The Birth of a “Corpse”

Bezos graduated from Princeton with a degree in electrical engineering and computer science. He works in the technology sector but has a career in finance. At 30, he is vice president of an investment fund, DE Shaw & Co. When a young secretary and aspiring writer is hired, she falls in love with the loud laughter of the manager. It is MacKenzie Tuttle, future ex-Mrs. Bezos. Jeff has an idea running through his head: it is called e-commerce. He ditches DE Shaw & Co. to sell books online and invest $10,000 out of his pocket.

The ideas, however, are apparent from the start: the pages would have been just the beginning. The company is registered under the name “Cadabra.” When the first legal counsel reads it, he points out to Bezos that it sounds remarkably like a “cadaver” (corpse). It’s a little macabre for an e-commerce site. The founder is convinced. Evaluate Relentless.com (guess where this address is referring today) and then opt for Amazon, the American name for Amazon. The river also enters the first logo: an “A” crossed by a stream.

Bezos is the Man of the Year

Amazon was listed on May 15, 1997, less than three years after the foundation and two years after the site’s launch. It is worth $300 million and is “the largest bookstore in the world.” The managers of Barnes & Noble (always them) do not go down and take Amazon to court; the definition would be false because the site is not a shop but an intermediary. The matter was closed a few months later with an agreement. No money at stake: both allow the other to define themselves as the largest bookstore on the planet. Bezos has one more thing to look after: the company’s expansion.

Amazon began to plant its flag around the United States, multiplying the distribution centers. In 1998, it stopped being just books and sold CDs. In 1999, the first cocoon of what the company would have made excellent arrived: Amazon is a digital center for other retailers. Initially, it was a way to find and buy rare books. Then, accept the merchandising linked to some titles. It so Bezos, at 35, is Time’s Man of the Year, which defines him as “the king of e-commerce.” No CEO had won the cover among popes, activists, and presidents. But just as his big face goes to press, his company is under pressure. The dot com bubble bursts and stocks plummet from over $100 to less than $10 in just a few months. Ten years will pass before we review the levels of ’99. The climb has been continuous, except for the thud that united the technology sector at the end of 2018.  

Successes and Failures

As shares recover and e-commerce expands, Bezos is making a move that, more than any other, makes the group’s prospects brilliant today: it launches Amazon Web Services, the infrastructure on which the rest of the services, from cloud hosting.

Today, the company is a leader in this sector, ready to intercept a growing turnover flow. In the latest quarterly, Amazon grossed $59.7 billion. Most still come from e-commerce, but more than 12% is from AWS, with higher growth rates and margins (half of operating profits come from there). The hardware sector instead had alternate fortunes. They promoted the Kindle, the e-reader launched in 2007. It rejected the Fire Phone.

Not even Bezos has resisted the charm of smartphones without, however, breaking through. It was a complete failure—one of the few. A completely different sign is the debut of Echo, the line of digital butlers animated by the digital assistant Alexa. Bezos arrives before the others and imposes its importance in a market that is not just hardware. The research, purchases, and future data pass through the smart speakers. Entering homes means opening a door connecting users’ living rooms with Amazon’s services and marketplace.

The Discovery of the Brick

When Amazon imposed its domain, many thought physical stores would die—many but not Bezos. Since 2015, the CEO has added brick to digital, starting (once again) with pages and paper: the first bookstore opened in Seattle. The importance that Bezos dedicates to stores is confirmed by the fact that the company’s largest acquisition is made of shelves, not bits. In 2017, Amazon paid $13.7 billion to the Whole Foods supermarket chain.

Amazon 4-star (which sells items with positive online reviews) and Amazon Go (supermarkets without cashiers) have also arrived. A physical network, together with the increasingly widespread distribution centers, has a double purpose: on the one hand, it opens new revenue channels; on the other hand, it creates a system of “sentinels” that in the future could be used as outposts of e-commerce, for super-fast deliveries or to order online and collect at the checkout. Although the business involves increased sectors (and who knows how many more, starting with food delivery), Bezos does not lose sight of e-commerce.

The company’s heart needs constant stimulation: in the last quarter, sales grew “only” by 14% year on year. That is why they are already moving from Seattle, testing deliveries with drones and robots, reducing shipping times for Prime subscribers to one day, and starting construction of an airport that will allow them to manage the entire logistics chain.

The “Day One” Creed

Like successes, discussed working conditions are part of Amazon’s story. Bracelets have been talking about monitoring workers and imposing unsustainable rhythms on them. An unsafe environment in which the intervention of ambulances is undoubtedly familiar. In the United States (but not in Italy), there is also an algorithm based on which warehouse workers are evaluated and fired.

The company has always defended itself, denying the accusations but highlighting the economic effects an Amazon center has on employees and induced. Last November, he responded to pressure from the US parliament by raising the minimum hourly wage to $15. Cash registers certainly do not have the problem of having to count loose change. The group closed in 2018 with a turnover of $233 billion. In 2005 it was still below 10. It exceeded the one hundred billion quota in 2015. In recent years, profits have risen, historically kept low to have aggressive prices. Until three years ago, they had only exceeded the billion mark once (in 2010). In 2016, they reached 2.3 billion, and in 2017, 3 billion.

Bezos preferred (and partly still likes) expanding rather than making immediate gains. And it is precisely this that has produced a paradoxical effect: Bezos has become the wealthiest man on the planet. This is thanks to the Amazon shares that have pushed – for a brief period – the capitalization over one trillion dollars. Last year, they exploded: 10 billion. It is all consistent with Bezos’ philosophy, explained in a letter to shareholders from 1997:

“Experiment patiently, accept failures, plant seeds, protect saplings, and up the ante when the customer’s pleasure is seen.”

It is the “day one” creed: lead your company as if it were just born. It’s as if you were in that depressing office that became a meme. But with a more toned physique and $150 billion in his pocket.

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.

