In recent years, I have met several hundred people who have embarked on the adventure of real estate flips. Unfortunately for some of them, it was not a success. Still, it seems so simple and easy on TV! Why do some people manage to profit with tens of thousands of dollars while others “flop” the entire transaction? Is it flips that are good or bad, or are individuals making monumental mistakes?
Here is the list of the seven worst mistakes made during flips.
Mistake# 1: Paying too much
“To pay too much” is, in my opinion, the biggest mistake during a flip that has the greatest impact on the profits. Why are the expected profits at the beginning not always at the end of the transaction? Beginning investors who lack experience in flips are paying too much believing they can resell at a higher price point later. That is not exactly how it works. Do not make the mistake of selling it above what the current market dictates are the selling price. You may try to sell your $350,000 property, but if the current market reflects a selling price of $ 300,000, you will not be able to sell…at least not quickly.
Mistake # 2: Additional renovation
Here is an error that many investors make at the beginning of their project. They are injecting too much money into the renovation.
What does the term “additional renovation” mean?
This means to complete renovations that will not allow you to recover all the money invested. For example, imagine that you are investing $30,000 in renovations, but they only add about $10,000 value to the property. You will come to inject $20,000 in excess, which will reduce your net profits at resale.
Pro tip: visit several buildings in the area to know the “standing” of other buildings. Thus, you will be able to evaluate the quality of materials to use in your renovation and will not spend unnecessarily for granite countertops when a cost-effective product is suitable.
Mistake # 3: Only trust the broker to find deals
Receiving listings from a broker is not about looking for a bargain; it is about waiting for the bargain! Right? Wrong; this method for sourcing listings is a major mistake.
Several hundred people, even thousands, will receive the same listing. When a bargain comes up online, it is better to be quick on the trigger since most investors are only looking for it. Look for listings where most people do not bother to search. Go for it! Be proactive and do not rely solely on brokers. There are many other ways to source properties to review and flip.
Mistake # 4: Forgetting to ask for funding
When planning your flips, consider asking a financial institution to lend you some or all of the money so you can make the necessary renovations. Thus, you will increase your available cash, which will help you address unforeseen events and a resale period that gives you leeway.
Mistake # 5: Too optimistic
Being too optimistic is a very common mistake that tricks people into paying too much for the project property. They are convinced that their property will find takers as soon as it goes on sale, which is rarely the case. They are also too optimistic about the cost of the renovation, and they forget to take into account those unforeseen events that will undoubtedly occur.
To add to their optimism, they think they can sell the property themselves, without a broker’s help and without having to pay commission. It is certainly possible, but you need to anticipate and be comfortable with the worst scenario when analyzing a flip project. In summary, it is quite possible that your project lasts longer than expected, that the work is more expensive, that you have to sell through a broker and paya commission, and that the final selling price is not as high as expected. Be realistic and do not give in to emotions!
Mistake # 6: Insure Property
Improper insurance is an error that could be prohibitively expensive should you have a claim that your insurer refuses to pay because the property was not properly insured. Be it an uncovered sewer backup, an inadequate rebuilding cost, a false statement, etc. These elements could cost you tens of thousands of dollars in profits or, even worse, in additional losses. Be vigilant and insure your project to avoid any unnecessary financial setbacks later.
Mistake # 7: Not having the right tax structure
It is staggering the number of investors who tell me that they did not consult a tax specialist because they find it too expensive to pay $300 an hour. Indeed, hourly rates are not the most affordable. Is it better to pay $500 to a tax professional, save thousands of dollars in taxes, or save $500 in tax advice only to remit thousands of dollars in taxes? To ask the question is to answer it. As they say, the calculation is worth the work.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
When you finally reach the age of fifty or sixty years old, you will most likely be ready to start thinking about retirement. With less energy and declining health as you get older, it is important to be able to put aside money for yourself in the future. Consider what a struggle it would be to reach a point in your career where you can no longer work and have nothing left in savings. What a nightmare.
The main obstacle you may be facing now with trying to set aside income for your future is taxes. You are expected to pay taxes on almost every expense, and a percentage is taken out of your paycheck automatically, and typically, most people will pay taxes annually as well. There is, in fact, a way to lower the amount you pay and tools you can use for reducing the amount that comes out of your income if you set aside an amount and do not touch it until retirement.
Did you know that people who successfully set aside a retirement fund can even enjoy life well into their later years? Listed below are tips to fund your retirement so that you can be one of these people seen living the dream.
Budget
You can start cutting your expenses today. Make sure you are setting aside money and only making big purchases when you need them and can afford them. A good budget and strategy chart out income, expenses, and goals so that you are organized for the best future possible.
