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  • Essential Financial Steps for Long term

    Essential Financial Steps for Long term

    Thinking about Some financial steps to safeguard our future? Every age and every situation in life has different demands on private financial planning.

    Unfortunately, there is no all-round carefree package because insurance protection and the investment for old age should always be adapted to the respective living conditions. We give tips on what you should pay attention to. Here are Some financial steps to safeguard our future.

    Risk protection

    Securing against financial ruin is an important part of private financial planning. This usually occurs when the income drops due to a termination or an accident. So that the entire existence of a family is not threatened, it is therefore advisable to take out appropriate insurance at an early stage. The following options are available:

    Risk life insurance: This insurance is used to provide financial protection for family members in the event of death. Another variant is the residual debt insurance, which in the same case would pay the remaining installments of a loan taken out.

    Disability insurance: If someone is no longer able to perform 50% of their current job due to illness or an accident, they receive the disability pension. You should choose the amount so high that you can continue to pay your current expenses household costs, loan installments, reserves and savings rates for old-age provision in the event of disability.

    Private liability insurance: In contrast to motor vehicle liability insurance, private liability insurance does not necessarily have to be taken out. Nevertheless, this insurance is recommended because it covers damage caused by the insured to the property of others. The insured sum should be at least 50 million dollars.

    Residential building insurance:  important for all property owners. In the event of storm damage caused by fire, lightning, storm and hail damage, building insurance reimburses the costs of the repair up to the reconstruction after total loss.

    Pay off debts

    Before you can take care of your retirement savings, you should try to pay off any debts. As a rule, you have to pay high interest on your debts: with an installment loan it is between four and eight percent, with an overdraft facility up to 18 percent. If these debts disappear, you automatically save a lot of money.

    Build up reserves

    So that you can provide for old age in the long term, you shouldn’t neglect the present. Because unexpected costs quickly tear a hole in the household budget having to go into debt or even take out a loan is not expedient. So make sure that you build up reserves in good time. For this, we recommend securing money of at least three monthly salaries and investing it at any time. You should never invest this nest egg in a risky or speculative investment – the risk of losing everything is too great.

  • Real Estate Liabilities: A Guide for Investors

    Real Estate Liabilities: A Guide for Investors

    Real estate liability refers to the unavoidable risks associated with owning real estate. As a landlord, even if you don’t live on your rental property, some of these liabilities are not transferable. That means you still have responsibilities to your tenants, and if you fail to meet up, you could face legal suits.

    One of the habits of successful investors is protecting their assets and avoiding liabilities, so their business can continue to thrive.

    This article is a guide for investors looking to understand their liabilities and how they can avoid them.

    Common liability issues a landlord might face

    When it comes to owning real estate, liabilities come in all shapes and sizes. Managing a rental property requires several interactions and the completion of several tasks, so liabilities are vast and multiple. But we can streamline them:

    Harm to one of your tenants

    Home accidents are avoidable but inevitable, and when they occur on your property, you could be at fault. Loose steps, dark hallways, and other minor defaults that you’ve been planning to get around to could be the basis of a lawsuit.

    As a landlord, your foremost responsibility is guarding your tenants’ safety, and if your negligence can be linked to an injury, you can expect to pay compensation. Some claims, such as lead paint liability, are so detrimental they can put you out of business. You’ll find that it’s easier to prioritize your tenants’ health by fixing a faulty heater rather than footing the bill for their medical appointments and attorney fees.

    Loss of property

    Your duty as a landlord extends beyond protecting the person; you’re also responsible for safeguarding their property. If water floods one of your tenant’s apartments because you failed to carry out a routine inspection of your pipes, you have to answer for it. You’ll have to cover the damages to their furniture, appliances, and personal belongings that might have suffered in the mishap.

    Most of the time, repairing or replacing the item should get you off the hook. But if the renter wishes to sue, you could be facing the added expense of attorney fees and their awarded compensation.

    Misinformation

    Another liability issue you might run into as a landlord is misinformation. Making false claims is wrong, but it’s also a punishable offense that could land you in some hot water. Yes, it might be tempting to add a few amenities you don’t have to attract tenants. Once they fall in love with the place, it won’t matter.