Working in a foreign country comes with many challenges, including the following:

• The cost of the immigration bureau: Since the employer needs to pay the immigration bureau a recruitment cost when applying for recruitment abroad, the laborers who go abroad also need to bear a fee at the immigration bureau;
• Foreign lawyer fees: Because foreign employers entrust lawyers to recruit lawyers in China, the entrustment of lawyers will incur specific fees, and lawyers also need a fee to apply for an invitation to the Immigration Bureau, so laborers who go abroad have to pay a foreign lawyer fee.

With excellent career and personal development prospects, the UK received more points this year for offering a good work/life balance and a good salary. Most ex-pats also said the UK’s work culture was better than theirs. In addition, the UK has a clear advantage in terms of educational attainment among the population surveyed. More than two-fifths (43%) of foreigners have postgraduate degrees. At the same time, respondents believe this is the first person in the world to learn a new skill.

• Material costs: Public expenses, insurance fees, airport pick-up fees, accommodation arrangements, extension arrangements, and coordination and settlement of special events by overseas agencies.

The above expenses are all necessary for working abroad. The domestic costs are relatively small, and general labor and most fees must be spent abroad.

•  Expenses required for labor services abroad

1. Physical examination fee: The physical examination can be carried out by yourself at the hospital or above a country’s level or by the operating company. According to the actual fees charged by the hospital, and leave a receipt;
2. Training fee: Depending on the length of the training time, it is generally 150 to 600 Yuan (including the teacher’s certificate and the foreign labor service qualification certificate), and you directly pay the training fee to the training center or operating company. The operating company organizes this training at a state-recognized foreign labor training center, and the movement is qualified—at least 48 hours of training sessions.

What is the Agency Fee for Working Abroad in the High-Tech Zone?

1. Passport fee: pay visa fee according to regulations;
2. Airport construction costs: paid according to national regulations;
3. Vaccination: according to the actual fee charged by the epidemic prevention department;
4. The notarization fee: the contract you and the dispatch company signed will be based on the receipt amount.

Performance Guarantee and Service Fees

1. It should also pay in the “expatriate labor contract” or other agreements signed by the operating company, following national regulations, performance bonds, and service fees. The performance guarantee is that you must go to work abroad According to the provisions of the “expatriate labor contract” and “employment contract.” The performance deposit is directly handed over to the operating company that sends people to work abroad, and the operating company will give you a receipt. When completing a labor contract and returning, the operating company shall refund the principal and interest of the performance bond (calculated by the interest of the demand deposit during the labor service abroad) in full with the submitted receipt. If the contract is not completed, there is no right to ask for a security deposit refund.Service charges are fees incurred by operators and their staff when providing administrative and management services abroad.
2. According to national regulations, the performance bond shall not exceed 20% of the total contract wages (excluding overtime pay) earned during your work abroad. The service fee shall not exceed 25% of the actual contract wages earned during the overseas work period if a domestic work unit’s labor contract relationship is maintained. Suppose there is no work unit or the labor contract relationship with the original team is terminated. In that case, the service fee shall not be higher than during the overseas work period. 12.5% ​​​​of all contract wages earned. How much to pay will be carefully calculated according to the contract. As a reminder, be sure to ask for a receipt when paying the fee and keep it for a refund in the future.

However, the specific amount is not specified. It is paid according to the percentage of the salary in the contract. The contract signed by both parties can make the particular payment. It can refund some of the labor costs for going abroad, and some of the cashiers themselves will not be repaid. Relevant documents should be kept and returned for reimbursement later. 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.

Let’s talk about innovation, which is intangible value creation. For example, the branding of businesses or concepts is reflected in ethereal value creation.

For example, the USA has taken the number one position in sustainable development through value creation, creating opportunities for innovation. International market innovations need a systematic and robust support structure called innovation.

Innovation means sustainable structures for the emergence of innovation in general. Support structures are needed for the generation of an idea, the transformation of an idea, product, or model, the testing and further development of a prototype or a new operating model, the establishment and financing of a company, and commercialization and marketing.

Innovations are not created without thinkers, inventors, and thinkers. Hundreds of ideas are needed to innovate. Ideas, in turn, can arise anywhere. The USA needs a lot of people who produce ideas, even if they don’t take them further in the process. What is required is an experienced person who finds something disturbing or missing.

Innovation in the State Sector is Needed More than Ever

You can see the importance of innovation in the social and health sector now more critical than ever before:

Our population is aging and retiring, birth rates are falling, and immigration is increasing. New solutions, applications, and operating models are needed to deliver sustainable well-being. The need for unique and individualized treatments is emphasized. Particular attention should be paid to needs-based development, where users of services are producers of ideas and involved in, for example, product development processes as testers.

Innovations and co-development would be needed to integrate the social and health sectors and develop care pathways and functions for clients and patients. Interdisciplinary and multidisciplinary co-development is considered. There is a need for joint analyses of where artificial intelligence and different applications can be made more efficient. There is also a need for any new solutions that will allow us to develop SOTE services so that care is still equal and of high quality, even if workers are leaving wildly due to retirement.

There is also a need for innovation and co-development in teaching citizens to use digital applications and, for example, to manage their health information. I will also continue to focus on the weaker ones because, during digitalization, there is a risk that they will fall even more out of the scope of services and support.

Innovation Culture, Co-development, and Division of the Unfinished play a Key Role

Innovation in the social and health sectors has increased commendably in recent years. However, the emergence of innovations could still be encouraged.

I would develop a culture of innovation in the social sector because the best ideas come from working with people. A culture that enables ideas to emerge and be actively addressed creates a group of thinkers in organizations who dare to do things in a new way.

• In addition, I would raise co-development to a high level of innovation in the social sector. We have nationwide challenges that some organizations should not develop alone. Forming development ecosystems between social organizations and involving universities, decision-makers, and companies is good. I firmly believe that the best innovations come together.

It also emphasizes the importance of the unfinished division:

• Opening up incompleteness to outsiders is essential because others can help with development from a different perspective and because opening up the incompleteness and the whole innovation process is often more instructive for other start-up innovation organizations than announcing the finished result.

