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Recording all the economic data of a business relating to the company’s financial health is known as accounting. The accounting side of a business is what makes or breaks an organization.

A company’s accounting system includes a set pattern of recording all the data: the investment, the cost, profit, loss, or an asset. All this information is noted in different avenues of the accounting system of a business; this would include a balance sheet, an income statement, a profit & loss report, and cash flow statements. These financial calculations allow a business owner to judge their business and assess its progress in the market. 

But first, let us understand why you should keep paying attention to bookkeeping. Those business owners who do not pay any heed to business accounting and do not have a proper bookkeeping system could be in deep trouble. You should be a better business owner and keep your accounting system in check.

Why Is Accounting Important?

Accounting refers to jotting down all the transactions that make for the stability of your business. Setting up an inventory, sales, management, and every other aspect of business under the sun that has been added to your business plan to complete it needs to be identified and noted.

Noting down all the transactions done for the sake of the business plays a pivotal role in allowing the stakeholder to prepare their future decisions strategically. These decisions could potentially change the future of the company. 

This data also proves vital when a business owner is acquiring an investor. Accounting information reflects the company’s financial health and would cater to the organization’s future needs. The competition in the market is challenging, so the business owner needs to be fully equipped for the competitive air out there. To do this, the caretakers of the business must stay ahead in their accounts and have a correctly set system in place so that they do not have to deal with a plethora of calculations. 

Start From Day One: When you enter the market, you will receive a massive list of unsolicited advice, likely from those whose businesses have already drowned. Be smart and throw the list away because that list expects to be the suggestion: accounts can be taken care of later, do not worry.

The fact is it cannot take care of accounts later. A wise businessperson would always start on the first day of their business. Know that bookkeeping is just as essential for the business as setting up an inventory is. 

Do Not Mix Personal with Professional

You should create a separate bank account that would solely be for the finances of your business. If you do this right from the beginning, you will never face economic confusion because your personal and financial data will never intermingle. 

To open a business account, you could use your social security number (if you are the sole proprietor of your business). 

Create a Budget

Yes, we know finances can be tight when starting a new business. To keep yourself and your business in check, develop a straightforward budget to help you assess your company’s requirements. 

Once you have a budget set, the accounts clear by the end of the year. You can compare the two and see how your business has performed according to what you had in mind for it. 

A Bookkeeper or a Bookkeeping Software?

Business owners often make a mistake: they go into the business thinking they will be available 24/7 to cater to the company’s needs. It means they also decide to do the bookkeeping, which never happens. 

It would help to get a bookkeeper immediately before your financial records become a hot mess. A bookkeeper would oversee keeping your business accounts straight. 

You could also get bookkeeping software, which does the job automatically after being fed the required data. 

We hope you have read this article before diving into your business because now you know why you should pay heed to an accounting system. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Procuring capital for your brand-new venture could be one of the most challenging tasks on this planet. Assessing your business, hatching up a plan, and contacting investors could be strenuous, especially if you are new to this stream. The pressure mounts on the business owner as it is their job to land an astounding pitch that would get them the investment they need for the progress of their venture.

The company’s growth depends on the investor’s interest in your business. Regardless of where the funding comes from, the entrepreneur must devise an effective strategy to capture the investor’s attention by sharing the best bits about their business with them. Financial support plays a principal role in how the business plan evolves.

If you are new to this business, you may want to stick around to read about the foolproof ways to grab the investor’s attention.

Memorize Your Pitch By Heart

Just know that you get one chance at it.

Practice your pitch to the point that you know it by heart. While this would put your memory to evaluate, a unique angle would also beg your vocal expressions and gestures to stand out. The purpose of a pitch is to grab an investor’s attention just enough to get them to schedule a meeting with you. It would also mean that you would have to go over the minute details and instead focus on the solid facts about your business plan that make it unique.

Failing your pitch equates to you failing to land that specific investor. So, get into the rhythm and prepare an angle that would blow everyone’s minds.

Present Financial Evidence

Keep one thing in mind: numbers are everything.

You grab the investor’s attention when you start speaking in numbers. Let us get this straight: the investor is only interested in the numbers (in other words, money) you can fetch through the progress of your business.

It is vital that you set the financial records straight in front of the investor. It would give them plausible evidence to base their decision on. If your previous numbers are impressive, you can procure the check from the investor.

