Let’s look at the central leadership styles and the pros and cons of each.

Authoritarian Style, or “As I said, So be It.”

The younger generation of entrepreneurs, typically, as a rule, are very authoritarian and harsh in judgments; they recognize only their own opinions. They do not allow the slightest deviation from instructions, regulations, charters, or the company’s order. They tremblingly observe subordination – they do not enable liberties with the ordinary people; this is not a master’s business. Here is the paradox: they do not trust their employees, but at the same time, they want their work tasks to be performed flawlessly.

Disadvantages of an Authoritarian Style

You can throw away a child with water: those who are used to not listening to the opinions of online store employees run the risk of not hearing valuable ideas that will profit the company. Someone who does not allow informal relationships with subordinates may not notice the love of their life or someone who can become a best friend.

Stubbornness is not perseverance. The percentage of layoffs in companies with an authoritarian management style is higher. Employees in such companies do not develop, offer ideas, or learn new things.

Advantages of an Authoritarian Style

Iron discipline. Clarity and transparency of all business processes. The boss-dictator knows precisely how and what happens in the company at each stage, what tasks are solved, and who performs them.

In a crisis or stressful situation, employees will not be confused but will follow the orders of their superiors—they are no strangers to this. With a democratic or liberal leadership style, this is more difficult to implement: in the event of force majeure, the bosses and employees can storm like a ship in bad weather.

Democratic Style, or “Let’s Think Together.”

Democratic management style is a tricky thing. In general, the democratic style is a priority in young modern companies. The leader does not make decisions alone – he consults with the team, arranges brainstorming sessions, and tries to ensure that each employee reveals his potential. If the Democrat boss is wrong, he does not blame the staff for everything but concludes. At the same time, he remains a leader – he does not remove himself from the leading role and does not emphasize that “we are all equal here, guys.” A team is a team, but you must build the hierarchy.

Cons of democratic style

Decisions can take a long time. The more people involved in the discussion, the longer the process can take. Time management and clear deadlines for setting tasks will save the case.

Advantages of the Democratic Style

If you do not make mistakes, a democratic style can become the basis for creating a cohesive team. It strengthens team spirit and makes employees like-minded people united by one goal. It’s good if the company has a well-developed corporate culture – a mission and values, the main tasks for the coming years, and a big shared idea.

It will reduce the number of errors in the work. If many people are involved in solving the problem, you will have a greater chance of finding the best option—minimum staff turnover.

Person-Centered Style, or “Don’t be Afraid, I’m with You.”

Practicing an individual approach is the right thing to do. Bosses (usually women) like to conduct psychological tests and arrange corporate parties and joint gatherings to get to know their employees better. However, it would be best if you did not overprotect workers: You are not a hen, and they are not helpless chickens. Trust, but verify, be not a mom but a boss—this is the moral of this fable.

Cons of a Person-Centered Approach

As a rule, bosses of this type are soft, sensitive people. Good relations are more important to them than the profit of the company and its development. Therefore, sadly, a quiet boss can quickly be “eaten up” by his more resourceful colleagues or one of his subordinates.

Wake up, guys; this is business! No delegation of authority. Instead of giving clear instructions and controlling the process of completing tasks, such leaders either do everything themselves or forgive endless delays. Here, you need to make difficult decisions and take significant risks. Otherwise, there is a risk of burning out and becoming bankrupt.

Advantages of an Individual Approach

Good relations are almost the main thing for half of the employees. Despite the low salary and minor career prospects, many will hold on to this place with their hands and teeth if they find an understanding boss.

In a crisis, employees will stand behind the boss with a mountain and not let the company fall apart.

So How Should You?

In each of the three styles, what leadership style to choose and how to behave with subordinates depends on your personality, character, or situation. This is called situational management. Moreover, it is possible to apply different leadership styles, depending on the situation, even in interaction with the same person. To be an authoritarian leader, somewhere – a wise mentor, sometimes to provide the necessary paternal support. Here is a table to help you skillfully navigate between several management styles.

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 in the stock market is a massive piece of the puzzle of financial planning and strategies for almost everyone. It is a great way to plan for retirement or even just passive income. The advancement in technology has made it much easier for anyone to step into the stock market world and invest in it online than following traditional funding methods.

While stepping into the stock market seems like a big step for beginners and investors, technology has made keeping up with stocks easier and made the stock market much more accessible. Still, some investors are happy with putting up their money into a boring fund and letting it simmer for the long term. On the other hand, some sharp intellects invest their money in stock trading.

There are stock trading mobile applications for those searching for a better way to buy and sell shares or want to trade more than once a day. Since the mobile application was launched, it has been of great help to people. After reading this, you must consider which app to choose and which is efficient. The best stock market mobile application depends on your needs, experience, and goals. We have reviewed tradable assets, charges, what brokerage has said about the stock market, and mobile applications for high-level investors and beginners to give you the best insight.

Read on to find out which one can work best for you.

Investing.com

A popular mobile app to track stocks worldwide is Investing.com. This application’s quality is that it offers live quotes and charts of thousands of different stores from all around the stock market. You can also access commodities, foreign exchange, bonds, interest rates, future opportunities, and more.

It is not popular because of these features. This application’s most notable feature is its economic calendar, which comprehensively updates global economic events. You can then identify how this impacts the market and specific stocks. It offers a customizable alert for market watchers about the process and specific changes in the exchange market.