Towards the Future of Innovation

• Sustainable development is an excellent opportunity for the USA to stand out and should include related innovations in the social services sector. Artificial intelligence and digitalization will only be emphasized. It should pay particular attention to larger and smaller innovation ecosystems. Enabling and managing an innovation culture and diversity in development are becoming increasingly important.
• I would like to see many new outlets from social and healthcare professionals, social innovations to ensure sustainable well-being in the future, and a lot of intangible value creation in the international market.

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.

Workers are paying a heavy price for a crisis beyond their control. This crisis will have far-reaching consequences beyond the loss of employment and revenue, causing an increase in everyday work and the working class.

Young workers, migrants, and women are the most vulnerable groups in the current recession and face considerable difficulties integrating into the current labor market. The global crisis may intensify this trend. If no effective remedies are discovered, it will continue, and millions of young people will see their personal development and future job prospects threatened.

Early life experiences and a lack of good work can often jeopardize a young person’s job chances. In developing nations, the relative drawback of young workers is even more apparent. Most countries failed to provide enough decent and valuable employment for the young, even in the lead-up to economic expansion. Today, the crises in the world cause negative consequences that will last a long time. Young people face numerous obstacles: dropping out of high school, declining life quality due to lack of money, workplace accidents with low wages, rising inequalities, and reducing labor-pressurized participation rate are just some of the issues that young people must endure.

So, without a devoted, cultured, and engaged youth, a new, workable, and fairer globalization that emphasizes people, employment, and lifestyles will be impossible to achieve. Given that they represent the upcoming labor movement and society, how can we put young people and their future learning and work at the forefront of fixing the issue? These were some topics the ITUC Youth Committee discussed at its annual conference in Praia Grande, Brazil, in June 2009.

Restrictions by Young People

Even before they finish their education, young people’s expectations and aspirations are bleak, with the likelihood of a deep recession, enormous joblessness, and negative economic growth. The lack of financial market regulation, which began in the United States and quickly expanded to industrialized, growing, and developing countries, is one of the roots of the crisis. Even before the situation, the underlying problems affecting young people were the increasing precariousness of working circumstances due to the erosion of union rights, the weakness of collective bargaining, the lack of minimum salaries, and increased labor marketplace flexibility and deregulation.

Racism, unemployment, a lack of primary and quality educational centers, social marginalization, a lack of decent jobs, the prevalence of temporary labor and fixed-term agreements, and, depending on where you are in the globe, a lack of respectable employment are all issues that young workers face. Most young people may be driven into casual and informal work, where labor laws do not protect them or have access to social safety nets, regardless of where they live.

Fight the Crisis

The full extent of the crisis’s influence on society is unknown. The crisis’s social and political ramifications will be severe because international institutional investors do not expect the economic expansion to restart until at least 2010. It will be a source of worry for many young people planning their futures. Young people’s prospects are poor. They must adapt to enter the labor market when jobs are lost, earnings are decreasing, salaries are under intense pressure, and social safety systems fail to protect those who need it most.

Some countries have devised recovery plans, stimulus packages, and long-term initiatives to offset the adverse effects of the global financial crisis. Are they sufficient to address rising unemployment and the annual addition of about 45 million new job seekers to the global labor market? For crisis response measures to be effective, they must include innovative ideas and a continuous and more consistent emphasis on social safety net programs, decent work, and long-term growth. We need a recovery that leads to more jobs and lowers poverty levels.

The sense of despair among young workers is palpable. They are never to blame for the economic crisis, but if they want to find work, they must accept working fewer hours for lower wages or worsening conditions for workers. Without immediate action, you will not realize the benefits of investing in young folks. When young people’s unemployment rates are nearly double those of adults, something in the labor market isn’t working correctly. The following are some examples of ways to integrate youngsters into job markets better, share knowledge, and express worries about the global financial and economic crisis:

• Establishing provisional programs for youth aimed at an important and highly vulnerable group and to avoid further deterioration of their means of subsistence.
• There is a growing necessity for trade unionists and young employees to consult and discourse to prevent younger people from feeling separated from work.

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.

1. Do not go bankrupt

No matter how fed up with your boss, resist until you have a solid freelancing plan. Find out what you need, prepare the ground, and lay the foundations for your freelance project to work in the short and medium term.

2. An office job is a freelancing school

A face-to-face job is stressful and exhausting but allows you to gain experience, hone your strengths, and make contacts who know your skills. And the best thing is that this “training” takes place in a controlled environment where not everything that happens is entirely your fault.

3. Accept freelance jobs if you have a job

These first projects will allow you to measure your production times, calculate your costs, and evaluate your skills without the pressure that your income depends entirely on it. In addition, you will make your work known as independent and have something entirely yours to include in your portfolio.

4. But do not freelance at work

Or at least hide. Some companies do not like you using their equipment or your time to do something that is not about them. What is more, yes, do it; use the hours that force you to be there in whatever you want.

5. Prepare financially

Make a small file that is exclusively to start as a freelance because, at first, it is hard, and it will surely take you no less than a year to return to the salary that the office had you used to.

6. A tip from the first world

Ryan Robinson, a famous freelance writer who creates content for freelancers, recommends keeping your job until your freelance income is at least 75% of your regular salary.

7. Separate your freelance Lanita

Ryan (Gosling, obviously) also recommends saving 100% of the profits from your freelance projects. And preferably in a bank account other than where the fortnight falls. This way, you will have a clear record of your monthly income as a freelancer and make little savings when you get fully involved in your project.

8. But do not let money limit you either

Save, but do not set a distant goal to leave your job, or you will risk never daring to do it.

9. Study!

The main door to success as a freelancer is to be super good at what you do. If you like something that works for you, this is your chance to become an expert. Read, take courses, research the profiles of people recognized in that area, and learn something from them.