Know Your Audience

While pitching your idea to an investor, be smart and identify your audience. If your idea is rock solid but not pointed in the right direction, your business will fail, and the investor will not be interested in investing.

Whatever service or product you are trying to induct into the market, you should have an audience. This audience is a targeted group of people who would ideally be interested in your business plan. If you are confident about your audience, this will amplify the investor’s trust in you and your venture.

Have a Plan

A well-rounded plan would include an insight into the future of how the entrepreneur wishes to take things forward. A method for the next five years would be an excellent place to start. It would include the marketing plan, innovations for the product/service, sales target, and goals, short-term and long-term.

The investor wishes to know your plan to weigh your business’s success in the market competition. You will not get that investment if your business plan is inadequate or lacks prioritization. Ensure that your business plan checks all the boxes. It would increase the investor’s confidence in your business and credibility.

Research the Market

Make sure that you go into the conference room well-prepared.

Adequate knowledge about the market would prepare you for the worst as you expect the best. Chances are, there is already healthy competition in the field you are preparing to step into. Understanding the selling points of all your counterparts would prepare you to tackle them. Present this knowledge to the potential investor to let them know you are serious about business and give anything to take it forward.

These five steps could be your gateway to acquiring the attention of your potential investors. Despite there not being a guarantee of getting that check, your chances would significantly increase if you took the steps mentioned above.i. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

For any business operation or working relationship to work, you must follow specific rules and regulations to avoid loss and reap maximum benefit. Particularly in finance management, following a strict set of guidelines is crucial for any business. Failure to implement such rules can result in severe financial losses and even bankruptcy. It is why audits take place.

The finance department of a company, particularly its accountants and bookkeepers, has a crucial responsibility of correctly managing the financial data and reporting discrepancies without bias. Finance professionals must adapt to a strict code of conduct for their credibility as an accountant and its benefits.

This is why companies have a particular set of professional and ethical guidelines for the accounting department.

What are Accounting Ethics?

Since the individuals working in the finance department of a company have access to sensitive data, all such individuals must be bound by a code of conduct that restricts them from leaking data or manipulating the numbers in the balance sheets. This is where accounting ethics come into play.

Accounting ethics are a set of strict rules implemented for the accounts professionals of the company. Every company either creates its guidelines for the finance department or follows the standards set by the various associations of Certified Public Accountants.

Most ethics established by global bodies focus on the responsibilities of the CPAs and put a lot of stress on the academic and professional qualifications of every working individual in the finance department. A certified public accountant must lead the finance department to adhere to the state’s regulations and not succumb to the pressures of taxes, interests, and financial manipulations.

Here are some generalized accounting ethics that every company implements for its finance department.

Independent and Unbiased Accounts Operations

One of the critical issues companies face regarding finance management is the dependence and lack of objectivity among the accountants at work. As an accountant, it is essential to set aside personal priorities and manage the company’s accounts independently and objectively. Biasedness can lead to manipulating the numbers and cause long-term losses for the company. Thus, independence and objectivity are the primary elements in accounting ethics.

Integrity

Often, finance professionals fail to distinguish between what’s right by them and what’s right by the company. It is why integrity is one of the basic elements of accounting ethics. Accountants must dissociate themselves from factual information and report discrepancies without bias, especially when the case is about fraudulent information or malicious omission of essential details, which could significantly impact their financial standings.

Professionalism

The code of professionalism binds every accountant, and any intentional act of misjudgment or misinterpretation can put a question on the entire profession. Accountants need to adhere to state laws and comply with all regulations enforced within the company’s jurisdictions. This professionalism is the key to delivering the best accounting practices.

Competence and Expertise

While it is already necessary for accountants to have a proper academic qualification before starting a professional career in finance management and accounting, several other things come into play. Since the industry is evolving rapidly, accountants must keep up with the pace and remain updated with new regulations, tax laws, compliances, and technological advancements in accounting and bookkeeping tools. Many changes in the state regulations can change the outcome of an accountant’s analysis of financial statements. Thus, an accountant must have the right expertise and undergo proper training before being appointed to a professional organization.

Confidentiality

It is one of the most critical elements of accounting ethics. Since accountants have access to all the data and financial statements of a company, they must ensure confidentiality and make sure that no such data or information about a company is shared with or discussed with a competitor or any other irrelevant person.

