Author: Complete Controller

At first, buying a property seems to be one of those decisions during dinner, from one day to the next. But many factors weigh on that choice. First, look at yourself and assess your needs, projects, and financial condition. Only after this session of self-knowledge do you have to go to the most desired phase: choosing the property.

But no hurry! Remember that a critical phase comes before financial planning. Without it, you run a severe risk of changing your feet by hand, making a commitment that can result in a pure headache.

If buying a property is in your plans, pay close attention to the information we put together in this post to help you take the initial steps when you need to organize yourself financially. Follow the content we have prepared right now!

The Ideal Time to Buy the First Property

Many people wait long enough to find the right time to commit to this dimension. And it must be so! After all, it is natural to fear such a delicate choice, for it touches on several important points. Among them are:

• The location of the property.
• The thin physical structure of the family.
• The lifestyle you intend to lead.
• The opinion of the other members of the family.
• The financial commitment that it will assume.

Pay attention to all this so that the dream of the first property does not turn into frustration. And do not forget that while you’re paying the installments, you may not be able to afford to buy a new home if the first one is inadequate for your needs.

So, once you realize that that property is not big enough for everyone, that you have structural problems, or that you are in a place that does not fit your standard of living, thinking about a new one may not be that simple.

As you can see, choosing the right time to buy the first property requires knowing yourself and evaluating all these factors. But how can I make this complete evaluation? Keep reading!

Be Confident of the Standard of Living You Want

As we said, the first step is to know yourself, analyzing your perspectives and desires for the future – including about the family you intend to form. Only then can you look at the options and see the beauty and the adjustment to the standard of living you want.

Have a Previous Financial Reserve

From now on, make financial security a priority. Only after meeting your basic needs should you chase after your dreams.

Having money saved, a reservation is essential to ensure you will not suffer suffocation at unexpected times. This extra also covers possible expenses with the change because you will not have to pay only the property’s value. Here’s what you’ll spend in addition:

• Payment of taxes, fees, and documentation.
• Possible structural adjustments and finishing improvements.
• Repair any problems, especially in the purchase of used real estate.
• Expenses with freight, disassembly, and assembly of furniture.

Saw? You should not even consider buying a property if you did not save in advance to cover it all! And that’s the cue to our next point: sometimes you must give up some things to achieve more important goals!

Be Willing to Save and Make Concessions

You will need to make choices to prepare for the purchase of a property. Go out twice a week, order food every Saturday, or do extra shopping often: were these expenses commonplace in your life? Maybe they must be left in the background to give way to the realization of their dream. Be ready!

Every unnecessary expense takes you away from your goal. Be willing to economize and give up (always in a balanced way) hobbies and habits that may be constant in your life.

We’re not talking about letting go and not having a few more fun times. What happens is that each expense needs to be chosen carefully, in a planned way, without departing from its financial goals. That’s right: you’ll need to set goals if you want to conquer your property and not stifle your budget.

Remember: You can always track your performance if you know where you want to go.

Clarity About What is a Priority

Aside from worrying about the financial issue, you must also evaluate the property, comparing it to your priorities. For some people, a well-located neighborhood is more important. For others, it is better to live far away, since having a larger space.

While some prefer the more spacious living of a home, others like life more in an apartment with all the practicality and security it provides, if you do not think about these priorities, you may jeopardize your dreams for the new home.

Be Aware of Your Financial Capacity

Have you ever heard that you should not try to hug the world with your legs? This saying also has a lot to do with the moment! Having a good, well-located, spacious, and comfortable property may be your will, but let’s face it: we are not always financially prepared to afford it.

Know your financial capacity. It is imperative not to make decisions that will overburden your budget. You can lose your dream real estate if you hire financing or a consortium with very high installments and delayed payments! So, know the limits of your pocket. It is one of the most basic tasks before deciding to buy.

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 generation of today, or Gen Y, is the carefree generation who worships the YOLO – You Only Live Once attitude. Not worrying about the future, investing their time, energy, and even their money in the present is the mantra that keeps them going.

This generation does not understand that time is their most important asset. It is something the age will not get when this generation needs it. Therefore, the sooner the millennials begin their financial planning, the better it will be for them. Millennials must consider planning for their future or retirement plans rather than earning and spending it all on the present.

