Author: Jennifer Brazer

Before starting a business, it is necessary to know what it is to be an entrepreneur. However, it is a promising career; it can be exceedingly difficult to achieve our goals.

Therefore, we must know the advantages and disadvantages of being an entrepreneur before creating a company. Knowing the pros and cons of the undertaking will allow us to know what to expect as we embark on an entrepreneurial journey.

Advantages of Entrepreneurs

First, it is essential to discover the benefits of entrepreneurship for people. If you have been an employee, entrepreneurship can positively change your life.

Work on What You Want

The entrepreneur chooses the job he wants, either because he has a business idea or because he decides to pursue a field of interest. Sometimes it is the dream job, or sometimes it is a job we like. Either way, entrepreneurship is a job one chooses, making it possible to work with more motivation.

In addition to choosing your work, you are also the one who chooses your team. If you need associates, you can select the right people to make the best employees for your business.

Work Autonomy

The entrepreneur becomes their own boss, so they decide what to do, when, and how to do it. You manage your business as you see fit, but beware that great power carries great responsibility, so all your decisions should be made in the business’s best interest.

Greater Profits

Beginnings are often complicated, but starting a business allows you to leave the comfort zone of your current payroll and aspire to higher income. If the company is doing well, you can earn more monthly income. Hence, your work and efforts are worth more money than ever.

Personal Satisfaction

Personal satisfaction is what inspires entrepreneurs. Creating something new, working for it, and watching it grow gives you a sense of satisfaction that cannot be described. People encounter many difficulties, but the joys that come from achieving goals that seem impossible are greater.

Disadvantages of Undertaking

When undertaking a venture, you realize that not everything is easy. Entrepreneurship has positive and negative aspects. Here are some of the disadvantages of being an entrepreneur and the risks involved.

Great Sacrifice and Dedication

Forget the consistent 8-hour workday with a predictable schedule. The entrepreneur’s life is very fluid, especially in the initial steps of creating a business. You often know when you begin your workday but not necessarily when it ends. Sometimes, it is necessary to work evenings and weekends to meet your business’s needs.

Entrepreneurs often become superheroes and take on jobs that had not previously been done. You probably work alone or with a small team, so you must work overtime and develop new skills to do all the necessary work. Free time as you knew it is now generally devoted to your new venture.

Discipline

Not everyone knows how to manage their time properly to accomplish all the necessary tasks. Being your own boss means being disciplined and managing your time in a way that enables you to achieve your business goals. Otherwise, the consequences for the business can be fatal.

Uncertainty and Economic Risks

We can indeed achieve greater benefits if our company is doing well, but nobody assures us the business will succeed. In the beginning, the bottom-line will often look like a rollercoaster of expenses and little income. We may have some good months, but the next our activity is null. There is no fixed monthly income for a growing business, and the economic uncertainty of the company is a reality for the entrepreneur.

Entrepreneurs are experts in living in a state of uncertainty. However, it might be worth the risk to have an escape route that can support you in case of an emergency.

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.

Credit card debt can be daunting, which is why it is extremely important not to let it get out of control. It’s even more important to avoid it completely in the first place. If you have accumulated a substantial debt and are worried about it, check out these few steps to beat the debt and keep it away forever. 

These steps will assist you on your path to financial stability. 

Have an Optimistic Approach:

This should be your first step, as it is important to set positive goals before taking any financial action. Creating a plan and a list of goals, and making achieving them a priority, is crucial. Having an optimistic approach means changing your routine and habits in your daily life to cater towards a more positive mindset. Take care to remain focused and persistent to reach your goals. Try your best to stay motivated during your journey, which can be easier to do with a positive mindset.

Don’t Use Credit Cards:

This should be an essential directive. Being aware of your debt, and choosing not to do anything about it, is extremely unwise. Put your credit cards aside so that you will not be tempted to use them. You will never be able to repay your debt if it continues to increase. Take care to control the use of your debit card, as well. The money in that account can be budgeted to repay your debt. Simply put, avoid using credit and make smarter decisions with the money you do have.

