Author: Jennifer Brazer

2020 was quite peculiar in a lot of ways. Who would have thought that a global pandemic could put the entire economy on hold? Millions of people were forced out of jobs; it changed how we function and forced numerous companies to innovate to continue working and keep businesses open. We do not have to highlight the massive disruption after the pandemic.

Despite all hardships, we can all agree that 2020 was also the time when the world came together as one and helped each soul in whatever way seemed possible. Companies offered work from home to their employees, which has brought a significant change in the way we look at office life. Who knew you could manage everything so well, work hard, get the tasks done, spend time with family, and still have enough for yourself? Here are some of the benefits of working from home.

Better Work-Life Balance

Most remote jobs come with a flexible schedule, meaning that you can start your work and end it whenever you want while staying back at home and managing other things in life. Whether it is dropping the kids at school, attending online classes, hitting the gym, running some errands, or just staying at home for other chores can all be balanced when you work from home.

Location Independence

One of the best factors and considerable benefits of working from home is having access to jobs with better opportunities that are not limited by geographic location. Now, having no set job location means fully remote workers can travel and live as digital nomads and keep their meaningful careers. People who require constant movement from one place to another because of their job can also benefit from a remote job that they can continue from anywhere without worrying about travel expenses and wasting time.

No Commute Stress

The Auto Insurance Center states that commuters spend more than 100 hours commuting and 41 hours in traffic every year. The extreme commuters face a longer commute time of 90 minutes or more. Wasting your time on traveling is a downside of going to work and coming back home. According to multiple research pieces, more than 30 minutes of daily one-way commuting is associated with anxiety and increased stress levels. Some even state that commuting 10 miles to work every day is linked to health issues. They are:

• Elevated blood pressure
• Higher cholesterol
• Increased risk of depression

When you ditch traveling, you support your mental and physical health. Spend more time with your friends and family instead.

Recruiting Trends for 2021

Companies have already started to feel the impact of COVID-19 quite well in 2021, and it will affect the year’s hiring strategy, which is why companies have some significant hiring trends to look out for in the year 2021.

Now that the entire world knows that employees can take their work home, they are not left with enough excuses to stop them. Before the pandemic, people were asked to get done with their work in time and at work. It grew tiresome for most, which dropped productivity. At the same time, WFH has increased productivity and efficiency. The companies have allowed their employees to continue working from home and came up with some recruiting trends for 2021. Let us discuss them in detail.

Emphasis on Digital Recruitment

Video conferences on Zoom and Skype have become a primary means of communication. In-person job interviews came to a halt. Companies were asked to put a little more emphasis to hire on digital recruiting strategies, which is continued in 2021.

Insights from LinkedIn states that 81% of talent experts agree that virtual recruiting will remain even post-Covid-19 & 79% of talent experts say virtual recruiting will also soon become the new normal.

Virtual recruiting involves an expansion of using:

• Social media recruiting
• Video conferencing for meetings & interviews
• Gamification
• Digital screening and assessment tools
• Artificial intelligence

With this hiring strategy, companies will need to pay attention to virtual candidate engagement and create a strong candidate experience online.

Remote Job Opportunities

2020 has proved all those wrong who believed that remote jobs are not mutually beneficial. Employees have more flexibility and seek roles outside their local area. Companies can expand their talent pool and try reaching out to a more diverse group of job applicants. It is essential also to regard your candidate’s mental health – the majority prefer a permanent remote job, which should not be a problem for companies anymore.

Flexibility

How we work and have flexible work schedules is extremely important for applicants over the past year. 2020 has proved that providing people with the ability to work from home and a little flexibility is possible and practical. Most employees proved to be productive when WFH. Some companies and industries have already started offering candidates this option since remote work has become normal in 2021.

We are all looking forward to this new year as recovery and relief from the novel virus as the country reopens. Expect business technology and compliance shaped by talent acquisition instead of the other way around. As recruiting companies, we have the chance to make a profound impression, so we must strive for the betterment of the economy worldwide.

Conclusion

The Corona Virus has changed the way we live and how we travel. Covid19 has brought ominous feelings about the future. Who would have even guessed that the industries and the world would have to face a crisis as severe as the pandemic in such a brief time?

The insidious virus has cast a pall of fear, gloom, and demise throughout the world, leaving regions and countries without strategies and ways to deal with the pandemic. The local and international health organizations and the governments are taking responsible actions and responding at differing speeds to spread the deadly Corona Virus.

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

If you check your spam tray, you are likely to find hundreds of messages from supposed banks or online stores that will ask you to verify your account, threatening that it could be canceled. Other messages can tell you that you have won a prize and you must provide your bank details to receive it. In short, there are hundreds of ways criminals seek to get your personal information online.

This type of fraud is known as phishing, a modification of the English word fishing (fishing) because what they are looking for is to function as bait to try to catch a victim. What happens with these messages is that they contain links to fraudulent sites or have software that will allow criminals to access information on your devices. Once you arrive at these sites, they are usually almost identical to those of your bank or store in which you have previously purchased, so you enter your data without worrying without knowing that in minutes you will be victims of a robbery.

