Author: Jennifer Brazer

WordPress security is considered the hot top, and it has immense significance for each website owner. Google blacklists more than 10,000 websites daily because of malware and approximately 50,000 because of phishing per week.

If you are worried about your website, you have to pay attention to and be more concerned with WordPress security best practices. Here, we will share almost all the WordPress security tips that help you protect your websites against malware and hackers.

Although WordPress core software is highly secure and audited daily by hundreds of developers, there are many tips you can choose to keep your site safe. 

At WP Beginner, we consider that security is not only about risk removal. It is also regarding risk reduction. As an owner of the WordPress website, there is a lot that could enhance your WordPress security.

We have a measure of actionable steps that could protect your website against security weaknesses. 

Be ready to get started!

Why is Website Security Important?

A hacked WordPress website could cause severe damage to your business and its reputation and revenue. Hackers could steal your personal information, data, and passwords, install malicious software, and even distribute malware to you and your users.

Worst, you might find yourself paying some amount to hackers to recover access to your website.

In 2016, Google reported that 50+ million website users had been alerted that a site they were visiting might have stolen information and malware.

Moreover, Google blacklists 50,000 and 20,000 websites because of phishing and malware every week.

If you have a business website, you need to pay extra attention to WordPress security. 

Likewise, your responsibility to save your business website is how it is the business leaders and owners.

Keeping WordPress Updated

WordPress is considered an open-source software that is maintained daily ad be updated. By default, WordPress automatically installs some slight updates. For immediate releases, you have to start the update manually. 

WordPress also comes with millions of themes and plugins you can install and customize according to your website’s requirements. These themes and plugins are maintained by third-party developers, who also release updates daily.

These WordPress updates are necessary for the stability and security of your WordPress website. You have to ensure that your WordPress core theme and plugin are updated.

String Passwords and User Permissions

The most common WordPress hacking tries are made to steal your passwords. You could make that challenging and complex by using stronger passwords that are different for your website. Specifically for the WordPress admin area and for database accounts, your custom email addresses, and WordPress hosting accounts that use your website’s domain name.

Numerous beginners do not like complex passwords because they are difficult to remember. The good thing is that you do not need to remember passwords anymore. You can utilize a password manager. Another approach to lessen the risk is not to provide anyone access to your WordPress account unless you have if you contain a big team or guest authors, then ensure that you understand and know users’ capabilities and roles in WordPress before you add an extra or new user authors and accounts to your WordPress website.

WordPress Security in an Easy Way

We know that enhancing WordPress security could be a terrible thought for beginners, particularly if you do not belong to the technological sector. Guess what! You are not alone.

Many tutorials or even service providers assist thousands of WordPress users in making strict security of their WordPress websites.

Here is the list below through which you can secure your WordPress website.

• WordPress Backup Solution
• WordPress security plugins
• Limit login attempts
• By web application firewall
• Covert your WordPress website to SSL or HTTPS.

Fixing a Hacked WordPress Website

Numerous WordPress users do not identify the significance of website security and backups until their website is hacked.

Wrapping up a WordPress website could be highly complex and time-consuming. The core solution is to seek professional assistance to protect against security attacks in the future.

Hackers mostly install backdoors on the affected websites, and if these backdoors are not fixed completely, your website will likely be hacked again. 

Bottom Line

I hope this blog helped you learn the best practices and find the best WordPress security plugins for your site ad and listed other ways to protect your WordPress website.

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.

When employees face a performance evaluation, they either increase their productivity or decrease their productivity level. Effectively managing employee performance helps in increasing the level of business operations. Fulfillment of organizational objectives takes place when employees have an improved level of productivity.

Today, companies struggle for sustainability and gain a competitive advantage through powerful strategic planning and professional human resources. In the 21st century, human resource is the significant strength of corporate more towards designing productive systems and strategies.

Performance evaluation systems are the systems for assessing the performance of employees working in the organization. Therefore, analyzing the relationship between performance evaluation systems and the employees’ productivity is essential for maintaining employee performance.

In a complex workplace where employee satisfaction and motivation become difficult, managers are concerned with fulfilling business optimization outcomes. However, empirical studies have proven that employee performance is impacted by the level of performance evaluation systems present in the organization.

