Author: Jennifer Brazer

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.

When it comes to the home-based business, you have to consider what you will need to plan for tax season. It would help if you planned for your taxes since you won’t have the advantage of having taxes deducted from your income, like when you work for someone else.

You must know the current tax laws to file your taxes properly for your home-based business. If you expect to save money and bring that money back into your business, you need to learn about tax laws. Unfortunately, most small business owners do not know the laws, nor do they save towards their taxes and end up filing late or not at all.

Because of this, a business owner might want to consider hiring a tax professional that is aware of the current tax laws and knows how much you should save each quarter to cover the taxes at the end of the year. Hiring a pro will also ensure that you file your taxes on time.

Whether you choose to hire a professional or do your business taxes, you should be aware of the laws and be proactive in ensuring your taxes are filed correctly and on time. Here are five tips to help you file taxes for your home-based business.

Get Organized

Getting your business organized is the first step towards proper tax planning. This planning is where you track both your records and business performance. Gone are those days when home-based businesses do everything manually or record transactions and daily expenses on registers.

This approach has changed, and companies take advantage of the tax situation by citing everything clearly on advanced bookkeeping or accounting software. From there, they can track business expenses and know the exact status of their company. Even home-based businesses are embracing superior software to create a clear picture of their business finances.

Choose the Right Registration for Your Business

According to studies, home-based businesses contribute to 70% growth in the American economy and help drive innovation. This innovation indicates that small-scale businesses operating from homes play a crucial role in developing an economy.

When economic activity is on such a massive scale, companies need to abide by the country’s tax laws and regulations. So, small businesses need to register their business under the entity type supporting your business and its short and long-term tax goals.

Audit-Proof Your Business

It means saving your receipts and having a back record of all your business transactions. This backup includes keeping a record of your business expenses or expenditures. Besides that, audit-proofing means saving more than your receipts covering your costs, car mileage bills, etc. Before filing taxes, you need to tax professionals about how they can reduce their tax bills.

Get a Home-Based Business Tax Professional

Without a doubt, a tax professional understands the intricacies of almost every type of business. It is hard for small business owners to find the right tax professional with in-depth knowledge and expertise in saving taxes. Not all tax professionals have to be expensive as generally perceived.

With little market search, you can find an affordable accounting professional fit for your type of industry. Home-based businesses can expect to save thousands of dollars on taxes if they are serious about protecting their hard-earned money. So, a company can hire a specialized tax professional with tax-saving knowledge and skills to reduce their tax bills.

Start a Retirement Plan

Home-based businesses can avail themselves of an exciting opportunity to contribute regularly to their retirement plans. Doing this will ultimately result in saving taxes and is the best savings strategy to help businesses get their money back. Several 401k or IRA plans can help you save more specifically developed money for home-based businesses.

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.

Often business owners work hard to advance their business but do not see the financial results they should.  Below are tips that will help you maximize the profitability of your business by generating more revenue.

Improve profitability by generating more revenue

Increase prices

It may seem absurd at first glance, but increasing prices is easy to do without deterring customers. Do not increase prices by 40% but be patient and steadily increase them. It may take several months or years, but ultimately you will see a financial payoff for justifiably increases prices.  You can feel confident raising prices when you:

• Analyze the competition. If your business is the only one in your geographical area, you will increase your rates.
• Focus on quality. Your customers will not be deterred if your product or service is quality and of a certain caliber.
• Encourage your customers to leave reviews on your site.  The more positive customer reviews you have, the more people will give you their business. Do not delete a negative review but contact the person to find out what is wrong and make a commercial gesture if necessary.

Focus on high margin products

Today, many leaders are focused on revenue growth, but high turnover at a low margin is not necessarily a viable solution. It is important to pay attention to your different products/services. If one of your products is not selling at a beneficial rate, then revamp it or remove it from your inventory. Be careful to retain and highlight a flagship product that generates a large margin.

Expand your business

Your business may reach its maximum potential in a sector.  In this situation, it is time to develop a new product or service, enter a new market, or expand locations. However, when venturing into a new area, be careful to compare the advantages and disadvantages of expansion in terms of market, budget, and competitor intensity for each location you are considering. 
Expansion does not necessarily mean entering an international market.  You can easily establish yourself in another department with high customer potential and low or nonexistent competition. Do not hesitate to market your expansion; this will allow you to attract new customers quickly and increase your profitability. 

Building your network of prescribers 

A prescriber is a person who recommends or prescribes a product, a material, a service, a care, etc.  To make it clearer, a prescriber is a person who will recommend your company to his friends, family, clients, customers, or prospects.  Leveraging a prescriber is a great way to save on communication costs, and you can continue to build your “address book.”

Here is a small list of examples of prescribers:

• Satisfied customers
• Accountants, notaries…
• Actors in a field of activity close to yours

It is important to build a network of prescribers and grow it.  Here are some ways to develop your network:

• Interact with your customers because they can become true ambassadors of your brand.
• Attend rallies where companies are likely to be interested in what you offer. Offer samples, demonstrations, exchanges, etc.
• Do not neglect companies offering you complimentary services, but a competing company (even partially) will NOT be a good prescriber.
• Direct client to your colleagues who you cannot service. Generally, they will return the favor and refer customers to you for service developing a partnership.
• Keep your network informed about your business news, interested in your contacts, etc. In short, notify your network so you can rely on it at the opportune moment, and they will have a vested interest in your successes.

Once the prescribers in your network are actively engaging with you, you will be able to sign more contracts or generate more traffic, increasing your profitability and revenue.

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.

Some people have difficulty talking about money and finances, especially when it comes to their kids. However, every financially responsible adult with children should focus on discussing finances with them. It is never too early to teach your kids about financial responsibility, spending, saving, and investing.

The sooner you introduce your children to financial planning, the better chance they will be financially independent and stable when they become adults. Here are seven great tips to help your children learn financial planning.

Never shy away from the discussion

When it comes to children, they have questions about money in their minds earlier than any parent would think. Having the guts to talk about money to the children can be a tough thing for many grownups. But shying away from the conversation isn’t the solution to anything, and that is something every adult understands much better than anyone.  

Build a budget

As a kid starts to age, parents need to decide where they want their children to be spending. Parents can also control that as they have the authority to pay for what they find necessary. Parents must make things clear for the growing children that it is time to take on some responsibilities. The responsibilities include taking out a budget for their needs or wants? Or it could be that from now on they have to fulfill all their expenses.   

Make the kids aware of their expenses and bound them to a budget and how they should be spending to cover their expenditures. When a child covers all his expenses, parents need to conduct a detailed conversation about all their expenses and build a budget to work with.

Make a planned system

Creating a system is important for any parent, which should be concentrated on how things will be from now. It is not that everything will start to fall into place immediately, but everything does take some time. Patience is the key to success when it comes to dealing with kids.

The first and foremost thing to do is to get rid of traditional piggy banks. Replace them with glass containers as it is more fun to look through transparent containers and guess the amount of crumpled currency.

Let children stick with their decisions

Once a budget is set, it is crucial to allow kids to decide about purchasing and sticking with it. No matter where they spent that shouldn’t be the concern of a parent. It gives kids the freedom of choice, which allows them to choose between what is right and what is wrong sooner or later. A kid spending on useless things will eventually learn the importance of things and will be able to differentiate what is necessary and what is not.

Teach kids with compassion

What to do when kids don’t spend their budget correctly? It doesn’t mean to provide them with more money; instead, focus on letting them suffer their decisions. Only bail a kid out of the consequences of their decisions when their health is at stake.

An important task for any parent here is to ask the kid about their past spending, which leads to all of this. Talking peacefully and calmly is the most key aspect of this conversation because, as a parent, the child must be comfortable speaking the truth at all times.

Encourage earning income

Encouraging work for money must be the topmost priority of parenting. It is what puts the kid understand how money is earned. Once a kid realizes how money is earned, they understand how much effort is required for any work.  

