Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.

Another Money Lesson From Dad For Father’s Day 2022: Tax Deductible Gifts

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“I like to make gifts to things that are tax deductible!”

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Yet Another Money Lesson From Dad

This personal money story for Father’s Day 2022 discusses the subject of taxes and once again is inspired by my father. Here on the Big Words Blog Site, I’ve crafted several stories discussing how Dad’s sage wisdom has impacted my life, whether through a direct lesson, or from my observations of him. Some of his most poignant lessons have involved money and arguably created my love for financial literacy, though he and I don’t see eye to eye on everything money related today. One of Dad’s most important lessons involves an area that is the bane of some people’s existence, while being a pillar to the wealth-building strategy of others, taxes.

We’re All Playing One Big Financial Game

Recently it occurred to me that we’re all playing one big financial game, now a video game in our modern technological age. Certainly, money isn’t the sole key to happiness, but life is certainly better when you have an abundance of it versus a scarcity. I would thus define winning this game as having an abundance of it versus just scraping by and financially struggling. Among the factors that go into winning the game include: the family you come from, personal (and family) life choices, your financial IQ, personal grit or ambition, delaying gratification and your current environment.

Your financial IQ may be the most important of all the factors I listed, and it can be impacted by the other factors. This concept is covered in numerous books. Your financial IQ includes your ability to earn money, your ability to save money, your ability to invest money, your understanding of credit, your understanding of insurance and understanding taxes. If you’re born into a high financial IQ family, you will likely learn all these principles starting from the crib. If not, you must learn them along the way, if at all. Furthermore, learning them is going to be impacted by your own personal drive and curiosity. For now, let’s focus on many people’s least favorite topic, taxes.

Taxes: What They’re For And Paying Your Fair Share

First, I want to admit that I don’t know everything about taxes. I would highly encourage readers to subscribe to economist, Antony Davies’, YouTube channel entitled Words & Numbers. It’s one of my new favorite channels because it’s not politics driven, but instead economics and facts driven. I’m currently reading his and James Harrigan’s book, Cooperation and Coercion. Upon listening to his content, one of the things that you immediately start to understand is that our politicians are not always honest with us about who pays what and how much in terms of taxes. Furthermore, they’re not always clear about the ramifications for the tax changes they promote. Often, in the pursuit of a political office, they incite class warfare.

In any case, while some taxes are necessary for our municipal, state and federal governments to perform their tasks, there can be too many taxes and they can have harmful effects on everyone. Furthermore, a part of one’s financial health is managing your taxes. The more you read, learn and start understanding about money, the more you start learning that in our ‘progressive’ tax system, not everyone is taxed the same and there are a number of reasons why.

As extensively covered in the Rich Dad Poor Dad books, employees are taxed differently than businesses (small and large). As an employee, your tax burden changes the more earned income you generate, and you start to lose deductions the more your salary increases. In the above-mentioned Rich Dad books, there is a clear distinction between high income professionals and business owners, and each has different rules in our current tax code. As employees, one of your tools for diminishing taxes is tax deductible gifts or donations.

Tax Deductible Giving

Around the time I moved in with Dad for my postdoctoral fellowship, a couple of things coalesced in my mind in this area. First, I got a copy of the Cashflow 101 e-game which I played regularly on my personal computer. Just briefly, the game is designed to teach you financial literacy and the goal is to get out of the ‘rat race‘ (the realm of working 9-5), and onto the ‘fast track‘, or the realm of the wealthy, where you can live on your investments and pursue your dreams. One of the things I realized when playing the game was that the rat race contained yellow ’donation’ squares. When you landed on those squares, you had the option of donating money.

If you chose this option, you received extra rolls of the dice with multiple dice. I refused the option initially and then realized that there was an advantage to making donations. You also received greater opportunities to earn and invest. Finally you increased your likelihood of passing over ‘downsized’ squares which meant you lost money and turns. The underlying lesson was that you ultimately received rewards for giving. I’m not saying that you should give strictly to get, but in our financial system the government does allow you to write off gifts to certain entities and thus lowering your tax.

“Did you get your taxes done yet? Did you get your taxes done yet? Did you get your taxes done yet?” That’s all I heard the first tax season I moved in with Dad just after finishing graduate school. He literally walked through the house asking me if I had done my taxes. I didn’t know why he cared so much, but it started to scare me. Just finishing my doctoral training, a period in which I didn’t have much money, I owed the IRS tax money that year. For those unfamiliar with the process, we had to pay estimated taxes on our $17,000 to $22,000 graduate stipends every year. So yes, the poor do pay taxes too.

