No organization wants to face a data or information breach, but it can and does daily to businesses, as the headlines demonstrate. Data breaches do not just bring a significant loss to your business. They also harm its reputation by shaking your client’s trust. Many factors leave some companies weaker in branches than others.
Here are some well-known data security risks that can make a breach more likely. It would be best if you addressed some top threats to your business as soon as possible.
Social Engineering Vulnerabilities
One common vector for data breaches is deceiving workers into exposing permits or installing malware. Identifying phishing, social engineering vulnerabilities, and malware is essential education for every employee. IT needs to stay alert of the latest updates, be on the lookout for targeted outbreaks, and ensure employees know what to look for and what to do.
Unmanaged IoT Devices
In the future, the amount of unmanaged IoT devices will be expected to evade the number of managed devices in a typical company. These unmanaged devices do not contain endpoint and policy controls, making it very hard to know how they connect with the network. This lack of discernibility makes it impossible to see a company’s risk landscape.
Lack of Awareness
The most significant security threats businesses must address are “people” and their failure to appropriately find scams, frauds, infected links, and phishing emails that bring malware. Robust security awareness training will be a severe step in defending our data, information, and systems by showing them the threats that the worst cybersecurity practices present to the business.
Data Loss
To compete for the speed of innovation, data compliance scrutiny, and democratization, businesses should take a data-centric way coupled with data loss inhibition. Applying an information or data loss prevention method for data or information security ensures security teams and data holders can positively attest to the privacy and safety of businesses’ most valued asset: consumer data.
Personal Data Accessibility
Consider it or not, hundreds of organizations are saving your data, such as your date of birth, personal contact information, geolocation, income level, address at any given time, and more. Businesses should remember that clients have trusted them with this data or information. So, they should ensure that only the right people can access it through appropriate security protocols at the correct time.
Managing the Highly Complex Digital Business Environment
Data breaches occur because it is difficult to do anything constantly at scale. The top threat is unable to follow basic policies 100% of the time in a changing, growing, increasingly complex digital business environment.
Assailants are like ants in a house. No matter what you perform, they always find some alternative approach. You must handle complexity and implement basic security morals everywhere, all the time.
Insecure Applications
Applications frequently transmit and store complex data, often by APIs and third-party platforms, significantly growing their attack surface. Pending applications are the reason for most attacks, yet considerably more budget is spent on acquiring the network. Risk model your enterprise applications and ensure the most severe data threat is reduced or resolved first.
Untrained End User
The biggest threat is employees; phishing emails, setting weak passwords, downloading malware, and mishandling confidential data in apps are significant business threats. That is why it is essential to invest in ongoing training. You could have the costliest and most efficient security equipment, but it doesn’t matter if the end-user is the puniest link.
Consumer Trust in the Repository
Data breaches are self-assurance vampires: they down on misplaced- trust that customers place in unprotected data repositories. Like risks, most scientific methods can be dissatisfied with a recent complete asset audit and robust segmentation. Without understanding your primary asset and constraining the scope and threat of potential concession, you are defensive in the dark from all sides.
Lack of Data Access Oversights
Businesses mostly do not know what confidential data they contain and who accesses it. Remarkably, they grant contractors and employees more facilities than they require for their jobs. The more users have accessed, the more complex the risk, and organizations must consistently audit and classify their data.
Bottom Line
Data is everywhere, and information security is one of the main concerns of the technological world. In the business sector data plays a vital role, and data security is every business’s primary concern to maintain and build consumers’ trust.
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.
If you are starting a small business or are new to entrepreneurship, you must know the significance of digital marketing. Each brand, whether large or small, should ensure its presence in the digital realm by establishing an eye-catching website. Below are essential Search Engine Optimization (SEO) tips to take your company website to the next level.
Remember that your website is the first thing your prospective client searches on the internet. However, remaining in a top-ranking position for your prospects isn’t easy. You need an effective SEO strategy to ensure a top position in search engines and attract your audience’s attention to your brand or company.
By incorporating essential SEO tips, you can enhance the productivity of your website and digital presence. There are significant SEO guides that you must keep in mind while launching your company website. Following are the essential tips to escalate your website’s efficiency:
Select a Concise and Stimulating Domain Name
A lengthy and complex domain name is useless and produces no results. You must ensure a concise and attractive domain name for your company’s site. Remember that the domain name should speak the language of your brand; it should disclose some ideas related to the products or services your business offers.
The shorter the brand name, the more effective results it provides. Keep the name short, simple, and memorable so your audience may easily remember and search for it whenever they realize the need for your products.
The brand name is one of the factors that search engine crawlers look at to reflect your website and product. As a result, you should include a keyword in your brand name. Consequently, searchers will easily find you on the Google search engine.
Sketch Your Site Structure Before Launching It
A website without content is a useless approach. You need appealing and SEO-friendly content to build a robust digital presence. Content helps both humans and robots decide what your website is about. However, search engine bots must crawl content on your site to index it in the most suitable category and rank your page accordingly.
