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Tag: Business Tips

  • How to Increase Productivity and Manage Multifaceted Tasks for Your Team | Entrepreneur

    How to Increase Productivity and Manage Multifaceted Tasks for Your Team | Entrepreneur

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    If you want to improve profits and create a more well-rounded company, you’ll need one secret weapon in your arsenal.

    Productivity.

    If your team lacks productivity, your company could be at risk of missing deadlines, losing sales, or (even worse) being forced to take on a lower volume of work. Without a productive workforce, operating at peak efficiency isn’t possible.

    But while it’s one thing to know that you need a productive workforce, it’s something else altogether to improve productivity levels in a way that delivers maximum impact.

    In today’s article, we’re sharing key insights into the importance of team productivity. We also share ten ways to improve it to manage multifaceted organizational tasks better.

    Why is productivity so important for teams?

    It’s common in the business world to hear about how important productivity is for teams, but what does that really mean? Why is it given such importance?

    Productivity is about more than just finishing work fast. It also involves employee satisfaction. Happy team members working in a low-stress environment are more driven to do more and work at a higher level.

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    Engaged and happy employees are far more productive, and that increase in productivity leads to an average 21% increase in profits.

    That’s why everyone always seeks the best ways to increase team productivity.

    This common desire spans just about every industry.

    Take property managers, for instance.

    Property managers can easily use a service like PetScreening to collect information about pets on their property and manage pet policies in one place. A service like PetScreening improves property management productivity by streamlining pet and animal processes more effectively. This ultimately saves time and allows property managers to rake in more pet-related revenue.

    Productivity initiatives can help improve your profits and ultimately increase the valuation of your business. That’ll be important if you decide to sell and need to find buyers for your business.

    That productive team you’ve worked so hard to cultivate over the years can help improve your profits and sale price if you implement some of the initiatives we’ve outlined in the next section.

    How can you increase team productivity?

    Determine your current productivity level.

    Before you can start improving your team’s productivity level, you must determine where you are and how you got there. You’ll need to understand the current productivity level within your organization to get a baseline understanding of where you need to be and how far of a journey that will be.

    If your team lacks productivity, then you know this could be a longer, more drawn-out process. But they might already be very productive and satisfied and need some fine-tuning.

    Without auditing your productivity levels, you’ll never know.

    It’s a good idea to track time for two weeks, if not a month, to learn about your team’s time-tracking habits and how they spend their time.

    This is also the only way to obtain more specific information on how each team member prefers to manage their time and how it reflects on the entire team. If you’re using a platform like Notion, you can use one of the best Notion widgets to start making time and scheduling changes and improvements based on your gathered data.

    Set clear expectations

    If your employees are going to be able to perform to your expectations, they have to know what those expectations are. But they can’t be expected to figure that out alone. Communicate with your team clearly and frequently to let them know what you want when you want it, and how you want it done.

    It’s also a good idea to put this information in writing, whether in an employee handbook or a job description. You can better hold your employees accountable by communicating these expectations in a way you can easily reference. This is as true for processes as it is for goals and KPIs.

    You can set clear and measurable objectives simply, where different KPIs are clear to all team members.

    For instance, let’s say you have a mid-sized business that’s dedicated to teaching people how to invest. In this case, you’ll probably have different teams that advise on different industries or options. Giving these teams clear KPIs that can point them in the right direction will help increase their productivity and, ultimately, your profits.

    Clearly define team roles

    When shooting for more productive team members, it’s important to define the various roles within your organization clearly. Your employees need to understand what falls under their job descriptions as well as what everyone else around them does.

    That way, when something crosses their desks that falls outside of their responsibilities, they can easily direct it to where it needs to go without wasting precious company time.

    It’s the difference between “That’s not my job” and “That’s not something I’m qualified to handle, but I can send you to the right person on our team.”

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    To recap, when you define roles and responsibilities across your team, every business employee knows exactly what they need to do and how they need to do it. They also deeply understand what everyone around them needs to do and can help hold those team members accountable.

    Imagine you own an automotive parts company. Dividing your team according to their experience and ​​knowledge areas would be essential. You can have an employee who’s an expert in assembling truck parts and another who knows everything related to truck accessories. Knowing their strengths will allow you to set objectives and goals for them, increasing productivity.

    But if someone approaches the employee specializing in truck parts regarding accessories, they’ll know enough to direct that individual to the other member of your team who can better support them.

    Be transparent

    Your business processes shouldn’t be some mystery to unravel.

    You must be incredibly transparent about what you expect and how the company operates. A bonus? This can help your team members feel less stressed and frustrated at work.

    Again, happy employees are essential for continued efficiency, as they work harder and have more confidence on a day-to-day basis. Transparency has become increasingly crucial for attracting millennial and Gen Z workers, who are unwilling to play guessing games and participate in cloak-and-dagger working environments.

    By improving your level of transparency on all levels, you’ll reduce workplace stress and create an atmosphere that thrives on open information, positivity, and productivity.

    Delegate tasks

    One way to improve organizational productivity is to know when to delegate tasks.

    You and your team will have many multifaceted tasks to accomplish — but only some of these tasks will be necessary to drive the business forward. Others will be menial work that needs to be done but should never be prioritized over those more important tasks.

    That’s why it’s vital to delegate work off the plates of those engaged in vital operations to other team members who aren’t as busy or outside contractors.

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    Something like clerical duties or content writing services can be outsourced to third-party agencies, freeing up a lot of productivity time for your essential workforce. Hint: If your company doesn’t specialize in it, consider outsourcing it.

    Make processes simple

    The fewer steps in a task, the less time it’ll take. That’s why ensuring that the processes you use to drive your company’s operations are streamlined and simple is essential.

    In other words, aim to shorten the distance between the start and end of a task.

    For example, suppose your team members need to open one platform to track their time, another to mark down customer notes, and another to close out tasks to move them along to the next person. In that case, you’re drawing out the process unnecessarily and detrimental to productivity.

    Bottom line? Look for platforms that offer all-in-one solutions, and keep the number of hoops your team members have to jump through to an absolute minimum.

    Invest in new technology

    Part of making your processes simple comes down to the technology you use. Automation platforms have helped businesses improve productivity, entrusting smaller mindless tasks to artificial intelligence platforms that can complete these tasks quickly and on time every time.

    This frees up human team members for more complicated and mentally stimulating tasks. Automation platforms can include a CRM, Calendar, time-tracking solution, project management tool, chatbot, and more.

    Choosing a content management solution can also help you improve productivity by allowing your content and marketing teams to create, edit, and publish online content quickly and efficiently. A powerful CMS platform can make business processes more efficient and a team more productive.

    And, of course, you can’t forget about security.

    Malicious actors and cybercriminals aim to disrupt a company’s online operations, hurt its processes, and steal its data.

    That’s why it’s important to have adequate security measures in place to help prevent unwanted intrusions.

    It’s also important to educate your team members about potential cyber attack warning signs and the steps they can take to help mitigate their impact.

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    Investing in powerful security and encryption systems and educating team members on threat management, like DDoS attack prevention, can protect your business data and reputation. It can also avoid costly slowdowns that kill productivity.

    Bring on new team members when needed

    If your team is still struggling with productivity despite instituting the changes in this guide, the problem might be that your workforce isn’t large enough to tackle the volume of tasks you’re bringing in.

    When you realize that your employees are overloaded with multifaceted tasks, it’s time to think about hiring new team members or outsourcing to freelancers.

    If you have a strict hiring budget, consider hiring entry-level workers, such as students or minors, with little to no experience. Job-seeking minors are quite easy to find. Consider posting your employment opportunities on career boards specifically geared toward finding jobs for 17-year-olds.

    You may soon cultivate employees with valuable skills if you allow them to grow with your team — one of the key pillars of building an inclusive workplace. Not to mention that younger workers inspire creativity, energy, and innovation.

    If you opt for this route, consider optimizing the new hire onboarding process by including existing employees in the training and mentoring process. This may also help contribute to deeper, more meaningful relationships among employees, which can help motivate them to bring their best selves to work. Win-win-win.

    Recognize successes

    One of the best ways to improve employee morale (and therefore improve productivity and profits) is to call out and recognize small and large successes.

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    All too often, employees feel as though employers only recognize them for negative issues or failures. By calling your team members out when they succeed, you can create an atmosphere filled with positivity — where you celebrate victories, and team members encourage one another.

    You can also incentivize success with prizes like a virtual pizza party, time off, or gifts.

    Develop employees

    One of the best ways to recognize success is to promote from within.

    When your employees see that those who excel and meet their goals are rewarded with professional development plans that lead to more responsibility and higher salaries, they’ll want to give their all so that they can advance within your organization.

    Wrap up

    Productivity can be your ticket to profitability.

    By investing heavily in initiatives that can improve your team’s profitability, you can create a more effective workforce tackling multifaceted tasks, meeting your customers’ needs, and creating a positive workplace environment.

    To review, you can improve profitability for your organization by:

    • Determining your current level of productivity
    • Setting clear expectations
    • Defining team roles clearly
    • Being transparent
    • Knowing when to delegate tasks
    • Simplifying your operational processes
    • Investing in new technology
    • Bringing in new team members when needed
    • Recognizing successes
    • Developing employees who excel

    Remember, when you invest in productivity, you invest in the future.

    Following the advice in this guide can help set your business up for more efficiency and increased profits.

    Featured Image Credit: Pexels; Thank you!

    The post How to Increase Productivity and Manage Multifaceted Tasks for Your Team appeared first on Calendar.

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    Mike Bandar

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  • Prevent Wasting Time in Meetings With These Tips | Entrepreneur

    Prevent Wasting Time in Meetings With These Tips | Entrepreneur

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    Is it possible to skip meetings? Most likely not. However, you may choose to skip some of the most inconvenient appointments on your calendar and recuperate crucial times.

    Why do most meetings squander so much time? Is it any surprise most people would rather go to the doctor than go to a meeting?

    Meetings may be helpful, but they aren’t always. They begin late, continue for an extended period, and fill the given time with more hot air than substance.

    People often arrive unprepared. There isn’t a defined plan. The outcome isn’t predetermined.

    As a result, no one makes a choice. Progress is slow, and, as a result, guess what? We need more meetings!

    It seems to be a trap. Alternatively, it might be a reoccurring nightmare.

    Even though 9 out of 10 individuals agree, we continue to have these meetings. To believe that they are required.

    Meetings are an essential aspect of business culture that is unlikely to alter anytime soon, no matter how terrible they become.

    Why is it so challenging to avoid meetings? Who invented the meeting, anyway? Putin? Rasputin? Caligula? Why are meeting apps so expensive?

    You have a sense of responsibility. After all, you’re a part of the company culture, and small group conferences are a big part of it.

    You want to have a say in what happens.

    If meetings are where the action occurs, it’s critical to attend them, no matter how inefficient they may be.

    You must keep up appearances. Many people will frown on actively disengaging. That is not an excellent strategy to expand your area of influence.

    Meetings’ gravitational pull sometimes is too strong to resist for these and other reasons.

    The most effective techniques to avoid wasting time in meetings

    Getting ahead of the meeting game is the key to regaining your time.

    To begin, set up some meetings with yourself. Create a block of time on your schedule when you intend to work alone.

    Instead of cramming time in whenever you can, set aside some prime time for yourself during off-hours.

    This is an excellent idea for a variety of reasons. One of the reasons is that people can’t readily schedule your time if you’re unavailable.

    Examine the forthcoming meetings that are already on your schedule.

    Is it possible for you to send someone else in your place? If you’re a leader, you must uniquely safeguard your time. Don’t be frightened to pull the trigger.

    Is it essential to have a meeting? Is it feasible to fix this by phone, email, or another method? Any alternative is likely to be more effective.

    Is it necessary for YOU to attend? There are often too many people present at a meeting.

    You may be allowed to skip if others from your team are going. People may be permitted to skip a conference if the plan does not cover a topic of concern. You generally don’t need to attend all of them if there is a series of them.

    If you don’t need to be at the meeting, don’t bother.

    Is the meeting’s purpose well-defined? If you cannot avoid the meeting, you should make every effort to make it as fruitful as possible. In this instance, you might perform some research by contacting the organizer and stating your objectives. This usually causes individuals to think more about the meeting, which should help them enhance their preparation.

    Is everyone ready for it?

    If you can’t skip, you can at least assist in moving things along. Meetings are seldom adequately prepared by the majority of individuals. You may be able to detect this and assist in transmitting information ahead of time. You get paid in spades for your efforts.

    Should you say “no?”

    It’s okay to say no now and again. You believe you are not required to attend this meeting. You can probably figure things out much more simply than you think if you contact the organizer beforehand.

    Everyone is pressed for time and wants to be efficient. You could be surprised by the outcomes if you handle this topic professionally and with that attitude.

    Is it possible for you to manufacture an excuse?

    I believe you have a good explanation many times but are hesitant to utilize it due to the enormous duty we all feel about attending meetings. Take the time if you need it for anything else.

    Is it possible for you to come late or depart early?

    Another strategy that works well is using an organizer. The plan will turn in your favor all of a sudden. Because Susan needs to go early, let’s start with XYZ. It’s almost magical! You take part in the agenda item that is most essential to you, and then you go.

    Why you shouldn’t be ashamed of these tactics

    Here’s the deal:

    • You’re trying to make the most of your time. There’s no need to apologize for it.
    • Your efforts could influence others to reconsider their practices.
    • If enough individuals guard their essential time against unnecessary meetings, the culture could begin shifting.
    • You don’t want to risk your health and welfare by cramming workaround wasteful festivities.
    • If you’re working late, alternatively, you may arrive early. Working on weekends is another option. You’re making a huge mistake if you have a day packed with pointless meets.
    • You’re sacrificing personal time and stressing yourself out.
    • That isn’t going to assist anybody. It’s preferable to be a bit more daring when avoiding time-consuming get-togethers.

    Conclusion

    Like most professionals, you are probably attempting to do too much in too little time. Aside from unnecessary confabs, several productivity tips may assist. Meetings may waste a lot of time. They generally start late, run over, have vague goals, and achieve nothing.

    These sinkholes might help you save a lot of time.

    While meetings are an essential aspect of business culture, and there are many excellent reasons to put up with them, there are several easy and efficient ways to avoid them. Leaders may avoid some by blocking time on their calendars. You may refuse specific requests.

    Alternatively, send a delegate. You or someone else may work up the schedule and plan for meetings in advance with the organizer and other attendees.

    Indeed you may choose to skip a portion of the meeting. You may have a far more efficient meeting experience by arriving late or departing early. Consider how you spend all of your time.

    Are you ready to take your team meetings to the next level? It will help you enhance engagement, performance and have more fun.

    (Full disclosure: This article was written during a long boring meeting.)

    Image Credit: Photo by Clarissa Schwarz; Pexels; Thank you!

    The post Prevent Wasting Time in Meetings With These Tips appeared first on Calendar.

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    Max Palmer

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  • Asynchronous Communication: Speedy Work; Secret Weapon | Entrepreneur

    Asynchronous Communication: Speedy Work; Secret Weapon | Entrepreneur

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    Asynchronous Communication is the entrepreneur’s secret weapon for getting more done, is now possible and greatly encouraged by many businesses. Asynchronous communication includes email, text, letters, voice notes, and any other type of communication that does not occur in real time. It’s like going back in time in some respects, but it’s necessary.

    Synchronous communication necessitates the presence of two persons at the same time. Meetings, phone calls, and Zoom sessions must be on a schedule for synchronized communication. Both sides must be present physically and intellectually. Questions must be answered immediately during this form of contact, or there will be a follow-up where people take action and loose ends are tied. However, the instantaneous back and forth during a live meeting or conference isn’t always necessary or desirable.

    Asynchronous communication is now possible with or without avatars.

    Businesses embrace asynchronous communication and people to help them take control of their days, focus better, get more done, and avoid overlooking something at the price of genuine work.

    When you don’t need to communicate in real-time, you’ll feel less rushed, have fewer distractions, and have more uninterrupted time to produce and create. It’s as if life was simpler before alerts, and we weren’t required to be so quick to respond. Some of history’s most successful entrepreneurs, artists, and innovators sequestered themselves for extended periods, seeking isolation and undisturbed thought.

    Asynchronous communication has several advantages.

    Choosing async versus sync means no calendar alignment or unwanted, attention-grabbing invitations to “get on a call,” especially important for firms with a worldwide workforce. Professionals may work at their speed and according to their schedules, allowing them to manage time zone differences better.

    Making information transmission the norm means you can work whenever and wherever you choose. Knowing that no communication will necessitate an instant response and that colleagues will not anticipate one frees up time to focus on other things. Low-level distractions detract from serious work. Still, communicating entirely asynchronously until essential allows you to reply in batches at the discretion of a professional.

    Without waiting for someone to become available, projects can go forward, talks can take place, and you can resolve difficulties without Zoom calls. You don’t need to set aside time, find a quiet area, or prepare for the talk about ordinary concerns.

