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Like a commercial brand, the personal brand must be elaborated with dedication, be protected and transmitted to all people. It is a concept that makes reference to the footprint that you leave in others, in order to differentiate and communicate what makes you visible and allows you to excel in a competitive environment.

It is very common for you to make certain mistakes when creating your personal brand, however, it is nothing that you cannot correct. You must first identify what you are doing wrong, it is important that you remain firm and do not lose the perception, since otherwise you may end up confusing your audience.

 

 

Error # 1 – Identity not well defined

To start defining your personal brand, you must first be clear about your identity, who you are, what you are looking for, what you want, what you know how to do, etc. All these special aspects will help you to differentiate yourself from the rest, and will make the public interested in you. Without a defined identity, you will not get the number of followers you want.

Think carefully about the subject you want to identify with, since when you start to position yourself in that sector, the public will know what your specialty is and the value you bring to the subject.

 

 

Error # 2 – Use different names in networks

Think right from the beginning the name that will represent you, one of the mistakes that are often committed more often is to have several profiles with different names on social networks, this way the general public will not be able to recognize you easily.

What should you do? Precisely have the same name and photo in all your profiles, so it will be easier to gain followers.

 

 

Mistake # 3 – Lack of objectives or goals

Doing things just to do them has never been good, you should always have a defined goal with an action plan that helps you achieve what you have proposed. This applies to any situation, before carrying out an action, for example, making a new publication, ask yourself how that post contributes to your content, what it is you want to achieve, how your followers know you, and if the content represents you, etc.

At this point it is also key to measure the impact of your actions, so that you can determine if the strategy you are using is appropriate and if it is giving good results. It is not simply to have goals, but to analyze the results and make the adjustments that are necessary to keep improving.

 

 

Mistake # 4 – Remove negative opinions or opinions that you do not like

Transparency is fundamental in gaining a reputation and creating your personal brand, there will always be people who give negative or critical comments with intentions to offend. Remember that you should not fall into their game and show yourself how you are, even if there are different opinions. It is not honest or correct to eliminate the messages you do not like, on the contrary, learn to face these situations and manage them in the right way.

 

 

Mistake # 5 – Do not be yourself, lack of originality and inconsistency

Do not copy the other people, the one that can be harmed is you. It’s okay to do some research to analyze the competition, but you should never stop being yourself. It is a common mistake to want to copy others, to the point that you start to change your personality without realizing it. When your personal brand is not consistent, the probability of failing in the attempt is much higher.

To expand your brand it is always good to dedicate the time necessary to develop a good plan and publish content on a regular basis, it may take a little more time, but doing it irregularly will make it difficult for your followers to follow your rhythm.

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About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.
small business budgeting - Complete Controller

A budget is a critical part of any business, whether small or large. In a budget, one plans how much to spend on each business operation and when to save. For new small business owners, creating a budget is a challenge, and it must be prepared correctly.  Here are some common mistakes committed in budgets and tips to avoid them for the speedy growth of a business.

Mistake 1: Lack of a Business Plan

New small business owners often don’t have experience in budgeting and running a business. They make the budget without a strategy and business plan. Small and long-term financial plans are a crucial part of a budget, but new small business owners are eager to jump into their startup without a detailed business plan and goals. Check out America's Best Bookkeepers

How to avoid it?

Take advice from an experienced entrepreneur or a seasoned businessperson. Detailed homework should be done on budgeting. Goals and long and short-term financial plans should be defined. Insert all of these plans into the budget. Once started, this business plan should be reviewed periodically. By a review, you can analyze the validity of strategy and can make necessary adjustments if needed.

Mistake 2: Underpricing

Once a new small business owner enters the market, they find it suitable to sell their product or service at a price less than that of the competitors. This strategy is adopted to attract customers. But in fact, you are losing your money. Less is the profit margin; more is the loss. To compensate for this loss, sometimes, they lower the operating expenses by producing a low-quality product. The customer is not likely to purchase it. Again, you are in loss.

How to avoid it?

To compete in the market,  don’t reduce the sale price because your revenue will be less than the expenses. Neither lower the quality. Just sell the quality product at a suitable price and let the customer know the value of your product. The customer makes a comparison of the products and decides where to buy from. Check out America's Best Bookkeepers

Mistake 3: Overspending

The initial few years of startups are very crucial for business success. The mistake often seen is that new small business owners start overspending as soon as revenues start receiving. The most common budgeting mistake is that they overspend on advertising. A common assumption about advertising is that it will immediately enhance sales. At least a quarter is needed to see the impact of advertising on sales. The overestimation of revenue leads to the budget deficit.

How to avoid it?

In the initial stage of small business, each penny should be saved and spent with great care. Advertising costs should be logically budgeted without considering an immediate return of the revenue.  Overspending affects budgeting a lot. Keep the operating costs low, and capital should be increased.

Mistake 4: Underestimating Uncle Sam

Every business has to pay a heavy amount to the Government in the form of taxes. If you underestimate the amount of taxes you are liable to pay, it will affect the budget. Check out America's Best Bookkeepers

How to avoid it?

To avoid underestimation of taxes, don’t consider the end of the day balance. This balance does not show the exact value of employees’ withholdings and revenues. Make a proper estimation of taxes.

Mistake 5: Lack of Management

A small business owner has a busy schedule. They have to do many tasks alone. They may fail to manage and organize their business cycle at an optimum level. This disorganization can lead to extra expenses and less profit margin.

How to avoid it?

Use software for managing the business properly. This software is used for bookkeeping, accounting, and generating payroll. Your time is saved, which can be used to grow the business.

Conclusion:

Budgeting mistakes can be avoided by following the plans mentioned above. A proper budget is key to business success. 

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers