Category: Content

Data is becoming easily accessible and is easily distributed, making it harder to protect your intellectual property (IP) or product notions from theft and replication. Many startups do not prioritize the protection of intellectual property, and if it is compromised, it would not be easy to compensate for it. Whether you’re a multinational company or a startup, safeguarding your intellectual property should be one of your top priorities for your business.

What is Intellectual Property?

Intellectual property (IP) is all around you. You can’t see or touch it, but you likely own it if you own a business. Everyone talking about intellectual property, but what precisely does the term comprehend? Fundamentally, IP is any product or work that results from innovative thought. It’s a special kind of protection a business needs depending on what they want to protect.  Examples are designs, artwork, manuscripts, website content, articles, blog posts, inventions, product names, business names, courses or online programs, or other original and personal info that aids your business.

If you come up with a fantastic idea, product, or design, you must ensure that no one else has access to it or the right to use it without your consent. The good news is that several federal and state laws secure IP.

How to Protect My Intellectual Property?

Follow some vital steps to guard your production’s valuable content, ideas, and products. These steps will lower your chances of dealing with intellectual property theft and give you protection even if someone steals your IP.

It is vital to secure your company’s intellectual property (IP). Those who have not tried to defend their intellectual property because they feel complicated and expensive lose intellectual property rights by ignoring to guard their designs and inventions. There are several different ways to secure it, including patent, trademark, copyright, industrial design, etc.

Keep Your Business Ideas a Secret

Until you have sufficiently protected your intellectual property, avoid discussing it with others unless they have signed a non-disclosure agreement. You must be careful with whom you trust. Never promote your idea in public, especially when working with partners. Sign a personalized non-disclosure contract and speak with a lawyer.

It is essential to know who you trust. You cannot trust everyone around you. Business ideas are a sensitive topic that you can’t share with everyone. People can either misuse that information or use it for themselves and their businesses.

Apply for a Trademark

As soon as you finalize your business name and logo for your project, register those trademarks immediately. Trademarks are mainly used to distinguish a business’s products and services from those of its competitors. They include a slogan, logo, jingle, sound, and shape.

Companies occasionally believe that patent protection is the only way to guard and protect themselves. Technology startups commonly ignore the worth of non-patent intellectual property. Though patents can be extremely valuable, it does not ensure that a firm’s product is the right product and will sell. Trade secrets, copyrights, cybersecurity policies, and trademarks can all be forms of IP that you can protect.

Invest

Remember, until and unless you have officially protected your intellectual property, anyone can take your idea and create it for themselves. Still, your chances of beating content and idea raids are so much higher if your intellectual property is secured.

Furthermore, you must secure your intellectual property in case of identity theft. Intellectual property is a sensitive topic, and you must share your business only with your close friends and people you can trust.

Summary

In conclusion, you probably have much more IP than you know. Protecting your intellectual property privilege does include finding a competent advocate to help you discover and register it, but making that investment now will pay off handsomely when building your Intellectual Property portfolio. It will help protect what is lawfully yours if any matters arise in the future. Thus, it is crucial to protect your intellectual property as it can be a source of many disputes, even at the governmental level. 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.

Michael Porter’s Five Forces model is a comprehensive business analysis framework that identifies and examines five critical factors that shape every industry. These factors are the bargaining power of suppliers, the bargaining power of buyers, the threat of new entrants, the threat of substitute products or services, and the intensity of competitive rivalry. 

The Five Forces model is widely used to identify an industry’s structure and determine corporate strategies. It can be applied to any segment of the economy to understand the level of competition and enhance a company’s long-term profitability. 

Porter’s Five Forces model is an essential tool for understanding why some industries can sustain higher levels of profitability than others. By analyzing the competitive forces at play in an industry, companies can develop effective strategies to gain a competitive advantage and increase their profitability. 

The model is not only useful for assessing the competitive dynamics of an industry but can also be applied to examine the business structure and corporate strategy of a company. By identifying the strengths and weaknesses of a company’s business structure, the model can help companies optimize their operations and enhance their competitive position in the marketplace. 

Overall, Porter’s Five Forces model offers a comprehensive and detailed analysis of an industry’s competitive dynamics, helping companies develop effective strategies to succeed in a highly competitive business environment.

Michael Porter presented a model to inform businesses of potential threats in their surroundings. The model uses companies to analyze potential dangers in the environment. Porter laid down five factors covering the whole circle of potential threats a company may face regularly. 