Make sure you outline your website structure and architecture before launching it. Decide what pages you need on your site. For instance, you can sketch the Homepage, About page, and Content page, and if you have plans to incorporate blogs, you can also create a Blog page.
You should sketch the site structure first to organize content accordingly and know how much content you need and how many web pages to include.
Create Content Before Launching and Set a Content Calendar
Content and SEO strategy go together. Keep in mind without content, no SEO strategy can show its efficiency. Make sure you create enough content before launching your site.
In addition, you also need to plan your content calendar so you can implement your content game plan consistently.
Set Up On-Site and Off-Site SEO
Creating engaging content is not enough for a strategic SEO approach. When you launch, you must include on-site and off-site SEO for the new websites. This includes selecting keywords and writing title tags, meta titles, and robust meta descriptions. You should also add images for analytical purposes.
A basic SEO strategy requires outbound links to more significant sites. You should implement an efficient internal linking tactic and do not forget to include social media buttons.
Off-page SEO actions enhance your position in search engine results. This is a bit difficult. Therefore, you need to focus on on-page SEO first. To ensure an effective off-page strategy, you can build a vigorous and stimulating website and create engaging content.
Use Tracking and Analytics Tools
Before your website goes live, make sure you learn about the tracking and analytics tools you can use to analyze your website’s success. As a beginner, Google Analytics may be the best option.
You can quickly analyze your customer behavior and conversion rates. By monitoring tracking, you can understand your audience’s likes or dislikes. For instance, if you find people giving more time to specific blogs or content, you should put more energy into focusing on that area.
Conclusion
Search Engine Optimization takes your business website to the next level. Your SEO strategy should be developed to ensure the best SEO practices for your site. Do not forget to incorporate these essential SEO tips when you launch your company site.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
It’s becoming more and more evident that the world is moving further toward digitalization, and the printing industry is already starting to adapt. Thanks to digital printing, the print marketing industry will reach a value of $300 billion by the end of 2024.
Preservation of Traditional Reading Preferences
Still, some would like to preserve the ways of old a little longer. A 2017 survey showed that 73% of people claimed to prefer reading a book or magazine instead of staring at a screen. 71% said reading about an event in the newspaper provided a better understanding than watching it in the news.
79% of people surveyed said they react to printed mail immediately, but only 45% admitted to doing the same with email.
Business Communication Through Printed Media
Many businesses also use printed mail to communicate with shareholders. One such company is Airbnb, which sends each of its shareholders a printed magazine discussing the internal machinations and other external factors surrounding the company.
Daniel Dejan is a neuroscience researcher who has closely studied the relationship between humans and print marketing. According to Dejan, people will eventually return to print media once they experience monitor fatigue. He has said, “The brain reaches a point of saturation. And when it does, it can no longer take in any more. So, when you reach that point of digital information overload—whether you realize it or not—even younger demographics will seek out printed materials.”
Role of Paper Media in Offices and Corporate Environments
Paper media still has a place in offices and corporate environments. Business cards, sales documents, and brochures are commonly found in office buildings even today, and this will not change.
Research by Epsilon Marketing suggested that 80% of people preferred to do business with companies that offer customization and personalization.
Successful Examples of Print and Digital Personalized Marketing
One example of personalized marketing that was successful in print and digital was Coke’s ‘Share a Coke’ campaign, in which people were encouraged to find Coke bottles with their names on the label.
Customers prefer printed packaging, as it carries the perception of being more thoughtful and putting more effort into it. Printed packaging also helps foster a memorable brand image so customers can identify your brand.
Dollar Shave Club, for example, includes a printed newsletter with many of its products. They believe this is one way to ‘deepen the brand’s relationship with customers.
Coexistence of Digitalization and Print Media in Companies
Many companies may have embraced digitalization for the most part, but specific sectors still rely on print media. Many companies no longer bother to keep track of how much printing they do. Printing costs usually get buried between more essential metrics of each branch of a larger organization.
Environmental Impact and Sustainable Production Methods
As necessary as printing has been for so many years, there’s no denying its strain on our planet’s resources. Climate change scientists have warned for years about the effects of cutting down thousands of trees to make paper, and industries are finally starting to listen. Despite cutting down on printed media as much as possible, even the most environmentally conscious companies still rely on it. New and sustainable production methods will likely be used if printed media still has an essential place in the marketing sector.
Influence of Cloud-Based Technology on Print Media
The rise of cloud-based technology has also significantly affected print media, making printing cheaper and more efficient than ever. Cloud computing allows modern companies to print paper-based material in bulk, wherever needed, thus saving transport and storage costs.
Print Media’s Essential Role Despite Digital Advancements
Print media is still essential but will never be a perfect substitute for digital marketing. The internet provides a globalized network that paper media cannot compete with, allowing businesses to reach broader audiences than ever before and stay connected with them regularly.
Each marketing strategy can only work for some businesses. Every business needs to assess its specific needs and strengths to determine what benefit print marketing brings to its company. Print media is still popular, but that could change in the future. There’s no telling what could happen. Will modern technology find a new, sustainable replacement for paper media? Will digital media take over completely?
