Author: Complete Controller

Logistic businesses are expanding not only on the local level but also on a global scale. Everything we use in day-to-day life is transported from one place to another within the supply chain cycle. It is where you can step in and earn excellent profits.

While getting into the industry is not challenging, staying successful in a logistics business may face the most difficulties. Since you are starting your business post-pandemic, you need to focus on creating strong business plans and strategies. Your plan should be strong enough to lay the firm foundations of your business. 

Whether starting from a lorry or a mini-loader truck, you must be well-prepared for the competitive industry. Stepping into the logistics industry does not have any strict requirements, but it is tricky to maintain your position in this field. But nothing is impossible if you’re taking suitable approaches and working on your business plan efficiently.

As you begin to plan a logistics business, make sure to focus on things you need to learn, focus, and acquire before you launch. Prioritizing and neglecting stress and challenges in the later stage is essential. Take these steps and kick off your logistics business.

Decide Your Specific Transport Niche

Before you begin your logistic business, you first need to set your goals and define your target audience. Which niche to choose? Because there are multiple types of logistics companies in the industry. Please select one of them to become a titan of your field.

The best part about this industry is its countless options. You can start anything from logistic corporations to medical transport services. Choose one niche and try not to become the jack of all trades. Why? “Jack of all trades, master of none.” If you are unsure which niche to choose, research what is in demand in your area and then decide.

Develop a Strong Business Model

Once you have chosen the niche, learn all about it. It’s time to make the business strategy, specifically, a business model. When structuring your business, the model helps define the company’s workflow. When it comes to structuring a business model, you have quite a few options – sole proprietorship, limited liability partnership, and limited liability company.

• Sole proprietorship – it offers flexibility. You can either work as a partner or as an individual. The only downside is that the company’s loss impacts an individual’s financial situation.
• Limited Liability Partnership – you have an opportunity to work with others. In this case, each partner assumes equal risks and divides debts equally. All partners need to make decisions together.
• Limited Liability Company – if you operate as an LLC, you and your company are two separate things. Any business losses will not impact your personal finances.

Apply for License and Permits

When you begin your business, you need to have a suitable license. It would help to have many licenses and permits because you work with different people, passengers, and cargo companies. Here is the list of licenses and permits you will have to acquire to set up a logistics business.

• Commercial driver license
• Fuel carrier license
• Heavy load or cargo permits
• Insurance coverage for drivers, sound, and passengers

Consider Maintenance and Recertifications

When owning a logistics business, you must consider future challenges and possibilities. Maybe your services are new, but long-term usage requires quality and safety. Keep up with the routine maintenance to ensure your audience doesn’t have to pay for low-quality services.

Do regular inspections keep a check on your logistic business certifications? Try to manage in a way that your business functions smoothly. It is easy to overlook minor details in day-to-day operations. Setting up reminders for updating and maintenance prevents many obstacles.i. 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.

People are moving towards solar energy sources instead of the electricity provided by the powerhouses. But what exactly is solar energy? Solar energy is the radiant light provided by the sun, which can be converted into electricity. That electricity helps to power the electrical appliances and lighting systems.

Systems powered by solar energy can free you from the trouble of electricity down or power failures in the town. Whether you have a big meeting coming up or have to get dressed for a party, with a solar energy system, you can take things at your own pace without any worry. Solar energy has made the lives of people easy.

There are five types of solar energy:

• Photovoltaic Solar energy
• Concentrated Solar energy
• Water heating solar energy
• Solar Pool Heating
• Thermal Solar energy

So now, let’s address the elephant in the room: is investing in solar energy systems beneficial or disastrous in 2021? Let’s dive into the pros and cons of solar energy. Many people think it’s beneficial, while some say it’s not. First, let’s get right into it so that you can decide for yourself.

Advantages of Solar Energy

Reducing the electric bill

The first advantage in everyone’s mind is the reduced electricity bill. When you opt for solar energy, you will see a significant drop in your electric bill. You will save a lot of money when installing the solar energy panel in your home.

Many states require utilities to offer net metering, which reduces the electricity cost with the solar system’s energy. Such a system helps when you are running low on income and can’t handle the significant amount of electricity bills.

Solar is cheap

Another advantage of solar energy is that it’s the cheapest option available. We know that electricity prices continue to rise, touching the skies, and solar energy prices keep decreasing.

The rate that the respective people have noticed is that 70% of the cost has fallen over the past years. This invention has made the lives of homeowners easier than before. Another advantage you can take of the solar incentives is installing a solar system by the end of 2022; you can get a 26% federal tax credit.

Seeing a return on your investment

If you think solar energy can only reduce your electric bill, my friend, you are wrong. They can also make you earn a little extra money. As said above, through net metering, you provide excess power to your solar energy systems to generate utility.