Municipal Bonds and Funds
Income distribution and the many you can receive from municipal funds and bonds do vary from state to state. However, all municipal funds are alike in that they are not subjected to federal income taxes. For this particular reason, the interest rate is much lower. This means that you can set aside tax-free dollars if you put them into a municipal bond.
When it comes to the secondary market, there are many financial gains and opportunities involved in buying and selling municipal bonds. There is no cap to the amount of income you can invest in these bonds, so for those who can afford it, it may be a smart way to ensure financial stability when planning for retirement.
Roth IRA and Traditional IRA
One of the most popular retirement investment opportunities in the tax-free savings accounts that you can contribute to with tax-free dollars while earning a living. It is never too early to start putting money in an IRA account and allow your money to grow and be untouched by taxes until your retirement.
Health Savings Account
Opening a health savings account is a decent way to establish financial security and an important part of saving for your future. Most companies have policies in place for you to use tax-free dollars towards your health expenses. You can set aside a specific percentage of your income, and it is sometimes even matched by your employer. It allows for the unforeseen and escalated medical costs that may come up now or in the future.
“Turbo Roth” or Indexed Universal Life Insurance
Another of the greatest tax-free retirement strategies you can make the most of is Turbo Roth or Indexed Universal life insurance. The name takes its root from the accounts feature; it shares the profits of 401k. It is a great idea to choose Roth insurance because it provides a death benefit plan to protect your family, and you get to build money value throughout your life.
Plan ahead now so that you can live your dream or take on another business venture when you become eligible for retirement. Whether your dream is to write a book or sharpen your skills, start thinking now about the best ways to save.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
The money supply chain is an essential component of a company that reveals the company’s financial status. The flow of money tells whether there is a need for money injection in the market or there is a need to stop the money in circulation. Talking about the relation between stock prices and money supply then they both carry a positive relation. The higher the money supply is in the market, the stock prices tend to move higher. With a lot of money being circulated in the market, the money becomes easy to access. There is extra money available to spend on stocks and further make other investments like bonds that are commonly less attractive.
Money circulation plays an important role when it comes to the interest rate. As the interest rate decreases in any economy, the process of lending and borrowing increases. This snatches investors’ interest towards burrowing money more. In contrast, the case is opposite when interest rate rises as borrowers decrease their borrowing, so the investors are attracted towards investing in stocks. Such actions stunt the growth of individuals with an increase in the growth of the stock market.
How Money Supply affects an economy?
The sum of money present in any economy is referred to as the money supply. This money circulation isn’t something small. Instead, it is a lot more than the coins and bills present in the economy. It is a fact that the physical money circulating in a developed economy is less than one-tenth of the money present in the whole economy.
The remaining percentage of the money in circulation is all digital or virtual. This money supply includes the unused line of credit in any credit card account or the amount existing in larger industries’ commercial bank accounts. Money can be used as coins and bills to purchase goods and services.
Economists keep a close eye on the money circulated in any economy as it tells about an economy’s purchasing power. The purchasing power is the quality or value of goods and services that can be bought with a currency’s unit. This tells about the possible demand for products and services.
How Fed control Interest Rates?
The Federal Reserve Board is often called the Fed of any economy and has a job to maintain the money supply by taking different measures. The most common way to control the money circulation is through buying and selling treasury bills.
How do treasury bills work? Treasury bills work differently: once a treasury bill is bought, a business is lending money to the government. The term security is to invest in any medium like bonds, bills, or stocks. When it comes to an economy, there is a particular face value of treasury bills, which tells their actual worth. However, they are sold below their real worth.
The selling and buying results in the injection or withdrawal of money into the economy. The quickest way to control the money supply is by adjusting the interest rates. With a lot of money being circulated in the economy, borrowing becomes much cheaper. However, when the money supply is low, many institutes and individuals will be short on cash to lend out. In this case, borrowers must provide higher interest rates to borrow. The interest rates are usually mentioned as the cost of money in the market.
What relation do Interest Rates and Stocks have?
A rise in the money supply and a drop in interest rates makes stocks a lot more attractive to invest in. When investors can get low levels of return by lending money, even if it is a bank, corporation, or buying treasury bills, such investors change their direction and lean towards the stock. Such actions of an individual or investor are called chasing yield.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
In recent years, the accounting sector has been shaken by many changes: dematerialization, increased competition, and companies’ new expectations. The profession of a commissioned accountant has thus had to reinvent itself to sustain its performance. Here is what is expected from a commissioned accountant.
The Role of Financial Advisor
The commissioned accountant’s role has always been to support business leaders in their company’s financial operations and daily management. Here are some of the duties that are expected of the commissioned accountant when working with a client.