    If you don’t arrange meetings or block off time in your calendar, you won’t be able to flip your schedule around if someone cancels. None of it needs to be canceled if a problem arises, such as illness or daycare, and the answer merely comes later. Last-minute cancellations irritate professionals who may have arranged their whole day around that one appointment.

    Watching a webinar with headphones on, a focused lady takes notes.

    The idea in modern organizations is you must provide that diary space. Calendly links simplify arranging an appointment directly into someone’s calendar. Cell phones simplify asking a question that you might have answered with a fast Google search. You might better spend time and attention establishing, producing, and growing a business.

    Meetings, Slack, and an “always-on” mentality have become so commonplace that they no longer pose questions. It is impolite for a team member to decline a meeting and request an email summary. Buyers of software goods anticipate an in-person demonstration and feel “duped” if they have to watch a YouTube video instead. We want so much of other people’s time while squandering our own. This does not need to be the case.

    Asynch functioning may be a powerful and efficient approach to getting things done while keeping team communication on track. While there is a role for synchronous communication, and it has advantages, it is likely to cost more in the long run.

    How can async become the norm?

    You may make asynchronous communication your new norm by being more inaccessible and declining meetings and appointments until required. If your phone calls don’t answer them (as they say in Russian), teach your coworkers that they don’t require an instant response. Before allowing someone to reserve a space, watch your calendar closely and ask additional questions. Inquire about the meeting’s objective, the start and finish times, the plan, and any needed follow-up. You could discover that it’s possible to accomplish it through email. If the prospect of a blank calendar fills you with dread, set aside every day for “serious work.”

    Shifting from continuous to asynchronous communication requires not just a cultural transformation. Indeed it requires high confidence in employees to use their days wisely and avoid procrastination. With strictness, self-awareness, autonomy, mastery, purpose, and no expectation to abandon random phone calls, team members and companies will thrive.

    How to Adopt Asynchronous Communication

    To maximize the benefits of asynchronous communication in the workplace, it’s important to implement certain strategies. Firstly, choose the right tools that facilitate efficient asynchronous communication, such as email, project management software, and collaboration tools. Ensure that these tools are user-friendly and accessible to all team members.

    Setting clear expectations is crucial. Establish guidelines for response times and availability, communicating to the team how quickly they can expect a response and what matters should be addressed in real-time. Clear expectations help manage communication flow and avoid misunderstandings.

    Encourage transparent and detailed communication among team members. Since there won’t be immediate opportunities for follow-up questions or clarifications, providing thorough information in messages is important to minimize back-and-forth exchanges. Structured formats, such as bullet points or numbered lists, can help organize and convey information effectively.

    Embrace documentation and knowledge sharing. Asynchronous communication allows for the creation of a valuable knowledge base. Encourage team members to document discussions, decisions, and important information in a central repository. This enables easy access to information and helps new team members get up to speed quickly.

    Lastly, foster collaboration and feedback despite the lack of real-time interaction. Encourage team members to provide constructive feedback on documents or projects and create designated spaces for discussions and brainstorming.

    Additionally, respecting time zones and work-life balance is important, especially if the team is spread across different regions. Avoid scheduling urgent tasks or expecting immediate responses outside of regular working hours, and foster a culture that values personal boundaries and supports work-life balance.

    Regularly assess and seek feedback to continuously improve your asynchronous communication practices and adapt to the team’s evolving needs.

    Image Credit: Pexels, Cottonbro Studio; Thank You!

    The post Asynchronous Communication: Speedy Work; Secret Weapon appeared first on Calendar.

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    Matt Rowe

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  • Creative Ways to Make a Productive Outdoor Workspace | Entrepreneur

    Creative Ways to Make a Productive Outdoor Workspace | Entrepreneur

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    People are always looking for the best way to work. Greater efficiency gets more work done with less effort, and higher productivity means you can accomplish more in pursuit of goals and aspirations. The big question is how to bring those numbers up without overextending yourself.

    Your work environment is a major contributing factor toward productivity. The reason why many people decorate their cubicles and try working from home is to seek out the ideal working conditions for themselves. Another potential option you can look into is an outdoor workspace.

    There are many reasons why working outside might be a good fit for you. Sunlight and fresh air can boost your energy levels and improve your focus. Here are some ways you can create your own outdoor workspace for yourself or for your team:

    Block Out the Elements With Style

    Perhaps the biggest hindrance to working outdoors is, well, the outdoors. While the weather may feel exceptional, there are a few minor inconveniences that will need to be worked around. Primarily, we’ll focus on sunlight and wind affecting your workspace.

    These elements are necessary components of the outdoors, but need to be controlled in a way that makes work outside possible. Start by blocking out the sun as conveniently as possible. The glare from the sun makes working on an electronic device almost impossible. Experiment with colorful umbrellas or wooden sheers that add functional flair to your workspace.

    These items may also help curb the breeze. The wind is a little less problematic than a bright ball of gas in space, but it can be meddlesome nonetheless. Hedges, fencing, or even a screened-in porch can get you the best of the outside world.

    Embellish the Environment

    Perhaps the biggest benefit to working outdoors is, well, the outdoors! The ambience of an outdoor workspace just can’t be beat when compared to drab, gray cubicles and windowless office spaces. When creating an outdoor workspace, you should really lean into everything that makes working outside great.

    Start with the scenery. Embrace the greenery around you. Plant some trees, flowers, and bushes in strategic locations that will bring your outdoor workspace to life. You can even start a garden that will be both beautiful and practical.

    You can get extra creative with how you beautify your new workspace. Add some ambience with a water fountain, put up some bird feeders to attract wildlife, or even look into some wind powered yard art. Just be sure not to add anything that will become overly distracting, as that defeats the entire purpose.

    Provide a Variety of Options

    One reason why people enjoy working outside is for the change of pace. The light, the sounds, the smell, everything is different when compared to a regular office space. Weather fluctuations make every day a little different as well, while the indoor workspace will always remain the same.

    To really embrace this constant change of pace, your outdoor setup should provide a variety of different options to choose from. Lay out different seating options, or maybe even set up an ergonomic standing desk to use. Your mood and energy levels might match the weather outside and call for different seating arrangements.

    Another way to provide options is to create a flexible workspace. For example, as the sun moves through the sky, the shade will move along with it. An adjustable canopy allows you to adjust your seating arrangement to let in the sun and shade as much or as little as you’d like throughout the work day.

    Keep the Bugs Away

    Remember those bird feeders we mentioned early? Those will come into play here as well. Warm weather is just as appealing to insects as it is to you. Few things are as bothersome as a bunch of bugs getting into your workspace, so you need to take care of that as soon as possible.

    Bird feeders attract a delightful predator of those annoying creepy-crawlies. Not only are birds beautiful creatures, they can eat a lot of bugs on a daily basis. More birds means less bugs flocking to your computer screen.

    Those plants you grow to beautify your workspace can take inspiration from this as well. Certain herbs such as lavender and basil act as natural insect repellent. Plant a few of these around the property for good measure.

    Make Sure You Stay Connected

    If you’re trying to move your regular work outside, chances are you’re going to need a computer with a reliable internet connection. This can pose a bit of a predicament. You can’t just run a bunch of extension cords outside, these can get damaged and pose a danger to you and your property. You need to be a little more precise than that.

    Something that might come in handy is a Wi-Fi extender. This little gadget has no visible wires and only requires a single outlet space, which you may already have on the exterior of your home or business. This boosts the signal of your router so the Wi-Fi has a greater circle of effectiveness, including your new outdoor office.

    Other electronic items that may come in handy include a portable charger for your personal devices, a laptop cooler to prevent overheating, or a hotspot for when Wi-Fi can’t be relied on. Nothing will halt your productivity faster than an unplanned disconnection.

    Build a Pod

    If you really want to go all in on an outdoor workspace, you can consider creating or contracting an outdoor working pod. This is basically a shed that’s focused more on being a workspace than a storage area.

    The advantage of an outdoor pod as opposed to working in your house near a window is the customization you can put into it. The majority of the pod can be made of glass to let in lots of natural sunlight while blocking the wind. You’ll feel like you’re working right in the grass without sniffing any pollen, fighting a breeze, or swatting at bugs all day.

    This option is obviously a lot more expensive than the other suggestions made above. Only take this step if you’re really serious about it for yourself or for your time. If the outdoor work pod never sees use, then your best investment is on the smaller things that will come in handy on the occasions you need them.

    Whip Up Some Food

    For optimal productivity, you need to be energized and hydrated. When working outside, all you have are the items you brought out with you. You can’t expect to run over to the kitchen every time you need a drink. What you really need is an outdoor setup with all of the fixings you could possibly need for a shift.

    If you have the outlet space, try a mini fridge on the patio with all the beverages you could want. You might even install a barbeque set for lunchtime. Even something as simple as a cooler can make it easier to keep your momentum going while working out of the house.

    Working outside isn’t for everyone. You should definitely give it an honest try before making a final decision. Give at least one of these outdoor working methods a try and test your productivity levels with the change of pace. You may never want to work inside again.

    The post Creative Ways to Make a Productive Outdoor Workspace appeared first on Calendar.

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    Howie Jones

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  • 21 Lessons I Swear By After 21 Years as an Entrepreneur | Entrepreneur

    21 Lessons I Swear By After 21 Years as an Entrepreneur | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Starting my business, five months after September 11, 2001, was no easy feat. There was a lot of uncertainty in the world and no one wanted to spend money. To top it off, I had no clients. I was just armed with a lot of self-belief and the Yellow Pages. I’d start each day cold calling 20 companies a day, as an enthusiastic 23-year-old. At night I’d work in a call center, selling charity raffle tickets for the first 18 months until I had regular work coming in.

    Celebrating 21 years since starting my own business, I share 21 lessons I have learned since diving in and launching over two decades ago. During this time, I have operated my publicity agency through the SARS outbreak, the global financial crisis in 2008, Covid-19 and lockdowns.

    Here are my 21 lessons that I swear by:

    1. You can have the best plan in place, but it doesn’t mean it will happen this way.

    Don’t spend time overthinking every single detail, rather spend that time on the implementation of your project. Often you can procrastinate, making sure to have all your ducks in a row before you start, and while it is great to be prepared, you can’t ever plan for everything. Progress is often better than perfection.

    2. Always get your payment upfront

    You are not a bank and shouldn’t have to provide customers with a 30-day due date for payments. As we know, 30 days often turn into 90 days and it often is just one default payment that can have a massive impact on your cash flow.

    3. Take time out for yourself every day

    Whether it’s one hour of exercise or just five minutes to breathe and focus on your thoughts. If you don’t put your oxygen mask on first then you can’t look after anyone else.

    4. Don’t let the person who doesn’t chase their dreams stop you from chasing your own

    The easiest thing you’ll find on Earth is someone who is happy to tell you a whole list of reasons why you can’t achieve your dreams. Often it’s best to go about what you want to accomplish without telling anyone and then once you have reached that goal you can shout it from the rooftops. By doing so you won’t be discouraged by naysayers.

    Related: How to Maintain Motivation When Surrounded by Naysayers

    5. Put aside your tax in a separate account each time someone pays you

    This will help with your cash flow when it comes to paying your annual tax bill. If you don’t it may be tempting to spend the money that you owe the tax office each quarter or year and you’ll find yourself in trouble. Too often I hear of people who are really successful in their businesses but haven’t accounted for the tax that they will need to pay each year and then have to scramble to find the funds.

    6. Scale your business internationally

    Don’t set your sights on just establishing yourself in your own country. The world is a small place. There are people abroad that will want your product or service. If easier, you could even think about franchising your business to help make it go global and allow you to grow more than you ever thought possible.

    Related: 5 Priceless Lessons For First-Time Entrepreneurs

    7. Whatever worked last year, last month or even yesterday doesn’t mean that it will work today

    You always have to stay on top of trends and try new strategies. For example, if you are running a digital marketing campaign using social media channels, you may find that the cost per click is higher now than ever before as people are selecting to opt out of being tracked. Instead, you could implement a PR program that will help you boost your awareness with earned media.

    8. Don’t build a business that is reliant on just one client

    That’s not a business and it will become too stressful when that client leaves. Instead of spending all of your time on one major client, ensure to take some time out of your day to start securing additional clients to diversify your client base and ultimately risk.

    9. When conflict arises, take the higher road

    Do this by listening and not being defensive. From dealing with suppliers to clients, it’s important that you treat others the way you want to be treated and be mindful of how you conduct yourself as ultimately it’s a reflection of your business that you are trying to build.

    10. Ensure that you share your story and make it part of your corporate communications

    Everyone has a great story and customers will resonate with your business more by you sharing your journey and why you decided to create your own company.

    11. Find a mentor

    There is always someone else who has paved the way for you that you can speak with and learn from their mistakes.

    12. Keep educating yourself

    There will always be new ways to do things more efficiently. From listening to podcasts that deep dive into a subject you need to know more of to investing in training programs that will help you sharpen your business skillset, it’s important to keep learning.

    13. Systemize your processes

    Make sure you have all your systems in place and documented for someone else to follow if you’re ever out of action.

    14. Put everything in writing

    From client agreements to negotiations with suppliers, it’s important that you always have your deals in writing for two reasons. The first is that you’ll often be really busy and may forget what you promised someone or what they promised you and the second is that you have a record that you can refer to should there be any issues in the future.

    15. Live by your school slogan

    Nil Sine Labore was my high school motto which is Latin for “nothing without hard work” and it’s something that I reflect on daily.

    16. Control how you react and it will change your business

    You can’t control what’s happening around you in the world, but you can control the way you react to external events. There are always ups and downs as a business owner and you have to learn how to ride these waves that come your way.

    17. Love what you do

    If you don’t enjoy it, then stop doing it and change your career. Life is too short.

    18. Give back

    Whether it’s through donating, doing pro bono work or volunteering at a charity. It’s rewarding and will add more meaning to your life.

    19. Business cards aren’t redundant

    It’s the best form of remarketing. Someone, when pulling out their jacket at the next wedding they go to, or Christmas party or meeting, will find your card, possibly several months later and will think of you.

    20. Be consistent

    Whatever your marketing, sales or growth strategy is, you have to be consistent with it. For example, if you are trying to attract more business by posting on Linkedin, you can’t post three times a week and then not post for a month. You need to be consistent in your approach.

    21. You don’t always need an investor to get your business idea off the ground

    Don’t worry about finding an investor to back you to get your idea off the ground. Back yourself and most importantly believe in yourself. If you don’t back yourself, then no one else will.

    Theese 21 lessons above have been instrumental in me launching my business, staying in business and ultimately growing my business internationally. Just because you have been in the game for many years doesn’t mean that it will get easier, but you can be sure that following these strategies will help you navigate the path that lies ahead. Enjoy the ride.

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    Adrian Falk

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  • Remote Conference in Post Pandemic | Entrepreneur

    Remote Conference in Post Pandemic | Entrepreneur

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    Continuing the conversation about in-person conferences vs. remote meetings. How are some completely useless while other meetings are so meaningful? Let’s take a look at how you can get more out of these remote meetings.

    TURN TOWARD the conference camera.

    You have a captive audience when giving a presentation at a live conference. In a virtual meeting, you must look at the camera rather than the screen. Adjusting to this change may have taken some time. Now you have more people back at the office and more divided — you will want to be attentive, looking from your live audience — then back at the camera. If you look at your screen — you will appear to be addressing nobody due to the camera angle. Whether you have only one other participant that is still working from home — keep assuming the audience is the camera.

    When it comes to notes, you can be reading from a note in your hands or a computer screen. However, try to keep your eyes on the camera whenever you raise your head. Speaking without notes and having most of your content memorized are absolute requirements for professionalism; don’t let cameras and notes divert your attention. Another nasty habit is touching your face while looking into the camera.

    Using fewer keyboards

    When people use their keyboards in a video conference to take notes or perform other tasks, it doesn’t look good. To generate more ideas during meetings, it’s best if everyone pays close attention and is psychologically present. A challenge can be your keyboard. Other team members could be irritated by your fingers tapping on the keyboard. One of the founding concepts to meetings is to use the keyboard less. Whenever necessary, use a quiet keyboard when taking notes or minutes at a meeting — and only type if absolutely necessary.

    Even better, during a video conversation, record the meeting and send out the notes later. You can record a video conference screen using any top virtual conferencing program. Be sure to ask permission beforehand though, as the host of an extremely private video conference may forbid recording.

    Minimize conference movement

    You might believe that since you can’t see the other players, your motions are meaningless. However, it is crucial to keep all of your body motions at a minimum. Several meanings can be conveyed nonverbally. It is important to move as little of your body as possible. Other players will be irritated and distracted if you sway from side to side. Don’t. A similar sign of discomfort or weariness during your meetings is to shift in your seat frequently.

    Take a minute to relax

    This is not only for the meeting hosts. In any conference, breaks should be kept to a minimum but still provide enough time for a relaxing break. However, if you are conducting a protracted conference, this is essential to have a long break and to provide food. A five-hour live or virtual meeting without breaks would not be enjoyable. Your attendees will appreciate the opportunity to use the restroom, eat, unwind, or simply leave the event for a short while. Keep in mind that exercise enhances cognitive well-being.