The benefit of time can help millennials design an extensive financial plan that will serve as excellent support for them in the future. Here are tips to help millennials create an innovative financial plan and secure their futures!

1. Use the time

Time is the most significant advantage millennials have! Instead of waiting until their 40s or 50s, millennials can save today. Rather than spending every penny earned, they should take out small portions of their earnings. Soon, keeping will become a habit, and they will save a considerable amount at the time of their retirement. Many experts stress that time is something, not many people have, but these young souls can start saving today for a better future!

2. Money management strategies

Another tip to help millennials in their financial planning is cultivating proper money management habits. A balance sheet is a wise approach, as it will provide a financial summary, assisting an individual to track all the money earned and spent. These balance sheets can help millennials prepare a plan to reduce some luxuries and cut down on unnecessary expenditures.

3. Setting financial goals

Setting up financial goals is an excellent way of planning for the future. The people of Gen Y have big plans when it comes to their lifestyle. Therefore, it is best to set their goal for retirement at an early age to have a fair amount to spend on a lifestyle just as they dreamed of in their young minds. Retirement and the goal of buying a house or car can give these young minds a direction to work.

4. Thinking wisely about debts

The debt that a massive number of millennials get themselves into is a study loan. Of course, it is a step taken towards a prosperous future. But when taking a loan, millennials must plan how to pay off the debt.

Using credit cards is all fun until one gets into credit card debt. Considerable interest is imposed after delaying the payment of these credit cards. Not paying the credit card bill every month may lead to a massive debt, which one will have to keep paying throughout one lifetime. Therefore, if one uses a credit card, it should be paid for every month.

5. Health insurance

It is a smart move to think about the possibilities soon. Opting for health insurance makes sure that one’s health is covered if one falls seriously ill. Before one goes for this plan, it is best to calculate and analyze whether the premium payments are affordable or not.

All in All

Today’s Millennials are more intelligent and are exposed to the perks of technology, enjoying a life entirely of convenience. They live on the concept of earning in the present and spending in the present. A financial plan is something that they need to work on because they have the element of time in their favor today, and they must make the best use of it! By planning financially, they can promise themselves a life full of comfort at an older age!

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 definition of madness is to do the same thing over and over again, hoping to obtain different results.” 

– Author unknown

According to the Wall Street Journal, US consumer savings has reached a level not seen 12 years ago. The article shares two critical reasons: the rise in prices (inflation) and the optimism that consumers have that the economy is improving and will provide higher incomes in the future.

Then, just like recycled novels, we return to the same starting point before the economic crisis. Everything is going so well in our economy and, therefore, macroeconomics that we forget the pillars of a successful financial life:

• Saving for emergencies.
• Keeping debts to a minimum.
• Having financial goals for the future.

Then, when those financial setbacks and challenges come, we ask ourselves: What do I do if I do not have money? We wrapped ourselves in a vicious cycle of debt, started reading and watching self-improvement videos, and decided to retake action. We repeat it until we forget how difficult it was to go through this crisis.

Suppose you are going through financial abundance and feel as optimistic as the average consumer in the United States. In that case, we want you to reflect a little and think about your financial goals, the 2008-2009 crisis, and how important it is not to deviate from saving. Now that everything is going so well, it is time to think that nothing lasts forever, and you must have an emergency fund ready to help us when we need it. Remember that you must invest in the future, with retirement funds, investment funds, in your own business, real estate, etc. This abundance is not here to buy the new iPhone, more clothes, or a new car; this abundance is here to help us push our goals and differentiate ourselves from the “bunch” that is the average consumer.

As you read the article in WSJ or read more good news about the stock market and the profits in mutual funds, remember when everything was not going so well. Also, recognize the scams and programs that promote wealth from one day to another. Do not forget your north; do not forget your goals; do not forget the savings and financial discipline. We all have a little crazy, but in this economic asylum, the sanest is that it triumphs.

What Can You Do to Save More?

Do not waste extra income

If a person receives extra pay or a bonus and ends up wasting it right away, they will never be able to save. Unless it is because of some need, try to save any extra income that comes to them. Even if a person is in debt, try to keep a small part of saving money for any unforeseen circumstances.

Look for offers and compare prices

There can be many differences in the price of the same product from one supermarket to another, so try to compare to see which one works best for you. Also, look for stores that have the best deals.