10. Make your little things

Get yourself a nice desk, an ergonomic chair (so your sciatica does not hurt), and everything you need to be materially comfortable in your new office.

11. Have tools to keep up with you

Soon, you will be your boss, community manager, accounts manager, José Luis from systems, and Don Victor from maintenance. So have a computer and a cell phone you can trust.

12. And use digital tools in your favor

 When you are a freelancer, you become your own boss and the person in charge of all areas. To that, add the task of maintaining the relationship with your clients: a CRM is a tool that can help you manage these relationships; it is usually a tool used by the sales and marketing department, but as a freelance, you can get many more advantages.

How and Where to Get Clients

 Having a presence in the social networks most related to your area is another place where you have to appear in Google. The only method to get there is with a website or blog where you can highlight your work, the projects you have worked on, what you know how to do, and your view of the world.

Another option that will give you the professional bonus you want to show your clients is to create landing pages to offer your services and, even from there, generate leads you will fall in love with to finish converting them into your clients. We already told you about Send Pulse, a platform that concentrates your mailing service, CRM, and landing pages at no cost.

How to Define Costs?

Charge more than you think you should

This advice brought from the first world establishes that you do not set your prices only considering the offer (that is, how much others charge) but also add to your prices the value of your talent and your experience.

But we already saw that Ryan is a man who looks like Ryan Gosling. He can charge whatever he wants.

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.

Investing Money: In What?

It’s wise to have money on hand. First, you think about how much you want to invest and plan. Do you have a lot of money? Then spread your investment over different options to spread risk.

1. Investing money in companies (stocks)

The most famous form of investing is investing in stocks on the stock market because the number of people who have invested money has increased by more than a quarter (1). When you invest and want to be in control, then start investing in shares through an online broker.

2. Investing in real estate funds

Are you thinking of real estate investment? Then look at the possibility of real estate funds. A real estate fund is like an investment fund that you invest such as homes, offices, or shopping centers.

3. Investing money in an initial public offering (IPO) 

Have you always wondered how to participate in a company’s initial public offering (IPO) at its original price? This is now possible via the Freedom 24 platform. Invest in the first IPO of US and European companies. Buy shares at the original price before the start of the auction. Earn by selling them once they are listed on the exchange and the lock-up period ends. The cost can skyrocket by tens and even hundreds of percentages.

You get free business indicator analysis of promising IPOs. Popular upcoming corporate IPOs include Elon Musk’s Star Link Satellite Communication System—social media platform Reedit, and popular platform TikTok. The minimum investment amount to participate in an IPO is $2,000. Enjoy an average return of up to 64% in 93 days*. Register through this link and create an account immediately.

4. investing in crypto (Bitcoin)

Because  ofsomething more exciting with your money? Investing in Bitcoin can be beneficial, especially when you trade actively. That’s why you can take full advantage of the latest price fluctuations. Some people now call Bitcoin digital gold.

Because, in the long run, the currency could replace traditional currencies such as the euro and dollar as means of payment. Note that the Bitcoin price fluctuates a lot. Some big banks believe that a Bitcoin could be worth $100,000 or even $1,000,000 in the future.

5. Investing in loans (P2P)

Do you want to invest money at a high return and relatively low risk? Private individuals are also increasingly looking at alternatives to the usually “expensive” bank for a personal loan. The alternative is an online platform that connects investors and consumers with a loan.

6. Investing in startups

Do you want to help starting entrepreneurs make their dreams come true? And simultaneously achieve a good return by investing wisely in startups? Crowdfunding offers entrepreneurs business loans. This is very popular nowadays. Because during the crisis, banks were less likely to lend money to companies. Via Oneplanetcrowd, you invest in sustainable business loans with a positive impact on people and the environment. Choose a project with which you have an affinity and start investing. You can start at $150. You can achieve an average return of 6%.

7. Investing money in gold

Investing money in gold and precious metals can quickly be done. In times of uncertainty, investors resort to fixed-value products. Gold is one of them. If you want to speculate on the gold price in the short term, you can do this using CFDs on commodities. An example is buying shares or mining companies.

See also crypto exchange Bit panda. Here you can trade in precious metals such as gold and silver 24/7. You can also trade in cryptocurrencies. Registering is very easy. It only takes 2 minutes. Invest automatically and take advantage by spreading your risk.

8. Investing in your pension 

It is wise to have your Pension adequately arranged. You can supplement your Pension by investing. You can opt for pension investing with Brand New Day. This way, you build up extra Tension. And you can take profit from tax benefits.

Would you instead save than invest for your retirement? Then the option for flexible pension savings with Brand New Day. With a savings account, you benefit from tax benefits and a high variable interest rate of 0.30%. If you start saving sooner for your retirement, the higher the return. And the sooner you could stop working.

9. Investing money in a savings insurance policy

Do you want to set aside a fixed high interest rate and money for a longer term? Then open a savings insurance policy. Maybe you want to help the kids buy their first home or save up for a dream trip.

10. Invest in paying off your mortgage

Do you have a mortgage and quite a bit of savings? A significant advantage of paying off your mortgage is saving you your monthly payments and interest. Perhaps this is the most innovative investment. Provided you have a mortgage, of course. There is no risk related to this investment. In short, the freed-up money can be invested directly in one of our investment tips—a win-win effect.

11. Investing money in a vacation rental

Do you have a little more money to spend? Then consider investing your money in a holiday home. This can be an excellent investment, especially at this time with the Coronavirus. More and more people are booking local holidays so that you can benefit from this increasing domestic tourism. Moreover, you can also enjoy it when the holiday home is free. According to the NVM, which annually charts the progress of the holiday home market, sales have been increasing for years. Be aware of the possible risks. 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.

A Novated lease is a three-way agreement. It works by asking your employer if they agree to make lease repayments on a car using their pre-tax salary. If they agree, you can take out the lease with a finance company (which may be chosen by your employer). From there, your employer will be responsible for making the lease repayments directly to the finance company on your behalf.