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

Creating a household budget may not be the easiest thing in the world, but let us assure you one thing: it is certainly not the hardest either.

If this is your first time creating a household budget, the task may seem daunting, but it is not. All you need to do is track your income, identify your expenses, and create an expenditure plan for yourself.

Before we get down to business, let us understand why you need a budget to run a household smoothly.

Why is Budgeting Important?

Before you get down to business, you must understand why you need a budget for your domestic requirements. A budget is a financial plan that clearly states and divides the usage of money for the household.

When one starts taking up these adult responsibilities, it could get overwhelming to take time and do the math to create a budget. That is why you should sit down once and for all to analyze how you wish to manage your spending by following the five easy steps below.

Track Your Income

The first step for creating a household budget is to track the amount rolling into your bank account every month. It is your income and decides how much you can spend monthly.

If you know how much you are earning after paying all your taxes, you can create the ultimate plan to cover all your monthly expenses and may even leave you some money to save up, depending on your priorities.

Identify Your Expenses

Once you have the base amount you are dealing with, you should start identifying your monthly expenses. It could include your rent, groceries, utilities, transportation expenses, money spent on hobbies, and other channels.

One tip that may significantly impact your spending would be categorizing and prioritizing your expenses. Highlighting how much you are spending on each channel will help you realize where you may need to curb your costs. It is a significant step for those who may be looking to have some savings to their name.

Create a Plan

Now that you know your net income and have narrowed down your monthly expenses, you should start creating a plan that would aid you in spending the rest of your month smoothly without worrying about any financial crisis.

It would help if you began by separating the fixed and variable expenses. The fixed costs can easily be catered to as you can always identify them by tracking your previous records and spending habits.

A plan should help you differentiate between your ‘wants’ and ‘needs.’ For example, getting the groceries done is a ‘need,’ which is why you cannot save up in this department, but getting a Netflix subscription is a ‘want,’ which is why you could always choose not to get it if you are a little tight on money.

Have Goals

Budgeting may seem like just another household chore, but it could assist you in achieving your dreams.

Before you start implementing your budgeting plan, sit down and make a list of all your financial goals that you wish to achieve in the short term and long term. Your short-term goals should be ones you would accomplish within the next year, whereas you could set long-term goals for the distant future. For example, your short-term goal is buying a new television, but your long-term goals include your child’s education and a retirement plan.

Adjust Accordingly

Any budgeting plan created is never set in stone. Priorities change over time, as may your income. It is why you must be ready to make the changes in your household budget as per the hour’s requirement to cater to all your needs accordingly.

Having a budget could bring a sense of properness to the financial situation as it would help you soothe any wrinkles stopping you from making sound financial decisions. Ensure that the plan you have created is not too unrealistic and has enough room for slight variations.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Like everything else, an accounting cycle also has a specific time when a business owner must close it down. It is a necessary step in keeping the accounting system of a company free from any complexities. But this is not something that all business owners understand.

Closing an accounting cycle helps you smooth out any wrinkles and define the balances left at the end of the process. It enables you to stay coordinated with all the stakeholders.

You must follow specific steps when you begin closing an accounting cycle. It would help if you went about it systematically to avoid any inconveniences later. But before jumping into that topic, we must first understand an accounting cycle.

What is an Accounting Cycle?

An accounting cycle records all the company’s financial data saved, analyzed, and recorded over time. In an accounting cycle, all the data, including payrolls, investments, payments, profits, and any losses the business may have sustained in a specified period.

It assists a business owner in identifying all transactions revolving around the business and helps them analyze them, sort them out, and highlight the trial balance. Keeping the company’s finances clean and clear through an accounting cycle would allow the business owner far more than they can imagine.

Closing an Accounting Cycle and Why It Is Important 

The process of closing all accounting entries begins once an accounting cycle ends. Each accounting cycle stays in use for a specific amount of time before it is time to bring it to a conclusion. The job of closing entries is to clear out any dues and balances before a new cycle begins.

Closing an accounting cycle is one of the essential parts of having a successful accounts system for your business. Clearing any due payments means that the balances are all presented clearly, so no doubts are in the equation. Although sorting and keeping the finances organized is what accounting is based on, clearing due and balances is an equally crucial step that would keep the business in excellent financial health.

Closing entries also highlight the progress of the company. Once the cycle is closed, all remittances are calculated and compared to the past year’s. It would be vital for the business owner to conduct their expenses if they know their company’s performance.

