Author: Complete Controller

When buying a used car, you face the possibility of either acquiring a reliable vehicle or incurring significant expenses for future repairs. Proper budgeting is key, with 10-25% of the car’s cost set aside for potential repairs, alongside considerations like re-registration, registration fees, and mandatory car insurance (OSAGO).

Clearly defining your requirements, including vehicle type, transmission, and fuel choice, streamlines your search. Avoid highly modified cars that may suffer from accelerated wear. This guide is your roadmap to making confident, well-informed choices in the used car market.

If your interest in purchasing a used car persists, we recommend following our comprehensive guidelines.

Effective Communication

It’s crucial to compile a set of questions to discuss with the seller over the phone, a step that can save you considerable time. However, making the final decision based solely on a phone call is ill-advised. The most critical factors to consider are conducting an in-person external inspection and thoroughly reviewing the car’s history. The more inquiries you make, the more precise your understanding of different sellers, pricing, and the overall dynamics of the used car market will become.

Pros of Used Car Purchases

The advantages of purchasing a used car are numerous: significant cost savings, the opportunity to own a more prestigious albeit older vehicle, and access to options with advanced features. In cases where the owner has already carried out substantial repairs, your future investment in maintenance will be reduced. Furthermore, many used cars come equipped with features such as insurance, a car radio, and an alarm system, potentially saving you additional expenses. 

Timing Matters

As for the optimal time to buy a used car, it’s advisable to target periods with reduced competition from other buyers. Such as before and after the New Year holidays and during the summer when car demand tends to decrease. However, remember that good deals can be found throughout the year.

Budget Assessment and Vehicle Identification

Ensure your budget aligns with the car’s market value by utilizing online ad listings. Please familiarize yourself with the location of essential vehicle markings, such as the VIN, duplicate plates, and engine number, on your chosen model and assess their condition during the inspection.

Thorough Vehicle History Check

Before meeting the seller, conduct a comprehensive check of the car’s history, including records from traffic police, Auto code, Autotech, PRO auto, and the register of pledges. Verification of any outstanding liabilities is crucial, and this requires confirmation of the car’s VIN. During the inspection, confirm that the VIN matches the vehicle and its documentation, and ensure the seller’s information aligns with the Technical Passport (TCP).

Inspecting the Body Condition

When assessing the body, focus on the following criteria: uniform gaps between body elements, consistent body color, and tone across adjacent components, and ensure that the dates of manufacture for headlights, glass, seat belts, and other parts align with the car’s production date.

Pay attention to the integrity of fasteners on removable body parts, and check for the presence and authenticity of sealant. Examine welding at the joints of body panels and assess the condition of door seals and rubber bands. In subpar repairs, paint dust may be visible on these components.

Thorough Vehicle Inspection and Test Drive

Begin by examining the engine compartment, ensuring you check technical fluid levels and inspect for any signs of leaks or fogging. Next, assess the functionality of essential components such as lights, air conditioning, and windshield wipers, as well as the overall electrical systems. Consider an ECU diagnostic tool like the ELM327 for a detailed analysis.

A test drive is essential, even if the seller is at the wheel. During the drive, evaluate the car’s dynamics and brakes and listen for unusual sounds. Assess acceleration, brake performance, and suspension operation while remaining attentive to exterior noises. While not mandatory, professional engine diagnostics are recommended, ideally at a brand-specific club service or specialized service station. 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.

Private mortgage insurance, also called PMI, is a type of mortgage insurance you may need to pay if you have a conventional loan. For example, PMI saves the lender, not you, if you default on your loan to other mortgage insurance.

Lenders organize PMI, but private insurance companies provide the coverage.

When is PMI required?

PMI is a standard requirement when securing a conventional loan with a down payment below 20% of the home’s purchase price. Similarly, if you are refinancing with a traditional loan and your equity falls below 20% of your home’s value, PMI is typically obligatory.

What are the Costs of PMI Insurance?

The expenses associated with PMI insurance are contingent on your credit score and down payment, commonly falling within the range of 0.3% to 1.5% of the original annual loan amount. It’s essential to bear in mind that this cost is in addition to the interest you pay on your mortgage.

How to Pay for PMI?

When it comes to covering PMI expenses, there are multiple options available. Before finalizing your mortgage, it’s advisable to inquire with lenders about the choices they provide, as these can vary.

The most prevalent method of paying for PMI is through a monthly premium, which is conveniently incorporated into your monthly mortgage payment. This premium is clearly outlined on both your Loan Estimate and Closing Disclosure, located on Page 1 under the “Projected Payments” section. You receive a Loan Estimate when you apply for a mortgage, prior to accepting the mortgage terms.

