Author: Jennifer Brazer

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.

A person receiving medical bills after going through a procedure must understand that:

Medical bills can become hard to understand. Anyone who has gone through healthcare experience will understand this simple fact. On such occasions, an individual starts receiving countless bills or documents from various providers and insurance companies, which can be confusing.

The more severe the healthcare experience is, the more difficult it is to understand billing. Furthermore, a lot of medical bills include errors. Studies have shown that nearly 80% of medical bills are incorrect, so consumers usually end up paying more than necessary. People even argue that medical bills are made complicated on purpose. This allows a hospital to overcharge the person and keep him from observing the overbilling.

Naturally, this process can make a person anxious, especially after medical treatment. An individual can easily understand all the medical bills with the help of these tricks:

Understanding Explanation of Benefits and Medical Bills

The first thing customers generally have is: Why are there so many documents in the mail? Some mailings include outlined charges and what is required to be paid by a consumer, and then stating it “this is not a bill.” If that is true, then what is it owed by the patient?

Going through a medical experience, an individual will generally get medical bills with Explanation of Benefits (EOB). Commonly, but not all the time, a person receives EOB first. This document is mailed from the health insurance company of an individual and focuses on the given services. The services include charges of the doctor, the amount paid by the insurance company, and what is left to be paid. These statements generally have “this is not a bill” printed somewhere on them. Keeping the EOB is important in order to cross-check with the medical bill.

A medical bill will generally state the same information as EOB, suggesting how to pay the procedure’s remaining balance. This is the bill for the health services.

Cross-checking the EOB with the medical bill is important. This helps to make sure that all services performed were documented correctly with the insurer and check if there were any faulty charges. Sometimes it can become difficult to carry out such calculations as no itemized bill may be provided.

Itemized bill

Service providers commonly do not send an itemized bill, but an individual can ask for one defining which services were given.

Such services might be categorized in diagnostic, medical, or disease codes. A person can check in the itemized bill to make sure if all the stated services were acquired. A person could call the billing department to ask about the unexplained charges if any discrepancies were calculated.

Prices

The prices will generally be listed with every service provided. Healthcare charges can be difficult to understand, but they can be searched online to know the correct prices. Consumers have the advantage of using Healthcare Bluebook to look out for fair prices online on general healthcare services.

A person concerned with being overcharged can also call the billing department for the service provider to check accurate prices. Double-checking is a great way to remove any doubts about billing and be sure about service charges’ accuracy.

Medical bills get complex to understand, even for the people working in the healthcare industry. Through proper study of the bill, a person can have more confidence that service charges have been calculated and documented accurately.

Necessary steps to take

People who do not take the proper precautions in understanding medical bills end up paying more than necessary. The bills charged by service providers might include hidden charges that the consumer is not aware of. The bills are generally presented in a complex way, but with proper observation, a person can understand them clearly.

A person can get tangled in medical bills and might find it hard to pay back. To avoid this, it is important to be sure that what has been charged is calculated correctly and there are no errors in the billing process. Even a single faulty charge can become difficult to payback.

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.

Interest rates that move our stock markets are known as the federal fund rates. These rates are also known as “overnight rates” as this depository changes by gathering funds from the Federal Reserve Banks. The Federal Reserve often uses these federal rates, also knows as “The FED,” to avoid and control inflation. So, by raising the rates of these Federal funds, they try to reduce the supply of funds available for buying and doing things, which is possible by making increasing the price of money itself.

Equally, when the Federal fund interest rates decrease, the FED’s money supply will be increased, making it even more affordable to gather money while boosting spending. In a lot of countries, banks do it a lot and all for the same reasons. This cycle is how money gets added and removed from circulation.

The amount that a bank pays to other banks is extremely significant due to their prime interest rates. The interest rates that commercial bank charges when it comes to their most creditworthy clients depend upon the Federal fund rates. These rates have a lot of power when it comes to affecting the overall economy and interest rates.

What Happens When Interest Rates Rise?

When the Fed increases the federal fund rates, it will automatically affect the stock market. This will also affect the Fed’s borrowing of money by making it even more expensive. This has a trickle-down effect and leads to higher interest rates in the economy.

Now that the borrowing of money is more expensive, institutions related to finances will have to increase the interest rates that they receive from their clients that borrow money. However, businesses that take money from banks that develop and expand are affected by this more directly. So, when a bank makes scrounging even more expensive, these companies will not borrow as they used to while paying higher interest charges. Reduction in business spending can very well hinder the growth of a company. In other words, it usually means that the stock prices are being affected.

Interest Rates and the Stock Market

So if a company is slowing down on its growth or becoming less profitable, going through debt, or generating less revenue, it is obvious that the amount of cash flow would drop. Due to this, the prices of a company’s stock will drop as well. If this decline in stock prices affect enough companies, the whole market may decline or possibly crash.