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.
Maximize Sales Success with Excel Offer Tracking Tools
Sales offer tracking Excel spreadsheets are customizable tools that organize sales deals, monitor follow-ups, track pipeline stages, and forecast revenue using built-in formulas, conditional formatting, and dashboards—all within Microsoft Excel or Google Sheets. These free or simple templates help sales teams prioritize high-value offers, reduce missed opportunities, and boost close rates by 20-30% through automated alerts and real-time visibility.
As the founder of Complete Controller, I’ve guided countless sales teams through scaling operations over the past 20 years. Working with businesses across every sector imaginable—from tech startups to established manufacturers—I’ve witnessed firsthand how a basic sales offer tracking Excel sheet transformed chaotic pipelines into predictable revenue streams. One client reduced their offer expiration losses from 35% to just 12% within six months, while another doubled their quarterly closes simply by implementing automated follow-up alerts. You’ll discover how to build powerful tracking systems, leverage advanced formulas for forecasting, and avoid the costly mistakes that derail most Excel implementations.
What are sales offer tracking Excel tools and how do they maximize sales success?
Sales offer tracking Excel tools are spreadsheets that log deals by stage, value, next actions, and rep assignments, using formulas like TODAY() for overdue alerts and SUM for pipeline totals.
They automate prioritization with color-coded cells (red for overdue, orange for today) and filters for urgent views like “Contacts with Actions.”
Dashboards visualize total pipeline value, win probabilities, and rep performance without needing CRM software.
Small teams gain quarterly forecasts, lead scoring, and activity logs to refine processes and hit targets.
Unlike complex CRMs, they’re free, customizable, and ideal for solopreneurs or SMBs starting with 10-50 deals.
Top SERP templates focus on pipelines, but overlook tailored sales offer tracking Excel for specific offers like discounts, bundles, or time-sensitive promotions. Basic spreadsheets lack the automation and visual cues that transform data into actionable insights. Research shows that for every dollar spent on CRM software, businesses see $8.71 in return—yet small teams can achieve 60-75% of those same benefits using well-structured Excel templates at virtually zero cost.
Essential columns for offer-specific tracking
Your tracking spreadsheet needs specific fields that capture offer dynamics:
Offer Name, Expiration Date, Discount %, Target Close Value, and Uptake Status (e.g., “Redeemed,” “Expired”)
Conditional formatting formula: =AND(TODAY()>Expiration, Status<>”Closed”) to flag expiring offers red
Lead Source tracking to identify which channels generate highest-converting offers
Bundle components for package deals with individual item tracking
Pro Tip from Complete Controller: Track offer ROI with formulas like =(Closed Value – Original Value) / Leads Contacted for precise campaign analysis. Our clients using this formula discovered their email campaigns generated 3x higher ROI than cold calls.
Step-by-Step Guide to Building Your Sales Offer Tracking Excel Template
SERP results provide downloads but lack walkthroughs for customization. Here’s a complete setup for sales offer tracking Excel, transforming blank sheets into revenue-generating dashboards.
Core setup: Headers and formulas
Start with Row 1 headers that capture essential tracking data:
Next Action Formula: =IF(TODAY()>Next Action Date, “OVERDUE”, IF(TODAY()=Next Action Date, “TODAY”, “FUTURE”)) with conditional formatting
Stage probability assignments: Lead (10%), Prospect (25%), Negotiation (60%), Closed (100%)
Create data validation dropdowns for consistency. Select your Deal Stage column, go to Data > Data Validation, and input your stage options. This prevents typos and standardizes reporting across your team.
Adding pipeline dashboard
Your summary sheet transforms raw data into executive insights:
Total Pipeline Value: =SUMIF(Stages,”<>Closed”,Values) for active deals
Won Revenue: =SUMIF(Stages,”Closed”,Values) for closed business
Weighted Forecast: =SUMPRODUCT(Values,Probabilities) where Probabilities match stage percentages
Average Deal Size: =AVERAGE(IF(Stages=”Closed”,Values))
Insert visual elements for instant comprehension. Add a pie chart showing stage distribution (Insert > Charts > Pie) and a bar graph comparing rep performance. Link these directly to your data ranges so they update automatically.
Custom views with filters and slicers
Excel’s filtering capabilities turn overwhelming data into focused action lists:
Apply AutoFilter to your header row (Data > Filter)
Create custom views for “My Overdue Offers” or “High-Value Opportunities >$10K”
Add Timeline Slicers for date-based filtering (available in Excel 2013+)
Save each view configuration (View > Custom Views > Add)
Power users leverage Advanced Filter for complex criteria. Set up a criteria range showing Stage=”Negotiation” AND Value>5000 AND Days Since Contact>7 to identify stalled high-value deals requiring immediate attention.
Download templates and modify placeholder fields with your specific offer types. Replace generic “Product” columns with “Offer Code,” “Discount Tier,” and “Valid Through” fields for instant customization.