Types of Car Salary Sacrificing or Novated Leases

Typically, two types of Novated leases are available – fully maintained and non-maintained. It is up to your employer which kind of lease, if any, they are willing to agree to.

1. Fully maintained novated lease

If an employer offers this type of lease, the vehicle’s purchase price and running costs will be calculated into the repayments the employer takes out of your pre-tax salary.

For example, a finance company may provide you with a fuel card to use at particular petrol stations or get you to send them the bills for your registration or car servicing. When it comes to car insurance, depending on the finance company, they may arrange insurance through a provider or allow you to use the insurance of your choice.

2. Non-maintained a novated lease

In this type of lease, only the purchase price of the vehicle plus administration fees and interest are calculated into the lease repayments taken from your pre-tax income. It means you will be responsible for paying the vehicle’s running costs from your post-tax salary.

Pros and Cons of a Novated Lease

There are some pros and cons of a Novated Lease. While you may get tax benefits, be able to simplify your car payments, and can consider upgrading your car, you do not own the vehicle with a Novated Lease.

Pros

1. Possible tax benefits

According to the ATO, Novated lease repayments made through your pre-tax salary reduce taxable income. You can avoid paying GST on the vehicle’s purchase price when not buying it.

2. Consolidated payments

With a fully maintained Novated lease, your car expenses are simplified into a single regular deduction from your pre-tax salary, managed by your employer and the finance company. This means you do not have to produce a large upfront payment for the vehicle or juggle multiple car bills at various times throughout the year, which could make it easier to budget.

3. Opportunity to upgrade

You typically will have the option to trade in your vehicle at the end of the lease for a newer or different model without going to sell your old car.

Cons

1. You do not own the car

Under a Novated lease, you do not technically own the vehicle. This means you cannot make any alterations to it and cannot claim the car as your asset for other borrowing or financial purposes.

2. Residual value due at the end of the lease

The repayments for a Novated lease do not cover the whole car amount over the lease term. So, you need to pay the residual value owed at the end of the lease unless you either (1) renew the lease or (2) sell the car with the costs covered at the end of the lease term. Depending on both your lease term and the car’s original cost, the payable residual value could be significant.

3. You might be liable for the car if you lose or change your job

If you lose your job, you may be able to take your Novated lease with you to your new employer. However, if your new employer does not agree to this benefit or you do not move to a new job, you are the one who is liable for paying for the car. This means you must continue making repayments to the finance company or terminate the lease agreement altogether. You need to pay any early exit fees that may be charged, plus the vehicle’s residual value.

4. Administration fees and higher interest rates

Novated leases often come with administration fees that are calculated into your repayments. According to Cars Guide, your interest rate on a Novated lease may also be higher than those offered through a standard car loan.

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.

The traditional method of accounting dates to 1495 and was designed by an Italian monk. It is still the basis of most accounting programs but no longer suits today’s entrepreneurs. Below are the reasons why you should no longer work with the traditional accounting method.

1. Accounting is about your business

You want to know where you stand. Because this is the way you can make the right choice and know you have enough money in the account to pay taxes. Traditional accounting is not typically for entrepreneurs but accountants and unclear reporting.

2. The tax authorities don’t ask that much at all

You pay your taxes neatly, and the tax authorities want to know what you base your calculation on. The Tax and Customs Administration does not ask much. Simplified accounting is sufficient for companies with a turnover of up to $12 million annually (i.e., 85% of all companies). For this, you only need to register how much something costs and what part of that was the VAT. Add a copy of the invoice, and you’re finished. The Tax and Customs Administration does not ask for more. Yet, with the traditional accounting system, the accounting records of the smallest company are kept as if they were a multinational corporation. That is an unnecessary waste of time and money and certainly does not make it more transparent.

3. You don’t want to look in the ass of a cow

Entrepreneurship is about the here and now, not last month and not last year. Yet traditional accounting systems are entirely focused on the past. Financial statements are made months after the year-end close. Sometimes even longer than a year after the year-end closing. It makes them completely worthless.

4. The Tax and Customs Administration has only 12 cost items

Few entrepreneurs know that the tax authorities only work with 12 cost items for the tax return, while the traditional accounting system works with a standard of more than 800 cost items. What happens to all other cost items? These will be merged into the 12 tax authorities. So splitting is only reasonable if it gives your insight; otherwise, it’s wasted effort, time, and money.

5. The Chamber of Commerce has standard annual accounts

Traditional accountants quickly turn the yearly reports into a book with more than 20 pages. That looks very important but has no value at all, provided you enjoy reading it repeatedly. The Chamber of Commerce has a standard of the figures you must deposit. No more and no less. So, anything you do beyond the norm wastes time and money.

6. Do it once; do it right

It is an old slogan but has not yet penetrated the traditional accounting system. In the conventional accounting system, entries are continuously added throughout the year. All corrections happen at the end of the year, such as processing depreciation, private use, and converting the profit to reserves. It’s all a duplication of an outdated method. Another disadvantage is that accounting is always behind the times and does not accurately represent your company during the year.

7. Computers are there to automate

The traditional accounting method is challenging to automate, mainly because conventional accountants don’t want to because they want to protect their jobs and status. But computers are not stupid and have long been able to work around all the drawbacks of traditional bookkeeping. Smarter, faster, better, and more reliable than an accountant can do. So that your accounting meets all legal requirements, and you understand what it is about and with a minimum of work you must do.

So, nowadays, accounting can and should be done differently. With the new accounting method, ‘Entrepreneur Oriented Accounting,’ you as an entrepreneur are once again central. With this, you meet the requirements of the Tax Authorities, you understand your accounting yourself, you enter everything correctly and definitively in one go, and the reports provide you with real-time information. All reports, even the annual report, come from the accounting system at the touch of a button. Jortt invented Entrepreneur Focused Accounting, which is suitable for all companies, from freelancers to general partnerships, BV, and partnerships with a turnover of up to $12 million annually.

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.