Stop impulse buying

If someone buys something for an occasion while shielding themselves in the phrase “I’m working for something,” they will probably not need it. If it is not something they need immediately to wait a few days before buying it, they will surely see more clearly if they need it or if it is an unnecessary expense.

All in All

You may not know what the future holds, and you may not know anything about unforeseen circumstances, making it essential for everyone to stay prepared. Be ready for the worst by following these tips; you will never struggle financially. 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.

Introduction

There is an eternal doubt about the criteria to evaluate an investment project and whether they are considered reliable, in addition to agile and precise management to make decisions to undertake or improve production processes.

In this article, an analysis generates the five most recurrent financial indicators that evaluate investment projects for their practicality in the calculation and the financial information they provide in their study and interpretation.

Some methods propose to generate an evaluation and plan as correctly and precisely as possible, estimating the return on investment in a given time, but above all, the level of profitability that the proposed business alternative can present.

Developing

The following methods to evaluate projects are the most common in financial analysis. It is worth mentioning that they have their limitations, pros, and cons, so it suggests carrying out at least three so that the decision is based on the results or more constant trends.

The five financial profitability indicators that are most frequently evaluated in investment projects are:

• Net present value.
• Internal rate of return.
• Cost-benefit ratio.
• Profitability index and the method of investment payback period.

Each project’s cash flows or net profits must be calculated as the first analysis element. All the numerical elements for the calculations must be at the present value.

Once the cash flows are determined, you can choose the profitability indicator you want to analyze to decide based on your result.

Below are the indicators and what we can expect from each of them:

1. The net present value (NPV) is the difference between the market value of an investment and its cost; it essentially measures how much value is created or added by making a particular investment.

• NPV> 0, accepted
• NPV = 0, investor’s decision
• NPV <0, not accepted

When evaluating an investment project based on the NPV, the analysis criteria of the indicator must be considered.

2. The internal rate of return (IRR) is the second most used indicator in addition to the NPV. The IRR is about finding a single rate of return on the project. It must take investment into account if the IRR exceeds the required return. Otherwise, it must be rejected. The IRR is the return necessary for calculating the NPV with that rate equal to zero.

An analysis is generated between two rates, with a calculation of two NPVs to include both amounts (rates and NPVs) in the formula.

3. The benefit-cost ratio (B / C) is the indicator that helps us compare income and costs at present value to obtain a result that tells us how much it costs and thus has good results.

• For each unit invested, the same unit and a surplus are expected.

The income and costs are updated, and the investment is added. After making the calculation that marks the formula, a return greater than unity is expected.

4. In most cases, the profitability index (IR), if the IR is greater than 1, the NPV is positive; if it is less than 1, the NPV is negative. IR measures the value created per unit invested.

• For each unit invested, the same unit and a surplus are expected.

Annual cash flows or earnings are updated and divided by investment.

5. The investment recovery period determines the time it takes to regain the investment.

A project is accepted if the investment recovery time is less than the established period.

Conclusion

After knowing the five profitability indicators most used to evaluate investment projects and thus manage to make decisions to invest or improve processes, the question arises: which method is better to use?

Most of the investors managing in the corporate and financial world mention that the NPV is the most reliable measure; it can decide if a project is a good investment or convenient to grow a business.

When an analysis of profitability indicators happens, the results take a trend. If some mark an acceptance posture, the other indicators will take the same path. If they do not, it could be said that it is poorly calculated.

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.

Many entrepreneurs confirm that finding financing is the most challenging step in starting a business. Generally, you can choose between public and private sector funding sources to help your business take off.

Financing of the Public Sector

The government is funding to help entrepreneurs like you start your own business. This funding is intended for specific demographic groups or industry sectors, while another domain is happening on a larger scale. Funding includes grants and contributions (which generally do not have to be repaid) and loans and loan guarantees (which, in most cases, must be paid).

Private Sector Financing

You can also turn to the private sector for financing for your business. You can look at critical financial institutions like banks, credit unions, and co-operatives. Also, depending on the type of business you want to start, it is possible to obtain venture capital or financing from angel investors. Below are resources to help you get started.

• Private financing

The private sector offers various financing types, including debt and equity.

• Sources of private sector funding

Learn more about debt and equity financing from the private sector to meet your business needs.

• Deal with the banker and other lenders

Find out what bankers look for in a loan application and get private-sector financing for your business.

