Month: November 2021

Online advertising has opened many doors of opportunities for small businesses to reach their potential customers with ease. Previously, during the age of mass media advertisement, the competition was stark and dominated mainly by the big fish. A small business couldn’t advertise on television, radio, or newspaper due to the cost it would incur. Therefore, small companies resorted to distributing flyers, door-to-door marketing, and telemarketing. Probably, these were the reasons small businesses found it challenging to succeed back then. However, with the advent of online advertising, it has become easier for small businesses to grow due to its ease and cost-effectiveness. For instance, a small business can easily advertise on Facebook or Google with a few hundred dollars and reach more than a hundred potential buyers. It would have been a dream back in the 90s.

Nevertheless, there are always things to improve on. While online advertising has given way to easy and cost-effective advertising, it also is getting increasingly competitive. Therefore, small businesses might struggle to convert their audience into leads if they cannot present the opportunity the right way. If you are running a small business and wondering how to improve your advertising strategy, then here are a few tips for you:

Tip # 1: Your audience is the biggest draw of the game

Since online advertising is easy to start, most people don’t get into its intricacies and instead keep spending, hoping to get as many customers as possible. No, online advertising is not just about posting and boosting on Facebook. It is much more than that. If you dive a little deeper, social media platforms and search engines offer a lot more that you could work with to reduce your cost and increase your conversion rates. Not selecting the right audience is the biggest mistake most small business owners make. Did you know you can choose the occupation, age, gender, job role, city, state, education level, job title, marital status, and a lot more about your audience? If you have an email list of your existing customers, you can even upload that and ask the platform to find a similar audience for you to advertise. It would increase your conversion and reduce your cost since you will be making more customers per dollar spent.

Tip # 2: Mobile optimization is the key

According to a recent survey, in 2021, around 72% of people in the United States are using smartphones to browse websites, social media, and search engines. That’s a huge number that you need to focus on. Unfortunately, most small business owners are unaware of the importance of mobile optimization. If your website is not optimized for mobile, yet you advertise it on online platforms, you are losing money. When customers visit your website through their mobile phones, they cannot browse through or sign up because your website is not optimized. You would break your call-to-action form, or the signup button might not be clickable.

Tip # 3: Performance optimization of your website

Finally, if you advertise online, you need to have a fast, user-friendly website to convert customers. According to Google, an average person on the internet spends only about 3 seconds on a web page before making a move. If your website does not load within these 3 seconds, you lose your customer. Imagine paying $10 per click, and the visitors aren’t even able to view your website because it takes too long to load. That’s a lot of money lost.

To conclude

While running advertising campaigns online may seem easy, there’s a learning curve for most small business owners. Yes, they are hassle-free and cost-effective, but you need to get yourself familiar with how it works to successfully operate an online advertising campaign.

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.

Accounting is the backbone of your investments, transactions, business, and trades. Two types of accounting exist in the world of digits and money. One is accrual, and the other is the cash accounting method. Both are just a bit different from one another. You might be wondering what exactly is meant by both terms? Let’s clarify it.

Accrual accounting

The accrual method of accounting is beneficial as it provides the complete picture of the incoming and outgoing cash of the company. Regardless of this, the investors choose to pick up these methods as it solidifies the business’s existence much longer than the cash accounting business. We have listed some advantages that might help you to choose between accrual and cash accounting methods for your business:

Make business planning simple: We all are equally knowledgeable about the words of wisdom that business is not an easy task to begin and handle. Accrual methods of bookkeeping can help you get through more efficiently. You can maintain secure data about revenues, profits, and expenses in a brief period. Storing your financial data according to the accrual method will your business be on a lane of being organized.

Help save money effectively: Once you start pinning your credit score and financial statements according to the accrual accounting, you will see a visible decrease in the over-spending habits you once owned. It will amazingly increase your saving decreasing your spending.

The preferable method for investors: Technically speaking, business accounts under the umbrella of accrual accounting are unsurprisingly more organized and strengthened than cash accounting methods.