1. Threat from Potential Entrants: Usually, when a new business enters a market, it does not gain visibility, hence not posing any potential threat to the existing companies. However, if a new business hits the market, having support and a basis with the perfect planning and resources to reach the top level of the market poses a massive threat to the existing line of businesses in the same industry. 
2. Threats from Substitute Products or Services: Several products and services might come as a substitute for another product. For example, it is possible to substitute a car running on petrol with a car running on CNG. Similarly, the consumption of rice replaces the consumption of tortillas. Therefore, all businesses face potential threats of substitution with another product. 
3. Bargaining Power of Supplier: The business faces a situation where the bargaining power of the supplier is high. Such a case usually happens in an industry where the core element of production is scarce. Only two to three suppliers are available in the market at a distant location. This gives the benefit of bargaining to the suppliers, who use it to their advantage. The businesses are usually bound to buy from them.
4. Bargaining Power of Customers: Businesses face the bargaining power of customers being high when the cost of switching from one supplier to another supplier is low. Suppliers always look for buyers who can buy in bulk. It affects profitability when the buyer has a vast amount to buy and the sellers are not that big in terms of business structure and visibility. 
5. Rivalry: Rivalry exists in all businesses. Whether you are a small business or a colossal corporation, you will always taste the fruit of rivalry in your industry. You can never save yourself from it. Therefore, a company will always be a victim of a feud where another organization will have the same product line or core product as you do in the same market. The decision to choose between the two solely depends upon the customers who will choose between the two brands. If you have a cost advantage or if your product offers unique features considering the benefit of the client, then you will have a competitive advantage.

All businesses are targets of threats for which they never have control. If they have control over the situations affecting the company’s well-being, it is a weakness. Therefore, all businesses must realize the threats in their surroundings and adopt the remedies to get a competitive advantage. The model can use enterprises to analyze the potential hazards that might be present in the environment. Porter laid down five factors covering the whole circle of the potential threats that a company may face regularly. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In a world where superheroes grace the silver screen, there’s a real-life hero often overlooked, working tirelessly behind the scenes. This hero doesn’t wear a cape or possess supernatural powers but wields the incredible strength of love, patience, and resilience. Yes, I’m talking about the heart and soul of our homes—Mom.

Moms do the heavy lifting when it comes to keeping our households running smoothly, from planning meals and managing schedules to providing emotional support and so much more.  But there’s another critical role they often play, one that deserves a standing ovation: household money management. In the dance of life, managing finances effectively is like mastering the cha-cha; it requires rhythm, discipline, and a bit of flair. 

Appreciating all that mom does for the household goes beyond celebrating her on Mother’s Day. It’s about recognizing the effort it takes to manage a home efficiently, especially when it comes to finances. Proper household money management is not just about ensuring bills are paid on time; it’s about securing a family’s future, turning dreams into reality, and teaching valuable life lessons along the way.

So, how can we manage our household budget like a pro and even cut costs? Here are five simple and easy tricks to elevate your financial savviness:

Embrace Budgeting Tools

In the digital age, managing your household budget has never been easier. Numerous apps and online tools are designed to track spending, set budgeting goals, and even provide alerts when you’re veering off course. These tools offer a clear picture of where your money is going, making it easier to adjust and stay on track. Think of them as your financial GPS, guiding you toward your fiscal destination without getting lost in the sea of expenses.

Plan Your Meals

Meal planning is a game-changer for both your diet and your wallet. By planning meals, you can avoid last-minute takeout temptations and make grocery shopping more efficient and cost-effective. Buying in bulk, focusing on seasonal produce, and embracing the art of leftovers can significantly reduce food waste and save money. Plus, the whole family can get involved, making meal planning a fun and collaborative activity.

Automate Savings

One of the simplest yet most effective ways to manage your household budget is by automating your savings. Set up a direct deposit from your paycheck into a savings account, or schedule regular transfers from checking to savings. This “set it and forget it” approach ensures that you’re consistently building your nest egg without having to think about it. Over time, these savings can be used for emergencies, vacations, or even investments.

Cut Unnecessary Expenses

Take a hard look at your monthly expenses and identify areas where you can cut back. Subscription services, cable bills, gym memberships, and dining out can add up quickly. Ask yourself, “Do I really need this?” or “Is there a cheaper alternative?” Sometimes, the joy of saving money and seeing your bank account grow can be more satisfying than the services or items you’re cutting back on.

