Author: Complete Controller

Savings money is something every financially responsible adult should do. However, according to recent research, around 40% of people in the US don’t have a backup to cover an emergency of $400, and nearly 39% have an emergency savings of $1,000.

These statistics allow you to learn how you can save your overall finances. However, having proper personal finances seems impossible for some people. People always wish to have money-savings inspiration or additional assistance. It is beyond your finance’s security level or the amount of money you save.

Automating your savings plan is one of the best savings strategies. You will need to make your savings process a consistent priority and track your savings growth level. The majority of people spend eight years starting their savings plan, and many have empty savings accounts. Here are the steps to help you automate your savings.

Savings is much more complicated than it seems

The world would be different if we all had money saved. But unfortunately, for most, savings is just an idealization of something in the future. With day-to-day expenses, economic crises, and lack of administration, savings are the last priority. And there is the main problem. Many of us know that we should not save what is left over after spending but spend what is left over after savings.

You should not save what is left over after spending but spend what is left over after savings.

But very few people carry it out because manually, we are challenging our discipline every month. The problem is that our willpower can be easily lost when we see an offer, when we pass the cups, when we fall into social pressure, or entirely when we want to satisfy a desire instead of waiting for it later immediately.

The problem is that our willpower can easily be lost.

The easiest way to save is, automatically

Fortunately, we know that an effective way to achieve your goals is to stop trusting you and designing systems to achieve what you want. In the world of personal finance, this is called “automating your savings” or “recurring savings,” and it is increasingly simple to do. The magic is that once you configure the system (be it your bank’s app, through a web portal, or directly in a branch), you will not have to try to save.

The savings will be automatic. The only effort that must be made will be to live with a little less, but the human being knows how to adapt, and in a short time, you will not even notice that you lack what you spend on savings. You will see that it is possible to be happy with less, you will get used to new life habits, and you can gradually increase your savings.

The savings will be automatic. The only effort that must be made will be to live with a little less, but the human being knows how to adapt, and in a short time, you will not even notice that you lack what you spend on savings.

Fortunately, in Dear Money, we have many articles on savings, and we publish ideas daily on our Facebook and Instagram. So, there are no excuses to learn to spend a little less.

Other ways to automate your savings

• Use tools for automatic savings

The market offered modern ways to save money by introducing the latest versions of money-savings apps and tools in the past. For example, round-up apps automatically save spare variations by rounding up the daily purchase amount. Your savings account will automatically have a 75% amount on purchase of 5.25 dollars with this app.

Everyone has financial savings goals, and they need solutions, both short- and long-term. Several reliable automated savings apps can help you find savings solutions and types of accounts. You can save $5.60 by using fintech tools such as Stash and Acorns.

• Check your savings progress

Don’t forget to track your paid-off debt, as it will keep your savings process organized. For this, you can use reliable tools to track your savings progress without checking your balances. It is better to use personalized savings tools such as a spreadsheet. Suppose you need to note dates, pending contributions, and savings, set up Google sheet or Excel file columns. You will add the saved amount to the savings column from the pending column.

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

The idea that workers should be compensated for work-related injuries is not a new concept. Texas’ first Worker’s Compensation law is more than 100 years old. However, you should know that each state has its laws. There are five important things to know about workers’ compensation laws in Texas.

Differences in workers’ compensation laws in Texas:

1. Employers do not have to sign up for workers’ compensation. Texas is one of two states in the country where employers are not required to have their company be part of the workers’ compensation law. This means that employers can choose to buy private insurance policies to cover incidents in the workplace or choose not to have any type of insurance coverage at all. If your employer does not join workers’ compensation and you are injured on the job, to receive any compensation for your injuries and lost wages, you must hire a work injury lawyer with experience in the laws of Texas to file a personal injury lawsuit against your employer.
2. You have a time limit to file a claim, and that deadline varies by state. In Texas, you have 30 days from the date of the injury or from the first day you knew your injury was related to the work you report to your employer.
3. You do not have to be a citizen of the United States to receive coverage. If your employer is registered to be part of workers’ compensation, you cannot be denied payment to an injured worker due to a lack of legal documents to be in the United States.
4. Texas workers’ compensation laws do not protect offshore workers and federal employees. However, they are protected under federal law. These laws have different requirements and procedures for obtaining benefits. Most injured employees are not familiar with the complexities of the state and federal workplace injury law. Therefore, if you are injured at work, you should speak with an experienced Texas personal injury lawyer about what type of coverage specifically applies to your claim and what procedures to follow when filing a claim.
5. Not all Texas doctors are on the approved list to handle workers’ compensation cases. Starting in 2001, doctors who want to treat injured workers must register to do so. Doctors have certain protocols to follow if they know or suspect an injury that is related to work, so it is important to make sure that it is an authorized doctor who is treating you.