What is Phishing?

It is a cyber breach in which hackers contacted targets via email, telephone, or text message. They pose themselves as a legal institution to drag attraction to theft their sensitive data. Personal information includes identifiable details, banking, credit cards, and passwords. After that, they access important accounts with the help of that stolen information. As a result, the digital platform owner will suffer from identity theft and financial loss. Legally, a phishing lawsuit enforced a Californian teenager who made the restrictions of the American website online. He stole sensitive information with this fake site and reached the credit card details to steal the money from their accounts. There other cybercrime techniques such as Vishing (voice phishing), smishing ( SMS phishing ), etc.

How to protect yourself from phishing?

Fortunately, it is remarkably simple to do so. The golden rule is never to enter links that appear in an unknown email and much less those that request to enter your private information. If you receive a message that you think is suspicious, go directly to the page of your bank from the search engine or communicate by phone. This way, you avoid the risk of going to a fake page. There are other very important tips:

• Remember that banks never send urgent emails derived from security processes. Nor do they send emails where they request our passwords and passwords for any reason.
• Please pay attention to the address that appears in the address bar, and make sure that it corresponds to that of your bank. Sometimes these links send you to identical pages, but the address of the bar does not correspond. They are usually addressing sites where one can create a personal web page or free web hosting.
• Verify that the page is secure and check what security certificates you have. Confirm that the Internet address begins with https: and that at the bottom of your browser, there is a lock icon that indicates that the page is safe to transmit our data in it. Otherwise, your information will travel publicly. Verify what encryption protocol this portal has (it must be at least 128 bits) and its certificates.
• Never carry out transactions in cybercafes or other public computers as your information may be recorded. Nor through free Wi-Fi networks because someone else could be seeing your information.
• Always use a firewall as well as programs that verify the non-existence of spyware (spyware) on your computer.
• Have strong passwords (with more than eight characters, other than dictionary words, including uppercase, lowercase letters, numbers, and symbols).
• Change your access codes frequently.
• Remember that your password must be unique for each website, and it must be secure.
• Usually, hackers send emails by masked. They appear when they send emails through the recipient business. You should update your account within a specific time duration. Otherwise, the bank will not send a message for your data through email. Then, it will suspend your account. Also, financial institutions typically offer account numbers or other private information within the emails. Only make sure either it is coming from a reliable source or not.

 

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.

Throughout our life, we ​​will need to earn money. And that’s something they do not teach us in any school. They do not teach it to us in any university, either. They only give us knowledge of all kinds throughout our lives, and this knowledge is usually of very little use to earn more money than the average person.

Knowledge and qualifications can help us get a job, so we would be making money with the first way to do it, which is the one used by the vast majority of the population. And this way of earning a living can become very dangerous because if one day it disappears, we are left with nothing.

The 3 Ways you can earn money throughout your life

1. First way: Exchange time for money

We talk about working for someone else, which is choosing to offer our time in exchange for money. There is nothing wrong with looking for life in this way because empires are assembled thanks to the fact that a person in a business can find people who join his company and who work for him.

In the absence of people willing to exchange their time for money, it would be very difficult for us to maintain the figure of the entrepreneur.

Of course, this way of making money is very risky from an investment point of view. That is, an investor is taught that he cannot put all the eggs in the same basket because if the investment goes wrong, he is left with nothing. And that happens with paid work. We put all our time and future into a job. We charge debts because, in the next months, they will compensate our time with payroll. We plan for the future with the expectation that we will receive a check from our employer.

In other words, we have bet everything on this investment. If tomorrow closes the company, there is a restructuring of the workforce or, simply, your boss decides to fire you, the problems in your life begin, and you have to look for another place where you can exchange your time for money again.

2. Second way: Invest money to earn money

Sounds good. Many who use the exchange of time for money save to be able to move to this form. Only a few, the truth, because the truth is that most fail to save anything by not having a financial plan. That is, people adapt standard of living to maintain the level of their income.

However, to earn money this way, you must have gone through the first form. We talk about using money we have to generate more money, either with investment in the stock market, investment in real estate, etc.

3. Third way: Multiply the time to multiply the money

But how? If we all have the same time. On the one hand, it is here where we can use leverage, which is the main feature of the people who earn the most money. We can use the time of other people, the resources of other people, and the contacts of other people. We could also call to create a scalable model, which is that with the same time and effort, we can increase our income.

Who wishes to do a struggling 9 to 5 job to pay expensive rent in New York or when you can earn money online well? The office will be anywhere when you open your laptop. As a result, the majority of people are leaving their jobs to do remote work. The report of Global Workplace Analytics and Flex Jobs reveals that the remote working ratio increased by 195% in 2005, and this rate grew by 50% in 2020. All of this possible due to the easy access to making money online. The statistics also further indicate that remote working trends enhance the rate of female entrepreneurs. As a result, the wage gap has closed. The useful advantage of earning money online is that you can work from home or any corner of the 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.