    While it might work out that way, it could also end terribly. Intentionally misleading and essentially tricking your tenants could cost you a significant amount of money in reparation fees if they decide to go to court.

    You could also look at the misinformation liability from the business angle, which applies to adverts and public statements. Here, you have to answer your competition. So a logo, tagline, or photo that is too close to theirs or qualifies as defamation falls under public misinformation.

    How to avoid liability

    Liabilities are inconveniences that expose your business to punitive damages. Protecting yourself from these liabilities allows you to channel your resources like time and money to manage your property efficiently and other investments. As the saying goes, “prevention is better than cure.”

    Keep meticulous records
    One of the easiest ways to avoid a liability problem is to keep meticulous records of the myriad of interactions you experience as a landlord. File away copies of your contract with short-term and long-term employees, and save receipts of rent payments and other charges. You should also take photographic and video graphic evidence of your units before tenants move in, during routine inspections, and after moving out.

    Having physical and digital copies of your records in the cloud gives you a layer of protection from false testimony. It’s much easier to vindicate yourself when you have proof.

    Include appropriate disclaimers

    Steer clear of misinformation and other types of liabilities by including appropriate disclaimers where necessary. Under federal law, state-required disclosures dictate what a landlord should pre-inform their tenants about. It consists of using health hazards such as lead-based paint, existing property damage, and other tenancy charges.

    You can extend this to your interactions by including disclaimers about the time and date of the photos in your listings. And also in scenarios where you have to consult an external expert, such as an accountant, to procure information about the property on behalf of your prospective tenant.

    Draft your landlord-tenant agreements with caution
    When drawing up your lease agreement, you need in-depth knowledge of landlord-tenant laws in the country and your jurisdiction. Ideally, it should protect both parties, but did you know you can make specific provisions for yourself to ward off liabilities? You can include disclaimers and add coverage for your attorney fees.

    Conclusion

    Landlords have many liabilities to navigate, but you can successfully run a drama-free rental business with the right info. Of course, you don’t have to go through it alone; if you are a beginner, hire a professional to manage your investment property and minimize the risks of owning real estate.

    Sometimes, despite your best efforts to understand and mitigate the risks, you might still face a lawsuit. Getting liability insurance gives you a layer of protection from the damages you might incur during or after a court settlement.

     

     

  • Frequently Asked Questions on PPC Advertising

    Frequently Asked Questions on PPC Advertising

    PPC or “Pay-per-click” is an example of an online advertising model wherein, the advertiser is paying a publisher every particular instance when an advertisement link is “clicked” by the audience online. The system of pay-per-click is significantly based on keywords. Meaning to say, companies or business owners who rely on pay-per-click advertising must conduct detailed research and analysis of keywords to figure out which keywords are the most applicable to the products or services that they offer.

    FAQs on Pay-Per-Click advertising
    Why Are My Ads Not on the Top?
    This question is one of the most frequently asked regarding pay-per-click advertising. People are always confused why their ads are not on the top of the results page. The main reason why this happens is that the ad rank is too low. You have to increase your keyword bids to ensure that your ads will show on the top of the results page.

    Why Do I See My Competitor’s Page When I Search for My Own Business?
    This is another important question that needs to be tackled. This is happening because the competition is really tough online. Your potential customers are also your competitors’ potential customers. There is no other way that you can prevent them from getting your potential customers. That is why you have to ensure that you build a strong impression to ensure that you will win against your competitors. To be able to do this successfully, you might want to get help from an experienced PPC agency to maximize the full potential of your PPC campaign.

    Why Am I Not Seeing My PPC Ads?
    This question is answerable by two factors. The first one is about the budget. You are not seeing your PPC ads because your daily budget is not high enough to capture 100% of the daily search volume. The second one is about the ad rank. You are not seeing your PPC ads because the ad rank of your keyword is very low and that is why your ads will not show for 100% of daily search volume.

