Author: Jennifer Brazer

The key figure in an insurance brokerage is the mediator, an independent professional who negotiates the coverage that best suits the policyholder’s needs. The insured’s opinion is clear: they trust brokers more than insurers for personalized attention and the defense of their interests.

The hiring of insurance is not a simple task due to the volume of companies operating in the insurance market and due to the various coverage offered by each of them. Having time to compare and have knowledge of the sector, whether to hire car, health, home, life, death, company, etc. insurance, are two essential requirements to negotiate the type of policy that best suits the needs of each insured.

Having the advice of a person with experience and specific training in insurance matters is the best option to ensure the proper contracting. This professional, known as an insurance mediator, attends a personalized way to the client who processes his policies through an insurance brokerage.

The Term Insurance Brokerage

The term brokerage is less familiar than the insurance company. But those who have had double experience maintain a more favorable opinion towards brokerages than towards insurers. The brokerages arrive to replace those deficiencies that clients find when it comes to taking out insurance. We offer personalized attention; the mediator becomes an advisor: he has the necessary knowledge about the client’s needs, with negotiation capacity, to obtain the best coverage at the lowest price; and always pending maturities”, explains Rubén Rueda.

Insurance Brokerages and Its Importance

Due to lack of time or due to an excess of confidence, negligence once contracted insurance marks the general trend, letting go of the opportunities offered by other companies. Hence the importance that the brokerages are acquiring for their advantages over companies:

• Having an insurance mediator is synonymous with guarantee and peace of mind. It acts as an intermediary negotiating the policies that best suit the needs of the client.
• Direct and personalized attention. After-sales service is represented to the maximum, represented to the client before any unforeseen event that requires the insurance intervention.
• Defense of the interests of the policyholder against the company as mediator acts on behalf of the insured.
• The independence of the mediator guarantees the breadth of the offer. Negotiate the best existing coverage in the market.
• These conditions are met in the best brokerages, which have a clear vocation of service towards the client.

An example of an insurance brokerage is a brokerage in full expansion, which has a team of more than 160 workers with extensive experience in insurance, acting as an intermediary and ensuring its insured interests. In this case, the brokerage has a relationship with the most relevant insurers, and that is why it can offer more adapted coverage to each client.

For all these facilities discussed for the client and for the personalized attention that insurance brokerages can offer, hiring a policy through a brokerage is becoming the best option, as shown by the opinions and ratings of those who have already tried it.

Why you use Insurance Brokerage?

Insurance companies encourage their clients to direct shopping of insurance and saving money without a mediator. However, an experienced broker can help you get reasonable and useful insurance. He/she also helps in navigating the insurance shopping process that can be your practical choice.

Drop your idea of not hiring a broker as you will not save the money amount as you think. Direct insurance pricing can be more expensive than purchasing insurance through a broker. You can contact the insurance company to hire a broker at lower rates as it accurately assesses the risk. Also, you will select a policy that properly insures you. While evaluating a business, owners buy insurance policies via a professional broker. Meanwhile, you will have a lower risk.

Insurance purchase will smooth and easy due to the broker’s help. You can get their services on the phone or online. They are generally proactive about engaging a client after receiving an initial quote. After an initial consultation, acquiring a fast quote should be more consistent and includes insurance brokerage. As a result, you have a quick response regarding mid-term changes. Suggestions of a well-experienced broker save time and money for the customer as they can handle all aspects of insurance.

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 time ago, it became fashionable to talk about emotional intelligence. Suddenly, the concept of emotional intelligence was introduced into our lives to show how little we knew in the most intelligent way to get closer to our own and other people’s emotions. It turns out that this concept has its equivalent within the business world known as business intelligence.

What is Business Intelligence?

Let’s start from the basic definition and answer the following question: what exactly is business intelligence? Business intelligence refers to a set of processes and technologies dedicated to collecting and fast data (or big data) generated by a company’s management system. All this with a very clear objective: transform this information into knowledge that helps and facilitates decision-making.