A regional retail distributor managing 200+ monthly sales offers struggled with 35% offer expiration losses. Their sales team tracked deals across separate spreadsheets, leading to missed follow-ups and expired promotions. Industry data shows 80% of sales require 5-12 follow-up attempts, yet 92% of salespeople stop after just four attempts.
The company implemented our recommended sales offer tracking Excel template with three key modifications:
Automated expiration alerts using conditional formatting (cells turned red 72 hours before expiry)
Weekly dashboard summaries emailed to management via Power Automate
Offer ROI calculations showing profit per promotion type
Results after six months:
Offer expiration losses dropped from 35% to 12%
Follow-up consistency increased from 55% to 88%
Quarterly revenue grew 18% (from $450K to $532K)
Sales rep productivity increased with 2-3 hours weekly saved on admin tasks
The transformation required zero software purchases… only disciplined use of Excel formulas and shared OneDrive access for real-time collaboration.
Advanced Formulas and Automation for Sales Offer Tracking Excel
SERP content overlooks Excel’s advanced capabilities. These formulas elevate your tracking from basic logging to predictive analytics.
Must-know formulas
Weighted Pipeline Forecast:
=SUMPRODUCT(Values, Probabilities) where Probabilities = VLOOKUP(Stage, StagesTable, 2, FALSE)
This formula multiplies each deal’s value by its probability percentage, providing realistic revenue projections rather than optimistic totals.
Offer Conversion Rate:
=COUNTIF(Status,”Closed”)/COUNTA(Leads)*100
Track which offer types convert best by segmenting this formula by offer category.
Deal Aging Analysis:
=DATEDIF(Contact Date, TODAY(), “D”)
Flag deals stuck in stages longer than typical cycles. Research indicatesleads contacted within five minutes convert nine times more often—use this formula to identify hot opportunities.
Complete Controller Insight: Integrating Power Query for bank and CRM imports reduced our clients’ data entry by 70%. Set up automated data refresh schedules to pull latest information from connected sources.
Scaling to teams: Shared access and alerts
Transform individual trackers into team powerhouses:
Migrate to Excel Online or Google Sheets for simultaneous editing
Set up email notifications using Office Scripts or Google Apps Script
Create user-specific dashboards with FILTER functions showing only assigned deals
Implement version control by saving dated copies before major updates
Build accountability through transparency. Public dashboards showing rep performance metrics drive healthy competition while highlighting training needs.
Common Pitfalls in Sales Offer Tracking Excel and How to Avoid Them
Top tracking failures stem from over-engineering rather than technical limitations. Sales reps spend only 28% of their time actually selling—don’t make tracking systems that steal more selling time.
Pitfall: Data overload
Limit active tracking to 10-12 essential columns. Archive closed deals quarterly to maintain performance. Create a separate “Details” sheet for extensive notes rather than cramming everything into your main tracker.
Pitfall: No backup strategy
Enable AutoSave to OneDrive or set up hourly Google Sheets backups. Name versions with dates (SalesTracker_2024-11-15) for easy recovery. One client lost three months of data before implementing our automated backup protocols.
Pitfall: Ignoring mobile access
Optimize for Excel mobile app by placing critical columns (Contact, Stage, Next Action) leftmost. Hide secondary fields on mobile views while maintaining desktop functionality.
Pitfall: Neglecting data validation
Inconsistent data entry destroys reporting accuracy. Implement dropdown lists for all categorical fields and use data validation rules to prevent impossible dates or negative values.
From experience guiding hundreds of implementations, teams fail when tracking everything instead of focusing on offers driving 80% of revenue. Start simple, prove value, then expand systematically.
Conclusion
Mastering sales offer tracking Excel transforms disorganized deals into high-conversion pipelines with automated alerts, visual dashboards, and predictive forecasts that drive consistent revenue growth. Over my two decades as CEO of Complete Controller, I’ve watched small teams achieve remarkable results—from 30% close rate improvements to 66% reductions in administrative time—using nothing more than well-designed spreadsheets and disciplined processes.
Your next step is clear: download a template today, customize it for your specific offers, and implement the formulas and automation techniques outlined above. Within weeks, you’ll see improved follow-up rates, fewer missed opportunities, and clearer revenue visibility. Ready to accelerate your sales transformation with expert guidance on bookkeeping and financial tracking systems? Visit Complete Controller to discover how our team helps businesses like yours build scalable financial operations that support explosive growth.
Frequently Asked Questions About Sales Offer Tracking Excel
What is sales offer tracking Excel and how does it differ from regular spreadsheets?
Sales offer tracking Excel uses specialized spreadsheets designed specifically for logging sales opportunities, deal stages, values, and follow-up actions. Unlike basic spreadsheets, these templates include automated formulas for alerts, conditional formatting for visual management, and dashboard summaries for instant pipeline visibility.
How do I set up conditional formatting to flag overdue offers automatically?
Select your date column, go to Home > Conditional Formatting > New Rule. Choose “Use a formula” and enter =TODAY()>A2 (adjust A2 to your date cell). Set the format to fill cells red. For due-today alerts, create another rule with =TODAY()=A2 and format orange. This creates automatic visual warnings without manual checking.
