning accordingly.

Performance Appraisal

Currently, performance appraisal is an indicator of how deep the thought process was during the budgeting process. The entire process of evaluating the performance of the company can be ascertained through the process of modern budgeting. It informs the company of the capacity and utilization of resources to enhance and improvise performance evaluation mechanisms.

Flexibility

An organization that is adaptable and flexible can endure the upheavals on a long-term basis. Flexibility does not only include pricing strategy but also involves product development, market development, segmentation, distribution, and diversification.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

There are many ways to celebrate the new year if you have excess cash. If you own a company, consider giving the employees a bonus. If you are the sole owner of the money, then here are a few suggestions:

Buy a House

This is a no-brainer: if you have cash left over after paying for food, rent, utilities, and other necessities, then buying a place to live would be a cost-effective measure on your part. This way, even if an emergency happens, you and your family still have a roof over your head. If you still have cash left over, help a family member or friend out with their dream home, as well!

Throw a Party

Go all out and throw the best party of the year using cash! If you are throwing the party at your home, there are many restaurants that can deliver, but catering companies would be ideal. You can also bring in an event management company to decorate the hall as per the theme you choose.

Go on a Cruise

There are many ship cruises available to choose from. Why not take advantage of your excess funds and go for the change in pace? It will relax you and energize you once you’re back at your office desk. You can choose a themed river cruise, as it is both educational and provides you a memorable experience. For example, if you’ve always wanted to learn how to paint, Uniworld, voted the world’s best, runs floating art workshops with its own art instructor. It was voted in by Travel + Leisure Magazine in 2016. The sketch material is free, and classes fill up fast.

Invest in Mutual Funds

Why not invest in a share of mutual funds? It is different than investing in stocks in that it does not give its holders any voting rights. However, a share of mutual funds means that you have invested in many different stocks. Due to the volume of buying and selling of mutual funds have lower transaction costs, and you are able to diversify without paying the many commission charges. If you really have a lot of excess money, why not set up a trust fund for a loved one, as well?

Fund a Wedding

Many couples out there would love to have the wedding of their dreams but are financially strapped and thus unable to do so. Why not find out from the local church, mosque, or synagogue whether couples need help getting married. This goodwill gesture will go a long way with people of that religious affiliation.

Give to Charity

There are multiple charities to choose from if you decide to give your excess money to a good cause. Apart from giving money to research different diseases, there are many wars going on in the world that have left the common man needy and helpless. Do a little research beforehand. According to a 2015 literature survey, 90% of charitable organizations have weak or no positive effect in the cause they claim to benefit.  

Exercise with a Trainer

If you are like most other people, going to the gym seems a humongous task. If you have the money, why not hire a trainer to help keep yourself motivated and on the right track towards your health aims?

 

Summary

Not many people in the nation can claim that they have excess money to play with. If you do, then try to ensure that it is well-spent. Make the most out of it by helping yourself and others – the goodwill you generate will definitely pay off in the long run.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Asking for a salary increase is something deeply rooted in the culture, but here we are still “afraid” of asking for something that surely corresponds to us if we have been doing our job well. Let’s see what you can do if you want to ask your boss that it is time to raise your salary.

1. Choose the time to ask for the salary increase

The first thing you have to do is find the right time. If you have been in the company for a while, you already know if it works well or not, and you will even know how to detect the signs that indicate if you are in a moment of prosperity or if problems are coming.

2. Follow the internal protocol

Your performance may be so good that you deserve a salary increase. But if you ask for it inappropriately or to a person who has no decision-making capacity on this issue, your request may fall into a broken sack.

3. Prepare your exhibition

Surely in your company, they already know how valuable you are, but if you are going to ask for a salary increase, you will have to “sell” a bit, highlighting all the good you have contributed and that you can contribute.

4. Prepare the documentation

As we have just pointed out when talking to your boss, nothing about looking at the “chop” with the script to defend your arguments. But what you should have on hand and show your interlocutor are the documents that can help your argument.

5. Don’t focus only on yourself

It is clear that if you are going to ask for a salary increase, the conversation will revolve around you, but you should not forget to value the company.

Let your boss see that you are comfortable with your work and that you value what the company brings you. Precisely because of what you contribute to the company and what she brings to you, you want this relationship to be long-term. A salary increase would help strengthen that relationship.

6. Ask without demanding and without specifying

If you have decided to be brave and take the step of asking for a raise, do not back down when asking, but do it with discretion. Experts advise not to ask for a specific figure. Instead of asking for a certain amount of money, propose to your interlocutor an upward revision of the salary range.