For opening a hairdressing salon, the possession of a diploma is necessary. Then, to make the project a reality, you must draw up a business plan, find a place and fit it out, choose a legal status, carry out the creation formalities, and comply with the regulations applicable to hairdressing salons.

We inform you in this file of the main steps to follow to own a hairdressing salon:

Qualifications Needed to Open a Hair Salon

It is required that a man/woman present in the salon, whom the company may employ must hold one of the necessary diplomas and exercise effective and permanent control of the activity.

In practice, it is easier if the creator of the hair salon himself holds the appropriate diploma.

The Diploma Required to Open a Hair Salon

Opening a hairdressing salon requires holding:

• The professional hairdressing certificate,
• The master’s certificate in hairdressing,
• Or a diploma listed in the national directory of professional certification in the same field as the professional hairdressing patent and of an equal or higher level.

As we pointed out above, it is not necessarily the entrepreneur who must hold the diploma. Hiring more than one employee with the credentials required to open a hairdressing salon can meet this accountability.

Regulations Applicable to Hair Salons

Opening a hairdressing salon requires compliance with complex regulations. It will be necessary to be adequately informed and implement the applicable laws.

For your hairdressing services, you are free to charge the prices you want. Prices, including VAT, must be displayed, clearly visible, and understandable inside and outside the show. Invoices given to customers must include the fees excluding tax and tax for the services.

Then, the hairdressing salon being an establishment open to the public (ERP), it is necessary to comply with all the standards in force, particularly regarding safety and the fight against fire. In addition, the lounge must be maintained and laid out to ensure the safety and health of employees. On this subject, we advise you to follow this link: rules ERP Service-Public.fr.

In addition, all applicable hygiene and environmental rules must also be complied with. We advise contacting the Trades Chamber of Trades and Crafts for more information.

The Financial Forecast for Opening a Hair Salon

It is necessary to make a forecast to financially study your project to open up the hairdressing salon, mainly to ensure its profitability and reliability.

To achieve your projected accounts, you must estimate and budget the turnover you plan to achieve the investments necessary to open your hairdressing salon.

We recommend you consult the many publications in our financial forecasts file.

When the project of opening a hairdressing salon is carried out by joining a brand, it is possible to gain financial information from the network to help you build your economic forecast.

Choosing the Location to Open a Hair Salon

To open a hairdressing salon, suitable and well-placed commercial premises are necessary. Traffic places, such as city centers and commercial areas, are preferred. The location is decisive for the opening of the show.

Generally, the commercial premises that will serve as a place of activity are subject to a nine-year commercial lease. It is, therefore, necessary to take all the essential precautions before validating the choice of commercial premises.

Which Legal Status Should You Choose to Open a Hair Salon?

The auto-entrepreneur status and the micro-enterprise are not perfect solutions for opening up the hairdressing salon project because deducting the charges from the taxable profit will be impossible. This point is problematic given the considerable expenses expected to operate a hairdressing salon.

You can carry out the work of the hairdressing salon in your name or by opting for the EIRL, which makes it possible to secure your assets and to have the possibility of opting for taxation of profits at the ‘Corporation tax.

What Tax Applies to Hair Salons?

The taxation of profits

The profits made with a hairdressing salon constitute industrial and commercial profits (BIC), taxable, depending on the legal status retained. The tax options are chosen directly in the name of the entrepreneur to the IRPP or the company name to the corporation tax.

VAT and other business taxes

In terms of VAT, the activities of a hairdressing salon are subject to the standard VAT rate. Products sold in hairdressing salons are subject to their VAT rates. When products are used during hairdressing services, they may be included in the amount of the service and taxable at the rate.

When creating the company, it is necessary to choose a VAT regime, and several choices are possible (VAT exemption, simplified real, everyday real). You must enter the preferred choice directly on the business creation form.

The Formalities of Creation to Open a Hair Salon

The business creator who opens a hairdressing salon has craftsman quality; he must register in the directory of trades. When the hairdressing salon operates as a commercial company, the company must also register in the trade and companies register.

The creation formalities will be carried out depending on the selected legal status. Depending on your choice, we invite you to consult one of the following files:

• The creation of a sole proprietorship
• The creation of an EIRL
• The creation of a EURL or the creation of a SARL
• The creation of a SASU or the creation of a SAS

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.

Opening a Recreational Dispensary: Complete Business Guide

Opening a recreational dispensary requires securing state and local licenses, raising $150,000 to $2 million in startup capital, implementing comprehensive compliance systems, and establishing specialized operational infrastructure including seed-to-sale tracking, security protocols, and cash management systems unique to cannabis retail.

I’ve spent over two decades as CEO of Complete Controller working with cannabis businesses navigating the financial complexities of this rapidly evolving industry. Colorado’s cannabis business failure rate reached 40% between 2010-2013, with dispensary numbers dropping from 1,131 to 675 – yet industry experts note this compares favorably to traditional businesses, where 30% fail within two years in established markets. This guide reveals the critical steps that separate successful dispensary launches from costly failures, covering everything from startup launch essential steps to advanced compliance strategies that protect your investment and license.

What does opening a recreational dispensary involve?

• Securing licenses, raising capital, implementing compliance systems, and establishing operational infrastructure
• State licenses require detailed applications, background checks, and fees ranging from $1,000 to $60,000 depending on jurisdiction
• Local municipal approval involves zoning compliance, community support, and often restrictive distance requirements from schools and residential areas
• Startup capital needs typically range from $150,000 for small operations to over $2 million for premium locations and larger facilities
• Operational systems include state-mandated seed-to-sale tracking, comprehensive security installations, specialized point-of-sale systems, and cash management protocols

Understanding Cannabis Licensing Requirements

The cannabis licensing landscape represents the single most critical factor determining your dispensary’s success or failure. Each state maintains unique regulatory frameworks with varying application processes, scoring criteria, and operational requirements that directly impact your business strategy and financial projections.