Alternatively, some borrowers opt to make a single upfront premium payment at the closing of the mortgage. This payment is detailed on Page 2, Section B of your Loan Estimate and Closing Disclosure.

It’s worth noting that if you prepay the premium and subsequently move or refinance, you may not be eligible for a refund of the premium.

In certain cases, borrowers may choose a combination of both upfront and monthly premium payments. Lenders typically offer multiple options, and it’s advisable to seek guidance from the loan officer to calculate the total costs for terms that align with your financial situation.

Key Considerations for Loans Requiring PMI

When evaluating a loan that mandates private mortgage insurance (PMI), it’s essential to weigh several factors. PMI can be a valuable tool, enabling access to loans that might otherwise be out of reach, but it does come with added costs. Importantly, it’s crucial to recognize that PMI safeguards the lender, not the borrower, in case of mortgage payment difficulties.

Conventional lenders may offer loans with reduced payments that do not necessitate PMI; however, these often come with higher interest rates. Deciding between paying higher interest rates or PMI depends on various elements, including your intended length of homeownership. Consultation with a tax advisor may be necessary to determine the potential tax implications of choosing higher interest rates over PMI.

Borrowers with limited down payments may explore alternative loan options, such as an FHA loan, as different loan types may prove more or less cost–effective based on credit score, down payment amount, the specific lender, and prevailing market conditions.

Moreover, striving to accumulate a 20% down payment is an advantageous approach. It eliminates the need for PMI and could result in a more favorable interest rate. It is advisable to request detailed cost breakdowns from lenders, comparing various options to determine the most financially advantageous one.

Additional tip: As you accumulate home equity, you may have the option to discontinue your monthly mortgage insurance premium. It’s advisable to inquire about any updated policies from lenders.

A critical reminder: PMI protects the lender, not the borrower, and in case of payment delinquencies, it does not provide personal protection, potentially leading to foreclosure and property loss.

Conclusion 

In brief, private mortgage insurance (PMI) is an extra expense for conventional loans with down payments under 20% or when refinancing with less than 20% equity. PMI costs, typically 0.3% to 1.5% of the initial loan amount, depend on credit score and down payment. It’s vital to note that PMI safeguards the lender, not the borrower. Borrowers should compare PMI costs to alternative loans with higher interest rates or varying terms. Saving for a 20% down payment can eliminate the need for PMI and potentially lower interest rates. When considering a PMI-required loan, request detailed cost breakdowns from lenders, as PMI does not provide personal financial protection if payments default. 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.

The bubble bursting can be blamed for the global systemic crisis, but so can the classic restructuring phase of the capitalist economic cycle, the growing rejection of ethical values, and, most notably, transparency and moderation. The main body of economic activities loses its sense of responsibility because there are no external safeguards; there is too much room for abuse.

A degree in economics provides you with advanced mathematical and statistical skills and the ability to apply economic assumptions and models to problems in business, finance, and government. You can also use economic principles to comprehend the rationale behind complex data, how things fit together, and the greater context.

The following are some of the specific abilities you will learn:

• Communicate – Proficiency in conveying ideas with precision and logical rigor, underpinned by the adept utilization of sophisticated data and evidence.
• Mathematical abilities – Adeptness in intricate data processing, alongside mastery of advanced mathematical and statistical tools, facilitating data-driven decision-making.
• Problem-solving abilities – The capability to tackle complex challenges with ingenuity, creativity, and an analytical mindset, arriving at effective solutions.
• Analytical abilities – The ability to dissect complex issues, discern patterns, and extract meaningful insights from data, enabling a deeper understanding of multifaceted situations and driving informed decision-making.

Is it still possible to exercise our freedom to supervise an economy that is frequently incentivized to run the globe to the point of subjugating politics? You don’t need an environmental science course to receive a good higher education in Belgium. Isn’t it better to take Jang Ha Jun seriously and include him somewhere between algebra and history in the curriculum? The following are four compelling reasons to study economics.

The Crucial Role of Economics in Effective Management

Becoming a proficient manager demands a thorough grasp of economics. In the realm of economic policy, this proficiency is indispensable for the efficient allocation of our limited resources. It’s essential to underscore the finite nature of Earth’s resources, and yet, throughout history, human ingenuity has continually found innovative solutions to surmount these limitations.

