Author: Jennifer Brazer

Even with their solid academic background, some individuals find it challenging to outdo others in their profession. While some push past their challenges –others give in to the pressure, backing out from the struggles their professional life put them through.

In this case, the mindset has a crucial role to play, particularly the kind of mindset that keeps us growing.

The more you strive to learn, the better you grow. Your motivation levels elevate, and you set larger-than-life goals for yourself. As a result, your efforts turn you into a stronger individual – someone the employers would go the extra mile to have them work for their organization. Cut to the point, you become efficient in your job, achieving one milestone after another without any shortcuts. If you can’t relate, find the ways below to help you become efficient in your career.

Set a Vision for Yourself

When you set a vision for yourself, you find your efforts and goals more aligned. You become an organized employee, striving to reach your end goals. In this way, the work you do daily becomes the inspiration for the life you want to live in the future. Goals keep you motivated, and you get to face everyday challenges as just another opportunity leading you towards the vision you have set for yourself.

Celebrate Others and Their Achievements

There can be people achieving milestones when you find yourself barely getting by. Whether it’s the inefficiency in meeting your everyday targets or the daily hurdles you face in your job, you should never let your struggles disturb your mindset. Instead, ensure that you wish others the same achievements you want for yourself.

Go for Quality

Even if you receive innumerable awards for your performance, those would only be objects rotting on your shelf. Sure, the rewards and the appreciation you receive motivate you in the long run, and you strive to work harder to achieve more. But seeking to grow and learn in the process rather than going for the number of awards you receive is always a more innovative way to work. So, ensure you strive to improve the quality of your work. The chances are that the results will take you pleasantly by surprise.

Own Your Mistakes

One of the last things you should do when facing constant failures is not owning up to your mistakes. That is, owning your mistakes means setting some time aside for retrospection. When you retrospect – review the problems and errors you faced during your work, you better understand the reasons for your failures. It prepares you in the long run, and you do not have to repeat them the next time you face similar challenges.

Don’t Forget to Learn

When you are working and improving your performance – be sure to keep learning at the heart of your end goal. Precisely, your end goal should be to know rather than achieve milestones. In this way, you’ll become an efficient employee in an organization prepared to face almost any challenge.

You’re Beyond the Validations You Get

Most times, we seek validation from others. While there happens to be no wrong with that, you should always be sure and have confidence in your skills. The more you invalidate the validations you receive from others, the better you grow confident in your skin. One strategy to achieve this mindset is by striving to learn every day – and ensuring that you know your strengths and weaknesses. It leads you towards a path that grows you in unimaginable ways.

Precisely

When striving to cultivate a growth mindset, push past your fears. The more you hold back, the more inefficient you’ll be in your work, and all the everyday challenges will only scatter the potential you have within you. Other than that, be sure to show your true potential – face the challenge with utmost confidence, and you’ll find yourself achieving milestone after milestone in a relatively shorter period.  

There you have it, some of the most effective ways to cultivate a growth mindset. Tap these into your personality and grow confident in your skin. Chances are, performing efficiently in your job will become less hassle. 

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.

Technological advances and the rise of Internet connectivity now allow companies to explore various options for accessing capital. Previously, corporate sources of finance were limited to banks, other financial institutions, investors, family, and friends. However, with the emergence of online loans and crowdfunding, appraising and obtaining loans have become much easier for entrepreneurs.

The Participative Loan is More Flexible

For business loans, interest must be paid back over a specified period, and then processing fees. The application process can take several weeks, and the bank granting the loan can specify what credit can do.

In the case of the online participative loan, the repayment conditions happen through crowdlending platforms. The lenders take a small percentage of the funds collected as procession fees. The application process depends on the campaign duration set by the financing platform used. The crowdfunding requirements stipulate that the borrower informs his donors about using funds.

The business patterns of each dominant crowdfunding model: equity, rewards, crowdfunding, and charitable giving vary widely from country to country. The four crowdfunding models are almost evenly distributed in some countries, such as the United Kingdom. In other countries, one or two models dominate. The number of platforms based on the participatory loan exceeds the different media types.

Organize Your Crowdlending Campaign Well

Fundraising is a common concept in business today. However, before deciding on a borrowing mode, it is crucial to understand the needs of each particular business or project. Traditional business loans are needed to pay off debt with interest over time, while crowdfunding helps you organize your campaign as equity or as an investment in debt securities.

The latter is often known as crowdlending. Crowdlending allows you to sell part of your stake in the business to acquire funds. You can also suggest a type of reward for your donors.

The Advantage of Having Marketing Knowledge

Banks ask for business plans to understand how your business model aims to generate income to repay the loan. Although a business plan results from excellent planning, it does not call on profound marketing know-how. However, those who opt for crowdfunding must demonstrate good marketing knowledge.

Crowdfunding platforms often reject all funding if the business fails to reach its goal. Doing the necessary homework to attract people to your crowdfunding campaign is essential. There must be an element of intrigue in your campaign.

