It is common knowledge that as we grow old, our bodies tend to not work as well. Some folks begin having physical challenges, some have cognitive issues and some have both. But what we don’t know is which, if any, of those challenges we will face. Worse yet, those who fall into cognitive decline often do not have the ability to recognize it.
The lesson here is to prepare for the unknown. If you’ve worked with financial advisors throughout your career, it’s a good idea to narrow your resources to one or two trusted people – possibly including a family member. That way, if and when you need help managing your finances, you’ll have a loved one who can help recognize when it’s time for you to relinquish managing the reins – and an expert to help take over.
Rising interest rates make a different animal of the stock market. Unlike when interest rates are steady or declining, positive earnings (overall for the market, not necessarily individual stocks) just aren’t enough to take the markets perpetually higher.
Many companies are reporting excellent earnings, but the market appears to be somewhat stalled. Taking a look at the recent market performance in Table 1, we can see that 2018 returns have been less than stellar.
How to Manage Remote Employees
According to a report from FlexJobs and Global Workplace Analytics, the number of remote workers has increased since 2005. “The 2017 State of Telecommuting in the U.S. Employee Workforce Report” found that 3.9 million workers now perform at least 50 percent of their working hours by telecommuting from their residence. This increase in remote workers is more than twice the 2005 level of 1.8 million telecommuters. With telecommuting increasing as a way of work, there are some considerations when it comes to those doing it on an exclusive basis.
When it comes to making the most of an organization, providing effective feedback to employees is imperative to ensure worker productivity is high and turnover is lowered. According to The Conference Board, nine out of 10 executive level officers are aware that employee engagement is key to an organization’s function, but only half understand how to work toward higher levels.
While employee engagement is a complex matter, one facet often includes giving employees feedback to tell them where they are doing well and where they need to improve. Since employees do not fit into a single personality type, there needs to be a varied approach when it comes to giving feedback. Read more
When it comes to selling products and services online, gaining users’ trust is a serious matter for businesses. Based on a July 2015 poll from the U.S. Census Bureau and the National Telecommunications and Information Administration, security and privacy concerns are a big reason consumers are not doing more online. The survey found that 45 percent of respondents have stopped at least one online transaction due to these concerns, such as purchasing items online, commenting via social media, or making Internet-based banking or investment arrangements.
Experts are predicting that the recent tax reform will create an abundance of new business growth and activity – just not the kind that lawmakers originally intended. These people are predicting a surge in efforts for reclassification and the organization of cover companies by employees so they can have their salaries recognized as business income, significantly lowering their tax burden as a result. Read more
Uncover the Pros and Cons of Secured Financing versus Unsecured Financing
Understanding what types of financing exists and how these options can be applied to one’s business can be helpful when it becomes a necessity. Whether it’s secured financing through the U.S. Small Business Administration (backed with personal and business collateral) or unsecured types of financing through venture capital or angel investors, each type has its potential benefits and drawbacks.
Is it the Right Time to Franchise a Business?
When a business owner wants to expand his business concept across a region or the country, franchising can be an attractive option. According to the International Trade Association’s 2016 Franchising Top Markets Report, franchising was projected to generate $944 billion in financial growth for the nation’s economy, expanding more than 3 percent in 2016. The same report also expected the franchise business model to create an additional 278,000 jobs in 2016. With the potential for franchising to create greater value for business owners, is franchising right for your company?
The Roman philosopher and statesman Lucius Annaeus Seneca once said that “If one does not know to which port one is sailing, no wind is favorable.” Although this is a true statement in many ways, knowing how the wind will be on the journey to the desired port is critical. Every business needs a detailed business plan so everyone in the venture knows where they are going and how they plan to get there. However, along the path, every business needs to understand what they face along that journey. That’s why financial forecasts are so crucial. They allow businesses to see how they are faring on their journey. Having this financial plans from forecasts allows the owners of firms “to track actual events against the financial plan and make adjustments as the year passes.”1 Read more
Innovation, creativity, and thinking outside of the box are buzzwords in the business world. There’s good reason for it because the smallest difference in a product or service can drive exponential profits. Innovation and creativity may be the center of the talk, but these words merely orbit around the power of an idea. After all, an idea sparks innovation, creativity, and outside thinking into action. Read more