Yahoo Finance

The Yahoo Finance application is the most famous place online to grab all finance-related information. Track your portfolio and get insight into real-time stock information. You must add stocks to your watch list, receive quotes, and be alert about the companies. Transmute your mobile phone into the landscape and enter the world of finances with quotes and charts. Access all information about sticks. This application even allows you to explore the different options for your finances.

Currencies, bonds, past tracking markets, commodities, and equities are readily available on Yahoo Finance. Tap a button, and all your information will sync to multiple devices.

StockTwits

This interactive yet engaging social application allows you to efficiently chat with other investors and traders to better understand stock market trends. In addition to the general chat market, there is an investor chat for each stock chart.

To help watchers explore the market, you will find an automated and hand-curated stock list to give you a broad canvas to explore new ideas. This application also includes the cryptocurrency option. The app provides a calendar to view stocks with future earnings reports. You can easily trade from StockTwits and connect with giant brokerage accounts like Fidelity, E-trade, etc.

Real-Time Stocks Tracker

As you can guess by the name, the real-time stock tracker works optimally and provides live streaming of stock information—the ability to create and track multiple watch lists and stock traders’ profiles. So, you can quickly sell and buy a stock just by swiping from left to right.

Each stock page provides a nice amount of information, technical indicators, and comments. It has a built-in stock scanner. You can input variables such as price, market cap, and EPS to find the exact stock that piques your interest.

Bloomberg

Blomberg is an iconic name in the financial stock market. It is one of the best ways to track your stocks and stay updated on business analytics. You can create a portfolio with mutual funds, supplies, and more. The application will provide alerts according to your selection and other financial and economic factors.

Another unique feature is that you can also tune in to Bloomberg radio for free. With a subscription, you can also get access to a TV channel.

Whether you are a stock specialist or a beginner, this app should help you stay informed about the world of stock trading. 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.

What is 401(k)?

401K is a retirement plan named under the Internal Revenue Code section. The 401K is a plan sponsored by the employer of the United States to provide pensions to employees. It’s a way to save money for retirement. 

If your company offers a 401K retirement plan, you should contribute a percentage of your income to that plan. That percentage from your payment will be deducted, and keep saving up in your retirement plan. Furthermore, you invest in various assets such as bonds, mutual funds, stocks, and cash.

Working on the 401k- Retirement Plan

It’s a retirement plan offered by employers to employees and workers so that an amount of money is saved up for them when they are too old to work. Once an employee accepts the offer, a decided percentage of money is deducted from their paychecks and invested in the 401K – retirement plan. The choice of investments leaves the employee, such as stocks, mutual funds, etc. 

The investments are tax-free, and the employer makes matching contributions. If these two factors are involved in the employer’s 401K plan, then you should invest a large sum of money each year.  

A bonus tip! 

If you plan to change jobs and have invested in the 401 (k) retirement plan, you should consider a 401 (k) rollover. This is a transfer of your funds from the employer to an individual retirement account (IRA) or another 401 (k) plan offered by your new employer. Another option you can choose is cashing out your 401 (k) retirement plan, but remember that it will come with many penalties. 

Now you know what 401K is and how it works, so let’s dive into its benefits. See for yourself why you need to invest in the 401K retirement plan.

• Contribution of employer 
• Tax Advantages
• Saving from the creditors 
• High contribution limits 

Let’s discuss these in detail now! 

Benefit#1 – Contribution of Employer

A 401(k)-employer match is free money invested in your retirement plan. There are many companies where employers offer to match the contributions in your 401K retirement plan. It can be dollar for dollar, 50 cents to the dollar. It means that if you earn 100,000$ a year and you contribute 7% of your annual income to 401K, then the employer will donate 50% of that moment. It’s freely up to the employer how much they want to invest. Most companies go from dollar to dollar and would invest 50%. 

Benefit#2 – Tax Advantages

Another benefit of the 401K retirement plan is tax breaks. As said in finance, it’s like a triple crown. The first-time contributions are pre-tax. The person doesn’t have to pay taxes until they withdraw the amount. Another benefit is that the money you are contributing to a 401K retirement plan won’t be the same as your income, so this way, you will have low taxes to pay. Also, the money in your 401K will grow tax-free. This way, your savings will grow.

Benefit#3 – Saving from the Creditors

What if your financial situation falls apart? If anything happens, you don’t have to worry about your 401K plan because creditors won’t go after you. The 401K retirement plan is protected by the Employee Retirement Income Security Act of 1974(ERISA). So, your retirement plan is protected. You won’t have to suffer at the hands of creditors.

Benefit#4 – Easy Payroll Deductions

No matter your age, you should start saving money for retirement immediately. With a 401K retirement plan, you can start saving up for retirement the moment you turn 60. The plan automatically deducts your income, making the process easier for you. The money will be removed before you are paid, so you won’t miss the assumption.

These were the four benefits of a 401K retirement plan. The moment you hit 60, your pension will start coming in, and you feel blessed to have invested in 401(k) the moment you started working. So, don’t wait around and think that you are just 24 now. The years will pass in the blink of an eye, and you won’t have the time to save the money. Be wise and invest in a 401K retirement plan. 

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.

Earn Extra Cash by Renting Out Your Space Today!