Many states have incentives such as Solar Renewable Energy Credits (SRECs) that can make you earn hundreds of dollars annually. Of course, it also depends on where you live. All your earnings from saving the electricity bill, net metering, and other incentives can help you pay back the cost of your solar energy system.

So, these were the advantages of the solar energy system. Now, let’s move on to the disadvantages of solar energy.

Disadvantages of Solar Energy System

Intermittent energy sources

The solar energy system is an intermittent source; why? There are three reasons behind it.

1. The sun doesn’t rise at night, so the solar panel can’t generate power at night
2. The intensity of the sun’s rays varies with location, time of the year, and day.
3. Clouds and snow have a significant effect on solar energy systems.

People raise these factors when someone tells them to invest in solar energy systems for their homes. As time passes, these things are changing, and cost-effective batteries are in the process of making the solution to these problems. The homeowners can save the battery and store it for use at night.

Solar Energy Systems Require Space

Another disadvantage of the solar energy system is the space it needs. The house owners can use the roof to install the solar energy system. But when you look at the large grid-scale solar systems, you will know that space can become a big issue for people.

Solar energy systems have low power density, meaning they need a larger area to generate the same amount of solar energy as a coal plant.

Solar Energy Systems Can Move With you

The day you decide to move to another house or state, you will realize that you can’t move your solar energy system with you because it will cost you a fortune. The net metering agreement you signed with your utility is fixed on your property. And finding people who can uninstall and reinstall the solar energy system will cost you dollars.

So, these were the advantages and disadvantages of the solar energy system. Please install one so that you can save up money for later. The sooner, the better. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

It’s become increasingly clear that cryptocurrency is the future of money. Still, some prefer a more traditional means of exchange. Businesses worldwide are changing all of their transactions to cryptocurrency to maximize profits and improve business acumen.

However, cryptocurrency has exceeded its expectations quite significantly in the last few years. For starters, several kinds of cryptocurrencies are available on the market. One of them is the Vancouver Bitcoin.

Vancouver Bitcoin aims to combine the new with the old by offering a more human element to trading cryptocurrency. Here, we discuss how Vancouver bitcoins can be the future of cryptocurrency and how businesses can expand.

A Human Touch For a Digital Age

Vancouver Bitcoin is a brick-and-mortar currency exchange where clients can trade paper cash for virtual cryptocurrency. Trading in crypto can be a daunting and unfamiliar experience for many. Agents at Vancouver Bitcoin are waiting to help traders, both new and experienced in the cryptocurrency market, with their every need.

Unlike other digital services, their customer service doesn’t use automated voices or chatbots. Vancouver Bitcoin connects customers to experienced and knowledgeable customer service representatives who can assist each customer with their specific needs; this fosters familiarity between the client and the company.

What Does Vancouver Bitcoin Offer?

At Vancouver Bitcoin, anyone can set up a virtual wallet or use one they already own. They can buy and sell not just Bitcoin, as the name suggests, but other virtual currencies as well. Customers can choose to add to their digital wallet or cash out and leave with money in their hands. Transactions are carried out instantaneously.

Vancouver Bitcoin’s website also features helpful guides that can teach new traders about the cryptocurrency world, how and when to trade, etc. Their encyclopedia provides a comprehensive list of technical terms anyone must know to navigate the cryptocurrency market.

A Rising Threat, an Unlikely Savior

Such a service has proven to be more essential now than ever before, as it offers clients and traders a level of security not usually found online. Last month, Vancouver police announced that victims of a cybersecurity attack had lost a staggering $2 million. Vancouver Bitcoin is licensed by Canada’s Financial Transactions and Report Analysis Centre to protect its customers from such losses.

While other players in the crypto-exchange market move further toward an all-digital future, Vancouver Bitcoin is Canada’s last line of defense in the fight to keep the human element of currency trading intact. Their success is evidence that many people still prefer the comfort of brick-and-mortar stores over purely digital services. Watching how the company plans to continue thriving in a market where many consider business models such as theirs obsolete will be fascinating.

Benefits of Cryptocurrency

• Easy Transactions: One of the most outstanding benefits of cryptocurrency is that it offers easier transactions to its users. Long gone are the days when quick transactions were the need of the hour since it has become a norm.
• Low Transaction Fee: Transaction fees can be a cribbing experience, especially if you’re transacting a hefty amount. With cryptocurrency in the mix, you can reduce transactional costs extensively. On top of that, you can send large amounts with no effort whatsoever.
• Confidential Transactions: Cybersecurity has been a concern for business owners in the present era. With the number of mishaps happening in the last few years, maintaining transactional activities securely is a problem. Cryptocurrency, with its additional security, can virtually transform your banking prospects. So, if you want to expand your horizons on the digital forefront, you need to adopt cryptocurrency.