Prioritize the Credit Card Debt:

Prioritizing credit card debt means you must create a budget or plan for the debt that includes mortgages, interest rates, loans, etc. This plan will look different for everyone.  Carefully study the details of your credit card statements each month to calculate how much is paid and how much remains.

Manage Your Budget:

>Review your monthly expenses and budgets to look for opportunities to cut costs. Spending less should also be a priority. In this way, you will be able to save some amount and make payments on the debt regularly. Try to lessen expenditures in whatever way possible, such as using some generic products instead of name brands. Do this every month, and it will become a habit. By having healthy saving practices, you will be able to easily pay your credit card debts in larger amounts and avoid increasing interest rates.

Pay the Debt in Large Amount:

This should be done as soon as possible. Understandably, making larger payments will make it much easier and faster for you to repay the whole debt. Making larger payments is also more beneficial due to the increasing interest rates you incur when paying small amounts. Try to pay in large lump sum amounts instead of dragging the debt for years.

Have a Lower Interest Rate:

If you have a credit card with a higher interest rate, it will take longer for you to pay it off. The lower the interest rate, the shorter the repayment period. To pay off the debt you have now, one tactic is to contact the credit card provider’s customer service department and explain your situation. These institutions typically have different ways to help make it easier for you to make regular payments. Some may even reduce the interest rate because they do not want to lose your business.

Have a Strategy:

Now that you know what steps you need to take, form a strategy and stick to it. You cannot wish your debt away. Getting out from under it requires immediate action. The best way to do this is through goal-setting and proper planning, followed by rigorous discipline.  

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

When preparing to launch a business venture, entrepreneurs are faced with creating and developing a healthy and productive operational team. This involves organizing functional departments such as marketing, accounting, technology, customer service, and – Human Resources. You will need a designated plan for addressing recruiting, benefits, and compliance within your organization. These are the basic roles and responsibilities of an HR department and tips to ensure it runs smoothly

Recruiting

The major responsibility of the HR Department is staffing the company.  This is also called talent acquisition. Typically when there is a need for additional help, human resources creates a list of the job description and is responsible for attracting candidates with suitable skillsets and relevant expertise. This process can include posting on job boards, putting an ad in the classifieds, posting it on the company website, or using a third party service.

 

Talent Assessment

Talent assessment duties of the HR department include reviewing resumes, interviewing candidates, and testing their knowledge and skills relevant to the job. One major obstacle that HR typically faces is how to assess the loyalty and dedication of the candidate and potential new hire. Training and onboarding a new hire takes time and money; therefore, you want someone who will stick around.

A good tip to make sure you are hiring someone who has the potential for staying long term is by looking at how frequently they have switched their jobs in the past. If it is too frequent, then the chances are higher that they are looking for a better opportunity. While it is important to look into their education and certifications, overlooking job stability is a major flaw in the hiring process leading to severe consequences within the company.

Also, make sure that you interview candidates appropriately. It is important to have someone from the specific department help interview since they are the ones who will be working with that person.  

 

Terminating Employees

The HR department is also responsible for determining what constitutes grounds for terminating employment and deciding what that looks like. It can be very unhealthy for an organization’s firing process to be flawed. Companies show many talented employees at the exit door due to bad performance. What they may be missing here is the importance of looking into what is causing the bad performance. The employee may just be going through a bad phase of their lives. It is the job of an organization’s HR department to find out the problem with an employee and address it rather than firing them due to poor performance.

Favoritism

It is extremely important to have a department that is free of any favoritism as this is the biggest concern in the corporate sector. Usually, a successful HR department incorporates some sort of policy into a job application that disallows the family of the executives to apply for the job. This ensures your company avoids hiring on people that don’t add any value to the company.

