Category: Content

Creative decision-making has been known to be linked with creativity. Brands in the past have employed creative and digital marketing agencies for this skill and have created campaigns and ideas that sent internet contributors buzzing. However, due to artificial intelligence and its many branches, brands are changing how they want things done. 

Artificial Intelligence (AI) has caused panic in industries worldwide, with countries employing its different branches to outperform the competition. AI has been a rapidly growing innovation, leaving researchers and scientists to find ways to employ it. Predictive algorithms and machine learning are teaching us something about human behavior every other day, helping brands make decisions that align with emerging trends. 

How Has Artificial Intelligence Impacted Creative Decision-Making?

Data collected by innovative AI programs are changing the creative decision-making arena into a systematic process. More brands want to create strategies and design campaigns around what data interpretations tell them. As the industry dictates, brands are investing in technological solutions for decision-making rather than basing their decisions on creativity. 

Because most companies want to make a profit, this method of consumer insights works perfectly in their favor. For instance, extensive research and statistics show consumer preference for non-plastic goods for packaging. This has also led brands preceding plastic bottles to provide a more sustainable and environmentally friendly solution. 

Data-Driven Creativity

Technological advancement and the rapid pace of data collection online have rarely afforded brands the luxury of time to develop purely creative campaigns. This urgency has created an objective creativity phenomenon, where creativity emerges from a place of uniformity. Brands now have access to similar kinds of data. The starting point of most creative decision-making processes has been set, thanks to AI. 

Companies and their strategies are now driven by data and what popular trends exist. Creative think tanks where teams sit down and put their heads together based on a crazy, disruptive idea for a brand from scratch seem to be a past technique. Technology has made the process of successful campaigns one step shorter.

Evolution of Content Creators

Content creators will shortly move from solely writing and content creation to more decision-making roles based on the interpretation of data. Marketers often feel pressured when they need to roll out multiple campaigns quickly. For instance, within a typical year, brands have a combination of campaigns, starting with New Year’s Campaigns, Seasonal Campaigns, Product Launch Campaigns, Brand Awareness Campaigns, and more. 

Brands can depend on data-driven statistics to keep up with changing customer demands and competitor brands. Not only will this approach help managers reach more milestones, but it will also help them cut down multiple costs and save time. 

The Impact of Automation on Content Creation and Photography

An incredible amount of automation of processes means more content creators are entering markets. AI efforts can now create journalism content, forcing people entering the field to be open to an evolving industry in the future. Similarly, photography will no longer be perfected for four years of college education. 

The evolution of intelligent, professional cameras and smartphones has helped interested parties learn editing and photo enhancement with the click of a few buttons. Artificial intelligence reduces the time to complete redundant tasks, leaving more space for people to think even more creatively. As a result, what is considered a professional process today will just be a skill you can pick up tomorrow. 

Harmony of AI and Human Creativity

However, the progress of AI is not to be mistaken for replacing human creativity. On the contrary, humans will have more time to spend being creative once the monotonous tasks have been reduced and outdated data collection and interpretation processes are replaced. With so many ways of measuring creative effects, creative decision-making will transform into science and no longer be about art.

What Is Next for Creative Decision-Making?

With monotonous tasks reduced, we can focus on creative ways of developing and executing campaigns. Artificial Intelligence and its rapid growth benefit companies by saving essential resources such as time, costs, and human resources from being devoted to tasks that can easily be carried out with the help of algorithms and machine learning. 

Changing times call for innovation and subsequent adaption to stay relevant. Technological changes are the silent helpers to take care of tedious tasks, so more important aspects of businesses can be worked on while saving valuable assets. 

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 the contemporary world, almost everyone possesses a card. These cards come in various forms, including banking cards (both credit and debit), establishment cards (enabling purchases within a network of stores or businesses), and telephone or point accumulation cards.

However, our attention will be directed towards a specific category of cards that can lead to complications if lost or stolen – namely, credit, debit, or establishment purchase cards. The criminals’ potential misuse of these cards can lead to unwelcome alterations in our financial accounts.

Loss of Credit, Debit, or Purchase Cards

When it comes to credit, debit, or purchase cards, a crucial piece of advice is to carry only a select few at a time, considering the current era. The loss of a wallet is a bitter experience, given the array of cards it typically holds – from IDs and driver’s licenses to insurance cards and Social Security.

However, if an unfortunate loss occurs, swift action is imperative. Ensuring the safety of your cards and maintaining a constant awareness of their whereabouts is paramount. This vigilance is the key to promptly realizing their absence and taking the necessary steps.

Theft of Credit, Debit, or Purchase Cards

In the event of the theft of credit, debit, or purchase cards, it is crucial to take immediate action. If you have evidence that your cards were stolen, such as a robbery, break-in, or car theft, your first step should be to call the respective card issuer to cancel them. Simultaneously, report the theft to the authorities promptly.

