If you need to earn extra income and have a guest room or guest space on your property, and it is not being used regularly, you should consider renting the space for a great passive income. This type of space rental has become a popular alternative that vacationers or those traveling for business are taking instead of getting a hotel room. Renting a room with access to a shared kitchen, living spaces, and sometimes a yard or pool can be a more relaxing way to spend time away from home for travelers.

Here are five things you need to know to get renters and protect yourself and your property before you rent your space.

Unused Spaces

Unused spaces that could be used for this type of room rental could be a guest room or a suite of rooms if you have more space. This space could also be a converted attic, basement, or garage as long as it is a comfortable living space. It could also be a guest cottage or over the garage apartment. These spaces are furnished and not the same as taking on a full roommate who would pay their share of expenses and be a part of the mortgage or lease. This space in your home should be similar to a bed and breakfast though breakfast is not mandatory.

 

Spread the Word

You can use your social media platforms and the word of mouth of friends and family to help get the word out about your rental space. There are also several websites specifically dedicated to this type of space rental. You can include information about the property, what is and is not allowed, and the price per night. You can also include pictures of the space to entice potential customers further to rent your space. Though you could do it directly through ad sites like Craigslist or word of mouth, it is recommended you use these rental websites as they are designed to protect both users.

Safety Measurements

Safety and financial protection need to be the focus of this type of rental. If you do not use a website with built-in protections, you should consider the following to be on the contract.

 

• The amount and when it is needed to be paid
• The advance payment (if there is any)
• The move in and move out dates
• What is included with the rental fee
• Pet agreements if pets are allowed
• Any additional house rules the landlord wants to be noted

 

Setting the Price

When setting the price, you must look in the market in your area and set your prices comparable to what is being charged for similar rentals. If you don’t have comps in your area, you can look in other areas to get an idea. Also, you need to factor in what you need to make for it to be profitable. Even if it is slightly higher than the market, you need to profit; otherwise, why have the rental?

 

Rental and Homeowners Insurance

Rental insurance is compulsory if any damage occurs, such as rain, flood, fire, etc. You must contact your homeowner’s insurance company and ensure that your insurance will cover it if something happens to the patron while they are on your property. If not, you need to find out what you need to add to cover you and your property against liability. Renters insurance may also be a possibility; however, you need to factor the insurance cost into the price you set for the room per night.

 

Conclusion

Renting out space in your home for extra income can be profitable, but it will take some work, safety measures, and financial protections on your part as the landlord. You should only consider this endeavor if you can profit and if you really like people because you will be interacting with strangers in your home.

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.

By not emitting toxic waste and being ecologically aware, positive energies have an important role in pursuing sustainable energy development. But to what extent can small businesses benefit from these advancements in positive energies?

There are many things to consider when deciding whether to invest your company’s money in renewable sources of positive energy. However, most companies find that the expense upfront to implement positive energies is well worth the savings for years to come. Here is what you need to know about positive energies.

Positive energies use renewable sources

By definition, positive energies are considered those that do not release gases or polluting residues that contribute to the greenhouse effect or global warming during the production or consumption process. Among the main forms of energy classified in this industry are the following:

• Wind energy: generated by the force of the wind.
• Solar energy: generated by the incidence of solar rays
• Tidal energy: generated by the movement of tides in the oceans
• Hydroelectric energy: generated by the hydraulic potential of a river
• Biofuels: highlighted by ethanol produced from sugarcane and corn; and biogas, generated by the decomposition of organic matter.

The Challenges for Small Businesses

When it comes to small businesses, the main challenge is to reduce carbon emissions and still have competitive prices. That is why it is necessary to evaluate each company’s energy potentials calculating the expected time for the investment return.

The advice is to transition without advancing more than the company accountant feels doable. In this case, the investments and changes should be gradual, modular, and scalable investments. Change one energy source at a time, in small steps. For companies that generate organic effluents, it is worth betting on a small scale on energy recovery as a reactor and small size boilers.

The electricity usage within an office often consumes many of the company’s budget, and renewable energy can help reduce these expenses. How is it possible? According to recent research, companies buy renewable energy of around 13.4 gigawatts from long-term contracts’ earned income. This purchasing amount becomes double as they bought that energy a year before.

The majority of businesses take care of the private resources on their property that generates renewable energy. Now, the question is, what is the reason that businesses prefer renewable energy? With it, they can gain numerous environmental benefits and save money. Those benefits can be a reduction in electricity bills, secure fluctuations in costs, advanced initiatives that make energy-efficient, energy selling to the grid as an ability, timeless reliability, green energy incentives, authoritative efficiency, and improved investors’ status for clients in terms of reputation and confidence. It also helps you in taking minimum risks that will have long-term benefits.