Reducing Your Taxes

“I like to make gifts to things that are tax deductible!” One day we were at Dad’s desk, and he had a pile of solicitations from his alma mater and other charities. He made his poignant declaration as he pondered them. He prepared his tax returns himself at that time and it was quite the ritual every year as I observed him.

In hindsight, Dad was probably also feeling some anxiety himself. He lived in one of the highest taxed states in the country – New York. He also owned his home outright and probably wasn’t going to get much in way of homeowner related deductions. In other words, he was likely going to have to make payments to the federal and state governments.

This explains his preoccupation at that time with tax deductible gifts. Unfortunately, I don’t remember the exact verbiage, but we did have a talk about making charitable gifts to certain entities and lowering your tax payment. It was my first time learning these lessons and I was in my late 20s. I know that my mother put money into church in my younger years, but we never talked about the gifts being tax deductible.

Where Can You Make Tax Deductible Gifts?

Well, I just named a big one which will make a lot of people bristle in our increasingly secular society, church. Whether you want to admit it or not, churches are businesses, some bigger than others. Some also do more good than others. Not all pastors, for example, take the tithes and offerings to the church to buy expensive suits, fleets of fancy cars and private jets. Some churches actually use the money raised for missionary activities and helping the poor.

That said, if you belong to a church and give regularly, you will have the opportunity to deduct at least a portion of that money from your tax liability, regardless of what the pastor and the church do with it once you drop it in the plate or donate online. This also explained why Dad kept giving tithes and offerings to his church even when he stopped physically attending. Each week he dutifully wrote his check and put in the church’s envelope with the same smiley face on it. That smiley face always made me laugh. I or my then stepmother, would take it to the church on his behalf.

If you don’t attend church, what about making donations your alma mater? My alma maters are Johnson C. Smith University and the University of Michigan. Many people make generous donations to their alma maters every year. It’s the consistent donations from alumni that ensure that their alma maters maintain solid futures.

Other institutions experience anemic alumni giving and are not so fortunate, causing them to face a loss of accreditation and/or closure. The Historically Black Colleges and Universities are a good example of this. There are also scholarship funds like the United Negro College Fund. Furthermore, throughout the year and around the major holidays, there are regularly solicitations to feed the hungry, especially around the Thanksgiving and Christmas holidays. When watching TV and now online, there are opportunities to give for pretty much any cause around the world whether it be feeding hungry people, or relief from wars.

Again, giving is a wealth-building and maintenance strategy for certain demographics. Come election time, the wealthy regularly get demonized for not paying their ‘fair share’ of taxes relative to the middle and lower classes. I would once again point readers back to the above-mentioned book Cooperation and Coercion for a more substantive discussion of the validity of these claims. I’ll end this point by stating that the charitable giving and philanthropy these high net worth demographics make isn’t highlighted as much (or enough).

Giving Is A Personal Choice

There are several contexts for giving and generosity. It’s something I’ve had to conceptually piece together over my lifetime. My parents helped. The Rich Dad Poor Dad books helped. Dave Ramsey and his Financial Peace University curriculum helped. Life experiences have contributed as well. It’s been a process.

After finishing school and launching off into the adult world of work, one quickly learns that at any given time there can be multiple financial concerns and considerations pulling at you depending on your lifestyle. Perhaps you don’t earn that much money. Perhaps you’re just starting your career and live in an expensive metropolis. Perhaps you have a large student loan payment or are encumbered with some other massive debt. Perhaps your family is dependent on you as the breadwinner, and not just in the context of a nuclear family. In any case, sometimes you might have your hands full just getting your own financial house in order, and you don’t have money available to give.

It may not make sense to willingly give money away. I think the underlying principle in this world, though, is that when you bless others, you get blessed. As my mother often says, “It’s in the Bible,” and there are numerous scriptures which discuss this such as Proverbs 11:24-26 (Give freely and become more wealthy; be stingy and lose everything. The generous will prosper; those who refresh others will themselves refreshed. People curse those who hoard their grain, but they bless the one who sells in time of need.) If you’re not into biblical scripture, just know that under our current progressive tax code as described above, the Internal Revenue Service (IRS) allows you to deduct monetary gifts to nonprofit entities from your tax liability. And finally, there are advantages to paying fewer taxes or none at all.