The phenomenon of flipping houses can be quite a temptation and hard to resist. However, not every venture results in a profitable outcome. Every real estate agency or house-flipping hopeful must adhere to a prudent process of flipping if they want to yield a positive return on their investment. Before deciding to invest and flip houses, there are three situations one must carefully consider to obtain and increase market intelligence of the county in which they are currently residing: death, divorce, and downsizing. Here the concept of downsizing implies downsizing of employees through layoffs or workforce downsizing. This should not be confused with the concept of downsizing in the context of real estate, where downsizing refers to downgrading your existing house to a less expensive home.

Real Estate Investors or firms look for the three essential circumstances of death, divorce, or downsizing during the process of flipping as described below:

Death

In the case of death, there is a strong probability that the deceased’s successors will want to make a quick decision and liquidate tangible assets. With emotions running high and acting in tandem with rapid selling, the new owners may want to sell the property as soon as possible and at a price below the assessed market value. For example, a property valued at $200,000 could be for sale at $100,000 or $125,000. Therefore, due to emotional stress and panic selling, the owner will accept almost any price to sell the house. At this time, the real estate investment agencies or individual investors should leverage the situation, seize the opportunity, and purchase the property at a lower price.

Divorce

The second happenstance that can enable a house-flipping purchase is when a couple is going through a divorce. Divorce has a significant impact on emotional decision-making, and it is estimated 40% to 50% of couples in the United States will end their marriage in divorce. Once it is finalized, then comes the aggravating process of paying out alimony and dividing assets. At this point, one party inevitably becomes emotional and may decide to sell their property. The husband will take into consideration the amount for alimony and how he will stand fit financially. When considering all unavoidable costs and payments involved in divorce proceedings, the property owner may be increasingly inclined to sell their home immediately.

Consequently, they may be compelled to sell the house at a discounted price and below the assessed market value. Although the process of divorce is private and personal, a well-connected broker will have a network of friends who can supply information that is applicable to the market database.

Downsizing

Workforce downsizing is not a new ordeal in the era of globalization. Whenever the organization or a firm has been vulnerable to an economic downturn, the most common response is to downsize to save costs and maintain the profitability margins. If an employee has taken a mortgage on their house and been downsized, they have two options: either the person can simply call the financial institution and declare bankruptcy or actively try to liquidate assets, including selling their house. If he chooses the latter, he would either contact real estate agencies or put up an advertisement of the sale in the local newspaper or any other medium such as social media platforms.

When thinking about how to obtain properties to purchase and flip, consider searching for properties that are on the market due to a death, divorce, or downsizing.  In many cases, the sellers in these situations will be motivated to relinquish the property and will often do so below the assessed market value. 

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 question of when to sell an Initial Public Offering (IPO) is often asked. Indeed, the psychological biases of fear and greed hinder us also make us commit serious mistakes. 

If most private investors lose money on the stock market, they often give in to their emotions.

The Worst Time to Sell

When Guided by Fear

Let us examine the example of the subprime crisis of 2008. Many people were ruined because they gave in to fear by selling their positions in large capital losses. If they had resisted, they would have doubled their capital today.  However, few people have been disciplined enough to maintain their positions. These investors should have continued to finance the best quality actions. This would have allowed them to take advantage of the strong recovery of the stock market since 2009.  The stock market will always go up, but it also consists of a succession of bullish and bearish cycles. It is important to determine approximately what phase we are in to limit errors when we invest.

When Motivated by Greed

Another classic mistake is to be trapped by greed. All stock market investors have the same goal: the lure of profit. They, therefore, tend to make two recurring mistakes:

1. Resell too soon

Many resell their winning positions far too early for fear of losing their small gains. This happens, for example, when you enter a position and everything goes as planned when you buy quality stocks. Their prices are appreciating for good reasons (solid fundamentals, attractive valuation).  After having gained a few percent, you say to yourself, “Well, I’ve already increased my value, so I’ll take my profits.” As a result, you sell, and in the weeks or months that follow, the stock continues to rise strongly. Unfortunately, you have then missed most of the increase in profit.  The important thing when buying stock is to set a goal to sell and stick to it. Using valuation methods, you know the fair price of the stock. As long as that price is not reached and no other fundamentals have changed, you must stay in position.

2. Invest in volatile “casino” shares

If you invest in the stock market, it is because you are willing to accept some risk to grow your capital. However, this risk must be mastered. Most people are impatient to make “jackpot” winnings. It can happen, like at the casino, but remember that you do not control anything.

To quote Warren Buffet, “You only have to buy what you understand.” Many investors laughed at him when he announced that he did not want to own stocks in the Information Technology sectors. When the Internet bubble of the 2000s arrived, technological actions collapsed. Warren Buffet was the only one who could remain unphased. No one can guess how an ultra-volatile action will behave. Investing requires patience. If you cannot wait, put your money on an active management fund or Exchange-traded Fund (ETF).

The Best Time to Sell

To quote Mr. Buffet again, “The best duration of holding a share is forever.” If the fundamentals remain strong year after year, and the profits are only growing, why want to sell?

As long as the business creates wealth, its price will rise. There is, therefore, no reason to part with it. However, there are two main reasons it necessary to sell one’s shares.

