The Four Primary Business Systems

Posted on January 18, 2024January 8, 2024 by Stephen Huck

An organizational system is a complete structure of how an organization runs. The configuration defines how the division of businesses runs – the hierarchy and how communication flows throughout the organization. And if we break it down a little further, organizational structure explains how every role functions in an organization. With a distinct organizational structure in place, every employee knows what their duties are.

Business owners must think carefully about what systems to choose and improvise with each organization’s needs. It is simple: one structure that is right for a company may not work for another.

An organizational system is simply a company setup. One good organizational structure rests on both the flow of communication and hierarchy in a company. Each business needs to implement an organizational system, regardless of size. With a corporate structure, you invite multiple benefits, including improved productivity, efficiency, and decision-making – every arrangement has strengths and weaknesses.

Eventually, these pros and cons are based on your industry, the type of business you run, the organization’s size, and multiple other factors. Suppose you are considering every organizational system before determining which suits the company.

Four Types of Organizational Structures

Functional

If you have worked as an employee, you have worked in a functional structure. Functional structures are based on the organization being divided into smaller groups with specific roles and tasks. For instance, a company might have a group working in marketing, information technology, and finance.

Every department has a director or manager who answers at an executive level to oversee departments.

One great advantage of the functional structure is that the employees are grouped by skill set, letting them focus all their collective energies on executing their roles as a department. One of the challenges this structure brings is the lack of inter-departmental communication, with most discussions and issues taking place at the managerial level among the individual subdivisions. For instance, one division working on a project with another could have different expectations for its specific job, leading to issues down the road.

Divisional

A larger company that sometimes operates across multiple horizontal objectives uses a divisional organizational structure. The divisional structure permits more autonomy among groups within the organization. An example of this could be General Electric. GE has different divisions, including currents, transportation, aviation, and renewable energy.

Under this structure, every division fundamentally operates as its own company, controlling its resources and money on aspects of the division or projects.

This structure offers great flexibility to a large company with multiple divisions. It lets each one operate as its own company with one or more people reporting to the parent company’s management staff chief executive officer. Instead of getting all programs approved by the top level, you can also answer those questions at the divisional level.

However, a downside of this organizational system is that by focusing on the divisions, employees working in the same function in different divisions might be unable to communicate well. This structure raises problems with accounting practices and may have tax implications.

Matrix

Matrix is a hybrid organizational structure with a blend of organizational structure and functional structure.

In this system, employees report to two or more superiors depending on the situation’s projector. For instance, under normal functional circumstances, an engineer at a large engineering firm could work for one boss, but new projects may arise. The employee could also report to the project manager or their boss for other everyday tasks during the project.

The advantage of this structure is that employees share their knowledge across the different functional divisions, permitting better communication and an understanding of each function’s role. Also, employees can broaden their knowledge and skills by working across operations, leading to professional growth inside the company.

On the other hand, reporting to managers adds confusion and conflict between managers. And if the priorities are not clearly defined, the employees may get confused about their roles.

Flatarchy

Sure, the previous three organizational structure types may work for organizations, but another hybrid structure is better for small businesses or startups.

Blending flat and functional structures results in autarchy, which allows more decision–making among distinct levels of an organization and, overall, flattens out a hierarchy’s appearance. One of the best examples of its futuristic structure is whether it is an innovation program or an internal incubator. Within this system, the company operates in an existing design. Still, employees at any stage are encouraged to suggest ideas and run with them, potentially building new flat teams.

LinkedIn, Adobe, Google, and other companies have internal incubators where employees should be innovative and creative to promote the company’s overall growth.

This system’s benefit is that it permits more innovation company-wide and eliminates red tape that could stall revolution in the functional structure. As for the negatives, the design may be inconvenient and confusing if everyone involved does not agree on how to systematize the system.

Overall

See what structure works best for your organization. Just remember that every organization is different, and no system is perfect. You learn from failing and failing again. The proper organizational structure can bring you close to your motives; the key is never to stop trying!

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.

Sales: Persuade, Connect, Succeed

Posted on January 17, 2024January 8, 2024 by Stephen Huck

It would help if you made your customer feel like there is no one out there better than you who can fix their problems. Create a need, pitch surrounding that need, and make a sale. Sales are finalized with 50% luck and 50% dedication. You cannot convince someone to listen to you without your demanding work and skills. Make sure your tone is engaging and professional; your energy makes them want to hear you at least out. You have that set; there is no stopping you!

You need to give your best to build a long-lasting relationship with your customer. A customer wants to buy something and make a change in their life. Are they willing to make that change? It depends on you. Use all your selling skills to create a necessity, but do not forget that they are people like you.

It is essential to know how to negotiate successfully or learn techniques that allow us to increase our sales, so we need to learn to recognize when a theoretical deal is slipping from our hands and when we will have to put all the meat in the spit.

What Makes a Client Unhappy?

No matter how innovative you get, how tight the deadlines are, and how impressive the results become, there will come a time when you must face unhappy clients. The reasons could vary, but the ways to oversee it do not.

Usually, the factors that make the clients unhappy are:

A lapse in communication
Clashing personalities
Fail to manage client expectations

You get to meet clients who are not entirely sure about what they want, which sometimes makes it harder for agents to figure things out. On the other hand, in social media, clients are steady and vocal with their choices and opinions. For you, it is essential to manage every situation with skill and dignity.

Improve Your Customer Relationship

Here are ways to improve and enhance your sales once you join work after the pandemic.

Use social media platforms and toll-free numbers so that customers can reach out to you when they want to.
Offer more services and products and make delivery accessible or at least affordable.
Keep the customers happy by hearing them out. They buy more when their questions get answered.
Keep updating your website to improve relationships with existing and new customers.