For Multiple Sources of Funding

In today’s business and marketing reality, crowdlending is a powerful fundraising tool. Traditional loans are becoming increasingly complex, and young entrepreneurs and innovative businesses continue to fight for equitable access to funds.

It has created an incredible demand for unconventional finance sources, making crowdfunding a delectable choice. However, it is reasonable not to depend on crowdlending as the sole source of fundraising.

Companies and project leaders must also explore other resources to obtain financial support. Armed with many sources, you can create a financially stable model for your business and avoid being overly dependent on a single basis of investment.

Tax Advantages

Only two sources offer you a tax benefit in return for small company investments. The resources are the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS). They help you balance the amount of investment against the tax bills. As a result, you gain all offers without the tax payment. But you have to take care of the terms and conditions, such as keeping your investment for a minimum time.

Major Perils of Crowdfunding

Crowdfunding is a newly introduced concept in the market. That’s why investment in its campaign can be risky. Some of its significant perils are as follows:

• There is no guarantee for an ideal return on investment
• The share sales can be quite difficult
• Crowdfunding platforms can destroy itself

Conclusion

In conclusion, the evolving landscape of finance offers entrepreneurs diverse options. Crowdlending, with its flexibility and marketing demands, stands out. However, it’s crucial to diversify funding sources, considering tax benefits and acknowledging potential risks.

While crowdfunding is a compelling tool, prudent business planning entails exploring multiple avenues to build a financially robust model, minimizing dependency on any single source. Awareness of tax advantages and understanding the perils of crowdfunding are essential for navigating this dynamic financial terrain.

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.

Did you know that between 50 and 70% of small businesses fail in the first 18 months of activity? Although this percentage varies according to the country, the branch of activity, the period, and the polling agency, the reality is not very far from that margin.

The purpose of statistics is not to frighten. According to a speaker at Harvard Business School in the United States, the lack of an adequate and realistic business plan is one of the leading causes of these failures. Therefore, knowing the common mistakes that new entrepreneurs incur is a good measure. This way, you can avoid misunderstandings of those who have tried before and minimize the chances of failing in your future decisions.

Eight Common Mistakes When Starting a Business

• Lack of capital for the initial investment, including working capital
• Unawareness of the market in which it will act
• Ignorance of the legal and tax responsibilities inherent in the business
• Lack of or limited technical knowledge
• Inaccurate analysis of the place of installation and commercialization
• Little or no marketing planning
• Financial unrest
• A mix of personal accounts with those of the company

How to Deal with Common Mistakes

Knowing common mistakes is essential, but you will not advance if you do not deal with them. According to Feres, the entrepreneur must study the market demands and plan adequately before starting a business.

“This initial planning is called a business plan, and it will analyze the market (customers, suppliers, and competitors), the necessary structure (physical and personnel), and, along with that information, the economic and financial viability of the future business. That is, will it generate income? At what time? How much? “Says the consultant.

After preparing a business plan, entrepreneurs must stick to their goals and invest correctly and prudently, avoiding acting impulsively and “spending more than it should.” In this stage of financial organization, it is also essential to evaluate if you will manage the business only or achieve partners and investors.

How do We Avoid All These Mistakes?

After learning all the mistakes and how to deal with them, it’s time to learn a procedure to avoid them. Here are some valuable tips you should avoid, as they can drain your efforts. Let’s have a look at what those are!

Start Everything with a Perfect Plan

Write a proper business plan if you are going to start your own business. This idea will help you organize all your new business proceedings well and keep everything under control. Try to avoid all mistakes, as mentioned above.

With a well-developed business plan, you will stay consistent in activities, including signing different contracts and primary goals. Remember, it must be detailed or overwhelming. Try to keep it simple and to the point. It will help you to lay out a strong business foundation to streamline your business.

Ask yourself a few questions, such as long- and short-term business goals, the level of your business headed, issues you are striving to solve, and staying on track. Portray the status of your sincerity and the seriousness level related to these future endeavors.

Understand the Market Well

While launching your new start-up and before jumping into any industry, you must have a perfect idea of the market around you. Create all your products and keep your services in the immediate area that will lie in your purchase interest. You will need to take the time to know your market standards, and you can do this by conducting proper market research.

Learn everything about the level of spending with an understanding of the current economic situation. This trick will let your customers buy what they can afford. Consider the impact of market ruling from finances to the latest trends.

Conclusion

All of these things must always be under your consideration. You will need to learn about your client base with time. Don’t scramble; you can make profound changes to attract different people to your business.

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.

Whether you’ve just started or have been operating your business for several years, managing taxes – such as GST, payroll, and income taxes – can be cumbersome.

You must have organization, preparation, and knowledge to declare your income correctly and make all your payments on time.

Here are some steps to help you effectively manage your company’s tax obligations.

Keep Accounts Separately

The accounts from the business and personal accounts must be separate. Keeping separate accounts helps avoid confusion when making tax payments and other legal obligations. It also helps render reports for the money that belongs to the business and enables you to keep track of the spending. Two separate accounts protect personal resources against debts and business expenses, should this not succeed.