Shop Smart

Becoming a savvy shopper can lead to significant savings. Look for discounts, use cashback apps, and don’t be afraid to negotiate prices on bigger purchases. Also, consider buying high-quality items that might have a higher upfront cost but will save you money in the long run because they last longer. Shopping smart also means knowing when to say no to impulse buys that can throw your budget off balance.

Managing a household budget like a pro doesn’t happen overnight. It requires patience, discipline, and a bit of creativity.  But by implementing these simple and easy tricks, you can not only cut costs but also pave the way for a more financially secure future for your family.

As we navigate the complexities of life, let’s take a moment to appreciate the unsung heroes among us—our moms. Their dedication to managing the household, especially the finances, sets the foundation for a stable and loving home. By learning from their example and applying these budgeting strategies, we too can become masters of our financial destiny, ensuring that our homes are not just places of love and comfort but also bastions of financial wisdom and security.

So here’s to all the moms out there, juggling the many roles life throws their way with grace and tenacity. You’re not just managing a household; you’re shaping the future, one budget at a time. Let’s follow in their footsteps and take charge of our household finances with confidence and enthusiasm. After all, when it comes to managing money, every little bit counts and every mom’s effort is worth its weight in gold.

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

In today’s high-speed world, where entrepreneurs and stay-at-home moms are superheroes without capes, the importance of self-care and savvy financial management cannot be overstressed. Balancing the books of a fledgling startup and running the tight ship of a household share more similarities than one might think. Both roles demand a cocktail of resilience, patience, and strategic planning, especially when it comes to managing finances. So, let’s dive into the fun and energetic world of self-care and financial management and explore why they’re crucial for both entrepreneurs and stay-at-home moms.

The Unsung Heroes: Entrepreneurs and Stay-at-Home Moms

Entrepreneurs ignite change with their innovative ideas, while stay-at-home moms ensure the smooth sailing of their households. Both manage tight schedules, make critical decisions, and often put others’ needs before their own. This relentless pursuit of success and stability, however, can take a toll on their well-being, making self-care not just a luxury but a necessity.

The Financial Tightrope: Small Businesses and Household Finances

Managing a small business’s finances mirrors the complexities of handling household finances. Both require meticulous budgeting, wise spending, and the foresight to plan for future needs. It’s all about cash flow—ensuring that more money comes in than goes out. Whether it’s keeping a business afloat or managing household expenses, the principles of financial management remain the same.

Now, let’s talk tips and tricks for adeptly managing household finances, which can also be applied to small businesses:

Embrace budgeting with open arms

Budgeting is your financial roadmap. It’s about knowing where every dime is spent and making informed decisions. Start by listing all income sources and expenses. Apps like Mint or YNAB (You Need A Budget) can simplify this process, offering a clear picture of where you stand and where you can trim the fat.

Save for the rainy days

An emergency fund is your financial safety net. Aim to save at least three to six months’ worth of living expenses. This fund guards against unexpected events—be it a leaky roof or an unforeseen business expense—ensuring you’re not thrown off course.

Debt: Handle with care

Just as businesses strive to keep debt under control, managing personal debt is crucial for financial health. High-interest debt, like credit card debt, should be tackled first. Consider strategies like the debt snowball or avalanche methods to pay down debt efficiently.

Wise investments pay off

Investing isn’t just for the Wall Street aficionados. Simple investments in a retirement account or a college savings plan can yield long-term benefits. Similarly, businesses reinvest profits for growth. The key is making informed choices that align with your financial goals.

Regular financial check-ups

Just as a business regularly reviews its financial health, conducting monthly financial check-ins can keep you on track. Assess your progress towards financial goals, adjust your budget as needed, and celebrate small victories. This proactive approach can make a world of difference.

The Magic of Self-Care

Amid the hustle of managing finances and daily responsibilities, self-care is the magic ingredient that keeps you going. For entrepreneurs and stay-at-home moms alike, self-care means taking time to recharge, whether through a hobby, exercise or simply a quiet moment with a cup of tea. It’s about listening to your needs and recognizing that taking care of yourself is not selfish—it’s essential.

Bringing It All Together

The lives of entrepreneurs and stay-at-home moms are tales of unsung heroism, marked by challenges and triumphs in equal measure. In both roles, financial savvy and self-care are pivotal. By adopting smart financial strategies and making self-care a priority, you pave the way for not just surviving but thriving. Remember, managing finances and self-care are not just tasks on a to-do list; they’re the keystones of a fulfilling life.