Energy bills being a high expense when running a business can significantly strain the company budget.  Only the integration of renewable energy in the form of the wind turbine, solar panels, power operation’s usage, and other forms of renewable energy can reduce the cost of energy bills. The cost of energy fluctuates because energy transmits variations influenced by current energy prices. You don’t need to worry about electricity fluctuations if you have renewable energy resources.

Some companies wish to go green and use it as renewable energy with initiatives. They use it as a reduction in energy use. You can save more money on energy bills by enhancing energy efficiency and pairing renewables.

Finally, it is worth remembering that, in addition to the long-term cost-benefit, it is possible to cite, as advantages for the small business owner, the possible fiscal incentives and economic benefits that many governments offer to those who adopt alternative energy production. Depending on the country’s legislation, it is also possible to sell surplus energy to the electricity grid.

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.

Every adult that has purchased anything on credit has a credit score. Your credit score gives you buying power when it comes to homeownership or financing a vehicle. It can also affect what you pay for internet and phone services, utilities, and insurance. There are even some companies that require a certain credit score to be employed with them. A high or low credit score can be the difference between a great job and a good lifestyle and higher interest and debts.

Because there is such importance placed on your credit score, you must know what yours is and how to get it higher and keep it there. Here are five things you can do to repair, raise, or maintain your credit score.

Credit Cards

When it comes to your credit score, a credit card can have a large positive or negative impact on your credit score. Most people carry at least one credit card though it is suggested that you avoid having one altogether if possible. If you feel you must have a credit card, here are a few things to keep in mind.

• Don’t get a credit card with a high-interest rate
• Don’t have more than one credit card
• Make more than your minimum payments
• Always keep the balance lower than 10% of your limit
• Make them a priority to pay off before no to low-interest loans or payments
• Only use your credit card for emergencies

Avoid Debt

While it is understandable that most people don’t have enough cash on hand to purchase a home or car without a loan, you should avoid purchase on credit as much as possible. When you do need to carry a loan, here are a few things to consider.

• Shop for lenders
• Get the lowest interest rate possible
• Borrow from a friend or family member to avoid interest
• Pay more than the minimum payment
• Make these loan payments a priority
• Pay them twice a month if possible

Stop Applying

Many people don’t realize that every time you apply for a credit line, whether a loan, a rental application, or a store credit card, those applications initiate a hard credit check. Every hard credit check lowers your credit score. So if you are car shopping or trying to get a discount on our purchase by applying for the store credit card, you are lowering your score. Here are some things you can do to avoid this.

• Don’t apply for cards or store credit; you don’t need to get a discount
• Go to your bank or a lender and obtain preapproval for a car or home loan before shopping
• Use websites that do not affect your credit score to check your score and know what it is before applying for lines of credit

Dispute Your Credit Score

Many people think their credit score is etched in stone and cannot be changed until the credit falls off. While it is true that after seven years old debt falls off, there are also times when items on the credit report don’t belong there. Here are some things you can do to get bad debt removed from your credit score.

• Dispute old debt that is still on your report after seven years
• Dispute any debt you don’t recognize
• Pay off any debt that is still on your valid credit report

Pay Bills on Time

While financially responsible working adults should pay all bills on time, it is especially true of those bills that will lower your score if paid late. When prioritizing your bills, you should make those bills with high-interest rates and attachments to credit reporting a priority. Here are a few other things to keep in mind when paying your bills.

• Pay more than the minimum payments on bills with interest
• Check to see if any of your utility or service bills can be attached to your credit score for paying on time
• Make double payments per month on bills with interest

Conclusion

These are five areas of focus that will improve your credit score if you apply them. Knowing your credit score and how it affects your financial health should be a priority to every financially responsible working adult.

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.

Mastering Online Business Management:
Essential Keys for Success

Online business management means using proven strategies, digital tools, and modern workflows to keep your company organized, drive sustainable growth, and lead your team to success in today’s increasingly digital marketplace. The practice encompasses everything from cloud-based accounting systems to remote team coordination, from automated workflows to data-driven decision making—all working together to create seamless operations that scale.

Over my 20 years as CEO of Complete Controller, I’ve witnessed firsthand how businesses transform when they embrace digital operations. I’ve worked with companies across every sector—from startups to established enterprises—and the pattern is clear: those who master online business management achieve 40% faster growth rates and cut operational costs by up to 30%. This article shares the proven strategies that separate thriving digital businesses from those struggling to adapt, giving you the roadmap to implement systems that actually work.

What is online business management, and what are the essential keys for success?

• Online business management is the practice of using digital tools, proven strategies, and agile workflows to efficiently run, scale, and lead businesses in the online marketplace.
• Success relies on embracing digitalization, automation, and integrated platforms to streamline operations and decision-making.
• Leaders must foster remote team collaboration and resilience by investing in communication tools, clear workflows, and well-being initiatives.
• Strategic planning, regular analytics tracking, and adapting rapidly to new market trends are required for sustainable growth.
• First-hand experience, continuous learning, and investing in scalable software are distinguishing factors for top-performing digital businesses.

The Digital Shift: Why Online Business Management Is Critical in 2025

To stay competitive in 2025, businesses must prioritize digitalization, sustainability, human capital, and innovation. The numbers speak volumes—nearly 30% of all businesses now operate online, up from 21.5% just a decade ago, with global ecommerce sales projected to reach $4.3 trillion in 2025.

Business operations management has evolved with cloud-based platforms, AI-driven analytics, and integrated business apps (like Zoho One and Salesforce), making real-time decision-making accessible for all sizes of enterprise. Companies implementing structured project management practices see their projects become 2.5 times more successful, while those using dedicated project management software help employees save an average of 498 hours annually.

Online business tools such as ERP and CRM systems unite operations, communications, and data, helping founders reduce manual work and improve organizational efficiency. When I digitized Complete Controller’s workflows, we cut manual accounting hours by 40% and eliminated costly errors—proof that digital platforms are the new backbone of successful online businesses.

Key trends and techniques

• AI and automation deliver 172.73% average ROI for workflow optimization
• Hybrid work models boost productivity by 0.08 percentage points per 1% increase in remote workers
• Cloud solutions reduce infrastructure costs by 70% compared to on-premise systems
• Integrated business platforms combine CRM, accounting, and project management in unified dashboards

Building the Foundation: Strategic Planning & Core Frameworks

Whether launching or scaling, strategic planning determines your company’s trajectory. The digital transformation market, valued at $998.99 billion in 2020, will reach $2,744.68 billion by 2026—a 17.42% annual growth rate that signals the urgency of digital adoption.

Set a Clear Vision & Objectives: Forward-thinking goals drive daily actions and align teams around measurable outcomes. Companies with effective change management programs achieve 143% of their expected ROI from digital initiatives.

Market Positioning: Deep niche focus makes customer targeting and brand building more effective. Businesses that conduct thorough customer research before digital transformation are 1.6 times more likely to succeed.

Innovation & Agility: Adopting new technologies, building contingency plans for disruptions, and embracing sustainability keeps your business future-ready. Organizations with dedicated Chief Digital Officers achieve significantly higher transformation success rates.

Performance Metrics: Use KPIs and analytics dashboards to monitor, adapt, and refine growth strategies. Real-time data access enables 65% faster decision-making compared to traditional reporting methods.

How to manage an online business effectively

• Develop contingency plans addressing supply chain resilience and market disruptions
• Build strategic partnerships that expand capabilities without increasing overhead
• Create omnichannel customer experiences connecting web, mobile, and social platforms
• Implement quarterly business reviews to maintain strategic alignment

Essential Tools for Seamless Online Business Management

Digital software forms the backbone of business efficiency, with the business management software market growing from $20.2 billion in 2024 to a projected $40.5 billion by 2033.

Online business management software like Zoho One, Salesforce, HubSpot, and HoneyBook provide unified platforms for operations, CRM, marketing, and client communication. These integrated solutions eliminate data silos and enable seamless information flow across departments.

Best tools for online business management should match your team’s size, functional needs, and growth plans. Cloud-based solutions, despite higher initial costs of $70,000-$100,000, deliver superior ROI through eliminated maintenance expenses and pay-as-you-go scalability.

Project management software (Asana, Trello, Monday.com) and accounting tools (QuickBooks, Sage) keep tasks and finances on track. High-performing projects use dedicated software 77% of the time, compared to just 23% overall.

Online business tools for every operation

• Project Management: Assign tasks, set deadlines, track progress with visual dashboards
• CRM Systems: Automate follow-ups, track customer journeys, measure conversion rates
• Communication Platforms: Slack and Microsoft Teams enable instant collaboration across time zones
• Document Management: Centralize contracts, invoices, and files with version control

Online business management software reviews

Leading platforms differentiate through scalability, integration capabilities, and user experience. Salesforce excels in enterprise CRM but requires significant customization investment. Zoho One offers exceptional value for small to medium businesses with 45+ integrated applications. HubSpot balances marketing automation with sales enablement, while Monday.com provides visual project tracking that non-technical teams embrace quickly.

Scaling Up: Strategies for Growth & Efficiency

Growth requires intentional strategies backed by data-driven execution. Automation alone frees up 82% of sales teams to focus on building stronger client relationships, while reducing invoice processing costs from $15-40 to just $5 per transaction.

Refine Your Niche: Stand out by deeply understanding and solving specific audience pain points. Businesses focusing on defined market segments achieve 23% higher profit margins.

Streamline Operations: Automate fulfillment, support, and inventory to handle surges without breaking systems. Payment automation saves finance departments over 500 hours annually.

Content & SEO: Create value-driven content, optimize for search intent, and attract organic traffic. Companies investing in content marketing see 6x higher conversion rates.

E-commerce strategy: Use digital marketing, targeted campaigns, and analytics to boost reach and sales. By 2028, online purchases will represent 22.5% of total retail sales.

Improving online business efficiency

• Deploy AI chatbots handling 80% of routine customer inquiries
• Implement automated inventory management, preventing stockouts
• Use predictive analytics to identify sales trends 30 days ahead
• Outsource specialized functions like graphic design and content creation

Remote Team Leadership & Collaboration

Leading remote team collaboration requires structure, technology, and human connection. Research shows remote work increases total factor productivity by 1.2 percentage points while reducing turnover costs.

Set clear policies, use collaborative tools, and invest in employee well-being to maintain productivity and engagement. Companies offering flexible work arrangements fill positions 25% faster than those requiring full office attendance.

Tips for remote business management: Foster trust through outcome-based management, communicate goals using OKR frameworks, and celebrate wins virtually with team recognition programs.

Mental health programs, flexible work hours, and professional development help retain top talent. Eighty-eight percent of employees using automation tools report higher job satisfaction.

Tips for remote business management

• Task Management: Create transparent workflows with clear ownership and deadlines
• Team Engagement: Schedule daily stand-ups, weekly one-on-ones, and monthly all-hands meetings
• Well-being Support: Offer mental health days, home office stipends, and wellness programs
• Performance Tracking: Focus on deliverables rather than hours logged

Case study—Remote team success

Case Study: Scaling an E-commerce Team with Digital Collaboration Tools

In 2024, an eco-friendly e-commerce brand adopted Asana and Slack for remote project management, cutting project delays by 30% and increasing team retention rate by 18%. Their founder notes, “We finally stopped chasing emails—our team could focus on growth.”

Navigating Change: Adapting to Trends and Building Resilience

Business trends—like AI, automation, and sustainability—require founders to adapt quickly. The subscription economy alone will reach $996 billion by 2028, while SaaS markets expand to $793.10 billion before 2030.

Continuous learning and risk management prove central to resilience. Organizations investing in employee development see 218% higher income per employee.

Monitor industry changes through Google Alerts, industry publications, and peer networks. Update processes quarterly based on performance data and emerging opportunities.

As we transitioned to remote-first operations at Complete Controller, our ability to adapt—embracing new tools and listening to staff feedback—proved even more important than initial planning.

Digital project management for ongoing success

• Adjust project priorities based on real-time analytics and market feedback
• Hold quarterly OKR reviews, ensuring long-term strategic alignment
• Integrate emerging tools like AI assistants and blockchain verification
• Build buffer time into project timelines for unexpected opportunities

Conclusion

Mastering online business management starts with bold digital adoption, clear planning, and choosing tools aligned with your growth trajectory. From my journey building Complete Controller into a leading cloud-based financial services provider, I’ve learned that investing in your team, automating wisely, and staying relentlessly agile create lasting competitive advantages. Success comes from combining the right technology with empowered people and streamlined processes. Ready to transform your business operations? Visit Complete Controller to discover how our expert team can help you implement these strategies and achieve the operational excellence your business deserves.

Frequently Asked Questions About Online Business Management

What is online business management, and why is it important?

Online business management is the coordinated use of digital strategies and software to efficiently run, grow, and lead a business in today’s digital-first world. It’s important because businesses using structured online management see 2.5x higher project success rates and save hundreds of hours annually through automation.

What software do I need to manage my online business?

Essential software includes project management tools (Asana, Monday.com), CRM systems (Salesforce, HubSpot), accounting platforms (QuickBooks Online), and communication tools (Slack, Microsoft Teams). Choose based on your team size, budget, and specific industry needs.

How do I manage remote teams effectively in an online business?

Use structured communication protocols with daily check-ins, implement project management software for task visibility, set clear deliverable-based goals, and invest in team well-being through flexible schedules and mental health support.

What’s the best way to increase online business efficiency?

Automate repetitive tasks (which can reduce costs by 75%), implement integrated software platforms to eliminate data silos, analyze KPIs weekly to identify bottlenecks, and outsource non-core functions to specialized providers.

How can I scale my online business successfully?

Focus on a specific niche to achieve 23% higher profit margins, invest in content marketing for 6x higher conversion rates, implement automated systems before you need them, and use data analytics to make informed growth decisions.

Sources

• “Business Management trends and techniques for 2025.” Must Edu, 2025.
• “Best Business Management Software 2025.” Zoho One, 2025.
• “Proven Strategies to Scale Your Online Business in 2025.” Gentry & Stone, 2025.
• “What Is Business Management Software?” Salesforce, 2025.
• “Strategic Planning for 2025.” Invoice Online, 2025.
• “7 Management Software All Small Businesses Should Use in 2025.” Slite, 2025.
• “10 Business Development Strategies to Drive Growth in 2025.” Champlain College, 2025.
• “16 Business Trends for 2025: How to Stay Ahead.” Coursera, 2025.
• “40 Best Project Management Software Picked For 2025.” The Digital Project Manager, 2025.

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. Reviewed By: Brittany McMillen

Brittany McMillen

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.

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Working from home is amazing. It offers many benefits of flexible working hours, favorite sleep-wake cycle, working in pajamas, and so much more. But, does the home environment bring out all the potential of a person? Most people tend to become lazy at home because of the coziness that the home atmosphere provides.

For many, working from home is a luxury, especially for mommies and nonsocial people. But to be productive in the home environment, certain work at home rules should be followed. Otherwise, instead of becoming a blessing, this benefit will become a detriment. Here are ten of the best work from home tips to keep you productive.

Be an Early Bird

Early to bed and early to rise makes a man wealthy, healthy, and wise. The morning time is best to work because the mind has been restarted from last night’s sleep. It is the most productive time of the day, and people who avail it are more productive than the late risers. That’s the reason why offices, schools, colleges, etc. open at 8 or 9 a.m.

Set the Work Hours

Home chores don’t end ever. A person needs to set working hours and pretend to be in the office in those hours – saying goodbye to the housework. This will help to achieve the goals faster. An individual should work like the manager is watching them during those hours. Set the schedule and stick to it.

Make a Work Space

A person should not work in the space he sleeps because that environment is too comfortable to work and makes an individual sleepy. Dedicating a special place in the house for working has helped many in completing their day-to-day task. Set a special place and decorate it accordingly to become more productive.

Take Breaks Often

Take a break often like a tea break or a lunch break, and don’t stress about work during that time. These breaks will work like boosters and refresh the mind in no time. One can take a home chores break as well to complete the work that is bugging the mind.

Don’t Use Social Media

Nothing kills time better than social media. Don’t give time to social media at all when working. Keep the cell-phone away when it is possible. If social media becomes necessary, don’t get on it and explore; do the task and leave that platform. 

Commit to the Work

The project doesn’t need to get completed in the time a person sets. That’s why most of the work remains incomplete.  A person must complete the goal at home even when the set time is exceeded. This will lower the next day’s burden and helps to remain up-to-date.

Identify Your Best Time of Day

No person can remain highly productive from night and day. The best time of day for the most productive work will vary from person-to-person.  Identify your most productive time of day and save your most difficult tasks to accomplish during that time. If that time of day for you is at the beginning of your workday, then accomplish your most difficult (or dreaded) task first thing.

Get Out in Public

When a person is working from home, it is important to go out occasionally; this will improve the work pace. Take the laptop out in public and work in the area where people talk, like a coffee shop, a restaurant, etc. That chitter-chatter will help the brain to work better.

One Distraction is Better than Many

One distraction helps the person to achieve the goal faster. It aids an individual to focus more and become more productive. For instance, if there’s a baby in the house and the person who wants to work has to babysit the baby, that individual will work faster whenever they get the time and be more focused.

Plan Your Day

Planning helps manage the work at hand properly. For instance, when a person plans to go shopping, the working hours should be maintained. For any new activity in the coming days, manage the timetable and set special hours to complete the project on 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-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.

