Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Once you start a business, it’s either going to grow and sustain itself or it will fail. There are indicators though that it is or will thrive. The following contributed post is entitled, Sure Signs You Are Leading Your Business Right.
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Leadership is one of the most important aspects to running any business. If there is strong leadership, and it is effective, then the goals and aims of the company are that much more likely to succeed. Not only that, but the customers are going to be happier, products will fill the shelves more easily, and so many other benefits besides. So how can you know whether a business is being led right? Here are some of the very clear signs that you are leading your business in the right manner.
You need to have not only daily goals to follow, but also more long-term achievements which you can be happy with too. In fact, what you will find is that if you are properly focusing on one, the other will soon and swiftly follow. So it’s important that your daily goals are relevant and that you work hard towards them, while also ensuring that these are designed in such a way to lead to more long-term achievements. If you can do that, it’s a sure sign that you are leading your business in exactly the way you should for its future success.
Your Idols Would Be Proud
Most of us have one or two professional leaders whom we look up to, and whom we would like to be like. If you have someone in mind who fits this category, then you might want to think about what they would say of how you run your business. It is a good idea to carry out deeper research on them. For instance, see this link here for advice from Tim Cook. If you know for certain that they would be proud, then you are moving in the right direction. If not, or if there is any doubt, you might want to think about what you’ll need to change.
The Business Is Growing
For most entrepreneurs, growth is the be-all and end-all. As long as the business is getting bigger and you are able to upscale as much as you want to, this is a sure sign that you are getting all you need out of it, and this must be because you are leading it in the best way possible. If it is not growing, but instead seems to be staying still, then you might want to go back to the drawing board and see what might need to be done differently.
It is not always easy to know exactly what your people think of you, but if you can get an honest opinion from a good percentage of them, then this is going to be really useful information and an insight into whether or not you are leading your business in the best possible way. The best way to find this out is with the use of an anonymous form, so people feel free to speak up about any grievances and be more honest with you. This is really useful data to have, so don’t shy away from it.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A key running a successful business is its organization and maintaining some semblance of order and logic. The following contributed post is entitled, 4 Organization Tips Your Small Business Needs.
If you’re wanting to ensure your business’s success, then it’s best to understand that organization is key. You want to be organized and stay organized in what you’re doing. There is something so refreshing about keeping organized anyways. Just having your workspace neat and tidy, knowing where everything is on your computer, and knowing where to find all those important files. In general, being organized will save you from dealing with massive amounts of stress. It’s also going to save you from taking time out of your day or even your teammate’s days from having to look for something. If you’re wanting to get your business to become far more organized then these tips can help you out!
Create a to-do list the day before
Whether you’re working alone or you have a whole team, this is going to help a lot. Going into work with a plan is going to make the day go by much more seamlessly. Plus, the to-do list is the universal language of business organization anyways. Try to get everyone on your team to create a to-do list every day and to follow along with that to-do list. Just jotting these things down whether it be improving your content, going to a meeting, or anything else should all be included. Even if you have the same tasks that you do every day, you can add some smaller, more unusual tasks to your to-do list as well.
Look into helpful software or other tools
Sometimes all it really takes for getting more organized can be as simple as getting the right tools. Nowadays, there is software out on the market that can do a number of things and that even includes getting a whole company to be more neat and organized. Technology has truly advanced and is making business-goers’ lives a little easier. One thing to look into could be equipment lifecycle management as this could help if your business is in the medical field. In general, using helpful management tools is not only more eco-friendly as you’re not using paper, but they can help out a lot as well with keeping the team organized.
Respond to emails as soon as you open them up
There’s no doubt about it that one of the most dreadful parts of a workday would be replying back to emails. There’s something about emails that really pushes people into being a bit scattered brain as well. While emails aren’t fun to do, you’re far better off with responding to messages sooner rather than later. If you push them off to a later time then there is always the chance of forgetting. So the best course of action would be to respond as soon as you open up the email.