Consequently, individuals responsible for financial matters, such as those working in banks, accounting firms, or trusts, must possess a fundamental understanding of economics, benefiting their daily professional responsibilities and ability to comprehend broader societal issues. These issues encompass pressing topics like global warming, the energy transition, and the transformative impact of the digital revolution, making them ideal subjects for discussion in the workplace with colleagues and peers.

Enhancing Decision-Making Through Economic Literacy

Develop the skill of discerning economic news through the study of economics. While it’s true that economists often grapple with incomplete information when addressing complex issues like combating global warming or estimating the resources needed to alleviate hunger, a strong foundation in economic principles equips you with analytical models and tools to enhance your comprehension of financial news. This proficiency lets you discern patterns, trends, and diverse viewpoints, resulting in a more informed and well-rounded decision-making process. Acquiring this economic knowledge enhances your ability to make balanced and less risky decisions by considering various factors and perspectives, ultimately contributing to your effectiveness as a manager.

Becoming a More Informed Citizen: The Power of Economic Education

In times of economic and social turmoil, a foundation in financial education can transform you into a more engaged and enlightened citizen. Armed with the insights gained from this knowledge, you can swiftly dissect politicians’ statements and decipher the intricate language of economists, an invaluable skill, particularly during elections or general voting periods in places like Switzerland.

Professionals and vocational students, for instance, can cultivate an economic mindset that reshapes their perspective and perception of the world. This transformation involves reconfiguring your mental model (known as “Weltanschauung” in German), which can lead to a richer and more holistic understanding of societal dynamics.

Gaining Insight into Human Behavior through Economics

A grasp of economics is instrumental in exploring and comprehending human behavior. Human actions encompass predictable responses to stimuli and the occasional irrational, unpredictable elements. Understanding these dynamics empowers us to devise methods that influence behaviors for the greater good, whether for the benefit of society, public health, or other aspects of human interaction. In essence, economics can serve as a bridge to sway specific psychological mechanisms.

From this vantage point, economics reveals itself as an interdisciplinary social science, shedding light on the nuances of human behavior while extending its reach to a wide array of domains, encompassing health, environmental concerns, individual actions, societal complexities, business tactics, national governance, and beyond.

Conclusion 

In conclusion, the global systemic crisis, symbolized by the bursting of economic bubbles, underscores the complex interplay of factors, including the cyclical nature of capitalism, ethical values, transparency, and responsibility. A degree in Economics equips individuals with advanced mathematical and statistical skills, enabling them to analyze complex data, solve problems, and make informed decisions across various domains. Moreover, studying economics enhances one’s ability to evaluate and supervise the economy critically, efficiently manage scarce resources, and address pressing global issues. It also empowers individuals to become well-informed citizens, interpret economic policies, and understand human behavior in various contexts, making economics an interdisciplinary social science that sheds light on our interconnected world. 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.

Has the bank rejected your financing application? Are you looking for an alternative solution to finance the development of your business? Solutions exist. You need to understand the bank’s refusal and reorient yourself.

Ask Your Banker

Is it the type of need that posed the problem, the lack of personal contribution, the absence of surety or guarantees to apprehend, or the financing file that was not complete enough? To advance in your search for financing and to target it better, you must, above all, understand this bank’s refusal.

Contact a CCI

To gather as much information as possible about existing funding, go to advisers linked to your sector, for example, a Chamber of Commerce and Industry (CCI). These public bodies help entrepreneurs identify their needs and direct them to suitable financing bodies, state aid, etc. You can ask them for more detailed and personalized support for a fee.

Hire a Broker

Don’t have the time or don’t want to do this research yourself? You can always turn to a broker who will investigate for you to determine the financing best suited to your activity, business, and need. You will be able to benefit from his expertise and especially from his network. His remuneration generally depends on the amount of credit granted for the success of his mission. Your interests go in the same direction.

Corporate Finance: What Other Solutions?

Banking competition

If your historic bank does not follow you, do not hesitate to approach others. They do not all have the same criteria. A banking player will also be ready to make concessions to attract a new client and thus recover the company’s financial flows.

The banking pools

Building a bank pool allows credit to be divided between several banks – and, therefore, the risks associated with the project. However, they will also have to share the company’s financial flows. This last element remains very disappointing for a bank. Indeed, a banking organization will prefer to keep all the flows. It will, therefore, probably choose to carry out co-financing with, for example, a crowdfunding platform. The latter does not require opening an account, and flows can be kept at 100% by the banking institution.

Crowdfunding

In recent years, crowdfunding has become a natural alternative to business bank loans. Different types of platforms exist, adapted to the diverse needs and stages of maturity of a company.

