Author: Complete Controller

One of the crucial reasons why you should engage in social media marketing is the opportunity to be present in thriving, activity-packed communities. Whether on Twitter, LinkedIn, or Facebook. Prepare for a rise in your population in the coming year. Here are some of the six tips for improving your social media marketing.

1. Make information and entertainment a priority (stop talking about sales)

Nobody likes to see social media updates that sound like product advertisements. No matter whether your platform is Facebook, Twitter, YouTube, Instagram, Pinterest, Snapchat, TikTok, or any combination of other channels, focus on getting your updates on social networks focused on the brand and the story, and not on sales.

You can link to current news related to your industry, share trivia and tips, create entertaining videos that open your brand values, and create interactive contests for people to participate in. Informative, helpful, and entertaining content further builds customer loyalty than endless product mentions and sales offers. 

2. Use the latest social media trends

Your business needs to leverage the latest social media developments to stand out in customer feeds to build awareness and showcase your brand. Some of the critical trends shaping the social media landscape are: 

• • Augmented reality

Social media technology continues to evolve, especially the use of augmented reality (AR). Brands are picking up this trend by creating AR filters to promote new products, launch creative campaigns, and increase user engagement. Consider incorporating augmented reality into your social content to interact with customers, entertain them, and attract new subscribers to your business. 

• • Targeted social networks 

Not only are more and more people participating in significant social, cultural, and environmental movements on social media, but they also expect their favorite brands to join them. To connect with today’s conscious customers/users and give them a reason to follow your business, your business should consider incorporating targeted initiatives into its social strategy. Whether sustainability and environmental awareness or distraction and inclusion, you’ll want to create social messages that match what’s most important to your audience. 

• • Social commerce 

While customer engagement is critical, your social media should also deliver results. Social media platforms are constantly evolving to make them more user-friendly. The latest built-in commerce features on platforms like Facebook and Instagram make selling directly to social media easy. Consider using these social commerce features to attract new customers and drive them along the buyer’s journey.

3. Keep your followers closer and your competitors closer

What are your competitors doing on their social media? If you don’t know, now is the right time to find out. Identify your top 3 competitors and do your research to find out which social media platforms they are on, how many fans and followers they have, what hashtags they use to increase reach, and what types of content and advertising strategies they are pursuing.

4. Understanding, segmentation, and target customers.

Do you know who your main demographic is? To be successful on social media, your strategy must be based on a deep understanding of your audience. Examine your sales data and web analytics to understand your target audience better and segment it based on their wants, needs, and preferences. 

5. Prioritize maintenance and communication daily

In addition to entertainment, social media has become a significant customer support channel for businesses. Consumers are turning to social media to communicate and interact directly with their favorite brands and quickly resolve their questions and concerns. The comments and posts they leave on your social platforms are publicly available. 

6. Focus on social media metrics

Social media marketing can deliver impressive results for your eCommerce business. You need to closely monitor your social media metrics to determine if your strategy is hitting the mark. Your goals will help you choose the right metrics to track – for example, if your goal is to improve conversions on your site, you look at metrics like social traffic and conversion rate to determine if your posts, ads, or influencer content were successful. …

Social media metrics help you understand ​​the state of your online presence and its impact on your business. While the metrics you select will depend on the specific goals and needs of your business, here are some essential metrics that can help you determine the success of your social media strategy. 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.

In contemporary times, individuals find themselves increasingly burdened by debt, often due to a lack of financial literacy and a tendency to accumulate seemingly inconspicuous debts that, when combined, burge into substantial financial liabilities. Traditional savings accounts no longer offer noteworthy returns, dwindling to a mere 0.01%. It translates to a negative interest rate of minus one percent for a savings balance of one hundred thousand dollars.

The irony lies in that the United States, known for its financial prudence, boasts a collective savings exceeding 407 billion dollars, equivalent to nearly fifty thousand dollars per household. Conversely, a staggering eight million Americans are saddled with loans, collectively amounting to ten billion dollars, averaging twelve thousand dollars per loan. This reduced average is attributed, in part, to the tightening of lending standards in early 2021.

A careful examination of financial alternatives is strongly recommended for those who have managed to accrue savings while carrying a loan. Despite the current low-interest environment, where loans can be secured at three percent for amounts like fifty thousand dollars, it remains essential to recognize that the cost of a loan surpasses the meager yields of a savings account. This financial paradox underscores the importance of informed decision-making to effectively navigate the intricacies of debt management and wealth accumulation.