Having a lower expectation regarding a company’s growth and cash flow will affect the invertor’s ability to grow from the stock price obligation, making stock ownership a lot less desirable. Keeping that in mind, investing in equities can be too unstable compared to another type of investment. There are a few areas that do benefit from interest rate hikes. Sectors like banks, brokerages, mortgages, and insurance companies’ revenue rise as interest rates increase so that these companies can charge more for lending because of it.

What Happens When Interest Rates Fall?

So when the economy is declining, the Federal Reserve stops all federal funds to help boost financial activity. However, a decline in their interest rates given by the Fed has conflicting effects as compared to the rate hike. Economists, along with investors, both view low-interest prices as substances for growth. The advantage of personal and commercial borrowing is that it can convert leads to bigger profits and a robust economy. Due to this, consumers will spend more with lower interest rates, making them feel like they can finally purchase a new house and afford private schooling for their kids. Not only that, but businesses will also have the capability to finance their processes and expansions under a cheaper range of funds. This is exactly why the future money-making potential will probably lead to higher stock prices.

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

Many decades ago, economists discovered the need for disruptive innovation and technology. Every few years, industries and markets need disruptive innovation to drive the industry’s growth and the overall economy. In more recent years, some examples of disruptive technology and innovation are things we now take for granted and often use, such as GPS, artificial intelligence assistants, e-commerce sites.

In the past, those innovations that were considered disruptive technology at the time would be things like the airplane, electricity, and the automobile. At the time of their introduction or invention, they were considered radical, and now they are widely used and considered the norm.

Disruptive technology is important as it significantly alters how the economy operates and sweeps away old systems or outdated inventions or habits, and replaces them with something far superior. Here are four steps to take when introducing disruptive innovation and technology.

Find a Market that Needs Innovation

While every industry or market has needed radical changes to fill a need or solve a problem, if you are looking to cash in on disruptive technology or innovation, you have to be the one that sees problems and needs where others may not see one.

Companies that are thriving now came up with disruptive innovation and technology that radically changed the face of the market they were in and continued innovating to stay on top of those markets. Some examples would be Netflix finding a way to innovate the movie-watching industry by eliminating the need to leave your home to watch movies. Amazon was the online answer to giant box stores and malls.

These examples should give you an idea of what to strive for when looking at disruptive technology and innovation possibilities.

Track Down Companies that Exist and Fill a Gap or Solve a Problem

If you are looking to invest in disruptive innovation and technology, you want to look for start-ups or starting your own company that fills a gap or solves a problem. The companies that have the possibility of being the next Netflix or Amazon or Apple are the ones you need to tap into or emulate.

Because they were not big when the founders of these companies began them to fulfill needs or solve problems, you will need to see the potential before investing in the company.

Create a Real and Working Business Model

Your revolutionary innovation and technology will need a working business model to show possible investors why they want to take a risk and invest. Remember that almost every industry giant looked destined for bankruptcy while building the business into the giant they are today.

As long as you understand you have to work through the suck and keep building capital to get you through the lower levels of implementation of your disruptive technology, your endurance will pay off and equal big gains in the future. Most historical disruptive innovations were thought of as radical and even impossible ideas in their time. Keep pushing forward for as long as you believe in your idea.

Invest Then Watch the Market You are In

Even if your disruptive innovation is highly successful, you will need to keep an eye on the market you are in once you invest and release your innovation or technology into the market. Keep in mind, if your innovation takes off, there will be not only knock-offs but those that will come in and bring their advancements and innovation to the table.

You can’t just rest on your laurels. You have to keep up with and exceed the Jones’s when it comes to staying ahead, and relevant in the market your innovation is in, and to do that, you will need to keep moving forward.

You must stay on your toes and be ready to get out or dive deeper as the market conditions change. The deeper you understand the disrupted market, the better equipped you’ll be to take full advantage of the fundamental changes. You have to be ready to continue to innovate and change or risk selling or leaving the market if your innovation or technology becomes irrelevant.

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 job-search process can be extremely overwhelming, especially when you are desperate. In this situation, it is up to you to cope with this stress and maximize your job search. Break down the process into smaller steps that you can manage. Try to get something useful done every day in your search. The process may be slow, but with continuous progress, you can achieve your goals. When looking at different job options, prioritize the work you wish to perform rather than work that bores you. This is the best and most productive way to get your dream job.

Just as we need a proper budget for financial management, we must conduct our job-search with a disciplined schedule while adhering to proper rules. By implementing these rules daily, you will maximize your job search and move closer to finding that dream job. This does not mean that you are going to be able to adhere to 30 rules every day. Concentrate your job search journey from the initial stage to the final stage. The first stage includes resume creation, searching for relevant jobs within your industry, etc. The second one includes interview preparation, thank you note, job approval, and rejection. Implement each of these job search recommendations daily to have less stress and more concentration on your dream job.

It would also be best if you learned how to organize and schedule the job search to meet your goals. Let’s have a look at that!

Start with resume structuring

Structuring your resume ensures awareness of your end-goals, which you must be prepared for. Ensure your resume is the strong foundation that enables you to get the interview for that dream job. First, polish your relevant skills. Next, observe your professional qualities and include them in your resume.

Start Networking

This is an integral part of the job-search journey since utilizing your contacts gives you the opportunity to receive recommendations and leads. This process may inform you of multiple job openings that are suitable for you. There are plenty of tips for the best networking. Some include using LinkedIn, creating business cards, and being active on social media.

Start your research process

This part of the process will require your full concentration. You must conduct a search on multiple platforms. Ensure that your resume and cover letters are highly attractive and will compel your potential employer to reach out to you. Upload it to different websites and social media, as you will get lots of traffic there. Facebook is a platform where multiple job search groups are available. You must upload a post in these groups specifying what type of job you want. Then, potential employers can comment on your post or message you in private. Also, various companies upload career opportunities with the required details so you can consider them. Indeed.com is another website where you can post your resume and upload a file with a relevant cover letter. Make sure you respond to job postings in your desired area.

Synchronize your network   

You can also search for jobs by visiting different platforms in your circle. Our interests reflect every activity that we perform in our daily lives. For instance, if you are fond of reading and writing about politics, fiction, app development, website development, design, etc., search for jobs using these keywords.

Get ideas from your search history or most visited websites. Taking the time to establish and focus on your interests will ensure that you find a job you actually enjoy and are passionate about.  

Search job listings

The best way to find jobs on the internet is by visiting different channels and platforms. When looking for a job, search in your relevant area, your respective domain, etc.

Remember, humans, spend a third of their life at work. Be sure to choose a job that interests and challenges you. When you are passionate about something, you perform better, which could lead to greater earning potential.

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 Thrift Savings Plan (TSP) is the government’s answer to the 401(k) for federal workers and the military. It was introduced in 1986 as part of the Federal Employees’ Retirement System Act. The Thrift Savings Plan allows investing in a tax-advantaged retirement account similar to the 401(k) plan. The Thrift Savings Plan contributions can be taken straight out of your paycheck, and you can invest that money in a variety of different funds.

Who Is Eligible for the Thrift Savings Plan?

To be eligible for the Thrift Savings Plan, the federal government must be employed or be a member of the military. If you are unsure if you qualify, contact your benefits office to see eligibility and ask any questions about the Thrift Savings Plan when considering whether you are eligible. If you are in doubt, you should contact a financial advisor specializing in the Thrift Savings Plan.

Traditional and Roth Thrift Savings Plan Contributions

There are two tax contribution options available to choose from when you contribute to your Thrift Savings Plan account, the traditional contribution or the Roth contribution. Here are the differences.

Traditional Thrift Savings Plan Contribution

With the traditional contribution option, your contributions are made with pre-tax dollars. You pay taxes on the income upon withdrawal after retirement, according to your income bracket. This payment of taxes means any gains will be taxed upon withdrawal as well.

Roth Thrift Savings Plan Contribution

Your contributions are made with the Roth contribution option after taxes have been taken out of your paycheck. This option is often viewed as the better option because any gains are tax-free, and you won’t pay any taxes on the money upon withdrawal after you retire.

The Thrift Savings Plan has yearly contribution limits. Search online, or contact your benefits office for the current year limits.

Contribution Matching

Like many civilian companies, your contributions can be matched up to a certain percentage by the agency or branch of service you are in at the time of contribution. Some will match up to 5% of dollar-for-dollar, so if you contribute 5% of your pay, you get a full match. To make the most of this free money, it is suggested that you contribute at least the amount that will be matched.

Contribution Amount

The suggestion is to contribute 15% of your income. However, because there is a set dollar amount yearly contribution limit, you should adjust accordingly. Since your agency or branch will match up to 5%, you should contribute to that amount, because that is free money you don’t want to leave on the table.

What investment funds does the Thrift Savings Plan offer, and which one is right for me?

There are multiple funds to choose from, all with different advantages and disadvantages. To explore these investment funds, which is best for you, consult a professional who understands the Thrift Savings Plan. These funds are not the same for all, and you can invest in more than one fund at a time.

What you need to know now about the Thrift Savings Plan

If you are a federal employee or a uniformed service member, you should be contributing to the TSP. Having a nest egg for retirement is something every financially responsible adult should be focused on, even if getting a later start. You should at least contribute 5% of your income to secure the maximum price match and get that free money added to your future. And most importantly, hire a professional financial advisor that is entirely familiar with the Thrift Savings Plan to help you optimize your investments by choosing the right fund(s) in which to invest.

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.