Legal Compliance

Another major part of the HR Department is to make sure all of the correct tax forms are filled out when onboarding new employees. Any mistakes in this area can lead to fines by the IRS and loss of money from the company.

Conclusion

These are the common mistakes that ultimately prove to be fatal and unfixable. Statistics show that more than half of the small businesses worldwide dissolve within their first few years, and mistakes made in HR have the potential to cost a larger established firm millions of dollars. Ensure your company succeeds and invest in a qualified team.

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.

Sales increase by 17% when regular checks are made on business performance. However, unproductive business planning wastes 50% of sales time. The global business market is full of competitors, and their ratio in the market sector is multiplying with speed. No business can survive without learning from others’ success. Additionally, there is no room for error as demands and trends change in a short amount of time. You must be vigilant in your market search to know the intensity of your competition, as well as the behavior of your targeted audience.

Suppose you are new to your field or just merely surviving in the industry. In this case, you must learn tips to reduce expenses while improving your sales efficiency and performance. This will drive you to the next level as a sales agent.

Sales efficiency is an integral element that streamlines the production of your sales. It will also increase your productivity.

Sales Effectiveness Vs. Sales Efficiency

Utilize sales effectiveness measures to convert all your prospects into competitive leads. This will also expedite the money transaction process where clients pay you for your sales. There must be a win-win situation in your business in the sales process that makes your sales effective.

Your business’ sales become efficient with speedy sales operations. By expediting your sales and leads, you can produce the highest ROI. The sales team will produce revenue according to your relative costs.

The formula for the sales efficiency ratio is:

• Sales efficiency = (revenue/sales costs) × 100

Business KPIs and business goals can become a priority

You can only win in the game of sales efficiency when you know your goals and how to track your business’ success. Sales reps set their monthly sales target and work hard to meet that deadline. Make sure you do this from the beginning. For this, you can use the SMART goal method to make your goals measurable and realistic. The term SMART means;

S = Specific – Refers to the goal that you want to meet and the area of focus.

M = Meaning – The reason behind your goal.

A = Action-Oriented – Your potential steps to maximize sales.

R = Realistic – The ability to achieve your goal.

T = Timely – The duration of achieving your goal

Use KPI’s Key Performance Indicators to track sales operations closely. Recognize all bottlenecks and try to solve the issues one at a time, as this will help you reduce inefficiency.

Identify your targeted and ideal audience

Unproductive business planning wastes 50% of sales time. Identifying and addressing your target audience is necessary for sales efficiency. You must be aware of what your targeted audience wants and who they are. You will also need to address your target audience’s needs and pain points to attract them to your brand. Discuss your product’s unique selling points with your customers and tell them why your product is different from other brands.

Next, let’s talk about the sale of blogs, descriptions, or articles. You must pay close attention to the quality, quantity, nativity, flow, grammar, etc. To promote your brand this way, you will need to know about your customer, data points, pain points, etc. Use sales intelligence software or tools such as Lead Machine. You can create the persona of those who are willing to purchase your product.

Make your sales process repeatable and consistent

Qualified leads, team collaboration, and on-time sales all work to improve your sales efficiency. For this, consider the key steps in the sales process:

• Research and Preparation – This includes the product’s scope, ideal customers, unique selling points, etc.
• Prospecting – Get clients into your sales funnel by using data to identify those potential prospects.
• Pitch and presentation – Allow the sales representative to address their product’s unique selling points.
• Closing – Address your audience about closing the project with the term PROJECT HAS CLOSED.
• Follow-up – Obtain references that lead to conversion.
• Issue resolution – Aim for on-time solutions of all issues.
• Prospects – Your prospects must match with your clients’ demands and pain points.
• Objection solutions – Accept and aim to fix all the objections regarding your project.

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.