Improve Your Social Media Strategies

Social media is salvation for so many people these days. You do not have to run advertisements on them if you only post meaningful content, which is also appealing. Here are tips you can follow:

Make sure the captions are engaging and well-thought
Post-quality content. Do not over-promote anything; keep your posts relevant.
Ensure your customers know what measures you are taking so that all the products are safe.

Improve Your Emails

People ignore this, but email marketing is one of the most effective sales methods. However, that does not mean you should expect sales to come in through email. It is just another way to improve your relationship with your clients.

Just be kind to your employees, other businesses, and, of course, your clients. Since innovation is the key, remember you improve your sales only by enhancing your clients’ relationships.

Offer New Services

Offering quality services with existing products is one way to strengthen the bond between you and your clients. If you have opportunities available, introduce a new line of services geared to solving problems for clients and making your business more profitable. Ask yourself what new and unique benefits you can offer that may bring more leads and sales for the company.

Overall

The key to success is to pay attention to goals, not the obstacles – No one in this world has experienced success without barriers. Einstein was thought to be autistic and unable to learn. Roger Bannister broke records by running a 4-minute mile while no one had done that before. Repeatedly, we know that greatness requires overcoming complications by keeping an eye on the goal.

Convincing someone is a challenging task, especially in terms of selling. You can only get better at it with practice.

Modern Tech and the Justice System

Posted on January 17, 2024August 30, 2025 by Jennifer Brazer

Currently, cybersecurity is a top priority for the justice system. However, in the last two decades, cyber-attacks have become more and more challenging to predict and defend against. Because of this vulnerability, technology must be developed to protect the advancements in the justice system against cyberattacks.

Modern Tech and the Justice System

Data will need to be transferred internally and externally, depending on the business. Therefore, multiple avenues are open to attack regarding cyber-related technology. The justice system has been reluctant to use digital technology to store and transfer data because these vulnerabilities put them behind in today’s digital world.

They also fail to analyze data efficiently and identify critical points and necessary changes in the justice system as it changes and advances. The lack of information flowing can have disastrous results when the justice system relies exclusively on manual procedures. Systems within the justice department, internally and externally, need to communicate to share data efficiently.

While this can be open to cyber-security issues, handling it can slow down or halt the transferring and sharing of crucial data. For example, transferring a criminal from a local jail to the prison can be challenging because the involved staff will not have the individual’s medical, mental health, and legal history.

What if the criminal is a heart patient and requires treatment occasionally? There is no way for the prisoner administration to know about it, which could eventually put the criminal’s life in serious jeopardy. In hindsight, all departments must participate in redefining the justice system digitally for better performance.

Modern Approach

Departments like courts, correction facilities, parole, and health sectors can work collaboratively for the future of public safety. If they want to accomplish an automated public safety infrastructure, they need a modern approach.

The key to a modernized approach is eliminating isolation and implementing an integrated system. In public safety measures, related agencies must develop solutions that allow each system to transfer information.

It would have been a hassle a decade before, given that the organizations had to reconfigure the entire system. This step required ample time and resources because many organizations fall under the category of public safety enterprises.

However, there are different ways to tackle this in the contemporary era. One way is utilizing a software-based integration procedure that connects with other systems. This method provides an easier way to transfer the correct information to suitable systems at a time. Here are three main features necessary for data sharing in the justice system.

Complete Controller. America’s Bookkeeping Experts

Real-time processes

The data integration features require constant surveillance and monitoring so that the investigation agencies can understand the entire prospect of the data. With an integrated system, it becomes easier for agencies to see through data layers and make outcome-oriented results.

Accessibility

We live in an era of automation, and not making the best use of it can cause severe problems in due time. It’s even more advantageous given that federal agencies can also reduce their manual efforts and probable errors. Moreover, it is easier to track criminals and cases across different organizations due to automated information exchanges between them.

Forecasting analysis

Statistical models, where investigators evaluate the behavior patterns of different organizations, have been part of the justice system for many decades. Thus, with an integrated system, the agencies can use statistical models to detect variances and resolve different issues before they occur.

Conclusion

These features are the cornerstone of any automated justice system, where they can focus on any individual while collecting data across different systems. It also allows investigators to focus on studying the data rather than spending time collecting it. In hindsight, the original purpose of using automated systems is to reduce time in collecting information while performing efficient decision-making steps for better results.

Jennifer Brazer Founder/CEO

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.

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Why You Should Get a Business Loan

Posted on January 17, 2024November 4, 2025 by Jennifer Brazer

Smart Reasons to Secure a Business Loan Today

The top reasons to get a business loan include funding expansion, managing cash flow, upgrading equipment, building credit, and capturing time-sensitive opportunities—each offering strategic advantages that help businesses grow stronger while maintaining full ownership and control. A business loan delivers targeted capital exactly when you need it, allowing you to invest in growth initiatives, smooth seasonal revenue gaps, or respond quickly to market changes without diluting equity or draining personal savings.

Over my 20 years as CEO of Complete Controller, I’ve watched hundreds of businesses transform through strategic financing—from the local bakery that tripled revenue after equipment upgrades to the tech startup that captured market share by moving fast on a competitor’s exit. According to the Federal Reserve’s 2025 Small Business Credit Survey, 59% of businesses sought financing last year, yet only 41% received the full amount they requested. This gap between need and access makes understanding when and how to secure business financing absolutely critical. In this article, I’ll share the six smartest reasons to pursue a business loan, backed by real data and success stories that demonstrate exactly how the right financing at the right time can accelerate your business beyond what bootstrapping alone allows.