Advises entrepreneurs on legal status
Guide managers on social status
Support managers in optimizing their taxes
Help in managing the company’s finances
Ensure accounting management
Performs contractual audits
This list is far from exhaustive and will be extended according to the needs of the specific business. In addition to these primary duties, accountants are increasingly confronted with the digital economyand information exchange scope. Guarantors of corporate financial information must now educate their customers on the security of financial data and the storage and preservation of accounting documents.
Creation and Implementation of Accounting Systems
To adapt to current technological advances, the commissioned accountant must expand their services and offload all the tedious and time-consuming tasks to bring real added value to their customers.
Offer advice promptly
Be proactive in meeting the needs of leaders
Identify the most suitable accounting and administrative organization for the company
Set up management tools to facilitate exchanges with its customers
Respect the formalities linked to the new accounting obligations
Offer customers the possibility of having reliable tools that comply with the law
The commissioned accountant must keep regularly informed of news related to the accounting industry to protect their clients’ interests. They should also keep themselves upon additional support they can provide clients in addition to accounting. Beyond providing current advice, accountants must now deliver cutting-edge expertise in line with everyday reality. All the more so in this period of crisis and a rapidly changing world, they must position themselves alongside entrepreneurs as partners on whom they can count.
What are the formalities for setting up your accounting firm?
To open your practice, you must first find a room, the best possible location like a city center. You must ensure proper management of your budget to be able to support the office rental and expenses. Joining up makes it easier to manage the firm’s costs incurred at the start of the activity. You can continue your project alone when you have won your customers’ loyalty and acquired the necessary funds.
If you go into business by yourself, you will have more work, but you will have the advantage of being your boss. If you are in a partnership, the work will be shared, but it will be necessary to generate many clients to compensate all the partners.
Whatever your situation, the company’s legal form most suited to the practice of commissioned accountant activity is the limited liability company. This is justified by a more advantageous tax system for this type of business. You can choose to be a generalist or a specialist. The second option will be more suitable if you operate in a big city. On the other hand, in less populated regions, it is better to opt for general practice.
If you have the necessary funds, you can take over a former colleague’s clientele, which will allow you to start your business quickly with immediate financial compensation. On the other hand, if you start your business from scratch, you will have to obtain your first clients. You have several options for finding potential clients.
You can contact large firms and offer work for them as a subcontractor. You can also use platform services connecting experts and business leaders, which quickly generates contacts through networking. You should also think about having your website well referenced with a blog section to promote your expertise.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
All over the world, two types of tasks are being performed by banks. Although the functionalities and operations of investment banks and commercial banks are different, their contribution to the country’s economic growth cannot be ignored. Contemporary, financial, and economic development has led to an increase in competitiveness amongst the business sector. The investment banking sector faces numerous challenges while providing their financial services. On a micro and macro level, the competition among investment banks has been heightened, and the investment banking sector will face significant challenges.
Investment banking comprises money and securities trading, where they assist their potential investors in investing their money properly, at the right time, and in the right manner. These banks play a pivotal role in supporting companies, corporate organizations, and individuals in the US to raise capital for making investments in products or services they wish to bring to the market.
Investment banks are known for helping their investors to manage their finances. Investment banking staff supports investors to invest their money in a selected market distinct from commercial banks indirectly. They also guarantee an optimal return on their securities. However, the main activity of an investment bank is to provide viable advice to their customers. At the same time, the customers are also known as investors for investing their money properly through trading on bonds.
Another activity being performed by investment banking includes the sale of companies’ bonds and shares with the specific purpose of raising funds and capital for corporations, companies, governments, and individual persons. This duty is being performed by investment banking to support the corporations to raise enough capital that enables them to execute their projects and help businesses to acquire new properties. On the other hand, they also support corporate entities to buy shares that are believed to have good value for the business. In this regard, banks usually have a standby buyer to whom they would make a higher bargain. Investment banks usually act as a stockbroker when it comes to the selling and buying of shares. It is recognized that these securities, when traded between entities, could help the companies to raise more capital for their businesses.
Investment banking is referred to as a set of “all functions of a bank” that helps to enhance trading at financial markets. It is commonly mentioned in the academic literature that all such services are being comprised by investment banking.
The banking sector is becoming more accessible, expedient, and broader in terms of the scope of services. However, investment banking plays a significant role in the development of the banking sector. In contemporary mixed economies, both large organizations and governments rely largely on investment banking to raise their funds. Therefore, it can be stated that the main purpose of investment banking is to raise capital funding for the companies and to enhance the overall economic activity level.
Investment banking plays an important role in the economy, as well as the society of a country. The banking sector of the US is fragmented and offers significant financial and economic services. The investment banking sector has become an important financial center.