The Toll on Your Savings

The strain on your savings extends beyond the exceptionally low interest rates. Additionally, there’s the imposition of a toll in the form of the capital gains tax. Should your savings and investment account balance exceed fifty thousand and four hundred (per person), a yield tax of 1 percent on the difference awaits. Compounding this, the diminishing value of your savings due to inflation adds another concern.

It’s disheartening to witness your savings languish or incur a toll, especially when there’s an alternative: leveraging a portion of your savings to expedite your loan repayment.

The Wisdom of Repayment

If you find yourself solely in savings, even a low-interest rate proves more beneficial than no interest. The reasoning is simple: despite prevailing low loan interest rates, the cost of borrowing typically surpasses the returns from your savings account. Consider this perspective: even the most affordable loan, with an interest rate of three and a half percent on a fifty-thousand-dollar loan, means you’re paying more than your savings generate.

Therefore, engaging in borrowing and saving can be counterproductive, as it hinders the timely reduction of debts and capital accumulation. It’s akin to delaying your financial progress.

While advocating for prudent financial practices, maintaining a financial reserve is highlighted as a crucial component. If you allocate some of your savings toward repaying your loan, ensure you retain sufficient funds for unforeseen circumstances. We recommend setting aside at least ten percent of your monthly income and establishing a buffer equivalent to three month’s salary to cover unexpected expenses. It is a preventive measure that safeguards against the need to resort to loans again, such as in the unfortunate event of a car breakdown.

In essence, the payoff from strategic financial management extends beyond immediate gains; it contributes to long-term stability, minimizes financial stress, and paves the way for a more secure and resilient financial future.

Prioritize a Debt-Free Future

In essence, maintaining both a loan and savings can lead to financial losses, prolonging your stay in debt unnecessarily. Consider early and substantial repayment of your loan, enabling you to swiftly attain a debt-free existence and commence the journey of capital accumulation.

Look for flexible repayment policies that allow you to repay additional amounts at your convenience without penalties. These invaluable insights are some of the most practical tips available online today, guiding you toward a more secure and prosperous financial future.

Conclusion

In conclusion, the current financial landscape reveals a stark contrast between the growing levels of debt and the potential for financial security through savings. Many individuals accumulate small debts, often underestimating their cumulative impact as they grow into substantial financial burdens.

The key takeaway is to avoid the paradox of holding both loans and savings. Instead, opt for a strategy that promotes financial freedom, encourages swift debt repayment, and lays the foundation for sustainable wealth-building. By following these principles, individuals can navigate the financial landscape more effectively, making informed decisions that lead to a secure and prosperous future.

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.

Our dependence on energy increases daily, and as energy-dependent technologies advance, ecologists continue to search for ways to conserve the environment. Focusing on energy-efficient appliances is a way to achieve this goal.

Your monthly electric bill may not indicate the specific use of each appliance in your home. However, if you are interested in the outage, you can request a list from your local power company. But about 30% of the charges on your statement come from your devices. This energy use is why the government and most appliance manufacturers encourage consumers to replace standard equipment with new energy-saving equipment.

HVAC Systems

Capacity relates specifically to HVAC systems (as well as smaller items). For example, small coolers may run for extended durations, reducing efficiency. One could be inclined to go more significantly, which may pose efficiency issues because giant air cooler systems cycle into and out of very constantly. A similar idea applies to specific other equipment: one may increase capability by regularly laundering a heavy workload of clothing, but a giant machine isn’t worth it if you never have enough dirty clothes to fill it. The optimal size for a piece of equipment meets your usage requirements.

Energy-Saving

Dishwashers need to have energy-saving options. If somehow the utensils become slightly filthy, a gentle clean will suffice; a full-powered washer would waste too much energy production. Use an “eco” setting to save hydropower while still cleaning thoroughly when necessary.

A comparable choice may exist in washing machines; although it isn’t essential at this point, you may create your own “power conservation” option by using a coolant and a “lesser amount” or “hand wash” option.

More Eco-Friendly Devices

Many individuals evaluate the initial price of proposed equipment, ignoring the “concealed” costs of maintaining the item during its lifespan.