Crowdfunding or donation against donation

With collections of $5,000 on average required, crowdfunding is more suited to small needs when starting a business. This method of financing makes it possible, for example, to supplement a personal contribution (springboard to the bank loan), acquire its first stocks, or launch the manufacture of its first products.

Crowdlending or crowdfunding

Particularly suited to the development of VSEs / SMEs, crowdfunding loans can borrow between $10,000 and $2.5 million from individuals in exchange for financial interest. Generally, platforms rely more on companies’ actual reimbursement capacities than on the guarantees and guarantees they can present. Therefore, this financing solution suits intangible needs such as recruitment, work, marketing expenses, R&D costs, IT equipment, or stocks.

Crowd equity or participatory investment

Rather suited to companies in the creation or startups in the acceleration phase, crowd equity allows individuals to become micro-shareholders in exchange for financial investment. As with the loan, companies can raise funds up to 2.5 million dollars.

Business angels

Business angels choose projects that are important to them. More than a financial investment, they will offer these time-creating companies and their expertise. Indeed, they are generally former entrepreneurs or businessmen/women.

Daily factoring or financing

These solutions, which work almost the same way, are particularly suited to cash flow needs. In both cases, the debts owed by the company’s customers are advanced to it. With factoring, the factors (or factoring companies) become the owners of the company’s debt. They, therefore, reimburse the company and are responsible for monitoring the receivables. With daily financing, the company remains the debt owner, but its bank makes a cash advance.

Honor loans

Honor loans are for business startups and takeovers. Honor loans are zero-rate loans. The purpose of this credit is to be a lever for obtaining a bank loan. It generally complements a personal contribution.

Investment funds

Financial companies aim to manage and invest the funds entrusted to them by their investors (individuals, institutions, etc.). It seeks to invest in companies with promising growth opportunities and generate an attractive return on investment. Several investment funds choose to invest in companies according to maturity sector. For example, venture capital funds oriented towards creation or development capital funds concentrate on growth companies.

Leasing

When considering purchasing vehicles or machinery, leasing allows companies to spread their payments over time and not take out credit or weaken their cash flow.

Target funding adapted to their needs

For a business executive, it is imperative to learn to target the resources relevant to his project. The bank is not the solution to all funding requests. There is a solution for every need! Understanding the tools available and diversifying its funding sources have become real challenges for a business executive! Having alternatives in mind and knowing what solutions you can claim will also bring you greater bargaining power with the bank. 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.

According to Forbes, the success rate of global traders is around 10%. We want to perceive ourselves as winners. However, successful traders are constantly focusing on their losses. It allows them to increase their efforts. Keep a record of what you have earned and lost every day in your business. It is suitable for the company when running a business that needs growth and fame in the market.

Make a proper plan and stick to your goals with the discipline to become a successful entrepreneur. It is better to do a 9 to 5 job by locking your hands and dreams. You will have to learn how to trade for a relevant business in which you are interested in profitable investments.

It would be best to have massive financial capital with the stamina to bear risks. Suppose you want to make desirable money and become a successful trader. In that case, you will have to consider the following rules. You must know what the Financial Industry Regulatory Authority (FINRA) is and how to get it.

Every business owner needs a Financial Industry Regulatory Authority (FINRA). For this, you must have at least $25,000 equity in your account. It applies to those who sell and purchase the same security on the same day. It will be officially possible four or more times in five business days. Your day-trading operation must be six times greater than trading activity within the same five-day period.

A Plan

Trading is how you spend money and invest your life savings, time, and efforts. 80% of Americans dream of self-made business as it makes you independent financially, and you will be the only central power.

For this, you need to set your goals and rules for your business operations. Also, a proper plan with all listed requirements, budget, and overall company cost. In this way, you will know how to manage all your expenses, risks, and the return of investments. Also, it provides us with the courage to deal with every crisis and situation, like rush orders and product delivery management, with a tight budget.

Remember that you will always estimate every expense more than the actual cost. For instance, your business expense of one order is one lac so you will set aside two times extra money for that. If you can’t do this or have a limited budget, an emergency fund will be the best option. It will prevent you from capital deficiency. Also, when you miss something unintentionally, your business plan will help you and help convince your potential customer.

Track Your Regular Performance

Make your business strategy from day one of your project management. There are lots of software available on the internet. Performance monitoring is not a thing that indicates your business activity’s status. It tells you how you manage your risks, finances, and money transactions and how you overcome your crisis. Are your delivery production and money transactions free from scams and illegal basis?