Fundamentals have deteriorated

If the basic reasons you had for initially buying the stock are no longer true, you must immediately sell.  It will be necessary to look for what part of your reasoning was wrong to produce this error.  Perhaps the fundamentals were good at the time of purchase but deteriorated. In this case, the first question to ask is simple, “According to the current fundamentals, if I was not already a shareholder, would I buy this stock?” If you hesitate, then the answer is no, and you must immediately sell the action in question.

The fundamentals are good, but the valuation has become too high

If the company you bought is good, but its valuation has become high, it is already good news. Or, if you bought it at a fair price, it means that you have already made a good profit. However, you are not the only one to have noticed the company, and its course has gone well above its fundamentals. It has become overvalued.  Maintaining such a position would be dangerous. When it returns to its average, the fall will be strong and fast. However, it would be a shame to sell it while its price is in a full uptrend. It will, therefore, be necessary to use technical analysis to sell at the best time.

Conclusion

To summarize, you have to sell when:

• The fundamentals of the company have deteriorated. If the reasons you bought this stock are no longer valid, you must sell immediately.
• The fundamentals are still good, but the valuation has become much too high. You have to take advantage of the rise and not sell too early. The sell signal will be given by the technical analysis when the uptrend should end.

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.

Life and what it throws at us affect everyone. There can sometimes be a life crisis, such as the death of a friend or family member, family members falling ill, divorce, domestic violence, or many other crises that can occur. As a leader, you must know how to support an employee going through a life crisis while also managing productivity and the business’s needs. This can be challenging if the employee is affected for a lengthy period.

The COVID-19 pandemic has affected the world in many ways and has changed how the world used to think. People are more concerned and careful regarding their decisions and how they manage themselves in a crisis. The pandemic has altered meetings, studying, traveling, eating, shopping, and working. It is a fact that people must work to earn a living. Many employees cannot survive without working even for a month or two. Workplaces themselves also require a workforce and generally cannot bear employees’ expenses if they do not work.  Here are five ways you can help and manage your employees when they are dealing with a crisis.

Make Yourself Available

An employee dealing with a crisis might be embarrassed or overwhelmed, causing them to be continuously late or miss targeted deadlines. Often, a leader’s first challenge is to identify the warning signs that an employee is going through a difficult time. As a leader, you should maintain a good relationship with your employees to be tuned in enough to notice when something is wrong. You should maintain an environment of compassion and a safe place for employees to open up if something difficult is going on in their lives. If you maintain this work environment, it is more likely that an employee will come to you if something is wrong.

Listen and Offer Solicited Counsel

Most people going through a crisis can look for someone to listen to them speak about it. In many cases, they are not looking for advice or suggestions but rather an ear to listen to them. They may be looking for a sounding board or a safe place to talk about feelings. This open talk can be hard for them, especially if they are dealing with domestic issues and divorce. These subjects are deeply personal and can be scary to talk about, especially to a leader.

You can offer advice or suggestions only if the employee asks for it, otherwise only be there to listen and provide solutions to work while dealing with the crisis. You may need to offer the employee some temporary time off or away from a challenging position to give them the time they need to be fully productive.

Prioritize Health

Remember that your company or business is nothing without people to staff it and make it productive. Though it is a combination of your employees, clients, and stakeholders that keep a company functioning, if anyone on the staff is not functioning properly, it is better to give them the time to come back healthy and strong. Therefore, you have to consider things a bit selflessly. Your employee’s health should be the highest priority and can sometimes leave productivity suffering for the time it takes to get back to normal.

A leader has to think multidimensionally and requires a strategy for employees who cannot work remotely or have to be on the field at all costs. In these circumstances, it is difficult for the leader to decide how to handle these employees. Physical and mental health are among the most important in your company, so all decisions moving forward should be based on everyone’s health first and productivity second.

Check Work Performance

During a crisis, it is still suggested that you keep up with the employee’s performance and be aware of where they are in the crisis’s processing. Employees will appreciate the check-ins and be more willing to be open about progress if you check performance and needs periodically.

Consider Workload

When it comes to an employee in crisis, the workload can be huge in terms of how they work through the crisis. If an employee can function enough to take on a lighter workload rather than completely off, this will be ideal for both the employee and the business. If other team members are willing and able to take on some of the employee’s projects, this could be a viable solution until they are back on their feet full-time.

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 the budgeting process, the management aims to allocate capital and financial resources according to the organization’s current needs. For example, in the production department, the manager aims to decide the budgeted cost of production.

After the completion of the production, they address the gaps between budgeted and actual results. Its management can reduce the cost and expenses across all the functional divisions of the origination, which can be essential to increase the overall organizational profits and revenues. Through the budgetary process, a company can achieve organizational goals by effectively managing financial resources. One of the managers who design the budget’s main tasks is deciding on the budgeted sales, overviewing the production and overhead expenses, and the organizations’ capital required to conduct the company-wide operations.