Consider automation
Automation has been making work go a lot easier for business owners. There are a variety of tasks that can be done thanks to automation. A great example would be apps such as Calendly which automate meeting schedules without the whole back-and-forth appointment. Some other great examples would be for marketers out there, as social media content can be scheduled with tools such as Hootsuite.
Two focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. In current times, it’s not practical to do everything in person. Likewise, many tasks can be done virtually. Real estate is no different. The following guest post is entitled, Creating an Engaging Real Estate Virtual Tour.
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The COVID-19 pandemic highlighted the significance of adding virtual tours of real estate properties for sale or rent. One statistic revealed that they can generate up to 5 million visits a day. These tools can influence the real estate market, provide leads, and boost transaction dollars.
But here’s the problem: almost all real estate websites these days use virtual tours. How do you make yours stand out? Here are the tips you need:
1. Use 2D and 3D
Some virtual tours are simply flat images/photos of rooms interested buyers can view from various angles. These kinds of tours are acceptable, but why settle for them when you can use 2D and 3D?
2D virtual tours run by still photos shot from various angles. Some are set on a virtual “turntable” that allows you to “spin” the image around for an all-around view. 3D virtual tours, however, are far more interesting and engaging. Professionals use special software with CAD-like capabilities to produce highly accurate digital renderings of rooms. Buyers can virtually “walk” through a space and look at everything from every angle-even look under countertops.
2. Elevate with AR and VR
You can also add even more dimension to your virtual tours with augmented reality (AR) and virtual reality (VR). Using augmented reality art adds a layer of digital information on top of a photo. You can use it to show the room in various phases-place furniture where you’d like it in your own space-or show the room in the evening with lights on.
Virtual reality takes AR to the next level. Users experience an immersive 3D world that feels entirely realistic. You can use this technology for things like helping buyers imagine themselves in a space or even showing off the interiors of a building even before builders complete it.
Real estate companies are less likely capable of making 2D and AR virtual tours, but they can hire experts to produce the videos they need.
3. Incorporate Social Media
Consider incorporating social media platforms to increase the reach of your virtual tours. This is a good strategy for getting more engagement for any digital content-including video-you create. After all, Facebook has made it easier and easier for people to share videos.
You can also leverage social media with these ideas:
• Enable users to share your virtual tours on their social media accounts. • Use hashtags in your descriptions and the photo filenames themselves. • Add a link to the tour in your email signature. • Add a note about driving traffic to your site where they can view it.
4. Complement Your Virtual Tours with a Concise Property Description
Remember, your virtual tours aren’t the only content you’ll want to include on your property listings. You should give potential buyers or tenants a quick and engaging rundown of what your place is all about.
Give them specifics about location, amenities, and anything else that will help them make a decision. In fact, many real estate professionals add “quick facts” to their listings.
You can also add the following:
• A Google map of the location • A short bio or company information about the developer • A list of comparable properties
5. Use Virtual Tour Videos and Images on Blogs and YouTube
Contrary to what many believe, blogs are not dead. Real estate agents and brokers can still use them to drive traffic and sell properties. But you need to elevate your content using virtual tours.
You can find dozens of blog post ideas about using visual content. But here are a few effective ways you can use virtual tour images and videos on your blogs:
• Feature different rooms in the home or building. For example, you can do this by using 360° photos that readers can pan around. If you have AR or VR tours available, you can use those images to show readers how things will look in their spaces. • Add a caption for each image and video to provide additional details. • Incorporate-or encourage readers to contribute-their photos and videos of the property as well as any other memories they may have of it. • Comment on what buyers love about the place and why they’re sad to see it go.
Meanwhile, a joint study between the National Association of Realtors(NAR) and Google revealed that YouTube is the primary research destination for home shoppers. Creating a YouTube channel using virtual tours can help you reach more prospective buyers.