You must be tech-savvy in this regard and can’t do it manually. It would be best to have a backup plan with the backup-testing system. It will record your business performance, money transactions, delivery products, and legal business operating activities.

Your corporation must have a TD Ameritrade for a practice system. Wealth-Lab Pro protects you from fidelity. Many business owners receive ten thousand fake money to check whether PaperMoney is legal. There are lots of software and platforms that offer you such services for free. Some online channels ask for extra charges, and a few offer different packages.

Get Benefit from Technology

When you deal with your business with a professional platform, including the projects of international clients, you will have to be tech-savvy. Technology does not only help you in making potential backtesting strategies. But it also provides access to those platforms that can digitalize all your business activities.

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.

Today, businesses require a lot of planning to achieve the success needed and to recover the investment that is happening. Starting a business is not easy, and less if one ventures without knowing anything about it. It is not just about “losing money.” A person must do financial analysis marketing and look for sources, among many other things, to know if it is appropriate.

Being a Business Owner Requires Planning

Having a business of their own is everyone’s dream, but it can become a nightmare without proper planning. While there are too many micro-businesses or enterprises, there is no decisive reason to be part of them. While they plan their work and work with their plan, everything should go well.

An option for many people is to have an established business because there is a safe investment, which is relatively accurate. There is also the option of having a company with partners who help them get ahead and grow it.

Is Entrepreneurship for You?

For many people, starting a business is a risky adventure; it is a fact that most small businesses fail every year. There is no sure formula to eliminate this risk, but it can be reduced when planning and evaluating ideas in the industry.

A person must start evaluating themselves, determining the strengths and weaknesses, the leadership capacity, and the ability to direct and make decisions. The demand for entrepreneurs is as great as the skills are recognized. To make sure if this is the right choice or not, one can ask the following questions:

Do They Have Initiative?

Remember that the success of their business will depend only on them, their flexibility, confidence, discipline, and the ability to make quick decisions and organize their time to follow everything in detail.

Are They Ready for the Demanding Job of a Home Business?

Running a business is exhaustive; they spend 12 to 16 hours a day in it, planning and working on weekends and holidays. It also means that your family is prepared to make sacrifices since having all the responsibilities of owning a business can be heavy and stressful, and they may need help at some point.

Do They Have Business Management Skills?

Management skills, more than anything, refer to if you have any experience in management and supervision of the business. In addition to being related to the fact that it requires hiring or firing people before. It is fundamental for sales and marketing because they will also understand the accounting and financing of the business.

The Positive Side

A sad reality is that they can find many reasons not to start a business, but if they are motivated and ready to work hard, trying to take advantage, and willing to sacrifice, they can soon be their boss. Continuously, the long work hours have their benefits, and undertaking means not limiting opportunities, accepting challenges, and receiving rewards. Now, to know if their idea is feasible, I make a list of questions that will help you to understand:

• Is there enough money for the idea?
• Do they have any significant experience in the industry?
• Can they sell?
• Is their idea a new pioneer within the segment they want to serve?
• How broad is the market they choose to target?
• Does their market have a chance to grow?
• Who will be their competition?
• Are they better than the competition? How?
• What is the most significant risk in their idea?
• Can they finance this business?
• After they answer these questions, they can list things to start their plan and ideas.
• I recommend that they read the tips to start a business; there are over 60 tips.

Reasons to Seek Advice

Many business owners do not usually seek legal advice until a problem confronts them. A good entrepreneur seeks the experience of lawyers and people who help him with legal advice; a legal counselor provides guidance and essential skills for managing their team.

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.

The economic changes influenced people’s consumption habits and changed how and when they decided to eat. The days of making three meals at a fixed time are already a thing of the past. Now, snacks and meals at any time appear as growth opportunities for restaurants.

In recent years, we have seen how more consumers prefer to take advantage of offers and make smaller purchases, even when it comes to food. They are asking for less at the main meals – which makes them hungrier during the day. And for all this, they spend the day pecking, they are fond of snacks and eat at different times than traditional ones.

According to the Techonomic study, snacks between meals have grown steadily in recent years. Still, since 2016, 83% of consumers have accelerated even more in 2016, compared with 76% in 2014 daily. Among the causes of this are:

• The accelerated pace of consumer lifestyles
• The increase in the number of smaller households (which allows greater flexibility around mealtimes)
• The increasingly widespread notion is that Snacks are part of a healthy diet

Several studies have shown that restaurants could attract loyal customers during low-demand hours if they offered, especially discounts.

And more so when 77% of adults – including 85% of millennials – say they would most likely go to a restaurant at low hours if they paid less.