Okay, business intelligence may seem a bit more technical and less loving than emotional intelligence. But it is what it is. And therefore, it must be taken into account that this type of intelligence is a complex process that works at very different levels within a company.

To begin with, there is the purely operational level at which the decisions of the different workflows within a business structure will be facilitated. But there is also a tactical level where BI will help chart a near promising future for the company (we’re talking about monthly tactics, for example). And finally, it is also important to consider a strategic level in which what is planned is a long-term future.

When these three levels intertwine harmoniously, it is precisely when business intelligence shows its true (and powerful) colors.

Types of Business Intelligence tools

We have already said it when we have defined the concept that concerns us: BI refers to a whole set of processes and technologies.’ So, in some way or another, the tools become the heart of this concept.

Therefore, the first thing to do is ask: in what areas of your company could a good application of business intelligence be helpful? The answer is obvious: in all of them. We could summarize them in five areas.

1. Production to collect statistical data such as production lines or inventory turnover.
2. From logistics to control shipments or orders, for example.
3. Finances that articulate the big data of a company based on various reports (of expenses, costs, taxes, and the like).
4. Sales that monitor customer and product data (and, of course, also the profitability of these two parameters).
5. The possibilities are endless, from marketing to analyzing trends in sales, social networks, and customers to segmenting a company’s potential market.

With all this clear, we could group the tools into three large groups.

• Data management tools. These are all the tools that help in the extraction, transformation, transfer, debugging, and standardization of all the big data generated by a specific area of the company (and even all areas and the interrelationships between them).
• Data discovery tools. These are the Business Intelligence tools that facilitate collecting and evaluating new data (what in English has long been called data mining and is part of the well-known big data ). The idea is that this new information is compared with the existing one to help in the predictive analysis of the company.
• Collecting data (new or existing) in the different workflows of a company is as important as collecting and processing it. That is when the reporting tools come in with which the compiled information is displayed most visually and intuitively possible.

Advantages of a Business Intelligence tool

Returning to the simile with which we opened this article, we will think that if a good emotional intelligence is equivalent to a happier life, an efficient Business Intelligence must be equivalent to happier business life. And the thing is not too misguided.

But let’s spin thinner and talk about the main benefits.

• Using business intelligence to centralize all of a company’s data improves efficiency, as it can optimize diverse lines of work and processes.
• This type of tool manages the big internal data of a company. It combines it with external sources so that its analysis is deeper, and it is easier to make tactics and predictions for the future.
• Being specialized, Business Intelligence tools offer greater depth in the analysis of information.
• Having all the data of a company carefully compiled means not only that problems are seen from afar but that it will be much easier to fix them each time they erupt.
• In the same way, the information collected is available in a history that can be used to enrich the analysis or find the source of a problem.
• Business intelligence takes special care in managing a complete and up-to-date database, which translates into much more efficient customer service. Either through email or another channel.

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.

Do you have a great business idea in mind but don’t have the funds or credit to get financing for your startup? Crowdfunding is an option that more entrepreneurs are turning to for financing their startup. You use the internet as the main source to publicize your project and receive support from potential funders.

When undertaking any business idea that seems viable, you need two types of support:

• Technical support
• Economical support

Technical support and knowledge are essential since entrepreneurs usually do not have enough experience to carry out their project without the corresponding legal, technological or strategic support. Therefore, they must resort to incubators and business accelerators or partner with another company or entrepreneur with such experience.

On the other hand, support in economic terms is essential to carry the project forward. Initially, it is necessary to have a sufficient economic cushion to face the payments during the first months of the business and then remain stable. To cover this first stage, there are many traditional financing options. However, it is not always easy to access them.

Both aspects are important, but the most difficult to achieve is sufficient capital to carry the project forward.

Together we make a great team

You have thought out your business. Then you have to estimate the money you will need to carry it out before launching it. One way to go about it is to go on the internet and ask people interested in investing in your idea. Is something like this possible? With crowdfunding, YES!

Crowdfunding means a system based on the idea that many people cooperate to support one project by providing the finance needed to run the project.

It is a young and fast-growing industry that is changing how people manage and spend their money. It also has brought a revolution in the ways with which startups raise capital.

The Global Crowdfunding Report by Massolution predicts crowdfunding to become an industry worth $300 billion by 2025, estimating a compound annual growth rate of 100 percent in the short term.

Five keys to presenting an attractive crowdfunding project

Now that you know ​​about crowdfunding, let’s look at some tips to help you make your project presentation attractive.

Choose a well-thought-out project: You should always study the possibilities that come with your idea, explore all the financial projections, and consider both the best and worst cases. If you believe you can consider crowdfunding, then go to step 2.

Make an excellent presentation: Once you decide on crowdfunding, you must create a good presentation to make yourself known on the web. Do not forget that you are offering something that doesn’t exist, so you need to be creative and build credibility.

Select a crowdfunding platform: Think about the most appropriate crowdfunding model according to your idea and select the platform according to your needs.

Diffusion and more diffusion: Use your friends’ influence and anyone who can prove helpful in giving your project increased visibility in your close circle.

Update yourself constantly: Remember to report on your project while the campaign is running. Comment through your media about how the collection is going so that more people are interested in continuing to support you. Do this exercise for as long as the project is published.

What do funders earn?

So far, everything looks perfect. But it is crucial to consider what your investors will earn.

This varies from project to project. It is always smart to know what you are offering to people who finance your project. It will be a very important decision, and there are several possibilities:

– Crowdfunding through donations: The funder who financially supports a project through donations does so without any self-benefit, not expecting a return.

-Person-to-person loan: A system in which a business returns the investment to the investor within a set period and with an interest charge.

-Participation in the capital: under this system, the financier becomes a shareholder of the company. This type of crowdfunding is the one with the greatest potential to finance startups.

-Rewards: in this case, you request the money in exchange for the final product as an advance sale. It can also be a gesture, such as a thank you letter, a meal out, a product that the company will create with the requested funding, etc.

Conclusion

Crowdfunding is an equal and democratic opportunity for all kinds of people to fulfill their dreams of creating new projects or companies. Now there are no excuses for not carrying out your business idea.

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 thousands of students across the country that are full of potential to excel in their field of interest. They have the mindset to grow academically, and they set life goals, which aim to help in their development and aid the country’s growth.

These individuals have a passion for moving forward in life, determination to establish a successful career, and an eagerness to contribute to the company’s growth. They still fail to grow and fulfill their academic and professional dreams with all this by their side. The reason is the lack of funding. To acquire a top-notch education and complete a degree program from a well-reputed institute, one needs to have a strong financial backing, something not many students have. It is where the student loans come into the picture.

Student loans have helped millions of students accomplish their life goals and are still helping shape the future of those who possess the drive to excel and passion for succeeding. After graduating from high school, students struggle to decide whether to opt for student loans or give up on the idea of further education. One of the most dominant reasons here is the failure to understand what student loans are and how they can help.

For all those at that phase of life where they have to take one of their biggest decisions, they need to start by building a complete understanding of these loans.

After completing high school, students opt for financial assistance that the government or private entities provide. These loans are a form of financial assistance that a student uses to pay for all the fees associated with their education. These include but are not limited to tuition fees, books, school supplies, living expenses, and all other expenses related to their education.

When it comes to repayment of these loans, students can pay it off after their grace period ends. The grace period is the time that a student takes to complete his college education. Once this period ends, students need to start repaying it.

Exploring the Types

When the thing to note here is that there are various types of student loans, each of these is appropriate for a certain type of situation. Not all loans are not federally backed; some are set for needy students, others offer low-interest rates, and sometimes even borrower protection.

Federal Loans

The federal government gives federal loans to students who are unable to complete their education. There are three major types of federal loans, including Stafford’s loan, federal, Perkin loans, and federal plus loans.

Stafford Loans

The government offers federal Stafford loans. These are funded by government assets and offer perks such as lower interest rates and a favorable repayment structure. These are not a burden for a student, and they are given a specific period to complete their education.

There are two types of Stafford loans.

Subsidized

These provide long-term loans based on a student’s need. There is a low interest rate, and the government pays its money when a student is in school. These are suitable for students with financial troubles.

Unsubsidized

These help students who are independent, which means the borrowers, in this case, receive no additional perks.

Federal Plus Loan

These loans are funded directly by the federal government. Unlike other student loans, they have no maximum limit and can be used for all forms of academic costs. The grace period for these loans is shorter than federal Stafford loans.  

Private Loan

A private student loan is a form of personal loan, which means that a borrower acquires the loan through their bank and credit union. These are not federally backed loans. To borrow this loan, students require general credit history.

They usually come with much higher rates of interest as considered to a federal loan. It is not a suitable loan for a student. Private loans end up on the student’s credit report if he or she is late or cannot pay, but there is a lot more at risk. 

Conclusion

Student loans come as a huge blessing for all students who wish to excel academically. It is best to consult a professional who can guide students to choose the loan that suits their needs. Understanding all types is crucial, and it better to draw a repayment plan before the grace period ends so that the process ends smoothly.

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.

Any business needs to increase its productivity and grow in the medium and long term to avoid losses and possible loss of the business. Business growth is the key to any successful business, no matter the size it is. Here are seven keys to increasing your business growth.

Use hook products

In the digital environment, the hook product captures a user’s attention who browses the Internet and stumbles upon what you are offering. If it’s interesting, it might catch your eye and stop you. To access the product, you will have to leave your data, and from there, a relationship of trust will be established through the various communication channels.

The hook product is a strategy widely used by online and offline businesses. Still, it is not always effective because of its acceptance. The hook product has to be free – or much cheaper than regular products – and of great quality for it to work.

Lower the cost

Lowering costs is an objective that we must always keep on the horizon since it brings several advantages to the company: it optimizes production processes and allocates resources more rationally. It helps to offer a better price than the competition.

Increase traffic

This point is especially relevant in companies that depend on the online channel to make sales, which today occurs in almost any company. The idea is that the web pages related to the business, its social networks, and its promotional videos are visited.

The more traffic goes through our channels, the more chances there are that the conversion will materialize. It is the logic of the physical merchant. If nobody steps into my store, it is difficult for them to sell any product. One of the most recommended strategies is content marketing, providing value that goes beyond the simple sales claim to increase traffic.

Omnichannel

In addition to increasing traffic on our Landing page, it is also important to adopt an omnichannel: managing all possible sales channels. The more options for the customer, the better; in this way, trust with the client will be generated, which will be key to the business’s good health. The essential idea is to turn the sales process –online and offline– into an experience; if that experience remains in a single channel, it will not be completely complete.

In the section of the sale itself, it is important to offer as many options as possible: eBay, Amazon, Shopify, etc., as for commercial platforms, or debit/credit cards and Paypal in the case of payment methods.

Take advantage of the sales

Regardless of the sector in which we operate, the sales season can be a good alternative to boost sales. It no longer works only in clothing but has become a cross-business strategy for all markets. A clear example is Black Friday, which is becoming increasingly popular in the technology sector.

The sales seasons or days are used to reach consumers who, in normal season, are not so absorbent. They allow the sale of certain products and increase the rotation of the stock. Also, a good marketing strategy in these days of high consumption can help position us for the rest of the season.

Flexible pricing

Product prices are constantly changing, so you should not be reluctant to play with the prices you offer to adjust to market demands. An immediate price increase will generate income and profit if that increase does not hurt sales. By contrast, a price reduction will stimulate sales and steal customers from the competition.

Changing prices serve to shake things up a bit, break the market status, and gain or move up positions in the list of companies offering similar products/services. Another interesting strategy for increasing turnover is to periodically raise prices, as customers rarely protest against slight increases.