Choose and Arrange a Location

Are you looking to position and develop your business when the time comes? Check out these resources and assess your options.

• ZOOM greater Montreal

Thanks to this tool, you can consult the offers of land and industrial and commercial buildings for sale or rent in the Montreal region.

• Rent a commercial space

It allows you to take note of the key elements to examine before renting a retail space.

• Arrange your home office

For those who work from home, it is essential to have a functional office space. You must ensure your home office is adequate and meets your needs.

• Home business

Examine the issues to ensure that working from home suits your personal and professional needs.

Determine Permit and License Requirements

You may need to obtain specific licenses and permits from the federal, provincial, or municipal government. The permission will depend on your location, your sector, and the nature of the activities you plan to undertake.

Hire, Manage, and Train Employees

Learn about recruiting, hiring, and managing employee relationships, and learn about your ongoing responsibilities regarding, among other things, payroll, pension, taxes, compensation, health, and security.

Hire Employees

• Recruit a sales manager

This guide offers a simple process to follow and includes examples to help you choose the best possible candidate.

• Recruit employees

This guide provides information on jobs, wages, prospects, regulations, functions, required skills, education, and training.

• Recruit in four stages

This guide informs you about your rights and obligations regarding recruitment and offers tools and resources to guide you on your journey.

• Recruit and manage sales staff

This link allows you to find sellers to understand the need for the job interview. She explains how to write a payment structure to promote high sales.

• Teleworkers

This guide offers a solution. A teleworker, an employee who works outside your office, could be an excellent option for you.

• Integration fund for people with disabilities

Funding is available to a disabled person who is considering going into business or wanting to hire a disabled person.

Training Your Employees

There are many types of training for employees. Your needs, workplace, and preferences will determine the training you choose. Improving basic skills can be a success in your workplace. Employee training under professional guidance will always help you achieve your business needs, whether in language skills or learning.

According to one of the effective surveys, 31% of CFOs reveal that their companies decided to enhance investment in employee training this year. It is pretty easy to understand the logic behind this considerable expense. The reason is to train the employees with solid technical skills, letting them work more efficiently. As a result, workers work with full attention and strive hard to commit minimum mistakes. Also, they learn some soft expertise such as written and oral communication, leadership, and collaboration. These traits are pretty vital for team success. Hence, companies get more ROI with excellent feedback from clients than before.

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.

I’m excited to share that being in a relationship offers an incredible opportunity to impact one another’s lives positively. That being said, it’s important to approach financial management with thoughtfulness and care. When done right, it can strengthen your relationship in ways you never thought possible. Let’s work together to ensure our relationship thrives and endures.

According to the article “The rules on money that follow successful marriages,” published by the Personal Finance portal, these are the points you should keep in mind so that your love relationship is not in trouble for this issue.

Always Have a Limit

Each couple must set a spending limit amount for each member. It implies that figures below that amount may be spent without prior consultation, while both must consult those that exceed it. The reason is that this measure demonstrates that each one’s criteria are valued. Still, the opinion of the other is also essential, strengthening the bond between them.

Respect your partner’s income and avoid becoming much of a burden. Take responsibility for your expenses and try being a helping hand more than some extra load. And this advice works both ways. Even if your partner does not earn, you must try your best not to be problematic. There is always a limit to everything.

Seek What’s Best for Both of You

Work towards realizing a reasonable budget that fits your income and is a means to reach your financial goals. It means that it must take the opinion of each one into account and that to achieve common goals, everyone must achieve their goals before they can achieve them. Marriage should bring out the best of you, but that does not mean you get to ignore the tough times your partner is going through. Sometimes, one partner gets promoted and then decides to leave the town or country. If you are that person, notice how your partner feels about this. Do not get too excited; talk to your partner and figure out a way out. Both of you must work on what’s best for the marriage.

Equity Always Comes First

Keep in mind that everyone’s income may be different, which is why no one should assume a responsibility that involves putting aside their obligations. In this way, it can fulfill the previous advice more efficiently.

Sort out a complete budget plan and assign duties, bills, and responsibilities. A marriage can never work if both ends do not agree on the same page.

Allocate a Part of the Total Income to the Timeshare

This advice is the most important because the relationship must be working before thinking about a proper way to manage your finances.