Filing an official complaint is a crucial document detailing the day and time of the incident. This documentation becomes invaluable when addressing any potential misuse of the cards. While you may be fortunate enough to cancel the cards before unauthorized individuals use them, the risk of monetary loss or unauthorized purchases remains. Therefore, swift reporting and follow-up actions become essential in such circumstances.

Understanding Responsibility for Unauthorized Card Transactions

In instances of theft, customers are typically held responsible for unauthorized transactions made before the official complaint, with a liability limit of $150. The financial institution will assume responsibility for amounts exceeding this limit. However, suppose funds are withdrawn from our accounts via an ATM using our PIN. In that case, the entity may not bear responsibility, as it could be considered product misuse, especially if the PIN is readily available (e.g., written down somewhere). It underscores the importance of safeguarding personal identification information to prevent unauthorized use in case of card loss or theft.

Unauthorized Establishment Charge

If the card has been used for purchases in establishments following a report of theft or loss, the user should file a complaint referencing the earlier report. Any purchases made after the denunciation date will not be the user’s responsibility. This is supported by evidence that the user did not sign the receipts for those purchases, and the establishment failed to identify the cardholder through their ID accurately.

Consequently, the establishment is obligated to refund the money to the cardholder. When making purchases at establishments, it is advisable to avoid losing sight of the card to prevent the duplication of the magnetic strip. Additionally, retaining all purchase receipts is recommended to safeguard against being charged amounts exceeding those documented on the invoice. This proactive approach helps protect the cardholder from potentially fraudulent transactions and ensures a smoother resolution of any disputes.

Unauthorized Online Charge

When dealing with online purchases, fraud becomes more intricate, mainly when establishments are located in different parts of the world, making the claims process more challenging. In such cases, reporting the incident to the authorities and promptly canceling the affected cards are crucial steps.

To proactively prevent misuse of cards on the internet, it is imperative to ensure that the websites where card information is entered are exclusively secure. This means using pages with security certificates, identifiable by the “HTTPS” at the beginning of the web address – indicating security. Additionally, a padlock icon should be visible in the lower-right part of the screen. These security measures help users verify the legitimacy of online platforms and enhance protection against potential fraudulent activities.

Duplication of Cards

In the unfortunate event of card duplication and subsequent fraudulent use, it is crucial to report the incident promptly and cancel the affected cards. Moreover, it’s essential to be aware that in such situations, cardholders typically have the right to avail themselves of insurance coverage to address the theft.

Many cards come with built-in insurance coverage that extends to various contingencies, including those discussed here. This insurance can offer financial protection and assistance in mitigating the consequences of unauthorized transactions resulting from card duplication. Therefore, in addition to taking immediate action to address the security breach, cardholders should explore and leverage the insurance coverage associated with their cards to facilitate recovery and resolution.

In summary

In summary, when faced with the loss or theft of cards, the immediate and crucial steps are to call and cancel them as soon as possible. This swift action is essential to mitigate potential risks, prevent unauthorized use, and initiate the necessary procedures for reporting the incident to the authorities and relevant card issuers. Additionally, proactive leveraging of insurance coverage associated with the cards can contribute to a more comprehensive and efficient resolution of the situation.

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.

2020 was a year of struggle and challenge for people and industries, but the housing market stood firm in adversity. Now, in 2024, markets are recovering and stabilizing, adapting and evolving around new innovations and shifting demands. 

Here are some trends and innovations to consider if you enter the housing market this year.

Rising Prices

Prices in the housing market have been on the rise for some time now, having more than doubled in the past 30 years. This trend is about to stay the same, but data shows that prices are now rising slower than in previous years, which is a good sign.

Low Inventory

The primary cause for the consistent rise in prices in the industry is a low inventory; too many people are trying to buy houses, and not enough homes. COVID-19 exasperated this issue further when people started trying to move to locations with lower infection rates. Even after the pandemic ends, it is unlikely that this problem will be resolved.  

Rising Mortgage Interest Rates

Not long ago, the middle class could take on a mortgage to pay the full price for a new house and pay it back gradually over time. This has become increasingly difficult as mortgage rates have risen to impossible highs.

The COVID-19 pandemic positively impacted mortgage rates as interest rates across the country fell in 2020. Market analysts predict that this decline should continue downward throughout 2024.

Demographics

Since 2019, Millennials have surpassed Gen X and Baby Boomers as the dominant age group in the home-buying market. This trend will continue as more Millennials consider buying their first homes.

From Cities to Suburbs

More people have started to migrate away from urban city developments instead of looking for homes in smaller suburban communities. As the new predominant demographic in the buyers’ market, Millennials prefer suburbs over city residences because they are more affordable and experience lower crime rates.

Virtual Reality  

As Millennials have taken over as the primary demographic in the housing market, the tech-savvy generation has brought technological innovations quickly, pushing the industry in a bold new direction.