Virtual tours are more than just photos. They’re an effective way to get buyers excited about a property, whether it’s for sale or already their own. If you haven’t considered using them yet, now is the time to start.
Three focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. No matter what kind of business you’re running today, technology is likely playing a major role in your operations. As such, you must figure out how to keep it operating as efficiently as possible. The following contributed post is entitled, Keep Your Business’ IT Systems Working In These Ways.
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Any business needs to make sure that their IT systems are working as fully as possible at all times – otherwise it is going to be pretty much impossible to keep everything in full alignment across the enterprise. If you run a business and you are keen to try and make sure of this, then there are a lot of things that you might want to bear in mind along the way. Let’s take a look at some of these in particular, so you can ensure that your IT systems keep on working as fully as you would hope.
One of the main things that you need to do is to focus on the safety and security of your systems as fully as you can. As long as they are safe and secure, all else is going to fall into place pretty much straight away, so that is definitely something that it is worth looking into if you are keen to make sure of this. That means having strong security systems in place, and doing whatever you can to preempt any issues that might crop up in this area. Do this well enough, and your systems should be in a much better place in no time.
Get A Consultant
You never quite know exactly what needs to happen in order for your systems to be kept in order, which is why it’s a good idea to have a professional who does know exactly what it is going to take. Such an individual or company will ensure that your IT systems are always doing what they need to and in the right manner, so this is something that you should definitely focus on getting as soon as possible. Some IT consulting is always going to help your systems to be in a much better state.
Be Proactive
Because you want to be right there to ensure that nothing goes wrong, it’s important that you are being as proactive as possible when it comes to your IT systems. This means that you have the right managed IT help that is going to watch for issues and make sure that they are dealt with either before they really happen, or as soon as possible after they do. This ensures the system is kept in the best possible shape at all times, and it’s something that you really won’t want to overlook if you can help it.
Everyone and anyone who uses the systems, even a small part of them, is going to need to have the proper training in order to ensure that their use of it is not damaging to it. So, make a point of training people up wherever you can. This includes when they are onboarded but also at regular intervals thereafter, and you should make sure that you keep on top of this as best as you can. It really will make a difference to how good your systems are in general, so it’s something to think about.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Running a business is not just about making the money. You also have to manage your cashflow and other aspects. The following contributed post is entitled, 5 Tips For Maximizing Your Business Finances.
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Starting a business is hard work. You have to be dedicated and willing to invest in your company. It takes a lot of time, energy, and financial resources to get off the ground. It’s been reported that 20% of startups fail within the first year.
For your company to succeed, you need to plan out your finances. How much money do you need? What type of business should you start? And how can you get more customers? The following tips will help maximize your business finances.
Constantly Review Expenses
The most important thing you can do with your company finances is keeping track of your expenses. One way to do this is to use a spreadsheet to list all of your costs in one place. This will allow you to see what’s coming in and what’s going out.
The more organized you are with your company, the easier it will be to make financial decisions. Plus, if someone else were handling your business finances, they could easily see where all the money is going.
By organizing your finances, you also have better control over them because you’re always looking at them.
Work with a CFO
A chief financial officer (CFO) is an expert in managing your company’s finances. They can help you set up budgets for your company, forecast your cash flow, and much more.
Think about it this way: You might be the best at designing clothes, but when it comes to accounting, you may not know the first thing about how to handle your business’ finances. A CFO will help take some of that burden off of you by providing advice on how to reinvest in your company.
The right fractional cfo will also invest in your company in a way that aligns with your long-term goals. They’ll offer sound investment advice, which is invaluable whether you’re new to running a business or have years of experience.
Reduce Debt
You also need to keep an eye on your debt. Debt can often hinder your ability to grow your company, so you must do what you can to reduce the amount of debt you have. If you need help reducing your debt, speak with a business finance expert or financial advisor who can help offer solutions for reducing your debts and work out a plan for managing them in the future.