Benefits that workers in the United States have the right to

If a worker has suffered an accident, what are the benefits that this labor compensation law offers? 

If you have been injured in carrying out your work, the law covers all types of accidents, whether you are responsible or not. Any type of discomfort or illness caused by the work carried out is also included. 

The worker must inform the company or employer about it at the time of the accident since only then can the benefits of this compensation be accessed.

Every state has different variations on this law. However, all cover 3 important statutes: 

– The total coverage of expenses caused by the accident 

– Incapacity at work 

– Monetary compensation for long-term damage.

Medical expenses: If you have suffered or have problems related to your current job, the company must pay full medical and surgical services provided by a doctor or health sector center. Likewise, everything related to medicines, hospital treatments, rehabilitation, psychological consultations, orthopedic devices, etc., is covered in this expense. The medical diagnosis must be made in the same state where the accident occurred since each state has its labor compensation law.

Work incapacity: The company is obliged to compensate lost income if it is determined that due to the seriousness of the accident, the employee is partially or disabled and cannot perform his daily tasks receiving partial remuneration of his salary. The period that is assigned may vary and depends entirely on the medical review. After a certain time, the company may request a review of the current diagnosis of the disabled worker.

Long-term compensation: When the worker has suffered an accident involving an injury or permanent discomfort, the company is obliged to give him economic compensation at the end of the treatment he has received. The amount depends on the severity and damage suffered by the person in the accident.

There are several variations on workers’ compensation and how it applies to each person and their case, so it is impossible to guarantee specific results or amounts on these obligations.

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

Digital Transformation helps a company keep pace with emerging demands of customers, retaining them for future business interactions. In addition, it allows organizations to remain competitive in an economic environment that constantly changes as technology evolves. To this end, digital transformation becomes necessary for any company since it is essential to know the customer and their behaviors.

Key technologies of transformation

Technology is key if you want to transform your business, so here are the most common technologies:

• Cloud Computing: Gives the organization faster access to software, new features, updates, and data storage allowing a company to be agile and transform.
• Information technology: This allows a company to focus on investing talent and money for research and development in customized solutions that support its requirements and the processes that differentiate them in the market.
• Mobile platforms: They allow work to be done wherever and whenever.
• Machine learning and artificial intelligence technologies: Provide organizations with knowledge to make more precise sales, marketing, and product development decisions.

Other technologies that drive business transformation are blockchain, augmented reality and virtual reality, social networks, and the internet of things (IoT).

Digital competencies for digital transformation

There is a series of competencies that are essential to achieve precise digital transformation.  We do not need to employ all of them, but we must take them into account. For example, when you access a website, it must be easy to manage. However, there are endless competencies that we must know; for example, in the field of Human Resources, it is a challenge to find this type of profile:

• eCommerce
• Digital Marketing
• IOT
• User Xperience
• Data Science
• People Analytics
• Software Development
• Cloud & DevOps
• Near Client Teams
• Virtual Reality

Generations of clients

The way of communicating and buying is different according to age, so it is necessary to know the differences between these four current generations:

• Baby boomers: Those who were born between 1946 and 1964. This generation experienced the advent of the TV.  They are thoughtful, organized, structured, and do not typically buy the newest generation of technology when it hits the market.
• Generation X: Those who were born between 1965 and 1979. They experienced and used the first computers. They are reflective but with a mentality that is more focused on achievements and goals.
• Millennials or Generation Y: Those who were born between 1980 and 1999. This generation is adept to new technologies. They were the first Facebook users and make decisions immediately, unlike the previous two generations that are more reflective.
• Generation Z: Born since 2000. This is the generation of immediacy to the point that new technologies often lose their attention since they are always trying new things.

The change in behavior between generations causes omnichannel since the relationship between companies and customers has changed radically because of the development of new technologies.

In this context arises the need to create new, personalized strategies to achieve user loyalty. In this sense, we must take into account the importance of the different communication channels. Therefore, we cannot forget about offline.

• We must use the offline to be at the service of online.
• It is a mistake to think that the physical store is obsolete.
• It is more alive than ever and also powered with the online.

