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Revenue Generating - Complete Controller

Recent research reveals that more than 94% of businesses do not perform well in the first year of operation. Find the reason for a revenue boost as a startup owner. There can be a lack of funding that prevents many startups from generating substantial revenue in a year. Investment is the backbone of the business, and it requires at least six months of backup coverage to survive in many industries.

Businesses need enough capital for revenue generation. Every business stage, entrepreneurs plan the way to finance their startups. The exact rate of business funds depends upon your business status and nature. Fundraising is a fundamental need. Here are four great revenue generation tips for startups. Check out America's Best Bookkeepers

Transactional revenue generation model

Several companies, including tech-oriented ones, strive hard to depend on the transactional revenue generation model. You can directly increase your startup revenue by using this model to sell products and services for a substantial profit.

The directness of the transactional revenue model creates more competition and price deterioration. Businesses can’t earn enough money as they opt for this model. Still, it can help you in catching more leads and potential customers. You can build long-term business liability by using a transactional revenue generation model. Also, you will know where you can fix it at the beginning of the business, as it’s essentially important. Check out America's Best Bookkeepers

Direct sales

The company’s sales agents conduct two types of sales that are inside and outside sales. An inside sales happen when someone calls you for order placement, or you (salesperson) explain your service or product’s prospects on a phone call. Outside sales is a live sales transaction that occurs face to face among sales agents and clients.

You can make timelessly significant relations with your clients. It also helps you run sales cycles, complex sales cycles, enterprise sales cycles as it entails different influencers and purchasers. If you are following the direct sales model, you will have a good sales team. It means you can’t sell small ticket price items as it is not optimal. If you are selling products and services below $1,000 to $2,000, it can difficult to establish a scalable company.

Indirect sales or channel sales

In this model, sales agents or resellers sell your product or services to their clients. You will have an option that either you or the reseller send the delivery. If you are providing a virtual product, you will need to have an affiliate revenue model as the best companion. If you sell a product with an incremental sale for the channel and incremental profit, the indirect sales model is ideal for your company.

If you need to evangelize your marketplace, don’t use a channel or an indirect sales model. It is not suitable when your product involves fierce competition with their partners to promote their products or services. Develop the best revenue model for your business. As a result, your startup’s financial health will remain constant. You can help your potential investors in connecting dots if you have a credible revenue model. Check out America's Best Bookkeepers

Credit card acceptance

Re-energize your sales channel by accepting credit cards. It will enhance your sales and let your potential clients leverage from on-time credit card payment. If you don’t have credit cards, open an account from any bank branch or financial institution.

As a result, there will be a fast recovery of initial setup costs. You can also consider your small processing fee at your retail price. You will need to investigate how many sources of credit cards are available to your clients. For example, sometimes, franchises use programs of the American Small Business Administration for financing their business.

You can use funds provided by manufacturers and companies if you need to buy expensive equipment or need large real estate investment. Identify the sources when you have a variety of independent sources of credit that is available for consumers. Also, provide a facility for conducting an introduction between your clients and the lender.

Conclusion

According to multiple theorist’s claims, ups and downs in business is a common practice that lets them decline or grow. Reinvent or keep your company’s progress constant by solving all your client’s queries. Also, adapt their products, sales methods, and strategies, especially you have to meet changing paradigms.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Mistakes Made by Startup Entrepreneurs - Complete Controller

The creation of a business can be extremely risky, no matter the industry or the entrepreneur. Nearly 50% of companies go out of business within three years of existence. To go surpass this 3-year mark and thrive, it is necessary to implement proper procedures when initially forming your business. Listed below are some common mistakes made by startups that ultimately contribute to their failure. Check out America's Best Bookkeepers

  1. Start with inadequate financial resources

Entrepreneurs often neglect to adequately plan their finances in order to minimize the amount of capital needed to start their business. The result of this? Inadequate funding for goals and the lack of cash reserved for unexpected situations and emergencies.

To avoid these issues, take care to prepare financial projections for your new business, particularly for the first 12 months. These can also help with obtaining financing and investments.