More eco-friendly devices are frequently more costly than their non-energy-efficient counterparts. Furthermore, the decreased energy requirements—for example, High-Efficiency freezers use 20% less energy than standard refrigerators—will save money over time. PACE funding is available for energy-efficient equipment. One may pay down the value funded through time as part of one yearly taxation with this method, eliminating the initial expense of your apt update.

Efficiency Guide

High Efficiency approved devices receive a specific stamp; however, other appliances carry an Energy Guide logo. Such bright stickers give the appliance advanced analytics, such as height, design, and anticipated yearly overhead costs and power usage.

The efficiency guide stickers clarify the money you may pay or save on electricity over the equipment’s lifespan, even if they reflect increased response rates.

Contemporary Refrigerators

Contemporary refrigerators are available in a variety of models and capacities. Per the DOE, refrigerators with doors at the beginning or end are often more productive than corner doors. However, while convenient, additional amenities such as frost machines and water coolers increase the refrigerator’s electricity usage.

Assess the Area

To ensure your new equipment will work, assess the area it will take up. For example, ensure there is more space to properly unlock the door, the cover, and the room for airflow.

Selecting Size and Style

When selecting size and style, purchasing the more costly, powerful model may ultimately benefit your cash in many circumstances.

How to Adopt Electricity Devices

Refunds, limited mortgages, and other reward plans are available to motivate purchasers to adopt electricity devices. Employ Energy Star’s Benefit Finder to look for refunds in your location.

Comparing the Efficacy of or Total Electricity

Exciting news! The Federal Trade Commission now mandates a super cool orange logo on all utility hookups that displays the projected electricity usage of each device. To compare the energy requirements of different brands, simply look for the Energy Guide logo. It’s a friendly and informative way to make smart choices and reduce your carbon footprint. You got this!

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.

Is investing in gold a worthwhile venture? Given the current low-interest rates on savings accounts, merely holding money in one offers little opportunity for wealth accumulation. Consider this: If you had invested $10,000 five years ago, the potential returns could have been substantial.

Keeping your funds in a traditional bank account yields minimal returns. However, the success of your investment should align with the level of risk you are comfortable taking.
Understanding the diverse legal landscape across states is crucial. Every state has its own set of laws, and it’s vital to assess whether these facts align with the regulations in your specific state. This analysis isn’t meant to make the investment process overly complex but rather to provide insights into the safety of your investment and your current financial position.

Invest in Shares

All money put into an equity index fund is invested exclusively in stocks whose prices rise and fall in lockstep with the fund’s return.

When you buy stock in a firm, you become a partner in that company. You are entitled to a share of the company’s profits as a partner. You can also participate in any claim of rising prices.

Shares are the most acceptable method to put your money to work. Historically, equity has been the asset class that has produced the most substantial long-term returns. Over the last 100 years, equities have averaged 8-10 percent per year. It may appear insignificant, but the interest-on-interest effect produces excellent long-term consequences.

Mutual Funds

Mutual fund returns are split among risk-free interest rates and stock market returns in a predetermined proportion. If the stock market performs well, mutual funds that invest more than inequities will outperform those that take fewer risks.

Investment is a secure and profitable option. When you put money into a mutual fund, its team of professionals invests it in various securities and assets. The sort of securities in which the fund invests your money depends on your selected fund.

For example, one can invest in equities, fixed-income, or index funds. An investment company invests in equities, a fixed-income fund in interest-bearing investments; an index fund invests in such a way that your return tracks a specific index, and so on. If you’re under 50, we suggest investing in equity or index funds since they offer the best long-term returns.

Housing Investment

Investing in a home is a prudent long-term decision and often constitutes a significant financial commitment. Proceed with caution, ensuring that you don’t overextend financially. It’s essential to strike a balance where you can comfortably weather challenges and uncertainties.

While it’s tempting to view your home purely as an investment, it’s crucial to prioritize your comfort and envision it as a place you can happily reside in for the long haul. The more you make your home a personal haven, the greater the satisfaction, regardless of its potential return on investment. Focusing solely on price fluctuations may not provide a comprehensive understanding of your property’s overall return in real estate.

Consider the broader picture, factoring in rental income, potential appreciation, ongoing maintenance costs, and the wear and tear on the property. Successful navigation of the housing market requires a thoughtful approach that looks beyond immediate price changes and considers the sustained financial viability of your investment.