The good news about asking for a salary increase

The 2019’s report of the Wall Street Journal reveals American growth in wages will increase next year because many economists predict a competitive labor market will continue to raise employee’s pay. According to the recent private-sector forecasters, around 63.6% of wages will increase next year, and 5.5% of wages will rise fast and substantially.

Workers who have $150,000 income or more than that received the requested amount of the time, 70%. That rate is 25% in comparison to those who earn $10,000 to $20,000 every year. The research report of PayScale (compensation data and software company) estimated the poll of over 160,000 people.

According to the survey of 40% of workers, they got an increment in their salaries with the exact ratio as they requested. But, the remaining 31% of people claimed that they got less as they asked for it. Budgetary constraints compel people to ask for a salary increase. Budgetary restraints are a rationale that the majority of respondents don’t believe.

The majority of employers only consider increment requests. There is no salary increase, even for valued employees. In a world full of talents, employee retention is a major concern for around 66% of organizations. This ratio is in comparison to a 59% rate for the year 2018. The turnover rate of a powerful market has increased as per the belief of 47% of HR and business leaders.

Asking for a salary increment is scary

Such kind of request is somewhat scary whether you have done effective planning. It becomes a crapshoot when you ask for a salary increment without planning and preparation. Also, you lost the best chance of getting consent for pay raise. As a result, the employer gets an opportunity to ignore this request. He/she will never want to discuss with you again unless you contribute to your job or something changes at the workplace.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

We must identify our strengths and opportunities and resolve our weaknesses and threats to focus on our path and enrich our career planning and development. Focusing on a career now is not that easy, especially when advancement and specialization are evolving rapidly.

To maintain the connection between our skills and employability, it is essential that we frequently revisit our goals, identify our strengths and weaknesses, and update our plans accordingly. Many businesses employ a SWOT analysis, which was designed for career planning and aligning our goals. SWOT stands for Strength, Weakness, Opportunity, and Threat, focusing on internal and external factors.

Personal SWOT Analysis

If we were to imagine how a SWOT analysis looks like we can look at the headers below:

Strengths

• Adaption to new methodologies or evolutionary change is not a cumbersome task. This adds flexibility to my approach in any desired situation.
• Being organized has been a part of a trait from early childhood, imparted as part of discipline; I have proven myself to excel in active communication skills (speaking and writing), interpersonal skills, teamwork, and
• After witnessing turmoil and upheaved political scenarios, I have learned to keep myself self-motivated, innovative, and patient.
• Giving respect and appreciating other people’s opinions has earned me honesty and established credibility and integrity.
• Having an open-minded approach, despite belonging to a conservative family and tradition, has quickly allowed one to learn new traits and attributes. Furthermore, by being ambitious, the learning curve has no tangible boundaries.
• Belonging to a business-oriented family will empower you with practical decision-making and conflict resolution abilities. We believe with these characteristics in your personality, fortified by a degree in Business and Management, can make you a charismatic entrepreneur and display ethical leadership qualities.

Opportunities

• With a business-oriented family background, it is viable for you to take calculated risks with broader knowledge and perspective of the prevalent business environment.
• There are independence, freedom, respect for opinions, social networking opportunities, and community events as a volunteer.
• There are numerous opportunities to augment and fortify interpersonal skills; workshops are held to enhance training and leadership skills, special classes related to speech/talking platforms (like TED Talk), or opt for courses/classes and online tutoring.
• Getting feedback from classmates or teachers is much unbiased together with positive reinforcements.

Weaknesses

• We are experiencing specific learning difficulties, such as getting distracted, difficulty processing phonological comprehension in terms of accent, thus leading to weak learning competence and adding visual stress. This makes me a non-proactive person in public speaking and presentation, which are extempore in nature.
• Though being ambitious and patient, being fussy, obsessive, and pedantic makes one anxious and forces me to take unnecessary risks.
• Humor is not part of my attitude if you are not much well-versed with multitasking now, which adds reluctance to attitude and makes it difficult to comprehend visual representations (charts and graphs).
• Even though daydreaming has been proven good for intellectualism, you may still tend to drift away from the task.
• As earlier said, I exhibit impatience; it is simply because I am too concerned about my education, relevant qualification, and career (future employability).

Threats

• Cultural background difference does not lift your self-esteem, which relays into failure, missing deadlines, and honoring financial obligations, as blending into an alien culture is not quick to digest.
• Coming from a different part of the world, where it usually takes not much time to get acquainted, on the contrary, in the US, it takes time to get socially connected with other cultures. Understanding their language, way of living, and pace of life.