State licensing applications involve extensive documentation including detailed business plans, security protocols, financial statements, and operational procedures. New Jersey’s Cannabis Regulatory Commission charges an endorsement fee of $1,000 plus annual licensing fees ranging from $1,000 for microbusinesses to $5,000 for standard operations. The state prioritizes Social Equity Businesses and Diversely-Owned Businesses through its rolling application process.

Municipal approval often presents greater challenges than state licensing. Local governments maintain authority to prohibit dispensaries entirely or impose restrictive zoning requirements. The Village of Deerfield, Illinois allows only one recreational dispensary as a Special Use in specific zoning districts with mandatory 1,000-foot buffers from schools and 500-foot buffers from residential properties.

California’s legal cannabis market has reached a grim milestone where dead licenses (10,828 inactive/surrendered) now outnumber active ones (8,514), representing what industry leaders call a ‘complete failure’ of the regulatory framework. This harsh reality underscores the importance of thorough market analysis and conservative financial planning before committing resources to any specific location.

Financial Planning and Capital Requirements

Cannabis retail demands substantially higher startup capital than traditional retail businesses due to specialized requirements and regulatory compliance costs. Understanding these financial realities prevents undercapitalization that leads to operational struggles and potential business failure.

Initial investment breakdown

Recreational dispensary startup costs typically range from $187,000 to over $1.2 million, with most operators requiring approximately $700,000 for an average 1,800 square foot facility. These figures reflect the unique challenges of cannabis retail:

• License application fees: $1,000 to $60,000 depending on state
• Annual renewal fees: $500 to $15,000
• Facility lease deposits: $30,000 to $100,000
• Renovation expenses: $20,000 to $50,000
• Security systems: $10,000 to $20,000
• Initial inventory: $50,000 to $150,000
• Operating capital: $100,000 to $250,000

MedMen, once called the ‘Apple Store of weed’ and valued at $1.7 billion, filed near-bankruptcy papers in 2023 with only $15.6 million in cash against $137.4 million in debt. The company’s collapse illustrates how even well-funded cannabis operations can fail due to excessive debt, falling marijuana prices, and competition from illegal sellers.

Banking and cash management challenges

Cannabis businesses face unique banking obstacles due to federal prohibition, forcing many dispensaries to operate as cash-intensive businesses. Traditional banking services remain limited, creating operational complexities affecting payroll processing, tax payments, and vendor relationships.

Successful dispensaries develop robust cash management protocols including:

• Multiple daily cash counts and reconciliations
• Secure cash storage systems with limited access
• Armored car services for bank deposits
• Digital payment alternatives where permitted
• Detailed transaction tracking for compliance reporting

Compliance and Regulatory Navigation

Cannabis retail operates under the most stringent regulatory frameworks of any retail industry. Compliance violations can result in substantial fines, license suspension, or permanent revocation, making comprehensive compliance programs essential from day one.

Seed-to-sale tracking implementation

State-mandated tracking systems monitor every gram of cannabis from cultivation through final sale. These systems integrate with dispensary point-of-sale platforms to provide real-time inventory updates, automated compliance reporting, and complete audit trails regulators can access anytime.

Popular cannabis POS systems like KORONA POS and Flowhub connect directly to state databases, automatically recording:

• Product receipt and intake procedures
• Inventory adjustments and waste disposal
• Customer sales transactions
• Lab testing results and compliance certificates
• Transfer manifests between licensed facilities

Security requirements and protocols

Cannabis dispensaries must implement comprehensive security systems exceeding typical retail standards. Most jurisdictions mandate:

• 24/7 video surveillance with 30-90 day retention
• Limited access areas with biometric controls
• Alarm systems connected to law enforcement
• Panic buttons at point-of-sale stations
• Secure product storage and display cases

These requirements typically cost $10,000 to $20,000 for initial installation plus ongoing monitoring fees.

Market Analysis and Business Planning

Developing a cannabis-specific business plan requires understanding unique market dynamics, regulatory constraints, and operational requirements that differ significantly from traditional retail planning.

Legal cannabis states have generated over $24.7 billion in combined tax revenue since Colorado and Washington launched sales in 2014, with 2024 alone bringing in $4.4 billion – the highest single-year total yet recorded. This revenue potential attracts significant competition, making thorough market analysis essential.

Competitive landscape assessment

Cannabis market analysis must evaluate:

• Current licensed operators in your target area
• Pending license applications and future allocations
• Population demographics and consumption patterns
• Tourism impact on seasonal demand
• Medical versus recreational market splits
• Black market competition and pricing pressure

Revenue modeling and projections

Cannabis dispensary financial projections require specialized metrics:

• Average transaction value: $45-85
• Daily customer count: 150-500
• Product mix: flower (40-50%), edibles (20-30%), concentrates (15-25%)
• Gross margins: 35-55% depending on market maturity
• Operating expenses: 25-40% of gross revenue

Operational Infrastructure Development

Transforming a licensed location into a functioning dispensary requires coordinating complex systems while maintaining compliance throughout the build-out process.

Facility design considerations

Dispensary layout must balance:

• Security requirements and camera coverage
• Customer flow and experience optimization
• Inventory storage and display requirements
• Compliance with accessibility regulations
• Brand expression within regulatory constraints

Modern dispensaries utilize various layout approaches:

• Pharmacy style: Tight inventory control behind counters
• Banking style: Multiple budtender stations for high volume
• Boutique style: Open floor plans with educational focus
• Hybrid models: Combining elements based on target demographics

Technology system selection

Cannabis-specific technology requirements include:

• State-compliant POS systems with tracking integration
• Inventory management with batch tracking capabilities
• Customer relationship management with marketing compliance
• Security system integration and monitoring
• Small business bookkeeping software designed for cannabis operations

Staffing and Training Requirements

Building a compliant dispensary team requires understanding cannabis-specific employment regulations and developing comprehensive training programs that protect both customers and business licenses.

