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Index funds are my favorite investment funds, and I have invested most of my money in such funds. This article will tell you everything you need to know about indexed funds, even if you don’t know anything right now.

You will discover what exactly they are and how to invest your money in indexed funds without spending time or complicating your life and aspiring to outstanding returns. In addition, I will tell you how I invest my own money and what my preferred index fund is.

 

What are Index Funds?

Indexed funds, index funds, or passive management are investment funds that directly replicate a stock index.

An investment fund allows you to invest your money in thousands of companies at once, and fundamentally, there are two types: assets and indexes. Active funds, such as Bestinver, Cobas AM, True Value, etc. They are led by a manager who intends to exceed the profitability of the market.

On the other hand, indexed funds replicate the most crucial stock indexes, such as the IBEX 35, the S&P 500, the Euro Stoxx 50, or the MSCI World. In this way, you obtain the historical profitability of the markets in your investment portfolio, a return of approximately 7% per year.

 

Advantages of Indexed Funds

 

• Meager commissions

Commissions are essential when you invest your money since an extra 1% annual commission will lower your profitability in the long term. The indexed funds have the lowest commissions in the market, being able to invest in some funds of the best managers, such as Vanguard or Amundi, from only 0.30% per year.

An annual management fee of less than 1% is outstanding and will make your long-term results excellent. On the other hand, active management funds and bank funds have annual commissions greater than 2%, a big difference.

The difference in commission is that a management team dedicates hours and hours to analyzing companies and trying to exceed their benchmark, while there is no such work in the passive funds.

• You aim for an excellent average return

As I told you before, the historical profitability of the stock market has been more than 7% per year. If you invest your money in an index fund that replicates a vital index, you will likely achieve that profitability in the long term.

You already know that the stock market is unpredictable and that past returns do not ensure future returns, but the risk is minimal if you invest in the long term.

• Low risk and high diversification

Investing in thousands of stocks and bonds in a single fund maximizes your diversification, and therefore, your long-term risk is minimal.

In addition, you can combine several funds to not invest all your money in equities or exchanges and give more weight to the fixed income depending on your investor profile.

Combining funds will be done automatically if you decide to start investing in indexed funds, as I will recommend later, applying the Boglehead strategy.

• Complications

Investing your money in index funds does not involve any work or complications, and in fact, it is something you can do without spending even 5 minutes a month.

If you decide to invest in these funds through an advisor theft, you will not have to spend even 1 minute a month, as they will do everything for you. The minimum investment is meager, so that you can make periodic contributions.

If you want to invest directly in stocks or active funds, the minimum investment is usually somewhat high, but it is not the minimum investment to invest in indexed funds.

You can invest in indexed funds with minimum contributions of $100 or $150 per month, even $50 per month. You must only remember that the initial investment is usually somewhat higher, with the lowest being around $1,000.

• Invest in indexed funds with a broker

Indexed funds would be the traditional option. Open an account in a broker that allows you to buy indexed funds and create your portfolio from scratch.

In this case, the first thing you should do is choose a broker appropriate to your strategy. If you live in Spain, I recommend Selfbank and BNP Paribas, the two that I use. Second, you will have to decide how you want your portfolio of indexed investment funds to be. I believe it is essential to have a fund replicating the MSCI World.

MSCI would complement it with a fund indexed to emerging markets and some fixed-income funds to stabilize your portfolio. As for managers, without a doubt, the best is Vanguard, closely followed by Amundi and maybe Pictet.

I do not consider this the easiest way to invest your money, and if you are starting, I would advise you to do it as follows. You can start doing so if you have experience and take a while if you consider it appropriate.

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.

A job costing system delivers a well-organized method to determine the accurate expenses required for raw material, labor, and overhead before manufacturing a product. Getting relevant data about manufacturing costs permits you to evaluate propriety and decide whether to produce that product. Besides this exceptional benefit, job costing provides eccentric benefits that set it apart from the costing process, another cost calculation method in the production sector. 

For companies that deal with manufacturing and contracting, a job costing system is a significant part of their financial records. It allows them to track and predict job costs, ensuring the profitability ratio and timely delivery. Furthermore, a job costing system empowers versatile project management.

Getting the Job Costing Statement the Right Way

Generating sales is highly prioritized by every business, but they also stay prepared for obstacles while pricing the products. Companies strive to craft affordable products so that every customer can purchase them. 

Successful companies utilize a job order costing system, and this system assists in determining the components used to prepare a final statement. It might appear facile, but it is not. Specific risks are involved, and if the project is complicated, tackling the threats would be an ideal approach to profitability. Even if the profit margin is insufficient, it will still conduct job costing. A business that implements such a job costing method contains the following characteristics. 