So, whether you’re an entrepreneur dreaming big or a stay-at-home mom managing the world one task at a time, remember: your well-being and financial health are the bedrock of your success. Embrace them, and watch as you transform challenges into opportunities, one energized step at a time.

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

In today’s fast-paced world, juggling the demanding roles of a mother and an entrepreneur requires a superhero’s cape. Many daring women tread this path, combining the nurturing role of motherhood with the fierce determination of entrepreneurship. This article celebrates these incredible women, exploring the challenges they face, their unwavering spirit, and the impact they make on their families and the business world.

The Dual Role: Mother and Entrepreneur

Mothers are inherently multitaskers, but those who step into the entrepreneurial realm take multitasking to a whole new level. They balance business meetings with parent-teacher conferences, strategic planning with family dinners, and financial management with bedtime stories. It’s a 24/7 job with no days off, yet these women embrace it with grace and resilience.

Challenges on Every Front

Being a mother and an entrepreneur comes with a unique set of challenges. Time management is a significant hurdle. There’s always a delicate balance between attending to the business’s needs and being present for the family. Financial pressures also loom large, as starting and maintaining a business requires substantial investment, not to mention the financial responsibilities of raising a family.

Moreover, societal expectations and stereotypes often add another layer of difficulty. Women in business face gender biases and are frequently underrepresented in leadership roles. Combining this with the societal expectations of being the primary caregiver at home, mothers and entrepreneurs constantly fight to prove their worth in both arenas.

The Triumphs of Mother-Entrepreneurs

Despite these challenges, mother-entrepreneurs achieve remarkable successes. They bring unique perspectives to the business world, often prioritizing sustainability, community, and work-life balance more than their counterparts. Their ability to multitask, prioritize, and exhibit empathy translates into effective leadership and innovative business strategies.

Furthermore, these women serve as incredible role models for their children. They exemplify hard work, perseverance, and the courage to pursue one’s dreams. They teach by example that it’s possible to follow one’s passion while fulfilling family responsibilities.

The Impact of Mother-Entrepreneurs

The impact of mother-entrepreneurs extends beyond their families and businesses. They contribute significantly to the economy, creating jobs and driving innovation. According to the National Association of Women Business Owners, 11.6 million women-owned businesses in the United States generate $1.7 trillion in sales. While not all these business owners are mothers, a significant number juggle entrepreneurship with raising a family.

Moreover, these women challenge and gradually change societal norms and expectations about gender roles in both the professional and domestic spheres. They pave the way for future generations to live more equitably.

Supporting Mother-Entrepreneurs

Recognizing the critical role of mother-entrepreneurs and supporting them through policies and resources that facilitate their dual responsibilities is essential.  Flexible work arrangements, access to affordable childcare, and mentorship programs can help. Additionally, encouraging a culture that values work-life balance is crucial for their success and well-being.

In Conclusion

Being a mother and an entrepreneur simultaneously is no easy feat. It is a journey filled with obstacles but one that also brings immense rewards. These remarkable women possess incredible strength, flexibility, and determination that allow them to navigate the challenges of their dual roles with grace and resilience. 

Their contributions to both their families and the business world are invaluable. As they juggle their responsibilities, they bring fresh perspectives and innovative ideas that enrich the world around them.

Let us take a moment to celebrate and support the mother-entrepreneurs in our lives, for they are the unsung heroes of our time. They push boundaries, break barriers, and set new benchmarks for success and fulfillment. Their journey is a testament to the power of resilience, love, and ambition.

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.

Raising costs is likely the easiest method to expand your income. As a rule, you can develop your cost point and watch your income increase. This is because evaluating is what financial specialists call flexible. That implies that multiplying your costs will not result in losing many of your clients. You will most likely lose not precisely half, expanding your income in this way. Moreover, if you cut your costs down the middle, you may not need your absolute clients.

A sale can be one of the best methods to get clients to make a move now; lastly, get around to attempting your item. Clients who are going back and forth occasionally need a delicate push, and a rebate can be a simple method to give that poke.

Do you have a company that sells services? If so, this post may interest you because you may be interested in converting services into products. Selling a service is, in many cases, more complex than selling a product. The customer cannot see something tangible, touch it, or know what quality it is, what decorations or special packaging it has, or what guarantees it has.