Put Enough Money Aside

Many business owners, especially those just starting, do not know all their income tax obligations. To avoid blunders (or provide a cushion in the event of a miscalculation), it is always best to take a conservative approach to the percentage you set aside when receiving a payment.

You also need to know all the types of payments you will need to make. Here are some things to keep in mind:

• Know when payments are due.
• Postponing a payment can be strenuous for some homeowners whose business income fluctuates. Therefore, It is vital to be aware of deadlines and have a safety cushion.
• Businesses must file their tax returns by June 15 of each calendar year, but any amounts owing are due by April 30 or the next business day.
• Report the company’s revenue, not the payments received. The income declaration must be based on the invoiced amounts, not the costs received. For example, you must report the amount you billed for your services, even if your client has not yet paid you. That is why it is wise to set aside a sufficiently large percentage of the payments received to compensate for any discrepancy caused by receivables.

Estimate Tax Deductions to Which You Are Entitled

Many business owners forget they can deduct some of the expenses incurred for their home and car if they use them for work.

Calculate the percentage of the area of your home that you use for the job. Then apply this percentage to your electricity and gas bills, property taxes, and mortgage payments as business expenses. The same rule applies to your car: determine the rate of trips you make for work and deduct this percentage of your monthly loan or lease payments, maintenance costs, and gas bills from your income.

The ability to deduct a portion of the cost of housing and travel is a huge benefit for small business owners, but do not overdo it. Make sure the deductions you request are reasonable. For example, you may be suspicious if you say you spend 80% of your home area on your business and are an independent graphic designer or consultant.

Be Well Organized

When you receive a receipt, write the reason for the expense on the back. Thus, you will not have to appeal to your memories when accounting for your costs. Categorizing your receipts as you go is also a good idea. You will lose less time in the spring.

A great way to manage your business expenses is to use a corporate credit card: it allows you to keep your business expenses separate from your costs. Some software has options for importing your business credit card transactions and categorizing them automatically. For example, the Wave accounting software allows you to scan receipts to simplify the management of your business expenses.

Managing your taxes may seem complex, but if you maintain good records, budget for contingencies, and make reasonable use of the tax deductions you are entitled to, you will feel more confident and ready to deal with the time of the tax returns. 

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.

Finding the fittest business loan for funding can be a tedious task. You have many business investment options to find the most suitable one, including loans, grants, investors, etc. The application process and set of rules of each of them are different.

The business loan option is the fittest for small businesses, as it is easy to get. But borrowing money isn’t as simple as it seems. According to one of the research reports, getting relevant financing is difficult for 72% of small businesses. It is necessary to know investment options. It will help you select the correct type of loan that meets all your business funding needs. This way, you will learn how well you use funds.

The best type of business loan varies from business to another based on terms, qualifications, rates, and the nature of the loan. This article discusses six types of business loans from which you can select the one that suits your business the best.

Term Loans

The most common type of financing is that you get all the cash up front and then make payments according to the schedule and terms decided. The benefits of this business loan are that you get the money upfront and can invest accordingly. You have the power to borrow a considerable amount, too. However, its interest rates may be higher than the others, requiring a guarantee or collateral.

SBA Loan (Small Business Administration Loan)

SBA loans are different from term loans because SBA guarantees the loans the lenders provide. The repayment method and period vary and depend on the nature of your spending. If you borrow the loan for working capital, the repayment period is seven years; if you need to buy equipment, the period is ten years, and 15 years if you want to purchase real estate. The benefits are:

• The low interest rate.
• The power to borrow a considerable amount.
• Long periods to repay the amount.

However, qualification for this loan is complex, and the process for the loan application is lengthy. This loan is perfect for your needs if you want to expand your business or refinance your debts.

Business Lines of Credit

The business line of credit allows the borrower to withdraw cash up to the credit limit authorized to the borrower. The interest rate is charged only on the amount which has been removed. This type of borrowing doesn’t usually require collateral and is flexible. If you are conducting a seasonal business or want to meet unexpected expenses, this is the best type of loan for you.

Equipment Loans

As the name says, equipment loans help a business owner buy equipment. The loan term is usually equivalent to the machine’s useful life, and the equipment’s cost plays the role of the amount of loan borrowed. The equipment itself is generally taken as collateral. The benefit of this loan is that the equipment will be in your use even when put as a guarantee. However, equipment usually depreciates faster than the loan term.

Personal Loans

If your business is new with no operating history, you might find it challenging to get a business loan. In such a case, you can get a personal loan. However, you will need a good credit score to qualify for the right personal loan amount. However, you can only get a small amount to own a business loan. Moreover, failure to repay it will end up hurting your credit score. If you have a good credit score and are a startup, this is the best type of loan you can go for.

Business Credit Cards

These cards are becoming popular day by day. Just like personal credit cards, you can make business purchases through them. Whenever needed, take out the map and make the payment. It is like a portable line of credit that you can carry around. Remember to make the minimum monthly payment and don’t make massive purchases on it. You might get rewards for shopping, and no collateral is required. However, there are several fees attached to it.

It is the best form of business financing if you want to pay for ongoing business expenses instead of going for something big.