The process of performance evaluation is critical because it shapes the level of employee motivation and productivity. The performance evaluation process is completed with the help of the two-way communication process between the employee and the supervisor. If the performance evaluation system is not effective, it can decrease employee performance and productivity.

Only those organizations will be successful in the 21st century and will focus on integrating HR strategies associated with the corporate’s systems and processes. For example, the process of the performance evaluation system and the connection between business optimization outcomes design the level of employee motivation and productivity.

Practical studies suggest that effective performance evaluation systems are healthy for the growth of employees. Equity theory states that employees measure their inputs versus the outcomes (intrinsic and extrinsic rewards) they receive. If a performance evaluation system is not developed on an equal basis, employees can decrease their productivity levels. Therefore, evaluation is a serious component in the appraisal system of employees.

If a performance evaluation system is effective, it will motivate individuals to be more productive and fruitful. Therefore, the performance evaluation system needs to be effective and transparent to act as a tool for motivating and developing business optimized outcomes.

The topic of performance evaluation explores the link between performance evaluation systems and employee performance. Employees of the service sector were used for the research study. Results of the study explored that performance evaluation systems in hierarchical structures provided limited results.

Managers of these companies are not willing to take two-way feedback from their employees. However, in flat organizational structures, performance evaluation systems are effective. Therefore, 360-degree feedback systems are adopted by these companies taking two-way feedback from their employees.

The current study aims to examine the effects of effective performance evaluation techniques on employee performance and productivity in companies to optimize business outcomes.

The scope of the present article is to provide the companies with insight related to improving their performance evaluation systems to reward and motivate their employees, which in turn results in optimizing the company’s business outcomes. Empirical studies conducted on the same topic have examined a positive relationship between performance evaluation systems and performance optimization of employees.

Employees look at the methods of performance appraisal adopted by the company. When respondents were asked about the effectiveness of performance appraisal systems in their company, most employees stated that they are satisfied with the systems.

The link between the performance of the employees and the overall fulfillment of organizational objectives was explored. Employee productivity and motivation can be shaped with the help of performance appraisal systems.

Employee productivity is linked with the level of motivation and satisfaction. Factors for increasing the level of employee motivation are job security and leadership adopted by the managers. Performance is linked to the level of the environment in which they are working.

It is stated that performance evaluation is one measure for analyzing the level of employee productivity, but it is not the only measure for analyzing the performance outcomes.

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.

With population increases and threats posed by climate change on the rise, agribusinesses are needed more than ever. It is estimated that by 2050, the global population will reach approximately nine billion.

If you’ve been looking to kickstart an agriculture business, now is the opportunity to take that leap of faith. There is no need to worry if you don’t know about agriculture businesses and are completely new to this domain. Here are six steps to starting your own agriculture business.

1. Establish your goals

Formulating the objectives is a crucial step in the process of starting any business. If you want to become a successful entrepreneur, you must ask yourself the following pertinent questions.

• Why do I want to start an agribusiness? Why not something else?
• Am I doing it solely for profit or for giving back to society as well?
• What do I want to achieve through this business venture?

Once you have answers to the above questions, it’ll be easier for you to choose the direction you want your business to take.

2. Identify your niche

Knowing what you want to grow is not enough. It would help if you also had a clear idea about your market, buyers, and competitors. Thus, you must undertake extensive market research to assess your business strategy. So, if you are already interested in a specific product, you should study more about your local market.

Look at other farmers’ markets, talk to other local producers, and meet consumers as well. If you can, survey other markets to see if any crops are undersupplied. Another critical part of the research process is turning to the local state department of agriculture. They will provide you with the latest information on farming in your state and help you with the legal procedures.

3. Choose the most suitable land

After figuring out your agriculture business objectives and niche, you’re going to find the right farmland. Besides, it would be best if you decided whether to buy or lease land. Leasing land is a popular choice for many new farmers as it minimizes financial risks and reduces upfront costs. If you’re inclined towards leasing, find people who own farmland but don’t do much. If you end up choosing to purchase land, you need to consider the following things.

• Your land’s proximity to markets
• Water supply
• High-quality soil
• Facilities and infrastructure
• Neighbors

4. Arrange financing for your agribusiness

If you are a budding entrepreneur, chances are you are going to seek loans for your farm. You must be realistic when initially applying for funding. You might not be able to secure such funding initially, to splurge on fancy farm equipment, and you’ll need to be careful as to which tools to invest in.