Renting out extra space transforms unused square footage into passive income, whether through spare bedrooms earning $1,000-2,500 monthly, garage storage bringing in $100-600, or creative studios generating $50-500 hourly through platforms like Airbnb, Neighbor.com, and PeerSpace. The self-storage industry alone is projected to reach $89.94 billion by 2030, indicating massive demand for alternative storage solutions that individual property owners can fulfill at competitive rates.

Over my 20 years as CEO of Complete Controller, I’ve witnessed countless entrepreneurs discover that their biggest assets often sit right under their noses—literally. When we started our company, I converted our unused conference room into a rentable workspace during off-hours, generating an extra $800 monthly that funded our early expansion. The median Airbnb host earns $20,530 annually, proving that ordinary homeowners can create substantial income streams without massive investments or specialized skills. This article reveals exactly how to evaluate your space potential, navigate legal requirements, and implement proven strategies that successful hosts use to maximize rental income while minimizing time investment.

What does renting out extra space mean, and how much can you earn?

• Renting out extra space means converting any unused area of your property—bedrooms, basements, garages, driveways, or storage areas—into income-generating rentals through short-term, long-term, or hourly arrangements
• Spare bedrooms generate $1,000-2,500 monthly for long-term rentals or $100-300 nightly for short-term vacation rentals depending on location and amenities
• Storage spaces like garages earn $100-600 monthly, with peer-to-peer platforms offering rates 50% lower than traditional facilities, attracting budget-conscious renters
• Creative and professional spaces command premium hourly rates of $50-500 for photography studios, event venues, or meeting rooms through specialized platforms
• Tax advantages allow deductions for utilities, maintenance, insurance, and depreciation, significantly increasing net profitability beyond gross rental income

Types of Extra Space You Can Rent for Maximum Profit

Smart property owners recognize that virtually any underutilized area represents potential income. The sharing economy has created unprecedented demand for alternative spaces, from tiny closets to expansive event venues.

Residential spaces offer the most straightforward entry into rental income. Spare bedrooms remain the gold standard, with Airbnb’s median annual host revenue reaching $20,530—roughly $1,711 monthly. Long-term roommate arrangements provide stability at $1,000-2,500 monthly, while short-term vacation rentals in prime locations command $100-300 nightly. Finished basements serve dual purposes as apartment-style rentals or storage facilities, often generating similar income with less daily management.

Storage space for rent capitalizes on America’s $58.26 billion self-storage industry, projected to grow 7.5% annually through 2030. Individual hosts on platforms like Neighbor.com typically earn:

• Garages: $100-600 monthly
• Driveways: $100-500 monthly
• Basements: $75-400 monthly
• Sheds: $50-300 monthly
• Attics/Closets: $25-150 monthly

The beauty of storage rentals lies in minimal interaction requirements and steady, predictable income. Renters save approximately 50% compared to traditional facilities—a 10×10 space costs $42 monthly peer-to-peer versus $110 at commercial facilities—creating a win-win pricing dynamic.

Creative and professional spaces represent the highest-earning potential per square foot. Photography studios, podcast recording spaces, and unique event venues earn $50-500 hourly through PeerSpace and similar platforms. A West Hollywood couple converted their 300-square-foot garage into a modern studio for $80,000, now earning $1,800 monthly—a 27% annual return on investment.

How to Rent Extra Space: Legal Foundation and Preparation

Success in space rental services requires understanding regulations before investing time or money in preparations. Legal compliance protects your investment and prevents costly violations.

Zoning and permit requirements vary dramatically between municipalities. Most residential areas allow long-term roommate rentals without special permits, but short-term vacation rentals often face restrictions. Contact your local zoning office and review the homeowners’ association bylaws before listing any space. Some cities limit short-term rentals to owner-occupied properties or require business licenses costing $50-500 annually.

Insurance considerations protect both property and income. Standard homeowners’ policies typically exclude business activities, making additional coverage essential. Umbrella policies ($150-300 annually per million in coverage) provide cost-effective liability protection. Platform-provided insurance through Airbnb or Neighbor.com offers basic coverage but may not address all scenarios. Review policy exclusions carefully and consider specialized short-term rental insurance for frequent hosting.

Space preparation directly impacts earning potential and renter satisfaction:

• Deep clean and declutter thoroughly
• Install quality locks on private areas
• Add adequate lighting and ventilation
• Apply fresh paint in neutral colors
• Secure valuable items in locked storage
• Create clear pathways for easy access
• Install smoke detectors and carbon monoxide alarms
• Consider security cameras for common areas (with proper disclosure)

Professional photos increase booking rates by 40% on average. Invest $150-300 in professional photography or learn basic staging and lighting techniques for DIY shots that showcase your space’s best features.

Benefits of Renting Out Extra Space Beyond Income

The advantages of renting storage units and other spaces extend far beyond monthly checks. Smart hosts leverage these opportunities for comprehensive financial and personal growth.

Tax benefits significantly enhance profitability. The IRS allows deductions for:

• Utilities (proportional to rental use)
• Maintenance and repairs
• Insurance premiums
• Property management software
• Marketing expenses
• Depreciation on improvements
• Professional services (accounting, legal)

Business-related rentals qualify for additional deductions through home office provisions. Track all expenses meticulously—Complete Controller’s bookkeeping services help maximize legitimate deductions while maintaining compliance.