The traditional or classical budgeting system is one of the earliest budgeting processes in which the budget is formulated annually. In this system, the company usually formulates the budget based on the previous year’s budget and, based on certain changes, are adjusted in the new budget. These changes or amendments can be essential to eliminate the company’s issues in its previous budget; therefore, it is referred to as an incremental approach. One of the main benefits of using this system is that it provides a budget limit in the allocation, which means that the company cannot spend more than the allocated amount. For the formulation of the company’s budget, previous financial information of the company and its performance are analyzed, resulting in fewer budget allocation changes.

Weaknesses of the Traditional Budgetary Process

Along with it some of the advantages, this system also has certain weaknesses. One of the main disadvantages is that the company’s strategic plans matter a lot, but these plans are not focused on under this system. It omits the company’s ability to focus on the organizational plans. The system cannot be used when the budgeting system requires major changes to achieve new opportunities as it only focuses on the marginal changes. The system determines a lot of change responsiveness, due to which the company cannot focus on the innovation in their organizational systems.

Reviewing the old budgetary system will increase the period to review the old budget. Therefore, it takes a much longer time to prepare the budget. The budgetary system did not incorporate any external factors, which makes it inflexible towards organizational change. After the budget formulation, the management cannot change it if any changes are required to overcome errors identified; only fewer changes can be made if required. The system is less focused on motivating employees’ desirable behavior to achieve the organizational objectives.

The viability of the Traditional Budgetary Process

In today’s world, every organization wants to focus on innovation and creativity to gain a competitive advantage in the industry. Innovation and creativity have led to several changes in the business environment and today’s organizations. Today management uses new and innovative approaches rather than old ones as it uses decentralized hierarchy and enhances organization-wide communication. Old approaches like centralized hierarchy and authoritative leadership have been omitted from the organizations.

These approaches were used to address the changing needs of the industry. The organizations have adopted these changes to survive in the market and achieve new growth opportunities. Traditional budgetary systems are not focused on the organization’s flexibility and adaptability towards industrial changes. It cannot be used. Furthermore, the customers’ changing needs and the increase of competitors have also increased the need to focus on new and innovative management approaches and techniques. Therefore, the traditional budgetary system cannot be employed due to its inability to meet the industry’s changing needs. Some of the budgeting processes have been discussed that can be used to meet the changing needs and gain a competitive advantage in the industry.

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.

Last year saw 2020 elections, the BLM movement, suspending of championships, facing a massive economic recession, and of course, the pandemic. The Corona Virus has changed the way we live and how we travel. Covid19 has brought ominous feelings about the future. Who would have even guessed that entire industry and the world would have to face a crisis as severe as the pandemic in such a brief time?

The insidious virus has cast a pall of fear, gloom, and demise throughout the world, leaving countries without strategies to deal with the pandemic. The local and international health organizations and world governments took responsible actions and responded at differing speeds to spread the deadly Corona Virus.

At the macro level, the Corona Virus’s impact on the world’s economies and livelihoods vaulted from serious to catastrophic. The USA’s exact development when claims from unemployment insurance increased to over six million in consecutive weeks. In countries with large informal economies, the government decrees aggravated the crisis by dictating self-isolation, social distancing, and nonessential businesses’ closures. The most impacted industry worldwide was the travel industry, with closures and travel restrictions being upheld in every country of the world.

New Travel Rules

But with the vaccines rolling out in 2021, we have witnessed a return to travel, and the industry is ready to win back its customers. The workers mainly focus on the new normal for travel and how they can entice you to travel. Think of multi-bedroom suites, relaxed living spaces, and full-service kitchens with the flexibility to extend your stay by maximizing your membership travel points and, of course, the comfort of home.

Some of the other 2021 travel trends are the dateless departures meaning that the travel workforce will guarantee you a spot whenever the first tour starts again. Plus, if the dates do not line up, you can rebook without even losing your money.

Another new safety option and travel theme is the travel bubble. Travel bubbles are private and smaller group tours designed to keep one group socially distant from other traveling groups. The travel industry does not want a new couple to give up on their honeymoon, kids not to take a break from their frantic routines, or a family to cancel their long-awaited family vacation again.

How the Travel Industry Has Been Affected

The travel industry is no stranger to adversity and has been seriously damaged by the novel virus. We have all witnessed leadership actions in companies that keep their people above water and focus on long-term growth. Most industry players have tapped into new liquidity sources, instantly acted to retain customer goodwill, and worked effectively with unions. People have started focusing on innovation and making better customer experiences.

There is no doubt that the virus has hit the travel industry pretty hard. With canceled flights and countries on lockdown, the hotel occupancy rates hit zero. The impact of the virus has been predominantly catastrophic for the tourism and travel sector. The statistics on international air travel show how the industry has come to an abrupt halt. However, the suspension is said to come to an end soon enough, and everyone shall get on with the everyday life we knew.

The Travel Industry and the Online Environment

Brands such as Belmond have managed to get their clients’ attention by having virtual events that do not inspire them to travel and offer much fun, festive activities, and information that all serve as mood lifters during this unusual holiday season.