Closing Thoughts On Tax Deductible Gifts

Thank you for reading this piece. I didn’t write this narrative to tell anyone how to give as everyone’s life is unique. Furthermore, I am not a financial professional, and I am not rendering advice. My intent is to present the information and let the reader decide. This story was rooted in one of many memorable experiences with my father, a retired educator, and it just so happens that I’m publishing it around Father’s Day 2022. Here on the Big Words Blog Site, most of the content published these days is from customers by way of shorter, informational pieces. As the owner of the site I like to publish something of my own from time to time. I started writing this piece months ago, and with the many other things I have to do, I was only able to finish it now.

Author’s Thoughts/Reflections

Tax deductible gifts are a really big deal, and many people give with their tax liabilities in mind. I’m recalling a couple of our Johnson C. Smith University Washington DC Alumni Chapter meetings where members wondered how their gifts to the school would be handled in terms of tax, if they were given through the chapter itself instead of independently.

We often learn a lot from our parents through observation. Many of the life lessons from my father have been money-related. Many of those lessons have involved being very careful with it which can be a strength in some contexts, while it can be a source of conflict and ire in others. As with most things in life, I’ve learned a balance is good and optimal.

The Big Words LLC Newsletter

For the next phase of my writing journey, I’ve started a monthly newsletter for my writing and video content creation company, the Big Words LLC. In it I plan to share inspirational words, pieces from this blog and my first blog, and select videos from my four YouTube channels. Finally, I will share updates for my book project The Engineers: A Western New York Basketball Story. Your personal information and privacy will be protected. Click this link and register using the sign-up button at the bottom of the announcement. Regards.

Tips For Starting A Food And Beverage Manufacturing Business

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. An important sector of our economy is the food and beverage industry. If you want to start in this sector, there are some tips that you need to be aware of. The following contributed post is entitled, Tips For Starting A Food And Beverage Manufacturing Business.

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Starting a food and beverage manufacturing business can be an incredibly lucrative endeavor. However, there are a few things that you need to keep in mind before getting started. The following blog will discuss some of the essential tips for starting your own food and beverage manufacturing business!

Photo by ELEVATE

1) Have A Solid Business Plan In Place

One of the most important things that you need to do when starting a food and beverage manufacturing business is to have a solid business plan in place. This business plan should include everything from your target market to your financial goals. Without a strong business plan, it will be challenging to make your business successful.

Make sure to do research and put together a comprehensive business plan before starting your food and beverage manufacturing business!

2) The Right Building Will Make All The Difference

Another important tip for starting a food and beverage manufacturing business is to make sure that you have the right building in place. The last thing that you want is to set up shop in an old, run-down warehouse. Not only will this give your customers a bad impression, but it could also lead to health code violations.

Make sure to find a clean, modern facility with urethane flooring that meets all of the necessary requirements for your food and beverage manufacturing business!

3) Invest In The Right Equipment

One of the most important investments you’ll make when starting a food and beverage manufacturing business is in the equipment you’ll need to get started. Depending on the products you plan on making, you’ll need to purchase specific types of machinery and equipment. Do your research to determine what type of equipment is best for your needs and budget. Once you have the right equipment, you’ll be able to produce high-quality products that will meet customer demands.

Another essential investment to consider is in packaging materials. You’ll need to find sturdy, reliable packaging that will protect your products during shipping and handling.

4) Hire Qualified Staff

One of the most important things you can do for your food and beverage manufacturing business is to hire qualified staff. You’ll need to find individuals who have experience in the food and beverage industry and who are passionate about what they do. These individuals will be responsible for ensuring that your products are of the highest quality and that they meet customer demands.

Make sure to take your time when hiring staff for your food and beverage manufacturing business. You want to ensure that you’re only bringing on board individuals who will help contribute to the success of your business!

In conclusion, these are just a few tips to keep in mind when starting a food and beverage manufacturing business. Be sure to have a solid business plan in place, invest in the right equipment, find the perfect facility, and hire qualified staff. With these tips, you’ll be well on your way to making your food and beverage manufacturing business a success!