For example, let us consider a butcher shop:

The first challenge is to look for tools for digitization:

• CRM
• Media
• Marketing of offers and promotions
• Segmentation of your customers
• ATT Online
• Big data for customer purchase behavior
• SEO and SEM tool
• Advertising push
• Opinions of its customers, valuing the product and service.
• Customer forum

The second challenge is that the tool is economical:

If a butcher has a base of 200 clients and his goal is to serve 2000 clients, the scalability index is x 10. His budget is $1,000, so he needs to find a tool within this budget.

The third challenge is that the tool is easy to use

In this case, the answer to the practical exercise is WhatsApp, and the plan of action of the butcher would be the following:

• Advertise and comment on your WhatsApp group to your clients.
• Take note of their numbers and their first and last names.
• Every morning, take a picture of the genre you brought.
• Publish your prices with the photo in the WhatsApp.
• Take note of orders.
• Pick up in-store or at home.
• Carry out offers campaigns on request.
• TouchPoint, each ticket enters a raffle.
• Generate quality content in the WhatsApp explaining the genre and types of cut.
• Encourage purchases by disclosing the amounts that remain.
• The loyalty of clients that all feel part of the group.
• Campaigns are directed to the clients since it knows what each one buys.
• Cross-Selling with customized products.
• Impact your customers by making offers if your products have not been sold.

Goals achieved:

• Sales have multiplied x10.
• The loyalty of new customers.
• Your customers can interact with the butcher shop from anywhere and place your order.
• More communication channels with your customers.
• It has the leads of the clients.
• You can contact your customers in real-time even if you are not in the store.
• Know the buying behavior of your customers individually.
• Now you have a home CRM.
• It has a module of recommendations.
• It has quality content for its customers.
• The customers themselves stimulate the purchases of others in the chats.

 

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

New trends are rolled out in marketing every year as technology and innovation growth and the audiences for products and services change. Those in the marketing industry need to know the trends for the current year and the next year. These marketing professionals also have to keep their fingers on the pulse of the here and now. Here are six marketing trends currently dominating the marketing industry.

Conversational marketing

Across the digital marketing spectrum, conversational marketing may become an industry standard in the current year and be here to stay for years to come. In real-time, such marketing is the best way to attract clients rather than wait for a reply from the targeted audience. You can also experience all this in the live chat support and phone as experts predict conventional marketing will be AI-powered this year.

Advertisement over-the-top (OTT)

According to the major brands, hyper-targeting and integrating associated TV into digital techniques can replace traditional ad purchases. You will have much more return on investment due to traditional TV versus OTT campaign attribution. That’s why experts consider this year the start of a dramatic shift in using this marketing strategy.

Marketing via voice search

Smart speakers or digital home assistance are becoming more and more commonplace. The market is flooded with voice search devices such as Apple’s Homepod, Alexa, Amazon, Echo, Google Dot, etc. These smart devices have made searching far easier and hands-free.

In 2016, around 40% of adults used voice search on a daily average. With time, this technology usage is increasing fast over time and is becoming more intuitive and reliable.  Various brands are increasing their sales by incorporating voice search.

On-go searching ability and voice search have made online search queries have become more specific to a great extent. That’s why people consider targeting long-tail queries as the tip of the iceberg. Natural-language searching for ages as Google has been making its algorithm for the latest search engine page result’s report. Keep an eye on the Hummingbird update and Rankbin announcement to get clues on Google’s work.

Customized marketing

In customized marketing, marketers provide an individualized user experience by targeting each web user or email list subscribers. According to the research of the Salesforce report, around 96% of customers prefer customized marketing relationships for branding. According to Broadridge, Around 80% of people shop more for a product due to customized service or experience. Digitalization transforms marketing trends to boost businesses.

All consumers don’t hesitate to receive a customized experience and submitting their personalized data in return as it increases their privacy and security concerns. Consumer data sharing helps them in gaining customized experience and benefits, including the younger generation.

Various online platforms use customized marketing campaigns such as Netflix, Amazon, Pinterest without mentioning Facebook and Google. In this way, they identify what their clients like or dislike and their search history. Also, customers get suggestions for similar products that you even think to purchase.

Influencer and video marketing

When people talk about video marketing, the first thinking comes in their mind is about YouTube. But multiple social media platforms use video marketing like Instagram, Facebook, LinkedIn, and Snapchat. Keep your videos on such channels precise, concise, and short.

People love to share, like, and comment on such videos on other social media websites. If your platform’s influencer is famous and their hats in the ring, audience interest in your videos will be more substantial. Industry leaders help your brand name in making progress fast. If you want to know your targeted audience, find their location, and get to work.

Conclusion

This year, there is an excessive demand for information and items, including AI-powered customization, new content kinds, and advanced segmentation. There are other latest technologies that marketers are going to incorporate into their businesses.