One such innovation is using Virtual Reality (VR) in the housing market. Virtual Reality housing tours were already a niche practice offered by a few realtors and agencies before 2020. However, the pandemic saw VR becoming a popular method of conducting long-distance house tours.

VR home tours have many advantages over in-person ones for both agents and buyers. 

• VR allows real estate agents to market and sell properties with little investment.
• It allows buyers to participate in several daily tours, making their home-buying journey much faster and more efficient.
• Thanks to VR, buyers can experience house tours from their homes and across cities and countries if they hope to move internationally.
• It allows potential buyers to experiment with the interior design and décor of the house by instantly customizing a digital 3D representation of it in VR, as per their liking, when such modifications to the real house would be time-consuming and expensive.

Smartphone Applications

Since smartphones started using applications over a decade ago, they have become an important part of our everyday lives. There seems to be an app for everything, and we are always connected to our smartphones in some capacity. Seeing this, real estate agencies have also decided to leverage the power of apps, creating their own apps that make the home buyer experience easier and more efficient. Apps allow buyers, sellers, and agents to remain connected and provide a platform upon which buyers can find the best options currently on the market.

Cryptocurrency

The sky-high price of Bitcoin has made it difficult for the virtual currency to function as a standard means of exchange. But with prices rising daily, the housing market may be the perfect space for Bitcoin to thrive. Experts believe the technology upon which cryptocurrency is produced and traded, Blockchain, could also be a tool for innovation in the housing industry.  

Conclusion

In conclusion, the housing market, resilient in the face of the challenges of 2020, is now in a phase of recovery and adaptation in 2024. Despite ongoing struggles like rising prices fueled by low inventory, the market is showing a positive sign with a slower pace of price increases. Demographic shifts, particularly with Millennials as the dominant force, influence preferences toward suburban living and drive technological innovations. Virtual Reality (VR) and smartphone applications have transformed the home-buying experience, offering efficient and customizable solutions.

Moreover, the potential integration of cryptocurrency, such as Bitcoin, into the housing market reflects a dynamic landscape open to innovation. Navigating these trends and embracing technological advancements is crucial for those entering the housing market in 2024, ensuring a successful engagement with the industry’s evolving dynamics.

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

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Accounting Subcontract or Hire: The Pros and Cons for Your Business

Managing finances can make or break a business. Whether you’re steering a fledgling startup through uncharted waters or running an established company that’s scaling quickly, the question of how to handle accounting is pivotal. Should you hire an in-house accountant? Or does partnering with a subcontractor make more sense?

This conversation is about prioritizing your goals: cost savings, expertise, flexibility, or control. Let me share what I’ve seen after nearly two decades as the CEO of Complete Controller, where thousands of businesses have grappled with this very decision—and succeeded by finding the right fit.

Benefits of Accounting Subcontracting

Save money where it counts

Building an in-house accounting department isn’t cheap. Salaries, health benefits, training expenses, and office space add up fast. With subcontracting, you’re cutting straight to the essentials: you only pay for the expertise and time you need.

Take it from XYZ Inc., a mid-sized manufacturer and one of several examples we can draw. When they turned to subcontracted accounting services, they slashed financial department expenses by 30%. On average, businesses save 20-30% in overall costs by choosing subcontracting over an in-house hire.

When every penny counts, subcontracting is a powerful way to safeguard profitability without sacrificing precision.

Access niche skills

Accounting isn’t one-size-fits-all. Whether it’s navigating complicated tax codes or staying compliant with federal regulations, subcontractors often come armed with a toolbox jam-packed with specialized skills.

For instance, I’ve seen businesses struggle with multi-state taxation—a tricky area. With subcontractors who have experience in these nuances, you don’t just get advice; you get actionable strategies. They live and breathe tax planning, financial forecasting, and compliance, giving your business a leg-up without the heavy lifting on your end.

Adaptability on tap

Let’s be honest: business is unpredictable. Today, you’re cruising; tomorrow, you’re scrambling to meet a tax deadline or handle an audit. Subcontractors bring a level of flexibility that you just can’t replicate with in-house staff.

Need extra hands during tax season? Want to scale down when it’s smooth sailing? Subcontractors thrive in shifting priorities. In fact, 70% of small businesses report that subcontracting streamlines operations, especially in peak periods. And if you’re building something scalable, flexibility is the name of the game.

For tips on how to manage fluctuating bookkeeping needs effectively, take a look at these small business bookkeeping tips.

Drawbacks of Accounting Subcontracting

You lose some control

When outsourcing, you’re handing over a piece of the puzzle—and, occasionally, you’ll find this means less oversight than you might like. Misalignments can happen if workflows aren’t clearly established in the beginning.

But, believe me, this is solvable. Customizable contractor agreements—ones that clearly outline expectations, benchmarks, and deliverables—can smooth out any potential bumps.