Skill development through property management creates valuable competencies. Marketing spaces develops copywriting and photography abilities. Managing bookings improves customer service and communication skills. Handling maintenance teaches basic property care. These transferable skills often lead to career advancement or additional entrepreneurial ventures.

Forced improvement of living spaces benefits hosts personally. Maintaining rental-ready cleanliness elevates your own living standards. Many hosts report that preparing spaces for rental motivated long-overdue improvements, creating better environments for both renters and residents.

Finding Extra Space to Rent: Platform Selection Strategies

Choosing the right platform determines success in monetizing unused space. Each marketplace serves specific audiences with distinct expectations and pricing structures.

Airbnb dominates short-term accommodation rentals but also supports unique spaces for events and experiences. The platform’s 150+ million users provide massive exposure, though competition intensifies in popular markets. Airbnb’s Host Guarantee offers up to $1 million in property damage protection, while their commission averages 3% for hosts.

Neighbor.com specializes in storage rentals, streamlining connections between space owners and storage seekers. The platform handles payment processing, provides $1 million liability coverage, and charges hosts 4.9% plus $0.30 per transaction. Their focused approach generates better results for storage-specific listings compared to general marketplaces.

PeerSpace targets creative professionals and event planners seeking unique venues. Hourly bookings often yield the highest returns—a distinctive loft might earn more in one weekend event than a month of storage rental. PeerSpace charges hosts 15% commission but provides extensive marketing support and attracts premium clients.

Marketing beyond platforms amplifies success:

• Create dedicated social media profiles showcasing your space
• Join local Facebook groups for housing and storage needs
• Network with real estate agents familiar with temporary housing needs
• Partner with local businesses requiring overflow storage or meeting space
• Optimize listings with location-specific keywords and detailed amenities

Maximizing Income While Minimizing Risk

Nearly half of America’s 42.5 million renter households are cost-burdened, spending over 30% of income on housing. This crisis creates opportunities for affordable space solutions while generating meaningful income for property owners.

Pricing strategies balance profitability with competitive positioning:

• Research comparable listings within a 5-mile radius
• Start 10-15% below market for initial reviews
• Implement dynamic pricing for seasonal demand
• Offer weekly/monthly discounts for stable income
• Add premium services (cleaning, flexible access) for higher rates

Screening and agreements prevent problems before they start. Require government-issued ID, verify employment or income source, and check references even for storage rentals. Written agreements should specify:

• Payment terms and late fees
• Access hours and restrictions
• Prohibited items or activities
• Maintenance responsibilities
• Termination procedures
• Security deposit handling

Scaling gradually reduces overwhelm while building expertise. Start with one space, perfect your systems, then expand to additional areas or properties. Many successful hosts begin with simple storage rentals before advancing to more complex accommodation arrangements.

Conclusion

The opportunity to generate substantial income through renting out extra space has transformed from a side hustle to a serious wealth-building strategy. With the self-storage industry approaching $90 billion and median Airbnb hosts earning over $20,000 annually, your unused square footage represents untapped potential that requires minimal investment to activate.

Throughout my journey building Complete Controller, I’ve learned that sustainable wealth comes from maximizing existing resources rather than constantly seeking new investments. Your spare room, empty garage, or unused basement already possesses income-generating potential—you simply need the knowledge and systems to unlock it. Whether you’re offsetting mortgage payments, funding retirement, or building an emergency fund, space rental provides immediate cash flow with long-term appreciation benefits.

Take action today by evaluating your available spaces, researching local regulations, and choosing appropriate platforms for your situation. Visit Complete Controller to discover how our comprehensive bookkeeping and tax services help space rental entrepreneurs track income, maximize deductions, and build profitable rental operations that generate passive income for years to come.

Frequently Asked Questions About Renting Out Extra Space

What types of extra space can I rent out for income?

You can rent virtually any unused area including spare bedrooms ($1,000-2,500/month), garages ($100-600/month), basements, attics, closets, driveways, parking spots, sheds, or even unique spaces like barns or studios. Match your space type with appropriate platforms—Airbnb for rooms, Neighbor.com for storage, or PeerSpace for creative venues.

Do I need special permits or licenses to rent out space in my home?

Requirements vary significantly by location and rental type. Many areas allow long-term roommate rentals without permits, but short-term vacation rentals often require business licenses ($50-500 annually) or special permits. Always check with your local zoning office and review HOA restrictions before listing any space.

How much can I realistically earn from renting storage space?

Storage rental income depends on location, size, and amenities. Garages typically earn $100-600 monthly, driveways $100-500, basements $75-400, sheds $50-300, and smaller spaces like attics or closets $25-150. Peer-to-peer storage rates run approximately 50% less than traditional facilities, attracting budget-conscious renters.

What are the tax implications of renting out extra space?

All rental income must be reported on Schedule E if exceeding $600 annually. However, you can deduct proportional expenses including utilities, maintenance, insurance, depreciation, and marketing costs. Business-related rentals may qualify for additional home office deductions. Professional tax consultation helps maximize deductions while maintaining compliance.

How do I protect myself legally when renting to strangers?

Create written rental agreements specifying all terms, require security deposits, verify renter identification and references, maintain appropriate insurance coverage (umbrella policies or specialized rental insurance), install security measures like locks and cameras, and understand your state’s landlord-tenant laws regarding evictions and disputes.