In the marketing sector, new technological advances have remarkable potential. Only you must know the correct way to use them for your benefit. There is fierce competition across your industry, as many businesses are fighting. You will need to learn the latest techniques to win the competition and make your business more competitive.

Revise your current marketing strategy and change it as per the requirement of your audience if your branding relies on video and customized marketing. Keep an eye on the latest digital marketing trends to know how to keep your business ahead of the game.

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

Workplace burnout and stress are modern ailments that many people face despite having support systems and positive work environments. With the fast pace of modern life and the increasing demand for task efficiency and a healthy work-life balance, it can be a real struggle for people to keep their heads above water at times.

Burnout is defined “as a long-term consequence of adverse working conditions characterized by the simultaneous experience of the symptoms of exhaustion and disengagement from one’s job.” It is especially important to deal with workplace burnout as early as possible if one works in caregiving or other intense medical professions, such as psychiatry. Here are four ways to avoid workplace burnout and stress.

Identify the Sources of Burnout or Stress

Burnout may result from unrelenting stress and cause individuals to be disengaged with their work and deplete motivation, leading to depression. On the other hand, stress can lead to hypertension, emotional distress, and, if left untreated for longer periods, detrimental to a person’s confidence, contentment, and even physical well-being.

Identifying stress can be challenging. It is an abnormal amount of pressure exerted on you that can trigger a response from your body. An example of something that can trigger this is perhaps an increased workload, inability to meet deadline expectations, or simply having a perfectionist attitude about your work.

Take a Break from the Workplace

It’s okay to be out of your comfort zone every once in a while and absolutely to feel some levels of stress sometimes, but when it becomes consistent and is affecting you physically, there might be signs of serious trouble.  Physical signs of stress include having chest pain, nausea, muscle tension, excessive breathing, loss of appetite, breathing problems, and fatigue.

These physical issues can lead to psychological and emotional issues, affecting both your personal and professional life. You must detach yourself from work from time to time and have an honest conversation with yourself. If you feel any of these symptoms, regardless of their severity, you should seek professional help and reach out to friends and family to help heal.

Practice Self-Care

The rapid development of technology has helped create awareness about mental health and led to new approaches to fighting burnout and stress. These approaches put the responsibility squarely on the individual and encourage them to be more mindful of their own resources and environment and take care of themselves. One of the core strategies to fight and prevent stress is self-care.

Self-care varies from person to person and can be as simple as having a cup of your favorite herbal tea to something more structured such as joining a weekly yoga or Pilates class.

The purpose of self-care is to mitigate the effects of workplace negativity, exhaustion, and stress to carve out a niche of time where one prioritizes oneself, as put forward by a November 2020 VeryWellMind article, ‘Why self-care can help you manage Stress.’

One should treat themselves to spa-like experiences to jog their senses and give them relief from a high-stress environment. All of these strategies can come together to allow individuals some time to self-reflect in a comfortable situation. These minor activities can go a long way in mitigating the damaging effects of workplace burnout and stress in the long run.

Address Workplace Issues and the Environment

It’s also important to address the issues you face at work and confront your problems at the source. If it’s an individual causing the stress, whether it be your supervisor or a colleague, then try approaching them and having an open conversation where you voice your concerns or issues.

Admitting you have problems is not a sign of weakness. Having an open and healthy conversation with members of your company can go a long way toward helping you manage your stress and developing your communication and soft skills.

If a particular assignment or client affects your work experience, try raising your concerns with upper management and letting them know how you feel. See if there is any way to help resolve your issues without having a confrontation.

Your workplace directly impacts your mental and physical health. It would help if you were situated in an environment where you can have an open relationship with your colleagues and supervisors and are treated with dignity and respect.

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

The publishing world has massively changed over the last decade since companies will allow any author to self-publish for free or for a nominal fee. This ability to self-publish offers authors a unique opportunity to be published and make a career of writing what they want to write.

Self-publishing isn’t putting traditional publishing companies out of business, but it gives them a run for their money. If you are a great writer and social media savvy, you can get yourself published in a short time.

Many authors looking to publish independently are concerned with the costs. If you publish, edit, format, and design the book cover yourself. You can do it for free on platforms like Amazon or other published on-demand sites.

The cost of self-publishing a book depends on a few things:

• How much of the publishing process you are going to do yourself
• The length of the book and content
• The prerequisites of the publishing company you are using

Most writers can count on spending between $2,000 – $4,000 on self-publishing their book, including marketing services, cover design, formatting, and editing.  This cost will be cut significantly if you do all of these services yourself. However, it is suggested that you should at least hire an outside editor for the best quality.