Saving Account

Investing in a conventional savings account often yields minimal returns, barely surpassing a few percentage points in today’s economic climate. While high-interest accounts may offer returns of up to ten percent, it’s essential to note that they fall outside the coverage of deposit guarantees, exposing deposited funds to a higher level of risk.In contrast, a typical savings account accrues interest at less than 1% annually. To illustrate, if $10,000 were deposited in such an account five years ago with a 0.1% annual interest rate, the current balance would be $10,050. It’s evident that the returns from a standard savings account, even over an extended period, may not keep pace with more dynamic investment options, prompting a consideration of alternative avenues for optimizing financial growth.

Investing in Gold

Five years ago, $10,000 could have purchased approximately 7.5 ounces of gold, equivalent to around 233 grams. However, the current market value for selling this amount of gold is $8,170, indicating a loss on the initial investment.

While investing in gold is often considered a haven, it comes with its own set of nuances. Gold is generally seen as a reliable store of value, especially during unforeseen events that may impact traditional investments. However, it’s important to note that gold, unlike some investments, doesn’t generate any income; it essentially remains in storage, incurring associated costs.

The decision to invest in gold should be approached with a balanced perspective, considering its stability as a long-term asset and its lack of inherent income generation. It may be suitable for a portion of one’s investment portfolio, but a comprehensive strategy should consider the individual’s financial goals, risk tolerance, and the broader investment landscape.

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.

Predicting your company’s financial future in economically uncertain times seems challenging. But with a good forecast and budget, you can get reliable insights about your company’s future. But how do you do that now, make good forecasts and budgets? A successful business relies upon forecasting the future; many successful business owners are very good at forecasting future problems to solve such issues. There are many ways to tackle such problems and create an excellent budget for your business. Still, it would help to make the correct estimation according to your business requirement and its funding. After knowing what company you are doing, you can forecast the expenses for your business, but always remember to keep something extra.

What’s in a forecast depends on the type of budget or forecast you want to create. That can be anything.

So first, ask yourself what you want to budget: Do you want to know whether you can live off your company in the coming months? How will the stock develop? How many customers will you have in five years? How much external financing do you need next year? Determine what you want to know and for what period, and then get to work. Frequently made forecasts and budgets for companies are:

• Investment budget
• Financing Budget
• Results budget
• Liquidity Budget
• Forecast future profit
• Laying a good foundation

Making a forecast or budget is a challenging job. It would be best if you examined how your company has performed as closely as possible and estimated whether you could continue in this direction. Find out which developments in the near or distant future could affect your company. What are the expectations within your company, in the region, your industry, the market, and the overall economy? Try to include this in your budget or forecast. If necessary, ask a financial specialist to help you with this. After some expert opinion, you will slowly be able to understand and make the right choices in the future.

To Make Measurable

To find the correct information, you make the most important values within your company measurable. You choose your parameters, and based on that, you determine the course of your company. That way, even after making the forecast or budget, you can keep a close eye on whether you are on the right path, as you predicted.

Business Software Assistance

A lot of business software helps you make your company measurable. Think of CRM systems for contact with your customers (prospects, leads, and contact details), ERP systems for your production and stock, and your (online) accounting program where your income and expenses are processed. You can also link all these programs to communicate with each other, and you do not have to enter or type numbers yourself. It gives you much insight into your company, and you can make better decisions. This process is also known as chain optimization.

Would you like to know more about chain optimization and how you can apply this?

Reports of Your Data

You may already get an excellent overview of all data from your company in your accounting program. You can also use special reporting software for this. These programs are especially good at providing insight into your data. With a dashboard that clearly shows the results of your KPIs (Critical Performance Indicators), you can see how your goals are progressing at a glance. Presenting your figures to other parties, such as investors or your accountant, is also helpful.

As soon as you have insight into your self-selected variables, acting on them will help. Consider what you will do once your profit or turnover reaches a certain level or how high your costs can be. You can also make these decisions with a bookkeeper, accountant, or financial advisor.

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.

Evolution of Virtual Reality

The reality, existing in parallel with the usual way of life, was described in numerous science fiction novels and films of the 20th century. However, earlier attempts were made to look at familiar things from the other side. In 1838, physicist Charles Wheatstone described the principle of denoting the perception of depth and three–dimensional structure – stereopsis. The scientist created the first stereoscope based on his discovery – a device designed to perceive volumetric images. Wheatstone used a pair of mirrors positioned at a 45-degree angle to the viewer’s eyes. The physicist proved that the brain combines images of objects obtained from different points, making the object appear three-dimensional.