To overcome all of this, the first step I recommend you take within your sales funnel is to gain your audience’s and potential client’s trust. It is not the subject of the article, but, for example, to build that trust, you can:

• Offer one hour of free counseling or consulting (whether you are a physiotherapist or have a law firm).
• Make a free initial report.
• Provide valuable content for the client through the blog, social networks, or newsletter subscription.
• Have recommendations for your services or testimonials that guarantee your offer’s quality and commitment.

But let’s continue with the subject. Your company can obtain many advantages, one of them increasing your income by converting services into products. I must mention that this process requires changing, innovating, or modifying, in a way, your business model.

Indeed, service conditions are usually determined by the specific specifications and characteristics of the client in question. However, you can increase your profitability and growth by marketing “standardized products” derived from your services.

If you sell a product, you may also be interested in performing the process in reverse. That is, convert your products into services, but I will talk about it in future publications.

When you offer services, what you sell is your time or your workers’ time. And time, hours, is something finite. Every time you want to increase your income or have more customers, you will have to make more hours, time, and employees available to them. So, your business has a limitation: the open hours.

Next, I want to show you how you can improve the scalability and profitability of this model through passive income.

Convert Services into Products or How to Generate Passive Income

What does passive income mean? Obtain a series of residual income without necessarily selling your time or hours. Passive income allows you to enter money without being on top of what you offer and selling directly. The case of rents, a property you make available to another person and generating a monthly income without requiring active participation, is an example of such an occurrence.

Converting services into products is necessary to generate passive income. The latter does not require your presence or direct involvement, and you can automate it to create benefits without needing 100% of your attention.

So, not only do I want to talk to you about converting services into products, but they require minimal vigilance on your part. 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 process of adding value to a product is a complex chain of operations, each step building on the previous to create a final output that is worth more than the sum of its parts. Every component in the chain plays a vital role in maximizing the value of the product, ultimately determining its selling price.

This sequence of activities is known as the value chain, and it encompasses everything an organization does to create its products or services, from sourcing raw materials to delivering the finished product to customers. The value chain is a critical concept in business, as it enables companies to optimize their operations and stay competitive in a crowded marketplace.

Organizations looking for the upper hand regularly use value chain models to distinguish open doors for cost investment funds and separations in the creation cycle. In ideal circumstances, the worth chain shows that the cost to construct is far lower than the cost the market can hold up under. However, this is getting more troublesome as client requests develop multifacetedly and market rivalry increases. Furthermore, innovation and specialized techniques have changed enormously since Michael Porter presented the worth chain model in 1985.

Primary Value Chain

Porter believes that the main Value chain consists of five components. Those are:

1. Inbound Logistics: the primary responsibility of inbound logistics is to receive the material from the supplier, keep it safe in the warehouse, manage the inventory, and manage the raw material. 
2. Operations: The primary responsibility of operations is converting the material into a product that customers would be interested in purchasing. This section is responsible for the equipment used in assembling and packing the products.
3. Outbound Logistics: outbound logistics oversee the responsibility of storing the finished goods and managing their delivery and transportation to the customer’s destination. 
4. Marketing and Sales: As the name suggests, this component concerns the marketing department. This component is responsible for marketing the product, spreading awareness, and enhancing the company’s visibility. 
5. Services: The products incorporate this feature when the services provided at the point of sales are linked. It includes installation, repair, and maintenance services.

The idea of the exercises in the value chain fluctuates, starting with one industry and then onto the next, and there are different contrasts between the value chain of producers, retailers, and other service industries. Notwithstanding, the idea of the primary value chain is legitimate for a wide range of business elements. 

Value includes every one of the exercises, the primary value chain. Clients may pay more for an item or a service if it is conveyed to them in a progressively helpful manner. For instance, clients may pay more for family shopping if things are related to their homes, so they do not need to go to a general store or a store to get them.

Along with the primary components, the chain also entertains secondary elements. Those are: 

1. Purchasing: This involves purchasing the company’s resources. The company’s assets are included in this portion, where it buys plants, equipment, and raw materials. 
2. Technological Development: This department is concerned with innovation strategy and all research and development processes. It analyzes the factors that would add more value to the product than it already is.
3. Human Resource Management: This department hires individuals for the primary chain to add excellent value to its product.
4. Corporate Infrastructure: This department deals with enforcing the proper form of infrastructure, which would help the organization achieve the goal of adding the best value to the product. 