    Do People Really Click on Online PPC Ads?
    The answer to this question is “yes.” Many people are clicking online PPC advertisements and they are more likely to be people who are interested in buying a product or a service than a regular organic visitor. This means that PPC ads will help you reach people who are looking to buy which can create a significant impact on your sales.

    How Often Should I Check My PPC Campaigns?
    Some other companies are not checking their PPC campaigns for a month. However, you might be tempted to look at your ads more often. Some experts are recommending that you do it weekly for you to take necessary actions and a proactive approach for your campaigns.

    Key Takeaway
    Pay-per-click is just one of the most effective techniques that you can utilize for online advertising. It is important that you conduct critical research in digital marketing regarding how PPC works. Analyzing these frequently asked questions on PPC will help you build a stronger knowledge of your business. Understanding the deeper meaning and significance of PPC will help you employ it smoothly as one of your marketing strategies. You can also ensure that you maximize the full potential of PPC as an online advertisement and ensure that you are utilizing it effectively.

  • From The Facebook Page to the Funnel: How to Promote Your Company

    From The Facebook Page to the Funnel: How to Promote Your Company

    Wondering How to promote a business? After talking in a recent article about how to find new customers, let’s go back to the topic and see together how to promote your company using some of the best marketing strategies of the moment.

    The theme is vast and constantly updated: in order not to go too far, we have discarded the less effective solutions and we have concentrated on foolproof systems to be exploited to your advantage to advertise small or large companies, but also ecommerce, websites, personal projects and everything that falls within the most varied business spheres, from the world of professions to tourism, from construction to the sale of household products. Wondering How to promote a business? Here are the options for you.

    Thanks to this guide, everyone will be able to clear their ideas and organize a visibility plan appropriate to their commercial objectives. Let’s start with one of the most successful news: influencer marketing.

    1. Promote Your Company with Influencer Marketing

    By now fully entered in the vocabulary of professionals, the expression “influencer marketing” indicates a type of promotion conducted through the involvement of famous people, or at least followed, on social media and the web in general. We think, for example, of young YouTuber with millions of subscribers on their channel, but also of millennial on Instagram or the many well-known names that populate the blogosphere. Real people with a huge audience, which we can access through collaborations, defined from time to time based on target, budget and timing. From the publication of an article on a blog with hundreds of thousands of visits to the sharing of Instagram Stories by several listed figures who turn to our own user base, influencer marketing allows us to reach an immense audience, with the which otherwise we could not interact. Sometimes minimal expenditure, even a few hundred euros,

    1. Promote Your Company with the Funnel System

    A second option to advertise and promote your company to make the most of the web is funnel. Here, too, it deals with a recent strategy that is bearing excellent results, provided certain precautions are followed. The funnel is nothing more than an automated email sending system to generate online sales. Like? Here is a practical step-by-step example, imagining that the company corresponds to a tourist agency in a seaside resort:

    • The agency in question creates a free e-book in which the 20 top destinations of the Tyrrhenian coast are listed
    • People come to the site, find the e-book, leave their email and access content in this way
    • From here on the funnel begins: every 2 weeks, people receive an email where the destinations are studied in depth, presented and described in detail
    • The open rate is monitored over time, controlling who opens the emails more often through the sending platform
    • As the funnel proceeds, the manager collects the data and creates a top list with the email addresses of the people who have been most interested
    • A highly personalized offer is sent to these people based on the most clicked destinations

    It goes without saying that the conversion rate of a funnel is very high or because the user is gradually motivated to learn more about the product or service, without aggressive actions but with extreme naturalness. It is equally obvious that good content must be created in order to persuade the potential customer and successfully finalize the acquisition process.

    1. Promote Your Company with Content Curation

    Blogs and news sections represent two of the best channels for publishing quality content. In this case, the promotion consists in providing the web public with information, advice and articles relating to business issues. Let’s think, for example, of a car accessories ecommerce. By opening a blog, the online store will have the opportunity to explain how to install the roof bars, or how to replace the engine battery, or how to change the air filter. At more advanced levels it is also possible to evaluate the creation of a real magazine, collecting internal contributions from team members.