According to Forbes, the success rate of global traders is around 10%. Everyone wants to be perceived as a winner. But many successful traders focus more on their losses. This allows them to increase their efforts. Keep a record of what you have earned and lost every day in your business. This is suitable for a company that strives for growth and fame in the market.

Make a proper plan and stick to your goals with great discipline to become a successful entrepreneur. You must learn how to trade for a relevant business in which you are interested in investing in. Of course, it would be best if you had massive financial capital and stamina for bearing risks. Follow these rules to become a successful trader and achieve your desired profits.

Financial Industry Regulatory Authority (FINRA)

First, you must know what the FINRA is and how you can get it.

Every business owner needs a Financial Industry Regulatory Authority (FINRA). For this, you must have at least 25,000 dollars of equity in your account. This also applies to those who sell and purchase security on the same day, which is possible to do four or more times in five business days. Your day-trading operation must be six times greater than any other trading activity within the same five-day period.

A plan

Trading is the process in which you invest your savings, time, and efforts. Eighty percent of Americans dream of owning a self-made business as this makes you financially independent and the central power of a business. To achieve this dream, you must set goals and rules for your business operations. A proper plan with all listed requirements, budgets, and overall costs of the company is also required. In this way, you can manage all your expenses, risks, and returns of investments. A solid plan also provides you with the courage to deal with all crises and situations, such as rush orders and product delivery management with a tight budget.

Keep in mind that we will need to estimate every expense more than the actual cost. For instance, your business expense of one order is approaching, so you will to set aside two times the extra money for that. If you cannot do this or have a limited budget, an emergency fund is your best option. This will prevent you from having a capital deficiency. If you unintentionally miss a payment, your business plan will help you straighten out the discrepancy.

Track your regular performance

Create your business strategy from day one of your project. There is much software available on the internet to help you do this. Performance monitoring not only indicates your business activity status; it also tells you how you manage your risks, finances, and money transactions.

How will you overcome times of crisis? Are your delivery production processes and money transactions free from scams? You must be tech-savvy in this regard as you cannot monitor these risks. It is best to have a backup plan with a backup-testing system. This will record your business performance, money transactions, delivery product, and all other business operating activities.

Your corporation must have a TD Ameritrade practice system. An example of this is Wealth-Lab Pro, which protects you from fidelity. Many business owners receive fake money or checks that are not legal.  There are software programs and platforms that monitor these risks for free.  Additionally, some of these online channels ask for extra charges for a few different packages.

Get benefit from technology

When dealing with your business on a professional platform, including the projects of international clients. To do this, you must be tech-savvy. Technology does not only help you in facilitating potential backtesting strategies; it also provides you with access to platforms that can digitalize all your business activities.

The Internet is overloaded with multiple websites, mobile applications, and software. You must leverage all of these platforms and technologies and choose the ones that will help you find the most clients. You can also use this technology to analyze market situations and investments. Additionally, in order to track proper tax accounting, you must purchase or download adequate bookkeeping software.

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.

For the past several months, the whole world has been confined. Job loss has evolved in different ways and, and although it seems contradictory, this situation has encouraged many people to create their own business future. The lack of opportunities and the coronavirus’s alarming effect has caused many to reinvent themselves.

Maybe you also want to try your luck and start a new business venture. Check out these five profitable startup business ideas for the coming year that respond to market trends so you can have a vision of the sectors with the greatest growth potential.

Home Delivery Services

The first profitable business is home food delivery services, a lifestyle that has been highlighted since Covid-19 hit our shores. It is the answer to the dynamics of work and rhythm of life that has been created, especially in large cities, in the last decade. However, the coronavirus’s arrival has forced restaurant businesses to have home delivery and collection services on site. Until now, it has been the only way they have had to survive. On the other hand, many localization apps, search engines, and businesses’ digitization have been key to adapting their businesses during the time of confinement and the new normal.