It is reported that the US investment banks are helping boost the economy of commercial and private sectors of society. At the same time, they establish more opportunities for individuals who are employed or unemployed. In addition to this, the banks also enable the organizations to raise their capital and to increase their profits. In the US society, investment banking helps to enhance financial security from possible economic dropdowns. Therefore, it can be stated that every country that wants to enhance its economic level, and every economy that wants to increase its financial status, must require the services of an efficient investment banking sector.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Risk is in almost everything we do in life that is worthwhile. We take risks in relationships, investments, work, and even in our environment. This facing of risk means that when we start a business, we will take risks that must be taken for the business to succeed. While these risks could also doom the business to failure, they are risks you have to take if you want to have the chance for your business to succeed. Here are four business risks that every owner must take when starting and running a business.
Financial Risk
While every business could be considered a financial risk for its shareholders, it is the highest risk at startup and initial investment. It has no financial track record to show returns. Financial risks can range from the products or services the company offers, risking a disconnect or failure with customers to unforeseen disasters that can devastate a business in the beginning stages of operations. The financial risks a small or startup business faces are many, but the rewards can be significant even beyond profits if the risks are managed.
Reputation Risk
When owning a small business, you automatically take on risk to your reputation. These risks extend once you start the business to its reputation separated from you as the owner. Understanding that you and your business reputation can affect the success or failure of the company is essential. The management of the risks on your reputation is made more difficult in our digital world, where feedback, both positive and negative, can be given within minutes of experience. Social media has made information and the sharing of it instant and, in some cases, viral. As a small business owner, this is another risk with high satisfaction reward if you take it on and understand that you can minimize this risk by awareness and being proactive.
Security risk
Anyone that is on the internet is taking a security risk. This risk is particularly daunting for small or startup business owners. A single cyber-attack could potentially destroy a company in a fell swoop. Understanding security risks for both the brick and mortar business and online business gives you an advantage when it comes to protecting against them. If you are unsure how to protect against cyber-attacks through software and protocols, it would be prudent to hire someone to safeguard your professional system. Some professionals deal with security at the brick and mortar business front as well. While security risks are common, they can also be minimized by taking proactive measures.
Investment Risk
Risks in investments made by the business are the same as individual risks made in investments. If the business makes investments in stocks or other businesses, it is the business that takes the hit if there is a failure or downturn. Before making investments in the business name, you as the business owner must understand the risks versus the rewards and make investment decisions based on the business’s tolerance to take a hit. Most of the business risks should be in the business itself rather than outside investments until it is profitable and productive.
Conclusion
A small business owner needs to be prepared to deal with all types of business risks and trials. While these risks may seem overwhelming or even too risky, if you are informed of the risks and understand them and how to manage them, they should not hinder you from having your dream of owning and operating your own business. Every business owner has to face risks in life and finances. Managing risks and using your understanding will guide you in making sound financial decisions that will help you succeed in business and life.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Only a few real estate investments can generate returns of 4% or more. Here are three possible investment solutions, but make note that they should be carried out as diversification.
Rental investment comes in different forms. Everything will depend on the down payment, the type of property chosen (new or old), and the tax system. Here are three examples of investments that can generate higher rental income than traditional renting.
Parking lots
A parking lot is a real estate investment that would offer and ticket the most accessible entrance depending on the city and the neighborhood.
For these small transaction amounts, notary fees are high. Also, to amortize them, the possession of this property must be long-timer. Also, “to make a winning investment, it is better to buy several lots in the same place. Having a single address facilitates rental management, simpler than that of a home. In a parking lot, there is no maintenance or repair work to be done, ” says Benjamin Spivac, heritage engineer at the Amplegest management company. Another tip: to boost profitability, it is better to target a box. “The rent can be 10 to 20% higher than that of a simple underground location,” says Mathieu Mars, director of the Heritage Institute.
However, the profitability can remain an unknown in the long-term: what about the car’s place in the city? If the disappearance of parking places on public roads is a reality, private vehicles’ presence could be threatened in the not-too-distant future. Some city dwellers already prefer not to own a vehicle (and therefore do not need a garage). If necessary, they do not hesitate to rent or share a vehicle. If this phenomenon persists and increases, the garage may be less popular. Its value could then fall, like its rent. On the other hand, higher street parking rates, such as fines, could drive up prices.
Furnished rental
The furnished rental allows rental income from 10 to 20% more than the same property unfurnished. This is not unfavorable for those who want to pursue a profit quickly.
Still, to offer a furnished apartment likely to appeal to tenants (often single people or couples), we must consider all aspects of a furnished property. First, small and medium-sized areas are the most popular, especially in central and/or residential areas. Then, the equipment of the house must be complete and irreproachable.
Admittedly the law of July 31, 2015, has established a list of minimum furniture items that must be provided. Still, it is better to go above and beyond and offer occupants the maximum comfort and services possible. These assets will help your property stand out from the growing competition in this rental niche.