It may even be worth looking into experts who can help you get some more cash for your business, assisting you with reducing your debts. For example, take a look at Grants Assist reviews to find out what they can do for you, and what kind of grants they can help you find. It might not amount to anything, but you’re never going to know until you try.
Look At Your Pricing Structure
One of the best ways to maximize your business finances is to look at your pricing structure. Pricing your products appropriately will not only help you make more money, but it’ll also show customers that they’re getting real value for their purchase.
Pricing structures are all about finding what works for your particular business. You want to charge enough that people will buy but not too much that they think they’re being taken advantage of.
Market research is vital when determining prices for new products and services. Find out how much other similar businesses are charging and set yours accordingly.
Invest In The Right Technology
Technology is a necessity for any business looking to succeed. It’s been reported that 96% of companies today require computer access to do their job.
Specifically, you should invest in technology to help you do your job better and faster, thus saving you money. For example, if you’re a business owner who deals with payroll, investing in payroll software will help automate many of your tasks and make your life easier.
Two focuses of my blog are Financial Literacy/Money and Technology. Bitcoin and the other cryptocurrencies are now the talk of the financial world. Some swear that they are the wave of the future, while others are not so convinced. If you’re going to get involved with in this area, there are somethings you should consider. The following contributed post is entitled, What You Need To Know About Bitcoin And How It Can Help You Become More Financially Independent.
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How would you like to be able to stop living paycheck to paycheck? How about not having to worry about the next bill that is due or the money for your child’s college tuition? Bitcoin can help with all of these things. This blog post will discuss what bitcoin is and how it can help you become more financially independent.
Bitcoin is a cryptocurrency that was established in 2009 by Satoshi Nakamoto. It can be used to buy things or send money without involving banks, credit card companies, and other third parties like PayPal (which takes fees).
The first thing you need to know about bitcoin is that there are no physical bitcoins. Bitcoins exist only as computer files; the entire currency consists of nothing more than unique numbers protected by digital encryption. You should also note that not all countries recognize bitcoin as legal tender. For example, it’s banned in Iceland because the government says its value has been too unstable for them to put trust in it! But people use it there anyway since they don’t have any rules against using cryptocurrencies at this time. Secondly, bitcoins are created through a process called “mining.” Miners use powerful computers to solve complex mathematical problems in order to verify and record bitcoin transactions into the blockchain (a digital ledger).
Bitcoins aren’t that different from regular currency when you think about it. Fiat money is also intangible and created through a central authority. The difference is that bitcoins have been explicitly designed for secure financial transactions. For example, each transaction is verified by miners who compete to solve these complex math problems; this creates an added layer of security against fraud or counterfeiting. In addition, bitcoins aren’t subject to inflation like regular currency since there will only ever be 21 million bitcoins mined. This makes them attractive as an investment option! Consider visiting Cyber Hornet for more information.
2) How It Can Help Your Finances
Bitcoin is decentralized, meaning a single organization or government does not control it. Decentralization means that bitcoin can help you become more financially independent since the fees are lower with this type of currency than when using credit cards and other forms.
You will also be able to send money anywhere in the world at any time without paying unreasonable wire transfer rates. This way, you have access 24 hours per day, seven days per week! You won’t need to wait for banks to open on weekends either, so transactions complete quickly.
And if your wallet gets stolen? Some countries even offer insurance against theft which makes getting into bitcoin incredibly easy! Combined, these things make it easier to become financially independent with crypto-currencies like Bitcoin.
In conclusion, Bitcoin is a digital currency that has been designed for secure financial transactions. It’s decentralized, meaning any one organization or government doesn’t control it, making it attractive to people who want to become more financially independent. Bitcoin can help you send money anywhere in the world at any time without paying unreasonable wire transfer rates!