Getting your employees to be happy in your company will have direct benefits in the annual results. We tell you what you must do to get an optimal working environment. According to a study, a happy employee is 12% more productive, while an unhappy employee is 10% less productive. There is no definite formula for having a happy employee since each employee is unique. However, certain variables will help your company and its overall culture be a happy place to work when applied to your employees.

Listen to Your Employees

Internal communication is essential to create empathy and to know how your employees value your company. The best way to know if your employees are happy or not is to ask them. Asking them will help you identify possible internal problems and eradicate them before it is too late.

Many companies use tools such as Typeform to develop small surveys and send them to their workers at the end of the week to identify possible improvements. In these surveys, they pose basic and easy to answer questions such as:

• How was your week overall?
• Have you had a lot of work?
• What was the highlight of your week?

Employee feedback is essential in a company. We must consider your valued employee’s ideas and concerns. This is essential to make them feel that they are valued and that you care about improving the work environment.

Remember that happiness directly affects productivity and, therefore, the overall production results of the company. A happy environment benefits everyone from the top down.

In addition to surveys, continuous and open communication is essential. There are internal chat tools, such as Google chat in Gmail or Slack, that help improve communication between employees.

Delegate Work

Giving power and responsibility to an employee helps keep their motivation high. It gives them a reason to continue to strive and make sense of their day to day tasks and expectations. It also offers them opportunities to grow within the company.

But it is not enough to delegate responsibilities; you will also have to establish some objectives to achieve in a limited space of time. It is recommended that the achievement of these objectives has a reward behind them. Having rewards for doing good work will benefit both the company and employees when they feel fulfilled. Being recognized and rewarded will have a domino effect on productivity and a positive attitude contagious to other employees.

Care About Their Career Path

Often employees fill positions out of necessity and not necessarily because that is their chosen position. If this filling of the position is temporary, that won’t hinder growth or advancement. However, sometimes an employee gets stuck in a position that was not part of their dream job.

It is an excellent idea to meet with your employees and determine their career and financial goals. Often we are unaware that they have ambitions or didn’t want to remain in their current position. Once you determine your employee’s ambition, it is your job to help them get any additional training and encourage them to sign up for courses, workshops, or conferences to expand their knowledge. Not only will they be better in their day-to-day tasks, but they will gain skills that will help them advance their career.

Celebrate Achievements

There is no doubt that celebrating makes us happy, and there are many reasons to celebrate: successes, new clients, the completion of projects. It would be best if you involved all the staff in the celebration of achievements. It is important that everyone feels they are part of the successes achieved and that their two cents have served as something to achieve important company goals.

Finally, as affirmed by an expert in the study of work happiness, the key to fostering an optimal environment is to look for what makes you enjoy your work and focus on the positive.

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.

Every financially responsible adult is aware of the importance of your credit score. Most credit scores linger around the good to poor range due to unpaid or slow paid debts. Even if you have a decent score when making large purchases such as a car or home, a higher credit score can be the difference between higher interest rates or lower payments. These differences could cost or save you hundreds of dollars. Here are five easy ways to boost your credit score and stay on top of it.

Find Out When Your Issuer Reports Payment History

For a major boost to your credit, you must know your credit cards’ reporting date. The reason is that your credit can receive a boost if you carry less than 10% of your credit card limit each month. Regardless of your credit limits or minimum payment requirements, you will always want to ensure your balance is under 10% of your credit limit.

The reason you must know the reporting date of the credit holder is that if you get your balance below 10% or even pay the entire balance, but it is after the reporting date, it will do nothing positive for your credit score or may even lower it slightly depending on what percentage of your limit you are holding.

For the best results, pay your bill down just before the reporting date, which can be a monthly boost to your credit score.

Pay Down Debt Strategically

To boost your score, you now know you need to keep your balance below 10% of your credit limit. So if you have more than one credit card, you will want to pay down the balances to get them all below 10% of their limit. For those cards already below this percentage, you can make a minimum required payment.

The other strategy you want to utilize is to pay more towards loans or credit cards with the highest interest. The more quickly you pay these down, the bigger the savings and the better the boost to your credit score.

Pay Twice a Month

While sometimes finances are such that even making one payment on a loan or credit card can be a challenge, if possible, it is suggested you attempt to make two payments. This will boost your credit score and help save you money by paying off interest, gaining debt far more quickly.

Raise Your Credit Limits

If you are a shopaholic, you may be getting excited about this option; however, raising your credit limit is not so you can spend more and get into more debt. In this case, raising your limit and keeping your ratio below 10% will boost your credit score.

Only ask for an increase in credit if you have been on time on all your payments with the creditor as if you ask for an increase and have not paid on time or at all, this raise of your limit request may alarm the creditor and in some cases, they may even lower your credit.

Mix It Up

While having diverse credit is only accounts for 10% of your overall score, having a mix will boost your credit. Having a mix means that you need different types of current credit that you are paying off. Suppose your only credit is revolving credit, such as a credit card or an installment payment on a long-term loan such as a mortgage. You will need to diversify your credit. If you can purchase something on credit, pay it off quickly to give your credit score a quick boost.

Conclusion

Your credit score should always be a financial priority. While you may never need it to make large purchases, your credit score is used to determine interest rates and, in some cases, can be used by phone and utility companies to decide on down payments or additional fees. It can also be a factor a potential employer considers before hiring you. Whatever the reason your credit score may be used, it is important to keep it as high as possible so use these quick boosts to raise your score. 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.

Not every person who goes to college has a scholarship or parents who started saving for their higher education when they were a baby. College, in some cases, can be so expensive that potential students don’t go. It’s sad to hear that finances could be the difference in an eager learner not getting to go after their dream of going to college.

It’s time to work on making that dream a reality for all who would love to further their education. Here are seven ideas of how a student can get a college education without scholarships or Mom and Dad paying for it.

FAFSA

FAFSA is also known as Free Application for Federal Student Aid. This application gets you into the system of student financial aid. It connects you to the possibility of receiving aid in the form of student loans, state and school-based aid, federal grants, and work-study programs. You may not qualify for certain aid, but your chances of receiving financial aid increase with this application, so there is no downside to filling it out even if you don’t expect to qualify for any aid.

Scholarships

When most people hear the word scholarships, they think of full-ride scholarships based on sports or academics. The average student doesn’t qualify for this type of scholarship. However, there are so many scholarships out there if you know how to look for them and are prepared for the writing you will have to do to get them. Many businesses will benefit scholarship students through essays or other means of connection. Scholarship money is ideal as it is not a loan and doesn’t have to be paid back.

Community College

While some degrees require you to go to a specific college, many degrees can be obtained at a community college. Even if you have to go to a specific college to pursue your degree, community college is a great money-saving way to get the basic classes required out of the way for much less cost. The key is to be sure that your credits will transfer once you are ready to change to the college to get your degree.

Grants

Grants are free money usually given out through government programs. These grants are free money because you don’t have to pay a grant back like a student loan. Though they may be a little difficult to get, they are at least worth the chance.

Work-Study Job

Work-study jobs allow you to earn money and, in some cases, earn credits towards your degree. These jobs are community service jobs, jobs related to your area of study, or jobs on campus. These jobs can be obtained by seeking out jobs that are listed as work-study jobs. You can also fill out the FAFSA application and find out if you qualify for a work-study program.

Federal Loans

Suppose you don’t qualify for those means of paying for college that doesn’t have to be paid back or is attached to your job. In that case, you may need to apply for a federal student loan if you decide to take out this type of loan, only an amount that has payments that will equal less than 10% of your projected monthly income after taxes.

Federal student loans are better than private loans in that there are programs that can help you pay back the loans based on income and some other loan forgiveness plans.

Private Loans

Private loans can be great but expensive, and since they are not through the government, they will not qualify for any student loan forgiveness programs. You must shop for the most flexible, lowest interest loan you can get.

Many private student loans don’t require you to pay the money back until after you graduate. Though this could be a relief so that you don’t have to get a job during college and focus on your studies, these loans usually accrued interest while you’re in school. There are interest calculators that can help you determine how much your accrual will be and how much you will owe in total.

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

For entrepreneurs that are just setting up their startup business, acquiring a business loan might be the one method that transforms their fantasy of owning a business into a reality. Some new business owners may try to obtain capital for their small business from bank loans. Even though a small business may get a business loan to reach its financial goals, it has some disadvantages. Here are seven disadvantages to small business loans.

Not All Businesses Are Eligible

There are many severe rules and regulations that banks have set up concerning accepting or denying the application for a business loan. Not all businesses will be eligible to meet the criteria set by the banks. Moreover, banks always favor established businesses over startups. They lean towards operational businesses since they can check their productivity, profitability, and credit history before authorizing the loan.

 

Loans Secured Against Collateral

A lot of the loans are secured against a real estate property that the business owns. Banks may necessitate that the entrepreneur should set up some security to acquire the loan. Generally, one might put their property in danger if the business is not profitable. The uncertainty of this is that the bank can seize the asset if the entrepreneur neglects to repay the loan on time. It turns into a problem when the business is not making as many profits as one thought it would, and the business owners cannot meet the repayment requirements on time.