What Equipment You’ll Need For Your Backyard Landscaping Project

Two focuses of my blog are Home/Living Discussions and Home/Property Discussions. If you have a yard, it’s a major of your homeownership as you’ll want it to be properly managed and manicured. The following contributed post is entitled, What Equipment You’ll Need For Your Backyard Landscaping Project.

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If you’re planning to take on a backyard landscaping project this year, then it’s essential to make sure you have all the necessary equipment. Not having the right tools can cause delays in your project and may even lead to frustration. The following blog will outline all of the equipment you’ll need for your backyard landscaping project.

Photo by Mike B

1) A Good Quality Lawn Mower

This is probably the essential piece of equipment you’ll need for your project. A good-quality lawn mower will make it much easier to keep your lawn looking neat and tidy. There are a variety of different types of lawn mowers on the market, so be sure to do your research before making a purchase.

-Gasoline Powered Lawn Mowers: These are the most common type of lawn mower, and they’re ideal for larger yards. They’re also relatively easy to operate. However, they can be quite expensive to purchase and maintain.

-Electric Lawn Mowers: These are becoming increasingly popular as they’re more environmentally friendly than gasoline-powered mowers. They’re also very quiet, which can be a significant advantage if you live in a busy neighborhood. However, they may not be powerful enough for large yards, and they can be quite expensive to purchase.

2) Mini Excavators

If you’re planning to do any landscaping that involves digging, then you’ll need a mini excavator. This piece of equipment is essential for any serious landscaping project. Mini excavators can be rented from most construction equipment rental companies.

-Bobcats: Bobcats are a type of mini excavator that is very popular for backyard landscaping projects. They’re relatively easy to operate, and they’re small enough to maneuver in tight spaces. However, they can be quite expensive to rent.

-Backhoes: Backhoes are another type of mini excavator that can be used for backyard landscaping projects. They’re larger than bobcats, and they’re more powerful, but they can be more challenging to operate.

Whatever type of mini excavator you choose, be sure to familiarize yourself with the controls before using them and be sure to Click here for more information.

3) A Good Quality Weed Whacker

A weed whacker is an essential piece of equipment for any backyard landscaping project. A good quality weed whacker will make it much easier to keep your lawn looking neat. There are a variety of different types of weed whackers on the market, so be sure to do your research before making a purchase.

-Gasoline Powered Weed Whackers: These are the most common type of weed whacker, and they’re ideal for larger yards. They’re also relatively easy to operate. However, they can be quite expensive to purchase and maintain.

-Electric Weed Whackers: These are becoming increasingly popular as they’re more environmentally friendly than gasoline-powered weed whackers. They’re also very quiet, which can be a significant advantage.

In conclusion, these are just a few of the pieces of equipment you’ll need for your backyard landscaping project. Be sure to do your research and purchase quality equipment that will last. With the right tools, your backyard landscaping project will be a success!

Tips For Decorating The Interior Of Your New House

Two focuses of my blog are Home/Living Discussions and Home/Property Discussions. In addition to buying your new house in the smartest way, you also want to decorate it to your satisfaction. The following contributed post is entitled, Tips For Decorating The Interior Of Your New House.

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When you are moving into a new house, interior decoration can be a daunting task. There are so many things to consider – what style should you go for, what colors should you choose, and where should everything go? Another important question is what is the best place to order furniture online? The following blog will give you some tips on how to decorate the interior of your new house stylishly and cohesively.

Photo by Terry Magallanes

1) Take A Look At The Overall Layout Of Your New House

Before you start decorating, it is essential to take a look at the overall layout of your new house. This will help you decide on the best way to utilize the space and how to create a flow between different rooms. For example, if you have an open-plan living area, you might want to consider creating separate zones for different activities.

If you are unsure about the layout of your new house, don’t hesitate to ask for help from a professional interior designer. They will be able to give you expert advice on how to make the most of your space.

2) Choose A Color Scheme

One of the most important aspects of interior decoration is choosing a color scheme. This will be the foundation of your entire design, so it is essential to take some time to think about what colors you would like to use.

If you are struggling to decide on a color scheme, many online resources can help you. Alternatively, you could ask for help from a professional interior designer. They can give you expert advice on which colors would work well in your new house.

Once you have chosen a color scheme, it is essential to stick to it when selecting furniture and other decorative items. This will create a cohesive look throughout your house.