Sources

• Business Insider. (2021, June 30). “How I Made $16,000 a Year Renting Out My Spare Bedroom on Airbnb.” Sasha Im. www.businessinsider.com/airbnb-host-rental-spare-bedroom-side-hustle-income-2021-6
• Dollar Sprout. (2024, April 29). “6 Ways to Make Money Renting Out Your Space.” Ilir Salihi. dollarsprout.com/make-money-renting-out-your-space/
• SummerOS. (2025, August 6). “How Much Money Can You Make on Airbnb? (A Real Answer, Not…)” summeros.com/insights/how-much-money-can-you-make-on-airbnb/
• Storeganise. (2024, October 4). “Self Storage Trends and Statistics: 2025 Industry Report.” storeganise.com/blog/self-storage-trends
• PeerStorage. (2025, July 1). “Common Storage Rental Questions Answered.” peerstorage.co/common-storage-rental-questions-answered/
• U.S. Census Bureau. (2024, September 12). “Nearly Half of Renter Households Are Cost-Burdened.” census.gov/newsroom/press-releases/2024/renter-households-cost-burdened-race.html
• GatherADU. (2025, March 17). “How much rental income can you make with a studio…” gatheradu.com/blog/how-much-rental-income-can-you-make-with-a-studio-garage-conversion
• Internal Revenue Service. “Publication 527: Residential Rental Property.” www.irs.gov/publications/p527
• Wikipedia. “Self Storage.” en.wikipedia.org/wiki/Self-storage
• U.S. Small Business Administration. www.sba.gov
• Complete Controller. “How to Make Extra Money by Renting Out Your Extra Space.” completecontroller.com/how-to-make-extra-money-by-renting-out-your-extra-space/
• Complete Controller. “Maximizing Home Business Tax Benefits.” completecontroller.com/maximizing-home-business-tax-benefits/
• Complete Controller. “5 Essential Marketing Strategies to Help Grow Your Business.” completecontroller.com/5-essential-marketing-strategies-to-help-grow-your-business/

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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There are several ways you can earn money by creating online courses.

The way you earn money from your courses will depend on several factors. For example, the more you sell, the more earning potential you have. If you are creating content for an audience that is highly engaged with their learning and pays to learn from competent teachers like you, then your earnings can be substantial.

Another way to make money as an online course creator is by promoting your course using paid advertisements. YouTube ads are one form of such advertising that many instructors take advantage of because they can be cost-effective and beneficial in driving sales. The better your videos are ranked in search engines like Google or Bing through SEO, the more likely potential students will find them when searching for relevant terms related to what’s covered in each video module within this course curriculum!

Sell Your Course on Your Site

Selling your course on your site gives you complete control over the look and feel of your system. You can also choose how to sell it on a marketplace like Udemy. If you decide to sell through your site, you’ll need to create a sales page that includes information such as price and payment options such as PayPal and an area where customers can sign up for their free product trial.

If possible, ensure customers can access all the resources they need, including videos, quizzes, and worksheets, in one place. It will help them get started quickly! You may also want to provide them with a PDF copy of each lecture’s handouts so they can follow along at home without having internet access.

List Your Course on a Third-Party Marketplace such as Udemy or Skillshare

These marketplaces are a great way to get exposure for your course and help you earn more money from each sale. You can list your course for free if it’s less than one hour in length, but if you want to charge for it, then fees will apply (from $5–$30).

Promote Your Course Among Your Followers on Social Media

Share your course on your social media platforms. Use the channels you already have to reach out to people and get them interested in what you offer, whether it’s a blog post, YouTube video, or email.

Post updates about your course. Use these updates as a chance to engage with customers who are already interested in what you’re selling and try to find opportunities for cross-promotion across channels!

Lead Magnet Marketing

According to Adestra, an email marketing software company, one of the most popular types of lead magnets is a PDF checklist that gives readers tips on how they can improve themselves or their business. For example: “The 5 Most Important Things You Need to Do Before Starting Your Own Online Course Business.”

The most important thing here is to keep it short and sweet, no more than three paragraphs, and include a link where they can go if they want more information about purchasing the course. For example: “Have you ever wondered how online courses work? Or whether starting one makes sense for your business?” to ensure this works best, you should also write an email that compels people to buy your course once they’re on your list.

Your Imagination Only Limits Your Options for Selling Online Courses!

Selling your online course is only limited by your imagination. You can sell it on your website, list it on a third-party marketplace like Skillshare or Udemy, promote it among your followers on social media, and even promote it to other audiences through targeted advertising.

As you begin to plan out how to sell your online course, keep in mind that many people who purchase online courses are looking for something specific they don’t have but want. For example:

You may have written an eBook about building websites. One of the most common questions readers ask is, “Where do I go from here? How do I build a website?” By creating an additional product, in this case, an online course that teaches them how to make their website from scratch and gives them access via email after purchasing the book, you can increase sales and customer satisfaction with one simple move!

To conclude, I hope this article has helped give you an idea of how you can earn money by creating online courses. Now, get out there and start taking advantage of these opportunities! 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.

What is Freelancing?

Freelancing is a form of self-employment, like running a business. It can be gratifying and fulfilling, but it is also very challenging.