Steps to Close an Account Manually

1. The first step in closing entries for an accounting cycle is that the accountant/business owner must identify and locate all the revenue accounts under the company’s name.
2. Once located and identified, the accountant must calculate each entry made in the accounting journals for each account to calculate the credit and trial balance.
3. The accountant should return the accounts to zero credit so that it can clear the report.
4. The next step would be to locate all accounts that deal with expenses. Once these accounts have been found, as with the revenue accounts, the accountant must calculate each entry for all the expense accounts to bring the credit down to zero.
5. The calculations then move towards the income summary accounts. If there is a credit balance by the time the funds are cleared, that would mean that the company has profited. But if the balance is in deficit, the company has suffered a loss during that cycle.
6. Finally, the accountant must turn their attention towards the dividend as well as the savings accounts. Once these have been cleared, it can calculate the company’s net income.

Let the Software do the Job

With the world undergoing a technological revolution, life has never been easier. Companies now invest in accounting and financial software to cater to their needs. The software does the job without making you go through the hassle of all the calculations, making the situation complex. Now is the time to invest in accounting software to complete the job easier and save the cost of employing an accountant.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Thanks to technology and globalization, you can access innumerable investments that will make your money grow. However, knowing the difference between planning your finances and investing your saved resources is essential.

While financial planning can include investments, investment planning is generally done by a professional specializing in stocks and other investments. A financial advisor helps a person with budgets, savings, planning for retirement, large purchases, and other general personal or business financial planning and advice.

What Does a Financial Advisor Do?

A financial advisor usually gives suggestions to clients lacking in-depth financial knowledge. The financial advisor receives a commission or percentage in exchange for their work. The consults for consumers and SMEs are part of their work. Be it goods or services. They are sometimes the intermediary between buyers and sellers.

Among their tasks is keeping track of the transactions they formalize. It would be best if you were careful about the laws. You have to monitor the transactions you helped carry out, establish business relationships with customers, and keep track of those that have already been made.

Accessing and developing new products or diverse markets is part of their work. Some activities that help you succeed are market research, reviewing current trends, and looking for other areas. Keep the records up to date so that the planning of strategies is kept in order and the objectives are met.

Your communication and initiative with the client must efficiently discuss results, generate meetings, and set new goals. Financial advisors provide customized financial solutions and execute orders in the stock market and financial products, i.e., shares and annuities.

In the same way, they manage financial activities on behalf of their clients. They occasionally provide advisory and consulting services; however, their work is merely based on a relationship of planning and transactions or financial operations.

What is an Investment Advisor?

The investment advisor is a professional who uses their knowledge and experience in managing their clients’ investment portfolios. The figure of the investment advisor is known in other countries as Investment Advisor. It has been very successful so that many of the world’s most significant heritages have an advisor with them.

The advisor designs investment strategies based on their objectives, risk tolerance, and unique investment ideas. Apply these strategies to your customers’ accounts and update them according to the events in the financial markets.

It seeks to inform you as widely as possible about the product you are interested in since most of the investors’ complaints regarding their adviser are given because the client did not understand how the contracted instrument operates.

By the Securities Market Law, investment advisors should profile their clients and explain how they will obtain benefits and the risks that their investments could have. They also make investment decisions on behalf of third parties if authorized by the owner. They give recommendations and provide investment advice.

Consider if your advisor has a long or short history. Remember that someone with experience of at least four years in the same institution is better than a young person with a short time since graduation. Experience always pays off when something so precious as your finances are involved. This is not the place to be frugal. 

Check if it is someone who has credentials. Independent investment advisors and those belonging to a credit institution, broker-dealer, investment fund operator, or fund managers for retirement require registration with the CNBV and comply with the measures established by the Market Law of Values.

Occasionally, the advisor can also be an investment portfolio manager. You need to know your experience operating other investors’ money and the results you obtained. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Logistic businesses are expanding not only on the local level but also on a global scale. Everything we use in day-to-day life is transported from one place to another within the supply chain cycle. It is where you can step in and earn excellent profits.

While getting into the industry is not challenging, staying successful in a logistics business may face the most difficulties. Since you are starting your business post-pandemic, you need to focus on creating strong business plans and strategies. Your plan should be strong enough to lay the firm foundations of your business. 