In 1935, science fiction writer Stanley Weinbaum published the novel Pygmalion’s Glasses. He talks about a particular device that made it possible to perceive an image with the help of eye contact and feel fictional objects to feel their taste and smell. In essence, Weinbaum describes something similar to modern virtual reality headsets.
The idea that people can communicate with each other without being physically in the exact location was thrown up by artist Myron Kruger in 1975. He founded the Video place laboratory where the user was placed in an interactive environment. A camera behind him recorded a person’s movements and immediately transmitted them to the projected silhouette. It gave the observer a sense of presence even without direct tactile feedback.

Having paid attention to the promising industry, IT giants began to offer their innovations in the field of VR. Facebook, which had no significant products in 2014, acquired Oculus for $ 2 billion. It is believed that Mark Zuckerberg became interested in virtual reality around this time, which he would later propose to insert into the concept of the metaverse.

Users often confuse virtual reality with augmented reality. Augmented reality is created as an overlay of virtual objects in the real world. It can complement three-dimensional objects or create new ones based on them. As a rule, augmented reality or AR exists about a specific object, terrain, or position in space.

Examples of AR are the display of the flight path of the puck in hockey broadcasts and 3D visualization of furniture in the room using a smartphone camera. In 2016, the popularization of the technology was facilitated by the release of the game Pokemon Go, in which gamers using a smartphone could project fictional animals – Pokemon – into the urban landscape.

Virtual Reality Perspective

According to futurist Bernard Marr, virtual reality is the key to turning information into experience. It’s no coincidence that so much has been said about games because they are one of the driving forces behind the industry. Many people are ready to spend money on the most impressive and exciting entertainment. It is confirmed by data from Goldman Sachs analysts, who estimate that the virtual and mixed reality market will be valued at more than $ 30 billion in 2025.

At the same time, the lion’s share of the money – about $ 12 billion – will be circulated in the gaming industry. As the founder of the Sandbox VR start-up, Steve Zhao, notes, users will believe in the video games of the future, as if everything shown is happening in reality. It will allow gamers to experience their moments in games for real and to interact even more with other people.

Virtual reality will change communication since, for a full-fledged contact, you will not need to be direct with the interlocutor in the exact location. VR chats and equipment will scan users, record their movement and speech, and transmit them over long distances. The need for the live presence of employees at the workplace will disappear since they can always be gathered in one virtual room. Design, architecture, and modeling projects can be visualized and transferred into a virtual 3D format.

The development of technology will necessarily be associated with new problems. There may be a risk of hacking the user while he is in the virtual space. There are fears that the interaction with virtual reality will be so vivid and memorable that users will not want to return to the real world.

Also, Marr gives a downright dystopian example in which people are constantly connected to machines that paint them a rosy picture while the world – as in the “Matrix” – is engulfed in war. The futurist believes that alternate reality will have pitfalls, but the potential benefits outweigh all the disadvantages.

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.

Engaging professionals can be a good idea, but some ifs and buts exist. However, there are also some pitfalls and disadvantages that you should know. For example, it is not how it works to pick a random agency, transfer money, and then sit back, expecting the customers to come naturally.

It is essential to avoid these mistakes that can be common among entrepreneurs.

Careless Selection

You would expect the best online marketing agency to be in first place in Google so that you automatically end up with the best parties via one search. So, there’s something in that, but it’s not entirely true.

If you decide to outsource your online marketing, the first step is thoroughly researching the proper party. Does the agency you found know your industry? Do they know what is essential to your company and your customers? For example, an agency from Limburg may be less able to appeal to your customer base if you operate in the heart of the country.

Let various agencies provide a pitch, and do not just choose the lowest quote. Hiring an agency for little money that knows nothing about your sector may be cheap, but it is useless to you.

Trusting Your Marketing Agency’s Expertise

Your competitor’s marketing strategy may not work at all. Many business owners mainly do it when they hire a marketing agency to tell that agency how to do their job. It could very well be that an Instagram campaign becomes part of the marketing strategy the agency designs for you. However, try not to meddle in the process constantly, and certainly don’t impose demands because someone else is doing it.