Freelancing is difficult because you are essentially running your own business and don’t have the benefits of being part of an established company. You are responsible for everything from scratch, including creating a marketing strategy, creating content ideas, finding clients, and managing invoices.

You must be disciplined to succeed as a freelance writer, editor, or any other type. Ideally, you can set aside time each day or week to focus on your freelance business activities, such as pitching new clients or writing projects. If you don’t already have this kind of discipline built into your daily routine, then I recommend starting small by setting aside 15 minutes each day after work or school, where you do nothing except work on building your freelance clientele.

You are Self-Employed

Freelancing allows you to work independently, away from the office, and with flexible hours. However, you will also have to deal with your tax and insurance responsibilities. However, freelancing allows you to be your boss, work from home, and set your hours.

Furthermore, freelancers benefit from working in their chosen field of expertise, whereas employees are usually assigned tasks by their employers. It is a fantastic advantage since you can enjoy being self-employed and can work on projects that interest you.

Numerous Opportunities are Available

Many industries, like journalism, web development, and graphic design, can benefit from freelancing.

Freelancers usually work remotely, so you do not need to be in the same city as your client or employer. You can work anywhere you want.

The benefits of freelancing include:

• Expanding your career opportunities.
• Earn more money while working fewer hours.
• Having control over your life.

Self-Discipline

The skills required for freelancing vary depending on the job, but all freelancers must be able to manage their time well.

Managing your own time may be one of the essential skills you will need as a freelancer. If you don’t work your time well, you won’t be able to complete jobs on time or meet deadlines.

Good Communication Skills

Maintain good communication with your clients and have clear boundaries about what your job entails and how much time each task takes.

Good communication is essential to a healthy business relationship. You must communicate regularly with your clients and keep them informed about what you are doing, how much time each task takes, and when they can expect the finished product. It will help both of you understand where one ends and another begins. For example: “I’ll write an article on this topic for $100.” Or “I’m going to write an article on this topic and send it in two weeks.” Or even better: “I’m going to write an article on this topic, but it won’t be ready until next week.”

Setting these goals will help maintain good communication between you and your client while allowing some flexibility in knowing exactly when you will do everything.

When working remotely, it’s essential not only that you have reliable internet access but also that the connection doesn’t drop out unexpectedly or slow down too much when downloading large files like images or documents.

Having a stable and fast internet connection is essential because if your internet connection is slow and unstable, you’ll be more likely to lose work time and waste energy dealing with constant issues related to poor-quality relationships.

A reliable Internet Service Provider (ISP) can reduce this risk, especially if it offers free trials or equipment rental options for new customers who want to test its services before committing to long-term contracts.

Freelancing can be rewarding if you know how to manage your time well and keep yourself motivated.

Good time management skills are essential for freelancers because you mustn’t overcommit yourself and take on too much work at once. You must also ensure the clients are pleased with their tasks, as these soft skills are vital in this field.

Finally, good self-motivation will help you stay productive throughout your freelancing career. It means ensuring that your work is up to par before submitting it for review by an employer or client! 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.

Check for Hidden Fees

One of the most important things you can do is know your fees for each investment option. It can hide prices in several places, so it’s essential to look for them.

There are two main types of fees:

Transaction costs (also called brokerage or commission fees): These are charged every time an order is placed. Most brokers charge this fee based on the amount of money involved in an investment transaction. For example, if you invest $100 with a 1% transaction cost and sell it at half its value within one year, your broker will deduct 0.5% from your profits before sending them to you. This means less money in your pocket!

Transaction costs can add up over time and eat away at your returns; they’re incredibly costly compared to other options, such as low-cost index funds (which are passively managed).

Management fees apply only to actively managed funds that require research by professional managers who seek out investments like stocks and bonds. The goal here is to outperform benchmarks like indexes using information not readily available to individual investors or even institutional investors like pension funds who rely heavily on third parties for advice about which stocks & bonds make sense for them.

Keep a Written Record of Your Strategy

The vital thing you should do is write down your investment strategy. It would help if you also wrote down your goals, risk tolerance, and time horizon. Then, ensure that you have an asset allocation in mind for each type of investment (stocks and bonds). Once you’ve done that, look at what kinds of funds or exchange-traded funds (ETFs) best fit into each bucket for their purpose—growth or income, domestic or international, growth at all costs, or a balanced approach. Finally, tracking how much money has been invested in each one is essential to know where all your money is going at any given time.

Diversify

Diversification is a crucial part of investing. It can help reduce risk and allow you to invest in several asset classes, countries, and sectors.

There are three main types of diversification:

• Asset class diversification – investing in stocks, bonds, or cash.
• Geographic location or country diversification – investing outside your home country by buying international shares or bonds from overseas companies listed on an overseas stock exchange or bond market.
• Sector/industry diversification – this type of investment focuses on specific sectors such as healthcare, technology, or energy that tend to perform better than the overall stock market over long periods because they experience less volatility than other investments such as real estate or gold prices.

Don’t Set Your Expectations Too High

When investing, you shouldn’t expect to make a lot of money in a short period. This is especially true if you’re starting with a small amount of capital. It will take time for the stock market and its underlying companies to grow their businesses and increase earnings before your portfolio can start producing returns comparable to those available from other assets (like bonds or real estate).