 

Tedious Application Process

The application process for a business loan is tedious. There are a lot more complexities when applying for a business loan as compared to personal loans. Banks check and validate every document that an entrepreneur puts in the application, and after that, the banks judge whether or not the business is eligible for a loan. The judgment of the loan’s eligibility is based on a points system that has to be balanced as new data keeps coming in. this is an unvaried and extensive process.

High-Interest Rates

The interest rates for business loans from banks can be very high, and the amount of the bank loan that a business is eligible for is not adequate to address the business’s problems. The high-interest rate for the loan a business receives can stunt the business’s development and growth, as the business needs to gain profit from the loan and manage the extra cost of the high-interest rate.

If a business entrepreneur gets an irregular payment method, the interest rates change with the economic market. This makes it harder to calculate the particular amount of future installment payments. Subsequently, it also becomes difficult to make sound financial strategies.

 

Strict Repayment Schedule

Banks endorse an extremely strict repayment schedule to the debtor, which must be followed firmly. The inability to do so may lessen the debtor’s credit score and future credibility. The inflexibility to adhere to the repayment schedule creates problems for the debtor most of the time.

Processing Fees

To authorize a loan, most banks charge extra fees for the processing, which adds to the total sum of the money one has to repay the bank. Normally, it is charged according to the loan sum in terms of percentage. The higher the loan sum, the higher is the processing fees.

 

Difficulties in Acquiring Loans

One of the biggest disadvantages of bank loans is that they are extremely hard to acquire except if they have a considerable reputation or expensive collateral like property. Banks are cautious and accept the request of those businesses that they can see easily repaying their loans. Banks also ensure that the business can repay the loan even if the business suffers a loss. 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 it comes to investments, there are many things to consider. Even if you hire a professional to help you with your investments, it is important that you understand them and how they work. The more you know, the better you can make decisions, whether on your own or with a professional’s help.

One of the main focuses that most investment experts focus on is diversification. Here is everything you need to know about investment diversification.

Diversification Explained

Diversification can be explained very simply with the following sentence, “Do not put all your eggs in one basket.” The saying indicates that if you have all your eggs in one basket and drop it, you will lose all your eggs, whereas if you separate them into several baskets, you will only lose a few if you drop one. The same thing is true when it comes to investing.

Investing can be risky in itself, so if you want to be a savvy investor, you have to look at ways to reduce risk while continuing to invest in ways that will get you the highest possible returns. Diversifying is the best way to accomplish this goal.

So using the eggs in one basket analogy if, instead of eggs, we are talking about money, losing everything can be a setback that will cost you a lot to recover and greatly reduce your profitability. Diversification applies in all areas of investment and also a business.

Consider Fanta, Sprite, Nordic, Aquarius, Powerade, Nestea, Minute Maid, Aquabona, etc. Do you know what they all have in common? All are brands of CocaCola. The company earns a lot of money selling Coke, but they know that this can change since nothing is static. Therefore, they constantly diversify and create and acquire new brands. They do not want to put all their eggs in the same basket, and they prepare for possible changes being in the largest possible number of markets within their industry.

Types of Diversification

There are three major types of diversification, especially when we talk about investments.

Geographic Diversification

Geographic diversification is investing in multiple geographic areas rather than all in one area. This could mean that you could invest in companies that are based in different states. This type of diversification could also mean taking your investments internationally and investing in companies from other countries. Going international can protect some of your investments if a country hits hard economic times or has a stock market crash.

Asset Diversification

Diversification of assets means that you have investments in several companies. To diversify even more, you could make sure your investments were in different industries: the more diverse, the better you are protected, and the lower the risk for the higher returns.

Temporary Diversification

Temporary diversification means that you buy several stocks for a short time with a quick turn around to sell. This investing can give you some capital to put towards longer-term investments.

Final Thoughts About Diversification

Diversification refers to the allocation of funds or investment in different assets. Another great analogy of what diversification does for the investor is the window analogy. If you have a window that is one pane of glass if that window gets broken, you will lose the entire pane of glass, and the cost to replace it will be high. However, if you have a window that is nine panes of glass, if one of the panes gets broken, the other panes are still protecting from the elements, and the cost of the one small pane is far less of a hit on your income.

The idea behind diversification is that you can take more risks in some of your investments because you have several investments working for you. You can also afford to invest in areas or industries you might not try because of the risks.

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.