Logistics and Supply Chain

According to Nielsen consultancy, online purchases have increased by 86% and have reached one million households. There has also been an increase in demand for e-commerce companies such as Amazon, which has already announced that it will hire 100,000 more workers in the United States due to increased orders. Opportunities to do profitable businesses such as 5G, IoT, blockchain, and robotics have also been identified to help link multiple buyers with multiple suppliers reliably through a ‘mesh’ of supply chains.

Selling ​​Second-Hand Items

The key to selling second-hand items is to accumulate a stock of sellable items. Do not accept any item that cannot easily be sold as displaying unsellable items can scare your customers away. For example: if a customer goes into a second-hand store thinking about buying television and sees a row of televisions from the year their mother was born, that can be a turn-off. Ensure all stock on your floor is sellable and remove any items that could detract from sales on other items.  

Though this type of business can be profitable, there are issues with security and illegal activities. This business can easily allow stolen products to be resold. To avoid this, a protocol needs to be established. When you buy an item from someone, try to ensure it is not stolen and if you discover it is stolen, report it to the police immediately.

Owning a Franchise Business

Having a franchise is a step with a little less risk since you have the advantage of opening a business that already has a reputation. It is easier to start generating sales and profits quickly. Also, to buy a brand, it is unnecessary to make an excessive investment at the beginning of the business. There are different alternatives to finance yourself, and, most importantly, in many cases, the brand provides you with an initial capital. On the other hand, the clearest disadvantage is that you do not have total freedom in organizing the business; There will be some guidelines that the brand in question asks you to follow, especially concerning the company’s image. Keep reading more about profitable businesses.

Legal Consultation

Another sector that is growing a lot is Legal Tech, and that is why it deserves a position on our list of profitable businesses for the coming year. Due to the number of digital companies growing at an unstoppable rate, they need technologies, software, and legal advice services.

If you are specialized in the legal sector, one of your opportunities is as a digital legal advisor. There are also opportunities to help companies deal with issues such as the Right to be forgotten on the Internet, communications, or data processing. Other more general ones include civil and commercial contracts, general conditions, company formation, or legal aspects.

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

There is a saying that says, “In a clean house, angels dance with pleasure.” And this is true. At this moment, you can probably see around you at least a dozen things that need regular cleaning: desks, windows, floors, furniture, lamps, and the list goes on and on. Today we live in times of great health and cleaning challenges due to Covid-19. Thus, many companies have found it necessary to redouble cleaning in their workplaces, schools, hospitals, etc., representing a great opportunity for the cleaning industry. 

According to the US Bureau of Labor Statistics, cleaning services will see a 10% growth in jobs through 2026, above the national average for all industries. Let’s consider the industry’s natural growth, added to the health crisis that we are experiencing. This represents a historic opportunity for the growth of your business in the cleaning industry. 

Companies such as Corporate Cleaning Inc said that demand had increased substantially for commercial buildings and medical facilities in light of COVID-19. “We have never experienced anything like this before in our lives and especially in our business,” said Crystal Hughey-owner of Corporate Cleaning. 

What to do Then? 

Seize the moment! Today, having a cleaning company means being aware of changes and knowing how to turn those changes into opportunities. You can grow your business exponentially if you invest in digital marketing, but the time to do it is NOW!  

What is Digital Marketing?  

Digital Marketing is the set of strategies focused on promoting a business on the internet. Today most of your potential customers are connected to the internet on their mobile devices, so investing in digital marketing allows you to reach them with great precision and effectiveness. So you may be wondering what tools you can use to reach my ideal customer.

Invest in a Website

For a small business to grow, it must focus its efforts on attracting new customers. Although we can receive visits with a local business and sell traditionally, the truth is to achieve greater growth. It is necessary to start your online presence. According to a SAG IPL, 62% of companies increased their sales by having a professional website.  

A website should be your ally to help you sell. No matter the time, your website does not close or have holidays. It does not matter if you are home after a long work day. Some people can enter at night and know what you offer.  