Conclusion

All the loans listed above are well-suited to all forms of business. Pick up the type of loan that suits your needs and your business and apply for it!

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.

By: Jennifer Brazer

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.

Fact Checked By: Brittany McMillen

Understanding Trade Deficit: Causes, Effects, and Solutions

A trade deficit occurs when a country imports more goods and services than it exports, creating a negative trade balance that impacts employment, currency values, and economic growth. This imbalance stems from factors including currency strength disparities, consumer demand patterns, and production limitations, while triggering cascading effects on wages, innovation, and national competitiveness that demand strategic policy solutions.

Running Complete Controller for over two decades has given me a front-row seat to how trade deficits ripple through local economies—I’ve watched manufacturing clients lose 30% of their workforce to import competition while others thrived by pivoting to export markets. The U.S. goods trade deficit hit a staggering -$161.9 billion in March 2025, driven by a 5% monthly surge in imports, proving this issue affects every business owner reading this article. You’ll discover the root causes driving these imbalances, quantify their real impact on jobs and innovation, and walk away with a proven roadmap to navigate trade challenges in your own business.

What is a trade deficit, and how does it work?

• A trade deficit means: imports exceed exports, creating a negative balance of trade
• Trade balance calculation: Total Exports minus Total Imports equals Trade Balance
• Negative result: indicates more money flowing out than coming in through trade
• Currency impact: sustained deficits often weaken domestic currency values
• Capital flows: deficits require foreign investment or borrowing to balance accounts

The Mathematics Behind Trade Deficits

Trade deficits represent the fundamental equation of international commerce: when total imports exceed total exports, the resulting negative trade balance reflects money flowing out of the economy. The calculation remains straightforward—subtract total exports from total imports—but the implications ripple through every sector of the economy.

Currency markets respond predictably to sustained trade deficits. A persistent negative balance of payments weakens the domestic currency as foreign exchange reserves dwindle, making imports progressively more expensive while theoretically boosting export competitiveness. This self-correcting mechanism often fails when structural issues prevent domestic production from capitalizing on currency advantages.

Key Drivers: Why Trade Deficits Happen

The causes of trade deficit formation extend beyond simple supply and demand dynamics into complex interactions between monetary policy, consumer behavior, and global production networks. Understanding these drivers helps businesses anticipate market shifts and adjust strategies accordingly.

Macroeconomic catalysts

Strong domestic currencies create the paradox of prosperity—while citizens enjoy enhanced purchasing power for foreign goods, exporters struggle to compete in global markets. The U.S. dollar’s reserve currency status exemplifies this challenge, maintaining artificial strength that persistently favors imports over exports.

Consumer demand patterns amplify currency effects when economic growth outpaces domestic production capacity. Americans spent record amounts on imported electronics and consumer goods in 2025, with imports surging 55.5% as businesses stockpiled inventory ahead of anticipated tariff changes.

Structural and policy factors

Production gaps emerge from natural resource limitations and climate constraints that no amount of industrial policy can overcome. The U.S. imports oil despite domestic production because geography dictates resource distribution, while tropical products will always require importation to temperate zones.

Trade liberalization without reciprocal market access creates asymmetric competition. When tariffs fall unilaterally, domestic producers face international competition while their potential export markets remain protected—a dynamic that devastated U.S. manufacturing employment.

The Ripple Effects: How Deficits Reshape Economies

The effects of the trade deficit on the economy extend far beyond abstract statistics into tangible impacts on communities, innovation capacity, and long-term competitiveness. These consequences compound over time, creating feedback loops that entrench imbalances.

Labor and industry devastation

U.S. trade deficits with China eliminated 3.7 million jobs between 2001-2018, with 2.8 million losses concentrated in manufacturing—electronics alone accounting for 36% of displaced workers. These aren’t just numbers; they represent entire communities losing their economic foundation.

The impact of the trade deficit on jobs extends beyond direct displacement into wage suppression across entire sectors. When manufacturers close, remaining employers gain negotiating leverage, pushing down compensation even for workers whose jobs survive. Manufacturing wages stagnated for two decades as import competition eliminated middle-class career paths.

Innovation and long-term competitiveness

Persistent deficits trigger a devastating innovation spiral—reduced domestic production means fewer opportunities for learning-by-doing, less investment in R&D, and diminished technological advancement. Swedish research demonstrates this connection starkly: a 20% tariff on exports reduced R&D spending by 13.9% in high-tech industries.

Chronic deficits deepen foreign debt dependence, with the U.S. owing over $2 trillion to trading partners. This debt servicing diverts resources from productive investment while creating vulnerability to foreign policy pressure—economic sovereignty erodes alongside industrial capacity.

Solutions: Pathways to Balance

Trade deficit solutions require coordinated action across monetary, fiscal, and trade policy domains. Successful interventions balance protecting domestic industry with maintaining beneficial international relationships.

Policy interventions that work

Dynamic tariff systems automatically adjust rates based on bilateral trade balances, creating market incentives for equilibrium. Complete Controller advised a metals manufacturer who benefited when 2025 U.S. tariffs narrowed the China deficit by $1.8 billion in one month—proving targeted protection works without destroying trade relationships.