Let kids run a yard sale

Once a kid gets to experience the process of selling, they properly get to know how the market works and how to manage money. This what develops a kid’s mind towards the process of sale and purchase. It is very important at an early age to instill such thoughts and ideas into children’s brains.

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.

To get where you need to go, including work, school, shopping, and errands, you will need to use some form of transportation. Depending on where you live, most people handle their transportation by owning a car.

Vehicle ownership is common from age sixteen and above. Most teens learn to drive saved for a car by working or asking for a car from their parents or guardians. If a car cannot be afforded, there are alternate forms of transportation. Some can be expensive, while others are more economical.

Transportation is an important part of life to get anywhere, and when it comes to financial health, it needs to be considered in your budget. The transportation portion of your budget could include payments, maintenance, insurance, and gas, all of which can be expensive if it is not controlled. Therefore, to help keep your budget under control, here are six tips to help you save on transportation.

Use of public transport

Public transportation is far less than driving yourself. While it can take longer to arrive at your destination, the advantages of using public transportation are more than just the cost savings. Many forms of public transportation have Wifi, allowing you to multi-task and get work done as you travel.

It is also an opportunity to wind down or get some additional rest while traveling to and from your destination. It can also relieve stress since you are not dealing with other drivers or traffic.  

Buy smarter

If you decide you really need a vehicle and don’t like to use public transportation, you can buy smarter using one of the following options.

• Instead of purchasing a new car, you can find great deals on used cars. Once a car is driven off the lot, it depreciates. Therefore, when a person sells their used vehicle, it will never be the same price they bought it new.
• Instead of purchasing a car, you can lease one. Leasing can be a fantastic option to save on the cost of purchasing a new car. You can also get a new vehicle every couple of years when you lease a vehicle. Leasing can also help when the car you are leasing needs maintenance, which is often included in the lease agreement.

The Price of Insurance

Car insurance is required by law in most states. Depending on your driving record and other factors, you can get great deals on car insurance. It is important to research the best coverage for the lowest price. It is worth the time it might take to research to save on your auto insurance.

The Price of Fuel

Looking out for the lowest gas price can be as simple as driving down the street and looking for the best deal you can see. However, there are apps available to most phone users that will help you locate where the lowest gas prices are in your area.

Efficient and controlled driving

You can save money on gas, insurance, and maintenance, by being a great driver if you are careful with driving. Easing to stops, driving defensively, and abiding by traffic laws are all ways you can drive in a more efficient and controlled way, all of which will save you money.

Carsharing and ridesharing

Carsharing is a fairly new concept. There are apps available on which you can share your car with other drivers. You are renting your car to others when you are not using it. Renting your car is another stream of income that lessens your costs.

Ridesharing can also be cost-saving, depending on the area and your usage. There are some discounts for those who use ridesharing regularly, and you save on the wear and tear of your vehicle.

Conclusion

There is a multitude of ways you can save on transportation. Using the above tips are just some of the ways you can save. Many more ways are not mentioned. The main thing to remember is to simply choose options that work best for your needs while saving you money.

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.

Nestlé’s corporate culture emphasizes efficiency and high standards regarding its stakeholders, customers, and the environment. Every day, Nestlé works towards making its products healthier and tastier. Achieving this goal relies heavily on its capabilities in research and development and nutrition science.

Nestlé’s mission is to become the world’s leading provider of nutrition and healthy food. Their slogan, “Good food. Good Life,” reflects their commitment to offering consumers the best-tasting and most nutritious products available.

The company is dedicated to continuous improvement in various areas, including management, leadership, manufacturing, innovation, product development, and research for both new and existing products.

Nestlé has Six Strategies

Nestlé employs six key strategies designed to enhance its market leadership and foster deeper connections with consumers and stakeholders. These strategies focus on harnessing innovative ideas, understanding trends, and ensuring quality engagement, all of which aim to promote health and wellness across its product offerings.