To boost profitability, some owners of supermarkets downtown or close to facilities can advertise their location and proximity to different rental properties. The sum of rents paid by roommates will always be 10 to 15% higher than the rent paid for the same area by a single tenant. This type of tenancy in the former allows a taxpayer to adopt the tax status of a “non-professional furnished renter” (LMNP) to generate non-taxed income for several years and compensate for depreciation.
The residence services
Investing in an apartment located in a residence helps to generate regular income. All residence owners sign a minimum lease of nine years with a professional responsible for rental management.
Salespeople who praise these operations’ charms insist that rents are paid on a fixed date, even if the rental housing complex is not fully occupied. Depending on the type of residence, the numbers are tempting: 3.8% for a senior residence apartment and nearly 4% for a room in a student residence. Again, budgets differ according to the property purchased.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Effective Time Management Strategies to Boost Business Productivity
Time management strategies like time blocking, prioritization frameworks, and focused daily planning transform overwhelmed entrepreneurs into productive leaders by maximizing every hour for measurable business results. These proven approaches help you overcome distractions, eliminate time-wasting habits, and consistently achieve more with less stress while building sustainable growth momentum.
I’ve spent two decades as CEO of Complete Controller working alongside business owners across every industry imaginable—from tech startups to established manufacturing firms—and one truth remains constant: the difference between thriving businesses and struggling ones often comes down to how leaders manage their most precious resource—time. After implementing systematic time tracking in my own company, we discovered that inefficient workflows were costing us 30% of our productive hours weekly, leading to a complete overhaul that doubled our quarterly output while reducing team burnout by half.
What are effective time management strategies to boost business productivity?
The most effective strategies include time blocking, task prioritization using frameworks like Eisenhower Matrix, delegation, SMART goal-setting, and leveraging digital productivity tools
Time blocking involves scheduling dedicated focus periods for specific tasks, eliminating interruptions and context switching
Prioritization frameworks help identify high-impact activities versus time-wasters, focusing energy on revenue-generating work
Delegation and automation free leaders from repetitive tasks, creating space for strategic thinking and growth initiatives
Digital tools provide real-time visibility into time usage patterns, revealing hidden productivity leaks and optimization opportunities
Proven Time Management Strategies for Busy Business Owners
Building a profitable business requires mastering the art of strategic time allocation. The following methods have been tested across thousands of companies and consistently deliver measurable improvements in both output and profitability.
Time blocking and timeboxing methods
Calendar blocking represents the foundation of productive workdays, transforming chaotic schedules into structured success systems. By dedicating specific time slots to particular tasks or project types, you create protected zones for deep work that generate real business value.
The timeboxing approach takes this concept further by assigning fixed durations to specific activities, preventing perfectionism from derailing progress. For instance, allocating 90 minutes to strategic planning forces completion rather than endless refinement, while 30-minute blocks for email processing prevent inbox overwhelm from consuming entire mornings.
Block similar tasks together (batch processing emails, calls, administrative work)
Schedule your highest-energy hours for complex strategic work
Build buffer zones between meetings to process information and reset focus
Review weekly blocks to identify patterns and refine your system
Harvard Business Review research confirms that executives using time blocking report 30% productivity increases, while University of Southern California studies show even more dramatic 50% improvements in task completion rates.
Prioritizing tasks that move your business forward
The Eisenhower Matrix provides a battle-tested framework for distinguishing urgent fires from important growth initiatives. Research from Acuity Training reveals that 50% of professionals using this method feel in complete control of their workload daily, compared to just 28% of those who reactively handle tasks as they arise.
“Eat the Frog” methodology amplifies this effect by tackling your most challenging or impactful task first thing each morning. This approach builds psychological momentum that carries through the entire day, turning procrastination patterns into achievement habits.
The Pickle Jar Theory offers a visual planning method that categorizes work into three distinct levels:
Rocks: High-value strategic initiatives that directly impact revenue or growth
Pebbles: Supporting tasks that can be scheduled around your rocks or delegated
Sand: Low-priority activities and distractions that fill remaining gaps
By filling your schedule with rocks first, then pebbles, and finally sand, you guarantee that critical work receives prime attention while less important tasks naturally find appropriate time slots or get eliminated entirely.
Time management tools & techniques to streamline success
Modern productivity tools transform good intentions into systematic execution. Project management platforms like Asana, Monday.com, and ClickUp centralize task tracking while providing team-wide visibility into priorities and progress.
Kanban boards revolutionize workflow visualization by creating clear columns for task stages—backlog, to-do, in-progress, and complete. This visual system instantly reveals bottlenecks and ensures nothing falls through organizational cracks.