1. It manufactures products according to the client’s specifications. 
2. The products that a company manufactures are not uniform. 
3. It provides unique services to every client. 
4. Through this calculation, the company can maintain separate files on every item.

Importance of Job Costing for a Successful Business

Controlling business operations while maintaining proper financial records can be daunting. Still, it implies that accounting for business operations needs more portions from Work in progress (WIP) to the cost of goods sold statements. It is not always apparent when costing issues emerge. Besides this, there might be an absence of an appropriate cost-controlling system, which increases the risk of additional costs that threaten the possibilities of a business’s success. 

Significance of a Job Costing System

To understand the significance of implementing a job costing system in your business, you must go through the following benefits. 

• Financial stability

Companies maintain a certain level of credibility and reputation for monetary lenders. For bonding operators and customers, the business must foresee the future consequences of their projects smartly. Enterprises that cannot manage it with surety will find it extremely hard to accomplish their goals. 

• Job management

With the assistance of job costing reports, business operators and management can efficiently approach their business’s progress and productivity. This way, they can persuade the workforce to reduce costs and increase revenue. 

• Profitability

The job costing system permits you to allot costs separately and determine the profit margin you will get on every job. This way, you can also anticipate which operations are more productive for producing a particular product.

• Easy accessibility

The system provides easy access to the expenditures incurred on each job, even during the production processes. Accessibility allows you to review costs gradually, recognize all the items included, and comprehend the reason for the happenings. Based on your research, you can develop intelligent strategies to tackle costs in the future. 

• Accuracy

Apart from all the evident benefits, the job costing system is accurate. It directs the costs to their respective accounts, and it reduces the chances of uncertainty. 

• Flexibility

This system is smooth enough to calculate indirect costs, such as manufacturing. The calculation will be challenging without this system, mainly because it contains items, including the employees’ salaries and raw materials used in the production processes. 

• Constant monitoring:

The job costing system allows you to constantly monitor the manufacturing processes while providing valuable time to recognize potential errors and make corrections to avoid grave consequences, including defective items and budgeting. 

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.

Whatever the implications of COVID-19 for daily life in the United States, commercial and legal issues are no longer hypotheticals. Disturbances are already occurring and will continue indefinitely. They will undoubtedly happen on a large scale, particularly in metropolitan areas.

Whether they are production firms, theatre chains, or event management companies, businesses in the entertainment business may face particularly severe consequences. They should begin planning immediately for loss prevention, mitigation, and reaction. Apart from regular due diligence, entertainment organizations should now consider fundamental challenges.

Your Employees

All employers have fundamental responsibilities to their employees regarding workplace safety and dangers. Your company’s operations and local, state, and federal legislation determine the extent of your obligations to employees. Regulatory values are not the only way to express an employer’s responsibilities. The company can utilize them to back up a sort or other employee demands in the case of a work-related injury. COVID-19 hazards that are specific to your personnel. In addition, handbooks and workplace policies, including COVID-19 revisions, should be explicit.

Decrease in Advertising Spending

As a result of supply chain challenges or sales declines, significant companies may reduce their advertising budget. For example, if inventory concerns arise due to supply chain restrictions, consumer packaged goods or manufacturing-related enterprises may reduce ad expenditure rather than risk selling products that are not accessible. According to a poll, 7% had abandoned advertising, and 14% shifted their offline spending to online. According to industry insiders, advertising growth rates in China would drop from 7%, as expected before the epidemic, to 3.9 %.

Consumers may also reduce non-essential purchases, affecting how firms deploy advertising dollars throughout their product selection. Retailers in brick-and-mortar stores will see a reduction in sales.

Insurance

Event cancellation (which may include promoters, artists, sports teams, and event venues), liability, first-party/property, business disruption, health, and workers’ compensation should all be reviewed prospectively by entertainment firms. You should develop internal claim reporting processes as soon as possible to help with timely reporting and insurance reporting clauses. You may offer relevant coverage types via new policy forms issued by the Insurance Services Office or elsewhere to the extent coverage has potentially applicable exclusions.

Lower Spending Outside the Home

Movement restrictions and mass gatherings are to remain in place for a time. As a result, less money will be spent on media methods and commercials aimed at those not at home.

Governments have already imposed restrictions on large-scale social gatherings. As a result, attendance at entertainment venues such as movie theatres, restaurants, and pubs has decreased. For example, in Italy, where more than 9,000 confirmed coronavirus cases have been reported, the government has ordered closing cinemas, theatres, and restaurants containing eateries and stores to keep consumers at least one meter away.