Why secure a business loan today, and what are the smartest reasons to get a business loan?

The main reasons to get a business loan: expansion, equipment upgrades, cash flow management, credit building, opportunity capture, and operational flexibility
Expansion funding enables opening new locations, hiring staff, or launching products without depleting working capital
Cash flow loans bridge payment gaps and seasonal slowdowns, preventing the 82% failure rate tied to cash problems
Equipment financing delivers immediate productivity gains through technology, machinery, and inventory investments
Credit building through responsible loan repayment unlocks better rates and larger amounts for future growth

Fueling Business Growth and Expansion: The Top Reason to Get a Business Loan

Business expansion stands as the primary driver for loan applications—smart growth requires capital for new locations, additional staff, enhanced marketing, or product development that operating cash alone rarely covers. The math is straightforward: expansion investments typically demand large upfront costs while returns flow in over months or years, creating a perfect scenario for loan financing.

Consider how expansion loans work in practice. A regional restaurant chain might need $150,000 to open a second location, covering buildout costs, equipment, initial inventory, and pre-opening marketing. While the new location projects $500,000 in annual revenue, those funds won’t materialize for months. A business loan bridges this gap, turning future revenue potential into present-day growth capacity. Banks particularly favor expansion loans backed by solid business history and clear revenue projections, with small banks approving 52% of applications compared to just 31% for online lenders, according to Federal Reserve data.

Scaling operations responsibly

Strategic scaling through loans protects your core business operations while funding growth. By keeping expansion costs separate from operational expenses, you maintain healthy cash reserves for payroll, rent, and daily needs. This approach prevents the common trap where businesses stretch too thin chasing growth and compromise their existing success.

Entering new markets or channels

Market entry often requires significant investment before seeing returns—whether launching an e-commerce platform, expanding to new geographic regions, or developing innovative products. Business loans provide the runway needed to establish market presence, build customer awareness, and refine operations before revenue materializes. The key lies in matching loan terms to realistic revenue timelines, ensuring repayment aligns with projected cash flows from new ventures.

Managing Cash Flow and Navigating Seasonal Highs & Lows

Cash flow problems cause 82% of small business failures according to industry research, making working capital loans essential survival tools rather than luxury options. The gap between when you pay expenses and when customers pay you creates ongoing challenges that smart financing solves.

Seasonal businesses face this acutely—a landscaping company might generate 70% of annual revenue between April and October, yet face year-round expenses like equipment loans, insurance, and core staff salaries. A well-structured line of credit allows drawing funds during slow months and repaying during peak season, maintaining stability throughout the year. Even non-seasonal businesses benefit from cash flow financing when major clients pay on 60-90 day terms while suppliers demand payment within 30 days.

Covering payroll, inventory, or overhead in down cycles

Working capital loans specifically address operational funding gaps without requiring collateral beyond general business assets. These loans typically feature faster approval than expansion financing since lenders focus on cash flow history rather than growth projections. Smart businesses secure credit lines before needing them, ensuring access when unexpected slowdowns hit.

Financial cushion for unexpected expenses

Emergency preparedness separates thriving businesses from those barely surviving. When equipment fails, key employees need replacing, or surprise regulatory changes demand compliance investments, having established credit access means addressing challenges immediately rather than watching problems compound while scrambling for funds.

Upgrading Equipment, Inventory, and Technology—Investing in Long-Term Value

Equipment and technology investments deliver measurable returns through increased efficiency, expanded capacity, and competitive advantages—yet their upfront costs often exceed available cash. Equipment financing solves this equation by spreading costs over the asset’s useful life while you benefit immediately from enhanced capabilities.

Take Miriam Kattumuri’s story at Miriam’s Earthen Cookware. She hand-crafted clay pots in her backyard until securing an SBA microloan in 2015 for workshop expansion and manufacturing equipment. A second loan in 2021 enabled hiring and further growth. Today, she teaches global cooking workshops via Zoom while expanding product lines—transformation made possible by equipment financing that preserved her ownership while accelerating growth.

Achieving efficiency and productivity gains

Modern equipment often pays for itself through labor savings, reduced waste, higher output quality, or new capability offerings. A printing company upgrading to digital presses might cut production time by 60% while offering customization options impossible with older technology. Equipment loans align payment schedules with productivity gains, making upgrades financially neutral or positive from day one.

Taking advantage of supplier discounts and buying power

Inventory financing unlocks bulk purchasing discounts that dramatically improve margins. Retailers commonly save 15-30% through volume purchases, yet these opportunities require capital many businesses lack. A strategic inventory loan capturing these savings often costs less in interest than the discounts gained, creating immediate profit improvements while building supplier relationships.

Building and Strengthening Business Credit for Future Financing

Business credit development through responsible borrowing creates expanding financial opportunities—each successfully repaid loan improves terms and amounts available for future needs. This compounding effect transforms initial small loans into access to major growth capital over time.

The numbers tell the story: businesses with established credit histories access financing at rates 2-4% lower than those without, translating to thousands in savings on larger loans. More importantly, strong credit means approval certainty when opportunities arise. While competitors spend weeks seeking financing, businesses with proven credit histories secure funds within days.

Laying the groundwork for larger projects

Starting with smaller loans and building upward creates a track record lenders trust. A business might begin with a $25,000 equipment loan, graduate to a $100,000 expansion loan, then qualify for a $500,000 real estate purchase—progression impossible without established credit history. Each successful repayment adds credibility and negotiating power.