Can sales offer tracking Excel truly replace a CRM for small businesses?
For teams managing under 50 active deals, Excel provides sufficient functionality for pipeline tracking, reporting, and follow-up management. You’ll get 60-75% of CRM benefits at zero cost. However, teams exceeding 100 deals or requiring advanced automation should consider upgrading to dedicated CRM software for scalability.
What formulas calculate total pipeline value and weighted forecasts?
For raw pipeline value, use =SUM(Deal Values) to total all opportunities. For weighted forecasts that account for probability, use =SUMPRODUCT(Values, Win Probabilities) where probabilities are percentages based on deal stages. This provides realistic revenue projections by factoring in likelihood of closing.
Is sales offer tracking Excel effective for team collaboration?
Absolutely. Using Excel Online or Google Sheets enables real-time collaboration with multiple users editing simultaneously. Add filters and slicers for rep-specific views, implement user permissions for data security, and create shared dashboards for team visibility. Modern cloud-based spreadsheets rival many CRM collaboration features.
DocuSign. “Sales Reps Spend 70% of Their Time on Admin—Here’s How to Fix That.” DocuSign Blog, 2024.
Jetpack CRM. “CRM ROI: How to Measure Return on Investment and Cost Benefits.” Jetpack CRM Blog, 2024.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
The decision between buying a house or renting an apartment is one of individuals’ most critical choices, often leading to common financial pitfalls, especially among middle-class Americans. This blog aims to raise awareness and provide a stark realization of the potential financial risks associated with this decision. Join us in exploring the nuances and making informed choices for a secure financial future.
Deciding between purchasing a house or renting accommodations holds significant consequences. Thorough research is imperative to unravel the optimal choice tailored to your needs. Let’s explore to determine which option aligns best with your requirements.
Is it Always Better to Buy a Home? When is it Better to Rent?
Fundamentally, buying or renting a house will depend on the costs. Within them, we will differentiate the initials when carrying out the purchase or rental operation and the totals considering the long-term horizon.
Initial Costs
The initial costs and the rent are more affordable. There are usually only costs such as liability insurance or the guarantee, compared to the high initial costs involved in the purchase: notary, registry, VAT, appraisal, etc. For this reason, rent is an excellent option to access the first home.
Total Long-term Costs
As for the total long-term costs, they can become factors that make it more convenient for us to decide on rent or purchase. We can add the mortgage installments with your initial expenses and other expenses and compare them with the cost of a lifetime rental. But this is not the fundamental factor.
The Level of Interest Rates
In the situation that has occurred historically in Spain, the purchase was more profitable than rent because although the investment entails more expenses (higher monthly payments, the share of the community of owners, taxes, maintenance), the high annual rates of house price growth made the brick property the best investment. Therefore, the key to deciding whether to rent or buy a home would be to know the performance of existing investment opportunities and the cost of loans, i.e., the interest rates.
Example of Whether it is Better to Rent a Home or Buy it
For instance, if I rent a house for $200 / month for 30 years, I will have paid $72,000.
Depending on the rate of growth of the price of the houses, my estate within 30 years, if you buy the home, will be higher or lower than if you had rented.
It is an extreme case, but it serves to understand that if the interests of the market (investments and loans) are more significant than the rate of growth of housing prices, what we do year after year is to lose money since what we pay in interest for housing and what we stop receiving in investments far exceed the increase in the value of housing.
Even so, there are cases where the rent could be more convenient for other reasons. As we said before, the initial payment is more affordable: bond and insurance against the notary, registration, etc. Also, the rent favors mobility, and we can live closer to work, saving on transportation and gaining in quality of life (in areas where, for example, we cannot buy for the high price).
And the monthlycosts are also lower:
They tend to be lower than the purchase.
We do not pay the community fee or the annual tax.
We do not commit so much to our future income, as the rent is usually in the short and medium term.
It is faster to find a rental house than one to buy. And there are also a series of incentives and state subsidies to access a rental.
Conclusion
In short, buying a home is better than renting it when the rate of growth of house prices is higher than the return we can get with other investments and more significant than the interest costs we pay for the mortgage. However, the most common situation is the opposite: the interest on the loans and the returns from other investments did not reach the levels of growth in the price of housing, so buying was a better option from that point of economic view.
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.
Before extending credit to a business, banks consider all the company’s significant financial statements. The bank reviews the balance sheet, cash flow statement, income statement, and statement of owner’s equity to judge the company’s financial health and then decide whether to extend credit. Extensions help them analyze the company’s plans and understand if the company will repay the credit. The bank will refuse to extend credit if it expects the business to go bankrupt in the coming years, making it extremely difficult to honor the payments.
Income Statement
The income statement, also called the idea of revenue and expense, showcases a company’s revenue over a long period, excluding the expenses. In other words, it shows the company’s financial performance over the period. It also tells the bank whether the company is making a profit or loss, taxes, and net profit over a specific accounting period. Financial experts review the statement to determine whether the company is investing in premium products with low volume or indulging in high-volume sales at discounted prices. Discounts help them decide if the business will be sustainable in the coming years and influence their decision to extend credit.