Currency exchange rates offer another lever when coordinated internationally. The 1985 Plaza Accord demonstrated this approach’s effectiveness, with G5 cooperation cutting the U.S. trade deficit by two-thirds through 1989 via dollar devaluation and fiscal coordination.

Economic restructuring for competitiveness

Export promotion through tax incentives and infrastructure investment builds sustainable competitive advantages. Countries succeeding in global markets don’t just protect domestic industry—they actively cultivate export champions in high-value sectors.

Import substitution strategically reduces dependence on foreign suppliers for critical goods:

• Pharmaceutical production capacity
• Semiconductor manufacturing
• Renewable energy components
• Food security infrastructure

Case Study: The U.S. Trade Deficit Crisis

March 2025’s record -$161.9 billion goods deficit exemplifies how quickly imbalances can spiral. Pharmaceutical imports from Europe and electronics from Vietnam drove the surge as businesses front-loaded purchases before anticipated tariff increases.

The immediate response proved selective tariffs’ effectiveness—China-specific measures reduced that bilateral deficit from $26.6 billion to $24.8 billion within 30 days. However, trade diversion to other countries partially offset gains, demonstrating why comprehensive strategies outperform piecemeal interventions.

Manufacturing job losses accelerated in metals and machinery sectors, validating decades of warnings about deindustrialization’s consequences. Communities dependent on these industries faced cascading failures as supplier networks collapsed and service businesses lost customers.

Strategic Roadmap for Deficit Reduction

Practical implementation requires sequenced actions that build momentum while avoiding economic disruption. This 90-day framework provides a starting point for policymakers and business leaders.

Phase 1: Assessment and preparation (days 1-30)

• Audit import dependencies using tools like Trade Economics API
• Identify critical vulnerabilities in supply chains
• Calculate domestic production capacity gaps
• Model tariff impact scenarios on costs and competitiveness

Phase 2: Policy implementation (days 31-60)

• Launch export subsidies for competitive sectors
• Implement 10% baseline tariffs on non-essential imports
• Negotiate bilateral agreements for balanced trade
• Establish monitoring systems for real-time adjustment

Phase 3: Optimization and scaling (days 61-90)

• Adjust tariff rates based on initial market response
• Expand successful programs to additional sectors
• Coordinate with trading partners on currency alignment
• Communicate progress to maintain public support

The Innovation Dilemma: Productivity vs. Deficits

Research confirms the brutal trade-off—each 1% deficit reduction correlates with 3% higher R&D spending, fueling long-term growth. Complete Controller clients who reinvested tariff savings into innovation funds averaged 22% productivity gains within 18 months.

Breaking this cycle requires intentional policy design that channels protection into progress. Temporary tariffs must include sunset provisions tied to competitiveness metrics, forcing protected industries to innovate rather than stagnate behind trade barriers.

Final Thoughts

Twenty years guiding businesses through economic transitions taught me that trade deficits aren’t abstract policy debates—they’re daily realities affecting hiring decisions, investment plans, and community futures. The solutions exist, proven through historical precedent and contemporary success stories, but implementation requires courage to challenge entrenched interests.

Start by auditing your own supply chain’s import exposure and identifying substitution opportunities. Small pivots today prevent tomorrow’s crises while positioning your business for the reshoring wave already building momentum. For personalized guidance navigating these complex waters, visit Complete Controller where our team stands ready to chart your course toward sustainable growth.

Frequently Asked Questions About Trade Deficit

Does a trade deficit always harm the economy?

Not necessarily—short-term deficits can signal strong consumer demand and economic growth, but sustained imbalances risk debt dependence, job losses, and reduced innovation capacity that undermine long-term prosperity.

Can tariffs eliminate deficits?

Yes, when dynamically adjusted—U.S.-China tariffs in 2025 cut the bilateral deficit by 7% in one month, though comprehensive solutions combining tariffs, currency adjustment, and export promotion prove more sustainable.

How do exchange rates affect deficits?

Weak currencies boost export competitiveness by making domestic goods cheaper internationally, while strong currencies increase import attractiveness—the Plaza Accord’s coordinated devaluation demonstrated this mechanism’s power.

Are trade deficits linked to inflation?

Indirectly—currency devaluation from sustained deficits raises import prices, potentially fueling inflation, while domestic production constraints from deindustrialization reduce supply flexibility.

What role does GDP play?

High GDP growth often widens deficits as prosperity increases consumer spending on imports faster than export capacity expands—managing this relationship requires intentional industrial policy.