3) Make Sure You Choose The Right Fabric

When you are choosing fabric, from a fabric sample book, for your new house, it is essential to think about both practicality and style. You will need to consider things like how often the fabric will be used, whether it needs to be durable, and whether it is easy to clean.

It is also essential to consider your new house’s style when selecting fabric. For example, if you are going for a more traditional look, you might want to choose fabrics with floral patterns or rich colors. Alternatively, if you want a more modern look, you might want to choose simple fabrics with geometric patterns.

4) Add Some Personal Touches

One of the best things about decorating your new house is that you can add personal touches to make it feel like home. This could be anything from family photos to pieces of art that you have collected over the years.

Adding personal touches will make your house feel more comfortable and inviting. It is also a great way to show off your personality and style.

In conclusion, these are just a few tips to help you decorate the interior of your new house in a stylish and cohesive way. By taking the time to plan your design and choose the right colors and fabrics, you can create a beautiful home that is perfect for you and your family.

Quick and Easy Ways to Make Money From Your Phone

Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. With the invention of the smartphone, a host of new possibilities were also created. The following contributed post is entitled, Quick and Easy Ways to Make Money From Your Phone.

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There are many ways you can start a side hustle and earn some extra cash. However, this can take a lot of time and investment. If you are looking to make quick money without a large monetary or time investment to get you started, then there are plenty of alternatives from the convenience of your phone.

Mobile phones have only become more sophisticated with time, and you are now able to house everything on a small device, from your photos and contacts to streaming your favorite Netflix shows and making money.

Put your smartphone to good use and make some extra cash. Here are some of the top ways you can make money from your phone that are quick and easy to do.

#1 Market research firms

There are a plethora of market research firms around the world that will allow you to sign up and take part in the research. Some of the easiest ways you can do this are to sell your data. Once you have found a company you are happy to work with and installed their app, you don’t have to do anything else for it. Market research firms will use your data for their research and in return, you get paid for it.

#2 User testing

There is a demand for user testers all around the world. Many big brands want people to test their applications and websites before they go out to market. You can do all of the user testing from your phone. All these companies ask for in return is feedback that will help them improve their branding, websites and services. You can simply test websites and leave reviews, or you can take part in online interviews (which can be done on your phone if you have a video conference app installed).

#3 Betting

Betting is a fun, convenient and easy way to earn some extra money from your phone. It is also extremely simple to get started with. There are many types of betting that you can get involved in, and many that carry fewer risks, for example, binary options, which come with two different payouts. You just need to find reputable binary options trading brokers to help you get started.

#4 Surveys

If you have 5-10 minutes per day, then you may wish to work through some surveys. These are simple to complete and can be done on your smartphone. There are a variety of different surveys to choose from, some are a few minutes and some are much longer. You can opt for cash, or gift cards in return for your time.

#5 Investment apps

If you don’t need cash right now, you can use your smartphone to invest your money to help you secure your future. There are a variety of apps on the market, for example, Betterment, that can guide you to invest and take control of your money. Many of the applications will enable you to create your own goals, that will help you to create a plan tailored to your budget and needs. This is a great and hassle-free way to get started with investing and making money.

If you don’t have the time or desire to start a side hustle, but you would like to earn a little extra money, these are some of the top ways to get started using your phone.

How To Make Yourself A Better Candidate

Two focuses of my blog are Career Discussions and General Education. No matter which career or path in life you choose, you have to think about how to keep improving. The following contributed post is entitled, How To Make Yourself A Better Candidate.

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The job you really want isn’t only the job of your dreams; if it’s as good as you think it is, then it’ll be the job of many other people’s dreams, too. And that means that there’ll be plenty of people applying for the position. Of course, you likely did not need us to tell you that. If you’ve applied to any worthwhile job in your adult life, then you’ll know just how competitive the best jobs can be.

That’s not something that you can change. However, what you can influence is how appealing you are as a candidate. In this blog, we’ll look at some tried and tested tips for doing just that. Take them all on board, and you’ll likely find that you get called for many more interviews than before!

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Continue Improving Yourself

You’ll be raring to go once you enter the job market. But a job might not come straight away. In some cases, you might be waiting a while for your dream job to come along. In the meantime, you can help elevate your chances of being successful by continuing to improve yourself. This could take the form of studying courses, improving your skills, or anything else. That way, when you do make it to the interview round, you’ll be able to talk about what you’re currently doing, not only what you’ve done in the past.