Go to the movies, walk, and share quality time with your partner. Considering the established budget, many plans can be made and maintained. Make sure that you are aligning your goals with your partner’s.

The key to every relationship is communication. Talk to your partner and try to explain your expenses and understand theirs. We know marriage is a sacred bond involving years of hard work, pain, happiness, and sorrow. However, the truth is marriage is all about understanding the person before you and their needs.

All in All

Congratulations on having a stable partner and making the wise decision to manage your income. It’s crucial to prioritize your well-being by creating plans and goals. Allocating a portion of your income to spend quality time together will strengthen your relationship and prevent financial stress. With proper financial management, your partnership will thrive. Let’s work together to create a plan that guarantees your financial security as a couple.

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.

If companies get into a crisis, they should analyze its reasons. The aim is to restore liquidity and increase profitability.

Most companies do not want to know about the crisis and turnaround. If it went well for years, there could be a bad year or two. But it quickly turns into three or more years. Many turnaround situations arise. It is, therefore, often difficult to tell when it is available. The leading internal indicators:

• Sales and EBIT stagnate or decrease over two or more years
• Changes in markets (products or regions) are recognized late or not at all
• Loss of orders for core products or core services
• Loss of critical accounts
• High production costs in the benchmark
• Changes to customer requirements without the company responding appropriately, such as service, delivery times, costs, or customer complaints
• Unmotivated, frustrated, or poorly trained employees
• High performers leave the company

Possible External Reasons for Turnaround Situations

There are also several external indicators from which turnaround situations can arise with high probability:

• Macroeconomic factors such as the economy, inflation, or interest rate developments
• Mergers or acquisitions of companies
• Removal of company parts (carve-out)
• Takeover or sale by private equity providers

Experience shows that there is usually no single trigger. Turnaround situations typically arise from a combination of factors that reinforce each other in the worst case. Such problems are recognized late mainly because management does not want to acknowledge the situation. Or cannot see because the controlling is insufficiently developing. Then the analysis of the current situation only provides insufficient information or relevant data too late.

Basic Goals of a Turnaround

Those facing such a starting position as a manager have often not done their homework beforehand. Turnaround situations are often associated with a change at the management level. Anyone who takes on such a mandate as a manager should closely examine his task and the general conditions because a turnaround can only succeed if the appropriate freedom of action.

The primary goals for the turnaround are clear and straightforward: it is about restoring liquidity, increasing profitability, uncovering the most critical problems and shortcomings, and quickly identifying possible improvements. It is only in the second step that long-term viability is ensured.

Capture the Market Potential and Actual Customer Shares

To grow in a consolidated manner, it is also essential to grasp the real market potential and basic customer shares right from the start. If there are real opportunities here, the prerequisites for a turnaround are not insufficient. Requirements:

• The supervisory board, banks, owners, trade unions, and employees grant the responsible manager extensive decision-making freedom for the next six to twelve months.
• The company has sufficient residual mass to cover the first six months.

The analysis of significant external and internal factors helps first to get a first overview. It’s about getting a quick overview. A lengthy, complete investigation is not required. There may be time for this when the company is back on track.

Analysis of External Factors in the Turnaround

Finances

Overview of the company’s financial position (creditworthiness, exchange rate development)

Market

• Market assessment
• Market slump (how much?)
• Rising pressure on prices and performance (impact on customers?)
• Change in the competitive situation (why?)
• Fall in demand (causes?)
• Technological change (effects?)
• Development of key accounts

Operations

• Problems with delivery dates
• High purchase prices Analysis of internal factors in the turnaround Finances
• liquidity
• Equity ratio
• Interest charge
• Forms of financing
• Material cost analysis
• Larger private withdrawals

Management

• Expertise in core processes and strategic decisions (wrong strategy, handling critical information)
• Leadership style

Operations

• Quality (how many problems cause extra effort?)
• Process analysis
• Bad investments
• Inventory analysis
• Lead times

Staff

• Loss of relevant employees
• High personnel costs
• Salary model
• Suspected embezzlement

Distribution

• Pricing policy
• Order structure

Ensuring peak performance in a factory is crucial, and we have some great tips to help achieve it! Firstly, it’s essential to regularly check throughput times and thoroughly inspect the factory to identify any areas for improvement. Assessing processes and evaluating the age and maintenance of machines is also key, as is maintaining a clean working environment and complying with regulations.