Conclusion

Cryptocurrency has been a saving grace for many businesses in the contemporary era. People have opted to expand their horizons on the digital forefront by cryptocurrency. So, cryptocurrency is the way to go if you’re a business owner who wants to make quick inroads.

Cryptocurrency is essential for startups since it helps business owners take the technological step immediately. On top of that, you can change your entire digital landscape with this implementation right from the beginning. So, what are you waiting for? Cryptocurrency is here and is going to stay. So, if you want the best possible results, you need to expand on it quickly!

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.

Unlocking Success: Essential Tips for Aspiring Franchisees

Aspiring to own a franchise has tremendous promise, but more than enthusiasm is required—it takes strategy, research, and a willingness to learn. Trust me, I know the entrepreneurial energy that comes with wanting to hit the ground running. Over my 15+ years as CEO of Complete Controller, I’ve guided countless small businesses and franchise owners through the maze of financial and operational best practices. If you’re considering stepping into this exciting world of franchising, let’s unpack the essentials you need to know to elevate your chances of success.

What is a Franchise, and How Does it Work?

Defining the franchise model

At its core, a franchise business model is a partnership. You (the franchisee) buy the right to operate a business using the franchisor’s trademark, systems, and product lines in exchange for fees. Think of it as getting a head start in business without building from scratch. The franchisor provides operational guidance, brand recognition, and resources while you focus on execution. This symbiotic balance of independence and established support reduces many uncertainties of starting a new business.

Did you know? Approximately 806,270 franchise establishments will operate in the U.S. in 2023, and that figure is projected to exceed 822,000 by 2024[1]. The frequency of franchise additions alone highlights the viability and scalability of this business model.

The benefits of franchising

So why do so many entrepreneurs choose franchising? Here are the standout benefits:

• Brand recognition: Starting with an established name takes the guesswork out of customer trust—think Starbucks or McDonald’s.
• Proven systems: A franchise provides a tested blueprint, so you won’t have to spin your wheels trial-and-erroring through operations.
• Support: Franchisors back you up with marketing, training, and sometimes even operational troubleshooting.

Now, let’s talk numbers. Franchises typically outperform independent startups—92% of franchises are still open after two years, compared to just 80% of independent businesses[2].

Here’s a little perspective from years of working with small businesses: opening as a franchisee is like having the recipe for a cake, while starting your own business is figuring it out as you go. Both can work, but one method sure sets you up with considerably less stress and guesswork.

Evaluating Franchising Opportunities

Researching top franchise companies

Choosing the right franchise can be a game-changer. Here are steps to narrow down your options:

1. Use credible sources: Sites like the Franchise Business Review offer reviews and success stories from existing franchisees.
2. Align with your passion: What industries excite you? Love food? Research fast-casual dining chains. Enjoy staying active? Gym franchises might be your path.
3. Understand the support: Find options that balance affordability with strong operational assistance.

The business services sector, for example, is booming, with franchise establishments projected to grow to 104,000 locations in 2024[1].

Assessing franchise investment

Understanding your financial commitment is vital. Here’s what to evaluate:

• Initial costs: This includes the franchise fee, equipment, and any location prep. For instance, franchises like Wendy’s require upfront investments exceeding $600,000, but they also average $1.8M monthly revenue[3].
• Ongoing fees: Royalties and marketing fees come off the top of your revenue. Read your potential franchise agreement in detail.
• Return on investment (ROI): Calculate when you’ll break even using projected revenues versus costs.

Some franchisors offer financing assistance, which can ease entry barriers, but always read the fine print.

Understanding the Franchise Agreement

What’s inside a franchise agreement?

Your franchise agreement is the rulebook for your relationship with the franchisor. This document covers essentials like:

1. Royalty fees: How much you’ll owe monthly.
2. Marketing contributions: Your share in pooled national or local campaigns.
3. Renewal and exit policies: Terms covering your ambitions to renew—or opt out—down the road.

The typical franchise agreement lasts 10–20 years[5]. My best advice? Always consult a legal professional to review this. Over the years, I’ve seen too many owners skip this only to feel blindsided later.

Negotiating the agreement

Many franchise agreements follow a template, but small negotiations can sometimes happen. For example, you might work on adjusting royalty rates or securing larger territories. Don’t walk into negotiations solo—an experienced contract lawyer can make all the difference.

Leveraging Franchise Support Systems

Initial training: Your launchpad to success

Franchisors usually set you—and your employees—up for success with training protocols. These often include:

1. Classroom instruction to understand the business.
2. On-the-job programs at another franchise location.
3. Materials like manuals, tools, or access to proprietary tech systems.