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Depending upon the type of business you’re running, it might be sensitive to changing weather conditions. The winter months likewise have put stresses on certain businesses over the years. The following contributed post is entitled, Extra Health And Safety Precautions Businesses Need During The Winter Months.
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Health and safety is always important for businesses, but there are extra challenges to deal with in the winter.
The cold weather can make your employees feel tired and less productive, it can cause injuries from slipping on ice or snow, and it can present safety hazards that need special attention. Here are a few key things to consider as you prepare your business for winter:
Dress Properly For The Cold
Wearing appropriate clothes for the cold is one of the key things you can do to stay safe in the snow. Dressing in multiple layers is best; this allows people to adjust their clothes based on how they’re feeling (for example, taking off an extra coat if they start getting too warm.) Make sure that all exposed skin is covered by clothing or sunscreen; sunburn on ears and noses is especially common during winter.
Clear Ice And Snow
When it snows, salt or sand your sidewalks to provide a safe walking surface that won’t freeze over. You could also call in a snow removal company if the situation is particularly bad. This keeps people from slipping on an unseen patch of ice and injuring themselves. It also helps them avoid the temptation to walk in the street, where they’re more likely to be hit by a passing car or bus, so make sure you remind workers not to do this.
In addition to salt, calcium chloride spray can help keep sidewalks clear of ice for longer before it has a chance to re-freeze. This makes it safer for pedestrians and reduces the risk of damage if they need to shovel afterward.
Watch Out For Falling Icicles And Snow
Falling icicles and snow present a hazard that needs to be dealt with. Check rooftops regularly for accumulations of ice or snow, and consider getting someone up on the roof to remove anything that might fall down and hurt pedestrians or damage property.
Be Careful With Heating Devices
A safe workplace isn’t one where workers are uncomfortably cold; it’s one where they’re not too hot either. Things like space heaters, stoves, candles, etc., should never be used indoors without proper ventilation. This is particularly true if you have gas appliances (which should always be properly vented anyway.) If your employees use these sorts of devices, make sure they’re trained in their use and safety precautions.
Additionally, consider moving heaters and candles and such away from areas where people congregate (such as break rooms) to avoid accidental fires.
Check The Forecast
Check local weather forecasts regularly during winter months, particularly in advance of days when you know there may be precipitation. This will help you plan ahead and keep employees safe. If heavy snowfall or freezing rain is expected, make sure that your business is ready to handle it by clearing sidewalks and parking lots of ice and snow, and stocking up on de-icer spray (or sand/salt mixtures.)
It’s vital that you take these extra precautions during the winter months to keep yourself and your employees safe.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. In the first period of your new business, there are specific things you need to do to continue the growth of your operations. The following contributed post is entitled, Things You Should Do In The First Period Of Your New Business.
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Starting a new business is exciting. It’s an opportunity to build something from the ground up, and you have all of these ideas for what it will eventually be. But before you start dreaming about where your company could be in five years or how much money it will make, there are some things that should happen first – things that can help pave the way for success no matter what industry you’re in!
A detailed and well-thought-out business plan will keep you on track as your startup begins to grow. It’s important that your plan is used not only for internal purposes but also when speaking with investors, clients, and other stakeholders. A strong business model can help you attract the capital required to get started or scale up later down the road; it sets expectations about what the company’s product and service offering should be and how much money it needs to become profitable; it helps establish milestones, so everyone knows where they stand at any given time; and much more.
2) Define Your Business Goals
Setting and achieving concrete business goals is essential for any new venture. Without knowing what you’re working towards, it can be difficult to stay on track or make informed decisions. Take the time to sit down and define what you hope to achieve with your business – both in the short and long term. Be specific in your goals, and make sure they are realistic and achievable. Having tangible objectives will help keep you motivated during challenging times.
When setting your business goals, remember to keep the following in mind:
-Your target market: What does this group of people need or want that isn’t currently being offered? How can you solve their problems?
-Your unique selling proposition: What sets you apart from your competitors? Why should people choose to buy from you instead of the competition?