To stay on top of the order structure, we recommend having open discussions with the sales department, current customers, and even competitors. Addressing any issues that arise promptly is critical, and we’re here to help you take the necessary steps to neutralize, avoid, tackle, or protect against them. Ignoring problems can be harmful to your growth and restructuring efforts, but we’re confident that with our thoughtful approach, we can help you achieve optimal factory performance and success.

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.

If you intend to start saving but it is not good to do so, these five ways can help you start taking care of your money. Whether you want to create some of your purposes this year or only because you have a difficult start, it never hurts to start saving to have the right mattress of money.

But the truth is that economic priorities do not usually include savings, and they have a reputation for being complicated. Still, by organizing your finances and controlling your expenses, you can keep the money.

When trying to achieve this, the main thing will be setting realistic and attainable goals, even if little by little. These five options could help save money easily with small sacrifices.

Bottle of Coins

It is one of the simplest saving methods. The idea is to collect coins of the same denomination in a two-liter bottle, so in the end, you will have the right amount of money without feeling the sacrifice of a large monetary charge.

It works the same way as a piggy bank, with the difference that being a transparent container, you can see the accumulated, which will serve as an incentive to fill it.

26-Week Challenge

It may seem like a long time, but saving little by little is easier if you see it as a daily task. The best thing about this challenge is that it will have accumulated over $50,000.

The challenge is to save a certain amount and increase it progressively every week. Thus, if you start with $26,000 in week one and increase $1,000 weekly, in week 26, you will have $52,000.

Eliminate an Activity

It is a method of saving that consists of eliminating an activity from your routine, which you continuously do where you spend money when you could be saving it. For example, if you buy a coffee every day, stop doing it for a month, and keep the amount you spent, you will realize it can convert that small expense into income at the end of the month.

Envelope Method

It could be considered an ‘outdated’ method, but it is beneficial for organizing. Ideally, start by defining the money’s categories (fixed expenses such as transportation, food, services, and entertainment). Then, take an envelope for each category, and when you receive your income, you must distribute them in the pockets.

Create an Account that Generates Interest

An excellent way to save is to have a separate savings account from your corporate account, as it helps reduce the tendency to withdraw funds from those savings from time to time.

In addition, if your savings goals are long-term, consider products with performance rates, such as a CDT or seed plan. So, you can control your savings and enjoy them later with a bit of performance.

Eliminate Unnecessary Luxuries

If a person does not get to the end of the month or can’t save, they must first cut the luxuries. They can do their manicure at home instead of going to the beauty salon every week or working by subway instead of by taxi. They will see everything they save by cutting here.

Do Not Shop Impulsively

If someone buys something for an occasion while shielding themselves in the phrase “I’m working for something,” they will probably not need it. If it is not something they need immediately to wait a few days before buying it, they will surely see more clearly if they need it or if it is an unnecessary expense.

All in All

You may not know what the future holds, and you may not know anything about unforeseen circumstances, which makes it essential for us to stay prepared for anything and everything. Here are some simple tips that can help a person save more money. Be ready for the worst by following these tips, and you will never find yourself struggling financially.

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.

Social media has emerged as a powerful tool that can significantly enhance a business’s visibility in today’s digital age. As a restaurant owner, you have a unique opportunity to engage with your customers and attract new ones through social media. So why not capitalize on that opportunity? The best part is that you don’t need a massive budget to make the most of it.

Experts in the industry agree that social media is the most effective way to reach a large audience and promote your restaurant efficiently. From big brands to small entrepreneurs, everyone is embracing social media to get their message across, and you can, too. However, choosing the right social media platforms to promote your restaurant is crucial. In this regard, we’ve compiled some practical and effective ways to promote your restaurant through social media.

We firmly believe that with the right approach, your restaurant can gain the recognition and success it deserves, and social media can be your ticket to success.

Creating a Facebook Page

It is no secret that Facebook is today’s most popular social media platform. Making a fan page about a restaurant on Facebook is a great way to promote a restaurant. Posting a picture or a video with the text will get a better response. Interact with the customers, listen to what they are saying, and evolve accordingly. Facebook also offers paid advertising, which is an excellent way to get more exposure faster. Creating and maintaining a Facebook page is straightforward; almost anyone can do it.