Data security risks

Trust is critical. Sharing sensitive financial data with subcontractors requires extra vigilance. Let me tell you from experience, there’s nothing more concerning to business owners than vulnerabilities in data protection.

To protect your information, vet providers thoroughly. Certifications like CPA status are just the beginning. Confirm they adhere to compliance frameworks like GDPR or SOX and use confidentiality agreements in every subcontract. IRS guidelines on independent contractors can help you understand many of these responsibilities.

Benefits of Hiring an In-House Accountant

Total oversight

Imagine having someone who fully understands your operations and delivers actionable insights aligned with your goals—that’s the beauty of an in-house hire. You dictate priorities, review financial reports on demand, and maintain full control over your financial processes.

Better oversight fosters accurate financial statement accuracy, empowering small businesses to make smarter, more timely decisions.

Built-in confidentiality

Sensitive financial data feels safer when it never leaves the team. In-house accountants create an environment of trust that’s tough to replicate with an outside firm. They’re immersed in your business’s culture and are often more vested in long-term goodwill.

A customized approach

Your company is unique—so generic, “one-size” solutions just won’t do. In-house accountants can tailor strategies specifically to your business, solving idiosyncratic problems subcontractors may not take the time to learn. Whether it’s getting granular with inventory evaluations or building equity allocation plans, an in-house expert often means clarity and cohesion.

Drawbacks of Hiring an In-House Accountant

Higher costs

The average U.S. accountant earns roughly $80,000 annually, and once you add benefits, software licenses, ongoing training, and more, you’re looking at significant long-term commitments. Unlike subcontracting, this model only pays off in larger organizations with high-volume or complex accounting needs.

Limited expertise

No matter how skilled your staff accountant is, they’re only human. A singular source of expertise may struggle to cover unexpected scenarios, such as navigating tax appeals or handling financial crises. Broad challenges often require teams of specialists, which subcontractors can provide more seamlessly.

Weighing Your Choice: Key Factors to Consider

Control or flexibility?

If you thrive on being in the driver’s seat and need financial control internally, an in-house hire makes sense. But if adaptability is your superpower, subcontracting allows you to scale services when—and how—you need them most.

Budget realities

Take a hard look at your cash flow. Subcontracting means minimal upfront costs; hiring in-house is a higher-level investment. But neither approach works without a clear understanding of your financial limits.

Specialized needs

Do you face challenges like regulatory compliance in multiple states or advanced tax optimization? If so, subcontracting’s niche expertise is a big win. Check the SBA guidelines on hiring contractors vs. employees for more clarity on roles and regulations.

Tips for Successful Subcontractor Partnerships

Nail the agreement

Solid subcontract agreement clauses aren’t optional—they’re the lifeline of every productive partnership. Define everything: scope of work, payment schedules, confidentiality standards, and deadlines. For a head start, explore these subcontractor agreement templates.

Vet qualifications thoroughly

Credentials matter. Ensure your subcontractor is certified, experienced, and transparent in their work methods. Past reviews and case studies (like XYZ Inc. discussed earlier) offer valuable insights.

Proactively manage risks

Effective subcontractor relationships require more than signing a contract. Schedule routine financial audits, keep open communication, and establish contingency plans. You can find more insights on this in my post about managing business accounting.

Conclusion

There’s no universal answer to whether you should hire an in-house accountant or embrace accounting subcontractor services. The “right” choice comes down to your business’s stage, priorities, and resources. Subcontracting offers savings, flexibility, and specialized skills, while in-house hires bring control, confidentiality, and tailored strategies.

At Complete Controller, we’ve spent 15 years guiding businesses, just like yours, through these tough decisions. Whatever path you choose, make it with confidence. When you’re ready to explore the best options for your accounting needs, learn more from the experts at Complete Controller.

FAQ

What’s the top advantage of subcontracting accounting?

Cost savings and access to specialized talent.

How do I ensure confidentiality with subcontractors?

Use clear, enforceable contractor agreements and verify their data security protocols.

What are must-haves in a subcontractor agreement?

Clearly outline the scope, payment terms, confidentiality standards, and deadlines.

How do I manage subcontractor risks?

Set up regular reviews, keep communication consistent, and have fail-safes for emergencies.

When does it make more sense to hire in-house?

If you need daily financial oversight and bespoke strategies built for your unique operations.

Sources

• https://entrepreneursmentor.co.uk/knowledge-base/hiring-a-subcontractor-vs-an-employee/
• https://www.nextinsurance.com/blog/advantages-and-disadvantages-of-subcontracting/
• https://www.investopedia.com/ask/answers/032415/whats-difference-between-outsourcing-and-subcontracting.asp

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.

Effective communication is the cornerstone of successful relationships, and this holds, especially in the realm of customer interactions. Shifting the focus from viewing customers as mere conduits for profits to acknowledging them as individuals is a fundamental step in enhancing communication skills. The language you choose and how you convey messages are pivotal in shaping these interactions.