Instead, think long-term when investing your money—and be patient! Don’t expect to see a return on your investment immediately—or even after six months. The key takeaway here is that it may take years before investments generate income that meets all or even some of your financial needs, so don’t quit working just because it takes longer than expected for stocks, bonds, etc.

One Common Mistake is Buying and Selling Based on the Headlines

Investors often buy stocks or ETFs in the news and ignore others that may be better accepted. It’s human nature to want to be part of the crowd, so if a stock is in the news or a company, you’re invested in us having a good quarter or year, you might feel like it’s time to jump back into the market.

However, buying and selling based on how much money you can make can cost you money over time (and even ruin your chances of long-term success). Instead of letting your emotions guide your investment decisions, consider these two essential tips:

• Buy low and sell high.
• Don’t try to outsmart everyone else.

Streamlining Your Investment Portfolio Can Help You Reach Your Goals Faster

It can reduce the number of transactions you make, reducing your fees. It can help you avoid making emotional decisions and save time by not having to re-read every single document in your account when trying to figure out where a particular transaction occurred. Finally, it can help you avoid making mistakes—which are costly!

This year, build a portfolio personalized for your financial goals. That way, your money can work for you instead of the other way around. 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.

There’s a universal myth that no debt is good debt. In today’s world, whenever we consider owing money, it is always reflected in the negative limelight. For businesses, the reality of debt is far less ominous. While a company’s high finance rate may not be desirable in all cases, not all borrowing is necessarily a bad thing and can still be beneficial.

Fresh entrepreneurs often get confused while deciding how to finance their operations and grow their businesses. Should they borrow money or seek external investors? The decision includes many factors, such as the company’s last debt payment, the predictability of the business’s cash flow, and how the partners make many corporations.

Financial status is a delicate aspect of any business. It is utterly understandable because it has been drilled into the heads of entrepreneurs that there is nothing better than good debt. When most companies consider owing lean, they usually worry about the mortgages and the national deficit. However, that isn’t always the truth. When choosing between borrowing money and losing equity, getting a loan and giving up your valuable equity is always beneficial.

The following five pointers will help them utilize the debt appropriately rather than getting weighed down.

1. Debt is usually inexpensive

It is one of the most noteworthy points, among others. When raising funds for a company, giving up equity is always more expensive in the long run than borrowing a loan. For instance, starting your business will require equipment and inventory to make payroll. Investors will assist you with the capital, but you’ll compromise the future profits to fulfill a short to mid-term need. With debt, you suffer interest costs, but that has a cap and is temporary. Once you pay it back, your equity remains unimpaired.

2. Debt provides you with tax benefits

Many entrepreneurs are unaware of the benefits of borrowing. The interest rate cost lessens your taxable profit and diminishes your tax expense. The smart interest you’re paying is lesser than the nominal interest because of this benefit.

The lower cost of capital should be incorporated when determining the return from taking on debt. Leveraged buyout companies have utilized this strategy for decades to rank in the row. Startups can also use it to enhance their company’s finances.

Furthermore, it sets borrowing aside from selling equity as a way to finance your business growth. If you get cash from the equity, you’ll pay off the equity holder with money from your business with no advantages at all, whereas debt grants you the benefit of lowered tax.

3. Debt encourages discipline

It is a familiar knowledge among exclusive equity firms, but it is something that small enterprises generally overlook. Debt brings a discipline to investing that can help your business, especially in its growing years. While you won’t get a loan to increase your discipline, you can still consider it a positive effect of taking on debt.

4. Doesn’t require other’s perspectives

There is no need to seek the advice of the shareholders in decision-making. Debt is beneficial if you want to keep all of your ownership to yourself. In case of giving up on equity, the shareholder’s vote will become mandatory in making decisions for the company’s well-being, including investment and expenses.

5. Ownership remains intact

When borrowing a loan, the lender has no authority to claim anything. Ownership remains protected, and all the accounting decisions happen by the owners/entrepreneurs. Equity charges a portion of your business forever. 

There are numerous situations when it doesn’t feel right to go into debt. However, if you choose the right way, it isn’t anything to fear. On the contrary, debt can be utilized as a strategic tool for business growth and is often an inexpensive option for financing compared to other substitutes. Debt is reversible, but there’s no turning back once the equity is lost. 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.

You use social media platforms to stay in touch with people daily, but have you thought about using them for business? If not, then now is the time to explore ways you can use social media for business promotion. There is no denying the usefulness of social media for business. Nearly all notable companies worldwide utilize social media marketing for business promotion. For many, social media marketing is the cornerstone of their marketing campaigns.

Others were late to the party, and the following suit started late. Despite that, using social media to promote your products, services, and businesses worldwide makes sense. It helps when you know ways to use this form of promotion properly. Before you tap into this concept, be aware of the dos and don’ts of social media marketing.

Why Use Social Media for Promotion?

Think about it: would you forego a platform that nearly 70% of the world’s population uses daily for business promotion and interaction? Certainly not! On the contrary, you would do everything to capitalize on making the most of this platform. However, before you decide to use it for business promotion, there are things to consider. The following will help you maintain focus and capitalize when using social media.

The Do’s

Nowadays, finding and hiring a proficient social media marketing team for business promotion is necessary. They do this by placing ads in job portals, newspapers, and many other ways. Advertising for hiring is the best thing to do, as you will find good profiles that will do justice to your selection. Keep in mind that your business’s social media account will create an early impression. It is necessary to fill in all the details so your customers have no difficulty finding your account.