Contract Review

All contracts impacted by COVID-19 (or the associated interruptions and mitigating measures) should be reviewed again. Those joint “force majeure” terms you did not read or ask counsel to examine before signing the event-related contract, for example, should be evaluated by counsel now, not after contract duties are not met.

Interested in Online Media Consumption

Self-isolation and quarantine measures may enhance media consumption in the house as more individuals stay home. Quarantine might lead to more people using entertainment services like video-on-demand and gaming.

According to the Financial Times, when China adopted statewide isolation measures, average weekly app downloads increased by 40% in the first two weeks of February compared to last year. Weekly game downloads on Apple devices increased by 80% in the same month compared to the previous year.

PR/Crisis

Although it may not appear so, COVID-19 is affecting a wide range of businesses. All communications should be straightforward, trustworthy, and accompanied by actions in keeping with the statements.

Bottom Line

Every business is unique, and this article touches on the challenges that entertainment firms should consider. The bottom line for any organization is to view all the risks connected with the confusing COVID-19 issues ahead of time. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud 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

Financial Goals & How To Achieve Them

Most people spend more time planning their next vacation than thinking about their financial future. The irony? One is fleeting, while the other—your financial health—lasts a lifetime. As the CEO and founder of Complete Controller, I’ve spent more than 15 years guiding individuals and businesses toward sound financial management. Along the way, I’ve learned one thing for certain: financial success isn’t about luck or guessing—it’s about having a plan.

Let’s dive into how you can set and achieve financial goals, build a secure future, and stop winging it with your money.

Did You Know Most People Wing Their Finances?

Here’s a surprising fact: only 32% of Americans have a long-term financial plan. That means the majority are winging it, hoping things just “work out.” Unfortunately, hope isn’t a strategy. I’ve seen firsthand how this lack of planning can lead to financial strain and missed opportunities.

But the good news? You don’t have to be part of the guessing game. With clear goals and actionable steps, you can create the financial security you deserve.

Why Financial Goals Matter

Think of financial goals as your roadmap. Imagine you’re planning a cross-country road trip but have no GPS, no map, and no idea where you’ll refuel or rest along the way. Chances are, you’re going to get lost, stay stuck, or worse, never even leave the driveway.

Your finances are no different. Without specific goals, you’re essentially driving blind. That’s why setting clear objectives is crucial. Whether it’s buying your first home, paying off debt, or retiring comfortably, goals help you focus your efforts and resources.

Data to consider

Did you know that only 34% of Americans have even a basic understanding of financial concepts like budgeting, saving, and investing? (Source: National Foundation for Credit Counseling, “2020 Financial Literacy Survey”). This knowledge gap is why so many people struggle to set meaningful financial goals. If this sounds like you, don’t worry—you’re not alone, and we’re about to change that.

What Are Your Financial Goals?

Not all financial goals are created equal. They typically fall into two categories: short-term objectives and long-term aspirations. To get started, pick one goal from each category, and use it to fuel your progress.

Short-term financial objectives

• Save three months’ worth of expenses in an emergency fund.
• Pay off high-interest credit card debt.
• Save for a vacation, holiday season, or major purchase.

Long-term financial security

• Build a robust retirement fund.
• Invest in your first (or next) property.
• Grow your business or start a new venture.

Pro Tip: Write these goals down—seriously. Studies show you’re 42% more likely to achieve a goal if you write it down.

For a detailed approach on setting SMART financial goals, check out this resource.

Creating a Budget to Achieve Your Financial Goals

The next step in achieving financial goals is creating a budget. If goals are your roadmap, a budget is the vehicle that gets you there. Without one, you’ll likely spin your wheels or wind up stranded.

Why budgeting works

Budgeting isn’t about restrictions—it’s about clarity and control. It helps you tell your money where to go, instead of wondering where it went. As the CEO of Complete Controller, I’ve seen countless clients achieve their financial dreams simply by creating a realistic budget.

For some actionable tips, take a look at creating a realistic budget.

Budgeting strategies

• 50/30/20 Rule: Allocate 50% of your income to necessities, 30% to wants, and 20% to savings or debt payoff.

• Zero-Based Budgeting: Plan for every dollar of your income so expenses minus income equals zero.

A 2018 study by the National Endowment for Financial Education found that using budgeting apps increased savings by 25%. Consider using tools like Mint or You Need A Budget (YNAB) to jumpstart your process.

For extra tips, explore these budgeting strategies.

Building an Emergency Fund

If life has taught me anything, it’s that financial surprises happen—and not the good kind. Whether it’s a medical bill or a sudden job loss, an emergency fund is your best defense.

Why you need one

A survey by Bankrate revealed that 44% of Americans don’t have enough savings to cover three months of living expenses in an emergency. Knowing this, I always recommend starting with just $500 and building from there.

Steps to get started

1. Automate Savings: Set up automatic transfers to your savings account every payday.
2. Use High-Yield Accounts: Consider banks like Ally or Marcus by Goldman Sachs to earn more on your savings.

Want more guidance? Read about building an emergency fund.

If you’re still unsure why emergency funds matter, this resource on the importance of emergency funds explains it perfectly.

Investing Wisely to Grow Wealth

Now let’s discuss the “growth” part of your financial plan. As someone who has worked with thousands of clients over the years, I can confidently say that investing is one of the best ways to make your money work for you.

Where should you invest?

• Stocks: High risk but high reward over the long term.
• Bonds: Safer, more stable investments.
• Mutual Funds: Diversified and managed for you.
• Real Estate: Ideal for building long-term wealth.

According to Charles Schwab, the average return on a diversified stock portfolio over 20 years is about 7% annually—a compelling reason to start investing now.

Monitoring and Adjusting

Don’t set it and forget it. Life changes—maybe you’ve gotten married, started a family, or launched a new business—and your financial plan should reflect that. Commit to reviewing your goals and budget every quarter.

Seeking Professional Advice

Sometimes, even the best plans need a professional touch. Financial advisors can make the difference between good intentions and great results.

Take Sarah, one of our clients at Complete Controller. She started with no plan and a pile of debt. Together, we created a realistic budget, built an emergency fund, and implemented a smart investment strategy. One year later, she was not only on track for retirement but had also crossed off a dream vacation from her bucket list.

If you’re curious about how a financial advisor can help, learn more here: financial advisors can help.

FAQ

What’s a good short-term financial goal?

Start by saving three months’ worth of expenses in an emergency fund.

How do I begin investing?

Start small, using beginner-friendly tools like Robinhood or Acorns.

What if I don’t have much to save?

Automate $10 per week—it will add up faster than you think!

How often should I review my plan?

At least once a year, or after any major life change.

Are financial advisors worth it?

Absolutely, especially if you’re tackling complex goals or need expert guidance.

 

The road to financial freedom begins with one step. Set clear goals, create a budget, and stick to your plan. And remember, you’re not alone. If you need guidance, Complete Controller is here to help. Visit us at Complete Controller and take control of your financial future today.

Sources

Academic and Financial Research Sources:

1. National Foundation for Credit Counseling. (2020). Financial Literacy Survey.
2. Bankrate. (2019). Emergency Fund Survey.
3. Charles Schwab. (2020). Investment Returns Report.
4. American Savings Education Council. (1990). Financial Planning Survey.
5. Federal Reserve. (1980). Emergency Fund Survey.
6. National Endowment for Financial Education. (2018). Budgeting Study.

Online Financial Resources:

1. Complete Controller (various articles).
2. NerdWallet.
3. Investopedia.
4. SmartAsset.
5. InCharge Debt Solutions.
6. Washington State Department of Financial Institutions.

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.

PPC, or Pay-per-click advertising, is one of the most effective digital marketing strategies that generate instant results for marketers. PPC establishes paid ads on Google search results in pages that users can engage. Every click made has a price based on bids that the advertiser pays before starting the campaign. However, the results of PPC campaigns depend highly on the nature of the client, as everyone is different.

PPC brings a targeted audience, but it also acts as a scalable method to gain a relevant audience. Achieving successful traffic from PPC means optimizing the campaigns according to trends and avoiding common mistakes. 

Here, we will list tips to help make your PPC advertising campaign better.

Tips to Optimize PPC Campaign

• Define your goal

Everything must have a goal, and this is true for PPC advertising. You must have a definite and measurable end goal to optimize your PPC campaigns. Campaign goals are the foundations of a successful advertising strategy and function as a roadmap before initiating PPC. Defining your goal in a PPC campaign is essential to gathering relevant results.

It is essential to ensure that your goals contain measurable metrics to identify the achievement level quickly. After defining the plans, you have better chances to improve your campaign accordingly and see whether you have reached the desired level or not. 

• Focus on high-performing keywords

Using industry-related keywords is the heart and soul of digital marketing and is also essential in PPC. Consider click-through rate and conversions as the defining factor of PPC due to the selection of keywords.