However, not everything is bright and sunny with the method. As the accrual method is convenient for the firms operating on a large scale, its precise auditing cycle requires a month to complete on a minimum scale. But the transaction detailing reports are filed frequently to ensure that none of the credit details skips the records. It can be a challenge for small-scale businesses as the recording and tracking of accrual accounting requires an entire crew. Small business owners might not be able to afford accrual accounting. Cash accounting would be much more suitable for them; it can be the most sedate drawback in some cases. You are required to clear your tax dues on the payment that is still not received or is still pending. Make sure you take measures that urge the customer to release your payment on time or even before time.

Cash accounting

The dealings and receiving confined with the in-hand cash are cash accounting. Here, cash is the pawn that can be a checkmate for you and your business. There are no second thoughts in the fact that along with plenty of benefits, cash accounting also has a bit of drawback that can startle your business foundation.

Cash accounting methods are used mainly by businesses that operate on a relatively small scale. Some of the aces of cash accounting are listed below:

Represents the accurate picture of your business: Cash is the head of the company, and the cash flow is crucial to maintain. One most measurable benefit of cash accounting is that it helps you interpret how much cash you have saved and spent in a specific time.

Holds you from making decisions based on predictions: Cash accounting methods can save you from making decisions that can be risky for your mature and established business. The plan of actions you align for your trade is more practical, with minimum chances of potential financial loss. 

Convenient recording: The financial data, transaction details, and credit scores are simple to understand and record with the cash accounting method. The method is based on the management paid or earned in-hand cash. Also, you do not need to hire professional financial experts to align the record of whatever you debit or credit.

Cash accounting also has some rip-offs that can be a bit pushing for the business you run. In some cases, you might miss out on one or maybe two customers that have not cleared their payments. Remember to pen down each detail to resist financial losses. Business liabilities are not shown; you assume that you have much more money to spend than you have. Such unconsciousness can cause you and your businesses significant damages. 

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.

An investor has two things: a critical mind and a wish to multiply their wealth.

If you’re here right now, reading this article, chances are you have both. But taking the plunge the first time can be a little intimidating as one doesn’t know if they are making the right choice or are cooking up a recipe for disaster. Continue reading the article to understand what kind of investments you should be looking for.

Every avenue for investment has its own sets of advantages and disadvantages. It would be best if you found out which one suits you best. One does not have to be a millionaire to start investing, which is a common misconception. You could start small and eventually climb up the ladder. All you need to have is the patience and understanding that would allow you to make the right choices and see your riches multiply.

Since you are new to the business, there is one thing you should never forget; do not invest all your money in one area. You should constantly strategize and opt for different avenues to narrow down the chance of losing a considerable sum to a crooked investment.

Yes, investments are not all about gaining money because there is a 50% chance of losing your investment. So, before jumping into the train of investments, make sure you do your homework and make a rational decision.

Why should you invest?

Investments serve as future monetary plans that allow you to prepare in advance. Your assets bring in returns that assist you in making bigger and better investments for the future that would inevitably yield even better results.

With inflation on a constant rise, you must start making investments right now to ensure a better future. You can save up the profit yielded from these investments, or you could invest them too to open new pathways for yourself.

Types of investments

There are different types of investments that are common amongst investors. These modes of investments have brought in exceptional results, which is why they remain fan-favorites.

• Real estate
• Stock
• Insurance policies
• Cryptocurrency
• Mutual funds
• Bonds

Despite being the go-to avenues in the world of investments, all of these may not precisely be beginner-friendly. It is why you should continue reading to identify which category would work best for you in terms of making your first investment.

Best investments for beginners

Following are investment ideas that would be perfect for you if you cannot take huge leaps of faith.

1. Gold, silver:

The prices of gold and silver fluctuate according to the political scenario. The prices stay relatively the same if they do not get better.

Gold and silver are a good form of investment because the investor has the authority to choose how much they want to give in. It is beginner-friendly because one does not need to have billions to invest in gold or silver. You could start with a few hundred bucks and build a way for yourself from there.

Just keep an out for all the environmental changes and the political scenario to realize whether these metals would be a good choice for you. Try buying gold or silver when it is considerably lower in price and then wait for the prices to rise again. That is when you can resell them for a better price and enjoy the profit.

2. Cryptocurrency:

The idea of cryptocurrency is still relatively new to the market. It is a digital currency that you can buy and sell online.