Improving negotiating power with lenders

Strong credit transforms you from loan applicant to valued client. Banks compete for businesses with proven repayment histories, offering lower rates, flexible terms, and relationship perks like free business checking or merchant services discounts. This competition saves money while providing backup options—critical when primary lenders tighten standards during economic uncertainty.

Preserving Ownership, Control, and Profitability

Business loans offer growth capital without the ownership dilution that equity financing requires—you keep 100% of future profits and full decision-making control. This advantage becomes massive when businesses succeed, as founders retain all upside rather than sharing gains with investors.

The mathematics favor debt over equity for profitable businesses. Consider a company needing $200,000 for expansion. An equity investor might demand 20% ownership. If the business grows to $5 million in value, that investor’s stake equals $1 million—far exceeding loan costs. Meanwhile, loan interest remains tax-deductible as noted by the IRS business expense guidelines, reducing actual costs below stated rates.

Avoiding equity dilution

Every percentage point of equity given away represents permanent profit sharing and potential control loss. Loans eliminate this trade-off, letting founders benefit fully from their vision and effort. This particularly matters for businesses with strong growth potential where today’s small equity percentage becomes tomorrow’s fortune.

Keeping personal and business finances separate

Professional boundaries between personal and business finances protect both spheres while establishing credibility with lenders, suppliers, and partners. Business loans build this separation, creating clean financial records that simplify taxes, improve credit access, and protect personal assets from business risks. As detailed in Complete Controller’s guide to credit management, this separation forms the foundation of sustainable business growth.

Capturing Strategic Opportunities—Moving Fast When It Matters

Market opportunities rarely wait for perfect timing—the ability to act quickly often determines who wins. Pre-approved business credit lines or established lender relationships mean seizing opportunities while competitors debate funding options.

Real opportunity capture looks like the local restaurant that expanded outdoor seating immediately after COVID restrictions lifted. Using a pre-existing credit line, they invested $40,000 in patio renovation and heating equipment while competitors waited to see if outdoor dining would last. By moving fast, they captured the outdoor dining boom, increasing revenue 40% within six months and establishing market position before others reacted.

Timing the market

Success often comes from being early rather than perfect. Whether acquiring competitor assets during their struggles, buying inventory at steep discounts, or launching products ahead of seasonal demand, speed matters. Established financing removes the largest barrier to quick action—funding delays that turn opportunities into regrets.

Access works both ways: having credit available means evaluating opportunities on merit rather than financial constraints. This clarity improves decision-making since you’re asking “should we?” rather than “can we?”—a distinction that separates strategic thinking from reactive scrambling.

How to Secure the Right Business Loan—and Make It Work for You

Successful loan acquisition starts with clear purpose and thorough preparation. Define exactly what the funds will accomplish, how they’ll generate returns, and what repayment looks like under various scenarios. This clarity helps select appropriate loan types while demonstrating professionalism to lenders.

According to Federal Reserve data, lender choice dramatically impacts approval odds and satisfaction. Small banks and credit unions approve over 51% of applications with high satisfaction rates, while online lenders approve just 31% with satisfaction dropping to 2% in 2024. The difference comes from relationship banking versus algorithmic decisions—local lenders understand context while online platforms see only numbers.

Assess specific needs: Calculate exact funding requirements with 10-15% cushion for unexpected costs
Compare lender options: Start with community banks and credit unions before trying online lenders
Prepare documentation: Include three years of tax returns, current financial statements, and clear use-of-funds plans
Build banking relationships: Maintain business checking and savings accounts where you plan to borrow
Understand the Complete Controller guide to ideal liquidity positions before taking on debt

Final Thoughts

After two decades helping businesses navigate growth and challenges, I’ve seen how strategic borrowing transforms companies from surviving to thriving. The key lies in viewing loans as tools rather than burdens—investments in future success rather than admission of current weakness.

The data supports this perspective: businesses that strategically use financing grow faster, weather downturns better, and build valuable enterprises while maintaining ownership. With cash flow problems causing 82% of failures and only 41% of loan seekers getting full funding requested, the gap between needing capital and accessing it remains wide. Those who understand loan benefits and prepare properly cross this gap successfully.

Business loans done right multiply opportunities while managing risks. They transform future potential into present capacity, turning what could be into what is. For personalized guidance on leveraging financing for your specific situation, connect with our team at Complete Controller—because smart money management starts with expert guidance.

Frequently Asked Questions About Reasons to Get a Business Loan

What are the most common reasons to get a business loan?

The most common reasons include business expansion, cash flow management during slow periods, equipment purchases, inventory financing, building business credit for future needs, and capturing time-sensitive opportunities. Each serves different strategic purposes, from survival during tough times to aggressive growth during opportunities.

Is it better to get a business loan or seek investors?

Business loans let you maintain 100% ownership and control while paying predetermined interest, whereas investors take permanent equity stakes and often want input on decisions. Loans work better for established businesses with steady revenue, while investor funding suits high-growth startups willing to trade ownership for expertise and capital.

How does a business loan affect cash flow?

Initially, loan payments create additional monthly expenses that reduce available cash. However, when used strategically for revenue-generating investments or to smooth seasonal variations, loans actually improve cash flow by providing capital when needed most and spreading large expenses over time.

How do I qualify for a business loan?

Qualification typically requires at least two years in business, annual revenue above $50,000, personal credit scores over 650, and clear financial records. Lenders also evaluate your debt-service coverage ratio, collateral availability, and business plan quality. Different lenders emphasize different factors—community banks value relationships while online lenders focus on cash flow metrics.

Are business loan interest payments tax-deductible?