Incorporating After-Sales Excellence

Many marketing agencies deliver campaigns that guide the customer journey from the orientation phase through the sales phase. However, as an accomplished entrepreneur, you also know that the after-sales process is at least as necessary for your customer satisfaction and, ultimately, for recurring business as the acquisition process. So, ensure your aftersales policy is also included in your marketing strategy.

Ensuring ROI: Setting Clear Performance Agreements with Marketing Partners

You spend much money on a good marketing strategy, with the end goal to ultimately have more customers, more transactions, and therefore more profit. The investment should pay for itself. Yet few entrepreneurs make accurate substantive results agreements with their marketing partners.

The risk is that the marketing agency believes you have met all the agreements but do not achieve your objectives. That’s a waste of money; you’ll have to hire a new agency to redo it. In addition, you will end up in a legal conflict with the marketing agency that did not meet your expectations. So clearly record the result agreements and ensure you understand what needs to be delivered. If necessary, link the fee you pay directly to the campaign’s effect that they design for you.

Maintaining Independence

You are still an independent entrepreneur because you like to control yourself and want to run your own company. It also means you should not become too dependent on the parties you hire. Suppose you don’t know anything about marketing, and everything is thrown over the fence at an agency.

In that case, it becomes almost impossible to stop working with that agency after a while. So, avoid that dependence and know what’s happening and how campaigns run. Be informed, keep a finger on the pulse, and ensure you can outsource all activities to other parties. It is how you keep your business operations healthy.

Conclusion 

In conclusion, adopting a strategic approach to hiring and collaborating with marketing agencies demands considerable effort and attention to detail.

By navigating these aspects thoughtfully, entrepreneurs can maximize the impact of their marketing efforts and contribute to their businesses’ sustained growth.

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.

Background Information

Creating a business plan is a fundamental step that lays the groundwork for your entrepreneurial journey. This document serves as a roadmap, guiding you through the various aspects of running a business. We begin with the company profile—a comprehensive overview detailing the essential characteristics of your organization. This includes its size, the nature of the business, and the range of services provided. Additionally, we delve into the company’s history, exploring its origins and evolution, as well as its current geographical location. Finally, we examine the organizational structure, analyzing how the company is organized, the roles of different departments, and the distribution of tasks among employees.

Mission

The mission statement encapsulates the essence of the business: what it stands for, what it aims to accomplish, and the core beliefs that drive its operations. Entrepreneurs are often fueled by a strong conviction that motivates them each day. It is vital to articulate this mission clearly, as it not only defines the company’s purpose but also sharpens the focus on what to pursue or avoid. By delineating what the company aspires to achieve, entrepreneurs can maintain a clear direction and avoid detours that do not align with their goals.

Vision

A compelling vision acts as a guiding star for any successful entrepreneur. It provides a clear picture of where the company currently stands and where it aspires to be in the future. This forward-looking perspective helps shape strategic decisions and motivates the team to align their efforts toward this common goal. The vision embodies aspirations that extend beyond immediate objectives, inspiring everyone involved to work collaboratively toward a brighter future.

Core Values

Core values represent the foundational beliefs that underpin the organization’s culture and ethics. Recognizing that excellence cannot be achieved in every area, it is essential to focus on what the company does best. These values serve as guiding principles that inform decision-making and behavior within the organization. By identifying the company’s strengths and core values, you create a strong identity that resonates with employees and customers alike, fostering loyalty and unity.

Objectives

Establishing clear objectives is a strategic necessity for any entrepreneur. These goals function as benchmarks that guide the company toward its long-term vision. When setting objectives, consider various facets that encompass the broader impact of the business:

• Social involvement: Understand that your company plays a crucial role in the broader community; embracing social responsibility is vital for sustainable success.
• Staff members: Your employees are your greatest asset; fostering a cohesive team ensures that business processes are executed efficiently and effectively.
• Quality: Define the standards of excellence your company strives to maintain, focusing on delivering unmatched value to customers.
• Markets: Identify specific markets that align with your company’s strengths. While it’s essential to stay true to your core values, be judicious in market selection to avoid oversaturation.
• Products and services: Clearly outline the products and services your company intends to offer, along with the rationale behind these choices, ensuring they meet customer needs and align with your mission.

Strategy

With a solid understanding of the company’s mission, vision, core values, and objectives, it’s time to pivot towards strategy—the blueprint for achieving your goals. This involves careful planning and consideration of how to navigate your path in a competitive landscape.