-Where and how will customers find your business: Is it online or offline, and does this fit within those who are interested in what you have to offer? For example, an eCommerce site is not going to be as successful if its targeted audience prefers brick-and-mortar shops.
3) Promote Your New Business
Even when you are starting from scratch, you should take the time to promote your new business with business networking.
Make sure that you have a website up and running with email addresses for everyone who works at your company or is part of it.
Try promoting on social media sites such as Facebook and Instagram, where people can post pictures, videos and even write comments about their experiences using your product or service.
Post in forums online, so other businesses will know how great working with yours has been! Remember to include links back to any pages which describe what your company does further!
In conclusion, there are many important things you should do in the first period of your new business. By taking the time to implement these strategies, you’ll be on your way to a successful future. Remember to stay focused and motivated, and don’t be afraid to ask for help when needed.
Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When you’re an entrepreneur, you have to figure out how to manage your multiple projects effectively. This one component will set you apart from you competition. The following contributed post is entitled, How Does Agile Project Management Help Entrepreneurs?
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It’s no surprise that entrepreneurs are always on the lookout for better methods to help their businesses grow. While some would pin this search down as nothing more than a greener pasture, many entrepreneurs turn to Agile Project Management (APM) specifically due to its growth-oriented approach and proven results.
APM allows business owners like you to spend less time managing employees and more time growing your business. Let’s look at how APM works and how it might be able to make your life easier.
As with any method of management, there are varying levels that one can take in applying these principles. By understanding the different main ideas behind APM, you’ll be able to choose which methods work best for you and your team.
The three main ideas behind APM are:
1) increased project visibility,
2) ongoing stakeholder engagement and other related benefits, and
3) optimized team and organizational performance.
These ideas together provide a framework for how your business should function, as well as the goals you would like it to achieve.
Based upon these principles, we’ll discuss some of the key features of APM that make it highly useful for entrepreneurs such as yourself:
1) Higher Productivity Rates:
APM eliminates much of the wasteful bureaucracy that surrounds traditional project management by organizing business activities around prioritized backlogs rather than rigid schedules. This makes it so teams are only responsible for an iteration at a time, allowing them to focus fully upon each requirement in order to create a higher-quality product with less effort. Given that your employees will likely be more satisfied and feel better supported, this is bound to lead to greater levels of productivity.
2) Greater Collaboration between Employees:
As mentioned earlier, APM encourages increased collaboration among all individuals involved in any given business activity by ensuring everyone’s efforts are based on shared goals. Each work item has its own backlog, which can be modified by other team members, allowing for greater engagement and synergy. This not only makes it easier to manage workflow but also increases the speed at which tasks are completed due to an open exchange of ideas.
3) Improved Customer Service:
By engaging stakeholders in a more regular fashion during each iteration, APM allows your team to better understand the needs of your customers and tailor your products accordingly. Not only will you be able to offer faster turnaround times on customer requests because changes can be made more readily, but you’ll also receive feedback from them much sooner. In addition, by providing regular updates about your progress throughout development cycles, you create additional opportunities for dialogue between yourself and clients.
4) Shorter Development Timescales:
Traditional project management tends to mismanage and overestimate development timelines due to a lack of ongoing engagement between clients and developers. APM, however, facilitates an ongoing dialogue between all involved parties by breaking down tasks into small pieces so they can be completed more quickly. This allows you to better assess the true scope of work required on any given task or project before beginning it, which is managed according to priority rather than a schedule.
5) Better Work/Life Balance for Staff Members:
Keeping your employees happy during their time off from your company is key in retaining them long-term. By working with a shared backlog that anyone can add items to at any time, everyone has a say in what gets seized for a given release or iteration. This allows individuals to select those tasks they feel most passionate about and work toward them as a team instead of the solitary nature of the traditional approach.