Put Yourself In a Position To Succeed

You can enhance your chances by putting yourself in a position to succeed. By this, we mean reading up on what you may need to do in order to be offered a job. Many companies, especially big companies, have their own hiring process, and not every aspect of this process is a mystery. If you were applying for Boston Consulting Group, for instance, then you could learn about the BCG pymetrics test. Google also has its own set of thought-provoking questions that it asks candidates, many examples of which you can find online.

Only Apply For Jobs You Want

It takes a lot of work to apply for a job. Or, at least, it should. If you’re applying for any and all jobs as a way to increase your chances, then we’ve got some bad news — you’ll probably be reducing your chances of receiving a positive response. It’s important to only apply to the jobs that you really want, as this will ensure that you put in the necessary amount of time. While companies do receive a lot of applications, the majority will be pretty low-quality. Stand out from the crowd by really making your application a good one.

Read Widely About Your Industry

Finally, you can show your prospective employers that you’re serious by showing that you know not only about their company but about the industry they work in. If you can show that you have a deep understanding of the industry, then you’ll be making yourself valuable. Employers always want to have experts on their team, and that’s just what you’ll be.

Money-Saving Strategies For Small Businesses

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When you run a business, you want to make sure to ensure profits, but you also have to figure out how to you save money as well to maintain operations so that you’re always cash flowing. The following contributed post is entitled, Money-Saving Strategies For Small Businesses.

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Balancing the books is one of the most difficult challenges for small businesses. Most startups and small companies operate on tight budgets, so it’s hugely beneficial to capitalize on opportunities to save. Generating profits doesn’t just boil down to bringing money in. It also depends on controlling spending and regulating outgoings. In this guide, we’ll explore some money-saving strategies for small businesses.

Flexible staffing structures

Staff wages account for a significant proportion of expenses for most employers. In some cases, it’s not possible to explore an array of options, but often, business owners can save by embracing flexible systems and structures. If you have a small core team, for example, you could consider options such as offering short-term contracts for specific projects or seasonal work, hiring temporary employees, adding part-time staff or outsourcing. Outsourcing is an increasingly popular option for businesses of all sizes because it facilitates access to additional services and skills without adding to the wage bill on a permanent basis. Examples of services and tasks that can be outsourced effectively include digital marketing, cleaning, IT support and logistics.

Image source: https://pixabay.com/illustrations/recruitment-agency-outsource-3182373/

Saving on technology and equipment

Most businesses rely on equipment, technology, tools and supplies to provide customers with products and services. The cost of buying and maintaining equipment can spiral. If you’re looking to upgrade technology, replace tools or buy equipment or supplies for your company, it is worth comparing prices, getting quotes for hire packages and looking for ways to save by buying surplus or second-hand equipment. For glassware, furniture or kitchen equipment, for example, search for discount restaurant supplies, compare hire prices versus purchase costs and look for companies or stores that offer used and preloved products. For retail units and cafes, you could look for second-hand fittings and try upcycling furniture.

Reducing energy consumption

The cost of gas and electricity has risen sharply in the last 12 months. Reducing energy consumption is an effective way to lower bills and make a positive contribution to the environment. There are multiple ways companies can reduce consumption, including boosting energy efficiency by upgrading to smart appliances and swapping old light bulbs for newer versions, using sensors and thermostats to prevent wasting energy and insulating business premises. If you use company vehicles, or you have a business fleet, it’s also worth exploring green vehicles. Electric and hybrid cars are often more expensive to buy but you can start saving on running costs immediately. You can also implement policies and guidelines to encourage your staff to use less energy. Even the smallest things, like turning computers and electrical appliances off at the socket, can make a difference.

Picture credit: https://www.pexels.com/photo/white-and-orange-gasoline-nozzle-110844/

Financial issues are the most common cause of business failure. If you run a small business, and you have a tight budget, you can increase profits by boosting sales and reducing expenses. Look for ways to lower spending by exploring flexible staffing structures, searching for the best deals on equipment, tools, resources and supplies, upgrading to smart technology and lowering energy consumption. If you can increase your income while reducing spending, your books should look much healthier.