Yes, business loan interest payments are generally tax-deductible as ordinary business expenses, effectively reducing the real cost of borrowing. Principal payments are not deductible, but interest deductions can significantly lower your taxable income. Consult the IRS guidelines on deducting business expenses or your tax advisor for specific situations.

Sources

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Armed Forces Bank. “What are the Benefits of Business Term Loans?”
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Chemung Canal Trust Company. “How a Business Loan Can Benefit Your Company.”
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Complete Controller. “Ensure Ideal Liquidity Position.” https://www.completecontroller.com/ensure-ideal-liquidity-position/
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LendingTree. “The Pros and Cons of SBA Loans.”
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SBG Funding. “10 Smart Reasons to Get a Business Loan.”
St. Louis Federal Reserve. “Small Business Lending and Banking Deserts, 2019-23.” https://www.stlouisfed.org/on-the-economy/2025/sep/small-business-lending-trends-banking-deserts
Sterling State Bank. “How Your Company Can Benefit From a Local Business Loan.”
U.S. Small Business Administration. “Funding Programs: Loans.” https://www.sba.gov/funding-programs/loans
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U.S. Small Business Administration. “SBA Microlending Success Story: Miriam’s Earthen Cookware Bootstrapped and Built in Her Own Backyard.” https://www.sba.gov/success-story/sba-microlending-success-story-miriams-earthen-cookware-bootstrapped-and-built-her

Jennifer Brazer Founder/CEO

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Financial Wisdom for All

Posted on January 17, 2024January 8, 2024 by Stephen Huck

When handling your finances can seem daunting. Consider hiring a financial planner to help you make the most of your money. However, suppose you don’t want to hire an outsider to handle your finances or cannot afford to hire a professional financial planner. In that case, you need to know some financial strategies you can use to control your finances.

Budgeting is an obvious strategy. However, there are more areas in which your financial plans can have a significant economic impact.

Here are five financial strategies every person can easily use.

Vehicle Purchase Strategy

While a vehicle can say a lot about us, the truth is that if you are looking for financial freedom, your vehicle purchase can make a significant difference in obtaining it or not if you are anyone other than a person who can own a car to match any outfit.

Truthfully, your vehicle purchase should be well within your means, as doing anything outside of that can be disastrous for your financial health and credit. Never buy payments. You need to know the final and total price they are charging you.

A typical sales strategy of recent years is to find out what payment amount you can afford and sell you a car with those payments over a period that, when added up, will, in some cases, be up to three times the car’s value. Also, know the interest rate you are being charged.

Pay as large of a down payment as you can handle. If you are in a dire situation where you need to purchase the car immediately, it is understandable that you don’t have a sizeable down payment. However, if you have time, take that time to save to pay as much down as possible.

Do your research on the vehicle you intend to purchase and know the value. Figure the actual payments, know your credit, run your numbers, and be armed with them before you ever walk onto the lot.

Insurance Strategy

Insurance is an unfortunate necessity in every person’s life, and in some cases, having insurance is the law. However, just because it is a must does not mean accepting what you get. It would be best if you exhausted every money-saving strategy at your disposal.

Shop, shop, and then shop some more. With healthcare, vehicles, homeowners, and other insurance that you may need, there is a lot of competition. Therefore, if you are a savvy buyer, you can save hundreds of dollars a year in insurance. And don’t use those sites that say they will impartially compare. You do the research. You make the comparisons. This strategy will save you a lot of money.

Also, take healthy preventative precautions or driver’s education classes to lower your health and car insurance rates. Insurance doesn’t have to break your bank to be excellent and affordable.

10/10/80 Strategy

There are a few percentage financial strategies, but the 10/10/80 is among the most popular and easy to apply. This strategy says to give 10%, save 10%, and spend 80% of your income. This strategy is excellent and straightforward, but at some point, you will need to readjust those percentages to impact your financial future significantly.

50/30/20 Strategy

50/30/20 is another money allocation strategy with a formula similar to 10/10/80. The significant difference is that this strategy has savings built-in, but only after debt is paid. This strategy wants you to be at zero regarding debt before considering saving. It breaks down as follows: 50% goes to bills and necessities.

There is no exception to this allocation. 30% towards paying down debt; once your debt is zero, this percentage would go to savings. 20% goes to wants. This would be anything you pay for outside of bills and necessities or debt relief and savings. This is the lowest percentage on purpose. It would be best to never spend on wants and missing bills or leave debt hanging over your head.

Down Payment Strategy

The down payment strategy was already touched on when discussing vehicle purchases. It doesn’t take a mathematician to understand that your payments and interest rates will be lower if you put more money down on large purchases.

It is suggested that you put down at least a 20% down payment, which is a great suggestion. When implementing the down payment strategy, the most important thing is that you put something down. This strategy can pay off big in the end.

AI Boosting Business

Posted on January 17, 2024January 17, 2024 by Stephen Huck

Today, innovation and invention have become familiar to the advancement of businesses. Almost everything utilizes high-tech automation, from rockets to toilets. The technology is saving both the workforce and money.

Businesses are increasingly adopting digital technologies to improve customer engagement and streamline process flows. According to a study by IDG (International Data Group), 89% of businesses are either planning to or have already decided to go for digital-first models.

In this regard, Artificial Intelligence technology is being rapidly adopted by all types of businesses, from small-scale to large enterprises. One such technology is chatbots. Chatbots have proven to be very useful in automating customer engagement.

Technology has given us diversified benefits, which has been the driving force for businesses today. But what key factors amplify the results of a technological makeover? Let’s find out.

Ensuring Efficiency with Innovation

Technology has allowed humans to expand their horizons in different departments by using innovation as the primary catalyst. Now, all is left to use our heads, generate ideas, and let technology do the rest. Rest assured, the future looks quite bright as it is.