If you want your PPC campaign to perform at its best and generate results, you must ensure that the keywords used are relevant. Focus on high-performing keywords through careful research before initiating your campaign to get the best ROI.

• Choose the bid strategy

Bid strategy is an element that will lay the groundwork for your campaigns and, therefore, must be chosen wisely. Start your bid strategy with goals and the desire to boost brand visibility. You can select conversion-based, impression-centric, view-based, or click-based bidding strategies. 

Each strategy has different requirements and result-generation metrics that you must select according to your goals. Remember that the bid strategy plans must be clarified; they will influence the overall campaign. 

• Display ads at the right time

The essence of a successful PPC advertising campaign is to show the ads to the right customer at the right time. Picking the right time and schedule comes down to your knowledge of your target audience. 

You must conduct market research and compare the results with the customer profile. You must create an advertisement scheduled for display. Your starting cost may increase as you experiment with different time durations. Once you have managed your campaign, displaying the ads at the right time for maximum reach becomes easy.

• Target the location carefully

Selecting the target location is just as important as choosing the right keywords. What is the point of running a campaign in a region where your targeted audience does not exist? Google AdWords allows you to select your target location for better engagement. 

It all depends on your business goals and the targeted customer base. For instance, if you are a local small business owner, your target is your locality. On the other hand, you must determine if you offer services or products for a broader range of customers.

• Always have mobile optimization

Half the population on the internet have smartphones that they use to remain online. This prospect allows you to target a massive clientele for your business. Like the practices of SEO, your PPC campaigns also need mobile optimization. 

Google AdWords allows you to preview your campaigns and review how they will look to your clients. Check for its module display and optimize it so your smartphone users can engage with your campaign quickly. 

Final word

A successful PPC campaign depends on combining keywords, strategies, and bidding techniques. In short, a carefully designed plan will help make the most out of a campaign. Take guidance from the above points to ensure you get the best ROI from the drive you run.

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.

Trust is the foundation of any relationship; you need to communicate to develop that trust. When you put your trust in someone, and they trust you in return, you both work on building something that can last for an exceptionally long time. If that relationship is the foundation of your business that you wish to develop, trust is the cement used to create that relationship.

While big or small businesses can benefit from a little social media presence, the need for social media for real estate must be balanced. Whether you are starting from nothing and wish to find new ways to develop relations with international realtors or investors, then here is how you can do it:

Facebook

Facebook is an easy decision that remains a staple of marketing for real estate agents. Facebook allows businesses to publish listing-related updates and content, communicate with customers, book appointments, and curate reviews on a single platform. FB user demographics represent the target audience for whatever given real estate business age and income. Facebook lets you reach out to people beyond your target audience.

LinkedIn for Realtors

As a primary business-to-business (B2B) network, LinkedIn is not somewhere to spot real estate clients. But it is a fantastic place to network with fellow realtors and show off industry experience.

Instagram

Instagram is booming for real estate businesses now. The platform has become more of a priority than a “secondary” social channel for boutique or luxury real estate businesses. It is no secret, but we all know that stylish property pictures go hand in hand with Instagram’s most popular types of content.

Furthermore, features like Instagram Stories make it a cinch for realtors to offer quick and personalized property updates one day after another.

Here are other ways you can develop relationships with international realtors and investors:

Get a good referral

Sometimes, it is all about who you know or the people you know. You probably already know an agent or two or have friends who understand. Ask for the right people and see if you can find them within your network since they are an excellent place to start.

Do not worry if you do not have any in your network; look for a real estate office in your area and ask a prominent broker who will be aggressive on your behalf and unsatisfied. You will be looking for an agent who can service your requirements, i.e., someone with the right skills and determination.

Show how serious you are

Agents face one problem: they are approached by people who need to work harder to make things happen. Now, just like there are multiple types of realtors, there are tons of different investors. While you may be looking for agents with specific characteristics, you will bet that they are doing the same thing with you.

In such cases, you will have to come across profoundly and show them that you can damage the market severely, but of course, practically! Show them through your attitude that you are serious about building a bona fide business and adding value to the market. You wish to buy multiple houses, and if they find out your intentions and see you putting work into it, that can go a long way to forging that business alliance.

Break the paradigm

Now, here is the thing: most agents are trained that the houses they will help customers buy are just one. That is a paradigm that gets engraved in their minds from day one. Since they are already asked to reach a target to make commissions, the answer is to collaborate with multiple clients simultaneously to maximize commissions.

Your job here is to shift their mindset and realize that with the right.