1. Give a front seat to your ideas, and put the sources behind the health and wellness of a leadership
2. Check the opportunity in trends and change
3. Value your consumer
4. Put your stakeholders, and consumers engage
5. Make sure the connection is deepened, consumers
6. Right people and the right capabilities for leadership

The SWOT analysis for Creative and Innovative Management

SWOT analysis is a strategic planning tool that helps organizations evaluate their Strengths, Weaknesses, Opportunities, and Threats. In the context of Creative and Innovative Management at Nestlé, this analysis provides valuable insights into the company’s capabilities and challenges, enabling it to foster innovation and maintain its competitive edge in the market.

Strengths

• Leading the market
• Loyalty in a brand
• Different distribution channels
• Different innovations in the brand
• Skilled labor

Weaknesses

• The target market is only the higher-class
• Operations complexity
• Scandals like child labor, horse meat, etc.

Opportunities

• High credibility
• Potential to spread in small towns
• Trends that are improving
• Leadership to industry
• The partnership can be increased
• Different products and their offerings

Threats

• The biggest competitors in the market
• Raw materials and their increasing price
• Rivals known as Unilever, Master Food, and Kraft
• Products that are the substitute
• Buyers’ bargaining powers

The PESTLE Analysis for Creative and Innovative Management

In this section, we will explore the PESTLE Analysis specifically applied to Creative and Innovative Management at Nestlé. This framework will help us understand how external factors influence Nestlé’s strategic decisions and foster an environment of creativity and innovation within the organization.

Political

• Food standards, marketing actions, and changing regulations,
• The process of internationalization,
• New global changes.

Economic

• Must know economics, inflammation, and levels of income.
• The sudden change of budgets consumers.
• The rise in the price of goods and materials.

Social

• Step forward towards healthy products, supportive, healthy diet
• Changing lifestyle
• Knowledge of the behavior of a consumer

Technological

• Interacting with firms, social media rise
• Through technological developments, innovation is fulfilled

Legal

• Changing the nature of regulation. Change like regulations
• Changes of law from different or across international markets

Environmental

• Increased attention directed toward corporate social responsibility
• Increased social responsibility
• of consumers regarding the environment

Assess the Risks and Benefits of Creative and Innovative Management Ideas

Effective risk management is essential for fostering creative and innovative management. It involves assessing and identifying resources to address unexpected circumstances. Implementing risk measures plays a crucial role in helping organizations navigate the challenges of innovative and creative management. For example, Nestlé is actively working on managing risks across its multinational operations. The company has implemented web-based active risk management systems globally to facilitate information sharing and ensure that teams are updated in real-time.

Therefore, it is necessary to examine all sub-factors in the risk process:

Technological risk

Technical feasibility increases the risk. Advanced technology and obstacles in Research & Development are additional risks in technology innovation.

Market risk

Market risk arises from uncertain market size and competitive industry. Market risk includes customer demands, the economy, and product competition.

Financial risk

Lack of capital and lack of financial management are the most concerning financial risk factors.

External environment risk

External environment risk usually arises from the political, social, economic, and technological environments, which create a gateway to the external environment.

All organizations desire change and growth, but the nature of that change can vary. Change may occur due to external influences or because a company recognizes that it is not operating effectively and needs to implement improvements. Consequently, change models are crucial for organizations. These models help facilitate the implementation of creative and innovative management ideas.

For organizational improvement, the Initiating, Diagnosing, Establishing, Acting, and Learning (IDEAL) model can be employed to plan, initiate, and implement changes. Utilizing the IDEAL model allows organizations to create an environment conducive to successful improvement efforts.

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.

Over the past few years, the number of freelancers has increased, and so has the number f freelancing platforms. It is a result of prevailing digital trends. Professional freelancing boasts numerous benefits for not only freelancers but even large-scale organizations.

Being a freelancer provides a choice of where one needs to work. They can work on projects they like and look for another project at any time. Some people work as freelancers part-time, but many have become professional freelancers. For companies, the most beneficial aspect of hiring freelancers is that they can hire extra workers when the workload increases. They do not have to provide full-time employment, and they can keep them as per project cost. It helps companies lower down the cost of hiring employees.