For getting a loan, you’ll have to write a business plan. Even if you’re not seeking a loan, a business plan is useful in helping you figure out which of your ideas are worthy of application.

5. Market your agribusiness

Marketing is an essential component of any business. You cannot expect your farm produce to reach consumers without having advertised it in the first place. You can successfully spread the word about your business by creating a logo for it, writing a catchy tagline, launching a website, and advertising it through newspapers.

Initially, you may need to allocate a bigger chunk of your budget to marketing. But it is vital to the growth of your agriculture business and sets you apart from your competitors.

6. Hire a workforce

Running an agriculture business is certainly not a one-person job. Unless you have a family to help you manage all chores at the farm, you will have to hire some employees. However, before you start recruiting people for the farm, you must keep in mind a few things.

First, you need to assess the areas you need help with. Second, you must consider the budget you can allocate to employee wages. Besides, it would help if you also analyzed whether you would hire full-time or part-time staff. Finally, after charting out a plan, acquire the help you need to make an enduring impression on your customers.

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.

Thanks to the storage in the cloud nowadays, things as simple as changing computers have become much simpler processes.

Companies have also benefited, for example, by always and everywhere providing information about their business.

To understand what it is and what types of storage in the cloud exist, join me in this post for the next few minutes!

What is cloud storage?

This name has been given to the type of storage that keeps information and keeps it always available on a server. To achieve access, it is essential to have an Internet connection.

Also known as cloud computing, this type of service allows you to store content of all kinds, whether text, image, sound, or video, and in turn, you can access them from any device with an Internet connection.

Some web applications also manage this type of storage so that their programs work and their users have access to information, such as marketing automation tools, CRM, among others.

Because of the amount of information that can be stored, the storage in the cloud has limits that depend on the company that provides this service.

Most have free accounts, which may be more than enough for many, while for others, it may seem little.

An average user will use approximately 5 to 10GB of information stored in the cloud per year. How? well, between photos, music, and videos, this space is easily consumed in a short time.

Types of storage in the cloud

According to the properties, limitations, and access to the information they present, there are different types of storage that you or your company should consider before deciding on a possible investment.

Public cloud

This type of storage has few restrictions on access to information. In addition, by having a company dedicated to your care, the maintenance that you must do to your account is minimal. The risks of losing information are low because they have a good level of security.

This is the option most used by users of this type of storage due to its low or no cost and ease. Some of the most common are Google Drive, Dropbox, iCloud, Soundcloud, among others.

In summary, we could say that public cloud storage is ideal for personal use, small entrepreneurs, and marketing professionals who are beginning to build their portfolios.

Private cloud

This type of storage in the cloud has better performance in terms of security and personalization compared to the public, apart from being able to count on occasions with much larger storage capacities.

Data backup providers, tools for scheduling queries, or image banks could be examples of this type of computer cloud.

This solution is more used by companies since they need high storage capacities and also security in their information.

Hybrid cloud

This is nothing more than a mixture of the two previous clouds, and they are used when, for example, you want to have a data reservation, but at the same time, you want to return a part of the public.

We can mention a company that uses Big Data and that needs this type of cloud to store sales information, OKR, and sensitive metrics of the company, but at the same time wants to share some useful information with its collaborators.

Types of cloud storage service

As I mentioned earlier, there are companies whose products or services depend on this storage in the cloud.

These services can be infrastructure, platform, or storage.

Starting with the IaaS (Infrastructure-as-a-Service) that are the most common, we can find companies such as Amazon, Rackspace, Flexiscale, which have large storage servers that provide the basis for other services.

If the service has an operating system, a programming language, a database, and a server, it is known as a PaaS (Platform-as-a-Service), some of them are Microsoft Azure, Salesforce.

And finally, we find the SaaS (Software-as-a-Service), which works with a web application model where users can find solutions many times cheaper than buying a Software license. Some examples can be HubSpot or Pipedrive.

Conclusion

The storage in the cloud gave space to a great digital transformation. The great change occurred in access to information and the number of services and solutions that emerged from it.

Then, we can say that public clouds are feasible to be scalable, but they are not known for performance since their focus is the individual consumer.

Private clouds provide high confidence but are limited in their long-term scalability.