Therefore, your website becomes your cover letter and the cornerstone for any marketing campaign you want to do. 

Your website must have all the necessary tools to help you sell and attract new customers to achieve this.

Each functionality of your website should be: 

• An effective tool to capture leads
• A channel to publicize your products or services 
• A platform for remarketing 
• A means to publicize the company at the local level 

The 21st-century consumer is very skeptical. 56% of people said they would not trust a business without a website. 

Having a professional website instantly increases your credibility as a business, which could increase your sales considerably. 

Create a Professional Image of Your Company

The image that a company project is decisive for a user to end up buying you or not. According to studies, 83% of people decide on their purchases according to their image and confidence in the product or service. The branding helps you differentiate yourself from your direct competition. Even if you sell or offer the same as your brand’s added value, it makes the difference possible.  

To achieve this, you have to transmit a professional and quality image to your clients and send a clear message of your values ​​and philosophy so that they identify with your company and be faithful to your brand. According to Forbes, a brand’s uniform presentation across all platforms can increase revenue by up to 23%.

Invest in Advertising on Google

When a person wants to find a cleaning company, they will likely Google it first. Every day more than 7 billion searches are carried out. Of these, 29% are from consumers looking for businesses close to them at least once a week, representing an excellent opportunity for your business to be found.

Google Ads is the advertising platform Google and helps you show your ads to people who perform a search on Google, visit a Web site, or watch videos on YouTube.    

This type of advertising works through a PPC or pay-per-click system. This means that you will only pay if a user clicks on your ad. Are you ready for more people to find your business?  

Invest in Facebook Advertising

Advertising on Facebook is done through ads, which contain images, videos, photographs, or text, which can be segmented according to the type of audience to which we want the message to reach. It can be by location, age, interests, and much more. Facebook Ads is a pioneer of paid social media and has become a central part of many companies’ digital marketing strategies.  

Although the budget for a Facebook ad campaign varies, Facebook ads are remarkably affordable, making it a desirable proposition for small and medium-sized businesses with limited resources.

Offer Your Services Through a Video

The use of video marketing is the trend today and a key element in companies’ marketing strategies. It is believed that by this year’s end, more than 85% of the traffic from the internet will be videos. If you want to generate a greater reach in your online advertising campaigns, you must use Video Marketing to communicate! When we talk about Video Marketing, an online marketing strategy where videos promote a brand, product, or service on the internet. 

According to eMarketer studies, users prefer to watch a video about a product or service four times more than to read about it. And 9 out of 10 Internet users watch videos of brands they like, and later 65% visit the company’s website.

Today, the cleaning industry is receiving strong consumer demand due to the time we live in. This represents a great opportunity for your business to grow and develop. The most effective way to do it is by investing in Digital marketing.  

New technologies have made cycles shorter and shorter, so any company to innovate must be part of its daily management; there is no other way to survive for 30 to 50 years in today’s business environment. As a phrase by Johann Wolfgang Goethe says: “The advantage goes to the one who seizes the right moment.” The question is, are you ready to take the next step? 

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 financing of a company is based on securing money that can be utilized to pay for necessary investments and ensure its proper functioning. Financing a new business is a difficult undertaking, and there should either be significant savings on hand, or there should be a dependable financer ready to contribute the necessary finances.  

Types of Financing

Financing can be secured and repaid in the short term or long term. Short-term financing is the one that must be repaid in a period of less than one year, while long-term financing is used for larger investments and is returned in longer periods.  A new business owner must determine which option best fits their needs, which their investor will prefer, and which repayment option is feasible.  

Financing New Business

Undoubtedly, it is necessary to know about all the possible financing alternatives that exist for funding a new business and to know which option is the one that can assure hassle-free business. This blog is about understanding how companies are financed and some advice on obtaining investors to finance new businesses. 