When the cryptocurrency price rises, your investment multiplies, which means you would see a profitable increase. Despite being a risky environment, people welcome this currency with open arms because it is a relatively new idea.

3. Mutual funds:

A mutual fund is a form of investment that a wealth manager does on your behalf.

Mutual funds are very well-liked in the world of investments because of the low chance of risk involved. In such an investment, the wealth manager spreads your money out in several different avenues, who tries his best to get you the best returns.

Make sure that you carry out your research before you invest. Choose what you feel is best for you, calculate your risks, analyze your strengths, and take the leap. Happy investing!

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.

Cloud computing is accessing and storing the data on the internet, which is secure and guaranteed protection. A lot of people think that cloud computing is a hard drive. Well, that is not true. Many of the already running businesses use cloud storage to guard confidential data and information regarding their corporation. Like every technology and software, cloud computing comprises multiple pros and cons as well. But the benefits associated with the technology are much more prominent than its rips-offs. Apart from being cost-effective, cloud computing offers a various plethora of services to new and mature businesses. Before getting knowledgeable about the perks and benefits of cloud storage, you must be aware of cloud computing.

Categories of cloud computing

The trend of cloud computing is rapidly covering every business and enterprise. It is further categorized in following:

1. IaaS (Infrastructure-As-A-Service)

IaaS is also referred to as Infrastructure-As-A-Service. It is defined as the essential components of computing that you can rent, like storage, networking, servers, and virtual machines. IaaS route is beneficial in several ways. The online infrastructure encourages innovation and creativity, making usage more accessible. The IaaS is the best and suitable match for the industries eager to develop applications from scratch. The services enable rapid deployment, which automatically reduces the operational cost. This category of cloud computing requires strong technical skills for coordination. IaaS is beneficial because:

• On-demand innovative and rapid services are available
• No investments are required
• Infrastructure scales on-demand to support vibrant workloads

2. PaaS (Platform-As-A-Service)

PaaS is known as Platform-As-A-Service. It is an improved layer of cloud computing, advanced than IaaS. All the features of IaaS are already inbuilt in the PaaS. Apart from that, it contains some updated tools and software essential and critical in application development. These tools include middleware, database management, operating systems, and development ones. Let’s set an eye on the benefits of PaaS:

• Middleware (software) can reduce the intricacy
• Develop applications
• Helps to reach the market faster
• Deploy applications on the cloud within a few minutes

3. SaaS (Software-As-A-Services)

SaaS is called Software-As-A-Service. Delivery of different applications as a service is listed in the SaaS type of cloud computing. The use of SaaS is surprisingly increasing over time. There is no second thought to confuse that SaaS is the most dominant type of cloud storage. The focus and aim of SaaS are the application it delivers. This variety includes HRM (Human Resource Management), CRM (Customer Relationship Manager Etc). The add-ons of SaaS are:

Each mentioned type has its benefits to cater to. But as the technology is rapidly growing these days, the use of SaaS is at its peak. Cloud computing has a comprehensive list of aces that can cut down many firms’ maintenance costs and operational expenses. A Few benefits include:

• Caters the maximum needs of the users in a professional technical way
• The data is super secure even after a disastrous breakdown.
• Application and data are accessible from any connected computer
• Encourages rapid signup enabling usage of innovative applications

 Aces of cloud computing

Businesses stand firm if they have made some worthy and repaying investments. A prosperous business can run if you have the wit to play smart and safe. Cloud computing is a huge investment your company can ever witness. Cloud computing is constantly evolving its services to let business owners have a better experience helping them solve the significant issues of potential loss of confidential data. The major benefits of clouding system are:

• Cost-Effective – Saves a lot of your money
• Greater And Better Security – Data is transmitted over networks and stored in databases
• More Mobility – End users can access corporate data and confidential pieces of information via smartphones and other devices
• Constant Update – To improve the customer experience
• Improved Collaboration – People can exchange information is more accessible with cloud computing
• Business Continuity – Makes business much more straightforward.

Final words

Switching to cloud computing for data access and storage can be a change. It can save you much time and money. In case of sudden and uninvited downtime, you can sit back and relax as your data is safe and sound on the cloud.

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.