If you want to increase sales in these periods, your goal will be to increase traffic and do so without affecting sales at peak hours, using, for example, these three slots:

1. Morning and afternoon

One selling opportunity during breakfast hours is to offer smaller foods, such as fresh fruit, some mix for the road, and bites to snack on later. Most of your customers go to lunch afterward, and having these options will make them want to take them to eat at their break time or before or after lunch.

The time between lunch and dinner also offers a new opportunity to increase daily sales. Many restaurants and coffee shops have chosen to create mid-afternoon menus and offer special promotions to attract customers at those lower hours.

2. Happy hour

It is also an excellent strategy to increase sales in the afternoon and snacks and happy hour (usually between 5:00 p.m.-7:00 p.m., although it may vary depending on the mealtimes in each country.).

This time slot allows taking something out and for a better price, which will make it more attractive to those who look closely at their budget. The star choices are special menus for happy hour, cocktails at special prices, smaller plates, and snacks.

Happy hour can also serve as a bridge for dinner. The economic change has meant that many restaurants have also become a bar. More and more consumers decide to stay in one place instead of moving, so restaurants become the chosen destination for the whole night.

3. Sunset-night

Other types of customers who are also present at the end of the afternoon can be a potential source of income for you. The key to success is to do it properly since the night customers are quite different from the rest of the day.

The people who will visit you to extend the night tend to be younger (from 18 to 24 years old) and look for a different experience or a different environment from those who dine during the typical hours. These nights, clients can come from a game, a show, or a concert, and to attract this group, you must make your restaurant fun, with a good atmosphere and economical during these hours.

We usually change to a more straightforward menu to take advantage of this segment, with sandwiches, small plates, snacks, and plates to share.

But not making mistakes that are not traditional in terms of time and way of consuming does not mean that they do not value good service. They still like to be well taken care of after and feel they care about them.

They also choose a good atmosphere, so some restaurants adjust the lighting and combine it with different music. Others offer board games to encourage customers to have fun and relax.

Suppose you choose to open now; select staff with the necessary resistance. Select a team that does not mind the time or the type of audience.

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.

Web 2.0 encourages many companies to change their structure and to make their way to Enterprise 2.0. Then, the corporate culture is also put to the test.

Suppose you follow the current discussion of how companies can use Web 2.0 technology for themselves. In that case, you will notice that it parallels the knowledge management discussion at the turn of the millennium. Little has changed in most companies since then. Their culture has not changed, and the challenge of organizing knowledge has not been solved.

And now comes Web 2.0, and the companies should develop into Enterprise 2.0. Understandably, some managers approach this topic with reservations. Nevertheless, there is no way for companies to deal with the questions:

• To what extent does Web 2.0 technology change our environment? 
• To what extent can we want to, or do we even have to use them for our success?

Today, 98% of 15 to 29-year-olds use the social web as a source of contact and information – among other things, because they are fascinated by these hands-on technologies, the uncontrolled and domination-free exchange of information. These young men and women are not just the customers of tomorrow’s companies; they are also their future employees – unless they are already on their payrolls.

When it comes to social media, two worldviews meet:

• A mechanistic, deterministic worldview represented by most companies and
• A liberal, selfish worldview, represented by the (mostly) younger employees and customers

The meeting of these two mental images has created a sustained dynamic of change in many companies.

Change Management is Becoming the Standard

Classic, hierarchical organizational concepts are increasingly losing their integrating and controlling effects in companies because they were the answer to a society organized according to the division of labor. Today, in their rigidity, they represent the counter-concept to social reality and convey to many employees a feeling of senselessness that arises from a discrepancy between individual expectations and structural conditions.

It creates pressure for change in companies, which is no longer about reorganizing routines but instead initiating openness and flexibility. Change becomes the organizational standard because economic survival in modern times depends crucially on the potential for renewal.

However, employees only become innovative if they identify with the company. It presupposes that their resources are perceived and used appropriately. Usually, the structures in the companies do not follow the employees’ possibilities. Instead, the employees adapt to the existing inflexible systems. Working under these conditions makes sense for fewer and fewer employees. However, work perceived as meaningless does not create identification or motivation and is, therefore, neither innovative nor productive in the long run. It follows that a modern company organization must have variable structures. The adaptive effort must shift from the employees to the systems – and that is what happens when companies develop into Enterprise 2.0.

On the Way to Hypertext Organization

Open organizational structures are subject to the risk of only minimally integrating the organization’s members into the overall system. For this reason, when developing into a Web 2.0 company, the shared value base, i.e., corporate culture, has a central structuring function.