Cash Flow Statement
A cash flow statement displays the amount of cash that moves in and out of business over some time. The bank analyzes a company’s cash flow statement to understand better how it used its monetary resources in the past and how well it manages its cash position. It will help them know if the company will repay their loan promptly. Banks want to ensure you have enough cash resources to run your business and pay off the loan simultaneously.
Balance Sheet
A balance sheet offers a detailed description of a company’s assets and liabilities at a specific point in time. The assets include cash, land, equipment, office, etc., whereas penalties include previous loans that need to be paid, debts to suppliers, and upcoming tax payments. The balance sheets also contain details regarding stakeholders and equity, and banks go through these details before extending credit. The purpose of this is to be aware of these details in the case of a non-payment (the profit fails to supply enough cash to pay the loan), in which case, the bank will sell the business’s assets to make up for the credit extended.
Debt to Income Ratio
The debt-to-income ratio is the percentage of a company’s monthly income that makes monthly debt payments. This ratio can be calculated by dividing the total monthly obligations of a business by the total monthly income generated by the company. The lower the ratio, the better it increases the likelihood of a bank extending credit to them. A high debt-to-income ratio demonstrates a higher risk of forfeiting payments, and a low debt-to-income ratio shows a good balance between debt and income. Banks use this ratio to determine a company’s borrowing risk, and they will not extend credit to a business with a high DTI ratio but will lean toward a business with a low DTI ratio.
Other Considerations
Although the details mentioned above will tell the bank plenty about the business, there are still some details the bank cannot know by only reading the financial statements. For example, any legal proceeding against the company, which might lead to a hefty settlement, will not be mentioned in the financial statements. The bank will conduct extensive research about the business and its operations to gain access to such details. You might include:
Gaining access to legal records and company filings with local and federal courts.
An in-depth search of all news coverage about the business on national television and social media outlets.
Conducting interviews of the company employees and executives’ owners.
Conclusion
In the intricate process of extending credit to a business, banks meticulously scrutinize various financial statements to gauge the company’s financial health and assess the risks associated with lending. The income statement offers a comprehensive view of the company’s financial performance, while the cash flow statement provides insights into its cash management practices. The balance sheet lays bare the company’s assets, liabilities, and equity, aiding banks in understanding the potential collateral in case of non-payment.
The debt-to-income ratio emerges as a pivotal metric influencing the likelihood of credit extension. A lower ratio signifies a healthier balance between income and debt, enhancing the business’s creditworthiness. Conversely, a high debt-to-income ratio raises concerns about repayment capacity, potentially impacting the bank’s decision.
Beyond these financial indicators, banks recognize the limitations of financial statements and delve into additional considerations. Thorough research, including legal records, court filings, news coverage, and interviews with company stakeholders, provides a comprehensive understanding of the business and any potential risks. This multifaceted evaluation ensures that banks make informed decisions, balancing the need for credit with the imperative of mitigating risks associated with lending to businesses.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
When a business is on the level of success in the local market, it is common for entrepreneurs to expand abroad to gain a new audience and potential customers. There are various advantages of converting your business into a global market, containing new chances for sales and growth and the opportunity to make your business market competitive.
Expanding into other nations or internationally does not just occur; it comes with multiple risks and challenges. While there are many factors to consider before determining if your process is ready to go worldwide, these best steps will assist you in navigating this change.
Assess Your Capital
To be economically successful internationally, you need a long-term economic plan. If you do not have much capital for the initial investment, consider getting the money. Remember that increasing is not something you could expect to profit from right away. It would help if you were into it for the long run.
Leverage Influencer Relationships in Foreign Markets
Search for an influencer in the markets you are interested in and grow your relationship with them well before you start expansion. Do not think small once searching for these influencers. “Search near you and everywhere,” Ted Rollins, an Inc. 500 entrepreneur.” Ensure creating your network and utilizing it to grow your ideas or source ideas.”
As this relationship increases, consider whether they will make a good option for your expansion. I suppose they will help more as mentors, assisting you in learning how to do business internationally. In that case, these connections will be significant when you make the final jump.
Understand Cultural and Language Barriers
Coming to foreign markets shows many difficulties, with cultural barriers being among the most challenging. You may have to adjust your branding and marketing to meet customers’ demands in various regions, but if you are opening workplaces, you must consider office culture. For instance, life and work balance in other areas and countries differs significantly from the U.S. Personal and professionallives often cross in the U.S., and some other world zones are kept entirely different.
Additionally, cultural and language barriers can make communication difficult while efficiently positioning yourself as a market leader. Learning different languages is the primary way to overcome this difficulty. As a leader, this shows that you have courtesy for other languages and cultures and a drive to keep rising; it also shows that you place worth on meaningful relationships.
Use the interactive languages map to determine which language is most spoken in the area you are focusing on. How much time will it take you to learn it? For instance, Italian is the most common language spoken in Italy, Germany, Switzerland, Belgium, and Austria. It takes a maximum of four months to learn when studying four to five days a week. Decide to learn the language as early as possible so you are ready when a business starts moving forward.