Sources

• American Compass. (2023). “Eliminate the Trade Deficit.” www.americancompass.org/trade-deficit
• Bureau of Economic Analysis (BEA). (2025). “U.S. International Trade in Goods and Services.” www.bea.gov
• Council on Foreign Relations. (2017). “The U.S. Trade Deficit: How Much Does It Matter?” www.cfr.org/backgrounder/us-trade-deficit
• Economic Policy Institute. Scott, Robert E., and Mokhiber, Zane. (2020). “Growing China Trade Deficit Cost 3.7 Million American Jobs.” www.epi.org/publication/growing-china-trade-deficits-costs-us-jobs
• Economic Policy Institute. (1998). “U.S. Trade Deficits: Causes, Consequences.” www.epi.org
• Finance Strategists. (2023). “Trade Deficit | Definition, Causes, Effects.” www.financestrategists.com/trade-deficit
• Financial Times via PIMCO. (2025). “The Real Lessons From the Plaza and Louvre Accords.” www.pimco.com/insights
• Investopedia. (2025). “Trade Deficit: Definition, When It Occurs.” www.investopedia.com/terms/trade-deficit
• MasterClass. (2022). “Trade Deficit: Definition, Causes, and Economic Effects.” www.masterclass.com
• National Bureau of Economic Research. Maican, Florin G., et al. (2020). “The Dynamic Impact of Exporting on Firm R&D Investment.” www.nber.org/papers/w27986
• Trading Economics. (2025). “United States Goods Trade Balance.” U.S. Census Bureau. www.tradingeconomics.com/united-states/goods-trade-balance
• Trading Economics. (2025). “US Trade Gap Reaches New High.” www.tradingeconomics.com/united-states/balance-of-trade/news/457690
• Wall Street Prep. (2024). “Trade Deficit | Economics Definition + Examples.” www.wallstreetprep.com
• Wikipedia. “Trade Deficit.” en.wikipedia.org/wiki/Trade_deficit

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 is a popular trend in renowned brands to serve their customers as best as possible and maximize their satisfaction. You might be wondering why they constantly need to provide them with excellent customer service when they are already famous. They consider their consumers an asset responsible for their success and failure. They will leave the brand if they don’t please users with their outstanding service. If you want to stand out, you must ensure excellent social customer service.  

What is Social Customer Service?

It’s a tactic of supporting consumers using social media platforms. These services may include complaint resolution, response to questions, guidance, and refund issuance through social media. Social customer service is a marketing strategy to market your brand by offering a great user experience.  

Social media platforms, such as Facebook, Twitter, Instagram, and others, act as a medium of conversation between buyers and suppliers. Other than interaction, these platforms witness the exchanges between consumers and online suppliers.

Customers are more attracted to a business offering reliable and fast service. For most companies, it’s easy to resolve user queries through these social channels.

Ways to Provide Excellent Social Customer Service 

Respond quickly

Time is essential in delivering consumer service, especially when the client’s query is time-sensitive. Would you prefer a product from a brand whose social customer service is slow and takes 10 to 12 hours to get back to you? Obviously, no.

Similarly, people will stick to that brand if a brand typically replies to users’ queries within 2 to 4 hours. Quick response makes your buyers feel like you value them and want to resolve their issues.  

Know your consumers 

Strong bonding begins with understanding your customers’ needs and demands. Brands must keep in mind that consumers usually like personalization. While interacting with users, try to remember their names and previous conversations.

If you can’t remember their old conversations, it’s better to take notes to help you recall them. Taking yourself to your buyers’ level is a sign of excellent social customer service that most users appreciate.

Correct your mistakes

Not admitting your mistake in front of your consumers may result in the bad reputation of your brand. If you want to build a positive brand image, then keep your processes transparent to your customers. To achieve high-quality outputs, you need to maintain high-quality standards.

If you make a mistake, don’t lie in front of customers; instead, build their trust and take responsibility for your actions. Corrections are also an essential part of delivering outstanding social media customer service.

Listen to your users

Just think, once you tell someone your problem, their attention fades away, and it will surely disappoint you. Paying attention to your customers will make them valuable and give you loyal brand consumers who stick to them. Listening to and resolving their queries will build their trust in your business.

Keep active

Keeping your profile active on social channels is critical in delivering excellent social customer service. It doesn’t mean posting regularly or chatting 24 hours; instead, keep your audience engaged. Don’t be afraid to go beyond the designed goals; grab every opportunity to expand your business while utilizing social media customer service. You can share your everyday experiences on your business profile to deal with them personally.

Friendly attitude

Maintaining a friendly attitude is one of the most critical factors in delivering the best customer service. Try to greet customers by asking them for their recommendations.

Thank your customers

A simple thank you note is enough to make your buyers happy, and users mostly remember this kind of gesture. You are thanking them after every transaction, which is the most common way of delivering social media customer service. There are also some other ways that you may consider pleasing your consumers.

• Handwritten Thank you note – Giving a handwritten thank you note is the best way to show your customers gratitude personally. Moreover, you can also email them thank you cards in this digital era.
• Free samples – Offering free samples of your brand to your customers is another best way to appreciate them. It makes your buyers happy and helps you promote a new product in the market. If you offer them a product for free, there are higher chances they will shop again from you.
• Add something extra – Adding candies, sweets, or anything extra to your buyers’ package is also a way of thanking them.
• Discount – You can apply this technique to loyal customers who buy your products. By giving them a special discount, they will not only feel valuable but will shop again.