Study results show that open learning systems are unsuitable for all types of work. For routine work, hierarchical structures with defined disciplinary and professional leadership are the better choice. Hierarchical structures hinder only the project work, that is, work outside of familiar lines. Therefore, the central question in many companies is: How can we link hierarchical structures in our organization to perform routine work and open, network-like structures to perform tasks that require a high degree of creativity, flexibility, and cooperation? One concept for this is hypertext organization.

A hypertext organization sees itself as a network-like structure of logical connections. Different perspectives, points of view, and thus also links to a specific topic can be queried. Analogous to the design of the Internet, a hypertext organization is a collection of highly complex, linked hypertexts, which, in their structure, provide linked or linked knowledge with any increase in complexity, with as little redundancy as possible.

For this purpose, the hypertext organization combines three levels:

1. There is still the classic business system level with clear hierarchical structures for routine activities.
2. In addition, there is an “open” project level, highly innovative, with minor hierarchical assignments but clear technical goals.
3. A personal exchange occurs between the levels, depending on the project, administration, and routine work involved. The everyday basis is the shared knowledge made available via modern means of communication, such as an internet or intranet-supported database system.

Since all levels are logically interlinked, ideally, a dynamic knowledge cycle arises, which, on the one hand, guarantees the cohesion between free, innovative project work and routine administrative work and, on the other hand, prevents information deficits.

The advantages of this organizational form can be classified as follows regarding Enterprise 2.0 perspectives:

1. Depending on requirements, order situation, and environmental conditions, resources can either be developed by the business system level as a routine along with standardized procedures or new, innovative ways of resource procurement are evaluated on the project level.
2. Employees can contribute their know-how and information base, increasing and expanding through social media engagement.
3. Social media engagement of employees can be made connectable to existing routine processes.
4. With this organizational form, the company develops its culture and opens itself to operational social developments.

Such an organizational form, therefore, includes both clear, hierarchical structures and a permanently “open” structure with loosely connected, process-oriented work or project groups that open new, innovative potential. If these new products or processes prove their worth, they will integrate as standardized processes in the more hierarchically organized business process.

Determine the Degree of Maturity in Advance

Building a hypertext organization is a lengthy process that places high demands on the organization and its members. Therefore, it should determine the level of maturity of the company before the start of appropriate initiatives. 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.

Banking is something every financially responsible person will need to do at some point in their life. To gain financial literacy, you must understand the local, national, and global economy and your financial health. Here are the ways banks can empower clients and communities.

Education

Use accessible education to spread financial literacy between clients, both regular and potential ones. The term Financial Literacy is the most powerful tool for this work. However, financial literacy is lower in the United States; that is why Americans can make financial decisions confidently in real-world circumstances.

According to the research of FINRA, around 66% of Americans can answer only five questions related to the finance and economic aspects they experience daily. Those questions include:

• Interest rates and bond charges relationship
• Financial and economic inflation
• Risk and diversification laws
• Compound interest effects
• The impact that makes total interest payment term over a mortgage life

This is the best chance for banks to empower their clients regarding wealth and stability establishment. Around 10% of applicants put off their credit requests as they have a fear of request rejection. A Federal Reserve research study on the Economic Well-being of American households confirms this statistic.

You can’t avail of financial opportunities until you don’t have self-selected credit, as financial leverages need the highest credit history with a good credit score. It has a drastic influence on car purchases, house mortgages, educational opportunities, entrepreneurship, etc.

Banks should conduct financial literacy programs to empower communities and customers. Well-renowned banks have already started this campaign: First Republic Bank (FRB), Chime Bank, Citizen Bank, etc. FRB’s policy is to create such programs earlier, and they teach these sessions to elementary students through the portal. In this way, all learners become aware of all financial concepts for better decision-making in the future.

MyTrailhead is another financial literacy program to educate customers only. It is a platform where they learn financial experience rather than understanding the financial management system. Experts design this platform that fulfills all the requirements of the learners. With this program, banks provide onboard knowledge about finance to their clients via gamified learning. It also includes ranks, badges, points, etc.

Banks must make sure that financial literacy awareness is accessible from any device. Bankers can customize their content to meet the requirements of customers. You can also establish a specific module to overcome the CARES Act stimulus check’s expiration effect. You will also address the best way of smooth financial management to proceed with their account and money transaction activities.

Awareness

Checking up the financially weak clients is the core responsibility of all banks. Direct or online communication is the best way to solve problems, as discussion makes an effective solution. Banks can also share helpful tips with financial institutions to build relations with advisors who suggest ongoing and upcoming finances. They are the best helpers for making effective growth plans.