Understand the customer

Customers are the foundation of your business. Without clients, there is nothing. Categorize customers based on the income they generate for your business. Once you have done this process, focus a large part of your customers on keeping these types of customers at ease, providing them with offers and customized products.

A good strategy for attracting customers is creating a Referral System since we are always more receptive to something that a close person recommends.

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.

Know the Market:

One of the difficulties of selling abroad is building a solid network of distributors or representatives. If it is already difficult to find the right companies or professionals in Spain, how can you do it in a country where you do not know the market and its components? This search can be complicated and expensive if done in person, frustrating if you try cold-calling, and devastating if done by email.  This is where LinkedIn starts to be useful. 

In a network with more than 500 million users, we can find the right companies and professionals in each country, all from your computer or phone.

LinkedIn is especially useful for Small and Medium Enterprises (SMEs) that need to open to foreign markets but do not have the financial capacity to maintain a department or staff dedicated exclusively to this objective. It guarantees the location of the companies that interest us and employees who can make a decision in reference to our product.  This allows us to establish “personal” contact with them and generate a climate of trust.

Most digital commercial companies know these techniques and try to use them, although they use them individually and according to their particular criteria. However, there are already companies specialized in offering this type of service externally and provide method, continuity, and measurement of results.

For Example:

This is the case of Internet business consultancy 3dids.com, which works to locate and contact potential clients or partners for Spanish SMEs looking to sell their products in Europe. These are industrial companies, shoe manufacturers, and even technology companies. According to its CEO Andrés de España, “The results of the social selling to a prospect, clients, are surprising, but also the contacts are of high quality and the commercial ones, when they sit down with the possible client, do it before a person who knows the product and is interested in our proposals.”

How Long Does It Take?

According to an analysis conducted by 3did.com, obtaining a base of 3,000 possible customers through social networks that result in up to 200 business meetings can be achieved in a period of 3-4 months. Comparatively, 3,000 cold calls would not generate more than 15 contacts of interest, while e-mailing those contacts would be reduced to 7 or 8.

The Method

The first task is defining the company profile and appropriate position for each commercial proposal with the client. Once defined, the LinkedIn search engine will help us locate them efficiently.

The second step is to contact those profiles and ask them to be members of our network. It is essential that a person makes the requests and that they are upper management. When establishing contact, you should try to be as personal as possible; consider the language, be educated, show that you are interested in the work, and offer a brief explanation of why you want to have them in our network.

When faced with a request for professional personal contact, educated and argued, 70% of people respond positively, which allows us to create a qualified database. Once contact is established, you must keep it alive and build trust. To do this, you must have a conversation in which you will try to know the company’s characteristics, needs, position in the market, and even ask how the product is good for the new country or sector. LinkedIn is a professional network; therefore, any interaction in this field is usually accepted willingly, provided it is not blatantly commercial. An adequate content marketing strategy helps build trust.

To be successful, it is necessary to maintain the conversation and follow a strategy that allows you to discard profiles when not interested or not appropriate. You will also detect those cases in which the proposal can solve a potential client’s need or be a win-win for our contact. Only at that moment should a call be made or even a meeting arranged by the commercial department.

With this technique, you will have achieved 3 objectives: 1) Locate the right people and get in touch with them in any country in Europe or another continent 2) Know if their characteristics, situation, and circumstances place you as a potential goal for a relationship win-win and 3) Get a business meeting without the rejection that usually comes from a cold call.

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.

It is effortless that we spend a lot of money to go out with friends or with our partners, but we must be clear that this will take its toll at some point and more if it is the money that our parents give us. That is why we are considering some of the best tips to save money, even for youngsters. They will help you manage your finances better, opening you the possibility of kneading the capital that can become your fortune in a few years.