Whether it’s face-to-face communication or digital correspondence, the methods employed and the content of your messages significantly impact the customer’s perception. Avoid the temptation of sending generic email blasts and expecting swift responses. As you observe how a shopkeeper addresses you, recognize that your customers are equally observant of your approach.

How do you build relationships with people? These techniques are the same ones you would use to build a relationship with your customer. First, the foundation for building any relationship is trust. When you put your trust in someone, and they trust you in return, you both work on building something that can last for a long time. If that relationship is the foundation of your business, then trust is the cement used to fortify that relationship.

Improve Your Communication Skills

Communication is the bedrock of any good relationship. Work on how you communicate with your customers and treat them as humans instead of a means for profits. If you notice how a shopkeeper talks to you, it stands to reason that your customers would notice the same in you.

Language choice is critical, and communication methods and messages matter significantly. Do not send email blasts and expect quick responses. If a customer walks in, be prepared, and do not give them the impression that they are an imposition.

Consumer’s Point of View

Some states require a form of agency disclosure at the beginning of a relationship. Forget about legal requirements from the agency from the perspective of the licensee and regulatory agencies. The main reason agencies exist is to impose the licensee’s fiduciary duties that need them to protect the customer. Customers trust you because you are representing them under agency employment. You are bound to keep their information confidential, disclose facts, obey the lawful instructions, safeguard all monies entrusted, and be loyal to them.

Consumers do not care about the intricate nature of the regulatory agency rules. They genuinely care whether we will protect their interests and if they can count on us.

Use Realtor Pledge of Performance

The National Association of Realtors (NAR) has summarized the Code of Ethics in a single-page document. The document sets a promise that each realator is bound to uphold in working with consumers and ensuring that their interests are placed above all others.

Ensuring customers that they can trust you because you adhere to a code of ethics and will promote their interests increases customer confidence and loyalty.

Gather and Use Testimonials 

Trust is essential, but you cannot convey that clients must trust solely you. Take a lesson from those businesses and companies that have spent millions of dollars learning and using the power of customer testimonials. When we go to Amazon to purchase a book, what is the first thing we see? Testimonials from others. What determines when you look up a new restaurant or hotel? Testimonials. People tend to trust others’ experiences more than what the hotel or restaurant has to say.

Gather testimonials from your previous and current clients and post them on a visible platform like LinkedIn, Facebook, YouTube, and your website.

Ask for Feedback and Use it

When you ask for feedback, the customers feel heard and valued. It also helps improve your brand, products, services, and processes.

Ask your customers to review your products online and check your reviews at least every week. Timely replies to feedback show how attentive you are to your customers. However, feedback is only valuable when you act on it, so be attentive to customer needs and demands for maximum profit. Be aware of customer feedback because it is critical to building any relationship.

Conclusion

You must do your best to build a long-lasting relationship with your customers. Customers want to buy something from a company they can trust and support. Similarly, create a necessity and use all your selling skills, but remember that customers are people just like you who want a positive buying experience.

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 you are forming a company, there are types of business options you can choose. Understand its legal structure and rules to decide what type suits your product or services best. 

Typically, there are four types of businesses

• Sole proprietorship
• Partnership
• Limited Liability Companies
• Corporations

Before creating a business, entrepreneurs must carefully consider their enterprise’s best type of business structure. Let us provide a quick overview so that you, as an entrepreneur, can make one of the most critical decisions in life easily.

Sole Proprietorship

Sole proprietorship allows people to open their businesses with complete ownership and responsibility for their successes and failures. However, it is essential to remember that starting and then operating a business can be equally stressful and demanding as it is rewarding.

Even if you believe that sole proprietorship is the best option for you, surround yourself with positive energy and great support from other business owners; local business centers can also help you thrive in operating and growing the business.

A sole proprietorship is an unincorporated business owned and run by one person – with zero distinction between the owner and the business. The sole proprietor enjoys all the profits and is personally responsible for all business liabilities, losses, and debts. A sole proprietorship is one of the latest expensive business structures to start.

Partnership

A business partnership is the best source for business growth since it makes extra deliveries possible with superior quality. What is interesting is that there is no burden on one person. You can grow your business with the highest speed by enforcing strict laws to conduct your trades. Various companies are following this trick because of different partnership manifestations in other forms. There is an investment in projects with a total share of technical education and influential ideas from the business owner.

However, even the best partners may not be all rainbows and butterflies; we are humans. It is natural to disagree, have an opinion, or not understand and comprehend what the other person is trying to implement.

When the blues hit all your business partnership vibes, how do you manage to rebound? To set the partnership up for success from the start is a significant first step. Take all the time you need to sort the details out and trust your instincts. If it does not feel right now, the chances are high that it will not be right later.