Therefore, if you only want to get your book out there, you can always format it for free and make it available within 72 hours on Amazon, Kindle self-publishing sites, or other publish-on-demand sites. However, if you want to compete with traditionally published books, you will need to pay for editing, marketing, and design.

Editing

It would be best if you got a few different kinds of technical editing done before publishing, including proofreading, developmental editing, and copy editing. You should have an editorial assessment and work out to make critical changes to publish the best product possible.

Book Cover Design

Unless you are an artist or have skills as a graphic designer, it is suggested that you hire a professional book cover designer. Though there is the saying, “Never judge a book by its cover,” most people will explore a book further for potential purchase because of the book cover design.

The cost of having a professional cover designed can range widely with the cost depending upon the designer’s skill level.

Formatting

Depending on where you are publishing, you will need to format the book for a book and an eBook. Each format is different depending on where you are publishing the book. You can format the book yourself if you know how to do it properly.

Hiring a professional to format your book is a great idea because it can be tedious and requires knowledge and skills, so it looks right when the book is published. While formatting can be tricky, there are many videos online that show how to do it.

Marketing

One of the major disadvantages to self-publishing instead of going through a traditional publisher is that the publisher will heavily market your book. They will also set up any book signings or other promotional events and handle all websites and social media associated with you or the book.

Other Costs

Depending on your chosen path, there can be costs associated with the delivery and converting your book to an audiobook. There can also be fees that you pay to use a website to publish for you, such as a flat fee or a percentage of your royalties.

In some cases, an author will hire a ghostwriter to help them develop, edit, and publish their book. Some ghostwriters will charge by the hour, while others will charge by the project. While it can be expensive to hire a ghostwriter, it can also help you get your ideas out quickly and professionally if you aren’t a strong writer.

Conclusion

The more you invest in the development and publishing of your book, the better it will do in the market. Do the research and plan what you will do yourself and what you will hire another person to do for you in the process.

The cost to self-publish can cost anywhere between $0 to $20,000, depending on the skill level of those involved in the publishing process. If you are contemplating self-publishing, you need first to assess your budget then analyze how much work you will do yourself in the publishing process.

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

One of the biggest obstacles a startup business has to overcome is managing its budget and keeping track of its expenses. Most startup businesses struggle to identify what their spending plans should look like and how to utilize their assets.

Many startup business owners hesitate to invest long-term in favor of short-term solutions and often try and experiment to find the perfect balance between the lines of budget-friendly and high-quality products and services.

There are several steps a startup business owner can take to help with their expense management and how to invest their money in ways that can ensure profitable returns.  

Marketing to Your Target Audience

Business owners must identify their target consumer base and make sure their message reaches them concisely and appealingly. Many marketing firms and companies provide services and create marketing campaigns that can help you reach your target audience. Still, more often than not, they use a generic business plan instead of implementing a systemic outreach program tailored to your target audience.

Instead of outsourcing it, try building a team within your company to try and identify consumer trends and interests. Ensure your messaging and branding are relatable to your customers and provide a clear and concise message about how your service and product can help them with what they’re looking for.

Maintaining a Presence and Interacting

Create an online presence and do your research on how best to grow your company online. Having official pages and channels on social media shows that your business is up to date with the times and builds a platform through which customers can interact and leave reviews and comments. Companies have realized that one of the best ways to maintain customer trust is by having positive reviews on Yelp, Amazon, and Google.

They have a support staff dedicated to resolving customer issues and complaints and are tasked with maintaining their positive review scores online. Although a small business can’t compete on that scale of spending, you should at least take the first step by listing your business with Google so that customers can find your business online by searching with your keywords.

Every Penny Counts

It’s easy to overlook everyday expenses when creating a budget for the company. Many first-time business owners tend to ignore it as they focus on major expenses like equipment and personnel. Ignoring everyday expenses is a massive mistake, in my opinion, as the everyday expenses of office supplies such as stationery items and coffee and snacks can burn a hole through your wallet.

While it may seem insignificant the first few days, it can rapidly catch up and eat through your budget and leave you in a mess as you try and account for all the expenses made. Keep a stipend for much that should be spent on office supplies and record all transactions made in a ledger.

It is not suggested that you spend money frugally. Rather it is recommended that you take all expenses into account and decide where best to invest them. For example, do you need to have gourmet coffee for work every day or a cabinet full of organic snacks? Maybe stick to store-bought coffee beans and some regular chips and cookies if you must, and perhaps the money saved there could be spent somewhere else.