Whether starting from a lorry or a mini-loader truck, you must be well-prepared for the competitive industry. Stepping into the logistics industry does not have any strict requirements, but it is tricky to maintain your position in this field. But nothing is impossible if you’re taking suitable approaches and working on your business plan efficiently.

As you begin to plan a logistics business, make sure to focus on things you need to learn, focus, and acquire before you launch. Prioritizing and neglecting stress and challenges in the later stage is essential. Take these steps and kick off your logistics business.

Decide Your Specific Transport Niche

Before you begin your logistic business, you first need to set your goals and define your target audience. Which niche to choose? Because there are multiple types of logistics companies in the industry. Please select one of them to become a titan of your field.

The best part about this industry is its countless options. You can start anything from logistic corporations to medical transport services. Choose one niche and try not to become the jack of all trades. Why? “Jack of all trades, master of none.” If you are unsure which niche to choose, research what is in demand in your area and then decide.

Develop a Strong Business Model

Once you have chosen the niche, learn all about it. It’s time to make the business strategy, specifically, a business model. When structuring your business, the model helps define the company’s workflow. When it comes to structuring a business model, you have quite a few options – sole proprietorship, limited liability partnership, and limited liability company.

• Sole proprietorship – it offers flexibility. You can either work as a partner or as an individual. The only downside is that the company’s loss impacts an individual’s financial situation.
• Limited Liability Partnership – you have an opportunity to work with others. In this case, each partner assumes equal risks and divides debts equally. All partners need to make decisions together.
• Limited Liability Company – if you operate as an LLC, you and your company are two separate things. Any business losses will not impact your personal finances.

Apply for License and Permits

When you begin your business, you need to have a suitable license. It would help to have many licenses and permits because you work with different people, passengers, and cargo companies. Here is the list of licenses and permits you will have to acquire to set up a logistics business.

• Commercial driver license
• Fuel carrier license
• Heavy load or cargo permits
• Insurance coverage for drivers, sound, and passengers

Consider Maintenance and Recertifications

When owning a logistics business, you must consider future challenges and possibilities. Maybe your services are new, but long-term usage requires quality and safety. Keep up with the routine maintenance to ensure your audience doesn’t have to pay for low-quality services.

Do regular inspections keep a check on your logistic business certifications? Try to manage in a way that your business functions smoothly. It is easy to overlook minor details in day-to-day operations. Setting up reminders for updating and maintenance prevents many obstacles.i. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

People are moving towards solar energy sources instead of the electricity provided by the powerhouses. But what exactly is solar energy? Solar energy is the radiant light provided by the sun, which can be converted into electricity. That electricity helps to power the electrical appliances and lighting systems.

Systems powered by solar energy can free you from the trouble of electricity down or power failures in the town. Whether you have a big meeting coming up or have to get dressed for a party, with a solar energy system, you can take things at your own pace without any worry. Solar energy has made the lives of people easy.

There are five types of solar energy:

• Photovoltaic Solar energy
• Concentrated Solar energy
• Water heating solar energy
• Solar Pool Heating
• Thermal Solar energy

So now, let’s address the elephant in the room: is investing in solar energy systems beneficial or disastrous in 2021? Let’s dive into the pros and cons of solar energy. Many people think it’s beneficial, while some say it’s not. First, let’s get right into it so that you can decide for yourself.

Advantages of Solar Energy

Reducing the electric bill

The first advantage in everyone’s mind is the reduced electricity bill. When you opt for solar energy, you will see a significant drop in your electric bill. You will save a lot of money when installing the solar energy panel in your home.

Many states require utilities to offer net metering, which reduces the electricity cost with the solar system’s energy. Such a system helps when you are running low on income and can’t handle the significant amount of electricity bills.

Solar is cheap

Another advantage of solar energy is that it’s the cheapest option available. We know that electricity prices continue to rise, touching the skies, and solar energy prices keep decreasing.

The rate that the respective people have noticed is that 70% of the cost has fallen over the past years. This invention has made the lives of homeowners easier than before. Another advantage you can take of the solar incentives is installing a solar system by the end of 2022; you can get a 26% federal tax credit.

Seeing a return on your investment

If you think solar energy can only reduce your electric bill, my friend, you are wrong. They can also make you earn a little extra money. As said above, through net metering, you provide excess power to your solar energy systems to generate utility.