Action Plan

In line with David Kolb’s cycle of experiential learning and aligning with the SWOT analysis highlighted above, below-mentioned are the action points. Furthermore, Kolb’s 4-stage cycle of experiential learning advocates that effective beginners must engross fully in the apiece stage of the cycle feeling, reflection, thinking, and action to develop SMART Goals and improvise accordingly.

• Perform an extempore talk with confidence with the aid of a presentation on international business studies in front of a like-minded audience by the end of the year.
• Improve my English speaking and writing skills by adhering to auditory learning, at least 3 to 4 times a week on an ongoing basis.
• Create a wide range of contacts through social networking with different societies of other cultures by participating as volunteers in their respective community events at least once a quarter for two years to fill the communication gap and interact without any hesitancy.
• To fulfill my financial obligations by doing a part job as a research associate in my college for two After completing my studies, I intend to be an apprentice in a financial consulting firm for two years to earn experience and practical exposure. However, on a long-term horizon (5 to 10 years), I envision myself being in an executive management position, preferably financial investment industry, or starting my own business as a CEO.

Conclusion

Both conceptual and experiential learning have been significant learning methodologies within education (accounting, business, and management). Consequently, SMART goals should go hand-in-hand with the self-pointed-out SWOT to eradicate or minimize any impediments from an excerpt written above. Goals can either be short-term or long-term in nature, depend on the SWOT, but it should be kept in mind that the goals need to be an extension of SWOT and aligned. Furthermore, it is important to mention here that the end objective is the personal development leading to employability.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Starting a business can undoubtedly prove to be a challenging and gratifying effort. For most people, a small business is an excellent chance to make their dreams and passions become a reality. Though starting a business can be simple, there are challenges and difficulties that startups face in the first year.

The first eighteen months of business are the most challenging and the time where a business can sail or fail. You must understand the challenges before the beginning, and you can be prepared to face them and succeed. Here are seven challenges most businesses face before startup and into the first year and how to overcome them.

Identifying Your Market

For the business to succeed, you need to understand your market thoroughly. This understanding is both in the local aspect and in the online environment. You also need to understand your place in the market and how you want to fit into it to maximize sales. You can have the best business idea and even the right amount of starting capital, but if you don’t understand the market, you will have more difficulties than you should.

Building Your Team

When you are building your business, you need to focus on building your team heavily. Depending on the size of the business or team you are building, every team member must be qualified and fit into the team dynamic. Skills and personality, and the ability to work within the team are equally important.

Building Your Finances

Cash flow is essential for a business to grow—one of the main challenges that startups face today is finance the business. As income increases, the expenses also increase. Small businesses primarily depend on investors to give them financial support. There are also other financing sources such as loans, dipping into savings, or getting family backing. No matter the source of financing, it is a large part of your focus as a startup.

Building Customer Relationships

Many entrepreneurs tend to work on their business or startups separately, which means they spend too much time building what they think is correct. When the focus becomes heavily focused on the business side of things, often customers are forgotten. You must focus on the customers from the start as much as you focus on logistics.

Concentrating on maintaining a user base for your online presence rather than seeing online users as potential customers can be a mistake.  Again, you must focus on and identify customers and potential customers from the start.

Setting Your Expectations

The best way to set expectations correctly from the beginning is to create a business plan. This business plan should be detailed and well-researched, and as accurate as possible despite the need to estimate and project. You also set the expectations of investors, staff, and potential business partners through a well-written business plan.

Learning Through Trial and Error

You will make mistakes, and you can only learn from them. Sometimes a business owner can find best practices or gain advice from other business owners. However, often the best way to learn is through trial and error. 

Experimenting Before You Start

Businesses often have to concentrate on vanity metrics like page visits or app downloads, or Facebook likes rather than considering metrics that affect the industry. Metrics like the page visits are appropriate to startups in media and not startups in other spaces if page visit straight relates to business objectives. Most people complicate on what metrics affect the business and lose concentration.

There is no uncertainty that testing is better for the startup’s health. Although, overdo it, and you start risking your startups. It is also great to remember to assess the experiments and their outcome thoroughly before removing them or adopting them.  The most important thing to remember is you are looking for the best possible outcomes for you and your startup business to be successful.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Sometimes, there are emergencies in family finances. A problem may arise, like the need to make a small reform of your home. You may not have all the money you need to deal with this unexpected situation. Therefore you may experience emotional stress in which many doubts arise. One of the first things you might wonder is if re-leasing your home is a good solution.

In this case, you are similar to most homebuyers; you’ll need a home loan to back the acquisition of another house. To qualify, you should have a decent FICO assessment and money for an initial installment. Without these, the customary course to homeownership may not be an alternative.