Seven Keys to Success

Here are the seven keys to success:

• Study the international real estate market
• Get yourself licensed and designated – these are essential things
• Partnerships are important
• Learn and understand the culture
• Learn more than just one or two languages. Real estate is all about communication; if you wish to interact with people from other countries, learn their language.
• Specialize in one area of the business
• And always remember to be professional

Overall

If you want to connect and build strong relationships, it is essential to have an online presence. The best way to interact with people from overseas is through the Internet.

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.

Suppliers are your friends! Based on your position in the company, they might be your critical friend. A supply chain can be highly updated or remain stagnant depending on the relationship without vendors. If your suppliers are rough, do not worry about modern technology trends; little communication can find a way. With improper supplier communication, defaulted parts will ship, and deadlines are missed, resulting in a lack of business and missed targets.

According to Statista, the global worth of supply chain management has doubled over the last decade, indicating the significance of the supply chain in the current global economy. We live in a hyper-interconnected business world, where multitudes of businesses operate in different demographics. Supply chain management ensures a stable network and strong connection for smooth economic coordination. A well-thought-out supply chain management strategy benefits you with boosted customer service, reduced purchasing and production costs, and improved financial status.

Technology upgrading supply chain management dynamics has become a crucial element of business strategy. Where it adds to the customer value, the rapid technologization of the supply chain has raised customer expectations. Business organizations will constitute creative ways and technologized approaches to meet consumers; needs and requirements. With the global pandemic destroying economies and industries on the verge of complete collapse, the uncertainty about the future has intensified. The endemic is impacting the finance sector; it has re-emphasized the importance of digital supply chain management. Apart from current trends and technologies, little preparation for communication can solve suppliers’ issues.

Set Clear Expectations for Reporting and Supplier Communication

Each manufacturer has a place for reporting, supplier performance, and order management. Without reliability, so you will go a little crazy! But if your daily business faces shortage reports format to another or implements a supplier portal monthly, effectiveness and efficiency dive.

Make a clear plan for dealing with suppliers at the beginning of a new relationship. It guarantees an efficient business partnership with shortages, more on-time deliveries, few rushed shipping costs and fewer headaches. That is not to say there is a system for upgrades, but ensure your updates are accurate.

From the start, set a goal for the data you require from your suppliers. When you have that, give a reliable platform in which your supplier could conduct those goals. You must be able to communicate back and update status back and forth at a part level. It is for status updates that are easy to track and edit.

A perfect supplier communication tool can be a practical approach to operationalizing accurate communication. It must:

• Be readily available for everyone
• Features built-in collaboration tools, such as project comments.
• Be straightforward to get unaccustomed users up and running
• Allow for traceable and direct communication 
• Have all the essential data that both parties need to see.
• Let you all roll up outcomes to see business worth among all suppliers.

Be Respectful of a Deadline

When you become prepared in your supplier communication, you efficiently boost your ability to be concise. Why send long paragraphs of emails when a five-sentence message will do? If you have all your ducks properly, you can immediately communicate your queries with unnecessary detail.

Your vendors supply parts to different customers, meaning they have daily emails and calls to deal with. They will love you if you just come to the point! When your supplier understands you are easy to work with, you can bet that your message will discover their path to the top of the pile.

One of the legendary basketball coaches, John Wooden, said,

“Be quick, but don’t be in a hurry.”

He wanted his team to play a fast-paced game but never be out of control. 

The supply chain is also a fast-paced game. If you crawl, you just cost your business money and time. However, if you go too rapidly, you could also experience a negative outcome.

Hurrying might cause you to place inappropriate orders or ignore critical details. Inventory shortages or spikes are less dangerous once you can hurry by avoiding rushing.

Bottom line

There are ways to lessen the gap between the supplier and the organization, but communication is among the most effective. Maintaining a good relationship with the supplier will avoid shortages or late delivery complaints. 

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.

Project Management Meetings: Types and Tips

A project meeting is an excellent way to keep the team informed of what is happening. Project management meetings help stakeholders catch up with internal developments while the internal teams can get exposure to organization-wide changes and implementations. Productive, organized project meetings are the epitome of a project manager that reflects these same qualities. 

A systematic project meeting has a proper agenda for the meeting, discussing the shortcomings and strengths of the process so far. This way, teams can collectively value each other’s time and efforts.

Types of Project Management Meetings

Of course, once the project starts – or even before it does – you will have several things to highlight or bring to the attention of the relevant parties. Knowing the type of meeting to hold can typically help streamline this process. Once you have a project coming your way, the leader’s job is to break down the task and introduce the team to it. Teams can hold several types of meetings according to the project and team needs. 