In Closing
By taking advantage of these benefits, entrepreneurs can improve efficiency while cutting costs at the same time, thus leaving more money in their wallets once the project is complete.
Three focuses of my blog are Current Events, Financial Literacy/Money and Business/Entrepreneurship. President Joe Biden’s infrastructure bill has been in the news for quite some time. Most citizens don’t have time to understand what’s in it though as is often the case with politics. The following contributed post is entitled, An Inside Look Into Biden’s $2 Trillion Infrastructure Bill.
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2021 has been a year for the books for so many reasons, and not all of them were bad, but from a landmark news perspective, if you’re anything of a news nerd or politics junkie – you’ve had one of the best years ever.
Controversial courtroom rulings like the Kyle Rittenhouse not guilty verdict, to the bizarre story of Jussie Smollet – and we haven’t begun to look at all of the ongoing Covid news stories that just never seem to end. If you’re not an avowed optimist, you’d be having a very hard time indeed.
But, somewhere in between all of the madness of the year that was(n’t), came news of what some are calling the best thing to happen to domestic spending in history, and what others have called the biggest disaster to spend in the United States, but whatever you views on this landmark announcement are one thing is for certain, it is going to leave America physically changed. It is the massive infrastructure bill recently passed into law, and it effectively amounts to $2 trillion, although the amount in the discussion was actually $1 trillion. Well, that also depends on who you believe because some forecasters believe that the final bill will be closer to $3 trillion. That’s $ 3,000,000,000,000 to you and me.
With all of this lovely money swishing about, already questions are being asked about where this money is going to be spent? Who stands to benefit? Who decides where this money gets spent, and perhaps most importantly – where is this money going to come from? We’re going to try and unpack some of these questions now.
Essentially, President Biden’s (officially) $2.3 trillion (or that may actually be $1.8 trillion) infrastructure plan has prioritized spending on transportation, drinking water as well as broadband projects and it comes after the American Society of Civil Engineers released a report in 2021, some call it the report card, on which American infrastructure scored a dismally low, C-minus.
This prompted massive studies across the nation conducted by various government agencies and local authorities to determine which areas had the biggest and most urgent need. The question many wanted answering though, is just why has our infrastructure been allowed to fall into such a state of disrepair in the first place? You may find that that, is a very loaded question, but what all sums have been done and all arguments made, the answer is written rather succinctly by the American writer, Kurt Vonnegut:
“Another flaw in the human character is that everybody wants to build and nobody wants to do maintenance.”
And that is quite the crux of it all, as administration after administration since Regan have all just about had ambitious plans to revitalize America’s roads, bridges, urban centers, schools, rapid and mass transit systems, and more.
That in turn, leads us to the next very important question – how much of our infrastructure needs to be fixed or upgraded anyway, and why is it so outrageously difficult to get politicians to agree on it?
As with all things political, there are a few answers to that question.
Firstly, roads, bridges, etc. are all designed (in principle at least), to have as long a life-span as possible and with the knowledge that at some point, their ‘parts’ are going to wear out. The longer something is intended to last, the more expensive it’s going to be to build.
For example, the bridges that form America’s Interstate Highway System, which was started during the Eisenhower administration (more than six decades ago), are now very much nearing the end of their intended lifespan and worryingly, in the case of some of them – are probably beyond their lifespan. Sixty years is a long time for any object to take the pressure and pounding that these bridges take every day – without significant investments in maintenance and upgrading.
Then there is the real reason and if you’ve been thinking it’s all money-related – you’re right. America’s infrastructure is controlled by the public sector – in other words, taxpayer-funded. A lot of the funding for the maintenance of these giant projects like highways and bridges is provided for by federal and state gasoline taxes. To effectively maintain these projects, a lot of money is needed – money, that comes directly from taxes. Taxes that will have to be increased to afford these upgrades and maintenance projects, tax increases, that can cost politicians – their careers.