Do Timely Maintenance and Repairs

Any business owner knows that saving money is essential to success. After all, the bottom line is what matters most. One way to save your business money is by investing in regular maintenance and repairs. You can proactively address potential issues instead of waiting for something to break down. This can often be done at a fraction of the cost of repair or replacement. In addition, regular maintenance can help extend your equipment’s life, saving you even more money in the long run. For example, professionals should take care of commercial air conditioning repair in a timely manner. By taking a proactive approach to maintenance, you can save your business money and keep it running smoothly for years to come.

Explore funding streams

Many business owners borrow money to set up a company or grow their venture. If you’re ready to take the next step and try to expand, it’s beneficial to explore funding streams and weigh up the pros and cons. Some options may be more accessible than others, and it’s also important to consider the cost of borrowing. Check terms and conditions and interest rates and look into options like working capital financing. Try to avoid borrowing large sums if you’re in debt and your company isn’t yet showing signs of generating profits within the next 12 months. It’s best to start small, pay back loans and then borrow more if you’re in a position to grow the business further. If you borrow too much, you may struggle to get back into the black.

5 Critical Things To Think About Before You Embark On Any Construction Project

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“No matter what kind of construction project you’re embarking on, it’s critical that you take the time to define the scope of work.”

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Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A construction business is like any other business in that there are keys to success and failure. The following contributed post is entitled, 5 Critical Things To Think About Before You Embark On Any Construction Project.

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There are many kinds of construction projects. However, no matter what kind of construction project you’re undertaking, there are certain critical things you need to think about before you get started. Here are 5 of them:

Define the scope of work

No matter what kind of construction project you’re embarking on, it’s critical that you take the time to define the scope of work. This means clearly outlining what work will be done, whether it includes demolition before the construction can begin, who will be responsible for doing it, and when it needs to be completed.

Indeed, the who and when of a construction project are vital aspects because you will need the help of specialists at every stage of the process. For example, you may need to use a concrete demolition contractor to help you prepare the site for construction. The good news is that by choosing an expert in this field you can be sure they will not only complete a quality job but will carefully clear up the site as well, making the next stage of the process that much easier.

Create a budget and timeline

Before you embark on any construction project, it is critical that you create a budget and timeline. This will ensure that the project stays on track and within budget. The demolition process is one of the most important and costly aspects of any construction project. Therefore, it is important to have a clear plan and budget for this process.

Also, it is important to have a clear timeline for the project as a whole. This will ensure that all aspects of the project are completed in a timely and efficient manner.

Identify the materials you will need

When embarking on any construction project, it is critical to think about the materials you will need. Depending on the type of project, the materials you need may vary. For example, if you are building a house, you will need lumber, nails, and drywall. On the other hand, if you are building a deck, you will need lumber, nails, and decking material. By identifying the materials you will need ahead of time, you can be sure to have everything you need on hand when it is time to start construction.

Understand the permits required

Before you embark on any construction project, it is critical that you understand the permits required. Depending on the scope and size of your project, you may need a variety of permits from the city, county, state, or federal government. Failure to obtain the proper permits can result in delays, fines, and even legal action.

Think About Equipment Efficiency

Another important consideration many overlook is the kind of equipment you’ll need to move materials around the site. For larger builds or jobs that require heavy lifting at different angles and heights, using the right machinery can save time and reduce risk.

Actually, here’s a nice example: looking into rotating telehandlers for sale can be a smart move, since they offer 360-degree rotation, making it easier to maneuver loads without constantly repositioning the entire machine. Of course, this is one example, but the message is that sometimes you might need more than the average machines and equipment if you truly want to be efficient.

Prepare for the unexpected

It’s always important to be prepared for the unexpected when embarking on any construction project. By having a plan in place for potential problems that could arise, you can save yourself a lot of time and money in the long run. Make sure to have a contingency fund set aside in case something does go wrong, and don’t be afraid to ask for help from professionals if you’re ever in over your head. With a little preparation, you can avoid major headaches down the road.

Conversation Starters: 3 Interesting Tools You Probably Didn’t Know About

A key focus of my blog is Technology. Today there are tools to help facilitate conversations that weren’t available years ago. The following contributed post is entitled, Conversation Starters: 3 Interesting Tools You Probably Didn’t Know About.

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There’s no shortage of new technology tools on the market these days. In fact, it seems like every day, there’s a new app or software that’s designed to make our lives easier. While some of these tools are definitely worth your attention, others can be easily forgotten about. In this blog post, we’ll look at three interesting tools that you probably didn’t know about and how they can help spice up your conversations!

