Performance Anxiety? 3 Tools To Guide Your Company Towards Profit

Many businesses struggle to survive for the long term. According to statistics, about 50 percent of companies fail to survive past their fifth year in existence. Numbers like that can certainly be sobering for entrepreneurs. 

Thankfully, if you are a business owner worried about your company’s performance, there are certain tools you can take advantage of to help improve your business’s long term prospects. Below are three.

Business Analytics Software

Technology is one thing that can certainly help steady the ship that is your company so you can stay profitable. One piece of business tech you should consider investing in is business analytics software. There are four general kinds of data analytics you can perform with your business data. 

Descriptive analytics helps you determine what happened with past business performance. Diagnostic analytics helps determine why you performed that way. Predictive analytics helps you predict how your business will perform in the future. Lastly, prescriptive analytics helps to prescribe actions that can be taken to best improve future performance.

Financial Counseling

Many of the largest companies in the world were started by complete amateurs. Steve Jobs, for example, started Apple out of his parents’ garage. It is not expected that new business owners will be experts at all aspects of running a business. This is why it’s a good idea to sometimes get outside help and input from experts. 




You may, for example, require financial counseling to help you create a better plan for getting your company into the black permanently. Something you may find beneficial is a financial bench marking service. Such a service can help you better match standards in your industry used by successful competitors so you can replicate that success in your own company.

A Solid Business Plan

Every business should have a business plan. Despite this, many entrepreneurs operate without one. Just because you may not need to get a loan from a lender to start your business does not mean you should go without a business plan. 

A business plan can be thought of as a blueprint for how you will make a profit from day to day and achieve your company’s long term goals. If you are failing to make a profit, there are issues you may have overlooked that would have been addressed in a solid business plan.

Just because your company is struggling now does not mean you can’t turn around your fortunes. In certain cases, doing so may require investing in the right tools, obtaining outside help or rethinking your overall plans for making a profit. Many successful business owners went through this process. Don’t be disheartened.

How You Benefit from Auto Insurance as a Good Driver

While some drivers repeatedly are ticketed for moving violations and are in accidents every few years or even more frequently, others have not received a ticket in years and may have never been involved in an accident. If you fall into the latter group of drivers, paying a regular auto insurance premium may seem like an unnecessary waste of money. 

In fact, you may have paid auto insurance premiums for years without every filing a claim against your coverage. While auto insurance may seem unnecessary, it actually provides every driver with these benefits.

Legal Compliance

The most basic type of auto coverage is liability auto insurance. Each state has unique minimum auto insurance requirements, but liability coverage is required by law in most areas. Without meeting your state’s minimum requirements, you may not be able to drive legally. While maintaining the minimum amount of coverage required in your state, it may make sense for any driver to purchase additional coverage.

Protection against Financial Loss

Even the safest drivers can be involved in an accident. Bad weather conditions as well as incidents with other drivers who are not quite as skilled behind the wheel can result in tremendous damage as well as medical expenses. You may need coverage to pay for your vehicle repairs as well as medical expenses for yourself or for other people. 

You are required to pay for damages you cause regardless of whether you are insured or not. Insurance provides you with a convenient and affordable way to cover those expenses. Keep in mind that you may still be required to pay off an auto loan even if your car is totaled and must be replaced.

Peace of Mind

While accidents are one cause of automotive loss, theft, bad weather and other issues could also cause loss. A comprehensive policy provides you with peace of mind that your losses from any type of automotive event may be covered. Your safe driving abilities and clean record behind the wheel may qualify you for competitive auto insurance rates, but driving history and skills are not enough to ensure that you will never have a loss.

It makes sense to avoid buying things that are not necessary, but you can see that auto insurance is essential for any driver regardless of your history on the road Because of your great driving history, you may qualify for competitive rates. Shop around to compare rates and to find a great deal on your coverage.

4 Ways to Make Saving for Car Repairs Easy-Peasy

When you save for a car repair, it gives you a certain peace. No matter what happens, you can know that you’re financially covered. With this understanding, it’s important to recognize the impact saving can have on your life. It’s also even more important to implement it in your financial habits. If you don’t know how to save for car repairs, consider the following ways you can get started.