Finally, hybrid clouds offer the internal control that some companies are looking for, but they tend to be more expensive.

The choice will depend on the strategy you want to use and, of course, do not forget that this must be considered within any marketing strategy, for example, in the use of a marketing automation tool or a CRM.

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.

Many are the people who, at least once, have had to face a financial crisis, either because of unemployment or health problem or simply because they overpaid and lost control of their debts, which now drown them.

According to a basic financial rule, the payment of your debts should not be greater than 30% of your net income since otherwise, you could fall into a situation of insolvency.

Have you been indebted at some point in your life?

If you are in debt and this has become a situation that overwhelms you, causes stress, and you lose sleep, do not despair because getting out of debt is not easy. Still, you can always overcome discipline and planning with discipline and planning them. The most important thing is that you recognize that you are in a debt problem and do not wait for your accounts to be sent to a collection agency.

And is that being indebted is not always bad. However, it sounds strange; there is also good debt and is what you allocate to increase your assets, for example: buying a house, remodeling your home (which gives more value), the acquisition of a car, etc.

There is no universal plan to get out of debt, and the strategy should be under your situation, so in Protect Your Money, we want to make some recommendations for you to take the one that best suits you:

List your debts

Take out your account statements and make a list of all your debts. Write the name of the card, the total balance of the debt, the interest rate, the minimum payment, and the payment deadline. For this, we can suggest two formats:

1. Place first the debt with the highest balance and then the rest in descending order. Concentrate your efforts on paying the highest debts, pay more than the minimum, and the other destiny accounts at least the minimum payment. Do not stop making monthly contributions to keep up to date.
2. Order them according to the highest interest rate. In this way, you will dedicate the largest amount of money to liquidate the most expensive debt. Without a doubt, this is the best strategy in financial terms since you will first settle the debt that generates the most interest.

Create a budget

The first step to take control of your financial situation is to know how much money you spend, to then define the amount you can spend to pay your debts. First, make a list with the total amount of your monthly income, then fixed costs (rent, tuition, gas, electricity, telephone, etc.), and finally variable costs (transportation, entertainment, clothing, shoes, etc.).

Establishing a detailed budget that accounts for all your expenses, however small, will also allow you to determine where you can cut them. The most advisable thing is that you start by reducing the tastes and unnecessary expenses, without this, you will stop having a good time, it is not that you do not spend, just do it in moderation. For example, you can reduce the number of times you go to the movies or eat, cancel pay television or reduce your mobile phone plan.

Pay more than the minimum

To get out of this complicated situation as soon as possible, you must allocate as much money as possible to the payment of your debts, and it must be enough to cover the minimum payment and a little more.

Consolidate your debt

This option allows you to group your debts into a single account. Check which bank offers you better conditions (CAT, lower interest rate, etc.) and ask you to transfer the balance of several credit cards to a single plastic, in addition to having greater control of your payments, this will allow you to save commissions annually. Not all financial institutions offer this benefit, so ask at the bank of your choice if you manage the program and under what conditions.

Save the cards

If your goal is to stop borrowing, avoid using credit cards at all costs. Leave the plastics stored in a safe place, or if possible, destroy them to eradicate the temptation to use them and get used to making all your purchases in cash.

Restructure your debt

Compared to consolidation, the restructuring seems at first glance more advantageous because the creditor institution can reduce the amount of your debt and even eliminate the interest generated by it. However, the downside is that it will leave bad records in your credit history, so it will always be better to settle the total of your debts.

Request a fixed payment plan

This option allows you to “lower” the amount of the payment you must make each month; the benefit is that the interest on the debt will no longer generate interest. This facilitates the debt payment in a much shorter period than if you only made the minimum payments. Usually, the Financial Institutions handle terms that go from 6 to 60 months. It is important that once you establish this plan with your creditors, do not use your cards again, since otherwise, you will increase the amount of your debt, and you could fall back into an insolvency situation.

Make your card your best ally

Credit cards are one of the best credit options if you know how to handle them since they allow you to finance up to 50 days without paying a peso of interest. In addition to this, they offer you some benefits such as generating points with which you can pay your annuity, obtain airline tickets or have travel insurance. In addition, they allow you to pay for services with your home, thereby saving you the transfer to a branch.

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.