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1) Salesforce Einstein

Salesforce Einstein is an artificial intelligence tool that allows you to automatically prioritize your sales leads, create custom predictions, and get real-time insights into your customer’s behavior. This tool is great for keeping your sales pipeline full and for understanding your customer’s needs better. Einstein can be a great conversation starter because it is still a relatively new tool, and not many people know about it. You can start by asking your conversation partner if they have heard of Salesforce Einstein and then explain what it is and how it works. If they are interested, you can even go into more detail about how it has helped you in your sales career. If they are not familiar with Salesforce Einstein, you can use it as an opportunity to educate them about artificial intelligence and its potential applications. This can be a great way to start a conversation about the future of technology and its impact on our lives.

2) Expert Advisor

This tool is perfect for people interested in forex trading. It is a great conversation starter because it allows you to talk about your passion for forex trading and how you use this tool to help you make money. An expert advisor is a tool that can trade for you automatically. This means that it can analyze the market and make decisions for you. The fx robot is a great conversation starter because it raises questions about the future of technology and its impact on our lives. For example, will robots eventually replace human traders? Will they be able to make better decisions than humans? In addition, when talking about the fx robot, you can talk about the risks and rewards of forex trading.

3) Zoho Creator

Zoho Creator is a low-code application development platform that enables users to develop custom applications without writing code. It features a drag-and-drop interface and comes with a wide range of built-in templates and components that can be used to develop custom applications quickly. Zoho Creator is a great platform for developing simple, custom applications without the need for coding skills. Despite its simplicity, Zoho Creator is a powerful platform that can be used to develop complex applications. It offers a wide range of features and integrations that allow users to customize their applications to meet their specific needs. Additionally, Zoho Creator offers excellent support and documentation, making it easy for even non-technical users to develop custom applications.

These are three interesting tools that you probably didn’t know about. These tools can be great conversation starters because they are new, interesting, and offer great potential for discussion.

3 Reasons Why Your Career May Be Stalling

Two focuses of my blog are Career Discussions and General Education. Once you’ve started your career, at some point you’ll like ponder how to continue to move forward in it. This is especially true if and when it stalls. The following contributed post is entitled, 3 Reasons Why Your Career May Be Stalling.

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According to some reports, 50% of Brits are expecting to change their professions, while others seek answers to explain the slowdown in their careers. Indeed, the reasons are many, but few people take a moment to find out why. Sometimes, it is a professional burnout, and other times, it may be due to a general lack of interest in what used to excite you. Below is a discussion of these and other possible reasons for stalling careers.

1. You’re engaged in the wrong job

The first question to ask yourself is why you’re currently working in a particular role. Did you apply for the job simply because you needed to make a living? Or did you get engaged in the role because you felt you had something to offer? If your answer is close to the first question, that may be the reason your career is stalling. You probably got the job because it filled an immediate need and would pay the bills.

When this happens, the possibility of growing indifferent to the role and your current career may be greatly increased. If financial motivation is the only reason you got into the job, you could experience a stall in your career. The general lack of interest becomes the fuel that drags your career to the ground. Experts advise that there should always be a potent personal reason apart from money when choosing a career.

2. You stopped committing time to personal development

When was the last time you enrolled in a professional development course? Do you still find a reason to study more about your field? There are new demands for careers, and without continuous development, you may find yourself lagging. Even worse, your career may grind to a halt because you don’t seem to know the latest trends in your field. For example, the IT world continues to evolve rapidly due to technological advancements. If you fail to learn new trends, you may not be useful in the role in a few years. What happens subsequently is a stall in your IT career. Indeed, this can happen in any professional field. And it is up to you to find solutions. Career advancement doesn’t happen just by showing up for work. Your actions and inactions play significant roles in your success.

3. A slowdown in the industry you’re in

Due to technological advancements, some ‘professions’ have become obsolete since human resources are no longer needed. For example, lift operators no longer exist since anyone can operate one these days. More recently, the pandemic caused industries worldwide to drastically slow down. Many organisations let go of millions of employees worldwide, and some careers recorded a tremendous slowdown.

Admittedly, an industry slowdown may not be your fault, but when it happens, it would be advisable to be proactive. For example, during the pandemic, healthcare-related workers were in high demand, and you could easily take a health and social care course to join the field. Therefore, you have the choice to move on to the next industry or find ways to be relevant in your current role.