This “boot camp” serves to ensure you’re fully equipped to manage your day-to-day operations before launch.

Long-term support and resources

But the real secret sauce? Ongoing franchise support services, including:

• Marketing: From launching digital campaigns to executing seasonal promotions.
• Operational guidance: Franchisors often resolve supply chain challenges or provide hiring solutions.
• Peer networks: Community boards or conferences among franchisees are gold when it comes to advice and troubleshooting.

Leaning into this support could be the difference between surviving and thriving.

Franchise Marketing Strategies That Work

Combining local and national efforts

The beautiful thing about franchising is combining wide-reaching branding with hyper-local initiatives. Sure, your franchisor handles major campaigns, but you’re in charge of making waves within your community by:

1. Partnering with local events.
2. Launching customer loyalty and referral programs.
3. Tailoring promotions to resonate with your unique audience.

Going digital

Brands that nail digital marketing dominate. Here’s how franchisees can climb the ladder:

• Use SEO to boost searches (e.g., “best coffee shop near me”).
• Leverage social media for promos, customer interaction, and reviews.
• Explore an evolving content marketing strategy, making your location the go-to expert in its niche.

A step in the wrong direction in marketing results in wasted opportunity—don’t skip this stage.

Managing the Financial Side of Franchising

Financial planning and budgeting

If there’s one consistent pitfall with new franchise owners, it’s underestimating startup and ongoing financial requirements. As the CEO of Complete Controller, I can’t stress enough why maintaining accurate financial statement accuracy from day one is a MUST for budgeting and decision-making.

Plan for:

• Staff payroll.
• Emergency expenses.
• Monthly royalty obligations.

Managing cash flow

Your revenue may look great, but poor money management could sink you. Keep cash flowing smoothly by:

• Tightening inventory controls.
• Tracking overhead and vendors weekly.
• Referring to these small business bookkeeping tips for actionable insights.

Continuous Improvement: A Franchise Necessity

Monitoring and evolving

Track meaningful metrics like sales, customer feedback, and budget stability to gain insight into your business’s performance. A data-driven approach ensures you know when to stick with what works—and when to pivot.

Staying agile in the market

McDonald’s is a great case study. By pivoting beyond burgers to beverages and breakfast, they adapted to remain relevant even as consumer habits shifted, powering their $15.4 billion in revenue from franchises in 2023[1]. You, too, must stay ahead of market trends and local competitors to ensure longevity.

Steps to Open a Franchise

Here’s your roadmap for launching as a franchise owner:

1. Research opportunities and pick the right fit.
2. Apply and meet financial/experience qualifications.
3. Analyze the franchise agreement (with legal help!).
4. Secure financing if needed.
5. Choose your location—ideally with high foot traffic.
6. Complete initial training.
7. Open with a bang—grand openings spark interest fast.

For detailed guidance, check out the Small Business Administration guide on franchises.

Conclusion

Embarking on the franchise journey is as much about preparation as it is about determination. You can stack your odds toward success by leaning on proven systems, evaluating opportunities carefully, and tapping into franchisor support.

Ready to dive deeper? Head over to Complete Controller for personalized advice on financial planning and business growth strategies. Here’s to making your franchise dreams a profitable reality!

FAQ

How much does a franchise typically cost?

It varies—from $10,000 for smaller enterprises to $1 million+ for larger brands like McDonald’s.

What are the risks of franchising?

Mismanagement or choosing the wrong franchise can quickly strain your finances, so research and preparation are crucial.

How soon can I expect a return on investment?

Most franchises break even within 1-2 years, depending on startup costs and location performance.

 

Many of the goals we set ourselves throughout our lives are related, in some way or another, to improving our economic status. Many people put some goals to grow professionally, buy a home, purchase a car, plan their children’s future, or manage their assets to guarantee retirement.

However, depending on our age, these economic needs are changing. The truth is that the focus on which of these dreams you pursue rests on saving. However, those who could manage their finances by themselves without significant complications now face larger problems, such as inflation and the need to avoid it. The profits obtained do not translate into losses.

These economic issues and changes are why hiring a professional financial advisor to help plan a budget and investment plan may become necessary. While many financially responsible adults may determine they need the help of a financial advisor, they may also have difficulty determining how to find one. Here are five steps to choosing a financial advisor that works for you.

Listening

Choose a consultant who knows how to listen. Both can speak confidently in the relationship between the professional and the investor. Conveniently, you tell the expert what your starting situation and goals are, and do not let them sell you their products but prepare a proposal of advice that contemplates different products that are thought to achieve your objectives. In addition, you should talk about the returns that can be obtained, but also the risks.