Analysis and Vision of the Future

Crafting a vision for the future involves envisioning how your company will evolve concerning the products and services offered and the markets served. Consider adjustments to production and purchasing strategies that will align with this future vision, ensuring relevance and responsiveness to market changes.

Competitive Analysis

It’s critical to understand your position in the marketplace, particularly in relation to competitors. Conduct a thorough competitive analysis, evaluating your company against rival firms across 30 key criteria. This process will yield insights into your market position and help identify strengths and areas for improvement.

Product or Market Combinations

Stay attentive to market trends and emerging opportunities. Regularly assess the relevance of your products to ensure suitability in a rapidly changing market environment.

Policy

Once you have a comprehensive understanding of the landscape, it’s time to delineate policies that will guide your operations.

• Organizational policy: Review the structure of your organization to ensure it meets future needs and supports strategic goals.
• Personnel policy: Develop clear strategies for attracting, retaining, and nurturing current and future talent, recognizing their essential role in your success.
• Environmental policy: Embrace a commitment to sustainability by integrating environmental considerations into your business practices, ensuring compliance with current regulations while promoting energy efficiency.
• Quality policy: With heightened societal demands for quality, it’s crucial to define the quality standards your company will uphold, establishing guidelines such as job descriptions and personnel regulations to meet these expectations consistently.
• Product policy: Clearly delineate the specific products and services your company will offer, ensuring they are aligned with both market needs and your overall strategic vision for the future.

Conclusion

In conclusion, a well-crafted business plan serves as the cornerstone of any successful entrepreneurial venture. By thoroughly understanding and articulating the components of the company profile, mission, vision, core values, objectives, and strategies, entrepreneurs can create a comprehensive roadmap that not only guides their operations but also inspires their team. The process of developing a business plan encourages critical thinking about the organization’s role within the community, its market positioning, and the importance of fostering a positive workplace culture.

As the business landscape continually evolves, remaining adaptable and responsive to changes will be crucial for sustained success. By regularly reviewing and refining their strategies—alongside a strong focus on identifying opportunities and managing competition—businesses can maintain their relevance and thrive in dynamic environments. Ultimately, the commitment to clear goals and a shared vision will empower entrepreneurs to navigate challenges while maximizing their potential for growth and impact. 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.

Unfortunately, we must conclude that young entrepreneurs often have too little time and financial resources to set up a real marketing plan. To overcome these shortcomings, here are five mistakes we often encounter in company marketing strategy that you can learn relevant lessons to reach your customers without too much detour.

Strategic Communication for Small Businesses

The evolution of communication – especially the Internet – has created various tools that help small businesses with often limited budgets to increase their visibility. Social media, for example, is a suitable means of communication for those with limited financial resources.

However, being aligned with communication technologies should not be an end, and it should certainly not detract from the goal of your business, which is to sell what you offer as a product or service. Therefore, you must continue focusing on your offer and judge whether it is tuned to your chosen communication medium. For example, if you open a retirement home, there are better ways to promote it than LinkedIn.

To make a good strategy, you must ask yourself the right questions: what does your offer look like? Who is it for? What resources do I have? What are my sales objectives? On the site of 1819, you will find concrete prospecting methods, such as e-mail, telephone conversations, informal networks, posters, radio or television campaigns, etc. If you find an answer to these three questions, you will know which communication medium is most relevant to your project soon enough.

The Profitable Path

It is often more exciting to win new customers than to ensure the satisfaction of existing customers. However, increasing sales is more accessible and cheaper thanks to your acquired customers.

Experts argue that customer retention of 5% of our customers can increase the average profit per customer by 25 to 100%.

Building a Dialogue with Customers and Avoiding Common Mistakes

Remember that your marketing campaigns aim to get consumers to buy. It is often helpful to start a dialogue with your customers to adapt your offer to their needs and know what appeals to them, what they attach importance to in their daily lives, and what resonates with them. A mistake that we often see arises when the message is redirected, sometimes even without considering the recipient.

For example, some companies tend to communicate their objectives. We all strive to provide the best solution to our customers and work as optimally as possible. Goals are indeed necessary to calculate your progress. Another fatal mistake is communicating about the competition. Responding to potential attacks from a competitor or trying to outperform him in spreading a message wastes time. Worse, it can discredit you—better focus on differentiating yourself from your competitors.