Cultural, Environment, and Community Activism

From battling climate change to supporting the indigenous population through travel, the industry is redoubling its efforts to do good while also doing its job.

Trust Management Efforts

Managing trust involves greater business accountability. The principal at Enterprise Applications Consulting, Josh Greenbaum, was amazed at the unprecedented activism of so many organizations in the wake of US insurrection in January.

Conclusion

People wish to continue traveling again once the restrictions lift – some are ready to do it even before the vaccine is available. China, South Korea, and some countries in Asia have effectively controlled the virus’s spread and have already started seeing leisure and business travel segments recovering domestically.

While Germany and Europe have shown first signs of encouraging travel demand recovery, other geographies, including the United States, have not controlled the spread effectively. Despite the increase in the number of Covid19 patients, there has been an increase in advance bookings and searches. The is nothing that is stopping people from traveling.

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.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

5 Proven Strategies to Transform Your Virtual Meetings from Time-Wasters to Productivity Powerhouses

Have you ever sat through a virtual meeting that felt like a waste of time? You’re not alone. Virtual meetings have become essential to modern business, not just an alternative. The video conferencing market grew from $6.62 billion in 2022 to $7.26 billion in 2023, with a 9.7% annual growth rate[2]. With teams scattered across different locations, these digital gatherings enable real-time communication that’s critical for business success.

But there’s a problem: when virtual meetings lack structure, they drain energy and waste precious work hours. I’ve witnessed brilliant teams lose momentum simply because their online sessions weren’t designed for success. The good news? With intentional adjustments, your virtual meetings can become engaging, efficient, and actually energizing.

As someone who’s built a cloud-based business from the ground up, I’ve learned what makes virtual collaboration work. Recent research shows 67% of professionals believe virtual meetings can be just as productive as in-person sessions[1]—when done right. Let me show you how to make that happen for your team.

Understanding the Virtual Meeting Landscape

Virtual meetings have followed a similar explosive growth pattern to the internet in the 1990s[4], transforming from occasional tools to business necessities. They enable teams to connect across cities and time zones, providing benefits of virtual meetings that include flexibility, reduced travel costs, and broader participation opportunities.

But virtual meetings come with challenges: technology hiccups, engagement struggles, and the screen barrier that can make personal connection difficult. Understanding these dynamics is the first step to turning virtual meetings from potential time-wasters into productivity drivers.

Preparing for Success in Virtual Meetings

Success in virtual meetings starts long before you click “join.” This preparation phase sets the foundation for everything that follows.

Testing equipment and connections

I’ve lost count of how many meetings start with “Can everyone hear me?” followed by precious minutes solving audio problems. These preventable delays hurt momentum and professionalism.

Here’s my pre-meeting checklist:

• Test your webcam, microphone, and internet connection 5-10 minutes before start time
• Use a headset with a built-in microphone for clearer audio
• Close unnecessary applications that might slow your connection
• Implement proper remote work security measures to protect sensitive information
• Always have a backup plan—phone dial-in numbers or alternative meeting links

This preparation creates a smooth professional experience that respects everyone’s time.

Designating roles for structure

A startling statistic: only 37% of meetings result in actual decisions, and 73% of professionals admit to doing other work during meetings[3]. This happens when no one takes responsibility for meeting structure.

For meetings with more than three people, I always assign these roles:

• Facilitator: Keeps the meeting flowing and on-topic
• Timekeeper: Monitors the clock and signals when to move on
• Notetaker: Records key decisions, action items, and responsibilities

With this structure in place, attendees can focus on contributing rather than worrying about who’s tracking what.

Engaging Participants in Virtual Meetings

Engagement doesn’t happen by accident—it requires deliberate techniques to pull people into the conversation.

Interactive tools and techniques

The best virtual meetings use platform features to create interaction:

• Run quick polls to gather input and spark discussion
• Use breakout rooms for small group brainstorming
• Enable chat for questions and comments without interrupting speakers
• Use digital whiteboards for visual collaboration

These aren’t just bells and whistles; they’re essential tools that create multiple channels for participation, especially for those who might not speak up otherwise.

Encouraging full attention

Did you know 92% of workers multitask during virtual meetings[3]? This divided attention undermines the entire purpose of coming together.

Zoom fatigue is real, according to video conferencing fatigue research, but you can combat this with focused engagement strategies:

• Request cameras on when possible (understanding some exceptions)
• Create “no multitasking” zones for critical discussions
• Share responsibility by rotating who leads different agenda sections
• Keep meetings under 45 minutes when possible
• Add movement breaks for longer sessions

These practices build a culture of presence and participation that elevates meeting quality.

Choosing the Right Software for Virtual Meetings

The platform you select can either enhance or hinder your meeting experience.

Selecting user-friendly platforms

I recommend choosing platforms that align with your team’s existing workflows:

• Zoom: Excellent for breakout rooms and larger meetings
• Google Meet: Perfect for Google Workspace users
• Microsoft Teams: Ideal for organizations using Microsoft 365

The best platform is one your team can use without friction. Consider integrating mobile business management apps to streamline remote workflows and keep teams connected on the go.