Hiring and background checks

Cannabis dispensary staffing requirements include:

• Minimum age of 21 for all positions
• State-mandated background checks
• Residency requirements in some jurisdictions
• Prohibition on felony convictions (varies by state)
• Mandatory registration with state cannabis authorities

Training program development

Effective dispensary training covers:

• Product knowledge including cannabinoids and terpenes
• Dosage guidance and consumption methods
• Compliance protocols and age verification
• Customer service excellence
• Emergency procedures and security protocols

Marketing Within Regulatory Constraints

Cannabis marketing faces severe restrictions requiring creative approaches to customer acquisition and retention while maintaining strict compliance.

Ohio’s advertising violations have resulted in fines exceeding $200,000 for infractions, including improper terminology usage and unauthorized outdoor promotional activities. The state requires pre-approval for most advertisements and prohibits common terms like “recreational cannabis” in favor of “adult-use cannabis.”

Permitted marketing strategies

Compliant cannabis marketing focuses on:

• Educational content and workshops
• Community engagement and sponsorships
• Digital marketing with age-gating requirements
• Loyalty programs within state guidelines
• In-store experience optimization

Final Thoughts

Opening a recreational dispensary successfully demands extraordinary preparation, substantial capital, and unwavering commitment to compliance excellence. The current cannabis prohibition mirrors alcohol prohibition from 1920-1933, which was widely considered a failure – both prohibitions proved costly to enforce, failed to significantly deter consumption, and encouraged criminal behavior. Today’s legal cannabis market represents a historic opportunity for prepared entrepreneurs.

The path from concept to successful dispensary operation requires navigating complex regulatory frameworks, securing adequate funding, and building operational systems that satisfy both compliance requirements and customer expectations. As someone who has supported cannabis businesses through Complete Controller for over two decades, I’ve witnessed how proper financial planning and compliance systems separate thriving dispensaries from the 40% that fail within their first years.

Success in cannabis retail comes down to three critical factors: comprehensive planning before investing capital, robust compliance systems that protect your license, and operational excellence that creates sustainable competitive advantages. The margin for error remains extremely small, but the opportunities for those who execute properly continue expanding as more states embrace legalization. For expert guidance on marijuana business procedures and specialized cannabis accounting support, visit Complete Controller to discover how our team helps dispensary owners navigate financial complexities and achieve lasting success.

Frequently Asked Questions About Opening a Recreational Dispensary

What are the minimum financial requirements to open a dispensary?

Most dispensaries require $150,000 to $2 million in startup capital, with the average operation needing approximately $700,000. This covers licensing fees ($1,000-$60,000), facility costs ($50,000-$150,000), security systems ($10,000-$20,000), initial inventory ($50,000-$150,000), and operating capital for the first 3-6 months.

How long does the dispensary licensing process typically take?

The licensing timeline varies significantly by state, typically ranging from 6 to 18 months. This includes application preparation (1-3 months), state review (3-9 months), local approvals (2-6 months), and build-out/final inspections (2-4 months). Some states with competitive processes may take longer due to scoring and appeals.

Can I open a dispensary with a criminal record?

Most states prohibit individuals with felony convictions from owning or working in cannabis businesses, though specific restrictions vary. Some states allow certain non-violent felonies after a waiting period, while others have social equity programs that actually prioritize individuals with cannabis-related convictions. Check your state’s specific regulations.

What makes cannabis businesses fail most often?

The primary causes of cannabis business failure include undercapitalization (running out of money before profitability), compliance violations resulting in fines or license loss, excessive debt burdens, inability to compete with illegal market pricing, and poor location selection due to zoning restrictions or oversaturation.

Do dispensaries need special insurance coverage?

Yes, cannabis dispensaries require specialized insurance including general liability, product liability, property coverage, and crop coverage for inventory. Standard business insurance often excludes cannabis operations, so you’ll need carriers specializing in cannabis coverage. Expect annual premiums of $30,000 to $100,000 depending on size and location.

Sources

• California Cannabis Portal. “Cannabis Licensing Activity Report.” (2025). https://www.sfgate.com/cannabis/article/complete-failure-calif-pot-industry-dead-licenses-20165785.php
• Colorado Department of Revenue. “Marijuana Enforcement Division Annual Report.” (2013). https://www.westword.com/news/marijuana-business-failure-rate-of-40-percent-not-bad-says-industry-expert-5830875
• Complete Controller. “Marijuana Business Procedures.” www.completecontroller.com/marijuana-business-procedures/
• Complete Controller. “Small Business Bookkeeping Tips.” www.completecontroller.com/small-business-bookkeeping-9-tips-and-tricks/
• Complete Controller. “Startup Launch Essential Steps.” www.completecontroller.com/startup-launch-essential-steps/
• Fortune. “Cannabis Chain Once Worth $1.7 Billion and Called the ‘Apple Store of Weed’ Is Now Nearly Failing.” Kopytoff, V. (February 6, 2023). https://fortune.com/2023/02/06/medmen-cannabis-store-debt-going-concern-public-listing/
• Internal Revenue Service. “Section 280E Guidance.” www.irs.gov
• Marijuana Policy Project. “States Collected Nearly $25 Billion from Legal Adult-Use Cannabis Sales.” (2025). https://www.mpp.org/news/press/states-collected-nearly-25-billion-from-legal-adult-use-cannabis-sales/
• SF Gate. “‘Complete Failure’: California Pot Industry Hits Another Grim Milestone.” (2025). https://www.sfgate.com/cannabis/article/complete-failure-calif-pot-industry-dead-licenses-20165785.php
• State of Colorado. “Marijuana Enforcement Division.” www.colorado.gov/pacific/enforcement-marijuana
• University of Northern Iowa. “Alcohol and Marijuana: Substitutes or Complements and a Deeper Analysis.” Honors Program Theses. (2013). https://scholarworks.uni.edu/cgi/viewcontent.cgi?article=1403&context=hpt
• Wikipedia. “Cannabis in the United States.” https://en.wikipedia.org/wiki/CannabisintheUnitedStates

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. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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