1. Project kick-off meetings
2. Regular team meetings
3. Stakeholders’ meetings 
4. Contingency meetings
5. Status review meetings
6. Project review meetings

The underlying details to be covered in each meeting are: 

• Status updates are communicated and timely reported to stakeholders 
• Assignments and responsibilities are outlined and adequately defined 
• Task delegation is done precisely for each team 
• Business processes are highlighted and explained to each party involved

Regardless of the meeting, project managers must ensure that they communicate with each party involved. Identifying when to organize the conference and what kind of meeting is required are critical qualities of a project manager.

Project kick-off meeting

A kick-off meeting is an introductory meeting where all department members are introduced to each other, keeping in mind their designations, connection with the project, and core competence. The point of this meeting is also to delegate tasks and help with team building. Each member should know who to go to when struggling with a particular task. Typically, a project kick-off meeting flows as follows: 

• The introduction of team members helps the team members bond and get to know each other.
• Discussing client and project information: introducing the client to the internal teams, examining the nature of the project, the industry, specific requirements, et cetera 
• Project timelines: communicate what the client expects in terms of delivery of the project, updates, budget, and so on 
• Delegation of tasks: Letting the team know how you will complete the charges, who is responsible for what, and who must achieve specific objectives 
• Preparing: This is often known as planning; this process helps align internal teams with client expectations.
• Q&A sessions: Allowing your team to ask questions and address their concerns to get started on the project. 

Regular team meetings

These meetings can be daily, weekly, or monthly, as the teams internally decide upon their convenience. Regular team meetings are the most common type of project management meetings where teams catch up and discuss problems and queries as they occur during the project’s lifecycle. 

Stakeholders’ meetings 

Stakeholder support and approval are essential to keep progressing with a particular project. Meeting up with stakeholders helps maintain interest in the project. Project managers often provide complete project updates to a few of the most significant people in the company and ease communication and the project’s status. 

Contingency meetings 

Even after spending several days planning and preparing every bit of the project and its flow, project managers must prepare for sudden changes in the plan. It is expected to take a new path once the project starts, as long as you plan to keep up with these changes. Project managers should think of alternative plans just in case such contingencies occur.

Status review meetings 

Status review meetings are straightforward. They are held with the schedule to update all teams on the project status. The project manager takes all the teams through the performance levels of the project and the progress of the tasks, analyses information on the project, and highlights where the team’s shortcomings/strengths lie. 

Project review meetings

In a final project review meeting, teams assemble and review their weaknesses and strengths. This review meeting puts things in a realistic perspective compared to where the group began. It will help the project manager and the team lead to analyze the team in real time and find ways to improve the skill and capability levels of the members involved. 

In a nutshell, project management meetings are all about planning, organizing, leading, and mainstreaming the different tasks in a project and the people involved. Being precise when holding meetings will help everyone involved address their concerns adequately while ensuring that each department has the proper jobs to work on. 

Effective planning helps companies save on essential resources such as time, effort, and, most importantly, money because that is the organization’s goal. Project managers are responsible for team collaboration, taking the team smoothly from the beginning to the end of the project, thanks to project management meetings. From introductory sessions to project review meetings, everything is defined, documented, and discussed thoroughly at intervals when needed to ensure all bottlenecks can be addressed as they occur. 

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.

When it comes to money, most need help managing it. To have an adequate budget, a debt-free life, and financial freedom, you must understand expenses and where your money is going. Understanding your costs, non-essential spending, and where you can reduce expenses can lead to the financial freedom every financially responsible person hopes to achieve. 

To get a complete picture of where your money is going each month and an understanding of the expenses, you must create a budget. Generally, a budget is monthly. However, it is suggested that you also have a yearly budget with financial goals in addition to your monthly budget. Here is everything you need to know about creating a realistic budget.

Spending Categories

First, you need to establish spending categories according to the expenses and payments you know you will have. These categories include your mortgage or rent, insurance, gas, electricity, water, phones, Internet, gasoline, maintenance of the car, credits and miscellaneous payments, food, clothing, school supplies, leisure, health, personal care, and everything you know that you must pay, as well as a section that you will add and that you will call unexpected expenses.

Unexpected Expenses

To this section, you will assign a small amount (for example, $50 per month) that you will leave behind for any expenses not included in your spending plan.

Some of these expenses are known in advance, and others are not. During the seconds, you will try to make a forecast as tight as possible, always trying not to be optimistic (do not expect excessive payments to the downside). You will be prudent, and it will be better to calculate higher costs that later turn out to be lower than expected rather than to fall short in your spending forecasts.