Hire Market Research Firm
When considering which market to enter, the initial step is recruiting a reputable and experienced market research firm. Only because an international industry may be hot might it be home to the clients you want to reach.
With the market research firm, you can decide whether your business will be well received in that zone or area or if there is a market for your products and services.
The firm will also help you control how your brand will convert into a foreign culture and discover current market demands and competition. This type of research is challenging and often ignored by many business leaders, so it is wise to hire experts.
Get Employees on Board
To successfully expand your business internationally, present workers must be on board; you must train new workers and build out the new procedures. Get them on the board by asking about their customer acquisition, ideas for communication, marketing, and many more. These people are the pillars of your organization, and a massive part of why it is successful enough to increase, so keeping them in the loop will go a long way.
Bottom Line
These are only some steps you must take when growing your businessinternationally. If you go to development with the right boxes checked, you will be more successful in the long haul.
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.
Saving is essential to have peace of mind in our lives and to meet short- and long-term goals, whether from a trip or acquiring wealth, to save and achieve a decent retirement when the time approaches. But if we know that saving can help us and give us the financial peace of mind we aspire to, why don’t we save for that purpose?
Saving is a habit achieved with discipline; you must learn and practice it daily, knowing how to choose in which situations to buy and in which it is better to save that money.
Consider that saving is not always easy and involves allocating the money you have today for “your future self.” Conservation discipline is essential to acquiring healthy personal finances that help us live better and be prepared for emergencies.
However, even though most people know the importance of saving, 40% of the population still needs to save in America. Although the data is less than the population that does, the reality is that many (43.7%) use informal mechanisms such as family loans.
But nowadays, the banking process is more straightforward than ever, and there are different mechanisms and companies to save formally and not “under the mattress,” which implies that we can have safe money, with returns or profit, and make better use of it through the different investment products. Making sound financial decisions is relatively easy. Here are some recommendations.
Use Formal Saving Mechanisms
Suppose you already have the habit of saving. In that case, even if it is already a significant step by informal mechanisms, we must consider that the storage under the mattress and the batch are high-risk mechanisms. Nobody guarantees that our money is safe in them.
If you are from this group, consider formal financial institutions that can protect your savings as banks or fund managers. Some institutions do not charge you a commission for opening your account or setting up account management—research which financial institution best suits your needs.
Difference Between Savings and Investment
Keep in mind that saving does not maintain the current value of money, and there are external factors such as inflation, which can make that, over time, the money you had reserved not reach you the same as before.
Therefore, choosing between alternatives that make your money grow and work is the best option. Investment funds help your cash grow according to the investor profile. Whether conservative or aggressive, your money will be working.
The Importance of Investing Your Money
Investing can be a good option if you allocate a fixed monthly amount to your savings. It will help you acquire a faster estate for the generated interest, ensure your children’s education, or improve your lifestyle at retirement.
Investment funds today are a saving tool. Invest in financial instruments of various kinds with products oriented to national or international investment, in fixed or variable income (shares), whether you select a bank, a brokerage house, or a financial group.
Where to Invest?
Advice is your best ally; nobody is an expert in everything, and when it comes to caring for and maximizing your money, you must go with a specialized financial advisor who guides you in what is best for you and your lifestyle if you have children or not, if they are small. You will have to pay tuition fees if you have a home or are looking for one.
Counseling is vital so your savings can be invested wisely and diversify into products that help you achieve those financial goals and give you liquidity when needed.
Conclusion
In conclusion, saving is a cornerstone for achieving financial peace of mind and realizing both short- and long-term goals. Despite the clear benefits, a substantial portion of the American population still struggles to cultivate a savings habit. The key lies in adopting disciplined saving practices and making thoughtful financial decisions.
Formal saving mechanisms, such as banks or fund managers, provide a secure and regulated avenue for safeguarding your savings. It’s crucial to move beyond informal methods like storing money under the mattress and explore options that offer protection and potential returns.
Distinguishing between savings and investment is essential. While traditional savings may not shield your money from the impact of inflation, investing allows your wealth to grow and work for you. Tailored to various risk profiles, investment funds can enhance your financial standing, whether for your children’s education or a comfortable retirement.
Choosing where to invest requires careful consideration and, in many cases, seeking advice from a specialized financial advisor. Their expertise can guide you in making informed decisions, ensuring your savings are invested wisely, diversified across suitable products, and aligned with your financial goals. By embracing these principles, individuals can journey toward financial security and prosperity.
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.
There comes a time when they retire from their jobs, or they don’t have enough strength to continue their jobs anymore for every individual. The person must invest his money or keep on saving it to prepare for this moment. It would help if you learned several measures to protect finance professionally. Not everyone can master this technique, as many find it problematic to save extra money instead of having a good time outside the home.