Limited Liability Company

Limited Liability Companies, or LLCs, are one of the best and most flexible business types. LLCs include aspects of corporations and partnerships. They retain the tax benefits of the LLC. If the LLC chooses to be treated otherwise, i.e., as a C corporation.

Plus, Limited Liability Companies benefit from the limited liability status. The company exists as its legal entity in an LLC, protecting the LLC owners from being personally liable for the debts and business operations.

Corporation

A corporation is a separate legal entity that the shareholders create. When you incorporate a business, you protect owners from liabilities for their legal disputes and debts. Establishing a corporation poses greater challenges and complexities than other business entities.

Suppose one of the owners declares bankruptcy or passes away in a partnership or sole proprietorship, which is a complete dissolution. Corporations exist as officially separate entities.

A corporation is divided into three types

• S Corporation: This consists of up to one hundred shareholders. This corporation passes through entities like partnerships, meaning profits are not taxed twice.
• C Corporation: It is the most common type of corporation. It is taxed as a corporate entity, and owners take gains that are later taxed individually.
• Non-profit Corporation: Charitable organizations often utilize this one. You must use all forms of incoming cash flow to spend on any organization’s plans or operations.

Overall

If you are thinking of starting your own business, give it a go; do not stop or wait. Get all your resources in action. We hope this article has helped you understand where your business should lie. Study more about how these businesses work legally; you will have a clear mental picture of what you want.

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.

Moving for most people is like a nightmare that never stops haunting their dreams. Uprooting your life and packing everything up into different boxes is traumatizing. Changing your residence to an entirely new location can be stressful, and that can easily overwhelm you. To ensure your move is as smooth as possible, avoid these common problems during an activity.

Unnecessary Items

Retaining unnecessary items is a common mistake when beginning life in a new home. It’s impractical to pack belongings that have been collecting dust on shelves for years, especially when you know you won’t use them. To streamline your move, consider parting with items unused for over a year. Donate them to charity or include them in a yard sale—avoid investing time and money in things destined to remain unused.

Lack of Planning

The lack of planning is akin to setting oneself up for failure; as the saying goes, “If you fail to plan, you plan to fail.” This phrase aptly captures the essence of moving without careful consideration. Would you embark on a skydiving adventure without a parachute, adopting a “Let’s see how it goes” approach? Moving shares similarities, albeit a bit scarier. Without thorough planning up to the last detail, things can quickly spiral out of control.

Here are the things you need to prepare

• Plan your finances (enough money in the bank for payments)
• Getting all the paperwork in order
• Make a timetable or calendar of the involved tasks
• Discussing your moving details with the moving company (how you want things done)

Before engaging a professional moving company, it’s essential to consider a few key factors. Movers won’t automatically identify sensitive or fragile items within your boxes and won’t be aware of your budget unless you communicate your needs. Establishing a two-way relationship with clear communication is crucial. Here are some effective strategies to optimize your moving experience and save money.

Hiring Professional Movers

Contrary to common perception, hiring professional movers is often more cost-effective than attempting a DIY move. When you enlist a moving company’s services, you ensure precision in handling every box and item according to your preferences. In a DIY scenario, the responsibility for any breakages rests solely on you, and you bear the expenses of replacing the damaged items. Opting for professional movers provides a service guarantee and minimizes the financial burden associated with potential damages.

Proper Labeling

It is crucial to label and categorize each box during packing meticulously. Proper labeling serves several purposes, including facilitating quick retrieval of items and ensuring that everything has been successfully moved to the new location. Additionally, clear labeling aids both you and your movers in identifying the designated area for each box in your new home. This simple yet effective practice enhances organization and streamlines the unpacking process.

Planning Ahead

Prioritize planning by ensuring you have all the necessary supplies well before the moving day. Avoid a last-minute rush for packing boxes when your belongings are already outside. If you’re opting for moving services, it’s advisable to make your booking in advance, especially before the peak season hits. Additionally, consider early bookings for other essential services such as painters, rental supplies, and cleaners to secure a smooth and well-coordinated moving experience.

Looking for any Leakages and Cracks

Upon moving into a new house, conducting a thorough check for any leakages and cracks is essential. Ensuring everything is in proper working order is crucial to avoid surprises. You wouldn’t want your first bathing experience in your new home to become a disaster due to overlooked issues. Taking the time to inspect for potential problems early on can save you from inconvenient and costly repairs later.

Bottom Line

In conclusion, we understand that moving is a challenging endeavor. To assist you in navigating this process more smoothly, here are crucial money-saving tips that can contribute to a comfortable and hassle-free experience in your new place. By following these recommendations, your next move, whether to a new home or office, can be executed quickly, comfortably, and, most importantly, cost-effectively.