Then you have the legacy issue. Politicians are not huge fans of making their successors look good. It takes a long time to get approval from all the moving parts in government to get this spending into place, and often it looks like it may happen just as a Presidents term is about to end. That would mean that the next guy gets to take the credit for what his predecessor effectively put into place, and to turn a phrase, ain’t nobody got time for that.
Then, there is the question of visibility. While bridges, tunnels, and roads are in plain view, some other parts of America’s infrastructure are not so easily noticed, until they stop working. Think sewer lines. So, which states are going to benefit the most?
According to this report by CNBC, the states that are likely to win big (that means cash in the most) are, New York, Texas, and California with critics citing that it is rather some of the more underpopulated states with less developed rural economies like Montana and Alaska, that should get a bigger share to compensate for much fewer tax revenues.
Well with all of that being said, we’re certain that there will still be lots and lots of quarreling and across the floor back and forth to determine that amount.
There will also be various sustainability groups looking to improve the environmental impact of any proposed building projects, both for human health and climate change. We’re going to see senators arguing about tunnel fans, concrete usage, and diesel emissions on the left and right. We’re also going to hear plenty of arguments about how it damages the U.S.’s ability to become a carbon-neutral country over the coming years.
Meanwhile, all is not entirely silent in Washington. It appears that there is something of a brouhaha about it all, and more than just a little dose of déjà vu happening too. It all started with Donald Trump’s term in office. He pledged to spend $1 trillion specifically focused on rebuilding America’s roads and bridges. That amount was eventually upped to $2 trillion, but despite all his enthusiasm for the plan, it wouldn’t amount to much, and the term infrastructure week (the period when all of this debating was happening), would become used as something of a euphemism for, futility. Not our nation’s best work.
So, just to create some understanding of what we’re talking about when the word infrastructure is used in this context, we agree that the term infrastructure is something of a ‘hold all’ term that refers to roads, bridges, tunnels, rail lines, dams, buildings, systems that supply water and electricity for example. It basically covers all of the systems that the American civilization needs to function.
Joseph Schofer, a professor of civil and environmental engineering at Northwestern University says that infrastructure is “the built environment that supports our lives”.
OK, so let’s go a little deeper, where is this money going?
Roads and bridges: At the very top of the 2,702-page bill’s spending outlines, roughly $110 billion of new funds will be allocated to improving America’s roads and bridges, as well as investment in other major transportation programs. Everything from Asphalt Resurfacing to major upgrades and new road construction.
Public transit: This spending program also includes the largest-ever federal investment program of its kind in public transit with a massive $39 billion going to modernizing systems, improving access, and repairing over 24,000 buses, 5,000 railcars, and thousands upon thousands of miles of train tracks.
Amtrak: Biden’s plan hails the largest investment in passenger rail since the creation of Amtrak, over 50 years ago. There is an eye-wateringly, giant $66 billion that’s heading to Amtrak for the development of high-speed rail, safety upgrades, Amtrak grants as well as ‘modernization’ of the route that connects Washington, D.C, and Boston.
Added to that list are massive investments in airports, broadband internet, urban center regeneration, green initiatives, clean energy, electric cars, buses, and ferries, clean drinking water projects, and road safety.
What do we really love about this program? The massively long-overdue investment into our Great Rivers and Lakes. The bill has more than $50 billion for water infrastructure improvements and about $1 billion is slated for the Great Lakes Restoration Initiative. An initiative that proposes a major clean-up program that targets toxic hot spots (areas of shockingly bad industrial pollution), with a further $17 billion going to ports and waterways.
Love it or hate it, there is no denying that if these plans are implemented as they’re intended to be, that America’s infrastructure will enjoy more investment than it ever has, and with around 19 million jobs that are anticipated out of this program, the overall economy should see a significant boost too.
Whichever way one looks at it, it’s probably very much overdue, and about time.
You’ll find a detailed and in-depth look at the bill on the White houses’ website, here.