Nowadays, businesses are more concerned about delivering high-quality social customer service to their users. Excellent consumer service attracts loyal customers to your brand and makes your brand reputable and trusted. You can scale up your brand’s image by following the above-described ways. 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.

Both the high and low levels of unemployment are damaging to society. If the unemployment level is high, an economic recession is in the process. Companies are trying to reduce costs to increase the process of laying off their employees.

The economy is not as good as it should be. On the other hand, the low level of unemployment indicates that the economy is thriving. Almost everyone is employed, and if the position is available in a company, they might find it hard to employ new individuals, which might give rise to the cost of salaries and remuneration. The competition in the market will begin regarding the wages of such a position.

Unemployment is when many people are kicked out of a job or unwillingly not employed. This situation is due to many factors. There are multiple types of unemployment. Therefore, all the types of unemployment are categorized depending upon the causes that boost it.

Unemployment and its History

The unemployment tracking process in America has been continuing since 1940. 1933, this rate increased during the Great Depression to nearly 24.9%. During this period, the unemployment rate was above 14%. When it rose above 10%, that rate dropped and remained the same until 1982.

2009, the employment rate was more than 10% during the Great Recession. The global pandemic of 2020 has severely affected the employment rate. The lack of job vacancies increases the speed by 32.1%. During the Great Depression, this score is the level that is higher than the peak point hit.

Types of Unemployment

Based on the reasons and causes, unemployment is categorized into several types.

1. Transitional unemployment

As the name says, when an individual switches jobs from one to another, he takes a period to stay at home and rest. This period of unemployment is referred to as transitional unemployment. It doesn’t have any hit on the economy.

2. Frictional unemployment

When a company lays off the employees, it takes them a short time to find another job. This time is called frictional unemployment, where the individuals are unwillingly unemployed.

3. Structural unemployment

Unemployment emerges because of a considerable change in the economy’s structure, specifically, the decay and crumple of ventures that used to be real managers. For instance, there may be structural unemployment because the mining business utilizes numerous individuals. However, it is currently in decay. When an industry goes into the decrease, and vast quantities of individuals are made unemployed, the outcomes can be intense.

Finding new employment in different enterprises for all the unemployed specialists can take quite a while. There may be an interest in working in various enterprises and other parts of the nation. However, the unemployed individuals who are accessible for work are of the wrong kind, have terrible skills, or are in the wrong piece of the government and would prefer not to move their home.

4. Technological unemployment

When a new technology shows up, or an industry goes through a stage of adopting a particular set of technology, it reduces the cost of the company by laying off the individuals whose services are no longer needed in the company due to the replacement of their work with the machines and other forms of technologies. When such advancement strikes, many people are left unemployed. Unemployment may be a short-term process or a long-term one.

5. Regional unemployment

Regional unemployment occurs when individuals from one region refuse to move to another province to get a job. Many people are reluctant to move to another place when the jobs are low in a particular area.

6. Seasonal unemployment

This type of unemployment usually occurs in the agricultural industry, where the sales and profit related to the sale depend upon the season. Most farmers become unemployed when the season of their crops is out. Such unemployment is seasonal unemployment.

7. Cyclical unemployment

It is related to the economic recession. When the country falls into financial distress, the companies start to lay off their employees, causing massive unemployment. This unemployment is caused mainly due to the economic cycle and its fluctuation.

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.

Undoubtedly, eBooks play a crucial role in your content marketing strategy. EBooks are the best options to drive traffic to your website, generate leads, or earn revenue. E-commerce is a battlefield where eBooks are a sustaining element. The field of e-commerce is a battlefield, and, in this battlefield, eBooks can be used as an element to sustain. eBooks in content marketing show your brand’s trustworthiness by considering and catering to your customers’ questions. Before proceeding to how to use eBooks to improve content marketing, you must know why you need them.  

Reasons Why You Should Use eBooks in Content Marketing Strategy?

• Generate leads

eBooks to drive your business towards lead generation because PDF books are attention grabbers. They comfort their target audience by allowing them to read it anywhere, on any device, and in any position. You don’t need to sit still to read an eBook; thus, for this reason, eBooks get higher clicks, resulting in lead generation.

• Drive potential customers toward your business 

eBooks allow your customers to learn about your business, software, or websites. They can check out how user-friendly your software and website are. This fact builds customers’ trust in your products and services, which gives your business potential customers.

• eBooks provide valuable information to customers 

Although blogs and articles help readers perceive useful information, eBooks offer detailed information. eBooks hold a particular place in content marketing and make your content marketing strategy effective.

• Quick to create 

eBooks don’t take too much writing time; they need detailed information. Once you have selected your ebook topics, they will only take weeks to complete instead of months, like printed books.

• Convenient for readers 

eBooks are suitable for readers and publishers, as you can publish them in any format, and your reader can read them on any device. You can post them in standard designs or make them available in PDF files.

• Increase sell

Consumers usually resist advertisements, especially when searching for valuable information. Using eBooks in your content marketing strategy can attract customers to your website and make them believe there are no ads or sales pitches. There is still a sales opportunity for you by giving them the required information so that they can evaluate the effectiveness of your business.