The six best tips to save money young people

1. Open a savings account or fixed-term account

This type of service, offered by banks so that young people allocate a portion of their income to it, and so, you will always have money to buy something you need at some time. That’s why it is the best tip for youngsters. You should follow it from your childhood. If you have a habit of saving money from that age, it will be difficult for you to save money.

You will not need to pay interest if you have a saving account. However, you will pay interest as per your wish. Bank charge from your resources according to the fixed terms of your accounts for a specific time. In this way, you will also pay a specific amount of money in interest.

2. Save 30% of your income

If you are very young, or even if you have already begun your path to independence, you must allocate an excellent economic item to saving. Experts recommend a saving amount of around 30 percent. It is the amount that you spend without purpose. If you want to save a specific amount from your monthly income, you have to sacrifice unnecessary activities and expenses. As a result, you can save your financial status on rainy days.

3. Avoid getting into debt

If you don’t need to do it, don’t do it! Plan your expenses well. As a result, you will not need to borrow money from anyone. If you don’t work for it, it will cause discomfort and affect your monthly income. Remember, you must pay your debts.

4. Save the change and any extra income you have

It is one of our best tips to save money, young people that will help us to have something in our account.

The change you have leftover from the things you buy is essential. You can store it in your savings account for future expenses.

5. If you live alone, cook your food and do not spend on street food

If you are a person who lives alone, try to save by buying food at the supermarket and prepare them yourself. If you do not know how to cook, it is time to learn so you do not have to spend on fast food, which can be very cheap, but it adds a lot of money in the long run.

A package of rice or pasta can last a week. It is a half cost that same as a hamburger on the street for a day. So seriously, consider changing your habits if you are used to eating in the street.

6. Be more aware of night departures

Youth comes with the motivation to go out at night to dance or drink and share with friends. Try not to make this a practice every weekend.

You can entirely be social and go out, but taking into account that you cannot spend too much, since you would disorganize your accounts for the other things you need per month.

7. Avoid expensive purchase and try alternatives 

Young people usually fond of purchasing vehicles or houses as they make savings for several years. But they failed due to a struggling period. That’s why they have to survive on rent and public transportation on their way to the workplace. Through online exchanges and apps, they buy used or refurbished items that are expensive. If you still want to make big purchases, you will have extra money for savings, including emergency funds or retirement savings.

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 successful women in the world who balance their personal and professional life together like a pro, and if you have been struggling to get your balance, here are a few tips you ought to consider stepping into the world of entrepreneurship.

Work Hard

Being a mom is tough, and starting a venture with it is mentally draining. Now that you have decided that you are taking this entrepreneurial game for real, striving harder is mandatory. Truth be told, if you do not work hard, chances are you will only put your efforts to waste. As you will be taking care of your child, you will have to put extra effort into your work. From time management to making yourself disciplined ought to be your priority.

Do not Despair!

 If things do not go as expected, try again, the point is that you do not lose that business vision you have always had in your mind. There will be times when your work will not reap your expected profits in the first few tries. And that is when you can lose hope because with all the effort you put in, your position might go down the drain. Yet, if you do not give in to your hopes and dreams today, tomorrow is just a step away.

Ask for Help

 If you have doubts about your business, turn to people experienced in the subject. Ask for help, go out in the world, and look for experts in your field. Chances are you will find something to learn from them.

Prepare a Business Plan

Organizing your work and plans is a great way to start your venture. Prepare a business plan and see where you stand as per your resources. With a business plan, your ideas and vision will be aligned, and you will mission will be sorted, making your work more comfortable in a lot of ways.

Find Your Balance

Striking a balance is all you need when you start an entrepreneurial venture while having a child. Balancing your work and relationships can take a toll on your mental health, and chances are you might want to leave everything. However, with time, once you will get everything sorted, the profits and the income you will generate will make all your efforts worth the struggle.

Get Informed Today

Now that there are several advanced ways to get yourself aware of various subjects, ignorance will only lead you to severe repercussions. Find what you want to do and learn about all the nitty-gritty involved in your field. And, even if your venture does not turn out as planned, your knowledge will come back to you someday.