Therefore, value is added to a product following a chain of operations. The value becomes the selling price of the product. Each component in the chain adds value to give the product an optimal output. Simply put, the value chain is the activity around the organization that assists the organization in creating the product or services. 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 essential strategy of a business ought to be a long-haul benefit, not simply income development. “Gainfulness is an estimation of productivity.” It eventually is the main factor in the achievement or disappointment of a business. “It is communicated as a family member, not a flat-out sum. The benefit is “the capacity of a business to create an arrival on speculation dependent on its assets in examination with an elective venture. Albeit an organization can understand a benefit, this doesn’t mean the organization is productive.”

More income from deals doesn’t generally mean more benefits. Income is just a piece of the story. Fewer costs rise to benefit. A business must keep its expenses as low as possible to ensure it is expanding its benefits. How would you augment benefits?

Not always. More sales mean more profits and don’t ensure more wealth. True wealth occurs when earnings can become cash flow. Some businesses are profitable but do not generate profits.

In this article, we discuss how to create a company structure that allows you to have profitable businesses that produce real wealth.

For many entrepreneurs, the growth of their companies is a function of sales. Sales could grow by 25%, but their earnings could have increased only 10%.

If you don’t have tight control of your figures, you can, without much of a stretch, locate that a business is selling a more significant amount of something for less by and large than it did already. It might sound straightforward. However, it’s astonishing that several organizations fall into this snare. You must survey your marketing projections continually and glance at the patterns to determine where your most beneficial zones are.

The actual growth of companies is measured in terms of profits, But if we want to measure the change in the wealth created by the company, we must estimate it based on the company’s cash flow.

Companies sell cash and credit. Sales to credit are converted into cash flow until they are required. In addition, you should consider “net sales,” that is, sales invoiced fewer returns, replacements, discounts, and bonuses. If you want to make it more accurate, you must discount those sales commissions by credit card, the commissions of the sellers, and the shipping costs, if any.

Regarding the profits shown in the Income Statement, one of the three financial statements every entrepreneur must receive monthly considers that “profit” is not cash flow. The profit shown in the Income Statement is the strict calculation of the profit based on the following criteria:

• Billed sales (not charged)
• Purchases were made to suppliers that entered inventories, but not all have been spent yet.
• The sales costs of sales invoiced, even if the products were manufactured or purchased months ago.
• Not all these purchases have been paid to suppliers yet.
• The wages of the month with all their social charges and legal benefits, although it will pay some of those expenses later. Social charges the following month, holidays, and bonuses (thirteenth month) several months later, etc.
• Other expenses correspond to that month, although they were paid months ago or in the future.
• The expenses are expenses, but they are not cash flow like the “depreciation expense.”

Understanding all this is of great importance for the employer because it allows you to measure, every month, the following:

• Growth in sales
• Profit growth
• Growth in cash flow

Of those three, the third metric is the one that measures proper business growth.

Learn to Control the Results of Your Company

Entrepreneurs urgently need to know and learn how to use the necessary, functional, and practical management control tools to understand, analyze, and manage their company’s finances.

The entrepreneur does not need to be a financial expert. Still, knowing and using all the available tools to control your company’s financial results and make accurate and timely decisions is crucial. 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.

Investing in the stock market can double your money every ten years, and Buy and Hold is one of your options when choosing a strategy to start investing.

I started investing with Buy and Hold, also known as investing in dividends and Buy and Hold. Right now, I have three different investment strategies, and one of them remains this. I have already told you it is not my preferred strategy.

When stocks are held for over a year, they usually allude to a drawn-out holding or long-haul venture. Yet, one year is an amazingly significant timeframe for unpredictable and value-delicate business sectors as stock costs can shoot up or down radically inside this period in such cases. You must pick Stocks cautiously. There are numerous systems in the market that you can use to select the correct stock for a long-haul venture.

I don’t like one thing about dividends, and I didn’t know it at first. But don’t hurry; I’ll tell you later.

What are the Buy and Hold?

Buy and Hold (B&H) is a long-term investment strategy based on buying shares of stable companies that distribute dividends and hold them indefinitely. Of course, on occasion, claims will be sold, such as in the event of irreparable deterioration of the company. These types of companies are known as Blue Chips.

It is not enough to make a purchase—that’s it—you must invest continuously (that’s why it’s a long-term strategy).

It is essential to try to buy at the best possible prices, but choosing the right companies is necessary (if we never want to sell, you must choose very well). The objective of the Buy and Hold is to obtain dividend income that allows you to have an extra salary, just as if you bought a property and rented it.