Smart Marketing

Perhaps not all your marketing actions yield satisfactory results, and then you are often tempted to go in a different direction.

Why not test your communication campaigns with a limited audience beforehand to avoid this shortcoming? Again, focus on a direct dialogue with your customers. Today, the most knowledgeable companies’ marketing strategies are based on their customers’ feedback rather than the features of their products. Think about how you can respond to that.

Note, by the way, that current communication speed makes it difficult to spread a coherent message. Be patient, take a global view, and take a long-term picture of your marketing strategy rather than rushing it.

Strategic Advertising

You could launch an advertising campaign in the right place at the right time and significantly expand your customer base. It is difficult for consumers constantly inundated with information to make an immediate decision.

Be realistic! Your contact will likely be an opportunity to make the consumer think about your product or service. Creating as many contact points as possible through a maximum number of communication channels is essential. The idea is to maximize your access to potential customers so that you’re visible when they’re ready to decide.

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.

Here are a few tips that can become your hobby or sometimes life hustle. The best thing about these hustles is they can also become your dream career.

Write a Book

This method suits experts in their field or those who have coped with a difficult life situation or know how to write stories. Sometimes, a book is written by blog authors with large audiences. You can publish a manuscript in two ways: through a publisher or yourself.

If you work with a publisher, it prints, promotes, and sells the book. The author receives a percentage of the sales. In the United States, author royalties are typically 10-15% for print sales and 20% for e-books. For instance, with a 10% royalty on the sale of 500 books at $100, you could earn $5,000.

If you publish yourself, you pay for the print run and promote and sell the book. This path is more complex, and suits experienced writers with a solid personal brand. But the income is also higher here.

Come Up with Something New

Elon Musk’s first business was Global Link. Its first product was an electronic directory of local businesses. They have combined a map of cities and the “Yellow Pages.” It was the first online travel guide to California.

A year later, Musk renamed the company Zip2, and after a while, he collaborated with 160 newspapers. In addition, his company developed online directories, connected corporate e-mail, and published news from publications on the Internet.

Open an Advertising Agency

Every product needs advertising – you can make good money in this area. For example, offer website promotion, contextual, or social media advertising, but you should be good at this.

There is also outdoor and outdoor advertising. If you need to buy expensive equipment for the first one, negotiate with the city authorities, then you can organize promoters to distribute leaflets for the second one.

In her fifth year, the psychologist and founder of the Upgrade course, Alla Klimenko, earned $20 thousand. She had her own advertising agency. Before that, she was a marketer in a publishing house. At school, she worked as a promoter, so she knew the processes from the inside. Her fellow students were employees of the company. Alla recalls that up to 500 people worked at some events, and she led them.

Buy a Franchise

One lucrative income-generating method is purchasing a franchise from a renowned brand. The franchisor grants the use of its trademark and assists in acquiring equipment, materials, staff training, etc. The franchisee gains access to a profitable business model, typically in exchange for a lump-sum fee and ongoing royalties.

In the United States, franchises like Subway, Mcdonald’s, and The UPS Store may operate without a lump sum payment. Entrepreneurs must find premises and cover additional expenses like equipment, employee salaries, etc. The payback periods vary:

Subway:

• Initial Investment: Varies (typically $116,000 – $263,000)
• Payback Period: 1.5 to 3 years

McDonald’s:

• Initial Investment: Varies (typically $1 million – $2.3 million)
• Payback Period: 2 to 4 years

The UPS Store:

• Initial Investment: Varies (typically $150,000 – $370,000)
• Payback Period: 2 to 4 years

Rent Out an Apartment

Dmitry Tomchuk, the founder of the investment fund Fison, believes that it is a mistake to think that renting out real estate brings passive income. Everything that you rent requires control, money, and repairs.

Yulia Kirilyuk, CEO at Althaus, says that renting apartments is profitable. But, to make tenants happy, the homeowner needs to think through everything to the smallest detail:

• Provide additional services, such as cleaning, parking space, etc.
• Make a professional renovation with functional design and quality materials; this will help keep the apartment in the premium price segment.
• Offer transparent terms of cooperation.
• Renting a one-bedroom apartment with renovations and appliances in a residential area in the United States can cost $700. The same apartment near the metro may range from $900. In the premium segment, prices are higher.

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.