Many states have incentives such as Solar Renewable Energy Credits (SRECs) that can make you earn hundreds of dollars annually. Of course, it also depends on where you live. All your earnings from saving the electricity bill, net metering, and other incentives can help you pay back the cost of your solar energy system.

So, these were the advantages of the solar energy system. Now, let’s move on to the disadvantages of solar energy.

Disadvantages of Solar Energy System

Intermittent energy sources

The solar energy system is an intermittent source; why? There are three reasons behind it.

1. The sun doesn’t rise at night, so the solar panel can’t generate power at night
2. The intensity of the sun’s rays varies with location, time of the year, and day.
3. Clouds and snow have a significant effect on solar energy systems.

People raise these factors when someone tells them to invest in solar energy systems for their homes. As time passes, these things are changing, and cost-effective batteries are in the process of making the solution to these problems. The homeowners can save the battery and store it for use at night.

Solar Energy Systems Require Space

Another disadvantage of the solar energy system is the space it needs. The house owners can use the roof to install the solar energy system. But when you look at the large grid-scale solar systems, you will know that space can become a big issue for people.

Solar energy systems have low power density, meaning they need a larger area to generate the same amount of solar energy as a coal plant.

Solar Energy Systems Can Move With you

The day you decide to move to another house or state, you will realize that you can’t move your solar energy system with you because it will cost you a fortune. The net metering agreement you signed with your utility is fixed on your property. And finding people who can uninstall and reinstall the solar energy system will cost you dollars.

So, these were the advantages and disadvantages of the solar energy system. Please install one so that you can save up money for later. The sooner, the better. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

It’s become increasingly clear that cryptocurrency is the future of money. Still, some prefer a more traditional means of exchange. Businesses worldwide are changing all of their transactions to cryptocurrency to maximize profits and improve business acumen.

However, cryptocurrency has exceeded its expectations quite significantly in the last few years. For starters, several kinds of cryptocurrencies are available on the market. One of them is the Vancouver Bitcoin.

Vancouver Bitcoin aims to combine the new with the old by offering a more human element to trading cryptocurrency. Here, we discuss how Vancouver bitcoins can be the future of cryptocurrency and how businesses can expand.

A Human Touch For a Digital Age

Vancouver Bitcoin is a brick-and-mortar currency exchange where clients can trade paper cash for virtual cryptocurrency. Trading in crypto can be a daunting and unfamiliar experience for many. Agents at Vancouver Bitcoin are waiting to help traders, both new and experienced in the cryptocurrency market, with their every need.

Unlike other digital services, their customer service doesn’t use automated voices or chatbots. Vancouver Bitcoin connects customers to experienced and knowledgeable customer service representatives who can assist each customer with their specific needs; this fosters familiarity between the client and the company.

What Does Vancouver Bitcoin Offer?

At Vancouver Bitcoin, anyone can set up a virtual wallet or use one they already own. They can buy and sell not just Bitcoin, as the name suggests, but other virtual currencies as well. Customers can choose to add to their digital wallet or cash out and leave with money in their hands. Transactions are carried out instantaneously.

Vancouver Bitcoin’s website also features helpful guides that can teach new traders about the cryptocurrency world, how and when to trade, etc. Their encyclopedia provides a comprehensive list of technical terms anyone must know to navigate the cryptocurrency market.

A Rising Threat, an Unlikely Savior

Such a service has proven to be more essential now than ever before, as it offers clients and traders a level of security not usually found online. Last month, Vancouver police announced that victims of a cybersecurity attack had lost a staggering $2 million. Vancouver Bitcoin is licensed by Canada’s Financial Transactions and Report Analysis Centre to protect its customers from such losses.

While other players in the crypto-exchange market move further toward an all-digital future, Vancouver Bitcoin is Canada’s last line of defense in the fight to keep the human element of currency trading intact. Their success is evidence that many people still prefer the comfort of brick-and-mortar stores over purely digital services. Watching how the company plans to continue thriving in a market where many consider business models such as theirs obsolete will be fascinating.