When starting a business, you may consider taking on a partner to divide the business’s burdens. However, if you decide to take on a working partner, you have to figure out how to divide the business, and you need to figure out what qualities to look for in a partner.

It is better to foresee from the beginning how to resolve possible conflicts that may or may not be resolved than to have to resolve them when the relationship between the partners is confronted. In that sense, another important aspect is to define well from the beginning the responsibilities and areas of action of the partners.

If we take a look at the big companies, the business history is full of examples like Yahoo!, Google, Burger King, Ben & Jerry, Hewlett Packard, Harley Davidson, and Procter & Gamble in which the charisma and symbiosis of the founding team were determinants for the growth of companies. 

In the same way that there are examples, taken to the big screen also, of companies where the friendship of a group of friends who founded a startup broke apart, as happened with Apple or Facebook. And it is not always easy to choose the right business or financial partner. So here are seven tips that should be considered when choosing a business partner.

Knowing what each one is worth or what they really can or do contribute

Napoleon is credited with the maxim that ” man is like a number: he only has value for his position. ” However, friends and enthusiasm there is when it comes to entrepreneurship, reality shows that each partner has a value and that no partner is worth.

It is important to know the value that each of the partners brings, what they will contribute and what they cannot ask for, their areas of expertise or contacts. Not all partners have to do the same or are worth the same. Changing people is complicated, and partners must accept each other as they are and be aware of their virtues and shortcomings. They must know each other, and they must interpret the behaviors around them depending on how each one works to avoid surprises.

Have confidence and delivery in what needs to be done

No matter how beautiful they paint it, undertaking it is not easy. When you embark on an associative project, you have to park fears, the “just in case,” the repairs raised before embarking, and once you have embarked, you cannot measure or cover your back or not surrender body and soul to draft. Without blind delivery, there is no trust, and without trust, there is no possibility of reaching a promising future.

If you do not trust your partners, you will be more aware of the ghosts than the business, and you will make wrong decisions. Or, as Churchill said, ” I spent more than half of my life worrying about things that were never going to happen.”

Have a spirit of sacrifice

As in sport, any business project also involves personal, family, and sometimes business sacrifices. If one of the partners is unwilling to sacrifice himself, it is not worthwhile to embark on something that will demand a lot, more than what one can normally give, and that will generate misgivings among the rest of the members. Therefore, in business projects, there is a lot of teamwork.

Know how to communicate and make yourself understood

It is not enough to send an email and then justify that “I already warned.” In a business venture, there must be communication between the partners. The freedom to express their position with total confidence, without the first change, is a rupture.

Without dialogue or confrontation of ideas, it is difficult for the union of the partners to make the force. For this, we must stop emails and promote face-to-face meetings and draw up the corresponding minutes so that there are no doubts about the decisions.

Search for persistence and creativity

The partner has to evolve with the business, undertake, adapt to the market, meet consumers’ new demands and needs, innovate, and be creative.

All this requires a constant, continuous, and persistent activity that requires the member to be a fighter and must provide new and different ideas to think and do like the most.

Take responsibility and demand commitment

If you are not committed to the project, if the partner does not focus on life placed on it, it is difficult for a project to move forward, and even more so if that commitment is not linked to responsibility.

One has to know what obligations one assumes and the burdens each day one is forced to endure. Without responsibility, there is no viability.

Knowing how to risk

Not everything is written in the Excel business plan or the commercial strategy of the PowerPoint. A partner has to make decisions, and it is not easy to do it or always leads to their success. But who does not make decisions, does not walk, does not walk, and in a business, you can never stand? Many decisions involve risks, and without risk, one is not a businessman, not any person is worth to risk, and not any risk is valid.

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.

There is no doubt that one of the most important decisions of our finances is to decide how we manage savings. Investment funds represent one of the many financial products that help those building their savings account.

There are as many types of investment funds as there are investment strategies. Their fact can mean that the saver feels overwhelmed and undecided when it comes to subscribing shares, not knowing how to make an accurate decision in many cases. Here are four steps to help you choose an investment fund for your savings.

Determine savings and investment goals

The prelude to the investment is saving. The purpose of all investments is to increase wealth. We must keep in mind what sense is given to both saving and investment. Associating these concepts with a material and concrete objective will help us to maintain consistency and discipline.