    1. Promote Your Company via Facebook and Instagram

    The promotion of a company does not only pass through websites and blogs, but also and above all through the management of social networks such as Facebook and Instagram. With millions of users active at any time of the day, the two social networks are confirmed as an indispensable marketing opportunity for those who want to promote themselves online without spending an eye. Both the one and the other the visibility can be obtained in two ways: either with a natural profile management or with the setting up of a PPC (Pay-Per-Click) campaign.

    Conclusion

    In the first scenario we have to roll up our sleeves and produce valuable content day by day, which arouse the right level of engagement involvement. In the second case, the promotion will take place through sponsored advertisements, for which a cost will be charged for each click. The two systems draw strength from each other and must therefore be used in synergy, carefully planning the budget and monitoring the progress of the campaign thanks to the analysis tools provided.

  • Making a Million Dollars: Your best Options

    Making a Million Dollars: Your best Options

    Want to become a millionaire quickly? How to make first million dollars? Experts collected creative ways to make a lot of money online. We have described the best in this article.

    Create a frustrating, viral app like Flappy Bird and leave it in the app store for at least 20 days.The creator of the addictive game Flappy Bird said in an interview with The Verge that for a while he made $ 50,000 a day from the small banner at the top of the free game. So in 20 days he would have made $ 1 million with the game.

    Sell 714,286 self-published e-books through Kindle.

    A few years ago, 29-year-old Amanda Hocking sold about 100,000 e-books per month, earning $ 1.40 per copy. The book was very successful and she certainly sold more than 714,286, the minimum she needed to become a millionaire.

    Million-dollar home page

    Alex Tew made a home page at the age of 21 and sold advertising space for 1 dollar per pixel. The page had 1 million pixels and its home page was ‘sold out’. He started the website to pay for his studies. In any case, that should no longer be a problem. When you ask how to make first million dollars then these and more are the answers.

    Slightly less fast, but no less effective: 10 years of UberX driver in New York

    The average UberX driver in New York earns $ 90,000 a year, with the driver working at least 40 hours a week. If he works much more, he can earn some extras. Do 10 this time and you have made a million.

    Sell 10,262 business plans on eBay

    A few years ago, starting entrepreneur Samuel Katabaaz attempted to sell 99,999 copies of his own business plan through eBay. He asked $ 111 per business plan. After subtracting eBay’s fees, he was left with $ 97.45 per plan. With the proceeds he wanted to finance his own start-up. Unfortunately we don’t know what happened to his plan, but we wonder if this is the most effective way to become a millionaire.

    “In a free market economy, anyone can make as much money as he or she wants,” said millionaire Steve Siebold, who conducted a study of the 1,200 richest people in the world.

    Focus on making money

    In the current economic climate, you can’t save until you’re a millionaire, said Grant Cardone, who was in debt at age 21 and a millionaire at age 30. Step one is to focus on increasing your income in steps. You then repeat that. He started with $ 3,000 a month, nine years later he made $ 20,000 a month. Keep an eye on your money flows, you will be forced to monitor your income and see opportunities.

    Making more money is of course easier said than done, but most people do have a number of options. Also read these entrepreneur tips from an entrepreneur who makes $ 170,000 a month, or check out 50 Ways to Make More Money, Some High- Earning Side Jobs, or Passive Earning Methods.

    Provide multiple sources of income

    One way to make more money is to increase the number of income sources. Author Thomas C. Corley discovered during his five-year study of self-made millionaires that many of them have multiple sources of income: 65 percent of them had three sources of income, 45 percent had four, 29 percent had five or more. This concerns, for example, real estate that is rented out, shares or co-ownership of a company. Three sources of income seem to be the magical frontier for the millionaires I researched, but the more money flows you can manage the better, he writes.

    Save to invest, not to save

    Never use these accounts for anything, even for emergencies. This forces you to continue to follow step 1 increasing your income. I am still completely broke at least twice a year because I put my surpluses in investments that I cannot reach, writes Cardone.

    Investing is not as complicated or intimidating as we think it is. The main thing is to work with automatic transfers. That way you don’t even see the money you invest and you learn to live without it.