  1. Neglecting to write a business plan

Many novice entrepreneurs do not prepare a proper business plan. This document does not need to belong and detailed; however, taking the time to develop a solid plan will allow you to be consistent in your efforts, serve as a rallying point for your team, and facilitate setting deadlines for measuring your progress. Check out America's Best Bookkeepers

  1. Neglecting to track progress and adjust the shot

Do not make the mistake of only saving your business plan on a tablet. Create a dynamic document by constantly monitoring your progress and keeping it current.

  1. Buy assets with cash

The use of operating funds to secure long-term assets is a common mistake that can lead to a lack of liquidity. When evaluating your purchases of equipment, machinery, or computer services, consider using a commercial loan with a repayment period that corresponds to the life of the asset (for example, a seven-year loan for a vehicle you want to use for seven years).

  1. Avoid asking for outside help

Many new entrepreneurs avoid asking for help, even when they desperately need it. Get advice from a mentor, hire an outside consultant, or create an advisory committee to gain support and ideas.

  1. Set a bad price

Do not make the mistake of setting your prices only according to those of your competitors. In order to make an informed decision, it is important to perform a detailed cost search for each of your products. You must also routinely monitor your costs so that you can make the necessary adjustments. Check out America's Best Bookkeepers

  1. Neglecting technology

Canadian companies are investing less in technology than US companies, and that affects our overall productivity. Be sure to evaluate how technology could be beneficial for your business’s growth, efficiency, and profitability.

  1. Neglecting Online Marketing

Take care to evaluate how you can take advantage of internet marketing. For example, ads on social media platforms can be a more affordable way to effectively target specific segments of the market.

  1. Do not learn from your mistakes

When starting your business, learn from your mistakes and use them as a guide to success. Remember that many successful entrepreneurs failed on their first try. What is important is to come back stronger after understanding what did not work.

  1. To choose wrong partners

As the saying goes, it is better to be alone than badly accompanied. This applies perfectly when first creating your business. It is true that having a partner in launch can be reassuring; however, a bad association can completely harm the development of the company and its’ future. It goes without saying that it is not uncommon to see associates turn into enemies. This often occurs when their respective tasks have not been carefully defined from the beginning of the venture.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Commissioned Accountant - Complete Controller

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 Check out America's Best Bookkeepers

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 economy and 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 Check out America's Best Bookkeepers
  • 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. Check out America's Best Bookkeepers

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.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Modern Day Bookkeeping - Complete Controller

When digitization is rapidly taking over every industry in modern-day business, it is a challenging time for entrepreneurs to enter the market with a blooming business idea. In a successful business, every business sector works simultaneously and in coordination with one another. These sectors or departments contribute to the operation of the business. One major department that is responsible for a brand and its growth is the accounting or bookkeeping department. While sometimes underrated, bookkeeping is key in determining a business’s long-term success, security, and stability.

Recently, many entrepreneurs have ignored the importance of having a strong bookkeeping department.  With technological advances and digitization, traditional bookkeeping services have become outdated. For many business owners, bookkeeping is a medieval job duty. For the tech-savvy, anything that involves paperwork seemingly has no significance at all. Yes, bookkeeping can be a hassle if not done properly, which is exactly why it is important for business owners to implement the appropriate bookkeeping tools and techniques. The results are a simplified yet accurate financial department. Check out America's Best Bookkeepers

If you are an entrepreneur of a young business, you will need a functional bookkeeping strategy. Below we describe how the most effective bookkeeping tools can make your daily financial tasks quick and efficient and leave room for you to focus on developing your brand and expanding your business.

Good Bookkeeping Software Simplifies Accounts Payable

If you are a young entrepreneur, you probably worry, at least sometimes, about paying bills on time. At the very least, you understand the difficulty meeting your business’ deadlines. If your bookkeeping methods are outdated, you will likely come across problems. Having the proper tools and software makes paying the bills less stressful. The best programs eliminate the possibility of late payments altogether by handling online bills and accounts payable automatically. Some built-in features can simplify the bookkeeping tasks that would normally take a lot of time if done manually. An automated system can also be programmed to balance the business credit card and track the expense account.