Certification

The expert must have specific training in financial advice. The advisors generally have finance, taxation, and even law knowledge. In addition to having a higher degree, they must have specific training in proven counseling with more than 150 hours of training. It is recommended that, in addition, you have obtained some accrediting certification, such as the one granted by EFPA.

Experience

Experience and demonstrable successes are a great plus. At the time of choosing the advisor, the professional trajectory that he credits will be key. Experience allows us to cope with volatility with great determination in the markets, as in any other sector.

In addition, it is advisable to be well informed about the expert who will know if the strategy he applies to their clients is also carried out with themself and obtains good results. 

Independent Advisor

Make sure you go to an independent consultant. There are two types of advisors on the market: those who receive commissions from third parties to recommend some of their products and those who work independently.

For this reason, it is advisable that, before going to an expert, you know what kind of advice will be carried out and that this will be completely transparent when it comes to billing your services.

Cost

You must consider what you can afford when hiring a financial advisor. Knowing how much an adviser’s service costs is complicated since there are different payment methods. Some charge through a fixed fee, others do with a commission taking a percentage of the portfolio’s profitability, and those prefer to use a mixed formula.

In addition, you can consult these professionals promptly and pay them for the service provided. Be that as it may, the best thing is to value the type of advice you need and estimate how you will pay for it.

Most importantly, the service we pay for brings us closer to our goals since, in these cases, we should not get carried away by the words “expensive or cheap” but by the profitability. Finally, make sure that before choosing a financial advisor, you can contact several experts and stay with the one that helps you more effectively achieve your goals. 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.

Long before social networks, various brands, and entrepreneurs used email marketing in business to maintain a communicative relationship with their customers. They would use email to communicate about news promotions and to provide assistance.

Because of new technology and other marketing and relationship development advancements with customers, many wonder if they should still use emailing in their business. This question is a great one to ask.

It should still be considered a marketing and communication tool to interact with customers because most customers have an email account. While many emails will be ignored by most of those receiving them regarding marketing materials, statistics show it is still a powerful marketing and communication tool.

What is Email Marketing?

Also known as advertising by email or commercial mail, it sends a commercial message directly to users, using email as a conduit.

In this sense, the email is sent to clients or potential clients. Typically, it implies using an email, sending messages of announcements, requests of sales, requests of businesses, donations, etc. This marketing type aims to generate trust and loyalty towards the brand.

Email marketing can be made to a list of current customers or purchased lists to send messages to improve the company’s relationship with its customers, achieve customer loyalty to our products, increase sales by acquiring new customers, or convince current customers to buy something immediately after the message.

How to Use Email Marketing

First, it is essential to remember that to send a marketing message, the authorization of each recipient can be explicit. Opt-in: when you register in one of your lists, it can also be implicit, which means that authorization is granted when acquiring any of your products. In this way, the user can unsubscribe if they think the content is irrelevant.

These lists are an essential asset for business, as they bring together people who have shown interest in the brand. The emails can have different themes, but they must always keep the same line, such as providing value to the client. The messages should be perceived to establish communication and a continuous approach towards counseling.

For example, you could send messages with diverse themes, such as:

• News on an ideal topic for you or your company.
• Offers or promotions in your products or services.
• Relevant information for your client.
• Ads about your business
• Events that you attend

As a rule of thumb, campaigns should always be where your recipients find some value. It is not a matter of sending messages with what you have to offer. If so, you could fall into the so-called SPAM emails, and undoubtedly, the attempt to get closer to your customers in this way will turn against you.

How to Make a Good Email Marketing Campaign

If you want to get good results with this online marketing strategy, working on the content of the messages is essential. However, it is not the only element to consider.

It is also essential to take care of the presentation of the message. It means using a suitable template and checking the text’s spelling, length, and content to be attractive. Likewise, it is essential to ensure all the elements are visible correctly because the size of some images can create problems.

What are Commercial Emails for?

According to experts in online marketing, email marketing serves to:

• Maintain contact with clients.
• To bring news and news to a diverse audience.
• Maintain our brand as number one in the mind of the consumer.
• Get opinions.
• Generate the customer’s commitment to the brand.
• Develop content strategies

Email marketing campaigns have to his favor that offer the possibility of measuring the results in real-time through diverse platforms that allow detailed campaign analysis. It is vital to remember that the results will probably not be obtained.

First, previous work, patience, and perseverance are necessary to get an effective email marketing campaign for your business. Finally, it is crucial to understand that email marketing campaigns are adaptable to your business and its needs, but they require a lot of work, dedication, and monitoring.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When starting and operating a small business, the chances are that you will need to get financing through a business loan. Over the business’s life, you may need multiple business loans as it is common to require funding for startup costs or expansion.