Time tracking software delivers perhaps the most powerful insights of all. Studies show that implementing employee time tracking reduces productivity leaks by up to 80% while boosting revenue by 61%. These tools reveal exactly where hours disappear, from excessive meeting time to social media distractions, enabling targeted improvements.
Use automation tools like Zapier to eliminate repetitive tasks
Implement shared calendars for seamless team coordination
Deploy focus apps like Freedom or Cold Turkey to block distracting websites
Leverage AI assistants for scheduling and routine communications
Overcoming procrastination and building habits
Procrastination costs businesses dearly, with research showing that 80% of salaried workers lose between one and four hours daily to avoidance behaviors. Each procrastinating employee potentially drains $15,000 annually from company profits through delayed projects and missed opportunities.
The Getting Things Done (GTD) method provides a systematic approach to conquering procrastination through five key steps: capture all tasks in a trusted system, clarify actionable next steps, organize by context and priority, reflect through regular reviews, and engage with confidence knowing nothing is forgotten.
Daily debriefs accelerate habit formation by creating reflection rituals that reinforce positive behaviors. Spending just ten minutes reviewing what worked, what didn’t, and tomorrow’s priorities compounds into dramatic behavioral shifts over time.
Breaking entrenched bad habits requires honest measurement. Digital time tracking reveals uncomfortable truths about social media consumption, email addiction, and meeting bloat—awareness that enables conscious choice rather than unconscious drift.
Setting SMART goals for measurable productivity
The Rapid Planning Method (RPM) elevates traditional goal-setting by connecting daily actions to meaningful life outcomes. Rather than creating endless task lists, RPM focuses on results, purposes, and massive action plans that align with your core business vision.
SMART goals—Specific, Measurable, Achievable, Relevant, and Time-bound—transform vague aspirations into concrete achievements. “Increase sales” becomes “Generate $50,000 in new recurring revenue by March 31st through targeted email campaigns to existing customers.”
Review goals weekly to maintain momentum and adjust tactics
Track leading indicators (activities) alongside lagging indicators (results)
Celebrate milestone achievements to reinforce progress
Connect individual goals to team and company objectives
Regular progress reviews create accountability loops that prevent goals from becoming forgotten wishes. Monthly assessments reveal whether current strategies deliver expected results or require course corrections.
Balancing work and life for sustainable business growth
Research from the American Psychological Association demonstrates that multitasking causes a staggering 40% loss in productivity while potentially lowering IQ by up to 15 points during task-switching episodes. Even more concerning, regaining full focus after an interruption requires an average of 25 minutes—making constant context switching a profit killer.
Building unscheduled time into your calendar provides essential breathing room for unexpected challenges without derailing planned work. This buffer time prevents the domino effect of one delayed meeting cascading into evening work sessions that erode personal boundaries.
Remote and hybrid work arrangements demand even clearer boundaries between professional and personal time. Successful leaders establish firm start and stop times, dedicated workspace boundaries, and technology rules that protect family time from work intrusion.
Create transition rituals between work and personal time
Establish “office hours” for team accessibility
Use separate devices or profiles for work and personal activities
Communicate boundaries clearly to both team members and family
How I Implemented These Strategies: Lessons from the Trenches
My journey toward time management mastery began with a harsh reality check. Time tracking software revealed that my leadership team spent 30% of our collective hours on repetitive administrative tasks that added minimal strategic value. This discovery sparked a complete operational overhaul.
We transitioned to Kanban boards for project management, immediately improving task visibility and accountability. Delegating routine work to specialized team members freed up eight hours weekly for client-focused growth initiatives. The real breakthrough came from linking key performance indicators to SMART goals, creating alignment that doubled our quarterly productivity metrics.
One particularly powerful change involved restructuring our meeting culture. We eliminated standing meetings without clear agendas, implemented 25-minute default durations instead of hour-long blocks, and required written updates for information sharing. These simple shifts reduced meeting time by 40% while actually improving communication quality.
Case study: Boosting focus and output at lifehack method
Demir and Carey Bentley transformed personal burnout into a productivity revolution now used by over 50,000 professionals at companies including Google, Uber, and PepsiCo. Their research uncovered shocking statistics: 82% of people lack any systematic time management approach, while the average worker wastes 51% of their day on low-value activities.
By implementing daily time tracking and strict priority rules, their clients achieved up to 80% reductions in interruptions and productivity leaks. The Bentleys’ methodology proves that systematic approaches to time management deliver exponential returns compared to willpower-based efforts.
The Human Side of Time Management: Why Your Team’s Buy-In Matters
Effective time management extends far beyond individual productivity metrics. Employees with structured time management systems report 91% lower stress levels and 73% improvement in work-life balance satisfaction. Yet research reveals a troubling gap—while 69% of workers consider work-life balance “very important,” only 44% actually achieve it.