    Don’t be a show-off

    “I didn’t buy my first expensive watch or car until my companies generated solid revenue streams,” Cardone writes. I was still driving a mid-sized car when I passed the one million dollar mark in my bank account. Make sure you are known for your work attitude, not the beautiful things you have bought.

    Change your thinking about money

    Getting rich starts with the way you think about making money. Ultimately, the trick is always the same: your thinking pattern. While most people believe that getting rich is beyond their own control, rich people know that making money comes from within.

    Invest in yourself

    The safest investment I’ve ever made is my own future,” writes Tucker Hughes, a millionaire at the age of 22. Many successful and wealthy people today are avid book readers. Take Warren Buffett, for example, who estimates he reads about 80 percent of his workday.

    Visualize achieving your goals

    Money doesn’t just appear, you have to work for it. Rich people choose to commit themselves to making money. It requires focus, guts, knowledge and a lot of effort, stresses millionaire. According to him, it is possible if you have a clear goal and a clear vision:

    Find people you admire

    Multiple smart and creative people together are many times more powerful than just one. In addition, people will resemble the people they interact with. That is why rich people often associate with other rich people.

    Conclusion

    In most cases, your net worth equals that of your closest friends. When you are exposed to people who are more successful than you, it often means that your thinking is broadened and your income skyrockets. Millionaires simply think differently about money than the middle class, and there is a lot to learn from them.

  • How Optimizing Accounts Receivable Turnover Can Empower Your Business

    How Optimizing Accounts Receivable Turnover Can Empower Your Business

    Improving accounts receivable turnover should always be a priority concern for small business owners. Reason being that the money generated from selling a product or service on credit cannot be viewed as revenue unless it is collected from the clients. Therefore, the more efficient the accounts receivable management and payments from clients, the smoother the cash flow will be, which is also the best long-term sustainability indicator.  

    What is meant my accounts receivable turnover ratio?

    The accounts receivable turnover ratio tells the number of times the accounts receivables have been collected during a specific accounting period. This ratio can be used to decide whether a company is facing challenges collecting sales that were made on credit. The greater is the turnover, the quicker the rate of collecting receivables.  It is expressed in many forms like accounts receivable turnover ratio, accounts receivable turnover in days, and more. 

    What does account receivable turnover means?

    The accounts receivable turnover determines the efficiency of a company with respect to asset usage. Therefore, it is a crucial indicator of a firm’s financial and operational functioning. A high accounts receivable turnover denotes that the business operations are efficient. However, a declining accounts receivable turnover tells that there is a collection problem with the customer.

    Reasons why your accounts receivable turnover ratio is important

    Along with evaluating the possibility and the pace of the payments you are expecting, the turnover ratio also determines the efficiency of the credit policy and practices and managing customer debt.

    A high ratio is a good sign for the company because:

    • Receiving payments for debts increases cash flow.
    • Customers paying off debt swiftly frees up credit lines for any future purchase.
    • Extending credit to the right customer means fewer chances of bad debts.
    • Collection methods are effective.

    However, a low ratio denotes that there is a lot of room for improvements like:

    • Collections policies may need to be updated.
    • Customers are finding it challenging to clear payments, decreasing the chances of future purchases.
    • Uncollected or bad debts are causing harm to the cash flow.
    • You are exercising too much leniency in giving credit.

    By keeping a check on accounts receivable, you can find opportunities to improve our business policies. It may sometimes pain to manage accounts receivable, but it is an essential part of managing business and keeping cash flow on the right track despite the challenges. So here are ten best practices that can help in improving the accounts receivables turnover resulting in profit maximization.

    Ways you can increase your accounts receivable turnover

    1. Enhancing the billing efficiency:

    Companies that practice manual processing spend only 20% of their time communicating with their client regarding payments. However, companies that utilize automation software spend 62% of their time communicating with their customer. Sending invoices to customers as quickly as possible is a smooth way to ensure payments get cleared without any hindrance. Therefore, the team should make efforts to make and send invoices just after the work gets completed. Also, make sure to discuss payment methods and other terms prior with the customers.