A well-known Ally Bank’s policies indicate how banks use marketing to spread financial literacy among clients. Also, these banks use different social media platforms like Twitter, Facebook, Instagram, etc. They post effective financial literacy content on these channels and share it with influencers to address financial wellness strategies during difficult times.

Clients build up their interests due to proactive communication. They get customized messages regarding the client’s unique preferences and situations. You can know customer preferences and behavior by considering client segments to learn valuable insights. It will help you in creating relevant messages for your targeted audience.

With these alerts, banks can update their clients about market variations with the tricks of being impacted. Create fundamental identity profiles after collecting data. You can then communicate with the targeted audience using message facility platforms and keeping people on track while delivering relevant financial and supportive information.

Access

What is next after expressing your existence in the market? People wish to access all desirable information anyway and at any time. You will have arranged something from where your clients and community members get complete knowledge about financial literacy. You can conduct different seminars regarding credit card applications and financial planning. Banks must have a responsive mobile application or a portal to access the desired information. 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.

Today, it is impossible for a business to ignore the importance of owning a website. This trend is indicative of the evolution of communication.

As of yesterday, traditional marketing was the main acquisition lever for most companies and brands. Now, it must recognize that it is digital marketing that prevails. Whether large companies or SMEs, all now have a website. Many also exist on social networks as well as on various digital platforms.

Just as communication rules have changed, customers’ behavior has also changed. The multiplication of connected media generates changes inhabits. The customer wishes to be informed without being the target of repeated and intrusive communication.

Faced with these changes, how are companies tackling these changes?

Fundamental Differences

Where traditional marketing aims to communicate in the broadest possible way, digital marketing tends to target the target audience as well as possible.

The prospectus, catalog, and television advertising have gradually given way to more targeted means of communication. Unfortunately, the old supports did not allow us to measure the relevance and effectiveness of the campaigns carried out. Only the turnover validated or not a strategy.

With the proliferation of digital media, online visibility has become a significant issue. Many companies have understood this and have developed solutions to reach a qualified audience. Unlike traditional marketing, digital marketing can deliver a message to a chosen audience, either by interest, age group, or socio-professional category. In other words, companies are trying to reach the right audience with the right message.

Cross-channel communication, for example, allows you to launch a campaign on different communication media. There is no shortage of social media, websites, YouTube channels, and mobile applications. Each one corresponding to a population segment makes it easy to adapt the message to make it relevant to everyone’s eyes.

Besides, analyzing the data generated by these campaigns allows us to measure their effectiveness and relevance. It is the way to adapt the communication according to the results obtained.

Adapting to New Rules

To survive in rapidly changing markets, companies must adapt. From human resources to commercial objectives, some companies must rethink their mode of operation and their organization completely. It is not uncommon, for example, to see the community manager position appear within the workforce. As the digital marketing market draws heavily on social networks, the presence of an employee able to master its work has become essential. They are often young and hold a certification stating their training.

The advent of this type of workstation is entirely due to this change in communication and marketing. Today, the digital premium.

Likewise, the sales teams evolve to adapt the strategy and the objectives to the new tools. Telephone prospecting, for example, is no longer as effective as it used to be. On the contrary, it has become a source of annoyance. Modern commercial prospecting takes many forms:

• Newsletter
• Inbound marketing: it is the art of attracting customers to yourself
• Community management: animation of communities on social networks
• Creation of a mobile application to stay in constant contact with the client

These are just a few of the tools that reach audiences and customers.

Tailored Techniques

When taking advantage of these changes, any business is interested in approaching the digital shift in a brutal and reasoned way.

Until recently, a simple showcase site was enough to exist on the web. Today, this is no longer the case. There are few sectors where this type of achievement is sufficient.

Given the fierce competition from specific markets, it becomes imperative to practice continuous competitive intelligence and draw inspiration from the most influential players. This is where growth hacking comes in. This method makes it possible to be inspired, even to use strategies the competitors have implemented.

This type of method happens because of data. It is all the data that is collected concerning the behavior of Internet users and mobile users. Without a proper interpretation of these figures, it is almost impossible to develop relevant and targeted communication. Without going into the dark side of pure and complex hacking, it is thus possible to take advantage of a lot of data accessible through tools to refine your communication strategy.

The goal is to have an audience as qualified as possible to ensure a good turnover. Too many companies want to develop their traffic. Unfortunately, it is not necessarily the number of views that counts but the number of users potentially interested in the products or services. Quality is more important than quantity.

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.