Securing Finance of New Business

Before choosing any financing model to start a new business, it is necessary to carry out a study that assesses all the possible options. It is also essential to carry out a financing plan in which all the financial conditions and costs are detailed, and an amortization plan is set. This financial should also include a repayment plan.

Financing for entrepreneurs

One of the main issues when starting a business is for a sole proprietorship to find the money necessary to finance the business. Sometimes, it can be difficult to convince investors of an idea’s potential without presenting a product. In turn, the idea cannot be fully developed due to a lack of resources. Luckily, entrepreneurs enjoy exploring options when it comes to acquiring money to create their businesses. Most entrepreneurs can look beyond banks to get financing. It is necessary to have a complete business plan that shows others the economic viability of the company.  The most common financial models for new businesses are listed below: 

• Venture capital
• Seed capital
• Business Angels
• Crowdfunding
• Aid for entrepreneurs
• Participative loans
• Business incubators
• Friends, Family, and Fools
• Sources of financing for e-commerce  

There is no correct answer as to which method is the best when financing a new business.  Much of the appropriate method of financing depends on the company’s situation and needs.  The amount of money required and other variables like a repayment plan must be studied to know what actions should be taken.

Loans

When creating a company, it can seem like an almost impossible task if there is no firm funding. Traditional bank financing has been reduced exponentially, and having a good and competent business idea is not enough for banks to contribute their capital. The bank previously provided up to 90% of financing to companies, funneling its clients’ money towards new clients and managing profitability in the best way.  Unfortunately, this is not always the case in today’s economy. 

Alternate of Bank Loans

The gap left by bank credit has been complemented by transparent alternatives that help grant loans to companies that have productive importance in society and maximize customers’ savings.  Investors must be convinced before they agree on putting a large sum of money into a new business venture. Business owners quickly acquire capital from investors who aim to achieve a mutual benefit.  Securing finance for a new business is often the toughest task because it involves perfect planning and strategy. The business owner should possess convincing power to make investors believe in the business idea and present it as a mutual investment. 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.

Sexual harassment, along with any other harassment, should not be allowed in any workplace. An employer subject to federal anti-discrimination laws is bound to keep its workplace free from insult, intimidation, and mockery based on gender, religion, color, race, or national origin. An employer must also be concerned with preventing and stopping harassment, which could lead to legal issues.

An employer must monitor employee demeanor and behavior because any type of harassment present in the workplace affects employees’ productivity and might put an employer under legal scrutiny.

What is Harassment?

Harassment can be physical or verbal behavior that shows negativity or rudeness towards a person due to his skin color, religion, age, race, birthplace, disability, or for any other reason that:

• It has to do with creating an unfriendly, offensive, daunting working atmosphere.
• It has to do with creating an unpleasant environment for the employee(s).
• Puts a negative effect on the employment opportunities of a person.

Harassment can also be a negative behavior toward an individual’s privacy. 

What Dedicates Sexual Harassment?

Unwanted sexual advances, demands for sexual favors, and different kinds of physical or verbal topics of a sexual nature give rise to sexual harassment when any one or more of the issues stands true:

• An individual feels dominated by the burden that if such demands are not fulfilled, it would be hard to keep up with the job or advance within the company.
• An individual thinks such conduct is the cause of promotions, demotions, and increments and is a requirement for the job.
• The approach or conduct affects an individual’s work performance or builds an offensive, hard-to-resist environment for an individual.

A few important points to keep in mind about sexual harassment include:

• Both males and females can be a victim of such conduct.
• A male or a female can also be the harasser. In some cases, the behavior can be from the same sex.
• The conduct is not necessarily taking place with the complainer. Any observed sexual harassment might be reported by a third party who was not involved in the original act.
• Such conduct can take place at workplaces, events sponsored by a company, or even between colleagues away from the working environment.
• The conduct can take place anywhere on the work site, and it has multiple situations to occur.