    1. Invoicing accurately and timely:

    61% of late payments arise due to administrative issues like wrong invoices or late processing of invoices. Producing an accurate bill that is detailed can help businesses and their clients carry out the payment process in a smooth manner. But, the payments should be processed in a recurring and punctual cycle of billing in order to enhance the turnover ratio. In addition, processing invoices late can establish a harmful precedent that your business is fine with late payments. 

    1. Rewarding payments that are efficient:

    Small incentives to customers can go a long way. Perks like discounts, free shipping or delivery, and prizes for early payments can help in encouraging customers to clear their dues quickly. You can also provide coupons or passes to promote future purchases. With a consistent flow of payments, you can easily qualify your target turnover ratio, enhance cash flow and make your business more successful.

    1. Using Cloud-based Software:

    67% of accountants recommend taking assistance of a cloud accounting software.  Such software helps to smoothen the billing and accounts receivable processes by providing greater financial data and collaborating effectively with the accounting team. Xero and QuickBooks are two examples of such tools that are excellent for businesses of small to medium level because they have more features that are easy to use. These tools also integrate with other time tracking software that helps in logging time entries in the invoices. In addition, the ability to connect with certain analytics tools allows efficient tracking of cash flow. Many firms offer accounts receivable services that make use of up-to-date software to make your accounts receivable process more efficient. You can hand over your complete accounts receivable function to them and concentrate your time on core operating activities.

    1. Building strong customer relationships:

    For an organization, the benefits of having a close relationship with the clients are numerous. By enhancing connections with a customer, the accounts receivable processes can improve exceedingly. In addition, it is more likely for a satisfied customer to pay on time and contribute to the improvement of the turnover ratio. Therefore, in order to build a greater connection with your customer, regularly keep in touch with them via calls, emails, or other mediums.

    1. Easing the payment process:

    Diversifying the number of methods through which your client can pay makes the payment process significantly easy. Simpler payments allow fast processing by reducing the customer’s accounting teams’ work. In addition, in today’s environment, one cannot thrive by only accepting cheques and wire transfers for payments. By adopting methods like electronic funds transfer and credit card payments, the payment process can be sped up considerably. Tools like Plooto and Square make the payment receiving process via cheque, wire transfer, and credit card comparatively easy. In exchange for a small commission fee, one can get many benefits that can significantly increase the turnover ratio.

    1. Diversifying the client base:

    Getting contracts from big corporations is a massive achievement for small companies. However, small companies should be careful before they desert their services to some other client because of this contract. Large corporations extend payments to at max 120 days which can be a long time for small companies to operate without payments. For this reason, it is vital to diversify the client base in order to maintain a healthy cash flow. So keep working hard to bag a few large clients. However, it is also essential to stay on the ground by continuing to provide services to smaller clients to receive payments in a short period. Maintain a healthy balance of client size to keep your accounts receivables in sound condition.

    8. Taking initial deposits or progress bill:

    Set deposit amount, or determine a percentage of the total that the clients must pay prior to the commencement of work or at certain stages of the job. Still, if you’re facing issues with your debtors, implement new policies and ask for complete payment in advance.

    9. Including payment terms:

    Make your accounts receivables smooth by introducing clear payment terms on the invoices themselves. Request your clients to make payment within 30 days, and don’t hesitate to include late payment charges. Late payment fees can be a specific percentage of the original invoice amount. In addition, if you are selling luxurious or costly products or offering exclusive services, it would be better to set a credit limit or provide a payment plan.

    10. Using a payment reminder system:

    Purchase a CRM system that can keep track of unpaid accounts and send reminders automatically. However, if this isn’t possible, assign the duty to one of your staff members to send reminders or make phone calls for payments receivables.

    Conclusion

    Improving your accounts receivable turnover can help your business operate in a more efficient manner, and payments are also received at a faster rate. To accomplish this, the most efficient way can be through accounts receivables automation or accounts receivables services.These methods can effectively help generate and deliver the invoices to the customer quickly, which will allow fast payments from the clients.