Minimum Expenses

You can also establish for other expenses, such as food or clothing, a minimum that does not mean losing your quality of life; that is enough to live well, but you will try not to exceed (for example, you can put a limit on food that does not involve buying little food but avoid unnecessary whims or expensive brand products).

Expenses Vs. Income

Once established, the forecast of expenses increases by 10%, and you will confront it with your income. As often happens, there will be no significant problem if they are known beforehand.

If your income is variable, you will also make a forecast here. But to be prudent, if you do not know your income with the security, you will sin of pessimism and put a restrained amount. One method could be to use the average of the last twelve months unless you have more data that allows us in advance to know the amount that you will charge approximately (for example, someone who charges by commissions will understand if that month is selling much or minor). With experience, it will be easier to make the spending plan and adjust the forecasts more.

More Income Thank Expenses

If the income is higher than the expected expenses, you will have a surplus of money, which, if the forecast is well made and covers all costs, you can allocate to reduce your debts and credits. If you did not take control of payments, it is money that you would certainly spend on other unnecessary things.

More Expenses Than Income

If, on the contrary, the income is less than the expenses, you will have to reduce some expendable costs, such as the telephone, Internet, clothes, etc. You will have to spend less to balance the spending plan. 

If this situation were repeated several months in a row, it would be a good time to rethink your position and move to take deeper measures, such as rent instead of paying a mortgage, changing jobs to get a better income, trying to reduce consumption, etc.

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

It is a constant; uncertainties will always lie ahead. With COVID, the year was full of sadness, financial troubles, and a lack of medical resources; we do not know what the future will hold. But it does tell us one thing: opportunities await us.

Let us look at it this way. We did not know that remote working would be this successful. Furthermore, we did not realize the true extent of eCommerce in business. But we pulled off both those endeavors with excellence. The statistics show the same. Similar is the case for joint ventures. Of course, concerned parties must take innovative and strategic steps to maintain a steady relationship with all of them. But before we finalize joint venture partnerships, let us look at probable unknowns.

What is a Joint Venture?

JV is a strategic partnership with two or more parties who provide capital goods and services through a mutually controlled commercial project. However, there will always be uncertainties, like COVID-19, that can cause JVs to have severe issues. A JV can be a single recipe for disaster, from concurring losses to decision-making deadlocks.

Joint Ventures vs. Partnerships

At a glance, a joint venture seems like a partnership. But, legally, both those entities are quite different. Using the strategic alliance concept, there is no ownership exchange between the involved parties. The ideal difference between a partnership and a joint venture is that the parties involved in a JV have joined hands for a particular project. On the other hand, the partnership members work together to achieve business success. Furthermore, each joint venture member retains ownership of their part of the property. Moreover, each member shares the expenses of a particular project or venture.

New Market Penetration

Want to know the best part of Joint Ventures? A joint venture enables companies to access a new market almost immediately. A joint venture can be quite fruitful even with the relevant regulations and organization. Companies present at one location with those present at the other. Since they want to gain access to the marketplace currently in their counterpart’s place by fostering a joint venture to expand their product portfolio and market size, they will perform exceptionally well in the grandest stage.

Intellectual Property Gains

With technology at the pinnacle of its power, it is difficult for businesses to create operations in-house. To counteract such concerns, companies often join hands with technology-driven organizations, which can provide them with innovation, which is expensive to acquire for themselves. A large-scale organization with suitable financing and working capital can strengthen a joint venture with an organization with promise but lacking the required funding.

What to Consider Before Finalizing a Joint Venture?

• Due diligence: First and foremost, you need due diligence with a potential partner to ensure the business performs well. Before you enter into an agreement with another company for a JV, you must investigate your potential member(s) credentials, such as resource availability, property, and human capital.
• Financials: Let us be honest; what is more critical than financials? If your potential members do not have the financials to perform business-level operations, they are just a liability. Of course, in an ideal scenario, everything would be 50/50. However, that is not always true. Sometimes, joint ventures can become one-sided, and everything could end up in a rut.
• Cultural considerations: Businesses operate differently in different conditions. If any business is entering into a JV with a partner in any other region, they must understand how they work. From cultural differences to each party’s satisfaction within a JV, there are elements to ponder.

To Sum It Up

Nobody can be sure if we look at the uncertainties that lie in each new year. But one thing is certain. Joint ventures can still work. You must be strategically and operationally sound to excel within a JV. Also, do not forget to consider the abovementioned considerations before joining other businesses.

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.