How much is it going to cost me? Is it a good option to expand and get that extra capital that I need? Is it worth it, or is it better to ask for a new loan? Normally, doubts and worries take your sleep away. Do not worry! We will share with you the answers you need.

One of the most often posed inquiries via proprietors is whether to lease or rent their investment property. Albeit a part of the mortgage, holders have clearness on contrasts between the two sorts of arrangements. The lion’s share of proprietors is uninformed, with less information on the “nitty-gritty.”

Renting is a type of understanding among landowners and the occupant. The property’s tenure is for a more drawn-out timeframe, ordinarily from a half year to 3 years. In this sort of tenure, the rent sum is paid by the inhabitant in one single go with no choice for the proprietor to settle on changes to the occupancy’s arrangement terms during the rent time frame until the two players concurred. While tenant contracts occasionally reestablish a month-month, a rent arrangement endless supply of the rent time frame.

Each landowner has his/her conditions to manage when searching for tenure for their property. Henceforth, they should understand that leasing and rent are extraordinary. There are downsides to these arrangement choices. These decisions require a certain understanding of the matter and careful analysis of the outcomes that could follow.

Re-lending a regular home is a good solution to get additional capital in better conditions compared to a personal loan. The interest rates on these types of loans are usually higher than those of a mortgage.

What does re-mortgage a home consist of?

Re-lending a flat or house consists of canceling the mortgage you have and hiring a completely new one. The loan amount will be the sum of the money you have left to pay from the old mortgage plus the extra amount you want the bank to grant you for that unexpected need.

The way to achieve this is quite simple: for the bank to analyze your financial situation and your ability to respond to the new mortgage.

To fully understand what a home re-mortgage is, you must keep in mind that it has a series of associated expenses. The operation has two steps: cancel your old loan and hire a new one. You will have to pay the cost of both actions.

First of all, if your mortgage has a cancellation fee, you will have to pay it even after hiring an additional one. Remember that it is usually a percentage of the amount of money you have left to pay. You have to sign the public deed of cancellation, which implies notary, management, and registration expenses.

Secondly, you will face the expenses of constituting a new loan. Although it depends on the entity, the most common is a new appraisal of the property, agency, notary and registration costs, and opening and study fees.

Conclusion

When it comes to property situations, leasebacks are more common among people struggling with financial problems. It is also a preferred choice among individuals who need access to money they have invested in their homes. With time, more and more retirees opt for leaseback options as it allows them to keep living in their homes and have more money for their retirement.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When a company is formed, initially, the finance is made by the individuals privately or by the reinvested profits. Many of the investors are not willing to take risks connected with an unknown company. As the organization grows, the sources of finance made initially may become deficient in order to invest in heavy investments required to grow the business further, which are beyond the resources of a company or an individual. Thus, a need to finance from other sources arises.

There are three groups of sources of finance; Short-term finance (these finances are for the period up to one year), medium-term finance (which are from the period between one year to five years), and long-term finance (which are from the period of over five years).

Short-term Finance

Working Capital Finance

The working capital is calculated as the current assets of a company minus the current liabilities. The surplus amount shows how much a company has exceeding current assets in hand. The business’s current assets include stock held, debtors, short-term investments, and the cash in the bank. Whereas the current liabilities include the company’s short-term liabilities, which the company had to pay within one year. Consequently, a business’s working capital is an amount of capital the company can make available in the short term.

Bank Overdrafts

Banks are the most common source of finance and borrowings available to any business organization; the banks provide money as an overdraft or a loan. The overdraft is a source of finance offered by the clearing banks mainly. These sources have the advantage of being flexible in the sense that the company can draw the capital against the limit previously agreed.  The interest in the overdraft is calculated on a daily basis over the outstanding amount and is usually 2 to 3 percent higher above the prime rate.

Medium-Term Finance

Finance Houses

The finance house operates as a business entity that extends funds to the commercial, industrial, and consumer segments in many forms, such as leasing, hire purchase, and loan agreements. Like other commercial banks, financial houses acquire capital by accepting capital deposits from customers, including commercial and industrial concerns. Financial institutions also borrow the amount from banks as well as from other financial houses.

Sale and Leaseback

When a business faces monetary difficulties or has the need for additional finances to invest in a future growth opportunity, it might become necessary for them to sell some of their assets. If the company possess freehold property or it has an extended leasehold, the company can raise their capital by selling or mortgaging of a property at a price of the market. A sale and leaseback is another way for the companies to avoid selling and mortgaging and still elevate as much finance as possible against the company’s property.