At some point in your life, you must have encountered this famous accounting equation, “Assets = Liabilities + Owners Equity.” Liabilities consist of short- and long-term payable options, also called business loans.

Business credit is a catalyst in giving the business a well-needed push, especially in its initial stages when things are below the break-even point. Owner equity alone is not enough to cover all financing requirements.

Hence, loans are the backup option when owners’ equity cannot fulfill commercial needs. Before obtaining a loan, you have to determine if you need one and if you qualify. Here are five reasons you may need a business loan and why the loan could be denied.

Starting the Business

The dawn of the 21st Century has ignited the passion for entrepreneurship in the hearts of millennials, thus giving rise to several young business minds. As a result, millions of startup companies are in every corner of the globe. Business loans are the first option for these young entrepreneurs to execute their unique ideas without worrying about the sources of finances. 

Growth and Expansion

Long-term investments are the key to sustainability working in this dynamic environment. Management cannot spend big in one go, so they look for long-term business loans for future investments. Obtaining a loan for growth and expansion is common and generally easier to get than a startup loan because the business is established.

Acquiring Supplies and Equipment

Spending the cash in hand is too risky to purchase the inventory or equipment, keeping in mind the fixed expenses of the business. A company that is highly sensitive to seasonal fluctuations cannot precisely predict future inventory requirements; hence, they run out of inventory most of the time. Short-term loans always save their day by maintaining the balance.

Keep the Business Going

Well, expenses are the most heartless creature in the Corporate World! No matter how rapidly your sales are going down, expenses will remain fixed. For many reasons, reporting lower or no profit is reasonable for running a business. This phase is temporary, and business loans keep things from crashing.

Retaining Top Talent

In expansion, extra money is already tied up in different projects. New projects can only be successful if you have top talent on board. You cannot reap the fruit in the early stages. To remain competitive in the market, Management must approach different institutes for credit purposes to pay off their key employees’ salaries.

Reasons a Business Loan is Denied

Businesses can become essential for some people to launch their startups or to expand an existing company. Business loans help secure inventory, rent functional space, purchase equipment, hire employees, and cover other tremendous expenses. But small business owners face difficulties due to seven reasons:

1. Poor credit history
2. Lack of a solid business plan
3. Limited cash flow
4. Disorganization
5. Too many loan applications
6. Failure to shop around
7. Failure to seek expert advice

Conclusion

Business loans and Owner’s equity are the two engines that generate the necessary power to uplift the organization. When owner equity fails to deliver the energy needed for the system, business loans back it up with long-term and short-term credit options; on the contrary, excessive loans can be disastrous for the organization. A compelling study needs to be carried out to measure the payback ability of the firm to avoid any significant blow. Only then can management decide whether it’s worth taking the risk.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.

Billboards and newspaper advertisements were formerly the most effective methods of advertising your brand and products. Digital marketing is a must-have for all businesses, and developing the appropriate tactics is critical to success.

However, digital marketing has numerous possibilities, and determining where to begin may be stressful, if not downright panic-inducing. The world of online marketing has evolved, and there are undoubtedly multiple methods for marketing your website online.

The good news is that while these are distinct marketing categories, they can all operate in concert to help you reach your objectives and expand your organization.

Different Disciplines of Digital Marketing

Online marketing can be divided into six distinct disciplines:

Material marketing: Creating and distributing meaningful content to attract, educate, and retain your target audience.

Native advertising: Also known as advertorials, native advertising is a sort of online advertisement designed to resemble the editorial content of the website or newspaper being promoted.

Pay-per-click (PPC) advertising: PPC is a form of online advertising. Advertisers are compensated every time a user clicks on one of their advertisements.

Search engine optimization (SEO): This is optimizing a website to become search engine friendly and generate organic traffic.

Social media marketing: Promoting a product or service via social media networks. Typically, this is accomplished through a social media management platform.

Email marketing: A marketing strategy that uses email to communicate with and nurture potential and existing clients.

What is the Definition of a Digital Marketing Strategy?

A digital marketing strategy outlines how your organization will accomplish its objectives through an online search and social media channels. Most strategic plans will explain which online channels and digital marketing methods you intend to use and how much money you intend to invest in these channels and strategies.

Establish Your Brand’s Identity

Establishing your brand is the first step in implementing a successful digital marketing strategy. Understanding your brand’s ins and outs is critical to effectively marketing it to your audience.

Define what makes your business distinct. What unique value proposition do you bring to the table that your competitors do not? Understanding what makes your business distinct from advertising to your target demographic is critical.

Establish Buyer Personas

It would be best to determine who you are attempting to target to develop an effective digital marketing strategy. The next step in developing your digital marketing strategy is defining your target demographic through buyer personas.