Do we want to buy a car or other property of a lasting nature? Are we saving for an event in the future? In short, each euro must have an assigned destination engraved. The minimum objective to preserve savings (maintain capital while we decide what to do with it) will overcome inflation.

The objectives must be concrete (the more concrete, the better). Just as it is necessary to quantify the objective, translate it into a monetary figure. After their, a temporary period must be established to achieve it. The objectives must be realistic in terms of amount and term.

The investment term is an important factor in selecting the type of investment fund most adapted to our financial needs. Therefore, both the objective and the deadline are two key aspects of any investment.

Set the maximum risk to assume

Establishing the risk profile involves having to do introspective work since it depends largely on a psychological factor inherent to each saver.

Concepts such as age, income, family situation, and other personal issues influence when defining our profile as an investor. But in short, every saver knows where he has their psychological cap. If not, there is a trick that works very well:

When we are clear about the maximum level of risk, we can assume without suffering serious economic and emotional damage; we can choose the objective of profitability.

Profitability and risk are two concepts that are intimately and related. The higher the return, the greater the risk. There will always be the case in the investment world. Beware of those who promise high profitability with little risk.

Therefore, the level of risk is established first, and then the best return adapted to that level will be sought. Doing it in reverse is a serious mistake.

Pre-select investment funds related to you

After the introspection work, we will have to carry out the research work. Luckily, some fundraisers make their tasks much easier. In addition, as soon as the saver is clear about the objective, the time horizon, and the risk, it will be much easier to find the ideal savings product.

Now is when the star question comes, fixed income, equities, or a mixed fund?

Neither fixed income, nor variable income, nor the combination of both types is good or bad by themselves; everything depends on the economic situation and our profitability and risk objectives.

We must inform ourselves how much the fixed income is performing in general terms and if their profitability is consistent with our objective. That being the case, we would not have to assume a greater risk unnecessarily.

Unfortunately, the fixed income in recent times is not giving a good return, thus being necessary to include a percentage of variable income to the portfolio to achieve the monetary objectives in the marked horizon.

One thing that should be clear, the variable income is not suitable for short-term objectives. Due to the volatility it presents, it can ruin our investment strategy. Therefore, as we get closer to the end of the savings period, we must choose a more conservative investment philosophy.

If the variable income can lose 10% in a year and our time horizon is two years, will there be material time for the investment to recover? It is unlikely. Their type of asset works very well for longer horizons; however, you can incorporate a percentage into any portfolio to give it an extra return without losing sight of the risk profile.

In short, we must inform ourselves of the risk and profitability of each category of investment funds. In their way, we can limit the universe of these products to the preselection of funds related to our strategy.

Read the DFI of the pre-selected fund carefully

The Document of Fundamental Data for the Investor (DFI), formerly called a simplified informative brochure of the fund, is mandatory delivery to the investor before subscribing to the investment fund’s participation.

Their document summarizes all the relevant background information, which the saver must know to make an informed investment decision. Once an investment fund has been pre-selected, it is necessary to make sure that it fits our needs through their document.

When the saver has their information in their knowledge, they can decide to manage their savings and choose the right investment fund. The next step is to execute the subscription of shares in the selected investment fund.

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.

There are some advantages of renting and leasing, and they have different fiscal effects depending on how you handle them. Here are the advantages, differences, and fiscal effects of renting and leasing.

Renting

The fees paid are only reflected in the profit and loss account for the amount of the installments. But they will not be visible in the company’s balance sheet since it does not appear as an asset of the company.

They are operations subject to VAT and like financial leasing. Only payments are posted to the company’s income statement are 100% deductible for corporate tax purposes.

The landlord/owner will be responsible for the repayment of the property. Depending on whether or not it has an option to purchase, the taxation of the operation will be determined. In case of not offering the possibility, the fees are fiscally deductible expenses. 

On the other hand, if there is a purchase option, the deductibility of the fee will depend on whether or not there is reasonable doubt that the option is executed. But, in general, renting operations do not usually include a purchase option, so it allows the use of rapidly depreciating goods without any fiscal limitation.

Financial Leasing

The interest on the lease is 100% deductible, so all the amounts paid in interest will have to be recorded in the income statement during the year.

The part of the paid installments that corresponds to the recovery of the asset’s cost will be considered tax-deductible. According to the official amortization tables, it does not exceed double or triple (for SMEs) the maximum coefficient of linear repayment of the goods. This happens in all cases except if the leased assets are not depreciable such as land or plots.