This disconnect costs businesses through turnover, with 48% of employees willing to leave jobs that prevent life enjoyment and 57% experiencing moderate to severe burnout. Time management training addresses these challenges directly by enhancing personal control, reducing overwhelm, and restoring autonomy over daily schedules.
Team adoption requires more than mandating new tools. Successful implementations involve collaborative planning sessions, regular feedback loops, and celebrating early wins. Share success stories from team members who reclaim family time or complete passion projects thanks to improved productivity. Make time management benefits tangible and personal rather than abstract efficiency metrics.
Corporate training programs demonstrate remarkable returns, delivering 17% average productivity increases while 87% of participants acquire immediately applicable skills. The key lies in customization—adapting frameworks to match team culture and work styles rather than forcing rigid compliance.
Final Thoughts: Your Time Management Transformation Starts Today
Mastering time management strategies represents the difference between constantly fighting fires and building lasting business value. These proven systems—from time blocking to SMART goals—provide the structure needed to reclaim control over your schedule while achieving more meaningful results.
Success requires choosing one strategy that resonates with your current challenges and committing to consistent implementation for at least 30 days. Track your results, refine your approach, and gradually layer additional techniques as each becomes habitual. Small improvements compound into transformational outcomes when applied consistently over time.
Your business deserves leadership focused on strategic growth rather than administrative overwhelm. Take the first step today by identifying your biggest time drain and selecting the appropriate strategy to address it. For comprehensive support in optimizing your business operations and financial workflows, contact the experts at Complete Controller to discover how systematic approaches to time and resource management can accelerate your company’s growth trajectory.
Frequently Asked Questions About Time Management Strategies
What time management strategy should I implement first as a business owner?
Start with time tracking for one week to identify where your hours actually go, then implement time blocking for your three most important daily activities. This combination reveals problems while immediately providing a solution framework.
How can I get my team to adopt new time management practices?
Lead by example, share your own results, and involve the team in selecting which strategies to test first. Make adoption voluntary initially, celebrate early wins publicly, and provide training resources to support successful implementation.
Which digital tools provide the best ROI for time management?
Project management platforms (Asana, Monday.com), time tracking software (Toggl, RescueTime), and calendar blocking tools (Reclaim.ai, Calendly) consistently deliver the highest returns through improved visibility and reduced administrative overhead.
How long before I see results from new time management strategies?
Initial improvements often appear within 7-10 days, with significant gains typically manifesting after 30 days of consistent application. Full transformation into unconscious habits generally requires 60-90 days of deliberate practice.
Can time management strategies work for creative or unpredictable businesses?
Absolutely—creative work benefits from protected focus time even more than routine tasks. Use flexible time blocking, maintain buffer zones for inspiration, and adapt frameworks to support rather than constrain your creative process.
LPS ONLINE, University of Pennsylvania. “Mastering your schedule: effective time management strategies for success.” Retrieved October 22, 2025. lpsonline.sas.upenn.edu
SLACK BLOG. “8 time management tips for productivity.” Retrieved October 22, 2025. slack.com
TEAMOUT. “27 Employee Productivity Statistics You Must Know in 2025.” Retrieved October 22, 2025. teamout.com
UGA EXTENSION. “Time Management: 10 Strategies for Better Time Management.” Retrieved October 22, 2025. fieldreport.caes.uga.edu
YOMLY. “Employee Productivity Statistics You Need to Know in 2025.” Retrieved October 22, 2025. yomly.com
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
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.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
To achieve complete sustainability development in the real estate industry, there is a need to distribute the natural capital that provides equitable solutions. Natural resources that are used in real estate can be categorized as either renewable or non-renewable. Renewable resources include woods, and non-renewable resources can include soil quality. As renewable resources can be generated easily, the focus should be given towards non-renewable resources for their sustainability. Ecosystem-related services like forestation and smart and efficient resource allocation will contribute positively to sustainability development.
Three elements are to be focused on for the sustainability concept to be promoted. The basic elements of economic elements, environmental elements, and social elements form the “Triple Bottom Line (TBL)” concept. Concerning the development in urban areas, the concept of sustainable development is highlighted by focusing on these three TBL elements. There are standard frameworks suggested by many authors, which are relevant to sustainable development. All frameworks reflect strategies that can be monitored and followed as a part of sustainable development. Every strategy is viewed from different perspectives, including the economy’s overall growth, social justice, economic prospect, income impartiality, and protection of the environment.