Bank Loans

The bank loans are considered the medium-term finance that is attained for situations, which require finance for more than one year and up to five years. The interest rates on the term loans are generally higher than the rates of overdraft. The cost of this source of finance is higher than the other sources as the bank charges interest on the capital provided and the set-up fee also charged by the banks, which can be 0.5% of the amount lent.

Long-Term Finance

The three long-term sources of finance are the issuance of shares, retained profits, and debentures.

Issuance of shares

Business organizations can raise added financed by the issuance of new shares; it can be done to the public or even to current shareholders. The procedure of the issuance of new shares can become an expensive process, and therefore it is restricted to raise only the amount that is large enough to offset the cost of financing.

Retained Earnings

One of the substantial sources of finance is the use of retained earnings. This finance source is considered most suitable if available as it does not require the payment of interest expense.

Debentures

The term debentures have two different significance due to the difference in the United States and the United Kingdom concept. In the US, debenture means an unsecured debt, whereas it refers to the secured stock in the UK. In any case, the debenture is an inscribed salutation of long-term debt with more than fifteen years of maturity periods.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Owning a business is no easy task and needs to be handled with caution. When it comes to tax strategies, there are many things you need to look out for. The corporate tax draws up to one-third of the profits of a company.

There are legal methods whose magic formula holds in two words: tax optimization to limit the mowing of its cash.

From the reduction of the taxable profit to the total exemption of the IS, you are given ten tips to preserve the wealth created by your company from the pockets of the authorities.

Here are some tips:

1. Play on your depreciation

Investment = Immobilization?

Revise your classics. The legislation allows, in some cases, to spend your investments in deductible expenses, such as research and development expenses. But even when investments are to be classified as fixed assets, it is possible to play on the duration of depreciation to reduce the IS. Based on the tax administration scales, opt for the shortest duration to accelerate the depreciation and quickly reduce the taxable profit. The idea is to depreciate the entirety of the decreasing amount.

2. Report your deficits

A deficit is not a catastrophe for your company!

It can help you reduce taxable income in a year and even in the previous year. A deficit result can thus exempt you from corporation tax during several beneficiary years while respecting a ceiling of one million euros (for a carryback, with a possible increase for a carry forward). For example, a significant deficit over a financial year, as a result of large investments, may give rise to a tax claim via a carry-back or an exemption for several subsequent years via a carry-forward.

3. Increase your provisions

Be careful; you will be a double winner!

Provisions help to deal a blow to your company, but they are also a way to reduce your taxable profit, and therefore your corporate tax. But beware: the amounts provisioned must meet certain conditions so as not to attract the tax authorities’ wrath. They must relate to deductible expenses and be the subject of an accurate estimate of the risk provisioned. It relates to a probable loss resulting from events taking place before the closure of the accounts.

Think about provisions for expenses, easy to anticipate. You cannot, however, provide a dismissal … But for this specific case, you can reduce your IS by subscribing to specific insurance; the premium is chargeable on the taxable result.

4. Boost your income

More in your pocket, less in that of the state!

By increasing your business income, you also mechanically lower the taxable profit. For the operation to be interesting, make sure the sample levels do not turn this trick into a white operation.

5. Finance the complementary retirement of your employees

Kill two birds with one stone with supplementary pensions!

Their contributions are deductible from the IS, which makes it possible to increase your employees’ income without it costing you.

The advantage for you? Offer a more attractive remuneration to your employees, likely to attract and retain them.

6. Get tax credits

Finance your investments with tax credits!

Innovation, research, family, apprenticeship, commercial prospection, business training, CICE … There is a multitude of tax credits applying to the IS. As many opportunities to seize to develop his company at a lower cost, rather than pay a corporate tax without “return on investment” …

7. Create your company in an assisted area

Be rewarded for your entrepreneurial audacity!

By setting up your company in a neighborhood in difficulty or a rural area, you can benefit from a tax exemption on companies. Starting a business in a regional aid area (ZAFR) entitles you to a full exemption from tax credits for the first two years, then decreases over the next three years.

8. Get involved in charity or philanthropy

Make a donation; the state will give you back!

Finally, it will refund you in the form of a reduction in corporation tax of 40 to 90% of the value of the gift if it complies with the conditions set by the tax authorities.

Buy a cultural property considered a national treasure? 40% tax deduction.

Donate to a work of general interest? 60 %.

Contribute to the public purchase of a national treasure? 90 %!

What interest for your company? Benefits regarding the image are more if you build communication around your charitable operation or sponsorship. The donation can also take the form of an employee’s provision, ideal for employing an employee during periods of depression.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.