The accounting amortization will be made based on its useful life, and fiscally it will be double its maximum coefficient during the first years and reversing these amortizations in the future. This implies deferring the payment to subsequent exercises. It will appear in the profit and loss statement as for financial expenses, which is the amount that will be reduced by the amortized amount each year. 

Of the annual fee, one part corresponds to interest for the amount financed. These two amounts will appear in the profit and loss account and the balance sheet as accumulated Amortization. In this way, taxes to be paid will be reduced since the benefits obtained appear before taxes.

To capitalize on assets, it is often advisable to use leasing. This increases the value of the asset, net worth, and liabilities of the company.
The tax advantage of leasing is that a liability account can be opened for “deferred tax” for an amount equal to the depreciation allowance for the year. In this way, the amount in corporate tax is postponed and will be paid in future periods.

Why Is Leasing A Good Financing Method for Freelancers, SMEs, Startups, and Entrepreneurs?

When a large initial investment of tangible assets is needed, it is advisable, but the necessary financial resources for its acquisition are not available.

The goods that are usually financed are:

• Furniture.
• Vehicles.
• Computer or technological equipment.
• Machinery.

Main advantages:

• It allows SMEs and freelancers to obtain goods that entail a high investment without making a large initial outlay, as would be the case of the purchase.
• It is 100% fundable.
• In addition, we can prove the good during the leasing period by not having made the purchase. If this does not meet our needs, you can change it or, on the contrary, pay the current residual value.
• It is a way to maintain the option to update those assets when necessary without losing all the initial outlay or the entry of a loan.
• Their conditions are usually flexible and adaptable to the client.
• The deductions and deductions that can be made are 100%, except in cases of real estate.
• Its amortization can be accelerated, unlike rents, and thus pay fewer taxes during the first years.

Factors to consider if you are going to choose this method of financing:

• In many cases in which the tenant ends up not acquiring the property. If you are clear that you will not be interested in your final purchase from the initial moment, it is better to opt for renting.  With this method, you will have lower lease installments.
• Study the components of the quota carefully. At the cost of recovery that forms the basis of the fee, you must add the interest and the possibility of including the risk premium.
• You should also consider the minimum period of the contract and the associated clauses as product reviews, penalties in case of non-compliance, etc.
• If the tax advantages (deductions and accelerated depreciation) are the main reason we opt for this type of financing, it is better to study well if it suits us. 

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.

Many of us have heard the saying, “Teamwork makes the dream work,” and it holds true. The question is, are you an excellent team player? Every professional should ask this question whether you’re a CEO, middle manager, an intern, or a college graduate. Teamwork is a crucial component to individual and business success.

The power of teamwork should not and cannot be underestimated. It is the cornerstone on which all successful businesses are built. But, as a manager, taking teamwork for granted is the biggest mistake you can make. If you did, you’d end up with a dysfunctional team and an eventual disaster.

If you’re wondering why teamwork is essential at your place of business, here are some of its benefits.

Cohesive Work Environment

Teamwork fosters a friendly work environment where leaders are not to be bosses but rather work together with members as a team. This helps build strong bonds between the members and improves work efficiency.

Getting all employees to work together allows tasks and responsibilities to be divided between smaller, more manageable chunks for faster completion. Teamwork also promotes the idea that the person with the skills works on the task more suited to their capabilities.

Higher Morale

How many times have you seen people enjoy their work in your career? Chances are, there aren’t many. People often lack the charisma and the motivation to work, and the only thing holding them to their seats is the money they get by the end of every month. However, studies have shown that people prefer to work in offices with a better environment than those with better salary packages.

People feel better about themselves when they work together as a team. It helps motivate them through the idea that no matter how difficult the task may be, they are not in this alone. When teamwork is a priority in your office, employees in your company would feel:

• They have something unique to offer
• They can contribute to successful results
• Their work is being valued

The boost in morale among employees makes the business better in every aspect.

Better Learning Opportunities

When people work together, they share each other’s successes and failures, and through that, they also learn from each other. Teamwork creates a supportive environment where skills and information are constantly shared among peers, and learning never stops. The best part is all this happens without undue risks.