Though there are some strategies, there is still a need for an experimental study regarding the context of these strategies to be implemented in developed countries’ industries. The requirement of achieving the sustainable development goals must be identified by the real estate business based on the content of current policies and the necessary conditions to make use of resources more efficiently. Developed countries have made sustainability a part of their development policies and are promoting strategies that encourage growth and development of the economy while simultaneously assuring the communities’ current and future needs are met.
The Triple Bottom Line elements are linked strongly as they meet all the challenges regarding sustainable development. There is a need to understand in detail the inter-linked relation of all three elements. Theorists proposed a partial integration since challenges exist regarding boundary lines of shear zones of the three TBL elements. At the cut-off points of the three elements, there is a problem relevant to achieving social and environmental justice. The reason behind the environmental burden is an uneven distribution of the population.
Real estate investments utilize additional energy more than any other industry of the economy. Thus, the real estate business is a contributor to CO2 emission. Measuring radiations is complicated, but according to reports, estimation shows that real estate businesses contribute to the emission of CO2. Real estate uses up around 40% of global energy per year. Globally, 20% of greenhouse gases (GHG) emitted are from buildings and factories. The expected rise in CO2 emission by 2030 is 56%. By 2030, the expected rise in the global GHG emission is 7%. The raw materials used by buildings and construction are around 40%, making 3 billion tons per year. Construction also significantly impacts environmental factors; for instance, there is an expected utilization of 12% fresh water and 30% generation of total waste by 2030.
Eco-Efficiency is the term used by the business industry to define a typical approach of businesses towards sustainable development. All other approaches include the efficient use of energy, water, and resources to sustain and save. Socio-Efficiency can either positively or negatively impact an area because of accidents in the work-related environment or by the violation of workers’ rights. Reduction in Ecological degradation is necessary when the focus is on efficiently using resources for sustainable development. It is all termed as eco-efficient or eco-efficiency. For example, in transportation, there should be the use of fuel-efficient cars. The more a fuel-efficient car is used, the more demand for more cars on the road saves environmental pollution and fuel resources. Thus, Eco-Effectiveness is vital because it is focused on the absolute levels such as a reduction in total carbon dioxide emission. Sufficiency is a term that is defined as a situation when individuals make a choice not to promote unnecessary degradation in the environment. For instance, one can buy a luxury car, but the individual prefers to buy a car with low fuel consumption to promote sustainable development.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Being single is soulful. You have no commitments, and you can do whatever you want without being accountable to anyone. In this time of freedom, the best thing you can do is to learn from personal finances to plan the future you want.
For this, we give you some incredible tips that you can start using today. But first, let us see what we are facing. Just as there are advantages to being single, there are also some disadvantages.
Singles manage their money as they want. They decide on what and how much they want to spend; if they are not careful, they can acquire debts. They have the opportunity to devote more time to their training and professional development. They value their work and feel a great passion for him.
Ten Financial Tips for Singles
Singles are at the best time to create financial stability; this will require a bit of effort, which you will appreciate over time. Though going on trips every other month might feel like an ideal idea, there are ways you can achieve your dreams. Yet, to get your dreams to come to life, working hard is essential, and it will require efforts from your side.
Save for Your Retirement
It is the number one point since a good portion of people leave this for last, thinking that there is still time left. The reality is that time goes by quickly, and it is better to be prepared. Also, the more years you spend, the more money you have to put into your income. So, open a savings account and deposit a fixed amount monthly. Do not touch that money. You can have other accounts to meet different goals.
Start Your Credit History
The credit history is your financial profile in which your financial and business behaviors are reflected. Paradoxically, to get a loan to buy a car or a house, you must have good credit.
Therefore, you must first obtain a job or generate regular income. Secondly, you must pay on time for services such as telephone, internet, television and taxes (this will demonstrate your ability to pay) and third we recommend you have credit cards. Many lenders see a good credit history as financial stability.
Buy a House
While you can get a mortgage loan, it can be low and with a high-interest rate due to your credit history; the best option will always be to save and invest in a small house or apartment. That way, if you start renting in the future, you will have extra income.
Hire a Major Medical Expenses Insurance
With medical insurance, you will avoid falling into bankruptcy in the event of an accident or illness. It will also be easier for you to save for this if you still do not have children and you are young.
Create an Emergency Fund
A study by the magazine “Money” estimates that 78% of people will have an adverse event in 10 years. You can be prepared for the bad times by creating a fund for emergencies, which is simply savings that are ready to be used in case things go wrong. You should have 3 to 6 months of the basics you need to survive in that time, and so you do not have to ask for a loan or acquire debt.
Summing Up
Finance issues can drain all our dreams. Although we spend our lives saving for the wishes we want to fulfill, we hardly get to fulfill them. While these unfulfilled dreams drain us, it is always a great idea to turn them into a reality. And, if it so happens that you’re single today, now is the time to work on your finances to enjoy later in your life.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
