Posted in Business

12 Predictions on the Future of the Accounting Profession

Technology has aggressively changed the world around us. Businesses are able to understand their target market with a greater ease and at pennies on the dollar. Giant tech corporations have made the most out of understanding, accumulating and establishing a highly intimate connection with the general public. In broader terms making the world a lot smaller than it used be, simultaneously opening up new horizons for scalability of small businesses.

Even though technology has made it easier for humans to coexist and build a stronger more united world, there are adverse effects of it as well. However, that is only relevant for those that let time slip away, and are not able to adapt at the rate that technology brings about innovations and rejuvenates how everyday functions are performed.

There are extensive lists of professions that have been determined to be in the danger zone due to technological advancements and progressions towards independent and self-aware artificially intelligent (AI) systems. A way out does exist, which is to adapt to the changes and be ahead of the game by keeping up to date and utilizing advancements to one’s own gain, professionally.

Here are some predictions on the future of the accounting profession.

Cloud Accounting vs Local CPAs
We have discussed about this in earlier blogs as well, where local CPAs were compared with cloud based computing. The future is all but cloud, the life of the hard drive is very limited, since all communications and important data is starting to get stored away in a system called cloud. This will enable the transformation and sharing of data at a much faster and more logistical way.

Small businesses rely heavily on small margins of profits; being a small business owner yourself, you would know this better. Every penny that is not being spent towards any unnecessary expenses can mean enhanced profits. Accountants are an integral part of your business; its well-being and structuration depend on them. However, local accountants can be extremely pricey especially accountants in Houston, Texas area. The point in having cloud based accounting systems in place is to reduce the overall expenses on this core business function, improving on the quality of management, and control that you as a small business owner need.

Corporations such as Monily, handle taxes and bookkeeping at extremely affordable rates all the while helping you focus more on your savings and business’s expenses on a reoccurring base at a quarter of the rate at which you would get a single accountant.

For accountants this means that they need to move up from providing just financial advisory services to small businesses, to providing cloud-based solutions that would help their client base save up on accounting expenses and cater to more clients through the integration of technology.

Posted in Business

Tips To Increase Your Affiliate Earning

Affiliate marketing is still one of the great ways to make money online until today, and continue to grow. In affiliate marketing, there are many ways you can increase your earnings and grow your business further.

One of the more important ways of increasing affiliate marketing bottom line and sale is through the use of product recommendations. Many marketers know that this is one of the most effective ways in promoting a certain product.

If the customers or visitors trust you enough, then they will definitely trust your recommendations. Be very careful in using this approach, though. If you start promoting everything by recommendation, your credibility will actually wear thin. This is seen especially when recommendations are seemingly exaggerated and without much merit.

Do not be afraid to mention things that you do not like about a given product or service. Rather than lose any points for you, this will make your recommendation more realistic and will tend to increase your credibility.

Furthermore, if your visitors are really interested in what you are offering, they will be more than delighted to learn what is good about the product, what is not so good, and how the product will benefit them.
When you are recommending a certain product, there are some things to remember on how to make it work effectively and for your advantage. Sound like the true and leading expert in your field.

Remember this simple equation: Price resistance diminishes in direct proportion to trust. If your visitors feel and believe that you are an expert in your niche, they are more inclined to making that purchase. On the other hand, if you are not exuding any confidence and self-assurance in endorsing your products, they will probably feel that same way and will go in search of another product or service which is more believable.

How do you establish this aura of expertise? By offering unique and new solutions they would not get anywhere else. Show proof that what you are promoting works as promised. Display prominent testimonials and endorsements from respected and known personalities, in related fields of course.

Avoid hype at all costs. It is better to sound low key and confident, than to scream and seek attention. Besides, you would not want to sound unprofessional and have that thinking stick to your potential customers and clients, now would you? Best to appear cool and self-assured at the same time.

And remember; prospects are not stupid. They are actually turning to experts and may already know the things that you know. If you backup your claims with hard facts and data, they would gladly put down hundreds, or even thousands worth of money to your promotions. But if you don’t, they are smart enough to try and look at your competitors and what they are offering.

While recommending a product, it is also important that you give out promotional freebies. People are already familiar with the concept of offering freebies to promoting your own products. But very few people do this to promote affiliate products. Try to offer freebies that can promote or even have some information about your products or services.

Before you add recommendations to you product, it is given that you should try and test the product and support. Do not run the risk of promoting junk products and services. Just think how long it took you to build credibility and trust among your visitors. All that will take to destroy it is one big mistake on your part.

If possible, have recommendations of products that you have 100% confidence in. Test the product support before you begin to ensure that the people you are referring it to would not be left high and dry when a problem suddenly arouse.

Have a look at your affiliate market and look at the strategies you are using. You may not be focusing on the recommendations that your products need to have. You plan of action is sometimes not the only thing that is making your program works.

Posted in Business

4 Steps to Build an Emotionally Intelligent Team

The success of a business depends on many possible aspects. In most cases, it’s the leader who can make the biggest difference in a company. This statement is true only if the person in charge manages to make the right decisions and take the right actions. Whether you’re leading a small business or a large brand, it’s almost certain that one of the most challenging tasks you consistently face is the management of your team.

Intelligent work happens when your team members are aligned with your company’s purpose and concise goals. Moreover, the performance of a professional team is directly proportional to the level of knowledge, skills, and passion that each person from the team possesses.

Emotional intelligence is one of the essential traits of the most successful teams. When the members of a group work hard and smart together, working “all as one”, in harmony and joy, great results will show up.

Building an emotionally intelligent team is quite a complex process and it does not depend entirely on you. Your team members must also be willing to improve their emotional intelligence.

In today’s post, we’re presenting several ways in which you can offer your team members the proper conditions in which they can develop their emotional intelligence levels. Moreover, we’ll discuss ways in which you can create a sense of trust and a sense of group identity.

Work on yourself first

Before you even attempt to improve your team’s emotional intelligence, you must assess and reassess your current condition. You should ideally have the following qualities and traits before you start working on others:

Strong communication skills – For people to understand your thoughts, assignments, and expectations, you must clearly express what you’re meaning to say. This will help provide effective team communication.

Great emotions management – You can’t put somebody down – or even worse – fire someone because they made you angry at one point. You need to be able to keep your cool all the time.

High self-awareness – Being able to recognize your feelings, qualities, and weaknesses will make you a complex leader who will be able to achieve great things.

High empathy – It’s a great thing when someone understands your problems entirely. Be that type of leader and your team members will love and respect you.

Just remember that your team cannot become emotionally intelligent as long as its leader does not possess such qualities. Always work on yourself before pretending anything from anyone. That’s what great leaders do!