Integrating AI solutions

AI tools have transformed how we capture and process meeting information:

• Automatic transcription: Creates searchable records without manual note-taking
• AI meeting assistants: Summarize key points and track action items
• Meeting analytics: Provide insights on participation patterns and engagement

At Complete Controller, we use these tools to ensure nothing falls through the cracks, especially for financial discussions that require precise documentation.

Building Strong Virtual Meeting Etiquette

Good etiquette creates a professional environment where everyone can contribute effectively.

Setting ground rules

Clear guidelines reduce friction and create meeting harmony:

• Mute when not speaking
• Signal when you want to speak (hand raise feature or chat)
• Minimize visual distractions in your background
• Start and end on time
• Come prepared having read any pre-meeting materials

Implementing efficient paperless office solutions can reduce on-screen clutter and create a more organized digital workspace for your meetings.

Promoting inclusivity

Research shows that 70% of workers find virtual meetings less stressful than in-person ones[2], but this benefit only applies when the environment feels inclusive.

To ensure everyone feels valued:

• Use gallery view to see all participants equally
• Actively invite input from quieter team members
• Create structured participation opportunities (round-robin updates)
• Provide meeting materials in advance for those who process information differently
• Follow up with those who couldn’t attend

Inclusivity isn’t just nice—it’s necessary for getting the full value of your team’s diverse perspectives.

The Benefits of Hybrid Meetings

As offices reopen, many organizations are adopting hybrid models that combine in-person and remote participation.

Integrating in-person and remote participants

Effective hybrid meetings require thoughtful setup:

• Position cameras to capture everyone in the room
• Use quality microphones that pick up all in-room voices
• Display remote participants at eye level on screens visible to everyone
• Use collaborative tools accessible to both in-person and remote attendees

Case study: Successful hybrid meeting execution

I worked with a financial services startup that transformed their hybrid meetings by mounting screens at eye level to display remote team members—treating them as equal “seats at the table.” They combined this with round-robin facilitation and AI-powered summaries. The result? Attendance increased by 32%, and participation from remote team members jumped by 45%[5].

Conducting Effective Virtual Meetings: Best Practices

Let’s pull everything together with some overall best practices.

Creating a clear agenda

Send your agenda at least 24 hours before the meeting and include:

• Meeting objectives and desired outcomes
• Topics with time allocations
• Required pre-reading or preparation
• Who’s leading each section

A structured agenda is the roadmap that keeps everyone aligned. For more guidance, check out these resources on how to conduct effective virtual meetings.

Effective facilitation techniques

Strong facilitation makes the difference between meandering conversations and productive discussions:

• Start with a quick personal check-in to build connection
• Clearly state the meeting purpose and expected outcomes
• Use timeboxing to keep discussions on track
• Actively manage participation to prevent domination by a few voices
• End with clear next steps, responsibilities, and deadlines

Conclusion: From Virtual to Vital

Virtual meetings aren’t going away—they’re becoming more central to how we work. With the right preparation, tools, and techniques, your virtual meetings can shift from frustrating to focused, from draining to dynamic.

The strategies I’ve shared aren’t complicated, but they do require intention. Test your equipment, assign clear roles, engage participants actively, choose the right platforms, establish good etiquette, and run meetings with purpose.

Ready to transform your virtual meetings? Start by implementing just one or two of these strategies this week. Then add more as they become habit. Your team will thank you, your productivity will increase, and your business outcomes will improve.

For more support on optimizing your remote business operations, including bookkeeping, controller services, and financial management, visit Complete Controller. We’re experts at helping businesses thrive in virtual environments.

FAQ

What are the most effective tools for virtual meetings?

The most effective tools include Zoom for larger meetings with breakout capabilities, Microsoft Teams for Office 365 users, and Google Meet for Google Workspace users. For enhanced productivity, consider adding AI transcription tools, digital whiteboards like Miro or Jamboard, and collaborative document platforms like Google Docs or Microsoft Office 365.

How can I keep participants engaged during virtual meetings?

Combat the 92% multitasking rate by using interactive elements like polls, breakout rooms, and chat features. Rotate discussion leaders, keep meetings under 45 minutes when possible, encourage camera use, and build in participation opportunities for everyone. Creating a “no multitasking” culture also helps maintain focus.

What’s the best way to include remote team members in hybrid meetings?

Position cameras to capture everyone in the room, use quality microphones, display remote participants on screens at eye level, and employ digital collaboration tools accessible to everyone. Most importantly, actively invite input from remote participants and establish turn-taking protocols that give equal voice to in-room and virtual attendees.

How do I prepare for a virtual meeting to avoid technical issues?

Test your audio, video, and internet connection 5-10 minutes before the meeting starts. Close unnecessary applications, use a headset with a built-in microphone, ensure your meeting space has good lighting, and have a backup plan (like phone dial-in information) ready. Implementing proper security measures also protects your virtual meetings from disruptions.

What should be included in a virtual meeting agenda?

A good virtual meeting agenda includes clear objectives, topic list with time allocations, who’s leading each section, any required pre-reading, and the desired outcome of the meeting. Send it 24 hours in advance to allow participants to prepare, and follow it closely during the meeting to maintain focus and efficiency.