Managing Your Employees

Employees are indeed a company’s most valuable resource, and they are essential for any business to thrive and survive. A startup business cannot afford the same luxuries as other firms in the same industry that are already established and have to be careful when recruiting employees.

It’s a tough pill to swallow, but you must come to terms with the fact that you probably will not afford the same perks and benefits that other companies provide. Instead of gathering a massive workforce, it is suggested that you try and look extensively for the ideal candidate that shares your companies views and values. This candidate would be willing to help the company grow and provide the template for all future prospective employees to follow.

Conclusion

Growing your business will always be a challenge, and regardless of the budget, you must keep an account of the money that flows through the firm. As a startup, you’ll be playing against the odds and will need every advantage you can get. It’ll require struggle and plenty of research, but hopefully, this will help build a better business environment and work culture.

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

Small businesses are responsible for two out of every three new jobs in the more than 28 million businesses that exist in the U.S. This number means that small businesses employ more than half of the workforce in the private sector. Because of this, small businesses should be embraced by lending institutions. They should also be given great interest rates and encouraged to grow.

Sadly, this is not always the case. Therefore, small business owners need to look for ways to get great deals and save on business loans and understand the terms and true costs of their loans to thrive. The great news is, if you are starting a new business or looking for capital to grow your existing business, there are ways to avoid the pitfalls of financing your business needs. Here are five ways you can avoid overpaying for a loan.

Know the APR (Annual Percentage Rate) and Fees

Any reputable lending institution will not hide fees or interest rates. If the institution is not sharing the APR or fees, you should walk away. You should know the service charges, origination fees, application fees, and annual costs upfront. This awareness is to easily compare the terms with other loans you consider making the best decision for you and your business.

A quick way to compare loan terms is through the annual percentage rate because this will be a common denominator across the board on all the loans you are considering. Therefore, if any company or institution is reluctant to share the APR, you can instantly eliminate them as a contender for your business. You can also take them out of the running immediately if they have a higher APR than other loans you are considering.

Avoid Prepayment Penalties

Some lending institutions will have a fixed repayment amount and not benefit from the loan’s early repayment. There is even a penalty for early repayment in some cases because they want to ensure they get the maximum profit from your loan.

When inquiring about the terms, ensure you are clear on the repayment amount and if you can repay the loan early for savings. If the institution won’t share the information or does not offer a benefit, you should avoid getting a loan with them.

Avoid Double-Dipping

Some lending institutions will charge you fees and interest rates upfront then charge again at each payment. This overcharge is double-dipping on fees. In most states, this is illegal, or grounds for a lawsuit, so many institutions discontinued this practice; however, they can’t lay out the fees for you or see any indication that the company is double-dipping on fees.

Avoid Stacking

Stacking is the practice of a lending institution convincing you to add a loan to a current loan you have with another institution. Stacking can become an issue if you do this and can seriously mess with your business cash flow. If you need additional funds, try refinancing your current loan with the lending institution you already have.

Sometimes, stacking occurs when the business owner needs more funds and gets additional loans from other institutions. Stacking can lead to loans overwhelming your profits and could put you out of business. If you can’t refinance your current loan, it is not suggested you get a loan from another institution.

Avoid Peer Pressure

Before you start searching for a loan, work with your professional accountant to figure out exactly how much capital you need to accomplish the financial needs you have for your business. Do not consult a lender before you have had this discussion, and when you do work with a lender, do not allow them to pressure you into more than what you need. Know the terms you are willing to accept and don’t accept anything outside of that.

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

The world is just starting to recover from the last financial crisis as the issue of the next shock is already on the table of economists. At Deutsche Bank, analysts have devoted a long, not very optimistic note on the subject.

They recall that crises return regularly. Especially since the exponential growth of finance, the internationalization of banks, the abandonment of the gold standard… the world economy has become more and more unstable, increasing in passing the frequency and the magnitude of the crises.

Despite the regulation introduced after 2008, supposed to make the world safer, and although the different economies show signs of solid growth, “it would be a huge act of faith to say that crises will no longer be a regular occurrence in the financial system. in place since the 1970s, “warns the German bank.

Deutsche Bank’s economists are careful not to give a precise timetable; they do not advance more on the exact origin of the next financial crisis. Nevertheless, they identified ten major issues of concern for financial stability.