Technology has also kept things aligned, thus minimizing the use of error-prone methods. Human beings are good thinkers and intellectuals. However, we don’t know what the future holds as things stand. The best we can do is improve our prowess and use innovation to maximize our business outcomes for long-term benefits.

Cost Reduction

Saving time is a very unnoticeable benefit, but cost reduction is a highly measurable benefit technology provides. Technology has replaced multiple manual machines and the workforce required for semi-complex tasks, allowing various industries to flourish and expand.

Businesses use technology in almost everything, including accounts, production, supplies, and innovations. Technology is playing an efficient role in nearly every single progressive step.

The workforce requires high maintenance and often becomes a continuous liability to a company. Still, technological changes are a one-time investment, easy to maintain, and a percent asset to the company.

Consistency

With human customer service representatives, 100% consistency cannot be guaranteed. Every customer representative is different, just as every human is different. A customer may not find a particular representative helpful. This lack of assistance will lead to them calling the business again. A chatbot will consistently interact with your customers, leading to a higher chance of customer satisfaction in one interaction.

Recorded Conversation

In telephonic interactions, a customer won’t have a record of the conversation with the customer representative of your company. This can be a customer problem, especially if the conversation is long.

For example, if the conversation is about using a complex product, the customer won’t refer back to the discussion in the future. With chatbots, the customer can easily retain a copy of the conversation for future reference.

Better Understanding of Consumer Needs

Along with operations, technology has made marketing effective, efficient, and straightforward. Data and information are the most precious thing today. It’s all because of technology. The AI has better-understood users’ requirements and displays what’s necessary.

When things are sorted, the consumer automatically gets AI-generated ads and information, and the possibilities of leads and queries increase, making it easy to sell the service or product.

Artificial Intelligence is also becoming a helping hand in conversations now. Consumers don’t need to wait for human representatives for simple information. AI generates automated information to answer queries and saves time and human effort. Though imperfect, it’s in the development phases and getting better daily.

Conclusion

Artificial Intelligence and technology go hand in hand and have made things more comfortable, efficient, and precise. Most internet users and business owners have confidence in Artificial Intelligence and its consumer-friendly nature. It allows the process to be error-free without making any significant changes. It’s still being developed but is already helpful in multiple operations.

HR Limits: Unseen Growth

Posted on January 16, 2024January 8, 2024 by Stephen Huck

The human resource department is the basis of stability for every business, no matter what the industry is. From an IT firm to a commerce building company, to a multinational company to any hotel, the people working in these places landed there because the human resources liked them!

As the name suggests, the human resource department is quite resourceful. Landing a job in HR can make you feel superior since you can recruit, interview, and quickly hire or fire employees. In a 5-star hotel, you are bound to feel some dominance if you have the power to do something like that.

Working in human resources is not for everyone. It takes unique individuals with specific skills and a desire to improve the workforce within the company. This improvement can be through internal improvements or from who is hired as a new employee. The question is. Do you want to work in human resources? Here’s everything you need to know about the human resource department to make that decision.

What You Do in Human Resources

This department is essentially responsible for managing how employees work, and they quite potentially manage an employee’s stay in the firm or company. You work on recruiting, hiring, considering someone credible enough for the job, and so much so as firing someone. You can also be in charge of employee benefits. But then again, isn’t that all?

As a member of the human resource department, you need skills. That would include communication skills, administrative experience, sifting through paperwork, and printing documents. Suppose you are up to your game and land yourself as the chief human resource officer.

The correct CHRO is essential to the firm’s stability and standing since that position is responsible for executing strategies, managing the organization’s direction, and planning the next big step. The firm is growing, and the people you hired are growing. However, are you growing?

HR Growth

When you are in the human resource department, you are the only one not growing. You can take a company worth $100 to what is now worth millions; however, you will never unleash your full potential. In the human resource department, you can grow until a certain point.

This ceiling of growth is the case with having one job. After a certain point, you either get a raise or leave that job. In this case, you shall be reviewing your growth, but you can only do it until a certain point, sitting on the four walls of your office as you sift through a pile of papers, looking for what you know you won’t find there.

Once we get comfortable in our jobs, we stop growing what the human resource department does. You can only do so many interviews, you can only do so much planning, you can make a hotel go from 1 star to 5 stars, but by the time you do that, you turn 50 and spend more than half your life growing something that someone else owns.

You do not have a name in the organization, and it’s sad not to see your name on something you helped grow, from what was inside the cocoon to a butterfly. You are limited to a certain level of success, which is a complete stop.

Is HR Right for You?

If you are a nice person, human resources is probably a bad idea. Firing people when necessary can be challenging, especially if you know how important the job is for them. It can take a toll on your mental health as well, whereby not only are you limited to the four walls of your office but, in some way, are accustomed to the negativity that surrounds you.

That negativity comes with the job, but a problem arises when there’s no way out or substantial reward. Of course, that comes in the package, but what if there is something to excel at? Somewhere where you can be recruited and lead the actual game.

You see people flourishing from rank to rank. You give them their offer letters and watch them own the place where they started. But that is all that you do; you watch.

You will never realize your true potential because you have dedicated your life to recognizing other people’s potential. Even if you do not feel like you have the skills to deal with people, you will be trained well enough to lead them when the time comes. However, it is just that. It is learning one skill that will help you succeed at any firm.

The department can have restricted roles that can be troublesome; it can sometimes raise the ranks. If you’re starting your career, climbing the ropes of the human resource department can be particularly tough because it can take time to grow in that place.