Another feature of important software such as Quickbooks is that it can create a means for efficient payroll. Check out America's Best Bookkeepers

Good Bookkeeping Software Manages Accounts Receivable

Having an efficient accounts receivable department is equally important. Another valuable feature of modern-day bookkeeping software is its ability to create comprehensive, customizable invoices and reports for your enterprise. These reports allow a business owner to know what money is owed to the company. Having accurate invoices to keep track of sales made during a specific season helps a business owner manage income. With a record of previous financial gains and losses, they can manage and improve their income.

Good Bookkeeping Software Is Cost-Effective

Of course, during the early stages of managing a business, most entrepreneurs will have a minimal budget and may not be able to afford to hire skilled staff. Therefore, they will need to have resources in place to cover the bookkeeping tasks normally performed by a live accounting department. Streamlining these tasks will allow a company room to grow and allow you time to focus on expanding your business. Check out America's Best Bookkeepers

Good Bookkeeping Software Has Pre Built Reports

Good bookkeeping software already includes pre-built reports; so, you don’t have to put any effort in whatsoever. A bookkeeping tool simplifies and manages the cash flow activities for a business and records them as archived reports. All financial reports are pre-built in programs like Quickbooks,  so other resources or human effort must not formulate them.

Conclusion

Every successful business owner has the aim of creating wealth and the goal of expanding their business. By ensuring you consider the above, you can be well on your way to accomplish these goals and expand your financial horizons. If you want to update your financial department and streamline your bookkeeping procedures, make sure to use the appropriate software and consult with the appropriate experts!

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
HR Department - Complete Controller

When preparing to launch a business venture, entrepreneurs are faced with creating and developing a healthy and productive operational team. This involves organizing functional departments such as marketing, accounting, technology, customer service, and – Human Resources. You will need a designated plan for addressing recruiting, benefits, and compliance within your organization. These are the basic roles and responsibilities of an HR department and tips to ensure it runs smoothlyCheck out America's Best Bookkeepers

Recruiting

The major responsibility of the HR Department is staffing the company.  This is also called talent acquisition. Typically when there is a need for additional help, human resources creates a list of the job description and is responsible for attracting candidates with suitable skillsets and relevant expertise. This process can include posting on job boards, putting an ad in the classifieds, posting it on the company website, or using a third party service.

 

Talent Assessment

Talent assessment duties of the HR department include reviewing resumes, interviewing candidates, and testing their knowledge and skills relevant to the job. One major obstacle that HR typically faces is how to assess the loyalty and dedication of the candidate and potential new hire. Training and onboarding a new hire takes time and money; therefore, you want someone who will stick around. Check out America's Best Bookkeepers

A good tip to make sure you are hiring someone who has the potential for staying long term is by looking at how frequently they have switched their jobs in the past. If it is too frequent, then the chances are higher that they are looking for a better opportunity. While it is important to look into their education and certifications, overlooking job stability is a major flaw in the hiring process leading to severe consequences within the company.

Also, make sure that you interview candidates appropriately. It is important to have someone from the specific department help interview since they are the ones who will be working with that person.  

 

Terminating Employees

The HR department is also responsible for determining what constitutes grounds for terminating employment and deciding what that looks like. It can be very unhealthy for an organization’s firing process to be flawed. Companies show many talented employees at the exit door due to bad performance. What they may be missing here is the importance of looking into what is causing the bad performance. The employee may just be going through a bad phase of their lives. It is the job of an organization’s HR department to find out the problem with an employee and address it rather than firing them due to poor performance. Check out America's Best Bookkeepers

Favoritism

It is extremely important to have a department that is free of any favoritism as this is the biggest concern in the corporate sector. Usually, a successful HR department incorporates some sort of policy into a job application that disallows the family of the executives to apply for the job. This ensures your company avoids hiring on people that don’t add any value to the company.

Legal Compliance

Another major part of the HR Department is to make sure all of the correct tax forms are filled out when onboarding new employees. Any mistakes in this area can lead to fines by the IRS and loss of money from the company.

Conclusion

These are the common mistakes that ultimately prove to be fatal and unfixable. Statistics show that more than half of the small businesses worldwide dissolve within their first few years, and mistakes made in HR have the potential to cost a larger established firm millions of dollars. Ensure your company succeeds and invest in a qualified team.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Securing Financing - Complete Controller
The financing of a company is based on securing money that can be utilized to pay for necessary investments and ensure its proper functioning. Financing a new business is a difficult undertaking, and there should either be significant savings on hand, or there should be a dependable financer ready to contribute the necessary finances.  

Types of Financing

Financing can be secured and repaid in the short term or long term. Short-term financing is the one that must be repaid in a period of less than one year, while long-term financing is used for larger investments and is returned in longer periods.  A new business owner must determine which option best fits their needs, which their investor will prefer, and which repayment option is feasible.   Check out America's Best Bookkeepers

Financing New Business

Undoubtedly, it is necessary to know about all the possible financing alternatives that exist for funding a new business and to know which option is the one that can assure hassle-free business. This blog is about understanding how companies are financed and some advice on obtaining investors to finance new businesses. 

Securing Finance of New Business


Before choosing any financing model to start a new business, it is necessary to carry out a study that assesses all the possible options. It is also essential to carry out a financing plan in which all the financial conditions and costs are detailed, and an amortization plan is set. This financial should also include a repayment plan. Check out America's Best Bookkeepers

Financing for entrepreneurs

One of the main issues when starting a business is for a sole proprietorship to find the money necessary to finance the business. Sometimes, it can be difficult to convince investors of an idea’s potential without presenting a product. In turn, the idea cannot be fully developed due to a lack of resources. Luckily, entrepreneurs enjoy exploring options when it comes to acquiring money to create their businesses. Most entrepreneurs can look beyond banks to get financing. It is necessary to have a complete business plan that shows others the economic viability of the company.  The most common financial models for new businesses are listed below: 
  • Venture capital
  • Seed capital
  • Business Angels
  • Crowdfunding
  • Aid for entrepreneurs
  • Participative loans
  • Business incubators
  • Friends, Family, and Fools
  • Sources of financing for e-commerce  
There is no correct answer as to which method is the best when financing a new business.  Much of the appropriate method of financing depends on the company’s situation and needs.  The amount of money required and other variables like a repayment plan must be studied to know what actions should be taken. Check out America's Best Bookkeepers

Loans

When creating a company, it can seem like an almost impossible task if there is no firm funding. Traditional bank financing has been reduced exponentially, and having a good and competent business idea is not enough for banks to contribute their capital. The bank previously provided up to 90% of financing to companies, funneling its clients’ money towards new clients and managing profitability in the best way.  Unfortunately, this is not always the case in today’s economy. 

Alternate of Bank Loans

The gap left by bank credit has been complemented by transparent alternatives that help grant loans to companies that have productive importance in society and maximize customers’ savings.  Investors must be convinced before they agree on putting a large sum of money into a new business venture. Business owners quickly acquire capital from investors who aim to achieve a mutual benefit.  Securing finance for a new business is often the toughest task because it involves perfect planning and strategy. The business owner should possess convincing power to make investors believe in the business idea and present it as a mutual investment. Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Outsource - Complete Controller

Entrepreneurs work tediously to ensure their businesses grow while remaining stable. Their workload can be double that of the average working person. They strive to keep costs low and revenue high. However, the former presents many issues that may be solved by outsourcing.

There are certain things that entrepreneurs can outsource. Seven of the best areas to utilize outsourcing in are mentioned below. Check out America's Best Bookkeepers

  1. Administrative task

Administrative work requires a lot of time. Updating files, tracking down and replying to emails, organizing calendars and other such work are all essential tasks, while sometimes bothersome. For these tedious tasks, hiring a virtual administrator can be useful. This may save the entrepreneur a great amount of time and effort. Some of the tasks that can be outsourced to a virtual administrator include:

  • Data entry
  • Managing inventory lists
  • Email replies
  • Organizing calendars
  • Updating contact lists

These are just a few of the tasks that can be handled by a virtual administrator. It is up to the entrepreneur to decide which specific tasks to outsource. It is wise to only outsource those tasks which must be completed daily and consume more time.

  1. Travel arrangements

Some businesses require a great deal of traveling. Entrepreneurs may make travel arrangements on their own, which can be a burdensome task to add to their already heavy workload. Arranging travel plans and itineraries is no small task. Outsourcing travel arrangements saves valuable time and effort. Some tasks related to travel arrangements are mentioned below:

  • Finalizing travel dates and times
  • Looking for the best travel deals
  • Arranging pick-up and drop-off from the airport
  • Finding out the best hotel
  • Transportation Check out America's Best Bookkeepers
  1. Editing and proofreading

Content development and creative writing require the daily devotion of time and effort. Blog websites must publish posts daily to maintain traffic. Entrepreneurs operate through these sites to generate more business. The content must be 100% authentic and must be easily digestible by the consumer. Editing and proofreading consumes a lot of time and must be done by an experienced and reliable editor. Outsourcing the work of editing and proofreading can be an easy alternative to help bloggers save time. Other content-related tasks that can outsource are as follows:

  • Proofreading
  • Editing
  • Formatting
  • Copywriting
  • Image Editing
  1. Research

Some businesses require frequent research. This task is not for everyone. Researchers are highly skilled and compensated well. While entrepreneurs must be self-sufficient, outsourcing research work to a freelancer or virtual assistant can help lighten their load. Check out America's Best Bookkeepers

  1. Accounting

Efficiently managing finances and accounts is essential for running a successful business. Bookkeeping should be assigned to an expert accountant. As accounting and bookkeeping require skill and accuracy, it is important to choose a professional who knows the job well. If one single detail is missed, the integrity of the whole document is threatened. Entrepreneurs must also deal with financial matters, such as taxes and completing the legal requirements for their business. Therefore, outsourcing accounting and bookkeeping is a viable option to save time and money.

  1. Payroll

Entrepreneurs often hire in-house staff to handle paychecks on a monthly or weekly basis. Payroll staff must keep track of salaries and calculate other pay-related details. This can become especially challenging when a company has many employees. Outsourcing payroll management may be a helpful solution to expedite this process. 

  1. Social Media

As simple as it may seem, managing social media accounts is a technical and tedious job. In today’s digital era, entrepreneurs depend on social media to generate more revenue and promote their brand. Digital marketers manage social media accounts to engage with the public and exercise skills when managing brand awareness. Entrepreneurs might consider outsourcing their social media management to engage with their customers while freeing up their staff to focus on other tasks.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Home-Based Business - Complete Controller

A home-based business model is not a one-fits-all plan. Not everyone can handle and manage the daily operations from home. A home-based business cannot flourish until the right business is selected and the working norms are correctly established. Plenty of business owners believe that they would get healthy returns without any significant investment of time and money if they became home-based.

However, to achieve success, you need to carefully look at the business you are running and see if the model is practical enough to be implemented with the people you are working with (employees, executives, and business partners) and will you be able to deliver on your promises to the customer like this. Look at the facts and understand your business needs and then make a decision. Here are ten reasons you should start a home-based business.

Flexibility

This might be the most significant factor that leads to people starting a home-based venture, and why not? You are the boss, and you are free to move and come as you please. You can manage your work and be with your family and spend some time with them. There are no limitations on your work hours, and the best part is, take a vacation whenever you want. Check out America's Best Bookkeepers

No Corporate Politics

People behave differently when they are around their bosses, trying to please the BIG MAN to climb the corporate ladder. With a home-based business, you don’t need to face these circumstances and no in-person interactions. You can dress how you want as the boss, and it’s ok.

Be The Boss

The best part about being the boss is BEING THE BOSS. There is no one above you in the company who keeps reminding you of your monthly goals, sucking the life out of you. You can change your perspective by starting your own business and answering only to yourself and your customers.

Reduced Pressure

You are normally are managing the daily commute, conducting meetings with everyone, paying rents for the facility, keeping track of the property tax, and arranging transportation for employees. Home-based businesses help you get rid of all that, just like that. Check out America's Best Bookkeepers

Less Expensive

Home-based businesses are known for being cost-effective. As entrepreneurs, people often want the most returns with minimal investment, and perhaps, home-based businesses are the way to go forward. In a home-based business, you can start with only a $5,000 investment, and the only necessities you need are a laptop, printer, phone, and a reliable internet connection.

Activity Dissatisfaction

Your employees might prefer to work home-based because they might get overwhelmed by more experienced employees’ skills and become dependent on others’ contributions to perform better. They also might get demotivated with the company not making any effort to keep the morale high. The home-based business helps you get rid of this activity.

Advantages of Home Based Business

There is no denying that home-based businesses offer tons of help, especially in getting rid of everyday workplace grinding. It allows the entrepreneurs of today to use telecommunication to benefit and make good use of it. Here are some of the key benefit of a home-based business:

Tax Benefits

With a home-based business, you can quickly get rid of some of the most significant expenses for your venture, such as software bills, property tax, loan, insurance, etc. Check out America's Best Bookkeepers

Learn Something New Everyday

When you’re home and managing your business interacting with your employees, you can open a new tab and watch some tutorials learning new stuff and expanding your skillset. Not only will this make you a better individual but also increase your worth in the market.

Multiple earning Streams

As now you have more time for yourself, you can always spend searching for new business opportunities and deciding what other regions you want to explore. Creating multiple earning streams can give you exponential returns and expand your business.

Conclusion

To put all points in one, home-based businesses will be the new norm of the future where people will be handling businesses worth millions from home. It will give people the freedom and flexibility to work how they see fit and eliminate the nine to five routine.

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Coupons - Complete Controller

Both customers and entrepreneurs have been utilizing coupons to gain a market advantage. In this way, coupons are a win-win situation that both organizations and the consumer profit from. Customers feel that they are saving cash by using coupons, while entrepreneurs take advantage of the increased brand awareness to promote their products or business. Check out America's Best Bookkeepers

For Business

Research has demonstrated that a business’s sales increase exponentially when they offer at least a 20% discount on any item. This is due to the irresistible power of a coupon. Additionally, the name and address of the company are noticeably printed, providing extra promotion. Providing coupons helps the individuals view the brand as a “thrifty choice,” which leads them to the website in search of further deals.

Advertising through coupons is also very persuasive in drawing new customers to your store. When a new customer visits you, whether it is in-store or through the website, there is an opportunity to turn them into a regular customers. Regular customers are significantly valuable due to their repeat business. Check out America's Best Bookkeepers

Occasionally, a product may be hard to move. This could be due to various reasons, including inappropriate costs or poor marketing. By offering bargain sales through coupons on these products, you may be given the opportunity to be re-introduced to consumers. While sometimes the deals you offer may cause your finances to take a hit, marketing professionals advise that it is still advantageous to offer these coupons to increase the number of your customers and products sold. Coupons also have an astonishing mental impact on customers, attracting them to your brand.  A discount sale encourages the purchaser to feel as though they have achieved something, a “Killer deal!” which enables them to justify their spending. Through coupons, business owners are providing something valuable. Instead of persuading a buyer through basic advertising, the business owners offer a great deal, which prompts the customer to check out the product for themselves. Subsequently, numerous customers consider coupons to be an act of kindness and generosity instead of an assertive and over-bearing attempt to sell the products. Check out America's Best Bookkeepers

For Customers

Due to coupons provided by companies, more customers are able to afford more products. Coupons are not only beneficial in the retail market but also in the restaurant industry. A discounted meal allows the consumer to try out new food that they would not have otherwise been interested in. The logic behind this method for some consumers is that if they do not like the food, they didn’t break the bank over it. Coupons allow customers to get more for their buck, and especially now, customers appreciate the discount. 

In the supermarket industry, coupons allow customers to purchase products that they normally buy monthly, in bulk. This is helpful in saving money long-term. Coupons are particularly useful for boxed and/or canned foods that have a longer shelf-life. Even though it may be a rather tedious process, comparing the prices of items purchased through coupons to those purchased at full price will enable the consumer to know if the coupons have really been successful in saving money over time. Coupons also allow people to stock up on items needed for emergency preparedness. Additionally, they facilitate consumers to more effectively ration and extend their monthly or weekly budget. The cash that is saved through using coupons can be diverted towards savings goals, such as a mortgage or vacation funds.