Today the internet is flooding with reliable freelancing websites. Each of which offers different benefits. Freelancers can choose the one that best suits their requirements. Here is a list of the top 10 freelancer websites!

Freelancer:

The most common freelancing platform is Freelancer. In addition to millions of freelancing projects being posted every second, it provides freelancers to compete with others to prove their skills. Confident freelancers and experts know exactly how to convince people about their skills, and this place is perfect for them. What makes this platform a top choice is its stress-free recruitment process, where a recruiter can go through a freelancer’s portfolio and analyze their skill set. Also, the payment is perfectly secure, and monitoring the progress of a project is easier here!

Upwork:

Upwork is for everybody. No matter what your skills are, this platform has something for everybody. It is one of the most reliable cloud-based freelancing websites, featuring the largest employers’ pool and freelancers. Freelancers can choose projects that are feasible for them. It can be long-term or short-term projects, hourly and per-project paying projects, expert-level, or beginner level. With its profile-browsing feature and chatting facility, it becomes easier to screen out freelancers. The billing process is easier. It is the most efficient freelancer search engine, helps employees narrow down their search to the only type of freelancers their project requires.

Fiverr:

Fiverr is a platform specifically for photographers, filmmakers, writers, and producers. Joining this platform is free. And it is brimming with entrepreneurs looking for freelancers for short-term projects. It is a fully secure platform that features a seller-level system tracking their projects. In return, it provides these sellers a chance to get listed the featured in promotional listings. It also provides a secure communication channel and transparency where a buyer can go through all the information of a seller, and the payment system is protected and simple.

Skyword:

Skyword is a platform specifically designed for content marketing solutions. It is filled with freelancers that look forward to working in the creative sector. It is a pool of talent for organizations looking for graphic designers, videographers, media influencers, and writers. This platform helps people in saving their time by providing a streamlined process of work. It allows a user to design a campaign from the very initial stage. This platform works in many countries, opening the door to international customers, and it also features tools for multitasking!

Toptal:

Toptal is where the top professionals can be found that are fluent in the English language. It is a platform specifically for finance experts, designers, and software developers. It is the right place to hire freelancers for critical and time-sensitive projects. In only three weeks, Toptal finds for organizations the perfect freelancer. The screening process is extremely strict and comprehensive, which only the top skilled can pass. Also, the freelancers recommended by Toptal make it easy for the worker to integrate within the organization. If the recommended freelancer fails to complete the project, this platform returns the money!

Peopleperhour:

It is a platform where freelancers can look for web projects such as web development, SEO, and designing. Numerous features make Peopleperhour a top freelancing website. In-app messaging, proposal reviewing, account management, and invoicing, making it easier for the companies and freelancers to choose the best projects. Managing freelancers has never been this easy, as with this platform, it becomes easier for organizations to oversee freelancer’s ongoing projects. The escrow protection feature is greatly beneficial to analyze if the freelancer is fulfilling all the job requirements.

99designs:

99designs is a perfect platform for not only the experts but even beginners can use it. Its global reach, talented members, and service flexibility are the top features that make this one of the top-ranked freelancing platforms. The 99nonprofit is a highlighted feature of the platform. It can be used by startups and organizations that need the services of a freelancer but cannot afford one. They can choose the best designs through a free contest; they do not have to pay for the design. But the freelancer designer gets paid for their work.

Guru:

Guru is among those freelancing websites that makes it super-easy for organizations to find the perfect freelancer for their project. Right on the homepage, free-of-cost job postings can be created, and the required skillset can then be set. Task management is also very convenient through the dashboard. The paid job postings enjoy the perks of being visible in the top results. The payment method on this platform is safe and secure, helping in making transactions stress-free.

College Recruiter:

As its name suggests, College Recruiter is specifically for college students and recently graduated people. It is an excellent way to jumpstart a career. Many students wish to work part-time to cover their college expenses. With this freelancing website, they can get freelancing projects with much ease.

WriterAccess:

WriterAccess is a platform for freelance writers, editors, proofreaders, translators, and content strategists. Reviewing performance data and reviews is easier on this freelancing website. The buyers can then analyze if a freelancer is worth hiring based on the experience and through their portfolio. It is one of those freelancing websites that offer helpful content creation tools and numerous resources for multimedia.