Benefits of Cryptocurrency

• Easy Transactions: One of the most outstanding benefits of cryptocurrency is that it offers easier transactions to its users. Long gone are the days when quick transactions were the need of the hour since it has become a norm.
• Low Transaction Fee: Transaction fees can be a cribbing experience, especially if you’re transacting a hefty amount. With cryptocurrency in the mix, you can reduce transactional costs extensively. On top of that, you can send large amounts with no effort whatsoever.
• Confidential Transactions: Cybersecurity has been a concern for business owners in the present era. With the number of mishaps happening in the last few years, maintaining transactional activities securely is a problem. Cryptocurrency, with its additional security, can virtually transform your banking prospects. So, if you want to expand your horizons on the digital forefront, you need to adopt cryptocurrency.

Conclusion

Cryptocurrency has been a saving grace for many businesses in the contemporary era. People have opted to expand their horizons on the digital forefront by cryptocurrency. So, cryptocurrency is the way to go if you’re a business owner who wants to make quick inroads.

Cryptocurrency is essential for startups since it helps business owners take the technological step immediately. On top of that, you can change your entire digital landscape with this implementation right from the beginning. So, what are you waiting for? Cryptocurrency is here and is going to stay. So, if you want the best possible results, you need to expand on it quickly!

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

By: Jennifer Brazer

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

Fact Checked By: Brittany McMillen

Become a Successful Franchisee: The Ultimate Blueprint

What if I told you that owning your own business didn’t have to feel like diving into the deep end without a life preserver? That’s the beauty of franchising: it offers the independence of running your own operation while surrounding you with the support of an established brand.

Take it from Jane Doe, who transformed her single Subway franchise in a small town into a thriving million-dollar venture in just five years. Stories like hers aren’t the result of random good fortune; they come from understanding what it takes to succeed and translating that into deliberate action.

If the idea of being your own boss excites you but the thought of starting from scratch makes you hesitate, franchising could be your perfect path forward. From choosing the right franchise to thriving as a business owner, this guide will pave the way toward your success.

Key Takeaways

• Understand the franchise business model and its financial dynamics.
• Learn how to choose a franchise opportunity that aligns with your goals.
• Build a solid financial foundation and operational plan.
• Use franchise training programs as a launchpad for performance.
• Effectively manage and market your franchise for sustainable results.
• Navigate challenges with actionable solutions.

Understanding the Franchise Business Model

What is franchising?

At its core, franchising is a partnership where a franchisor gives you, the franchisee, the right to operate under their brand using their proven systems. Think of it like being handed the keys to a high-performance car with clear instructions on how to reach a destination.

Here’s why this model works:

• For the Franchisee: Reduced risk, an established name, and operational support.
• For the Franchisor: Faster growth using passionate operators to expand their footprint.

The franchise industry continues to show remarkable growth. In 2023, the U.S. boasted approximately 806,270 franchise establishments, generating a jaw-dropping $858.5 billion in economic output—expected to grow another 4.1% in 2024 [1].

Whether your passion lies in food, healthcare, or real estate, there’s likely a franchise model that fits you.

How it Works

Owning a franchise means combining your leadership skills with the franchisor’s playbook. But know this: you’re not entirely on autopilot. Signing a franchise agreement lays out expectations—covering costs, royalties, and operational standards.

Key cost components

1. Initial Franchise Fee: The buy-in to start your franchise.
2. Ongoing Royalties: A percentage of sales paid back to the franchisor.
3. Operational Costs: Lease, inventory, utilities, and employee wages.

This structure delivers a partnership that succeeds when both parties stick to their commitments—and adapt to market trends.

For more on navigating franchise agreements, consult this consumer’s guide to buying a franchise.

Choosing the Right Franchise Opportunity

How to identify top opportunities

Not all franchises are created equal. To find the right one:

1. Evaluate market demand: Does the product or service resonate locally and have staying power?
2. Assess competition: Are you entering an oversaturated market?
3. Consider costs: Beyond fees, factor in working capital for ongoing operations.

If you want to start with trusted options, check Entrepreneur Magazine’s Franchise 500 list for established leaders.

Why some franchisees succeed

Here’s a key insight: 92% of franchisees remain operational two years after opening—an impressive stat compared to the 20% survival rate of independent businesses [4]. Why? Established franchises provide processes, branding, and built-in customer trust.

Case study: McDonald’s success blueprint

McDonald’s became a global juggernaut by prioritizing consistency, scalability, and innovation. Whether you’re in Tokyo or Tulsa, a Big Mac tastes the same. This approach—combining adherence to franchisor systems and adaptability to local tastes—can elevate your franchise, too.