Buyer personas are fictional characters who embody the characteristics of the people you’re attempting to convince to purchase your products or services. They personify your ideal consumer and will most likely purchase from your firm.

Establish Your Objectives

Identify your objectives before going on a marketing journey to reach your target audience. Establishing goals to identify whether your marketing plan is effectively growing your organization is critical.

When setting goals, include both little and large ones. Your little goals should remind you to stay on track toward reaching your larger goals.

Select Your Digital Marketing Channels

If you want to learn how to establish an effective digital marketing strategy, the first step is to select the appropriate digital marketing tactics. You know who you’re attempting to reach and your objectives; the following step is determining which channels will assist you in accomplishing them.

There are numerous ways for your organization to obtain these leads:

• Optimization of search engines (SEO)
• Advertising on a pay-per-click (PPC) basis
• Marketing via content
• Marketing via email
• Marketing using social media
• Marketing via influencers

These are just a handful of the channels available to reach your audience. When developing your digital marketing strategy, you must decide how to reach your audience.

Set a Budget

Your campaign’s funding is critical. Before executing your tactics, you must determine your budget for digital marketing. A predetermined marketing budget enables you to allocate funds to the services you require more efficiently.

Measure the Outcome

A digital marketing strategy should always include a method for tracking results. Measuring results is critical for assessing whether your business’s efforts were practical. It’s vital to regularly check your results to ensure you’re running the most effective campaign possible.

You can measure the success of your campaign by examining key performance indicators (KPIs). KPIs are metrics that assist you in determining whether you have achieved your objectives.

Conclusion

Most businesses need a well-defined digital marketing plan. A lesser proportion of respondents have yet to connect strategy and marketing. Most businesses are unprepared and ill-equipped to deal with the needs associated with developing their digital marketing plan.

While it may seem tempting to rush in and begin on as many platforms as possible at once, thinking to yourself, you’ll figure out the details afterward and shoot yourself in the foot. Without precise goals in mind, running any form of marketing campaign (even search engine optimization) is akin to going around Paris without a GPS—more it’s akin to jumping on a sailboat without a map, where you’re likely to be trapped drifting someplace at sea.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 healthcare industry has multiple challenges, and Artificial Intelligence (AI) can help healthcare professionals deal with them. Despite privacy and data integrity concerns, AI seems to be promising for managing health and wellness. Several new technologies are being made available now and then, broadening the horizons for healthcare professionals and patients alike.

AI is rapidly transforming the processes of medical research, medical devices, and drug manufacturing. So, how can AI be applied to the health and wellness industry? Let’s look at ten ways.

Development Of New Vaccines

It is perhaps the most critical use in the post-COVID world. Some vaccines need specific compounds, such as adjuvants (compounds that assist the immune system in warding off disease). These compounds have to be discovered after analyzing a large number of new combinations.

AI can help analyze massive databases that would otherwise take much more time to analyze. One recent example of this is an adjuvant that Australian researchers have identified for use in modern flu vaccines.

Drug Repurposing

Drug development is a complicated, time-consuming, and expensive process. On average, it is estimated that a new drug takes about $2 million and ten years to move from the development stage and get federal approval.

For this reason, many drug manufacturers take one approach to repurpose already-approved drugs and find new applications for them. This process requires comparing the effects and structure of unused drugs to existing treatments. AI can be of significant use in this area as it enables researchers to select potential drug repurposing candidates in less time.

Virtual Nurses

Healthcare facilities are often in situations where they are short of staff or funds, for instance, during natural disasters or a pandemic. In such cases, patients may be left unattended. It may cause them to stay unaware of their condition and how to deal with it.

Medtech companies have created Virtual AI nurses capable of providing 24/7 bedside support. These AI nurses can utilize details from the patient’s medical records to update patients about their health, provide treatment recommendations, and build personalized relationships.

Clinical Support

Treating patients requires doctors to utilize the available medical literature, especially regarding rare health issues. However, due to the large volume of medical literature and time constraints, healthcare professionals can often use the medical literature well. It can affect the quality of treatment that they can provide.

AI can quickly scan the literature and present it in simple language to make it easier to use quickly. Several clinical support models have been created using AI to utilize this strength. These models offer unmatchable clinical support to doctors and other healthcare professionals.

Data Extraction From Medical Records

Maintaining medical records for patients is a crucial requirement in healthcare because they hold vital information that informs diagnosis and treatment. With the significant number of patients and each electronic health record (EHR) containing multiple documents related to their medical history and treatment plan, it is hard for healthcare professionals to extract meaningful information quickly.

AI models are helpful in this area because they can quickly parse through medical records, fish out essential information, and present it in a simple format that doctors can quickly read.