Common conditions that might include sexual harassment are:

• Pinups in the office: Pinups might be passed personally with sexual material that is liable for creating an unpleasant working environment. Do not let such things take place.
• Asking a colleague for a date: Such actions are not considered harassment, but if an individual refuses the offer, it can become one when continuous pressure is forced on the person to go on a date even after a complaint is made.
• Treating women rudely: A supervisor treating women unjustly or rudely and always putting women down or criticizing their ability to work can be guilty of offending women sexually as hostile actions are being taken based on the gender of the employee.
• Abusing verbally or through jokes: Passing statements about an individual’s appearance or jokes being passed down of a sexual nature can build harassment, especially when the individual does not appreciate such actions.

What is Gender-Based Harassment?

It is the employer’s job to ensure such actions are not being conducted in the workplace. Gender-based harassment is conducted based on the sex of the individual with no such sexual motives, maybe inter-gender or intra-gender, and can take both obvious and subtle forms.

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.

On average, today’s mortgage debt is a little over $200,000, which is 10% higher than during the housing market crash. For an investor, it can become challenging to decide between investing and paying the mortgage.

What is a Mortgage?

An individual buying a house after October 2015 will find in the documents a TIP (Total Interest Percentage), which tells them the amount that is required to be paid, which includes interest along with the original loan amount. Before October 2015, the term mortgage was known as a finance charge.

At the rate of 5% APR (Annual Percentage Rate), the $200,000 TIP loan gets more than 90%, which means that an additional $180,000 is required to be paid over the next 30 years on the loan.

For example, a person whose funds are short of the $200,000 needed to pay the mortgage will be required to pay additional amounts. The additional amount will be the conventional way of paying $100 per month, which equals about $3 every single day. A loan over the 30-year plan will be cut short by paying $100 per month for 5 years, which will result in a saving of $37,000 in interest.

The question becomes: Is it really possible to save $37,000 on interest in a 30-year plan with a contribution of $100 per month? According to past records, the answer is yes.

What is Investing?

An investment can be risky as well as rewarding. The simplest way to make the investment most efficient is by using the diversified index. The Index investment is not a new concept. Instead, it could be seen being used before the start of the 1970s when Vanguard provided a fund like other S&P 500 (a portion of the stock market made up of 500 of the largest companies).  At present, there are a lot of alternatives that can track the S&P 500. The well-trusted investment alternative is the SPY stock, which is a low-expense exchange-traded fund.

A good thing about index investing is that it is easy and can do better than well-maintained mutual funds.

The history of S&P’s performance can be checked to know how it performed earlier and how it can help in the future. Simple stocks or actively managed indexes might not be able to provide many past records.

From past records, the S&P has been able to give off a 10% return with 3% from inflation and 7% real return.

The rate of return is proportional to the time frame, which can be understood by reviewing past records. The S&P values fell dramatically in 1928 and then rose again in 1982; it took about 54 years to reach the same level. After a couple of years, the S&P showed a histrionic rise with few falls along the way.

It is impossible to be sure about what will happen to the S&P index after a thirty-year time frame. However, past studies have shown that there will be a rise in the investment, giving a 10% return to individuals who did not sell it at an initial fall in the prices of the S&P.

The Benefit of Paying the Mortgage

A person looking toward retirement or looking forward to increasing the household income can be free of the mortgage soon. Moreover, there will be fewer things to worry about as people are looking to retire; it is a relief not to need part-time jobs to pay the mortgage and to have additional time on hand.

The Benefit of Investing

The most basic advantage of investing money instead of paying off a mortgage is that a person is buying a liquid asset, which can eradicate the mortgage interest payment. There is no surety that the money will grow but the chances of earning on investment, according to past events, is very high. However, it is hard for short-term investments to get impressive returns as it is hard for the market to adjust so rapidly. 

Using the data of the thirty-year’ time span of the S&P 500 shows that by putting $100 every month, an individual is able to create a portfolio of $160,000 after 30 years.

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.