Conclusion

It is not just the fact that the human resource department is a dry scene to be a part of; it is also the fact that it limits you significantly. It limits you to the point where you do not realize this anymore. One becomes indifferent to understanding it and shoves the idea of what they could be outside these four walls.

Sometimes, when we start feeling comfortable where we are, we naturally ignore who we are. The human resource department extracts everything from who comes into that office but never from those who stay there.

Marketing Strategy: 5 Key Areas

Posted on January 16, 2024January 16, 2024 by Stephen Huck

Running a business is challenging. When developing a business plan, you would have addressed every aspect of the company, including marketing strategies. If you have not developed a business plan or marketing strategy, you must address it immediately.

Marketing is imperative when it comes to making any business a success. Without marketing, customers won’t know your business exists or what it offers. Therefore, you must develop robust marketing strategies and implement them immediately.

Here are five areas to focus on when developing your marketing strategies.

Know Your Customers

Knowing your customer should be a given when it comes to business. Surprisingly, many business owners don’t take the time to get to know their target customers or demographic, which hurts them tremendously. First, no matter how big your business gets, you must realize that your customers are responsible for your success and growth.

While it is understood that some businesses have a vast or unlimited target consumer, most companies have a specific target clientele. Having this knowledge will direct your marketing strategies to have a laser focus on the intended target. This strategy will gain you customers but save you valuable marketing dollars if you direct your marketing strategies this way.

Use Your Social Media

Social media marketing is perhaps one of the most popular marketing strategies because it’s free (or low-cost) and easy to execute. Most people have an online presence on one or more of the three major platforms: Facebook, Instagram, and Twitter. All three can be effectively used to promote your business and the specific products and services you offer.

Facebook has some pretty inexpensive adoptions, and you can create free business pages that will allow you to reach potential customers and interact with existing customers. Twitter and Instagram will enable you to interact with customers and potential customers in real-time and inform them of your products and services. You can also answer questions or concerns on all of these platforms and receive reviews on your business page on Facebook.

While you will need to supplement social media marketing with other marketing types, if you have a solid online presence through social media, you can focus most of your marketing attention on this area and have great success.

Reward Your Loyal Customers

Business owners and marketing strategists sometimes focus on gaining new business and forget about loyal customers. Look at any cable or internet provider and see how many offers they have for new customers and how many they offer loyal customers; those large corporations don’t have to care for you after they get you because they already have your dollars and regular payments. Small businesses should never adopt this mentality, even if they become corporations.

If you care for your loyal customers, you can trust they will tell everyone they know about your business. So place in rewards, make them feel loved and cared for at every turn, and keep them happy. Your most loyal customers can be critical to ideas and changes that will improve your business, product, or service.

Build Your Network

Networking over the years has almost taken on a negative reputation. When people think of networking, they dream up scenarios of people wandering around, drinking in hand, handing out business cards, and having pretentious and shallow conversations.

Today’s networking is done more in the digital world and, when brought into real life, usually culminates in meeting for coffee one-on-one or social events that have more of a “getting to know you better” vibe than hitting as many people as possible in the palm with your business card.

With this in mind, remember the word personal when building your personal network. Your network needs to be filled with faithful “go-to” people you can call upon when you need them, and they will do the same.

Some of the best businesswomen and men have strong relationships, even with their competitors. Sometimes, your business or theirs cannot fulfill a client’s need, and if you send them their way, that will be bankable networking credit that can prove valuable and profitable.

Change Your Strategy

Change is good, especially when it comes to marketing. If it isn’t broken, don’t fix it. It is an adage that carries over in our business world today. However, if your marketing strategies are now letting you down or not as effective, change them up. Nothing says you have to do the same marketing you did at the beginning week over week or year over year.

Your business should be a living and breathing thing, and so should your marketing strategy. Why do you think big and even medium businesses have entire marketing departments? Would they need them if they were doing the same things repeatedly?

Conclusion

Throughout the beginning and life of your business, you should focus on marketing strategies. They are essential to the success of your business and the longevity and growth of it as well. Marketing should also get an allotment of the business budget because of its importance. With the right marketing strategies, your business will be a great success.

Healthcare Tech Transformation

Posted on January 16, 2024March 1, 2025 by Stephen Huck

Technology has touched every aspect of life and is utilized in every industry. A survey showed that significant US businesses now assign 20% of their IT budget to mobile implementations. This advancement in the use of technology has also found its way into the healthcare industry.

The government has also adopted technological innovation to use in a critical strategy. The strategy achieves two core objectives. One is enabling citizens to use mobile applications anywhere and encouraging workers to work remotely due to mobile development. Such applications are the main catalysts behind the innovative practices that the government is working on now.

According to an army doctor working tirelessly from one base hospital to another, the government workforce is now quite mobile. The doctors can now log onto an application and book an operating room. They can also acquire medical reports of the concerned patients to perform sound decision-making steps swiftly.

The Hurdles of Medical-Mobile Transformation

Considering the increase in technological influence among the people of this era, the most severe concern is security measures. Mobile application development also opened up data security and confidentiality loopholes. The patients and the federal agencies are also worried about security concerns given the sensitive private information in the records.

The concern is not purely hypothetical, given that around 253 healthcare breaches occurred last year. The breach affected around 500 individuals; the cumulative loss was around 112 million records.

Given the danger surrounding health-related records, it’s also understandable that the government is hesitant to adopt mobile health applications compared to the others. Even if other commercial sectors are exposed to data breaches, they can retaliate quickly. Not to mention that federal agencies cannot fail due to the importance of their data.