Prediction of Adverse Drug Events

Adverse drug effects refer to problems caused by medicines. Healthcare professionals attempt to avoid causing adverse drug effects when prescribing or administering drugs. They do this by carefully selecting the drugs according to the patient’s medical history.

Nevertheless, sometimes problems can occur due to mistakes. On average, ADEs may lead to up to three more days in the hospital, amounting to $4 billion every year. This problem can be solved with AI, which can quickly go through a patient’s medical records and help doctors make informed decisions that lead to adverse drug interactions.

An excellent example of AI in action is the Parkland Memorial Hospital in Texas, which used a customized AI model to identify the possibility of ADEs. They managed to prevent over 2,000 ADEs over two years.

Improvement in Pathology

Pathologists have to spend long durations analyzing tissue samples to study signs of diseases like cancer. AI models can help quickly identify irregular tissue samples, speeding up the process significantly.

Lung Cancer Screening

Doctors must use a standard CT scan of a patient’s lungs to screen for lung cancer. While this is an excellent way to detect lung cancer, it is very time-consuming. There is also the risk of overexposure to dangerous levels of radiation.

AI has been helpful in this case as well. The latest AI technology in this area can speed up the screening process and refine completed scans. With this technology, doctors can get the same or better results with low-dose CT scans, making the process quicker and safer.

Detecting Other Cancers

AI is also helpful in the detection of other types of cancer, such as breast cancer. It helps refine the results, streamlines the diagnosis process, and saves precious time.

Information Management

AI has significantly contributed to the management of information in the healthcare industry. It has allowed systems to be more streamlined and accessible. The benefits of this include patients getting medical attention faster, increased comfort, a lesser strain on healthcare professionals, and the possibility of innovations like telemedicine.

AI is useful in another aspect here. AI-powered educational models can help doctors and other healthcare professionals boost their learning and skills by making access to knowledge and resources much quicker and simpler than ever. 

There are many areas where AI seems to be promising. As healthcare professionals and the general people become more open to giving AI technology a shot, the world will observe a significant transformation in providing health and wellness services. The healthcare industry constantly faces several challenges, and AI could be the answer.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.

Many businesses that manufacture products have to consider quality and price. When comparing quality to price, lower pricing doesn’t necessarily mean lower pricing equals lower quality. Here are ways to consider quality and pricing and how it compares.

Watch Your Product Budget

What is the definition of quality? According to ISO 9001, “Quality is the integration of the characteristics that determine to what degree a product meets the consumer’s needs.”

Additionally, the quality standard is subjective; therefore, obtaining products based on opinions is generally not as effective. Therefore, different laws have been specified, such as the one mentioned above from ISO and other international entities.

Studies have determined that products that frequently cost up to three times more than the competition are not entirely compliant. In this regard, there are also examples visible to the majority, such as the comparison between Asian and Western markets, whereby ” changing the name ” of an Asian brand by its Western counterparts, the price increases without seeing benefits or changes in the finishing of products. These changes are known as re-branding.

Low prices do not imply that the product is of poor quality. However, reducing production expenses and other processes is not subject to certification tests or standards subject to quality. Therefore, to make a purchase looking for quantity with low prices is to know that it will be a product on a tightrope, which in this sense will be the time of duration or useful life.

Saving Money

When it comes to a specific buyer, acquiring many products may mean buying products to use longer and save on the final costs. This strategy is widely used, especially if you intend to try both cheap and higher-value products. Sometimes, the first mentioned is the one that pleases the public the most! From what we again indicate, quality can be subjective.

In companies, purchasing products must be linked to economic needs to increase production or slightly improve their workforce’s conditions.

Businesses going through a production decline and merit products quickly (acquisition of inputs, processed raw materials, services) can opt for quantity before quality, but of course, always taking everything as a transitory stage, and that “quality is synonymous with customer loyalty.”

However, this should not be taken lightly, and the CEO should evaluate all the variables at stake. Predictive statistics can be valuable here and see the behavior of a newly acquired product over the long term.

I Have Spent all My Money on a Product that Does Not Fulfill its Promises. What do I do?

What happens if buying something of high value does not cover my expectations? The products with a warranty usually give a useful lifetime or expiration (clothes, such as a finite number of washes). If you have not met and feel that you have been “scammed,” you can go to the services of a lawyer and make the complaint.

In addition, experience in such situations is an infallible teacher. Once you have spent large sums on products that end up not being what they claim to be, why buy again? In fact, in these situations, we apply what we mentioned before regarding the quality and loyalty of the product.

Hopefully, this article has been beneficial and remember: first analyze the budget, needs, and if you intend to use the acquired long or short term. If it is in the business world, be more careful because your company’s reputation could be put at stake, and we are not talking about external customers. Still, about internal ones, that is your workforce.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.