Before, I told you that I have three strategies, and the 3 share these characteristics, so they are not unique to Buy and Hold.

It is investing in the long-term

You are not looking for a punch. The intention is not to buy and sell continuously but to buy and hold indefinitely.

It is investing in the equity/stock market

Therefore, what characterizes Buy and Hold is that you buy shares of large and stable companies that distribute dividends.

Desired Characteristics in Companies – Blue Chips

Companies with continued benefits

If we buy a company to maintain it indefinitely, we must ensure that it always benefits, either in times of prosperity or crisis. We do not want a company that has a bad year every three years or things like that. We are looking for companies with stable and growing benefits.

Large companies

If you want to ensure that the company has a long-term future, you must consider the company’s size. Small companies are easily manipulated and may have problems due to their size, so acquiring large companies with high market capitalization is essential.

Companies that distribute dividends continuously

The key to Buy and Hold is to look for a periodic income, so we want companies to share a portion of their profits as dividends.

We are looking for companies with a good dividend distribution history, not cyclical companies that pay dividends only in the good years.

Companies that have been in the stock market for years

We are looking for companies with a history of benefits and dividends, so companies must take 5-10 years or more in the stock market to have that history.

Many new companies continuously go public, and they get a lot of publicity, so many people invest in them. However, not having a history behind them makes it very difficult to predict whether the bet will go well or not.

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 lack of liquidity of the business or the belief that there is no obligation to register as self-employed is just one reason why the self-employed worker stops being up to date with the Administration. If the creditor is Social Security, you should know that what awaits you is not exactly a dish of good taste, so we recommend you always check the box. In the following lines, we deal with the costly consequences of having debts with Social Security due to non-payment of fees.

Certain obligations prompt your Social Security installments to be decorated. These incorporate government obligations like administrative charges, bureaucratic understudy advances, kid backing and divorce settlement, and casualty compensation. There is one warning that you should know about this theme.

Suppose your Social Security benefits are saved legitimately into your financial balance. In that case, the bank is legally necessary to shield them from garnishment at whatever point the leaser endeavors to take cash from your record. Assuming, in any case, you get a Social Security check and store it yourself. The bank can freeze your record when the lender attempts to take cash from it. You would need to go to court to demonstrate that the money in your record is from your Social Security benefits.

The Cost of Not Paying the Self-Employed Quota

If you are one of those people who has crossed your mind not to register in the Special Regime of Self-Employed Workers (RETA), let us tell you that it is a terrible idea. By Labor Inspection or ex officio, the Administration can force you to register as self-employed and retroactively pay the corresponding fees; this, added to the surcharge of 20% to pay late, is a blow to your pocket.

Loss of Bonuses

But that is not all. Having debts with Social Security, either because you have not registered as self-employed or are not paying monthly fees, reduces the possibility of benefiting from bonuses. According to the previously mentioned case, the Administration forces you to register as a newly self-employed person. In that case, you will not benefit from the flat rate or other bonuses to the fee directed to those who start their activity. Suppose you are already enjoying any of them and stop paying just one of the monthly installments. In that case, you will lose the right to continue benefiting from the reduction at least until you make up the payment of the debt, a moment in which you take the bonus in the period that corresponded.

Dismissal of Subsidies

Add and follow. Another consequence of not being aware of your obligations with Social Security (also a tax) is the refusal or non-payment by the Administration of subsidies called by any public body. It is indicated in Article 13 of the General Subsidies Law:

The persons or entities in which any of the following circumstances may arise shall not obtain the condition of the beneficiary or collaborating entity of the subsidies regulated in this Act. However, due to the nature of the subsidy, its regulatory provisions are accepted:

• Not being up to date in complying with the tax or social security obligations imposed by the current provisions in the manner determined by regulation.

Non-Payment of Benefits

If all the above did not seem to be enough punishment for getting into debt with Social Security, there is another penance: the non-payment of benefits. Suppose you have outstanding Social Security accounts when you request your retirement. In that case, you will not be able to collect the pension without first paying them or, failing that, postponing them. However, we remind you that Social Security does not allow the postponement of debts of less than double the current monthly SMI.

There may be cases in which the debtor is declared uncollectible by the Administration, and the debt is not due. Still, in the fine print for calculating the pension, the outstanding payment period will be deducted from the total time, which could lead you to not comply with the minimum time required in case the debt is large and the period is too long.

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.