It’s best advised that the government strengthen its current systems instead of installing new ones to tackle security concerns. Some IT organizations can work consistently to evolve current algorithms to counteract the present issues. For instance, “Red Hat’s Mobile Device Management” solution permits doctors to manage their devices with different security solutions while performing their duties.

Implementing a Successful Mobile-Based Health App

The transition to mobile-centric transformation is no walk in the park. Agencies need to perform sound steps to make the transition easy. Thus, Red Hat prepared a three-tiered platform to enable mobile implementation within the public health sectors for smooth transitioning. The platform is also a perfect solution for new federal agencies in developing mobile applications.

However, many questions remain, such as the technology best suited for implementing the feedback expected from the citizens. In such circumstances, organizations such as Red Hat come into play. The three-tiered mobile development platforms by Red Hat consist of the following layers.

Tier one – Frontend device

The presentation layer is the user interface they see on the mobile device. The key is to develop an application that is simple and user-friendly. Moreover, the tier does not limit the developers to a single development tool. Instead, Red Hat believes that each developer can bring the tool they are comfortable using.

Tier two – Middleware

In hindsight, the middleware is the string that connects tier one with the data access layer (tier three). It is the trickiest tier to develop since it needs to feed data as securely as possible. The middleware must be implemented using Node.js, where it optimizes the frontend performance and converts the backend data efficiently.

Tier three – Backend

The backend function will occur in the server-side tier of the mobile-based application. With the help of the Node.js function, the developers can integrate heterogeneous backend systems without the need to build everything from scratch.

The three-tiered formation may seem relentless but it requires efficient leadership and strategizing. Thus, federal agencies must understand the dos and don’ts to transform more results-oriented before creating mobile strategies.

Conclusion

In conclusion, technology’s pervasive influence extends across industries, with significant investments in mobile implementations by major US businesses, even reaching the healthcare sector through government adoption of mobile applications. Despite the transformative impact on healthcare processes, the increasing reliance on mobile solutions raises concerns, particularly regarding data security and confidentiality, as evidenced by a surge in healthcare breaches. The government, recognizing these risks, exercises caution in fully embracing mobile health applications due to the critical nature of federal data. The proposed solution advocates for reinforcing existing systems rather than introducing new ones, emphasizing security enhancement. Red Hat’s three-tiered platform provides:

A strategic roadmap for successful mobile implementation in public health.
Emphasizing user-friendly interfaces.
Secure data access through middleware.
Seamless backend integration.

Navigating the complexities of mobile-centric transformation requires efficient leadership and strategic planning, urging federal agencies to consider each tier carefully for a more results-oriented approach. Despite challenges, the potential benefits of mobile health applications in improving accessibility and efficiency underscore the necessity for continued innovation and adaptation in the ever-evolving technological landscape.

Banking Tips for Business

Posted on January 16, 2024January 8, 2024 by Stephen Huck

Business banking is when a company uses a bank to handle all its financial dealings and creates different accounts, such as savings and checking accounts. These banking institutions also often provide the business with loans and credits.

A bank can also issue a business credit card(s) for financing. Business banking accounts are created explicitly for businesses rather than individuals, as their financial systems differ.

Some banks also offer advisory services to businesses after analyzing their finances. Banks provide services explicitly created for each business according to their needs. These services include deposit accounts and non-interest-bearing products, real estate loans, commercial loans, and credit card services.

Apart from the other services, business banks also offer financing options, cash management solutions, payroll services, and fraud protection. The IRS gives businesses in the United States an EIN, a unique nine-digit code that acts as an identification number, and this code is used to open business accounts in the bank(s).

The IRS requires businesses to create bank accounts, so having an EIN is very important for companies operating in the United States. Choosing the right bank for your business banking is very important as you should choose the one that suits you right with all your requirements and needs.

Below are a few tips for picking the right bank for your business.

Determine What Features You Need

Each bank offers different and various features with business accounts. Large banks offer more features, services, perks, and fewer bank charges than smaller banks.

You will have access to ATMs and bigger branches, too. But if you want a closer connection to the bank and the bank services, you should opt for smaller banks, as they will give you personalized services and will be available most of the time.

What are the Charges?

A few charges a bank asks for from the account holders are monthly maintenance fees, minimum balance fees, wire transfer fees, ATM fees and surcharges, and overdraft fees. You can sometimes ask for negotiations or flexibility if you reach a certain balance. If the charges are affordable enough and you have sufficient funds to reach the minimum account opening requirement, you should choose that bank.

Make Sure Your Funds are Protected

The most important part of opening a bank’s business account is to ensure that the bank is reliable enough to trust them with your money. The bank should offer insurance and should be insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC provides financial institutions insurance for all deposits received, including checking and savings account deposits.

Shortlist and Research Different Banks

It would help if you always considered multiple banks while choosing the right one to compare each bank’s features and facilities, charges, and types of services. It will help you list the pros and cons of choosing each bank to help you choose the most suitable one that meets your needs. Sometimes, you also have to use different banks for different purposes or services, so having multiple banks in mind can be helpful.

You should also research the users’ rankings to ensure that you’re not being lied to and will get what’s being advertised to you. You can also change your business bank if the previous one didn’t meet your needs or specifications.

Establishing a business account at a bank necessitates the presentation of accurate and essential documents. These documents typically include the business’s legal name, its Employer Identification Number (EIN), physical address, and contact information, encompassing the business’s phone number, email address, and website details.

Conclusion

You must choose the right bank(s) for your business accounts and ensure that all your needs are met according to your business. You should follow the tips mentioned above to ensure that you pick the right bank for your business and that all your financial systems are correctly handled. Entrepreneurs need to separate their accounts from their business accounts to prevent confusion and keep them in order.