Segregate Business and Personal Accounts

Some social media executives combine personal and business accounts, thinking they will receive more ROI, which is rarely the case. Segregating business and personal accounts is necessary, so discuss this with your social media team. Maintain consistency when sharing your business content so your customers and readers know which account to follow. It also helps your friends and family avoid spam, as they know which account to follow for your updates.

Make Regular Posts

You must decide how often to engage with your community using social media posts. The frequency of posts should depend on the business and industry you operate in. To ensure community engagement and interest, make at least two thoughtful posts weekly. Posting inconsistently on social media will result in a loss of community and readers.

Share Thoughtful Content

Every post you share from a business account becomes a representation of your business. Put a lot of thought into every post you make and share. It will give you many readers to discuss your business the way you want. Take pride and own the content you share after putting an immense amount of time and effort into crafting a company result.

Don’ts

Posting too often on your business profile can be as harmful as not posting at all. Too many posts can lose your reader’s interest, and they’ll soon unfollow the page. Continuing this trend for a month or two makes you lose many of your business page followers. Use the following criteria for engaging with your followers and keep them interested:

• Pinterest – 10 pins per day
• Twitter – 15 tweets per day
• LinkedIn – 1 post per day
• Facebook – 1 post per day

Falling for Numbers

One way of knowing where your page stands is through the numbers. Business page owners would lose sleep over numbers and eagerly wait to have more followers on the page. It will not work as media platforms are now separating real accounts from those found to be spam. Getting likes and comments from such accounts is redundant, as these will not work. 

Engagement Bait

Engagement baits were once a great tactic to boost your page’s engagement, but this is no longer the case. Social media platforms no longer allow this type of engagement. Many clients complained about pages using spamming and baits to lure readers into becoming followers, to which social media platforms responded. Such posts will not be demoted, and page owners will receive a warning about this. If the page continues to bait, the platform will blacklist the page.

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.

PPC, or Pay-per-Click advertising, is one of the most effective digital marketing strategies that generates instant results for marketers. However, the results of PPC campaigns depend highly on the nature of the client, as everyone is different. PPC works by establishing paid ads on Google search results pages that users can engage with. Every click made has a price based on bids before starting the campaign that the advertiser pays.

PPC brings a targeted audience, but it also acts as a scalable method to gain a relevant audience. Achieving successful traffic from PPC means optimizing the campaigns according to trends and avoiding common mistakes.

Here, we will list a few tips to help make your PPC advertising campaign better.

Tips to Enhance PPC Campaign

• Focus on high-performing keywords

Using industry-related keywords is the heart and soul of digital marketing and is also essential in PPC. Depending on your goals, you can identify the keywords that work best for your campaigns. Consider click-through rate and conversions as the defining factor of PPC due to the selection of keywords.

If you want your PPC campaign to perform at its best and generate results, you must ensure that the keywords used are relevant. Focus on high-performing keywords through researching and initiating your campaign to get the best ROI.

• Define your goal

Defining your goal in a PPC campaign is essential to gathering relevant results. Everything needs a goal, and so does PPC advertising. You cannot optimize your PPC campaigns without having a definite and measurable end goal. Campaign goals are the foundations of a successful advertising strategy and act as a roadmap before initiating PPC.

It is essential to ensure that your goals have measurable metrics to identify the achievement level quickly. After defining the plans, you have better chances to improve your campaign accordingly and see if you have reached the desired level.

• Display ads at the right time

The essence of a successful PPC advertising campaign is to show the ads to the right customer at the right time. Picking the right time and schedule comes down to your knowledge of your target audience.

You must conduct market research and compare the results with the customer profile. You must create an advertisement scheduled for display. Your starting cost may increase as you experiment with different time durations. Once you have managed your campaign, displaying the ads at the right time is easy for maximum reach.

• Choose the bid strategy

Bid strategy is an element that will lay the groundwork for your campaigns and, therefore, must be chosen wisely. Start your bid strategy with goals in mind and the desire to boost brand visibility. You can select conversion-based, impression-centric, view-based, or click-based bidding strategies.

Each strategy has different requirements and result-generation metrics that you must select according to your goals. Remember that if the bid strategy plans are unclear, they will influence the overall campaign.

• Always have mobile optimization

Almost half the internet population has smartphones that they use to stay online. This prospect allows you to target a massive clientele for your business. Similar to SEO practices, your PPC campaigns also need mobile optimization.

Google AdWords allows you to preview your campaigns and review how they will look to your clients. Check for its module display and optimize it for your smartphone users to easily engage with your campaign.

• Target the location carefully

Selection of target location is just as important as choosing the right keywords. What is the point of running a campaign in a region where your targeted audience does not exist? Google AdWords allows you to select your target location for better engagement.

For instance, if you are a local small business owner, your target is your locality. On the other hand, you must target worldwide if you offer services or products for a broader range of customers. It all depends on your business goals and the targeted customer base.

Final Word

Running a successful PPC campaign depends on combining keywords, strategies, and bidding techniques. In short, a carefully designed plan will help make the most out of a campaign. Take guidance from the abovementioned points to ensure you get the best ROI from the campaign you run. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud 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.