    What time of day is ideal for a conference break, though? The length of meetings and breaks should be considered when creating your conference schedule. A meeting should last 52 minutes with a 17-minute break, according to Rule 52 and 17. Thus, participant productivity is increased. You could change the timing. A meeting can be scheduled for 50 minutes with a 20-minute break, making it 70 minutes in total. Those are the rules — but in our company — we have most of our meetings at 30 minutes with no breaks, which works well for us.

    Avoid eating

    Don’t eat in front of the camera. Avoiding eating close to a computer is one of the computer usage rules to prevent crumbs from getting lodged between the keys. Eating during a conference, whether it is virtual or not, can be seen as unprofessional. Try to conduct yourself as if you were meeting in person. Particularly at a small conference, eating can be a big distraction.

    Before leaving the conference, let folks know.

    By pressing the exit button, you can leave the conference whenever you choose. You should not, however, ghost your participants. The host may invite you to speak or make a presentation. If they know you have left, they can exclude you from the conversation and choose another person to take on the duties.

    There may be unforeseen circumstances that compel you to leave the meeting. However, you should inform someone. An excellent choice is to send a chat message. Be as polite as you can and provide a justification for your departure. Simply close the video conference window in this situation and open it again when you get back.

    Protect important info.

    When presenting at the conference, you’ll likely need to share your screen with other participants. Unrelated files may be present on your computer. It’s unprofessional to share your screen with offensive material or unrelated material. The reputation of your business may be harmed by inappropriate content. Ensure only the stuff you want other meeting attendees to see is visible when you share your screen. Also, keep privacy in mind, and don’t have client information out on your screen.

    Before starting a video conversation, close any unneeded browser tabs and applications. Results from auto-complete could be embarrassing if you’re sharing your entire desktop. Open a different browser tab and make arrangements in advance to protect sensitive information. Instead of sharing your full desktop, it is best to share one screen or program. This gives you more power to influence how your audience views your content. Everything should revolve around you and your main message — nothing else.

    End professionally

    You should reasonably wrap up your online meeting in a professional manner. One of the more palatable ways to accomplish this is through a closing round, as promoted by Twitter and Medium co-founder Ev Williams. The idea of a concluding round is fundamental. You only request closing remarks on the subjects covered during the conference. This can be completed in 30 seconds or less. Everyone has the opportunity to give their a few-second question or complaint at the final round. As the host, you need say nothing — and it will show that you value other points of view as a host.

    You can then take one minute to highlight the key takeaways from the conference as the host — but don’t beat any point to death. Ideally, you should prepare your closing remarks in advance.

    Finally, as the conference’s host, you should depart last because you might end the broadcast by yourself. It may be viewed as rude to end a video call while someone else is still on it. Please give a cheery farewell so others are left with a good feeling.

    Image Credit: Photo by Katerina Bolovtsova; Pexels; Thank you!

    The post Remote Conference in Post Pandemic appeared first on Calendar.

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    Max Palmer

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  • Things to Think About for Meeting Rooms as You Return to the Office | Entrepreneur

    Things to Think About for Meeting Rooms as You Return to the Office | Entrepreneur

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    As many of us have been asked to return to the workplace — here are six things to consider regarding your meeting rooms.

    If your firm’s return to the workplace keeps you up at night, it’s simply another item on a long list of things you shouldn’t be worrying about right now. Or allowing the ever-changing trends of business to hassle you.

    Remote work has supplanted on-site labor. Even under challenging situations, organizations and individuals appreciate the increased productivity and time back in their schedules. However, will it last? When workers return to the workplace, what happens? How do you organize a meeting in a secure setting and sync everyone’s calendar?

    When everyone returns to the workplace, you’d be proper to be thinking about your conference room setting as an IT Manager or even an HR Manager.

    You have some things to think about, whether this year or next.

    • How many of your colleagues have returned to work at the office in the last few months?
    • What will future meetings look like for the next few months and into the future?
    • How do you have meetings in a socially distant setting?
    • How will you include everyone in the office and at-home workers?
    • What can you do to ensure that these meetings stay on track?
    • How can I get my staff to return to the office with a good attitude?
    • How do you connect the equipment in your meeting room to the virtual meeting software?
    • All of these questions, and more, are answered in this piece.

    Employees are Heading Back Into Work

    JPMorgan Chase, America’s largest bank, has requested traders at its New York-area facilities to return to work after a drop in productivity — and this is likely with many other businesses, as well.

    A brief LinkedIn survey revealed that some workers had already returned to work.

    Dominic Kent — on Medium is the Director of Content Marketing & Communications at Mio. Founder of UC Influencers. He surveyed returning to the workplace vs. working from home last year, and there are a lot more coming back now.

    It’s been widely publicized that businesses are returning to the office — starting last year — and the return is ramping up more now. Still, giant firms like Shopify and Twitter went remote fast and openly, but they are returning to the office now, too.

    Other companies such as Yahoo, IBM, Aetna, and Best Buy have revised their work-from-home policy and requested employees return to the office.

    In a Wired article, David Bishop stated: Clients like Gymshark and other huge firms like Yahoo, IBM, and Deloitte have realized that staff is more productive in the office. That is to say, they require their workers to come back, and they are working to make the workplace develop into a solid corporate culture. Bishop is Design Director at Oktra — (cool office design and furniture).

    As some businesses realize the constraints of remote work. However, the urge to return to the office presents a new problem for IT and HR managers.

    Employees are looking forward to returning to the workplace for various reasons. Reasons include fatigue, a lack of in-person connection, and even missing the drive.

    When it comes to your firm, don’t rush it. You must guarantee that you are adequately prepared for future encounters.

    What will a future meeting look like?

    We have no way of knowing what meetings will look like in the future. We can, however, predict what is likely to occur—and how you can make them pleasant and productive for your team.

    We’ll start with the fundamentals. That is to say, rather than imply that most meetings would be held in person, just like how it was pre-pandemic. There may still be some meetings that would be best to keep virtual, such as for teams that are located in different locations — and maybe even if you’re spread out in a builing. However, it’s still very beneficial for all teams to meet in person together to improve productivity (and camaraderie) and team unity overall.

    New Technology

    If you feel that you’re going to need to keep on doing lots of virtual meetings, you will need new video conferencing software and hardware. Quality will win over quantity in this situation; you may consider adding cameras, microphones, computers, computer stands, or anything else that your employees may need. It is also possible that you may need some way to integrate the old meeting devices and software. This may require the purchase of new equipment if the current equipment is not up to date.

    People

    You may not have as many people in the workplace as you used to. Still, meetings can be productive and beneficial for everyone involved, whether that be virtual, in-person, or hybrid. At the end of the day, it’s important to focus on the people in the meetings more than the technology that will be involved. Sure, technology will play a role, but the people that compose your teams are much more important than a microphone or another piece of equipment. Consider setting up meeting rooms or even individual meeting rooms if they are not set up already.

    When it comes to your employees, your top priority as a leader should be to make them comfortable. Moreover, do everything possible to make them feel secure in an unfamiliar setting.

    After you’ve addressed safety and comfort issues, there’s the unique difficulty of keeping everyone engaged. You could hire a brass band. Or show movie trailers. But the best way is to make participants responsible for their own engagement. Ask them what they want from the meeting, then make sure they get it — keep your words in emails and communications to a short 200 words or less.

    Employee Feedback

    When a company switches from remote work to in-person operations, employee feedback is essential. Here are four reasons why it’s crucial to gather and take into account employee feedback:

    Adaptation to Changing Requirements:

    As workers return to in-person work, employee feedback offers helpful insights into their evolving requirements and expectations. Regarding the design of the workplace, safety procedures, scheduling, and teamwork, employees could have particular issues, preferences, or recommendations. Companies can modify their policies and procedures to match the changing demands of their workforce by actively seeking out and listening to employee feedback, which promotes a smoother transition and increases employee satisfaction.

    Employee buy-in and engagement are increased when employees are given a voice in decision-making through feedback mechanisms. Employees are more inclined to care about the success of the transition when they believe that their ideas are valued and taken into account. A collaborative environment where employees feel empowered to participate in the decision-making process is created by actively seeking employee feedback, which increases buy-in and support for the changes being made.

    Challenges and Opportunities for Improvement:

    Employee feedback can be used to pinpoint problems and regions that need improvement during the transition. The return to in-person work may cause bottlenecks, communication breakdowns, or other inefficiencies, and workers may be able to shed light on these issues. With the help of this input, businesses can proactively address problems, make the required corrections, and improve processes, ultimately improving the overall working environment and maximizing operational effectiveness.

    Well-being and help:

    Employee feedback gives staff members a forum to voice their worries about their well-being and draw attention to any additional help they may need as the shift occurs. Employees may need to make adjustments when they resume in-person work, such as with commuting, juggling obligations outside of work, or adjusting to more frequent social interactions. Companies should implement policies to assist employee well-being, ensuring a seamless and successful transition by asking for and acting on employee input.

    Image Credit: Pexels; Fauxels; Thank you!

    The post Things to Think About for Meeting Rooms as You Return to the Office appeared first on Calendar.

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    Howie Jones

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  • Business Scheduling Apps: Great Booking App | Entrepreneur

    Business Scheduling Apps: Great Booking App | Entrepreneur

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    Software for scheduling appointments has the advantage of taking care of tedious tasks like client cancellations and rescheduling. Making more appointments gives you and your staff more time to focus on doing more practical work. Of course, you must ensure that your chosen app offers all the required features. Additionally, it works with all apps for remote meetings.

    Here are several red flags of remote meeting apps:

    You should be able to customize your booking experience using the app. The scheduling software used by a personal trainer will differ from that used by a salesperson or a freelance photographer. In addition to scheduling a time and place, the system could ask your clients to specify a purpose for their visit or finish a quick survey if they are brand-new. What you should be able to do with a good scheduling tool.

    Scheduling Payment Processing: Due to the fact that many customers choose to avoid using cash during the pandemic — and now — even post-pandemic, many businesses are required to accept payments online in advance. Additionally, money online in advance might stop income loss brought on by last-minute cancellations.

    Calendar sync is essential to make your life easier. No one enjoys entering data twice. As a result, the system ought to display appointments, shop closings, holidays, and vacations on both sides of the program. Make sure your consumers can schedule appointments from a variety of places. Through a link or your Facebook page, perhaps. All apps should offer a variety of options for scheduling needs.

    Equipment Scheduling: Depending on your workflow, you can prefer or require a piece of specific equipment. Therefore, pick an appointment scheduling program that works with the iPad, desktop, and mobile app of your choice. When you can work on multiple devices, you will quickly get work done while playing the waiting-in-line game (at the store, in the car, etc.).

    1. SetMore

    The scheduling tool from SetMore is wonderful in that it doesn’t require any technical expertise to use. That doesn’t imply that it lacks strength.

    Advantages of SetMore

    Easy to use this application. As a result, His wizard makes sure you don’t miss a step, and His uncomplicated layout makes navigation simple. You can still view your appointments when offline, thanks to the desktop application. This feature is unique to this supplier.

    On websites created with website builders, CRMs, or newsletter services (Mailchimp and Constant Contact), the system might display your booking service.

    Cons

    SMS reminders are absent from the free plan. However, email messages should suffice.

    While the technology allows for the customization of booking data, SetMore-hosted booking landing page customization is not possible.

    Utilizing SetMore

    SetMore is a fantastic, generous free provider. Because of this, this booking tool offers practically everything you could possibly need, and the ability to use it on your desktop while offline may appeal to some. SetMore accepts Square payments and is accessible for 1-4 employee logins and calendars, as well as unlimited reservations.

    For $12 per month, you can add two user accounts, SMS reminders for your clients, and two-way calendar syncing.

    Check out SetMore here.

    SimplyBook.me

    Since 2008, SimplyBook.me has been operational. As a result, among the numerous features that make it one of the best scheduling tools are membership options and a website builder.

    How does SimplyBook.me work?

    It offers affordable and generous plans. A good selection of fully responsive booking website layouts are available in the free plan. It is simple to assemble and offers a variety of design options!

    Recurring membership payments operate with Stripe everywhere except in the EU, so you may reward your clients with savings and lowered recurring costs by using SimplyBook.me’s membership option.

    Utilize SMTP email customization to integrate with transactional providers like Mailjet or Sendgrid.

    Cons

    If you don’t care about the bells and whistles, the UI could be intimidating. However, most of you will most likely select the free or Basic plan, in which case you can only activate one or three distinctive features.

    Utilize SimplyBook.me.

    The appealing solution for a necessary booking website is simplybook.me.com. It was also reasonably priced.

    Booking.me Price

    Thirty days of free service with one special feature (like payment processing) and automated reminders. Ninety-nine appointments and a system for $9.90 per month.

    Test out SimplyBook.me

    3. Calendly-based planning

    Atlanta-based Calendly is a well-liked scheduling application for startups. It has a simple user interface and supports an infinite number of appointments.

    Calendly Advantages

    However, customers may make reservations directly from your website because it integrates with Google, Outlook, Office 365, and iCloud. Automated event warnings are included in even the cheap package, lowering no-show rates.

    The automatic operations are important and will help you save a lot of time as a result. You may design your method if it isn’t included in the templates.

    Cons

    SMS alerts and direct links to email marketing and payment processing systems are only available with the Pro ($15) subscription. This implies that the free app cannot be used to receive money. SetMore, however, does. I would advise you to use these Calendly solutions if you have multiple users and want to avoid spending more.

    Why utilize Calendly?

    Consequently, if you want a cheap choice with limitless appointments.

    Contingent Rates

    Basic: One free user. One year.

    Premium: $10 per user each month

    Calendly 2 User

    Pro: $15 per user each month

    Check out Calendly

    MeetFox

    Let’s look at MeetFox’s strengths and see if it’s the best scheduling solution for you.

    Benefits of MeetFox

    The free MeetFox plan allows processing payments and unrestricted meetings.

    Only SMS reminders, video conversations made with the included software, and the addition of their logo are permitted for paying users.

    You can utilize a pop-up widget or button or incorporate a unique booking page into your website. A WordPress plugin is available for MeetFox users’ convenience.

    To prevent you from feeling overwhelmed or confused, the interface is well-designed, and the system guides you through the operations in an easy-to-follow manner. Additionally, if needed, the application may generate bills for independent contractors automatically.

    Cons

    On payments handled using the app, the free plan levies a 5% transaction fee (paid plans don’t). As a result, there are fewer bugs. Additionally, there isn’t a desktop or mobile app for MeetFox.

    MeetFox can be used by any business to schedule meetings. Experts highly recommend this software for scheduling appointments because it offers a generous free plan and a great user experience.

    MeetFox Pricing

    As a result, the bundle includes payment processing and limitless meetings.

    A pro account with SMS reminders, video calling, and customization is $15 per user each month.

    Lastly, a Premium account upgrade that includes domain personalization, group calling, and multi-party booking costs $42.

    Take a look at MeetFox here.

    These are just a few examples of apps that have worked for me.

    Image Credit: Photo by Eumorfia Panera; Pexels; Thank you!

    The post Business Scheduling Apps: Great Booking App appeared first on Calendar.

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    Matt Rowe

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  • Preparing Your Team for a Productive Summer | Entrepreneur

    Preparing Your Team for a Productive Summer | Entrepreneur

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    Summer is a busy time of year. School is out for kids, and the warm weather makes it much more inviting to get out of the house. For these reasons and many others, businesses call the summer months the busiest time of year, with a few exceptions being made around Christmas time.

    Business owners and managers have a lot to prepare for as the midpoint of the calendar approaches. More products need to be prepared, marketing campaigns need to be dropped, and store hours might even need to be shifted. The more preparation that can be done, the more potential the summer season has of being a success.

    Your team is an integral part of your business and directly correlates with how your business performs. This article will offer some ideas to help you get your team ready for summer and ways your team can help make final preparations:

    Review Your Operations for Efficiency

    Your system might be running on all cylinders right now, but summertime is entirely different. If you’re anticipating your business to be a lot busier in the coming months, your operations could use a tune-up just to be safe.

    Make a checklist that includes every aspect of your daily business operations. Take a look at payroll, shift changes, supply chain, and anything else that you can see potentially hitting a snag. Work out any kinks you find now before they really start to cause problems.

    Once you improve your efficiency, the summer season will be a lot easier to deal with. Better yet, you’ll have an improved system that will be helpful throughout the entirety of the year. You should always be on the lookout for ways to improve your efficiency.

    Get Your Onboarding Started Early

    Some companies look at hiring new employees or temporary help to deal with summer craziness. This shouldn’t be done in the middle of July. Start your onboarding too late in the season, and you’ll be juggling the chaos of increased customer inflow while simultaneously trying to provide quality training.

    Give new employees at least a couple of weeks to get acclimated before throwing them into the mix. Allow them to get familiar with company policies, product locations, on-site technical equipment, or anything else they’ll be expected to know without supervision. This way, they can actually be of use during the busy summer instead of another variable to monitor.

    In addition to your onboarding, existing employees could use some additional training as well. Make sure they’re all up to speed on any changes you want to make or difficulties you expect to encounter. The better you equip your team, the more successful your summer will be.

    Clean and Organize Now

    Another thing you should do before summer arrives is to get on top of your housekeeping. Take advantage of all the time you have now to complete that pile of menial tasks that you’ve put off for some time. While they might not seem major now, they will be incredibly annoying to deal with during the peak of the summer busy season.

    Let’s say your filing system hasn’t been organized in a while. You might be getting on fine right now, but what about when you’re trying to sign up dozens of new customers lining out the door for a summer deal? You’ll be kicking yourself for not getting this done sooner.

    This endeavor includes some old-fashioned spring cleaning. During the summer rush, finding the time to sweep the floors and tidy up the waiting room will be much more difficult. A good deep clean will make it so those cleanings don’t have to be so frequent, so these spaces can last until you can catch your breath.

    Schedule Far in Advance

    While summer is a busy time for businesses, it’s also a busy time for families for different reasons. Many people schedule their vacations, family reunions, and other activities for this time of year. You’ll have employees asking for time off because of this, which can cause some commotion. In most cases, you’ll be better off by trying to schedule things like employee time off as far in advance as possible.

    Most major trips and events aren’t planned at the last second. Your team should have a general idea of what dates they need to take off. Talk with them all individually so the work schedule can be established as early as possible. This way, you won’t have to worry about being short-staffed on critical days of the season or feeling like you have to deny certain requests to make

    There are other things you can schedule in advance. If you plan on holding meetings, get the dates set as soon as you can. Fitting in a last-minute meeting can be a major headache with everything else you have going on during the summer.

    Find a Way to Compromise

    You will be fielding many employee requests, not just asking for time off. You could spend all of your time arguing over the details with them, or you could take a step back and listen to their plights. Being able to compromise is an important skill for a leader, and it can navigate you through a lot of otherwise tricky situations.

    Let’s talk about remote work for a moment. You may not have considered this option before for your business. Perhaps one of your employees suggests working from home over the summer so they can get work done while taking an extended summer vacation. Who responds to a request like this or a variation that you’ve never encountered before?

    Instead of immediately dismissing the idea, consider the benefits of such a move. This employee might work from a desk and can easily take their work on the road. Do a test run with them, and you might see the same amount of productivity and production from them even when they’re away from the office.

    Add Some Incentives

    To be brutally honest, staying motivated during the busy season is difficult. Working hours feel longer and more exhausting and lost motivation leads to a severe drop in productivity. During this period, you’ll likely need to give your team a morale boost.

    Try setting up some incentives for your team members. These could be sales goals, incentives for clocking in on time, or even a raffle weighted by hours worked per week. This gives your team something to work toward when there’s no apparent light at the end of the tunnel. They’ll be more willing to take that extra call, fill that extra order, or pick up that vacant shift.

    Make sure you include everyone in your organization. Group incentives are useful for keeping everyone engaged, not just a select few. The promise of a future company event full of food and prizes is enough to put a pep into any team’s step. Don’t be afraid to be extra generous, too, after all of their hard work.

    Summer won’t be easy, but it can be a productive and beneficial time of year for your business. Start preparing with your team now to take on the busy season head-on so that you can learn and grow rather than sit back on your heels.

    Featured Image Credit: Photo by Markus Spiske; Pexels; Thank you!

    The post Preparing Your Team for a Productive Summer appeared first on Calendar.

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    Howie Jones

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  • How Will We Know When Artificial Intelligence Has Become Sentient? | Entrepreneur

    How Will We Know When Artificial Intelligence Has Become Sentient? | Entrepreneur

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    Artificial intelligence research has accelerated in recent years, and people are interacting with AI more frequently. In-home AI assistants and self-driving cars were once things out of science fiction but are now becoming a reality.

    Some researchers and activists wonder if AI is nearing the point of sentience, the ability to think and feel on the same level as humans. Some worry that sentient AI could overtake humanity, while others are concerned about subjugating an intelligent life form to do our bidding.

    So, how will we know whether an AI has become sentient? We’ll break down the history of AI, where AI research is now, and how, or even if, we can determine if AI has crossed the border into sentience.

    Key Takeaways

    • Artificial intelligence research began in the mid-1950s with the search for artificial general intelligence
    • Today, a large part of AI research focuses on specific tasks rather than general intelligence
    • Given our current understanding of consciousness, determining if an AI is sentient may be all but impossible

    A Brief History Of Artificial Intelligence

    Artificial intelligence has a long history, with early formulations in stories told millennia ago. Greek mythology speaks of Talos, a giant bronze statue that guarded the island of Crete and circled the island’s shores three times a day. Though the Greeks obviously wouldn’t have described Talos using the language we have to describe AI today, it’s fascinating how long humans have thought about the line between man and machine.

    However, only recently has AI become something humans can study and develop. Many experts point to 1956 as the year when AI research officially started. The Dartmouth Summer Research Project on Artificial Intelligence occurred that year.

    Over its eight-week span, approximately twenty attendees met and worked together to discuss and envision programs that could demonstrate learning capabilities. The Dartmouth Summer Research Project is often marked as an initial jumping-off point for modern developments in AI, even if the eight-week event acted more as a brainstorming session. Programs created in the subsequent years learned strategies for checkers, how to speak English, and how to solve word problems.

    The U.S. Department of Defense began funding AI research heavily in the 1960s. Some researchers, such as Herbert A. Simon, claimed that within twenty years, AI could do any work a human could do. However, this prediction did not bear fruit, mainly due to the limitations of computer storage, and funding dwindled in the mid-1970s. Research funding returned in the 1980s but crashed again in the latter half of the decade.

    The 1990s saw a second resurgence of research, this time focused on more specialized and focused AI designed to solve specific problems. This allowed researchers to demonstrate success more easily as their AIs achieved tangible results in the fields of economics and statistics.

    The increasing speed of computers, combined with the Internet and access to big data, allowed for further advances in machine learning by the early 2010s. By 2015, Google was using AI in more than 2,700 projects.

    The Current Landscape

    Today, AI research looks pretty different than it did in its early years. Early research often focused on artificial general intelligence. People imagine this type of AI as human-like, capable of learning any task a human can. If you read or watch science fiction media, this type of AI tends to be featured.

    Instead, many of today’s AI researchers focus on producing artificial intelligence to accomplish specific tasks. For example, deep learning is a form of machine learning that relies on large quantities of data and can imitate how humans gain knowledge. People and businesses can use deep learning for purposes like speech or image recognition, recommendation systems, creating art, advertising, investing, fraud detection, and more.

    Artificial general intelligence research is now frequently treated as a separate topic from AI designed for specific tasks.

    Current AI Products

    If you’ve been near a TV in the last few months, you’ve probably heard of Open AI’s ChatGPT. This chatbot can take questions you ask and give you direct responses. This is a more streamlined approach to searching for information online, as the chatbot gives you an answer right away rather than a list of websites that might give you conflicting information.

    OpenAI has not yet developed ChatGPT enough to replace journalists and people who write for a living. However, the technology has enormous potential and will fundamentally alter many disparate fields.

    You may have seen many people using another AI product last year called Lensa. Users could upload photos to the Lensa app and – for a fee – receive slightly touched-up, animated pictures of themselves to use as a profile picture for Instagram or Twitter. Though this is a pretty vain use for AI, it shows how ubiquitous it’s becoming.

    There are also many companies using AI for much more practical purposes. Retailers can use AI to learn where their supply chain is weak or demand is low and adjust accordingly. Insurance companies can use AI to identify cases at risk of escalation and offer potential solutions to avoid further conflict. Customer service jobs may be replaced over time by AI bots.

    Some automated investing platforms have started harnessing the power of AI to streamline investing for their users. With some apps, you can put money into a portfolio and have an AI move your investments around to maximize profits and defend against downturns. This is especially useful since keeping track of the news to decide what to invest in can be time-consuming.

    The Limits Of Intelligence Testing And The Turing Test

    One of the big problems with knowing when artificial general intelligence has gained sentience is that intelligence testing is incredibly limited.

    In 1948, English mathematician, computer scientist, and philosopher Alan Turing proposed the Turing test. This is a rudimentary method of determining whether an AI is intelligent.
    The test requires two humans and one AI. One human, the interviewer, holds a conversation with two subjects, one human and one AI. If the interviewer cannot determine which is human and which is AI, meaning the AI consistently fools the interviewer into believing it is human, then the AI is intelligent.

    Most experts today agree that this test is ineffective at determining machine intelligence.

    Another proposed method of gauging sentience is a General Language Understanding Evaluation (GLUE). The GLUE is like the SATs for AI, asking programs to answer English-language questions based on datasets of varying sizes.

    However, even the GLUE benchmark and similar tests have limits. Many would argue that animals like cats and dogs can think and feel, the basic requirements for sentience. However, how many pet dogs could manage to pass a multiple-choice exam?

    Also, with new developments like ChatGPT demonstrating natural language processing (NLP) capabilities, it’s clear that some AI programs can process language. Still, most people would agree that it is not the same as achieving sentience.

    How Will We Know If An AI Is Sentient?

    Given the limitations of current tests for determining sentience, how will we ultimately know if a machine has gained the capability to both think and feel?

    The truth is, it will be difficult and may not be possible given our current understanding of consciousness. There is no consensus on accurately determining if an AI is conscious.

    Research on tests that can prove sentience, as well as the science of consciousness itself, continues. Future advances may provide us with answers we can use to define and test for sentience more definitively.

    Will AI ever be sentient?

    Another topic to consider is whether it is even possible for artificial intelligence to gain sentience. Sentient AI is a popular topic in science fiction, but could it ever become a reality?

    Experts have taken mixed positions on this topic. An ex-Google engineer, Blake Lemoine, claimed that AI had already achieved sentience through the Language Model for Dialogue Applications (LaMDA) chat program. In a conversation with the program, Lemoine claimed the program felt sadness after reading Les Misérables and feared death.

    Google argued these claims were wholly unfounded and fired Lemoine last year.

    On the other hand, Associate Professor John Basl of Northeastern University’s College of Social Sciences and Humanities, who researches the ethics of emerging technology, believes, “Reactions like “We have created sentient AI’, are extremely overblown.”

    In an article for Northeastern, Basl elaborates that he expects that if an AI ever gains sentience, it would only be minimally conscious. It might be aware of what is happening and have basic positive or negative feelings, similar to a dog who “doesn’t prefer the world to be one way rather than the other in any deep sense, but clearly prefers her biscuits to kibble.”

    Researchers who believe in the possibility of AI sentience also debate whether pursuing it is a good idea. It’s not difficult to find people speculating about different worst-case scenarios in which nefarious actors produce millions or billions of bots to push destructive political agendas on us. Anyone who has seen The Matrix is familiar with media in which AI-enhanced machines turn on humans and ultimately replace us as the dominant life form.

    Whether or not that’s nonsense or a potential future reality remains to be seen. Technology has evolved a lot in the last decade, and it’s difficult to say where it will be in the next.

    The Bottom Line

    Artificial intelligence is an exciting field that humans have been interested in, in one form or another, since antiquity. However, it has only become a field that people interact with daily in the past few decades.

    Though there are many questions surrounding the field, there’s no hiding the fact that AI can accomplish many complicated tasks. Plenty of companies, from insurance providers to retailers, have started using AI to optimize their work.

    The post How Will We Know When Artificial Intelligence Has Become Sentient? appeared first on Due.

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    Eric Rosenberg

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  • How You Can Use Your Calendar to Save Money | Entrepreneur

    How You Can Use Your Calendar to Save Money | Entrepreneur

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    When it comes to saving money, some approaches have years of proven success behind them. Meticulously tracking expenses and income is tried and true. Prioritizing pinching pennies and intentional spending is known to work. Coupons and buying discounted products are great options, too. But what about new-age approaches to saving money?

    One you might not think of immediately is putting your calendar to work for you. Printed or digital, super detailed or extremely high-level, calendars come in all shapes and sizes. They provide flexibility in format, organization style, and more. Regardless of which calendar type you prefer, you can use different strategies to help your wallet. Here are a few to consider incorporating into your routine.

    1. Document Your Savings Opportunities

    Annual sales, discount events, and coupon expiration dates are all worthwhile to keep track of in your notes on your phone or computer. While effort is required to make a note of every chance to save, it can make a difference in your budget. As soon as you’re aware of a sale or savings event, add it to your calendar. Even a simple, half-complete note is better than nothing. This type of approach can save you time (and money) because taking action immediately makes you less likely to forget.

    Remember, too, that you don’t have to take advantage of each opportunity to save. If you’ve added something that you thought you might be interested in only to find yourself no longer caring, that’s okay! It’s better to ignore a discount event than spend aimlessly. At least you made an effort and could take advantage of savings if you felt so inclined.

    Keep gifts in mind, too. Maybe you don’t care about a beauty store’s sale — but a friend or loved one does. Including those on your calendar can save you money in the long run and up your gift-giving game. The same method of immediate action applies here, too. Once you hear of a sale that could save you on an upcoming gift, add it to your calendar.

    2. Highlight Yard and Estate Sales

    Shopping second-hand doesn’t have to mean heading to a thrift store. Many yard and estate sales happen every weekend, offering shoppers access to unique, discounted items. Keeping track of them on your calendar can make sure you are reminded when and where they’re happening.

    Following social media groups for yard and estate sales can aid in this process, too. They do the work for you and may even specify what each sale focuses on — clothing or furniture, for example. That can help with narrowing down your options and attending the sales of most interest to you.

    Consider making your “sleuthing” for great finds, a social event with someone really good at these types of sales. If your friends like to shop and are down to hunt for great pieces — especially unique items — sales are a great activity. Plus, you’ll be able to get more for your money and hopefully leave with some one-of-a-kind pieces. You may even find something you’ve had on your wishlist that becomes a forever-cherished item. And all of this is a possibility because you threw it on your calendar.

    3. Mark Recurring Expenses

    Many bills are due on the same day each month. While that can make remembering to pay them easier, it doesn’t mean you’re immune from forgetting. Life is hectic, so it’s only natural to have commitments like bills sometimes slip through the cracks. That’s where your calendar comes in.

    Diligently make a note of every recurring expense you have. Streaming services, mortgage or rent payments, credit card statements, and anything else recurring. Even better if you enable a color code for payment due dates on your calendar; luckily, this works for every calendar type and makes due dates easy to identify at a glance. If you use digital calendars, you can enable notifications for another helpful reminder.

    Don’t forget about autopay, either. Despite being a fantastically convenient feature many companies offer, it can lead to wasting money. People often pay for products or services they don’t even know they’re signed up for. In fact, a recent study shows people spend an average of $133 each month just on forgotten subscriptions alone. Instead, track each automatic charge and consider whether it’s worthwhile to continue. Something you use daily is a no-brainer, but if you forget you even subscribed, it’s time to cancel and move on.

    4. Know When You Get Paid

    Many people track expenses because money is leaving their accounts. Tracking is a great habit to establish because it helps you understand where your money goes. However, also knowing when you get paid and where those funds are allocated can be important for financial success. This is even more valuable if you have multiple income streams, like your side hustles and freelance gigs.

    Keep track of all payments in a calendar — you can even color code it to notate an influx of money versus an expense. From there, it’s much easier to understand your spending habits and ensure what’s coming in is greater than what’s going out. If it’s not, adjust your spending to find the right balance for you.

    If you share finances with a partner, this approach to your calendar is even more important. One person may be paid biweekly, and the other could be weekly. While that likely won’t drastically change your financial approach, you want to ensure to align incoming payments with expenses. Take a look at recurring, fixed expenses, and always have at least that in an account to avoid overdraft fees. Ultimately, this relatively small effort makes budgeting and saving that much more second nature.

    5. Do a Spend-Tracking Challenge

    When you’re trying to save more money, there’s really no wrong or right way of going about it. The main obstacle is to find out what works for you. If you want a fun, interactive idea, consider making yourself a no-spend challenge. Or simply create a gamified reduced spending approach, whatever best fits your lifestyle.

    These challenges are customizable, and the rules can fit your lifestyle while helping you save. You can choose to only buy necessities — like groceries and gas — for a set period of time. Or opt to have days each week where you spend zero dollars. Use your calendar to track your progress, assigning a color to mark success and another for missing the mark. While there will likely be slip-ups and expenses that come up, these challenges can make a big difference.

    Then, at the end of your challenge, you can evaluate how you did by reviewing your calendar. Try to find common threads on both successful and unsuccessful days. You’ll learn a lot about your spending habits and be able to easily look back on the challenge, whenever you like. The best part is that when the challenge is over, you’ll have more insight into your spending habits. From there, it will likely be easier to control impulse purchases and prioritize your money.

    When in Doubt, Calendar it Out

    Completing all of these approaches may feel like a lot from the start. Instead of tackling everything, try incorporating one or two into your calendar approach. See how those work for you — noticing if you’re more money-conscious or avoid late fees — and go from there. You may no longer need certain monthly notes and can add or remove habits as you see fit.

    The beauty of inking financial obligations and opportunities to your calendar is the chance to maximize its use. Not only are you tracking vacations, dinner plans, and birthdays, but you can also save money in the process. And once you find an approach that works, it just requires sticking to it. From there, you simply reap the benefits.

    Featured Image Credit: Photo by Ivan Bertolazzi; Pexels; Thank you!

    The post How You Can Use Your Calendar to Save Money appeared first on Calendar.

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    Angela Ruth

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  • The Golden Rules Of Nonprofit Partnerships | Entrepreneur

    The Golden Rules Of Nonprofit Partnerships | Entrepreneur

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    One of the biggest positives of getting a company up and running is the ability to give back. Your ability to fund local, national, and global causes can pay off in myriad ways. But it’s essential that before you write your first check that you do a little behind-the-scenes work. The last thing you want is to make an avoidable misstep in setting up your corporate philanthropy efforts.

    What types of mistakes are common, especially when businesses partner with nonprofits? One big challenge is a disconnect between what each party wants or expects. Another is the inability to work together toward a shared goal. And it’s never good to be so overly generous that you can’t deliver what you promise, placing your company’s bottom line in jeopardy.

    The good news is that it doesn’t have to be hard to build relationships with nonprofits. All you have to do is follow what can best be described as the “golden rules” of these types of partnerships. When you do, you’ll reap the benefits. These include everything from better brand recognition to higher employee satisfaction scores, particularly when you get employee buy-in. Here are six Golden Rules that should guide your nonprofit partnerships.

    Golden Rule #1: Choose a partner whose values align with your company’s.

    There are roughly 18 million nonprofits in the United States. With those numbers, you should be able to find a match that shares your business’s mission and values.

    Molly MacDonald is the Founder of the Pink Fund, a charity offering 90-day grants to cover non-medical funds for qualifying breast cancer patients. In her experience, choosing a nonprofit in sync with your vision and purpose is essential.

    “There should be an attraction to their mission, company culture, voice, branding,” explains MacDonald. “If the company is genuinely excited by the partnership instead of just checking a box, it will yield a much more successful partnership.” She adds that this type of true connection tends to appeal to consumers in search of authenticity from their preferred brands.

    If you’re still confused as to which charity to support even after conducting due diligence, conduct a survey, ask your employees for suggestions. Or, if you like, give them a list of possibilities and let them choose. This is the first step to getting their buy-in.

    Golden Rule #2: Make your partnership visible.

    It’s great to support a nonprofit. But you’re not obligated to hide your relationship. In fact, most companies like to highlight the good deeds they do. A great example of this is TOMS Shoes.

    Not a TOMS aficionado? TOMS donates one pair of shoes every time the company sells a pair. It’s a great swap and makes a lot of sense. This humanitarian arrangement has been going strong for more than a decade. And TOMS isn’t shy about leveraging its broader impact as a key differentiator.

    You don’t have to feel like you’re being disingenuous by talking about your charitable partnerships. On the contrary, you should openly discuss them on your website, your blog, your social media pages — you name it.

    Over time, you’ll be associated and intertwined with the nonprofit. This is good for both of your brands, as well as the people you each serve. Circling back to TOMS, think about how rewarding it is for customers to know they didn’t just buy footwear. They also bought footwear for kids who might not have any. That’s a powerful reason to keep buying from TOMS in the future.

    Golden Rule #3: Get solid financial advice from a corporate tax professional.

    When it comes to getting the most out of your partnership, you need to think about the tax ramifications. The less you have to pay in taxes each year, the more you can conceivably share. For instance, you might be able to give your employees a special year-end bonus all thanks to your corporate philanthropy measures.

    Unless you have a CFO who understands tax law inside and outside, hire a professional before entering any agreements. You need to know not just how much you can spend but what your limits should be. Having a realistic knowledge of how your donations will affect your taxes will give you peace of mind.

    Don’t forget to ask your tax advisor about matching your employees’ donations. Let’s say you support a specific charity as well as give your workers the chance to do likewise in paychecks. By making a match up to a certain percentage, can you achieve even higher tax breaks?

    No leader wants to pay Uncle Sam more than is absolutely necessary. By knowing your fiscal parameters, you can set up a financially and philanthropically successful partnership.

    Golden Rule #4: Put everything in writing.

    Word-of-mouth contracts can go south. The problem usually comes down to interpretation. To avoid this conundrum, always insist on having your contractual partnership spelled out in a legally binding agreement.

    What belongs in your written contract in your nonprofit partnership? There’s really nothing set in stone. Just make sure that all the bases are covered so no one’s left surprised — and no balls are dropped. Pink Fund Founder, Molly MacDonald says that the New York State Attorney General has some best practices guidelines that has helped them when working with corporate partners

    Be advised that this will (and should) take some time. Your job isn’t to hurry along the process. Instead, concentrate on crossing all the “Ts”. A good place to begin is to begin walking through the flow of your journey forward as a team. What does that journey look like? Who’s responsible for each element of the journey? Tackling these broad-based questions early will remove any stumbling blocks.

    Although you can hammer out a formal partnership without a lawyer, don’t dismiss the power of having a lawyer review it. Paying upfront for someone’s expertise could save you a lot of headaches in the long run. Plus, if either you or the nonprofit breaches your contract, you’ll have everything in writing.

    Golden Rule #5: Start small to leave room for growth.

    Maybe you read about IKEA’s recent partnership with a whole city in Sweden. Though you were inspired, you were equally awed — and worried that you couldn’t possibly do likewise. Relax: Your first nonprofit partnership doesn’t have to be extraordinary or huge to make a difference. Quite honestly, when you’re testing this type of arrangement, you should probably go small rather than go IKEA-big.

    One method of starting a little at a time is to find a way to volunteer for or with the charity. If it’s local, like a food bank, you might pay your employees to help out for a day. If it’s global, you might consider funding a special event or making a one-time donation.

    As you get to know the other nonprofit and its needs, you can strive for a more involved partnership. However, taking a conservative route is logical. After all, you might discover that the charity is harder to work with than you assumed. In that case, it would be better to know before you get in too deep.

    Don’t be afraid to plant these small seeds across a number of charities, just to see which ones “stick”. You’ll probably start to get a good sense of which ones are putting you in the best light with employees or customers. Two-thirds of workers are attracted to purpose-driven employers and 55% would work for one even if the salary was lower. When you support charities your team approves of, they’ll let you know.

    Golden Rule #6: Set metrics to monitor your progress.

    It’s always a smart idea to measure all your campaigns and initiatives. Yet it can be a bit of a head-scratcher to decide how to measure your nonprofit relationships. Ultimately, you’ll need to pin down some metrics, though, or you’ll have trouble knowing if you’re making inroads.

    What are some metrics you could apply when examining your partnership with a charity? You might want to track any business that came to you through your charity-focused marketing. As long as you have analytics in place, you can connect the dots between website visitors and sales. For instance, you might be able to figure out how many people watched your social giving blog and then made a purchase.

    Another business KPI that could work for you is employee hours spent volunteering. You might be able to weigh that figure against any industry standards, if they exist. Even if they don’t, your statistics could set a baseline to rise above from year to year.

    Just ensure that you consistently stay on top of any measurements you target. They’ll give you insights into how well your partnership is working. They may also give you more to discuss in your next (or inaugural!) corporate social responsibility (CSR) annual report.

    No one would argue that companies have a responsibility to do as much good as they can. And doing good starts by offering a helping hand in the form of strategic partnerships with nonprofits. By following some simple golden rules, you can set up all the stakeholders involved for success.

    The post The Golden Rules Of Nonprofit Partnerships appeared first on Due.

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    Peter Daisyme

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  • British Pound Sterling vs. U.S. Dollar: A Brief History | Entrepreneur

    British Pound Sterling vs. U.S. Dollar: A Brief History | Entrepreneur

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    Historically, the British pound sterling has been stronger than many other currencies, including the U.S. dollar. The pound’s value was double that of the U.S. dollar as recently as 2007. In late September 2022, one British pound fell to about $1.05. That marked the lowest price for the pound against the U.S. dollar in over 30 years. 

    While the pound has long been a strong currency, it has lost some of its strength over the years. It has recovered somewhat since hitting the aforementioned low point last September, but recent British policy decisions have left the pound’s future uncertain.

    Key Takeaways

    • Historically, the pound sterling has been strong against the dollar.
    • In recent years, the pound has weakened, and the dollar has strengthened.
    • The dollar may be nearing a reversal as investors look for cheaper assets elsewhere.

    British Pound Sterling: A Historically Strong Currency

    The pound is usually stronger than the U.S. dollar when making a 1:1 comparison. In other words, if you were to exchange one pound for U.S. currency, you would receive more than $1.00 USD. Of course, exchange rates constantly change, but the pound has been more powerful than most other currencies throughout history.

    However, exchange rates don’t tell the whole story. For example, the pound has weakened substantially versus the dollar in nominal terms. However, in real terms (which accounts for differences in inflation), the pound’s weakening against the dollar has been more modest.

    The result is that the pound’s purchasing power has declined, but less drastically than the nominal exchange rate might suggest.

    U.S. Dollar vs. British Pound Sterling Price History

    Nominal exchange rates may not tell the whole story, but the fact remains that the pound’s exchange rate against the U.S. dollar has changed significantly in the past 200-plus years. Let’s discuss a handful of the most significant changes we’ve seen in the exchange rate.

    Around the founding of the U.S. in 1776, one pound was worth about $5. For the next 100 years or so, the rate stayed roughly the same. However, it dropped to $3.62 per pound in the early 1800s due to the Napoleonic wars. It’s a running theme throughout history that war heavily influences currency values. 

    During the U.S. Civil War, the pound saw its highest-ever value against the dollar — the price was $10 to purchase a single pound. However, the spike was brief, and by about 1875, the rate was back to roughly $5 per pound.

    The World Wars and the Great Depression saw more volatility in the exchange rate. First, World War I and the abandonment of the gold standard weakened the pound, driving the rate down to $3.66 per dollar. It rebounded to $5 after the war, then dropped to about $3.25 during World War II.

    Since World War II, the pound has generally weakened against the dollar. Today, one pound costs just over one dollar.

    The Gold Standard’s History

    A quick tangent in the pound sterling’s history, the United Kingdom’s use of the gold standard has a unique and exciting history for anyone interested in economics. The gold standard is a way of managing currency in which a country ties its currency’s value with gold, buying and selling the commodity at a fixed price.

    This way of managing currency may be difficult for modern Americans to understand. The gold standard differs from today’s fiat currencies in that people and companies can freely convert paper money into a certain amount of gold. In other words, gold backs the value of a country’s money. 

    A fiat currency’s value is not tied to a physical commodity but fluctuates freely on foreign markets. Fiat currencies have value because the government decrees they have value. 

    England was the first country to adopt the gold standard in 1821. The country had discovered significant amounts of gold through foreign production and global trade. Governments at the time stockpiled gold to engage in trade with each other, and by the 20th century, a majority of developed nations were using the gold standard. 

    Challenges with the Gold Standard

    This changed with World War I and accelerated worldwide growth. In challenging political conditions, it became clear the gold standard needed to be more flexible. The gold supply couldn’t keep up with global growth, and governments started holding the pound sterling and U.S. dollar as reserve currencies. Gold holdings began pooling among a few powerful nations. 

    The gold standard presents an enticing alternative to fiat currency. For one, the gold standard protects countries from inflation, as governments and banks can’t manipulate the money supply since it’s tied to a physical commodity. However, the politically trying events of the 20th century exposed weaknesses in the gold standard, including inflexibility and inherent supply limitations. No country uses the gold standard today. 

    Growing Strength for the United States Dollar

    Current events have seen the U.S. dollar strengthen against other world currencies; the pound has simultaneously weakened due to internal struggles.

    The U.S. dollar has strengthened compared to other currencies for many reasons, such as lower interest rates and being less reliant on energy imports from Russia. These factors, among others, have led to higher growth rates in the U.S. and a stronger dollar.

    The pound has recently weakened due to some of the U.K.’s policies. For example, Brexit has complicated the U.K.’s trade relationships. The country’s decision to leave the European Union undermined many other countries’ trust in the British economy, decreasing the pound’s value.

    In addition, political moves from last year, such as former Prime Minister Liz Truss’s push for tax cuts, have caused a selloff of British government bonds. Collectively, these factors have led to a weakening of the pound.

    Inflation and interest rates 

    A country’s level of inflation and interest rates both impact exchange rates. Countries with low inflation levels tend to see their currency increase in value. Purchasing power rises relative to other currencies, as opposed to countries with high inflation rates which see their purchasing power depreciate. 

    Higher interest rates translate to higher returns for lenders. This attracts foreign investment, driving up a currency’s exchange rate. Because interest rates tend to increase when a government tries to manage high inflation, it’s not always the case that high interest rates will translate to a push in a currency’s value. Many factors influence exchange rates beyond these two.  

    What a Strong Dollar Means for Investors

    A strong dollar might sound good but may have undesirable consequences for investors. For instance, a strong dollar makes imports less expensive and exports more expensive. The same is true for assets, which may lead foreign investors to look for places where their investment dollars go further.

    Cheaper imports are usually good for consumers as they allow companies to buy foreign-manufactured supplies more cheaply, which can drive down prices. However, cheaper imports can negatively impact the domestic sales of U.S.-based producers. 

    Over the last year, the Federal Reserve has increased its target interest rate, which relates to the dollar’s strength. These moves raise interest rates throughout the economy, increasing the dollar’s strength even more.

    But a stronger dollar also leads to a higher cost of capital, which can eventually result in lower investment, earnings, and valuations for U.S. companies. As investors look for cheaper assets elsewhere, the dollar may weaken against other currencies.

    Benefits of a strong dollar

    A group of people that benefit from a strong dollar are Americans traveling overseas. A strong dollar increases buying power, meaning your American dollar can buy you more in whatever country you visit. Consumers can benefit from a strong dollar because of cheaper imports. 

    Companies that import raw materials from foreign countries can do so more cheaply.

    The groups most hurt by a strong dollar are arguably domestic companies with large foreign markets. If you manufacture jackets in the U.S., but your largest market is Europe, a strong dollar will make your product more expensive to European consumers, lowering demand overseas. 

    Also, if you’re an investor in a company like McDonald’s, which does a significant portion of its business overseas, don’t be surprised if a strong dollar negatively impacts your portfolio. 

    Crisis Averted (For Now)

    After hitting a low point in September last year, the pound sterling has slightly recovered in recent months. At the time of publishing, one British pound sterling is trading for roughly $1.25. Though a modest recovery in most experts’ eyes, many are hopeful the pound will continue to rise in value throughout 2023. 

    Financial analysts will look to the U.K.’s external financing needs and the British housing market’s performance to predict the pound’s future value. 

    The Bottom Line

    Throughout history, the pound has been one of the strongest currencies, at least in nominal exchange rates. Over most of the past 200 years, the pound’s price has been about $5. For a brief period, during the American Civil War, you could trade one pound sterling for a high of $10. Currently, the pound’s value is closer to $1.25. 

    However, the dollar has strengthened against the pound recently, especially since the Great Recession. Factors such as Brexit and recent policy moves have been among the causes of this. While the dollar has seen a robust increase since the Great Recession, it may be near a tipping point, after which the dollar may weaken compared to other currencies.

    The post British Pound Sterling vs. U.S. Dollar: A Brief History appeared first on Due.

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    Eric Rosenberg

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  • 5 Reasons You Should Be Blocking Time for Focus | Entrepreneur

    5 Reasons You Should Be Blocking Time for Focus | Entrepreneur

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    Ever heard of the term ‘focus time?’ Microsoft defines it as “uninterrupted stretches of time in your day to get your most important work done.” In other words, it’s giving a task your undivided attention for a set length.

    However, using the focus time method doesn’t have to just apply to work. You can implement setting aside time to give yourself a break for the sake of your mental health. In today’s corporate society, this is an often-overlooked aspect of life. However, your mental health should be one of your top priorities.

    It’s easy to get stressed or overwhelmed with everything you have to do, whether it’s for work, school, or just life. This can be especially true if you have lots of deadlines coming up. It’s important that, in the middle of all this, you give yourself some mental space. Here are five reasons why you should use focus time to your advantage.

    1. To Give Your Brain a Rest

    Without having periods of rest, it’s nearly impossible to function. Think about it — there’s a reason everyone needs to sleep at night. Just like your body needs physical rest, your mind also needs mental rest.

    Set aside some time throughout the workday when you can shut off your brain temporarily. To remind yourself to do this, try scheduling it in your calendar. One way to do this is by utilizing a type of Pomodoro style of work and rest. The Pomodoro method involves a five-minute break for every 25 minutes of work. However, you can use the same basic technique for different periods of time.

    So what should you do during these breaks? Meditation is a great way to utilize a resting period, as it improves your focus and helps lessen stress. Another idea would be to practice deep breaths or recite words of affirmation. And drink water! So many people forget to hydrate throughout the day.

    Taking these moments to relax for a bit will help prevent you from feeling exhausted at the end of the day. Your job shouldn’t leave you always feeling drained. Regularly being tired, overwhelmed, and/or stressed can take its toll on your mental health.

    2. To Avoid Burnout

    It’s true there might be busy times in your life that are unavoidable, but it shouldn’t be that way constantly. Feeling overworked can be a serious issue if left unchecked. You can start to feel anxious, depressed, or experience a lack of motivation to work. In today’s terms, this is what’s called burnout.

    If you’ve been feeling more stressed lately, overwhelmed, or dread going to work, you might be experiencing burnout. It can happen to anyone, no matter what your line of work is. This is another situation when focusing on your mental health can help.

    Having time to rest and recharge can allow you to take a step back and survey how you’re really feeling. You can ask yourself, do I actually dislike my job, or am I overwhelmed? There’s a big difference between the two, but sometimes it can be hard to separate your feelings. If you’re stressed about work, you will likely associate negative connotations with it.

    Setting boundaries for yourself can be the first step to protecting your mental health. These can be simple, like ensuring you get off work on time. Working overtime just for the sake of finishing a project might seem like a good idea at the moment. However, unless the deadline is the end of the day, keep your working hours consistent. If your hours are nine to five, for example, respect those boundaries and log off at five o’clock.

    After work, set aside some time to unwind. Eat a tasty snack, watch an episode of your favorite show, and write in your journal. Whatever helps you de-stress and relax at the end of the day, do it! Having a moment to decompress will help you feel so much better in the long run.

    3. To Increase Productivity

    Have you ever tried to cram for a test the night before? If so, you’ll know that it doesn’t work out very well. You can feel overwhelmed by all the material, you’ll probably stay up too late, and your work might not be the best. Even if you do get a good grade, you’ll more than likely feel exhausted afterward.

    This is the effect that being regularly overworked can have on you. You’re not likely to create your best content because your head is abuzz. Your level of productivity will decline because it’s harder to focus when you’re stressed. And to make matters worse, you’ll be battling a lack of motivation on top of everything.

    By setting aside time for yourself, you can essentially recharge your batteries. With a refreshed mind, you can focus on your work better. That means you’re more likely to be productive and efficient.

    Giving yourself adequate space to decompress, therefore, improves your ability to be productive. If you’re having trouble staying on task or getting through your usual workload, consider taking breaks. Your mind will feel sharper, and you’ll have a moment to calm down and remind yourself you’re doing your best.

    4. To Give Your Eyes a Break

    Looking at a screen or reading for long periods of time can give you serious eye strain. Even with glasses or blue-light blockers, your eyes can still get overworked. This can lead to eye- or headaches, which are painful and can negatively impact your mood.

    It’s no secret that when you don’t feel well, you’re not as productive. If you’re battling a headache at work, you’ll naturally get less done by the end of the day. This is, of course, no fault of your own. However, taking breaks to prevent eye strain can help with this.

    Try setting aside some time every hour or so to turn away from your screen. Blink a few times to clear your eyes, then close them for a minute. Additionally, looking at something far away can help ease the strain caused by staring at an object up close, like a screen. It’s kind of like eye yoga.

    Giving your eyes time to ‘destress’ will overall assist with frequent headaches. Keeping them glued to a screen all day will only continue a pattern of migraines. So give your peepers a break, too.

    5. To Remind Yourself that Life Exists Outside of Work

    Depending on your job, it can be hard to establish that work/life balance everyone talks about. When you feel weighed down by assignments and deadlines, it might feel like there’s no time for balance. However, this is another reason to prioritize your mental health — because your life is about more than your job.

    Being dedicated to your line of work is a good character trait. But that doesn’t mean you need to become a slave to your career. This kind of attitude is unhealthy, especially for your sanity. Repeated late nights and long hours will wear you down.

    Without having a special time to unwind and relax, you’ll start to feel the effects of being overworked. You deserve better than that, so give yourself room to be a human and experience life. And with established boundaries between home and work, you’ll provide your mind space to thrive.

    Reclaim Your Life

    Overall, not allowing yourself time to get away from stress will keep you feeling anchored down. Break free of the chains by prioritizing your mental health. Focus on yourself by creating moments of downtime, and you’ll start to feel the positive effects.

    Featured Image Credit: Photo by Mauricio Mascaro; Pexels; Thank you!

    The post 5 Reasons You Should Be Blocking Time for Focus appeared first on Calendar.

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    Howie Jones

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  • Why Spring is the Perfect Time for Organizing | Entrepreneur

    Why Spring is the Perfect Time for Organizing | Entrepreneur

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    Organizing. What a difficult to do in the first place — and keep up with it all in the second. And if we talk about the third place — how can we get everything done when we work 10 hours or more a day? Organization can be tough to start but even harder to stop once you get in the groove of the work. Decluttering and organizing your space is such a good feeling. There are truly no limits to what you can accomplish when you get into a rhythm. If you’re looking for a sign to start organizing, this is it. Spring is upon us — and what better time? Everyone loves a good spring cleaning.

    With warmer days right around the corner and a new season upon us, the time to organize is now. Here are five reasons why spring is the perfect time to organize.

    1. Seasonal Changes Are Happening

    We transition seasons a few times throughout the year. Summer to fall, fall to winter, winter to spring, and then finally, spring to summer. Of them all, the transition from winter to spring is probably the most drastic. The change can oftentimes take longer than we’d like, but once the weather warms up, so much starts to change. Outdoor plants begin to bloom, there are more daylight hours, and most people experience a mood boost as well. When the weather changes, let that be your clue and cue to get started on tossing anything in your house that is a mess.

    Writing this piece made me crazy about cleaning out my house. Last Sunday, I cleaned out six drawers that had collected junk for a year. I took each one and dumped it out on my living room floor and threw as much junk away as possible. I also grabbed a giant black garbage bag of “stuff” around the place that I was sick of — and out it went. A good friend saw the bag and took it to Goodwill for me. I’m a new woman today because of that frantic dejunking episode.

    You don’t have to get frantic about your dejunking episodes — plan for and add the information on your Calendar and proceed in a manner that will help you most. Once the warm weather is here to stay for a while — springtime means time to pack away winter clothes. Use spring cleaning as an opportunity not just to unpack the spring and summer clothes but also to purge your closet.

    As you pack away winter clothes and get summer/spring clothes out of boxes, create piles; donate, sell, and keep. This will help you to pare down on things in your closet and create room only for what’s needed.

    Even if you purge your closet every year around this time, everyone can afford to do a little cleanup. Once you get rid of unwanted items, categorize the items you’re keeping. Completely re-doing the look of your closet is a great way to minimize clutter and discover space-saving hacks. The end result will be a closet that looks put together and feels brand new.

    2. It’s Almost Yard Sale Season

    Once you’ve cleaned out your closet, it’s time to organize the rest of your home. As you’re organizing, you’ll likely find a lot of items that need sorting through (and some that you want to get rid of). Instead of just tossing items around your home, organize a yard sale. Now is the perfect time for it since the weather is warming up.

    After a closet cleanout, it makes the most sense to tackle your bedroom next. Of the items from your closet in the ‘sell’ pile, determine which to put into your yard sale. Then, slowly find items in your bedroom and bathroom that are unused — think lamps, books, and accessories. Check cabinets and drawers to ensure you don’t miss anything. And don’t forget to organize those small spaces while you’re collecting yard sale items!

    Another great place to look for yard sale items is in your kitchen. Look for old appliances and dinnerware that you don’t use anymore. Also, look in the outdoor areas of your home if you have a garage with old bikes or a wagon, for example. Patio furniture can be a hot seller, too. Or perhaps you have some gardening tools that are no longer useful. You probably have so much to sell and don’t even realize it!

    Pro tip: Take advantage of sunny, warm days. Use the extra room outside of your home to spread out as you organize. Give items a deep clean and see your yard sale start to come to life!

    3. The Nice Weather Is Motivating

    Being able to spread out and utilize your outdoor space is a huge advantage of organizing in the springtime. But this isn’t the only reason why the warm weather is great. Warm weather can do wonders for your mental health and, therefore, make it easier to organize. About 90% of people get their vitamin D from sunlight, and there are numerous benefits to vitamin D consumption.

    People who have a vitamin D deficiency commonly experience fatigue and tiredness. With little energy, it can be difficult to take on big organizing projects. This is exactly what many people struggle with in the winter. The gloomy, cloudy days result in low energy levels. Sunlight can also improve sleep quality, helping you fall asleep early at night and wake well-rested in the AM.

    All in all, spring is a great time to utilize the sunnier, longer, and warmer days to organize. You’ll feel more energized and ready to accomplish big projects. Plus, the nice weather is always great for your mood! If you still have days where you feel overwhelmed this spring, don’t fret. You can make your day easier by creating routines and implementing time-saving hacks. This will make organizing easier, plus you might even have time to kick back and enjoy the nice weather.

    4. Cleaning Is Great For Your Health

    As crazy as it might sound, home organization is a great workout. It’s not just about cleaning and decluttering your space. Organizing is an excuse to get moving. And the more seriously you take it, the better workout you’ll get. By simply getting your steps in, lifting heavy objects, or doing strenuous activities like vacuuming, you’re getting moderate exercise.

    It is recommended that adults get 30 minutes of moderate-intensity exercise five times per week. In the springtime, this should be easy to achieve, considering all of the spring cleaning projects. With summer approaching, this should be a great motivator to start organizing. You’ll have a clean house, and you’ll get in shape — it’s killing two birds with one stone!

    Cleaning and organizing isn’t just a great low-impact workout; it’s also a great exercise for your mind. Mental health is just as important as physical health, and organizing can actually help with both. It reduces stress and improves cognitive health, both of which are great for brain function.

    5. Spring Feels Like a Fresh Start

    Spring cleaning isn’t just a made-up concept — there’s actually some psychology behind it. Several people follow a deep cleaning ritual and organize every spring for many reasons. One of the biggest reasons is due to the fresh start effect. Researchers have concluded that individuals feel more motivated and set to achieve their goals on meaningful calendar dates (i.e., the start of a new season, a birthday, or New Year’s Day).

    Combine this goal-setting mindset with the fact that the sun is shining, and you’ve got yourself a recipe for success. Spring is a time when your motivation is likely to be extremely high, so take advantage of it. A new season means an opportunity for everything to feel brand new. Turn over a new leaf and create an organized, clutter-free space.

    Pro tip: If you think that you’ll be super busy this spring, use a calendar app to stay on track. Everyone gets distracted and caught up in the busy aspects of day-to-day life. However, you shouldn’t let that get in the way of the burst of motivation that spring brings.

    Organizing in the springtime is already so common. There’s a reason why spring cleaning is such a well-known term. This time of year is perfect for de-cluttering and refreshing your space. And while organizing your entire home can be a big project to take on, you’ll feel so good after you do it. So, as spring quickly approaches, get ready to start organizing! You’ll be glad you did.

    Featured Image Credit: Photo by Jill Wellington; Pexels; Thank you!

    The post Why Spring is the Perfect Time for Organizing appeared first on Calendar.

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    Angela Ruth

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  • 6 Creative Ways to Make Grocery Shopping More Efficient | Entrepreneur

    6 Creative Ways to Make Grocery Shopping More Efficient | Entrepreneur

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    Grocery shopping is an essential part of adulting. Getting fast food for every meal is expensive, unhealthy, and unrealistic. For that reason — a regular trip to the grocery store is a regular habit for almost every single American family, regardless of demographic.

    Although it is a basic necessity, grocery shopping can be downright tedious at times. Parking lots get crowded, shopping carts are difficult to handle, and loading up endless bags of food from your car to your house is exhausting. As a necessity, grocery shopping shouldn’t have to feel like such a massive burden.

    Hundreds of years of commercial shopping have taught humanity a thing or two about how to shop. Here are a few outside-of-the-box ideas that can help you out with your own grocery shopping:

    1. Take Advantage of Grocery Pick-Up

    While most people will remember the days of Covid-19 as being difficult, dreary, and downright disappointing, a lot of innovation sprung out of this period of time. Businesses worldwide developed solutions that would make products and services accessible to consumers while keeping the risk of transmission low. One such innovation that really picked up during the early days of the Coronavirus is grocery pick-up options.

    Today, you can complete a digital shopping cart full of all the items you wish to purchase. You’ll pay when you check out online. Once the order has been processed, an employee will gather all of the items you have selected and place them in compact bins.

    When you create an order, you also select a pickup time. This is when your order will be ready for you. Simply drive to the designated location, and an employee will load all of the groceries into your car for you. All you have to do now is drive home and unload. Easy as pie!

    2. Get Your Food Delivered

    An option that is even easier than grocery pick-up is having your groceries delivered straight from the store to your home. Larger grocery chains have started building up a fleet of company vehicles that can quickly and safely transport a variety of goods straight to the consumer.

    The main difference here is that grocery delivery typically comes with some sort of service charge. After all, the company has to send a vehicle and an employee to drive to your specific address to make a delivery. That convenience is worth it for some, but simply picking up an assembled order will be at least a touch cheaper.

    If you only need a couple of items, you can look into more localized delivery options such as DoorDash and UberEats. Not only can you get a restaurant order to go, but some delivery services will pick up everything from hair products to over-the-counter medications if you don’t have the time to make a run to the store yourself.

    3. Download Helpful Applications

    Major grocery chains often have a downloadable smartphone application that can be of great service to you. These apps have search capabilities that can tell you exactly where items are located, what’s still in stock, and which products can or cannot be shipped to your home.

    If you really want to get into the weeds, you can use the app from your grocery store of choice to plan a shopping route throughout its aisles. By searching the location of each item on your shopping list, you can map out a path that takes you to everything you need without ever having to backtrack.

    Even if you don’t need to plan an exact route through the store, having the app pre-downloaded to your mobile device can be a good idea for many reasons. If you think of a last-minute item that wasn’t originally on your list, you can quickly search it up and find it in minimal time. You can also use the app to check prices that aren’t listed or to see if there are any special deals going on that day.

    4. Divide and Conquer

    Many parents will tell you that going grocery shopping with their children is one of the most difficult tasks for them to accomplish. If you’re currently parenting some young ones, you can probably sympathize. Shopping with children is widely recognized as an inefficient endeavor. However, there are some creative ways that you can use to enlist their help rather than fight against them throughout the entire trip.

    An ordinary shopping trip can be transformed into a game of hide-and-seek, a scavenger hunt, or even a relay race. Come up with a game that you think your little ones would enjoy. Make sure to keep it respectful; other shoppers shouldn’t feel inconvenienced or bothered by the actions of your family.

    While the ultimate goal is to make shopping more enjoyable and efficient, you should always make safety a high priority. Make sure your kids don’t wander off without a companion. A tag team effort will get the job done just as well, without adding any additional concerns to your errand run.

    5. Check the Store’s Google Page

    Google is the world’s most popular search engine for good reason. This online tool provides high-quality information at an astounding pace on almost any electronic device. An online search may have been what brought you to this article in the first place. Besides helping you to find the information you’re looking for easily, there are some other lesser-known tools that Google provides that can prove useful.

    Search up the grocery store you plan on going to. When the correct store pops up, click on it to bring up a new Google view that shows various stores in the area next to a local map. When you select a business, you can view the times when the store is busiest and during which hours there’s not so much foot traffic.

    While this information is just an estimation, it can help you pick the best time to run your grocery. Instead of going right after work when the store is packed to the brim, consider waiting to go a little later when fewer people are expected to be present. Aisles will be less crowded, and checkout lines will be a lot shorter, meaning less time ultimately spent on your part.

    6. Get a Personal Shopper

    Did you know there is such a thing as a personal shopper? This job is just like it sounds. A personal shopper goes shopping on behalf of another person. This is a common service provided to the elderly or others who can’t leave their house for one reason or another.

    A personal shopper can help you out in a pinch from time to time. They basically combine the benefits of grocery pick-up and delivery into one service. The main difference is that you can communicate more intimately with your personal shopper. This becomes an ideal option if you’re particular about specific items, such as produce or cuts of meat.

    Grocery shopping may never be one hundred percent fun. However, you can make it much more efficient and enjoyable if you put your mind to it. With all the grocery shopping you’ll end up doing over the years, looking for areas of improvement is certainly worth looking into.

    Featured Image Credit: Photo by Matheus Cenali; Pexels; Thank you!

    The post 6 Creative Ways to Make Grocery Shopping More Efficient appeared first on Calendar.

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    Abby Miller

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  • Time Wasters to Eliminate Now | Entrepreneur

    Time Wasters to Eliminate Now | Entrepreneur

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    Every day we time-wasters spend hours finishing chores around the house, wondering why we didn’t finish everything.

    A lot of time wasters are subconscious. We do them without thinking — they have become habits. So it’s time to move off those habits and be more proactive with how we spend our time instead. Don’t ever murder time, as Macbeth did!

    Here is a list of the top 15 time-wasters to avoid. Time waster, take note.

    #1 – Downers

    Some people are “fair-weather friends.” They are only there in good times. However, “true friends” are always there for you. And it’s okay to have a mix of these types of friends in your life — but know and understand the difference. Watch for people and friends who lift you and give you energy — these will be more important than those who drain your energy. You’ve got to get rid of the Debbie-Downers and the David Droops. When you do, you’ll have energy for everything else in your life.

    #2 – Work You Do — But it’s not Necessary

    Is it always necessary to do a job that no one sees? Yes, sometimes – like cleaning your house – but is it essential to do that cleaning so frequently? Limiting unneeded job frequency will give you more time each week.

    #3 – Tasks You Could Delegate

    Whether a pro or a willing helper, you can delegate some tasks. When you need help, ask, and budget your time. For example, why waste time ironing or cleaning unless you enjoy it? If you don’t have enough money to pay for this help, could you swap with a friend and do a job they don’t like in return? Or just know you have the work and do it quickly, not allowing it to pile up.

    #4 – Long Talks or Meetings

    Long meetings waste time in offices and can waste time at home. Arranging a meeting to discuss something, and offering to wait for a tradesperson, etc., can be a waste of time. Consider alternative approaches to the same goal. Could you send the tradesman a photo of the job with measurements and details? Could you call instead of meeting in person? If you need to meet, set a specific plan, state your availability, and stick to your Calendar plan. Don’t be someone else’s timer waster, either.

    #5 – Queues

    Plan your day ahead of time to avoid busy times. For example, skip your drive during rush hour. Someone at our office gets up and works an hour earlier to go to the gym every morning, which saves him time. The earlier drive covers all the time at the gym. Likewise, consider shopping late or early rather than during or after school/work when the store is busier. Very early mornings seem to find most stores (especially grocery stores) quite empty.

    #6 – Banking

    Online banking is a quick and easy way to save time with your finances. You are more likely to stay on track if you can access your accounts quickly and easily without queuing or traveling to the bank. If you must go to the bank — go during non-peak times and know exactly what you need. Most banking needs can be done over the phone nowadays.

    #7. Pay Bills Once Received

    Examine your bills and set up automatic payments. Many companies offer a discount for paying by direct debit, and you save time not having to pay each month manually. Don’t waste time searching for a bill — especially a late one. Direct bill pay saves much time and many issues, including late fees. If you pay bills another way — make sure you never set a bill down except in its correct location — one that is always the same.

    #8 – Answering Unknown Callers

    Stop answering unknown numbers because most of them are cold callers who waste your time and distract you from your work (which can take time to get back into). If it’s essential, they’ll leave a message, and you can respond quickly, but why interrupt your flow when it’s not? Even faster — have your answering message say that the fastest way to get hold of you is to send you a text. Quickly reading a text helps save time, so you don’t have to listen to a long, detailed, time-waster phone message.

    #9. Checking online

    Checking email and social media sites wastes a lot of time, and most of us aren’t even aware of how much time has passed. Consider scheduling this in your day so you can respond to emails and messages simultaneously. If you’re waiting for something — you could do this as a “treat” at the end of the day and make it on your TO-DO list. That way, you can answer questions, but they don’t take over the day (if you answer any calls, social media, or emails first thing in the morning — you’ll miss something essential you need to do that day).

    #10 – Reacting to Errors

    Try not to react when running errands — have you ever gone shopping only to realize you forgot something and had to return to the same city area? Do you suddenly remember someone’s birthday and go shopping? Instead, be proactive and try to group errands according to the area of the city — or type of errand. Only go to certain places (like the market) once a week. Begin to shift your thinking — shop online for gifts at the start of each month so they’re ready to go when you need them?

    #11. Wasting Time Food Shopping

    We all enjoy shopping in small increments, but we know that ordering groceries online saves time and avoids impulse purchases. If you spend too much time shopping for food or deciding what to buy, then shopping online is the way to go. If you still go to the market and specialty grocery — as said above — only go once a week or less.

    #12 – Viewing

    Especially since COVID — surveys show that our show-watching is by far the most popular time-waster, and half the time, we don’t even realize it. So for a week, track how much time you spend watching TV. Watching just one less series or soap operas may be enough to give you the time you need.

    #13. Things You Should Never Do

    Things you should never do — Watch for THINGS you will resent if you DON’T do them and those things you will begrudge if you DO do them. Instead, try to fill your schedule with something you have to do — like work — things you want to do and enjoy — like reading, hobbies, and relationship things. And learn to say NO to a few things you should say no to, and see how much better you feel.

    #14 – Delaying

    You can complete most tasks in less time than you think — so set a five-minute timer and get started. If you need to do something, do it. Time is not to waste, and you’ll feel so much better when you get things done early and on time.

    #15. Perfectionism

    Another snoozy topic — being too perfect. Usually, we can get by with a solid 80% effort and be finished with the task. Those who want 100%, and especially those who work at 110% thought capacity, waste so much time on that extra 20% — that the extra twenty percent will become a problem somewhere. If you can get something done, that’s good enough instead of perfect. You’ll save not just time — but your life. Perfectionism kills many things in productivity — and in your life. Stop wasting time on perfection.

    Do You Have Time Wasters You Want to Eliminate?

    We all have a limited amount of time, so why not make the most of it? Identify your time wasters and minimize them. That will allow you to find bushels of extra time.

    Image Credit: Photo by Jordan Benton; Pexels; Thank you!

    The post Time Wasters to Eliminate Now appeared first on Calendar.

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    Max Palmer

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  • 12 Reasons Why Small Business Owners Should Switch to Digital Banking | Entrepreneur

    12 Reasons Why Small Business Owners Should Switch to Digital Banking | Entrepreneur

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    What’s the resource you prioritize the most as a CEO or a small business? “Time is money” – is the most common answer. Well, saving your precious man-hours can translate to increased revenue!

    There’s no point denying that you’ve got associates to meet, sales targets to realize, and entrepreneurial tactics to chalk out. Standing in the queue for banking services isn’t something you’d consider in your chores.

    Banks operating in traditional brick-and-mortar setups can consume valuable business hours. Neither would it be practical or safe to entrust a dedicated team to handle your banking. With digitization driving the global business paradigm toward a fast-paced future, why not switch to digital banking?

    Embracing digital banking can significantly streamline the process of receiving payments from your clients, too. Do you know that 78% of US adults accessed their bank accounts through a website or mobile app? Just 29% of the US population still carries out traditional banking transactions.

    So, how about switching to digital banking to streamline money transfers from both ends?

    How relevant is digital banking to business owners?

    Think of how banks operated a decade or two ago. As a business owner, you’d repent squandering time visiting banks to withdraw or deposit money, transfer funds, and obtain the latest statements. Given that banks serve hundreds of clients each day, who would compensate for the lost man-hours as you wait in the queue?

    With the inception of digital banking, CEOs and small business owners can access bank accounts virtually at any given time or place. Gone are the days when you needed to visit the branch to seek banking services. With mobile banking and internet banking streamlining digital banks, you reserve the liberty to choose any time you are comfortable with.

    Whether you are at your office or home, traveling or relaxing, digital banking brings you unprecedented independence!

    The relevance of digital banking to small business owners becomes even more practical when you evaluate these statistics.

    • A study by the Bank of America reveals that 85% of small business customers count on digital payment channels.
    • Between 2018 and 2022, the share of the US population using digital banking services increased from 61.3% to 65.3%.
    • In 2021, mobile banking was the primary method for 43.5% of US bank account holders to access their accounts. Just 14.9% of the population counted on bank tellers, in contrast.
    • 87% of the respondents in a Chase survey admitted to using their mobile banking apps once a month at least.
    • In 2022, as much as 77% of US citizens had a mobile wallet to make digital payments.

    Benefits of digital banking for small businesses

    Let’s have a look at the plethora of benefits that digital banking brings to the table.

    1. Greater convenience

    Well, digital banking brings you perks beyond skipping queues and staying productive. Making transactions have become far more convenient and accessible, thanks to virtual payment modes.

    Simply downloading the app or accessing your bank’s website empowers you to process salaries and transfer money. CEOs and business owners can also monitor their accounts at any convenient time through a mobile device, laptop, or computer. Since business owners need to make several daily transactions, digital banking significantly eases the process.

    Accountants and cashiers, too, need not wait for the month to check transactions. With online bank statements easily available, your teams can instantly check the status of wired funds or deposits. This way, you can detect errors or spot delays in payments in real time.

    As a business owner, you know how much failed payments can bother you! Digital banking brings you mental peace that drives your productivity.

    2. Enhanced security

    At one point or the other, business owners need to entrust their account management to others. Thanks to the plethora of features you enjoy with digital banking, you can set specific employee access to your account.

    After all, you won’t allow all your employees to access your bank account, right? With select employee logins and passcodes, CEOs can control who accesses their accounts. This eventually leverages the overall financial security of your company.

    Of course, you reserve the liberty to decline access for ex-employees or even existing ones if the need arises.

    Other security features that digital banking brings to the table include the following:

    • The biometric login authentication feature ensures that only authorized individuals get access to your bank account.
    • Your bank may request additional authentication if someone tries to log into your account using an unknown device.
    • Digital banking also enables account holders to set up MFA (multi-factor authentication) for stronger security purposes.

    Apart from this, small business owners can also secure their digital banks through the FDIC (Federal Deposit Insurance Corporation). This would compensate them for losses worth $250,000 in case of fraud or loss for each bank. 

    3. Global access

    Remember those days when banks used to test your patience as you waited for a paper settlement? Even checking your account balance required you to call your bank or visit the branch.

    With digital banking, business owners enjoy the freedom to log into their accounts from any part of the world. Even if you are on the go or on your way to a client meeting, simply log in to your account through a mobile app to check the statement. This way, you can inspect whether your check has been cleared or received a pending payment.

    Amidst the digitized business infrastructure where small business owners strive to fulfill their targets, global access to their bank accounts is a boon!

    4. Fraud alerts

    Well, you have been channeling your efforts and resources to consolidate your business or startup. A banking fraud would be the last thing to expect to derail your goals.

    With digital banking, reputed banks notify account holders immediately if they notice suspicious activities on their accounts. For instance, you might receive a notification through email or text if there’s a significant transaction in your account.

    Similarly, if your credit card is swiped in a different location apart from the regular one, your bank might raise a fraud alert. It’s always wise to remain secure rather than repent your loss later!

    5. Simplify vendor payments

    Often, you happen to overlook the ease of processing business pay bills. Amidst tough competition, business owners would be more focused on their core competencies. There’s no point draining your time writing checks and mailing them.

    With digital banking infusing freedom into your work environment, you can process vendor payments even on the go.

    6. Data-oriented advice

    One of the less-known perks of digital banking for small business owners is the availability of data-driven advice. Your bank transactions generate sizable volumes of data, particularly when you scale up your business activities. For small business owners, analyzing this data proves to be tremendously gratifying.

    Digital banks analyze financial data by deploying machine learning and artificial intelligence. This way, entrepreneurs can get valuable insights into improving their performances.

    For instance, trend analysis can help you manage your inventory better. It may also advise small businesses when to get a dedicated inventory management system. Therefore, as you grow your business, you continue to strengthen your operational infrastructure.

    Some digital banks also offer features like performance measurement. This enables business owners to bank on smart analytics tools to evaluate performance metrics such as revenue growth for their organizations. Comparing these values to those of your competitors, you can gain clarity on where your business stands in the industry.

    7. Zero paperwork ensures productivity

    Let’s face the hard fact: paperwork in banking eats into your productive hours.

    Now, with digital banking, small business owners can gain access to their accounts from any location whatsoever. By eliminating paperwork, you can significantly save precious manhours for your business.

    Whether you want to transfer funds, deposit checks, or check your statement, you can perform these tasks remotely.

    Also, some digital banks enable business owners to manage their operations by configuring a text alert mechanism. This system keeps track of the payments made by your firm and notifies you if there’s a low balance in your account. Entrepreneurs benefit from this instant access to their digital bank accounts to maintain proper control over transactions.

    Besides, you can seamlessly transfer funds between your business and personal bank accounts.

    8. Download organized financial reports

    One of the perks of switching to digital banking for business is that you can download digitized financial records. This helps in keeping all your commercial records organized. Your accounting department or bookkeeper can seamlessly scrutinize the transaction with these organized reports.

    These reports include any transaction made through internet banking, phone banking, ATM withdrawals, credit card transactions, deposits, and transfers. Why not keep things transparent and tidy and everything under your control?

    9. Get account-related services online

    Small business owners usually stay obsessed with their entrepreneurial pursuits during the weekdays. This leaves them only the weekends to deal with account-related services. Given that physical banks would remain closed on weekends, it’s logical to switch to digital banking. This implies you can update your financial details, order cheque books, view order statements, or apply for business credit cards after office hours.

    Besides, some business owners also engage in trading and investment through digital banking platforms. A single mobile app or web interface would cater to all these requirements.

    10. Financial assistance

    Small and medium-scale enterprises (SMEs) often get financial services from banks. With the digitized channels available, applying for financial assistance or loans has turned out to be much easier. While traditional banks are often reluctant to sanction loans to SMEs, digital banks offer generous financial privileges to entrepreneurs.

    In case you have strategized a path to scale up your operations and need a loan, having a digital bank account would be helpful. When it comes to loan processing, digital banks are more flexible and adaptive.

    11. Digital banking services are affordable

    Do you know why small business owners are quickly embracing digital banking services? The virtual banking infrastructure has proven to be more cost-effective compared to the physical ones.

    First, enterprises can eliminate the overhead costs associated with purchasing papers and stationery. Physical banks often levy heavy fees on SMEs to compensate for their transactional and operational costs.

    On the other hand, digital banks don’t have such costs associated with them. This reduces their operational and transactional costs significantly. Before opening an account with a digital bank, business owners must check out the associated charges.

    12. Automatic bill payments

    Consolidating your small business calls for your diligence and time. Why overwhelm yourself with recurring bill payments or other non-essential activities? With digital banking, it’s easy to automate your bill payments. This way, you need not bother yourself about payment deadlines, particularly with several bills to clear.

    The automatic bill payment feature in digital banks enables small business owners to schedule payments. A few clicks on your mobile handset can get this payment schedule configured. The system works just like recurring fund transfers.

    The advanced system also ensures that small business owners are on time with their utility bill payments. This ensures that you don’t end up missing out on any deadline, saving you from penalties.

    Most importantly, business owners can scrutinize the entire billing history in a comprehensive platform later. So, if you need any record about your utility bills or payroll, you can simply log into your digital banking account and check it out.

    Small business owners can also stay ahead of their tax-payment deadlines with digital banking services. So, you need not worry about harsh legal consequences if you are too engaged to visit your bank physically.

    Endnote

    Well, if you are yet to switch to digital banking, you know where you are compromising the integrity of your business.

    Online banking ensures better security, transparency, and organization of your financial records. We have comprehensively discussed the multiplicity of benefits small business owners can reap from digital banking. No wonder startups and new enterprises are opening their business accounts and applying for credit cards digitally!

    The post 12 Reasons Why Small Business Owners Should Switch to Digital Banking appeared first on Due.

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    Deanna Ritchie

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  • How to Legally Avoid Taxes in 2023: These 11 Tips Will Save You Millions and ARE all Legal | Entrepreneur

    How to Legally Avoid Taxes in 2023: These 11 Tips Will Save You Millions and ARE all Legal | Entrepreneur

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    We understand that you hate shelling out a hefty amount to the taxman every year. However, just like a necessary evil, you must pay taxes, right? Amidst a year of inflation, recession, and high volatility in the stock market, you’d be strategizing your tax cut or finding ways to avoid taxes.

    A calculated mix of investments, tax credits, and deductions can help you save millions! Well, this might give you the impression that tax saving is something illegal. We assure you that’s not the case.

    Difference between tax avoidance and tax evasion

    The US government has devised several strategies to help its citizens save taxes. You might already be familiar with some of the popular tax credits and deductions. Besides, we will recommend some investments in this article that should help you save tax.

    Since most taxpayers are unaware of these legal tax-saving ways, they tend to miss them out. When you avoid paying taxes by adhering to the legalities, you simply save them!

    Tax evasion is something different and a practice you shouldn’t probably indulge in. It involves deliberately concealing or misreporting your income to avoid taxes you should have legally paid. In other words, tax evasion means you simply refuse to pay taxes that the IRS deserves from you.

    Here are some instances of tax evasion that you should refrain from indulging in.

    • Hiding one or more of your income sources.
    • Underreporting your income.
    • Taking your taxable assets offshore.
    • Using your business assets for personal purposes.
    • Creating dummy corporations or shell companies.
    • Claiming undue deductibles.

    11 Tips to legally avoid taxes: Bank on your tax credits, deductions, and investments

    Taxpayers often miss out on rightful deductions owing to a lack of information. Here are some legal ways you can deploy to save taxes.

    1. Contribute the maximum to retirement accounts

    2023 brings a positive development to taxpayers ready to increase their accumulations in retirement accounts. You can now contribute more to your individual retirement account as well as 401(k).

    The authorities have increased the employee deferral limit from $20,500 to $22,500. Investors aged over 50 could deposit a maximum amount of $6,500 till last year. This amount has been increased to $7,500, enabling you to save even more taxes. These benefits are also applicable to most of the 457 plans, 403(b) plans, and Thrift Savings Plans.

    Also, the authorities have boosted the contribution limits for IRAs. In 2023, taxpayers can save up to $6,500. Until last year, it was capped at $6,000.

    2. Retirement accounts for freelancers

    Being a freelancer or an independent professional, it pays to capitalize on your retirement investment opportunities to lower your tax burden. Here are two legal ways to underpay your taxes without bearing any consequences.

    Individual Retirement Account (IRA): When freelancers contribute to a traditional IRA, they are exempted from the contributed money until they draw them during retirement. However, this withdrawal age is 72, leaving you plenty of time to consolidate your finances.

    Roth IRA: If you contribute to a Roth IRA, you will be taxed on the amount you channel to this account now. However, when you retire, withdrawing the amount would be tax-free. For a Roth IRA account, the withdrawal age is 59.5.

    Suppose you are in the 24% tax bracket. Contributing an annual amount of $9,000 to your IRA will legally save you income tax worth $2,160.

    3. Take advantage of your HSA Account

    Allocating funds for medical purposes under an HSA account can help you save tax.

    Are you privileged for an HDHP (high deductible health plan) through your recruiter? This might allow you to access an HSA (Health Savings Account) so that you don’t pay medical expenses from your pockets.

    Well, taxpayers need to contribute to this account through their pre-taxed income. This would eventually reduce their taxable income. The medical expenses that you qualify for wouldn’t invite any tax.

    You can take tax advantage legally from your HSA Account in three ways:

    • Pre-tax payroll HSA deductions
    • No tax for medical expenses that you qualify for
    • Tax-free growth

    Before you start contributing to HSA to legally save taxes, consider these aspects:

    • To qualify for an HSA, taxpayers need to enroll for an HDHP at the outset.
    • HSAs come with some upper caps on contributions. For instance, freelancers in 2023 can contribute up to $3,850 to self-only HDHP coverages. Again, if you have family coverage, the limit is $7,750.
    • While opening the HSA account, it’s imperative to choose a beneficiary.

    4. Capitalize on your FSA (flexible spending account)

    Don’t have access to your HSA account? Well, this shouldn’t dampen your spirit since you can still allocate funds tax-free for medical purposes. Some employers don’t offer HSA accounts. Instead, they provide flexible spending accounts (FSAs), which prove to be much more versatile. While HSAs allow taxpayers to put aside funds solely for medical purposes, you can allocate funds to your FSA for:

    • Eldercare
    • Childcare
    • Buying prescription medicines
    • Managing medical expenses

    However, if you don’t use the money by the year-end, the funds may be forfeited. So, open an FSA account only when you are sure of your fixed expenses.

    Funding of your FSA takes place through your payroll deductions. Later, you can use the amount in different avenues, from purchasing over-the-counter medicines and dental treatments or even co-paying your insurance premiums.

    Most companies offer flexible spending accounts for both dependent and healthcare. Like HSA, taxpayers should know the limits they can deposit. In 2023, the FSA upper limit has increased from $2,850 to $3,050.

    5. Claim tax credits

    While financial experts advise not to apply for tax credits that you aren’t eligible for, you might qualify for some of these. This ensures that you can reduce your tax liabilities and taxable income legally.

    Let’s take a look at the tax credits you can be eligible for.

    Earned Income Tax Credit

    Being a low or moderate-income taxpayer, you may qualify for the Earned Income Tax Credit. The amount you can qualify for depends on the number of children.

    • Taxpayers with no children can claim credits up to $600.
    • Taxpayers having only one child can claim up to $3,995.
    • If you have two kids, you can be eligible for a tax credit of $6,604.
    • The maximum earned income tax credit is $7,430 if you have three children.

    All these slabs were increased in 2023, compared to what eligible taxpayers used to receive in 2022.

    American Opportunity Tax Credit

    Under the provisions of this tax credit, eligible students can qualify for a credit of a maximum of $2,500 a year for the initial four years of their higher studies.

    Also, don’t overlook the Lifetime Learning Credit. This privilege can help you qualify for 20% credit or $2,000 a year, considering the qualified expenses to be $10,000.

    Saver’s Credit

    Taxpayers with low or moderate income may also qualify for the Saver’s Credit while securing funds for retirement. You might be eligible for a credit amounting to 50% of your contribution to an ABLE account, an IRA, or a plan.

    Child and Dependent Care Credit

    Based on your income, the Child and Dependent Care Credit can help you save taxes on expenses you make to take care of your children. Even if you have any disabled dependents, you would be eligible to claim the credits.

    6. Make energy-efficient home improvements

    Do you know that making energy-efficient improvements in your home can make you eligible for a tax credit?

    The Inflation Reduction Act (2022) entitles US residents to get tax relief on the expenses they incur while improving the energy efficiency of their homes. However, it’s wise to know the exact upgrades that can qualify you for this tax credit. Also, keep the bills, invoices, and receipts of these appliances and their installation costs handy.

    Adding insulation, heat pumps, or carrying out home energy audits can help you claim tax credits of up to $1,200 annually.

    7. Take advantage of eligible deductions

    Just like your tax credits, check the deductions you are eligible for. Before filing your tax returns, make sure to scrutinize all the points where you can save tax.

    In 2023, the US government raised the standard deduction for single tax filers to $13,850. If you are jointly filing your income tax with your spouse, you can be eligible for a maximum deduction of $27,700.

    Don’t overlook the interest you have been paying on your home mortgages. Reach out to a tax professional if you are in a dilemma about whether you should go for a standard deduction or itemize.

    8. Contribute to 529 college savings

    US citizens willing to legally curtail their taxes may consider contributing more to their 529 college savings. Initially, you could use this tax-advantaged savings plan to manage educational expenses at the post-secondary level. Later, the coverage was expanded to the K-12 level and apprenticeship programs as well.

    Under 529 plans, taxpayers can choose between prepaid tuition plans and education savings plans.

    Prepaid tuition plans: The account owner holding a prepaid tuition plan can continue to pay the existing tuition rates for attending designated universities or colleges in the future. This implies they can lock the rate at the lower end.

    Education savings plans: These are tax-deferred plans for education. The positive aspect of these plans is that they grow without tax implications. For qualified educational expenses, you can withdraw them tax-free.

    9. Claim business tax deductions for your side-hustles

    It’s illegal to claim tax deductions for your hobbies. However, taxpayers can always claim deductions for side hustles that qualify as businesses.

    Whether you write blogs as a freelancer or dedicate your leisure hours to a ride-sharing business, you can legally claim tax benefits.

    To give you a concrete idea, here are some business deductions you can claim.

    • Travel expenses related to business
    • Vehicle mileage
    • Website fees
    • Advertising and shipping
    • Internet bills for business
    • Memberships and dues
    • Professional publications
    • Stationeries and office supplies

    However, make sure not to over-exploit or take undue advantages by categorizing your personal expenses under business ones.

    10. Let out your home for business meetings

    If you are a homeowner, you can bank on the provisions of the Augusta rule to save taxes. The rule states that letting out a residential space for hosting business meetings for a period not exceeding 14 days doesn’t require you to inform the IRS about the income. However, there’s a catch in this clause: the primary owner’s home cannot be their business space. So, if you don’t inform the IRS about this income, you need not pay taxes!

    This can be a legal way for business owners operating without a home office. If you are under this category, consider renting a room in your own residential premise to host a business meeting. Deduct this cost from your business taxes. This way, you need not claim the rental fees when you file your personal tax return.

    However, don’t charge an exorbitant amount from your business in a bid to avoid taxes. Consider the local rental rates before you file your tax. Tax officials expect the rate to be in line with the ongoing market rates. Also, ensure proper documentation about the purpose, place, duration, and time of the meeting.

    11. Donate stocks to avoid capital gains

    How about making charitable gifts by donating stocks to avoid capital gains tax?

    Financial experts advise donating an appreciated stock from your portfolio. This way, you need not pay capital gain taxes on the profits you make on the value appreciation of the stock. Besides, you would be contributing to a charitable cause, which would bring in further tax benefits.

    Many taxpayers donate stocks or gift them to take advantage of this dual-benefit mechanism. Reach out to a charity and check whether or not they accept stocks or securities.

    Endnote

    With these guidelines, you have probably unlocked new avenues to save tax! All these procedures are legal, and you needn’t worry about facing any consequences as long as you are transparent with your documentation.

    Consider talking to a professional tax preparer or accountant to bank on all the legitimate ways to save tax. Also, choose the right tax filing status so that you remain eligible for the maximum number of deductions and credits.

    The post How to Legally Avoid Taxes in 2023: These 11 Tips Will Save You Millions and ARE all Legal appeared first on Due.

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    Peter Daisyme

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  • Natural Gas and its Supply Chain | Entrepreneur

    Natural Gas and its Supply Chain | Entrepreneur

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    Natural gas is a commonly used energy source around the world. Thousands of people are employed in its supply chain, helping with drilling and extracting natural gas, treating it, and transporting it to commercial and industrial consumers.

    In this article, we’ll discuss what natural gas is, explore its supply chain in greater detail, and cover some current events and recent discussions related to it. We’ll also offer tips for people interested in investing in this sector.

    Key takeaways:

    • Natural gas is produced over millions of years by the slow breakdown of organic matter as its pressed and heated under sand and sediment.
    • Natural gas is primarily composed of methane, though it often needs to be processed when it’s first drilled from underground due to the presence of non-hydrocarbon compounds like sulfur and helium.
    • The future performance of natural gas companies will be affected by socio-political events like war, government sanctions, and green energy initiatives.

    What is Natural Gas, and How Do We Get It?

    Formation

    Natural gas is a non-renewable resource that consumers can burn to generate heat, electricity, or cook food. Formed by the anaerobic decomposition of organic matter, methane is the primary component of natural gas, but it also contains small amounts of carbon dioxide, nitrogen, and various other gases.

    Imagine marine plants and animals dying millions of years ago and being buried on the ocean floor. Over time, the build-up of sand and silt pushes their remains deeper into the Earth, exposing them to higher temperatures and increased pressure. This combination eventually breaks down carbon bonds in organic matter, producing thermogenic methane (natural gas).

    Extraction

    Natural gas is found underground in formations like sandstone beds and coal seams. Like petroleum, natural gas can flow freely to wells because of natural underground pressures pushing the gas through rock. Petroleum reservoirs often contain natural gas too, and drillers often find the gas (because it’s lighter) on top of the oil.

    The extraction process for natural gas involves pumping into a well bore to bring oil and gas to the surface. Drillers intentionally try to fracture rock to facilitate gas flow through the reservoir.

    Studies from the last ten years have shown 75% of the world’s natural gas deposits are in the Middle East, Europe, and the former U.S.S.R. That leaves a relatively small amount of natural gas in the United States, but it is still a significant industry and employs thousands of Americans yearly.

    Processing

    Natural gas companies typically transport their product through pipelines. These pipelines carry natural gas to processing plants where water vapor and nonhydrocarbon elements are separated from methane. It doesn’t always need to be processed if the natural gas harvested is not especially “wet” (mixed with elements besides methane).

    Processed natural gas (which usually contains trace amounts of other elements) is called “dry natural gas” and can be delivered through pipelines to underground storage fields or distribution companies before being sent to consumers. Natural gas is naturally odorless, so chemicals called odorants are added to natural gas so consumers and workers can detect leaks.

    Transportation

    Liquefied natural gas (LNG) is natural gas that has been cooled to -260 degrees Fahrenheit to reach a liquid state. Because liquids are more compact than gases, LNG takes up only 1/600 of the space it does as a gas. This allows for easy transportation around the globe to places without access to natural gas pipelines.

    Once LNG has arrived at its destination, regasification facilities will heat the gas until it returns to a gaseous state. The company can then deliver the gas to consumers’ homes through local pipelines.

    Unlike other fossil fuels, natural gas burns cleanly and produces less toxic air pollutants and carbon dioxide. Carbon dioxide emissions from natural gas (per unit of energy produced) are roughly 40% lower than coal and 20% lower than oil. This gives natural gas a reputation as a relatively safe and efficient energy source.

    However, there’s disagreement over the benefits of using natural gas and whether they’re outweighed by methane released into the atmosphere during processing and transportation.

    Flaring

    Flaring is the process of burning natural gas and is a common by-product of oil extraction. Many oil and gas value chain workers defend flaring as necessary for safety and economic reasons. Drilling creates pressure and gas build-ups which flaring helps offset. It’s also not profitable for companies to bring as much natural gas as possible to market.

    However, many others criticize the process of flaring as polluting and wasteful. Viable markets are necessary for companies to invest in capturing and processing excess natural gas. Until then, flaring remains a controversial step in many oil and gas operations.

    Whereas flaring involves burning natural gas at a production well, venting is another process drillers use to eliminate excess natural gas. Venting involves the direct release of natural gas into the atmosphere, and though it’s typically in small amounts, it’s still considered damaging to the environment.

    American Natural Gas Market

    Natural gas now accounts for roughly a quarter of global electricity generation. In the U.S. in 2023, analysts measured the natural gas industry’s market size (by revenue) to be over $200 billion. Natural gas represents a potential investment for many people. Because it is slightly more environmentally friendly than other thermal energy sources like coal, climate change legislation passed in the coming years may affect natural gas less.

    Because natural gas is an energy source used by so many people, regardless of the state of the economy, it’s a relatively stable sector during a recession. Whereas increased interest rates and decreased spending power can chip away significantly at something like an entertainment company’s revenue, an energy company will usually not see profits fall by too much in an inflationary environment.

    If you’re interested in exposing your portfolio to natural gas companies, you can invest in an exchange-traded fund (ETF), buy a futures contract, or invest in individual natural gas companies on an exchange. Major oil and gas stocks typically offer investors high dividends, making these stocks even more attractive to potential investors.

    Socio-political Events Affecting Natural Gas

    Like all other energy sectors, current socio-political events can significantly impact companies’ performances. It’s not just climate change legislation affecting the outlook of energy companies.

    The Nord Stream Incident

    In September 2022, a series of bombings and subsequent gas leaks occurred on the Nord Stream 1 and 2 pipelines. The pipelines were designed to transport natural gas from Russia to Germany across the Baltic Sea.

    Before the bombings, the Nord Stream pipelines had been filled with natural gas — but were not operational due to disagreements between Russia and the European Union. In 2021, Europe relied on Russia for over 40% of its gas, and the sudden choke in the supply chain caused energy prices to skyrocket.

    In the background of this event were Russia’s invasion of Ukraine and the U.S. threatening sanctions on any country that helped Russia finish the construction of the Nord Stream pipelines. Though it remains unknown who was responsible for the attacks on the pipelines, the event shows the effect current events can have on natural gas prices.

    The U.S. tied Qatar in 2022 as the world’s largest LNG exporter. The incident benefited companies specializing in solar, hydroelectric, wind, and biomass energy sources.

    U.S. Investment in Natural Gas

    Another effect of the Ukraine War and the increase in LNG prices was further investment in home energy sources. The U.S. plans to build some liquefied natural gas terminals along the Gulf Coast; this would mangify the number of exports the U.S. could make.

    While this news is not necessarily good for those worried about the U.S. meeting certain fossil fuel emissions thresholds, it suggests the landscape of the American natural gas industry may change significantly in future years.

    The Future of the Industry

    It’s challenging to know what direction the natural gas sector will go. People may consider switching energy sources if there’s an extended energy crisis. As climate change legislation targets thermal energy sources with more sizable carbon footprints, natural gas demand may continue to grow in the coming years since people still want reliable energy sources to heat their homes and cook with.

    The Inflation Reduction Act, signed into law by President Biden this August of 2022, allocated $369 billion towards fighting climate change by creating and developing green energy. We’ll have to wait to see how companies specializing in green energy respond to increased funding and good press. If demand continues to grow, there’s a chance their market share will cut into that of natural gas companies. Only time will tell.

    Final words

    When you say natural gas, most people immediately think of the small blue flames on their gas burners in the kitchen. Natural gas is a non-renewable energy source made over millions of years through the breakdown of organic material. The process of harvesting and processing it is complex and involves a certain amount of environmental harm through the release of methane.

    As the energy world changes around us — with factors ranging from energy crises abroad to green energy initiatives here in the U.S. — demand for natural gas will likely continue to grow in the coming decades. As an investor, you may be interested in companies that either process LNG or ship it globally.

    The post Natural Gas and its Supply Chain appeared first on Due.

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    Eric Rosenberg

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