For some women, life revolves around their children and partner. While there is nothing wrong with that, still, you have a lot more to give to this world than just living a privileged life. How about you decide on making your dreams come to life and put all your effort and energy into them? Chances are you might succeed, and your aspirations come to life.

Maximize the Use of Your Capital

For a stay home mother, or a working lady starting on her first entrepreneurial venture, its capital has its utmost importance. You cannot set your business unless you are low on your resources. The maximum utilization of money is a problem most entrepreneurs overlook. You can have all the resources in the world, but if you do not utilize your capital to its full potential, all your efforts will be of no use.

Summing Up

If you are a mother and have been planning on starting an entrepreneurial venture, now is the chance to start one. Choose a subject, pick on a niche, gather your resources, and get on with your work. Chances are, you could be just a step away from making your dream come to life.

 

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.

Technology is transforming people’s lives and has impacted different sectors of the economy, including the financial system. In this sector, specifically, technology has played an important role in transforming relations with users and in the progressive disappearance of cash.

The use of new technologies in the financial system demonstrates that this progress is already a reality. These are the main digital trends that are modifying the financial sector:

Big data and analytics:

A large amount of information, the speed with which it arrives, and the complexity and diversity have given rise to the term Big Data. The important thing about Big Data is the collection of all this information and what is done with it. Today, financial institutions use Big Data and the analysis that comes out of this information to make transcendental decisions for companies.

Virtual banking:

Large banks have leaped into the digital world, creating platforms that allow transactions, payments, purchases, and paperwork at any time and from a mobile device. The Financial Superintendence affirmed that in 2018, more money was moved in digital financial services than in bank offices for the first time in Colombia. More than 6 billion operations were recorded through digital channels.

Blockchain:

The Blockchain, or blockchain, is a technology that structures data and encrypts information to secure digital money, facilitates information retrieval, stores files, among other functions. At first, it was born to protect virtual currencies. However, the financial system is being obliged to incorporate this technology into its operations, facilitating negotiations, collaboration, and trust between the different actors.

Artificial intelligence:

Artificial intelligence is responsible for designing tools that emulate the physical and reasoning capabilities of the human being. These tools recreate human procedures, such as learning and reasoning. One of the uses that the financial sector gives to artificial intelligence aims to personalize the services of customers.

Cognitive technology:

Artificial intelligence helps financial service businesses in covering all their diverse aspects. It can best and helpful cases in the industry. Financial businesses already have high computing and cognitive abilities. They manage risks, identify data patterns, and detect fraud with the help of artificial intelligence. In this way, they make decisions with the least human intervention. Also, AI helps customers perform budget analysis, get a saving suggestion, realize the best mobile banking experiences and digital payment.  

Conversational chatbots

Chatbots were useful technology but lost their value as they can’t deliver experiences like humans. The integration of AI in Chatbots rebuilt their charm and usefulness. By the end of 2020, AI-powered Chatbots can handle 85% of interactions among businesses and customers. Financial services businesses use conventional AI solutions to send humanized experiences to clients. Database and current interactions help in growing and learning AI-based chatbots. In this way, financial service providers bespoke replies to client queries, perform beyond expectations and give relevant suggestions.

Online perils and financial crimes

Complex and sophisticated financial crimes are unsafe from traditional prevention techniques. That’s why financial companies need advanced technologies for strict protection. Analytics and Artificial intelligence are best to improve detected fraud and threat visibility effectively. Eight out of ten financial service providers believe that embracing new security-related technologies is faster than the previous ones. American banking sectors can lose their $350 value due to cybercrimes in the next five years.

Cloud computing 

Mobile banking meets all demands, online insurance transactions are going on, and tech-savvy clients are fond of digital wallets. Financial service providers got access to such proceedings. Now, financial businesses can get all of these facilities by cloud computing technology seamlessly.