Preparing Financially and Operationally

Financial preparation

Ready to take the leap? It starts with a financial game plan.

1. Create a Financial Map: Itemize costs like lease payments, inventory, and salaries. Don’t overlook smaller expenses—they add up.
2. Explore Funding Options: Consider SBA loans or dip into your 401(k) with professional guidance.
3. Track Financial Accuracy: Ensure precision in your records with accurate financial statement accuracy.

A solid financial framework can help mitigate early pitfalls and set you up for stability.

Operational preparation

Franchise ownership is a hands-on endeavor. Here’s how to hit the ground running:

1. Training Programs: Your franchisor’s training is non-negotiable. Learn their systems inside-out.
2. Infrastructure Setup: Secure your location, equipment, and tools.
3. Craft a Business Plan: Cover marketing, day-to-day operations, and staffing with help from these small business bookkeeping tips.

Utilizing Franchise Training Programs

Why training is critical

Training isn’t a nice-to-have; it’s the lifeline connecting franchisees to the brand. Superior programs offer on-site support, interactive modules, and real-time guidance.

Take Subway’s training program as an example: comprehensive two-week sessions ensure franchisees understand everything from product prep to customer interaction. This hands-on approach boosts readiness from day one.

Case study: Subway’s revival

Subway recently reported eight consecutive quarters of same-store sales growth thanks to marketing innovation, updated designs, and expanded digital offerings [2][5]. Their formula: pair great branding with franchisee readiness.

Managing Your Franchise Effectively

Key tips for franchise management

1. Hire and train your staff well—they represent your brand.
2. Prioritize customers: Happy guests return and bring friends.
3. Maintain strict adherence to franchise standards.

Great leadership also stems from efficient financial practices. Explore efficient business finance management for tools to keep your operation running smoothly.

Success traits of franchise leaders

Successful franchisees share these qualities:

• Leadership: They empower teams.
• Adaptability: They handle challenges creatively.
• Customer-First Spirit: They exceed expectations at every turn.

Those who embrace these traits consistently outperform peers in satisfaction and revenue metrics.

Marketing Your Franchise

Local marketing strategies

While your franchisor handles national promotion, local advertising can set you apart:

• Leverage Google Ads to target your area.
• Host exciting grand openings to build buzz.
• Work with local influencers to connect authentically with your community.

For SEO-specific insights, dive into franchise SEO strategies to amplify your regional presence.

Case study: Domino’s marketing evolution

Domino’s reshaped customer perception by spotlighting speed, quality, and digital innovation. Their “30 minutes or less” campaign evolved into easy app-based ordering, proving how local marketing can elevate global brands.

Overcoming Common Franchise Challenges

Financial hurdles

Cash flow inconsistencies can derail your progress. Combat this by automating bill payments and building a contingency fund for slower periods.

Staffing woes

Many businesses experience high turnover and low morale. To keep your team onboard, offer competitive pay, incentives, and flexible scheduling. Learn from turnover mistakes and be proactive.

Conclusion

Owning a franchise is the ultimate balance of independence and support. By diving into a proven system, honing your leadership skills, and following these strategies, you can build a thriving business that stands the test of time.

As someone who has spent over 15 years empowering businesses to succeed, I can tell you this: your potential as a franchisee is only capped by your willingness to learn and act. If you’re willing to step up and embrace the opportunity, the rewards can transform your life.

Have more questions? Our expert team at Complete Controller is here to help. Let’s start your journey here.

FAQ

What steps should I take to start as a successful franchisee?

Research your options, secure funding, and complete franchisor training.

Why is training so important?

Training equips you to replicate the franchisor’s model successfully—it’s your lifeline.

What are common challenges for franchisees?

Cash flow issues and staffing challenges are common. Both can be solved with strategic planning.

How do I market my franchise locally?

Utilize Google Ads, host launch events, and partner with local influencers to create buzz.

What traits define successful franchisees?

Leadership, adaptability, and customer focus drive success.

Sources

• https://passivesecrets.com/franchise-statistics/
• https://www.vettedbiz.com/buying-a-subway-franchise/
• https://www.ftc.gov/business-guidance/resources/consumers-guide-buying-franchise
• https://franchise.neighborly.com/how-this-works/franchising-statistics
• https://www.qsrmagazine.com/story/qsrs-transformational-brand-of-2023-subway-becomes-a-winner-again/

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