Ways to Use eBooks to Improve Content Marketing 

Below are some ways to help you make your content marketing strategy effective through eBooks.

• Landing page

You can create a landing page on your website that will drive traffic towards your eBook, resulting in more downloads. You must brainstorm ideas and conduct thorough research to gain readers’ attention. You can link the landing page to a payment site for prepaid eBooks. Don’t forget to add sharing options to your landing page.

• Website promotion

You can use your website for eBook promotion rather than other platforms in your content marketing strategy. By optimizing your website content, you can get higher clicks and downloads. You can either place a pop-up banner of your eBook in your content, add a download eBook tag in your Call-to-Action (CTA), or add a slide for the homepage option.

• Supporting content  

After completing your eBook, you must create a few blogs related to your eBook topic. You will give readers some fundamental insights into your eBook, build their trust, and enable them to download it. SEO content is also an excellent option to increase your website traffic. By creating supportive content, you provide your readers with the reasons why they need to download your eBook. Besides creating a blog post, don’t forget to add a CTA for downloading an ebook at the end of your blog post.

• Tools to make eBook go viral 

Viral content Bee grabs the readers’ attention immediately and can be used as a promotional tool. It also lets you choose which platform you want your content to go viral. Other than the Viral Content Bee, pay with a Tweet is also valuable for making content viral. Moreover, this tool gives free access to your eBook content through a social media post on Facebook, Twitter, Linked In, etc.

• Use social media platforms

You can improve your eBook content marketing strategy by including social media platforms in your promotional campaigns. Teasers on social media might be effective, as they will attract customers to your eBook content. Your teasers can contain how-to guides, regular tips, facts, quotes, images, and videos relevant to your eBook’s content.

Ultimately, content marketing is a vast field that requires sound knowledge, relevant experience, and an effective strategy. However, you can improve your content marketing strategy through the above-explained ways.  

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.

Starting your own business is not an easy task. Ask us, but still, some wake up and decide to start their first company every day. Sometimes, it happens by accident; other times, it is a lightning idea, and sometimes it happens almost unintentionally (as the song says), but no matter how it happens, whoever starts a business will continuously be bombarded by all kinds of advice.

Mashable magazine recently published the five worst tips that You can give to an entrepreneur. Here we leave them:

Hire People You Know

It is better known harmful than well to learn to say the saying, and in this case, it is precisely that advice that many will give you initially. The problem is when things do not work with the ominous name, and you find yourself in the dramatic situation of asking your uncle, cousin, or brother-in-law to pick up his things and clean his desk.

The Market is Saturated

It is not always accurate since the success of a business lies not only in the market but also in its positioning and in the client to whom it speaks. If you don’t believe us, ask yourself why our grandparents drink coffee at Sanborn’s and we at Starbucks.

In the Beginning, You Must Charge Cheaper than the Others

Many companies do this when facing large companies, believing that reducing costs will allow them to compete and offer customers a better option. The problem arises when this cost reduction fails to generate profits.

Social Networks are Free

Getting an account on Facebook, Twitter, or Instagram is indeed free. Still, nobody thinks about the work that involves keeping these accounts with constant, creative, and valuable activity. The cost may not be monetary, but if you plan to do it yourself, you must invest time and other resources.

Establishing a Fancy Office

Entrepreneurs’ biggest mistake is establishing a fancy office that keeps them busy rather than focusing on other productive things. It is suitable to spend money on the infrastructure of your home-based office. But buying lower quality items like laptops and delivering lower quality work leads to the worst consequences. Maybe you must wind up your work. If you want to be perfect in your office proceedings, you must give your best work.

Outsourcing All Your Work

Primarily, entrepreneurs strive hard to make maximum sales and grow their businesses well. They must outsource their work, but they don’t know the result. In the end, they found poor quality output for customers, bounce rate, lost opportunities, and a significant drop in profit.

Outsourcing your business work saves you time and helps you use your trade name with a white label. But it can be the worst recipe for your business’s timeless success. So, it is better to make the team based on quality members. Build a strong foundation that helps them provide the client with the best quality of work. However, it is not easy as you must face and manage many perplexities.

Work Only to Get a Sound Profit

Many companies have a core wish to get extra profit. They use multiple strategies to attract lots of clients. Business owners believe they can sell in the first five years and earn a more significant profit. It reduces the efforts of making investors and employees happy. Also, it is a highly unrealistic practice, builds myopia while making decisions, and raises more questions about passion and commitment.

In this way, business owners pressure employees to keep their clients happy as the workload increases. If we talk about content writing, there are many things upon which writers must write according to the client’s mind. Whatever they write, the customer must be satisfied with their work. As a result, unrealistic expectations and short-sightedness occur. There is no long-term commitment to employees and clients. As a result, they must face adverse effects at an extreme level.

 

Every entrepreneur must be serious while making business decisions. Make sure each of your ideas will never get you in trouble. Don’t hire someone who knows you well; keep all your social media accounts paid. Avoid outsourcing your work, as you will have harmful consequences. Never let your employees feel less than your clients; try to keep all of them equal.

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.