Sources

• Flowtrace. (January 24, 2024). “65 Surprising Meeting Statistics for 2025.” https://www.flowtrace.co/collaboration-blog/50-meeting-statistics
• Notta.ai. (October 11, 2024). “100+ Eye-opening Meeting Statistics in 2025: Virtual, Productivity.” https://www.notta.ai/en/blog/meeting-statistics
• Flowtrace. (January 21, 2025). “State of Meetings Report 2025.” https://www.flowtrace.co/collaboration-blog/state-of-meetings-report
• Smith, A. (2020). “Digital Revolutions: From Internet to Social Media.” Digital Journal.
• MeetGeek. (April 10, 2025). “What is Virtual Meeting & What to Expect in 2025: A Look Ahead.” https://meetgeek.ai/blog/what-is-virtual-meeting-and-what-to-expect-in-2024
• Stanford News. (February 23, 2021). “Zoom Fatigue Explained.” https://news.stanford.edu/2021/02/23/zoom-fatigue-explained/
• Pew Research Center. (March 30, 2023). “Most Workers Who Can Work From Home.” https://www.pewresearch.org/fact-tank/2023/03/30/most-workers-who-can-work-from-home/
• Harvard Business Review. (March 2020). “What It Takes to Run a Great Virtual Meeting.” https://hbr.org/2020/03/what-it-takes-to-run-a-great-virtual-meeting
• Complete Controller. “Mobile Business Management Apps.” https://www.completecontroller.com/mobile-business-management-apps/
• Complete Controller. “Efficient Paperless Office Solutions.” https://www.completecontroller.com/efficient-paperless-office-solutions/
• Complete Controller. “Remote Work Security Post-Covid.” https://www.completecontroller.com/remote-work-security-post-covid/
• Everhour Blog. “Virtual Meeting Etiquette.” https://everhour.com/blog/virtual-meeting-etiquette
• Zoom Community. “Best Practices Forum.” https://community.zoom.com/

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.

It is important for the owner of a firm or a large-scale manufacturing organization to keep a close eye on the evolutionary change in business trends. This is particularly important in the era of globalization, where completion is becoming an essential part of the business model. Adaptation of a few business trends can prove too fruitful for the organization, as they have been a source of curbing expenses and real-time portfolio management. Another aspect is the firms may not have budgeted such influx into their business operation. A certain percentage must be provisioned or buffered into the budget to absorb any capital expenditure.

Advancement of the technology in business software applications has made the lives of management easier when it comes to decision-making. Technology makes it easy to predict multiple tangents and scenarios on a real-time basis. Most of the application software has embedded artificial intelligence. Based on the chronological pattern of pre-consumer buying behavior, the software can predict the post scenario. Furthermore, many modules and soft business wares have inter-compatibility and can be easily interfaced with each other. Even if this might not be the case, the data from different modules can be extracted to a data mart, and then the core MIS engine can run diagnostics and various reports. The telecommunication industry uses Geolocation and Geofencing to provide their consumers with extraordinary services, such as their nearest POI (Point of Interest). These two features are already part of the business application that warrants GPS (Global Positioning System), such as navigation systems in automobiles.

Many organizations have adequately utilized the platform of android application and come up with their own mobile applications. These platforms help sustain their existing market shares and provide their consumers with a unique and enhanced experience. Many social media giants and search engine experts have come up with various algorithms that can track the movement of the consumers, which facilitate the organizations to beef up their existing market. In some organizations, the impact has been substantial, as such technology advancement has led to an unnecessary cut in cost and simultaneously increases the revenue. Similarities and habitual consumer visits while computing consumer-buying behavior have reduced repetition in customer service, rid unwarranted paperwork, and predictive scheduling.

Large-scale corporations allocated high expenses toward the advertisement, promotional material, and media buying in the traditional era. For niche product segments, such corporations stick to this preferred methodology due to their legacy and cultural heritage.

However, FMCG and retailers have effectively utilized social media to market their products and run time-bound promotional offers. Furthermore, with the help of social media, the customers have started developing community-based marketing campaigns that only create awareness and provide participation-related incentives. Due to community-based marketing, some organizations have segmented their target market into small communities. Since running banners and advertisements on social media websites are less costly, the outreach of these firms has amplified two-fold. The content, which once appeared to be serious and brand conscious, is no longer serious. The literature is casual and captures the attention of the audience of all age groups.

In addition to the abovementioned scenario, organizations are now involving third-party management consulting firms to conduct research and studies. It implies that organizations are now seeing how important social learning is. In this process, the organization views competitors as peers and as a source for identifying gaps.

In this era of globalization, the consumers buying behavior is complex and sophisticated. The end-consumer takes thorough research before they purchase any items, as they are exposed to an array of the product suite. They research the organization by thoroughly going through their websites and reading their online reviews. The top management of the organization needs to make the customer experience enriching for the target audience. Focus on personal and interactive experiences, as it will give an idea to the professional marketing executives.

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.