Set Aside a Separate Bank Account for Car Repairs

When you’re saving money, it’s wise to make sure the money is inconvenient to reach. When you can easily access the money with the swipe of a debit card, you’re more likely to abuse the savings account. 




Instead, create a separate bank account without a debit card. When you’re ready to put money into that account, you can leave it there. When you have a major car repair on the horizon, you can go to the bank and actually withdraw the cash you need.

Allot a Certain Amount for Car Repairs Each Month

If you intentionally set aside money from each paycheck by budgeting, you won’t really notice that it’s gone. Even if you set aside $30 from each paycheck and you’re paid twice a month, that’s $60 in a car repair savings account. When you need an oil change, new tires or a new battery, you’ll be able to pull from that account and cover the repairs.

Shop around for Parts

When you know that you need a specific part, it’s a good idea to shop around. If you own a Mitsubishi car, see if you can find the Mitsubishi parts you’ll need. If you go to a shop and allow them to order the part for you, they might charge you more than you need to pay. This is a great way to save in the long run.

Find an Honest Repairman

While it’s known and understood that many car repairs won’t be cheap, you want to make sure you’re getting a fair price for the effort. While it might be an annoying process, it’s wise to ask around and find an honest repairman. 

There are many car repairmen who are known to take advantage of the customer. Because many people aren’t well-versed in car repairs, they trust the word of the repairmen. It’s easier to save for car repairs when you don’t have to pay an arm and a leg for what you need.

As you move forward in reaching your financial goals and preparing for your future, remember that your car is a major tool you’ll use in your everyday life. It’s best to make sure it’s working on all cylinders. Don’t wait until you’re in a bind to save for the repair. Instead, begin saving now. You’ll be happier in the long run.

How You Should Start Managing Your Money and Earning If You Feel Like You’ll Never Retire

Those of us that are getting a bit older without a huge retirement fund might think that retirement will never come. There is a chance that you are simply mismanaging your money without realizing it. 

Financial literacy unfortunately was not taught in school while other subjects that have no relevance to real life were. The best thing that you can do if you think that you are bad with money is identify the reasons by doing online research. There is no shortage of financial advice online with much of it being applicable to the average person. 

You might need to start earning more to be able to retire at the age you desire. The following are ways to manage your money as well as earn a bit so you can reach your dream of retiring.

Rent Out A Room

Renting out a room can generate monthly income without having to pick up a second job. This could be to a friend or family member. Regardless of who it is, there should be a lease involved. It is important to have a great lease but also to live up to your end of the lease so you do not become a nightmare landlord. 

People that have in-law apartments at their home might never have to see their new tenant on a regular basis. Do rental background checks on any tenants. The last thing you want is to lose money when renting out a part of your home or have to evict your tenant.

Consider Earning Online

The freelance world has exploded, offering plenty of opportunities to earn from the comfort of home. Most people spend far too much time watching TV while they could spend that time earning. An extra hundred dollars per week adds up over the course of a year. 


You have to assess your skills to see what the perfect fit would be though. Many freelancer platforms having rating systems so you do not want to garner a bad rating as it will reduce the number of job offers.

Move Investments To Less Volatile Options

Moving investments to less volatile options as we age is great advice as we only have so many years of earning money left. The worst thing a person can do as they get older is invest in something like cryptocurrency instead of mutual funds. 

Getting a decent return is important and if you have the majority of your money in a savings account, it is being wasted. You can earn far more interest in safe investments than you could ever earn on bank interest.

Examine Current Debts and Payment Options

Taking a look at your current debts can allow you to figure out a payment plan that will reduce the amount of interest paid. For those that owe on the mortgage and can pay it off, they should if they do not have their money in an investment that is earning a higher percentage than their mortgage is charging. Credit card debts need to be wiped out as they compound so make sure to target the highest interest rates and largest amounts first.

As you can see there is hope if you feel like you are never going to retire. Start earning more today and saving where possible!

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