Central banks and the standardization of monetary policies

Since the 2007-2008 crisis, issuing institutions have pursued ultra-accommodative monetary policies. On the one hand, key rates have never been so low. On the other hand, central banks have launched large programs of asset purchases. As a result, their balance sheet has exploded: for the only four main (United States, Europe, England, and Japan), it amounts cumulatively to more than 14,000 billion dollars.

The normalization of monetary policies (end of QE, rising rates, deflating their balance sheet) “is a jump into the unknown and history suggests that there will be substantial consequences given the high price of many assets in circulation, “writes Jim Reid, Deutsche Bank strategist.

Even if central bankers are scared and decide not to tighten their policies, “we remain in an unprecedented situation that will make finance unstable, even though we are currently experiencing record levels of low volatility, “the analyst continues.

The rise of populisms

The recent German elections, which saw the far-right enter the Bundestag, recall that Europe has not finished with the populist movements despite the defeat of the FN in France and the reverse of the populists in the Netherlands.

“The only rise of populism comparable to what we are currently experiencing began in the 1920s and culminated in the Second World War. Even though populism in recent years has proved unpredictable, their rise increases the risks to the world order and could well trigger a financial crisis, “writes Deutsche Bank. The bank recalls that these movements have not, for the moment, destabilized the markets.

Short of ammunition in case of recession?

The first German bank wonders if we are short of solutions to cushion a new shock. Indeed, in the wake of the crisis, the States have been heavily indebted to save their economies. Deutsche Bank is not sure that governments have enough leeway to act as aggressively as needed.

Italy, a crisis waiting to burst

The peninsula is the victim of a triple problem. First, populism is in full swing, driven particularly by the 5-star movement, making the political system even more unstable than it already is. Second, growth is not strong enough to fully talk about recovery.

Finally, the fragmented banking sector is undermined by mountains of bad debts: 350 billion euros or 17% of their balance sheet. “The problem of economic growth is that it requires a sound banking system. The country’s banks have been badly managed for a long time and are spattered with stories of fraud and scandal, “Deutsche Bank said.

Brexit

For many, there is little chance that Brexit will turn sour to the point of triggering the next financial crisis. It is assumed that the compromise is the most likely outcome of negotiations when the destruction of both parties is at stake, says the analyst before recalling that the “extreme” example of the Second World War shows how bad this presupposition is. So be careful; any negotiation can have huge consequences, even if it’s not in anyone’s interest.

A crisis in China

The Chinese Krach in the summer of 2015 has already given cold sweats to traders. “For years, China has been designated as the home of the next crisis. The rapid rise in credit […], the huge sector of shadow banking, not to mention an ever-increasing housing bubble, feeds the fears of economists. They fear that China will make a brutal landing and is the epicenter of a wave of shock that would affect all financial markets around the world. ”

Japan is aging and over-indebted

The Archipelago continues to face the challenge of an aging population, record debt for a developed country, and a central bank whose ultra-accommodative monetary policy is a unique experiment in the world. The problems have been known for a long time, but that will not stop them from triggering a crisis, warns Deutsche.

A lack of liquidity in the markets

Financial markets have changed significantly since the beginning of the 2000s. High-frequency trading has increased, as have listed index funds (ETFs). They try to follow the performance of an index or a raw material. In 2017, they exceeded $ 4 trillion in assets under management.

However, ETFs have never been tested in case of shock. Nobody knows how they would react in case of a major correction. In addition, they are suspected of distorting the markets as they allow individuals to invest independently of market fundamentals.

That’s all? 

Deutsche Bank also notes an ever-greater imbalance in current account balances, accentuating the financial system’s instability. Finally, the price of assets reaches a record level in the world like that of bonds.

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

The Importance of Financial Planning: A Comprehensive Guide

Financial planning is a fundamental component of maintaining financial stability and ensuring long-term success, whether for an individual, business, or organization. It is the strategic process of managing financial resources to achieve specific goals, allowing for effective money management, minimizing financial risk, and optimizing resource allocation. In simpler terms, financial planning involves creating a structured plan—a budget or expenditure schedule—that enables efficient financial organization, ensuring that resources are used in the most beneficial way possible.

Financial planning is not a one-time event but a continuous process that involves setting financial goals, determining deadlines, allocating resources effectively, and assessing outcomes. By carefully planning financial activities, individuals and businesses can navigate economic challenges, seize opportunities, and work toward financial security.

The Financial Planning Process

The financial planning process is a structured and systematic approach that includes several key stages. These stages help individuals and organizations align their financial actions with their long-term aspirations. The following steps are essential for effective financial planning:

1. Establishment of financial goals and priorities

   • Goals should be clearly defined and prioritized based on their importance.

   • Financial objectives must be expressed in measurable and realistic terms.

   • Goals can range from personal savings, investment targets, debt reduction, or business expansion.

2. Defining deadlines and milestones

   • Setting realistic time frames for achieving financial goals helps in tracking progress.

   • Short-term (within a year), medium-term (2-5 years), and long-term (5+ years) financial goals should be established.

3. Creating a financial budget

   • A well-prepared budget should identify income sources and necessary expenses.

   • Expenses should be categorized into essentials, savings, investments, and discretionary spending.

   • Proper budgeting ensures that financial decisions align with set objectives.

4. Monitoring and evaluating financial performance

   • Regularly reviewing financial decisions and comparing them to the initial plan is crucial.

   • Adjustments should be made as needed to accommodate changing circumstances or unforeseen challenges.

5. Risk assessment and contingency planning

   • Financial planning should include risk management strategies, such as emergency savings and insurance.

   • Preparing for unexpected financial setbacks helps in maintaining stability during difficult times.

Why Financial Planning is Essential

Financial planning should be a priority for every individual, business, or organization aiming for stability and growth. Whether you seek professional financial advice or manage your finances independently, proper planning ensures a clear path toward achieving financial well-being. The key benefits of financial planning include:

• Ensuring Financial Stability – A structured plan helps prevent financial distress by ensuring resources are available when needed.

• Maximizing Savings and Investments – Financial planning encourages disciplined saving and smart investment decisions.

• Minimizing Debt and Liabilities – A well-managed financial plan prevents unnecessary debt accumulation.

• Achieving Short- and Long-Term Goals – Whether purchasing a home, funding education, or retiring comfortably, financial planning enables goal fulfillment.

Objectives of Financial Planning

The primary objective of financial planning is to develop a structured financial roadmap that guides decision-making related to income, expenses, savings, and investments. These objectives include:

• Avoiding Financial Shortages – Ensuring sufficient resources are available to meet obligations and unexpected expenses.

• Optimizing Costs and Resources – Reducing maintenance costs and eliminating unnecessary expenses to maximize financial efficiency.

• Ensuring Long-Term Financial Security – Creating a sustainable financial framework that supports future growth and stability.

• Enhancing Decision-Making – Providing a clear financial picture that aids in making informed financial choices.

Types of Financial Planning

Financial planning can be categorized based on the time frame it covers. There are two main types:

1. Long-term financial planning

   • Typically covers a period of 2 to 5 years or more.

   • Includes large-scale financial goals such as business expansion, homeownership, or retirement planning.

   • Requires flexibility and adaptability due to the uncertainty of future financial conditions.

2. Short-term financial planning

   • Focuses on immediate financial needs within a year or less.

   • Includes daily budgeting, emergency fund management, and short-term investment strategies.

   • Provides a more specific and actionable approach for managing finances effectively.

Top Five Reasons Why Financial Planning is Crucial

Financial planning provides structure and clarity to financial decisions, helping individuals and organizations stay on track toward financial success. Here are the top five reasons why financial planning is essential:

1. Cash flow management

   • Tracking expenses and spending patterns helps in increasing cash flow.

   • Effective tax planning, careful budgeting, and prudent spending enhance financial efficiency.

2. Family security and stability

   • Ensuring adequate financial security for family members is a key aspect of financial planning.

   • Proper insurance coverage, emergency savings, and estate planning provide peace of mind.

3. Smart investment decisions

   • Financial planning helps in choosing the right investments based on risk tolerance and financial goals.

   • A diversified investment portfolio can increase wealth and financial security over time.

4. Asset management and financial awareness

   • Owning purposeful assets contributes to long-term stability and financial independence.

   • Understanding liabilities and learning how to manage them effectively prevents financial burdens.

5. Capital growth and wealth accumulation

   • Increased cash flow leads to higher capital reserves, enabling further investments.

   • Long-term financial planning ensures a solid foundation for wealth creation and financial freedom.

Conclusion

Financial planning is an essential process for anyone seeking financial stability, growth, and success. By setting clear financial goals, creating a structured budget, and continuously evaluating progress, individuals and organizations can achieve financial security and independence. Whether planning for short-term needs or long-term aspirations, an effective financial plan provides the roadmap necessary for making informed decisions and maximizing financial potential.

The key takeaway is that financial planning is not just for large corporations or wealthy individuals—it is a vital tool for everyone. By proactively managing finances, avoiding unnecessary risks, and preparing for the future, financial planning becomes a powerful instrument for achieving financial well-being and a secure future.

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.