Use Twitter

Even though a person cannot post more than 140 words on Twitter at once, Twitter is one of the best promotional platforms for short messages such as new deals, offers, etc. People can also add images and a website link to their Twitter posts for a better response. The best thing about Twitter is that if the reader decides to re-tweet, it will give more exposure to the original post, enabling it to reach a bigger audience. Twitter also allows paid promotion, allowing a person to promote their post to a targeted audience. Such tweets are highly effective, especially the ones with images.

Create a Blog

Blogging may be challenging, but it’s worth it. A successful blog regarding a restaurant is equal to unlimited exposure and, in most cases, even success. The leading search engine like “Google” prefers fresh content; if a blog provides that, it will rank properly. Feel free to share recipes, decor images, menu items, new offers, and other facts. People can also link their blog posts to other social media accounts for more exposure.

Be accessible to stats that make this specific restaurant unique, such as a sports bar, a juice bar, and other things, based on the targeted audience.

Make a YouTube Channel

Creating a YouTube channel for a restaurant business is another excellent way to get more exposure. A person can share recipes, interview customers, post their feedback, give different tips regarding cooking, etc. According to business experts, people respond better to visual content than any other marketing strategy. Making and posting videos will surely increase restaurant visibility in the market.

Using Instagram

If there is a perfect place where a person can share their restaurant menu, it’s Instagram! The best part about sharing images on Instagram is that it integrates with Facebook, so the content posted on Instagram will show on both platforms. According to research, posts with high-quality images and hashtags attract 30 percent more audience than others. 

Pinterest

Pinterest is another social media platform that can draw many potential customers. Even though Pinterest isn’t the most popular way to promote a restaurant, it is worth a shot; a person can start with posting recipe boards, item menu boards, quotes/photo boards, and special events and accouchement boards.

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.

We all have in mind the business of our dreams that we want to undertake, but we are terrified to do it for fear of failure and to lose our heritage. One of the main reasons people do not undertake is a financial question: With what money do I start? How do I keep it? How do I manage it? All are vital questions.

According to data from the 2013 Employment Survey, Eight out of 10 young Mexicans intend to undertake. Among the reasons are our bosses because we believe that we will earn more money because we will have freedom of schedules and more flexibility. We will not deal with a superior, but these conditions can become simple myths.

While the idea of entrepreneurship is attractive, it also relates to fears. Or don’t we all know the story of someone who lost their money from starting a business?

Therefore, before you quit your job and throw yourself into the ring to open your business, we give you some tips to help you.

Make a Business Plan

A business plan must decide whether the business is viable or not to play your assets. The project must contemplate a detailed budget for the first three years of your idea’s life. Here, it should be clear what your brand brings and why it is unique. Besides, you must have a financial plan to know where the money comes from and where it goes.

Set a Salary for Yourself from the Beginning

Remember that you are not the “petty cash” of your business, and the company is not the “petty cash” of your family.

Analyze the  Competition and Know Every Angle of Your Business

No matter how much passion you have, if you do not have all the information in your market, your competition, and complete knowledge of what you will offer in your business, you will face problems. Do your homework! Nothing costs you; on the contrary, it will help you finish polishing your business.

How do I Manage my Money?

Once you have your business plan – including the financial part – what follows is how I manage that money? Whether it’s the money you saved for a long time, the money from your partners, a bank loan, etc., you need to tidy it up.

An application that has proven to be an ally of entrepreneurs is the online platform, which helps manage your savings to meet your goals.

One of the keys to saving is to have a clear objective; this platform allows you to have several goals and use money with the order. You can open an account to save for purchasing an apartment while saving to open your business, and you also have an emergency fund. Altogether, but not scrambled.

This way, you will avoid confusing your company’s money with your own, as it will be all through separate bank accounts.

You must create a profile and indicate that you are saving for a business in the future. It will depend on how long you want to open your company; the system will recommend you. If you are starting, you better stay in a conservative investment profile to have the money at hand at the right time.

Another advantage of using this platform is that you can invest your business’s profits. There will come a time when the company allows you to have profits that you will no longer reinvest, and what follows is to grow your money – to have a quieter future – for that, the same platform offers you access to investment funds, but That is another issue.

All in All

Even if it seems too early, you should always consider the future and contemplate how you will grow your business and get enough money for your 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 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.