For instance, when things go awry, different people work together to achieve a goal and make the situation better. Also, everyone learns what not to do the next time. Teamwork shows people how to get things done more effectively the first time around.

Encourage Flexibility

Since people are working and communicating together, teams enable different perspectives to be considered and allow the business to respond to change faster. For instance, if one employee is tasked with solving a problem, everyone comes with a solution of their own, each with their own merits.

There might be some ideas that overlap each other, but still, there would be plenty of options. These options allow the teams and the organization to use minimal resources and work with flexibility. This is called reactive innovation, where employees innovate faster by working together.

Less Managerial Interference

When employees work together, they gain a sense of self-monitoring, which is usually not present when they work by themselves. This self-correcting behavior removes the need for a manager to supervise them and stay involved constantly. If you’re a manager where people are working in teams, it can leave you more space to focus on other aspects of your business.

Better Quality of Work

As a business manager or CEO, your primary concern will always be with the quality of work being done by your employees. Of course, this is what you expect from your employees and maybe something that causes sleepless nights for you. However, with teamwork, every member comes with the best they have to offer. As a result, the outcome offers better product quality with consistency. Why? Because you’re no longer relying on one individual anymore.

Conclusion

Teamwork is essential. It doesn’t matter what kind of business you might have. Building teamwork in your workplace doesn’t have to be an uphill battle. It can often feel like an activity. If you want people in your organization to work as a team, get them involved in recreational activities like games where working together is the only way to find success.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-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.

If you are thinking about starting a business or have fully formed your business plan, here are factors to consider when developing a business idea.

50 and 50

First, pinpoint the differentiating factor between your business or brand and the rest of the market.  This will develop your relevance in your market and among your target audience. relevance in your target audience.

Remember that developing this awareness is only 50% of the process.  While this 50% seems to be the easiest part of the process, invest time and research your market to develop a comprehensive idea that can be realized.  It may be frustrating and require you to start over several times, but do not get discouraged.

While this is idea is fundamental for your business, the most important thing is to know how to develop that business idea into a product or service.  Unfortunately, this is where many entrepreneurs can lose motivation. The remaining 50% consists of taking your ideas and transferring them to a tangible product, from pencil and paper to Word and Excel to a marketable product or service.

Know your idea

Once you have determined your differentiating factor, another important part of the process is having full knowledge of your business idea. That is to say, understand your brand or new product carried and its DNA.

Be sure to research and find out everything related to your idea in terms of industry and market, production and materials, and platforms and marketing.  If an obstacle appears, you must know how to respond and react based on your research.  You are the face of your idea, so you must understand all aspects of your idea to represent and market it well.

Know your audience

You should not only know your idea fully, but you should do it with your target audience in mind. Understand what they do, how they do it, and when they do it.  This will help you continue developing your idea and understanding how it becomes part of their lives and provides them with solutions.

Remember that people change, and so do their tastes and needs, so your idea must be adaptable.  Business models are not static because they move and flow with people. Therefore, your idea should be adaptable as well. 

The market

Analyze what your product or business idea would look like in the market, and ask yourself the following questions:

• How would it sell?
• Who would be your direct and indirect competitors?
• What would be the price to the general public?
• Will it be sold in a store, supermarket, or maybe via the web?

These questions should have a clear answer, so keep in mind that a business idea must take into account external factors, including production and distribution.

The motivation

Motivation is fundamental to growing your idea into a revenue-generating business. Taking it from inception to profit requires perseverance, work, and dedication. Every day will bring new and different challenges, which you must face with a lot of passion and motivation.

 Finding motivation depends upon the entrepreneur, so never stay still.  Know, look, analyze, and question your ideas and processes to not lose your motivation.  Similarly, profitable businesspeople often attain success because they are passionate about what they do. They love what they do, and in their love, they find current opportunities in the market. On the other hand, many of them experience failure of an idea at least once, which is why you must not become discouraged.  A simple idea can be good enough and original enough to become a profitable business.

In summary

• Your business idea must be accompanied by clear market goals and objectives.
• It has to have a differential value.
• You must understand the business model and how your idea enters the market.
• The differentiation must be the added value to the market.
• It must be profitable and sustainable.
• Your idea must be liquid, that is, moldable and adjustable to your audience and the market.
• It must be an idea developed and maintained with passion, dedication, and motivation.

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.