At schools and colleges, many of us learn multiple ways to save money when it is needed. However, there is a big difference between saving a few bucks and life savings. It would be best if savings equipped you with how to save enough money to live an extraordinary after-retirement life. Sometimes, you are left with no money or need urgent finances to fulfill some needs. This saving will come in handy to achieve that purpose. There are several ways of saving money for a rainy day or a better future.
Start with Goals
It is the most crucial part where you list down all your goals related to financing. You must note down both the short-term and long-term goals. The short-term goals will include the purposes related to day-to-day life, while the long-term goals will include buying a house or a car soon. Make a list of all the goals that you have. It will be a form of budgeting where you will list all the expenses you will incur.
Creating a Plan
It includes formulating a plan or creating a budget to control the daily expenses. The funding will help you carry out your daily activities while knowing that you are saving money at the end of the day. This plan will ensure that you are not wasting money out of the limit that you have specified. It will also help you to recognize the unnecessary expenses and eliminate them.
Spending Less Than You Earn
The policy of spending less money than you earn applies here. Although budgeting will help you, cut out all the unnecessary expenses from your list. Make changes and find cheap alternatives to the things you spend your money on.
Investment
Finding a specific section to invest your money in with all the scams can be difficult. However, many programs require you to invest a minimal amount of money and give you a regular return. Such an investment will help you save money for the future.
Pay All Taxes and Debts
People need debts to meet their requirements and pay different taxes as natives. You will be in a more peaceful zone.
Maintaining a Good Credit Score
This method will help you borrow a lot of money from financial institutions. Your credit scores are a list of your credit history and how long it took you to repay it. They will help you in the future. New lenders check your score to determine how much money you can borrow and how much interest rate should be imposed on you. There are several other benefits attached to maintaining a good credit score.
Keep Check and Balance on Your Expenditures
Check your daily expenditures to see how you are spending and saving. Track all your bills and their increasing and decreasing levels. Then, it will be your responsibility to keep control of such increases. Be an on-time taxpayer so that you can apply for any loan.
Conclusion
These ways are highly effective if you decide to save money for your future. There are several more. However, maintaining a routine is effective, and creating a budget is the first step towards saving money. Not everyone can master this technique, as many find it problematic to save extra money instead of having a good time outside the home. Therefore, make sure you can control your desires.
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.
Elevating your business revenue involves strategic approaches that go beyond conventional sales tactics. This discussion explores five effective methods to enhance income in each sale, catering to diverse business models. From advocating higher-range or superior-quality products to suggesting complementary services and creating enticing packages, these techniques meet customer needs and foster increased sales.
Furthermore, incorporating incentives provides customers with an extra layer of motivation, culminating in a win-win scenario. As we delve into these strategies, remember that the key lies in presenting offerings appealingly and engagingly tailored to your unique business landscape.
High Range or Higher Quality
Sell a product or service of higher range and quality. In short, propose something better to the client than what they are looking for. Offering a superior product or service will increase sales revenue.
Do not lose sight of the fact that what you offer must cover the client’s needs and adapt to their tastes and preferences for this type of sale to work.
Let’s see an example. Let’s imagine that you sell sports equipment and gear. A potential client accesses your store and asks you about specific running sports costing $70. You could show them to them and, while they are being tested, ask them about their needs: what terrain they will run, how many times they will practice running a week, what kind of cushioning they are looking for, their footfall, etc. Considering their answers, show them some sneakers from a top line that fit your needs. If you sell the most expensive sports, you will get $100 (to say something) instead of $70, achieving higher income.
Complementary Products or Services
It offers complementary products or services to which the customer has purchased or intends to buy. Suppose you are a web designer. Someone who will start a business calls you and asks you to set up their page. In addition to web development and design, you can propose managing and purchasing the domain and accommodation.
Another example: you have a shoe store, and a customer buys some brown leather shoes. You can offer different color cleansers, insoles, or laces to change and combine depending on your clothes.
Offers Packs
We get to the third way to get a higher income in each sale you make offers packs. If you have a cosmetics store, you can create a package to sell lipstick, rouge, and nail polish. In this way, the customer will perceive a more excellent value for said purchase than if he acquired the products individually.
The same thing happens with services. If you have an aesthetic center, you can create a pack that offers manicures and pedicures. Or, if you dedicate yourself to graphic design, you can make a “pack-start” to provide the plan for the logo, business cards, and brochures for those companies that start their business adventure.
It involves packing two or more items and charging a price slightly lower than their cost separately. If you give it a couple of laps, you will develop great ideas for implementing them in your business.
Incentives
Finally, you can offer different incentives so that the same customer spends more on the same purchase.
For example, if you have a clothing store, you can give a gift shirt for purchases over $60 or deliver a $10 gift card to customers who spend over $90 for futurepurchases.
Another example: a shop could offer the assembly free to a client who makes an order of more than $4,000. Or an online toy store can send the order for free if it exceeds $100.
Conclusion
In conclusion, strive to provide added incentives for customers purchasing above a specific value, a practice that can significantly enhance your income per transaction. These five strategies emphasize the importance of adeptly asking, showcasing, and offering products or services in a compelling, attractive, and engaging manner tailored to your business type.
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.
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.