The digital-powered sharing economy never sleeps as their clients want to connect smart devices, communicate, and 24 hours transactions. That’s why cloud computing encourages mobility in a true sense. As financial businesses have many expectations from cloud computing technology, it helps them keep up with the digital-born client pace. It has instant access to data and offers on-demand computer resource availability without direct management via the user.

These trends demonstrate the change the financial system is experiencing. The new digital generations are increasingly visiting bank offices. The step towards digital is a reality, and the financial system is moving towards the virtual world.

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.

Obtaining funds for a startup is vital to sustaining the project. This makes it possible to recruit competent people, buy the necessary tools for the company to function properly, and increase the credibility of the brand.  Funding is important when we consider 8 out of 10 startups go bankrupt because of financing problems.

The biggest challenge for a startup is to finance quickly and efficiently. This is a complicated step as investors want to ensure a return on their investment and are reluctant to lend money to a newly created company.

How to finance a startup

There are several ways to raise funds. Some are faster than others but can recover less money. Therefore, it is important to understand financing steps and choose the right source of funding so that you do not lose time and can increase your chances of success.

It should also be considered that some funding sources are only possible once your business has reached an advanced stage. So, here are some possible financing options.

Self-financing

When we have an idea in mind, we must try to realize it quickly, even if the product or service is not yet finalized. This allows you to quickly test the idea on the market and avoid wasting time developing a product that does not work with the public. To launch your idea, you will probably need to use your own funds and self-finance at first.

So, be prepared to self-fund, especially at the beginning. If your company has several co-founders, each one will generally bring money up to his stake in the capital of the company.

Love Money

When you have a draft product or service, you can then try to recover money from relationships (your family, your friends). This is called Love Money. If your relations require no repayment, you can still offer parts of your startup at a preferential price.

Business Angels

Business Angels are often the first people that you will contact to obtain financing after your loved ones have contributed. They are individuals who invest in your personal business to make a profit if your startup takes off. They are generally able to invest between $150,000-$500,000.

Venture Capital

These are investment funds that contribute to unlisted companies that are still young. They invest the money entrusted to them by others whom they have convinced beforehand.

First employees

The first employees can be paid by accepting a lower salary but by obtaining shares in the startup in return. They are counting on the success of your business.

Investment Banks

At this point, the investment banks can then act and make an IPO (Initial Public Offering) of your company.

The Public

Following the IPO, the general public can buy and sell shares in your company. It is also easier for the founder of the company to sell his shares.

Develop a Business Plan

A business plan is a document that must be created in the initial stages of a business venture. It contains all the information about your future business and aims to appeal to investors. Presentation of the team, product, market analysis, competition, and financial forecasts is highlighted in this document.

It is very important to present a perfect business plan to investors to demonstrate the seriousness of your project. Without a strong and well-crafted business plan, it is almost impossible to raise funds.

If your forecasts are utopian and unworkable, or you have no way of distinguishing yourself from a competition already in place, there is a good chance your investment request will not be successful.

It is also helpful to read your business plan to your loved ones, see what they think, and determine how to make them understand what you need financially. Indeed, the business plan helps develop an idea. Having this document read may give you further insights into the project and save you from making a big mistake.

Do not neglect the business plan. It is a central element to obtaining financing for your startup and is an important element to evaluate the potential of your idea.

Networking

Your network is important! You must never stop expanding and deepening it. Indeed, it is easier to set up a business when you have good contacts.

Lawyers, accountants, business leaders, executives, employees, freelancers, bankers, investors are all profiles that can be useful to develop your business.

Through advice or services at preferential or free rates, you will be able to easily manage your business. Be careful, though; networking works both ways; you must give to be able to receive help in your network.

Keep building your network over time. The more your company gains visibility and credibility, the more you will meet competent and influential people. Feel free to help when you have the capacity, and your network will be more stable and trusting.

Conclusion

Financing a startup is not the simplest step, but it is important. Without money, it is difficult to advance at a suitable pace and to obtain resources.

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.