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 we go to a store or search for a service, we usually ask what the value of what we are about to buy is. But do you know that there is a difference between price and value? And as much as we do not always make that distinction when we go shopping, we’d better think about whether we are getting something for value or value when it comes to investments.

Are you confused? What do you think of going deeper into this idea to understand it better? Follow the post we prepared and ask your questions!

How Much Does it Cost to Produce and Distribute Products and Services?

When a company produces a commodity or a service, it calculates the resources needed to deliver the solution to its customers. This calculation includes fixed costs (water, electricity, telephone, internet, rent) and variable costs (inputs, payroll, and distribution). Once you calculate the cost of production, then you will add the taxes due and the profit margin together. At the end of the process, we have the price of the product or service!

What Relevance Does the Consumer Usually Give to Products and Services?

Whoever values ​​an investment is the buyer. So, what is a priority for you may be relevant for another person. For example, it is a case of taking a trip or buying a car. Both options populate the dreams of various consumers. While some want to cruise, others want to buy a new vehicle to make their family more comfortable. And neither of the two profiles is wrong! They are only different points of view, adapted to the reality of each one.

In the End, is it Better to Prioritize Price or Value?

We tend to prioritize lower prices when discussing everyday items such as pens. We can satisfy our needs in the same way as its more expensive counterpart. However, when making investments, you must consider other factors. Here comes the value of a good, which can have an influence overall.

You want to buy a new car because your family is growing. This may seem like an unnecessary luxury. However, this acquisition has excellent value for you, so much so that the price to pay does not equal the benefits you will get once you have your new car in the garage.

For those who dream of traveling the world, the money spent on travel, lodging, food, and other necessities does not compare with the experience of meeting new cultures, experiencing exotic foods, and people of different profiles.

However, you do not have to pay more than the fair price for what you are getting, do you? And this is worth it even if experiences, comfort, and safety have the most incredible value in the world for you! It is the case of buying a property, for example. You have the good at your disposal in less time by opting for financing, but for a higher price than it is worth it. Already choosing a real estate consortium, you can plan yourself more peacefully, paying less, but not for that, letting you see your dream come true!

The same logic holds for other investments. Do you need to travel today, or can you wait? Is the new car urgent, or does it still have time until the children arrive? Think about it: what you save with planning can be used in other investments!

And why are we talking about it? Simple: only end up spending what is necessary. You need to find the balance between price and value, investing wisely!

Conclusion

Distinguishing price from value is crucial for your brand’s success. Value, a magnet for lasting customer loyalty, is exemplified by American brands like Mac and Coke, which are desired by over 90% monthly. Satisfy customers with top-notch quality, and they’ll willingly pay higher prices, ensuring sustained brand reputation and customer satisfaction.

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.

Value investing involves strategically purchasing assets or investments at prices below their intrinsic value. Instead of relying on complex definitions or abstract financial theories, value investing boils down to a straightforward principle: buying something for less than its true worth.

To illustrate this concept, consider the scenario of a store, such as a clothing outlet, undergoing liquidation. During this process, merchandise is often sold at significantly reduced prices. Value investors recognize the opportunity in such situations, as they can acquire items at a favorable cost compared to their regular market value. This principle extends beyond retail scenarios to encompass investments in companies.

Similar to a store in liquidation, there are instances when a company is facing financial distress or undergoing a phase that can be likened to “liquidation” mode. This might be due to factors such as economic downturns, poor management decisions, or industry challenges. In these situations, value investing is a strategic approach to evaluate and capitalize on undervalued opportunities.

Value investors analyze companies experiencing temporary difficulties or market mispricing, allowing them to identify potential bargains that other investors may overlook. By delving into a company’s fundamentals and examining its assets, earnings, and growth potential, value investors aim to uncover discrepancies between the market price and the investment’s intrinsic value.

Value investors gain a distinct advantage through this careful study and understanding of a company’s true worth. While the broader market may be influenced by short-term fluctuations or sentiment, value investing remains rooted in the long-term perspective of identifying and acquiring assets at prices below their intrinsic value, ultimately seeking to benefit from their potential appreciation over time.

Is Value Investing a Fad?

Here is a humble opinion on value investing, and I will also point out what is and what is not. For those who do not know this investment flow, I will start from the beginning:

Value investing was developed as such by Benjamin Graham in the 1928 environment. Its investment philosophy is to buy assets for less than they are worth (intrinsic value) to generate a profit in the subsequent sale.

As you can see, nothing from the other world, buy cheap and sell at its price or more expensive. Sure, before Graham thought about it and carried it out, but Graham was the one who created the school.

Then came other mythical investors such as Warren Buffet, Peter Lynch, Carl Icahn, Seth Klarman, and Jeremy Grantham. It is fashionable because, in an increasingly efficient market, the way to excel is by finding inefficiencies such as those exploited by value investing.

Today, managers are doing things very well by following this philosophy. Therefore, the term and its followers have become popular, but we will study it to avoid mistakes.