These are the top 10 trending freelancing websites providing experts to make extra money or work on their own will from home. Freelancing surely is a convenient way to work and earn money, and these platforms provide the right opportunities. Also, it gives businesses a platform where they can look for expert and professional freelancers. It is a perfect place to start a job hunt or hire the best professionals!

 

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.

In today’s digital age, identity theft fraud has become alarmingly prevalent. It affects countless individuals who may not realize they’ve fallen victim until it’s too late. This type of fraud can manifest in various ways. Below, we explore specific forms of identity theft fraud alongside practical strategies to mitigate risks and protect yourself.

Buyer Fraud

Buyer fraud is a frequent occurrence in the marketplace, often leaving consumers feeling vulnerable and frustrated. In many cases, individuals pay for goods that never arrive, losing not only their money but also their trust in online transactions. To safeguard against this, consider the following strategies: 

Avoid bank transfers

Refrain from paying by bank transfer. Once the payment is made, you lose all legal recourse if the seller fails to send the item. Even in the event of a complaint, recovering your money becomes a daunting challenge, often leading to total loss.

Utilize PayPal with buyer protection

If you are unable to collect the item in person, opt for payments through PayPal that include buyer protection. In disputes, the seller must provide proof of shipment; otherwise, you are entitled to a full refund. This added layer of security can provide peace of mind when purchasing items online.

Seller Fraud

Sellers are not immune to deception, and the dynamics can be more complex. For instance:

Goods paid via PayPal but collected in person

When a buyer pays through PayPal and then personally picks up the item, it can be challenging for the seller to provide proof of proper handover. To avoid this pitfall, always opt to send items via mail and retain documentation such as tracking numbers as evidence of shipment. This practice not only protects your interests but also builds credibility in the transaction.

Preventing Fraud in the Workplace

Given that human error is often at the root of security breaches, organizations must prioritize employee education regarding online threats. Here are some effective strategies to foster a culture of vigilance and security within the workplace:

Establish a dedicated cybersecurity email address

Create an email address specifically for cybersecurity inquiries. This initiative encourages employees to seek guidance on potential threats they encounter. In addition, it allows them to forward suspicious emails for thorough examination. This practice not only helps employees enhance their awareness of fraud but also serves as an invaluable resource for ongoing internal training.

Implement an early warning system

Introduce a proactive early warning system that keeps the entire organization informed about emerging threats, such as dangerous spam campaigns. This system minimizes the likelihood that an unknowing colleague will fall victim to a scam, significantly safeguarding both company and customer data. Moreover, it raises awareness about prevalent techniques used by cybercriminals, fostering a collective sense of responsibility among employees.

Host training sessions and roundtable discussions

Organize informative sessions featuring discussions led by experts in IT security, whether from within the company or from external resources. Tailoring these sessions to address the specific skills and interests of different employee groups can enhance engagement. Furthermore, incorporating visuals into the training can captivate the audience and improve their retention of the information presented.

Promote healthy competition

Engage employees with competitions designed to foster safe online behaviors in a fun manner. For example, host quizzes based on training materials, with prizes for top performers. This not only encourages participation but also generates a greater awareness of cybersecurity practices throughout the organization.

Create a comprehensive cybersecurity guide

Develop an easily accessible guide that outlines clear and practical methods for employees to counter cyber threats. This document should cover critical topics such as secure device setups, data encryption techniques, and the steps for enabling two-factor authentication. Ensuring that the guide is straightforward and visually appealing will make it more inviting for employees to reference and follow.

Conclusion

As a final recommendation, consider placing small notes containing key information about good cyber hygiene in unexpected locations throughout the office, such as restrooms, kitchens, and elevators. When employees discover these notes in unconventional places, it can reinforce their learning and enhance their ability to recall crucial information when they need it most—particularly during events like phishing attacks. This creative approach not only builds awareness but also contributes to a more security-conscious workplace 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 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.