It is easily concluded that coupons are beneficial for both business owners and their customers. Therefore, you should consider the ideas mentioned while promoting your business or saving money on products and services.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Business Partnership - Complete Controller

Business partnerships are common among entrepreneurs wanting to start a business. Business partnerships are not the same as those who will invest and share in profits. A business partnership means that the partners are equally responsible and involved in the business. While having a business partner can be beneficial, it should be carefully considered because statistics show that 70% of business partnerships dissolve and, in many cases, ultimately cause businesses to collapse in the wake of the partnership failure. Here are seven business partnership problems and how to avoid them.

Partnerships with Friends or Family is Risky

While some family-owned and operated businesses succeed, others may cause rifts within the family if the partnership doesn’t work out. These rifts are also true of those partnerships started with friends. There can be too many differences to overcome and end the relationship if things don’t work out. Partnering up with friends and family can be a great reward or cause devastation, so if you contemplate a partnership with a friend or family member, you need to try to be as sure as possible that you can trust the other person. Check out America's Best Bookkeepers

Unequal Commitment

If you are determined to have a partner, you need to make sure the other person will be very committed to the business and its operations. If you don’t carefully consider your partner and get into the business and find you can’t rely on your partner or are pulling more than your share of the business’s weight, this can be harder than if you didn’t have a partner. The best way to handle this is to either decline to partner with the person if you know their commitment level is questionable or have a legally binding contract drawn up by a business lawyer. This contract will protect you and your partner should either of you fail to hold up your end of the partnership.

Lack of Success

Building a business requires patience and perseverance. No matter how many people are involved in the business operation, there can be a lot of stress involved in running a business. Some businesses will succeed immediately, and others will take time to build, but it can cause stress and ultimately damage the partnership if your business is not succeeding. If one partner continues to work towards success, and the other partner is buckling under the stress, it can cause the partnership to fail. Partners will need to find strength in each other while they continue to work towards success. The key is for both partners never to give up and to work through the difficulties. Check out America's Best Bookkeepers

Different values

Many partnerships do not succeed because the partners are not aligned with the business’s values ​​or goals. If you can’t agree before starting the business, that is a strong sign. You should not even enter into a partnership. However, there are situations where the partners are not aware of these differences until the business starts to evolve. As the differences arise, they must be worked through for the business to survive. If they can’t be resolved or agreements cannot be made, it may be a good choice to end the partnership.

Long-Term Goals

Long-term goals are important for any business, but they need to be agreed upon when working in a partnership. This set of goals makes it especially important for all partners to be involved in developing the business plan. The business plan will include short and long-term goals and many other aspects of the business that will help identify where partners agree and differ. Having long-term goals and a great business plan will help avoid the partnership’s failure or business.

Personality Clashes

Sharing risk and having a set of complementary skills are some of the great advantages of partnerships. Still, if the partners’ personalities do not fit together enough, the business may be in trouble. Disagreements between partners are expected, but if personalities clash and are not fitting together, this could result in the ending of the partnership, the relationship, and possibly the business. The key is to be sure you truly know and understand your partner before you ever enter into a partnership with them. Check out America's Best Bookkeepers

Risk Tolerance

When we are individuals, we may take more risks than if we are with a partner. However, you should never enter into a partnership in which your risk tolerance doesn’t compare. If one of you is willing to take more risks than the other, that can kill the business right from the start. Therefore, you must agree upon the business’s risk tolerance before entering into a partnership. If you can’t agree, it is probably best if you don’t partner up.

Conclusion

If you are going to start a business with a partner, there should be no surprises once the business as far as the partnership is concerned. However, some personality traits, ideas, or differences of opinion can cause a strain between partners, and you have to work through it. A business partnership is just like a marriage in that there will have to be mutual respect and compromise. Build trust and work together, and you can build a successful partnership and business.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers