The best way to prepare your business for the future is by having a financial plan. A financial plan gives an overview of the current financial situation and its growth projections. It considers the financial documents that represent your existing business’s monetary situation and future expectations. Why is this planning important? A financial plan helps project the short and long-term financial goals of a company and gives you ways to develop financial strategies. To plan for your business’s financial future, you need to consider having the following.

PROFIT AND LOSS STATEMENT

A profit and loss statement, also known as a pro forma income statement…


Employees’ overall attitude, satisfaction, and outlook during their work associated with an organization or business is the crucial definition of employee morale. An employee who is satisfied and motivated in the workplace often tend to perform better than their counterparts. For this reason, achieving higher morale among the employees is essential for many reasons:

1. Increased productivity

Employee morale directly impacts the employees’ rate of engagement at the workplace. The arrangement is directly tied to their level of production. With confidence, the worker’s efforts will be generally increased, leading to high productivity. …


The nature of innovation is to be creative in everything you do. Even as you look at the bigger picture, you have to ensure that everything is operating well. It is always advisable to prioritize legal considerations as they help set up a business without infringing copyrights.

Why do you need to undertake legal procedures?

Before convincing clients to get your products and services or recruiting staff, it is crucial to go through legal procedures. The legal framework ensures that you operate legally, and your services and products are protected. If you do not copyright your business during its initial stages, losing it is relatively high.

Each business…


PPP loans are loans from the Paycheck Protection Program, designed to keep as many people as possible during the COVID pandemic. The coronavirus stimulus package included specific guidance on how to use the PPP loan funds, along with the criteria on how to qualify for loan forgiveness.

When you receive a PPP loan, you must use that money to cover your payroll expenses for eight weeks after the money is first paid out. This allows you to keep your employees on the payroll while your business may be shut down or have reduced staffing. …


The coronavirus pandemic has changed many aspects of today’s workplace. What was once considered a temporary quarantine measure might become a much longer-lasting cultural trend of working from home. With this increased telecommuting flexibility, some employers want to hire global employees. What are the considerations that should be kept in mind?

As some regions of the world return to normalcy, business administrations are facing new tests regarding workplace security and health. Human Resources departments are tasked with ensuring that offices are safe and that proper sanitation procedures are implemented and followed. …


Many people are unhappy with their jobs but don’t know their next move. Quitting without another income puts a strain on the entire family. As an entrepreneur, niche markets are profitable. Here are tips on finding the perfect niche to make money.

Identify passions and interests.

The first step is finding passion and interests. Creating a successful business takes time and lots of energy, and someone’s less likely to give up on a business when they’re passionate. Make a list of passions that will last for years to narrow down the perfect niche business.

Find solvable problems within the niche.

After creating a niche list, find problems worth solving within…


Some people say that if you love what you’re doing, you’ll never work a day in your life. For some people, that may be the case, but for others, the more financially beneficial option is to get a job that pays well, but they may not love. If you’re tired of working at a job you’re not happy with, consider turning your hobby into your job; whether it’s cooking, writing, playing sports, sewing, or more, turning your hobby into your job will make work much more enjoyable.

It’s not easy to transition your hobby from something you do when you’re…


There’s no doubt about it, COVID-19 has undoubtedly changed how we live our day-to-day lives. This is especially true for business owners who have relied on the constant flow of customers to keep their businesses alive. Now that most states have ban establishment from having more than ten people inside, it’s become that much more difficult to keep the doors open. Therefore, the following list includes some of the best ways to have your business overcome the COVID-19 pandemic.

Using the Past as a Guide

You might be saying to yourself, “We’ve never gone through something like this.” While that is true for some, those who…


Being an entrepreneur is tough, especially when you’re ready to hit the ground running and get your business idea started as soon as possible. If you have a business degree, you might feel ready and prepared for the journey that lies ahead of you, but the truth is that, like with many careers, you’ll do most of your learning on the job. No matter how much theoretical knowledge you have, nothing compares to gaining actual experience.

Before jumping the gun, keep these tips in mind when starting up your new business.

You need more than money.

While earning money is an important part of running…


In today’s world, businesses are growing and expanding rapidly not just in their home country, but also across the globe. Society, with the help of the internet, has become interconnected in ways no one could’ve imagined twenty or thirty years ago, so learning how to do business with people in other countries is crucial toward the continued success of your business. An easy way to learn how to do this is by going to college and obtaining a business degree. Why go for such a generalized degree when you could further study international business administration?

International business administration “ focuses…

Jorge Alberto Lloreda

Based in Miami, Florida, Jorge Alberto Lloreda is an entrepreneur, business owner, and international businessman. Learn more @ JorgeAlbertoLloreda.org

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