Are There Different Types of Value?

Value investing is evolving. People like to make distinctions, although we discuss the same thing.

These subtypes are:

• GARP (growth at a reasonable price). We could not consider these companies cheaply concerning the market average, but this is because their development is much higher than the average of companies. For this reason, they do not list multiples such as PER and EV / EBIT, which are as low as those of other value companies.
• Deep value investing. It is value investing using elements of the “old school” balance. It is about finding companies looking at the balance. They usually hide jewels that are typically true treasures. For example, the NCAV, Graham & Dodd liquidation value, P / Net cash, and modifications of both.

What is Not Value Investing?

Value investing is NOT buying “apparently” good companies and keeping them forever. As much as they are called Coca-Cola, Santander, or Iberdrola, they are large and good companies because they have worked for years. Buying and maintaining them is not value investing. It will be a buy-and-hold or buy-and-hold strategy, but not value investing. See this continuously.

Investors who invest in Telephone or BBVA for dividends deceive themselves by telling themselves and others that they have made a “Valiu” investment when, in the best case, they will long-term aspire to approach inflation.

How Do You Learn About Value Investing?

There are valuation methods. Suppose you want to learn to detect sound and priced companies to enter the world of value investing. In that case, I leave you the link to the most recommended article in my blog on performing a “Fundamental Analysis for Rookies.” A common mistake is to use the same valuation method for all companies.

Each company is different and is in a different cycle (growing, already mature, expanding). Therefore, the considerations we need to know about each company are additional, and we will weigh variables more than others.

The differences are the most complicated part. Although there is a more rational and logical part, I explain myself. Once we understand the analytical role better or worse, we must see if our assumption is crazy.

Conclusion

As we explore value investing, this article aims to demystify its principles, dispel common misconceptions, and equip readers with the tools to discern true value. In a world where financial landscapes evolve, value investing remains a stalwart philosophy that transcends market trends, offering astute investors a timeless advantage.

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.

We have all had the opportunity to take out insurance to cover the possible risks we may suffer at a given time. The contract signed by the client and insurer is a fundamental pillar you should not overlook. We tell you everything you need to know about him!

Whenever we decide to approve insurance on a particular branch, from the beginning, we must be clear that we are creating a contract between the company and us. In this way, we agree with the company for certain services. The agreement we are referring to has a series of characteristics that we show you below.

What Does the Contract with Your Insurance Imply?

Signing the contract with your insurer shows a series of points and values that you and the company assume bilaterally.

Commitment

Both parties express their commitment to conduct what is communicated in writing in the contract. Both parties affirm your consent at the time of signing the policy. You and the insurer start a marriage you hope is as prosperous as possible.

Insurmountable Obligation

This feature involves both parties since both are going to do something. You, as insured, will cover the risk described in the policy, while the company will pay the insurance price, the so-called premium. The obligations are impassable and reinforce the commitment in the contract.

The Law, Above All

The contract you sign with the insurer is not outside the law. The contract will become a legitimate link between the insurer and you as soon as the contract is born. Contracts use legal mechanisms that force compliance with the agreement or repair breaches of either party. For this reason, we recommend that you read every detail of the contract before signing anything to ensure compliance with all clauses.

Qualities that All Contracts Have

The legal nature of the insurance contract uses a series of qualities that we explain in this section.

Unprecedented randomness

It may seem like a joke, but it is the reality. The principal obligation of the contract you sign is unknown if it will take place or not. It is unknown if the fact that the policy provides will happen. The situations reflected in the contract are strange until they happen: a fire in the home, a robbery, and the insured’s death are factors that highlight the randomness of this agreement.

To this, we must add another important aspect. Insurers do not specify the extent of the intensity of the incident. For example, it differs from burning only the kitchen as the entire property. Well, companies do not specify this.

In addition, unlike other contracts, we do not know when you will fulfill the obligation. In terms of insurance, the client can do nothing to cause the event. It would be best if you were foreign to the contractor’s will, which does not occur in other agreements.

Mandatory formality

To ensure that everything you agree upon with the insurance company is guaranteed, it is essential to follow a straightforward process. According to legal requirements, the agreement’s formalization occurs through signing a written document known as a policy. This document serves to secure all aspects outlined in the contract. It’s crucial to note that only the terms explicitly stated in writing will be considered valid; verbal approvals do not constitute a binding insurance right under any circumstances.

The good faith of the parties

The contract will always reflect and demand good faith from you and the insurance company. The insurer completely ignores the risk characteristics, for the good faith of the same must exist so that the needs of both parties are fully met.

Typical bilateral

As in all contracts, the insurance company and the insured approve insurance. There are cases in which the insurance is conducted with two companies simultaneously. It is known as coinsurance. Something more frequent is that the policyholder and the insured are not the same people. Despite this, we would only have two contracting parties for individuals who could be in each 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.