Mohit Tater's Blog, page 480

How To Keep Costs Down When Running A Business

The biggest and most established of all businesses can do well when it cuts costs. However, the challenge of being as frugal as possible often comes as a great challenge to most businesses.

It is advantageous for businesses to evaluate which aspects of their operations they can lower expenses on. Even the smallest changes in applying penny-pinching strategies can make the biggest difference. For your finances, learn more from Dollar Financials.

This article offers some business strategies to cut down on costs:

1. Reduce Office Supply Expenses

Those pens that keep on getting lost and bond papers wasted on wrongful printing all contribute to office supply expense wastage. All these add up in every business period. 

Always remind your staff to be responsible with even the simplest things as not losing a pen too soon. Make it a rule among your employees to use soft copies whenever possible. Use technology to your advantage by no longer printing documents that don’t necessarily need to be printed. For example, rather than printing office memos, you can simply email a copy of the memos to your employees.

Moreover, while you’ll want to choose the best quality office supplies, remember that quality doesn’t always equate to an expensive price. You don’t need the most expensive pens or the priciest chairs for your office. If you notice that your expenses are unreasonably high, it’d be a good idea to window shop for other suppliers. If you can find one that offers you a better deal, then go for it. 

2. Open Your Doors To Interns

Some businesses are afraid to open their doors to interns because of the burden of having to train them. However, welcoming interns to your business every year is beneficial for the following reasons:

It gives you additional workforce at no added expense. It would be best if you thought of interns as an asset for your business. You’ve got more people to do operational or office tasks without paying them a salary. You may even find someone you can trust with more complicated tasks. This can help your business do more, sell more, or produce more sans adding up more expenses from your end. Interns can be potential talents. The recruitment activities of any business can also get costly. Letting interns into your business allows you to look for potential hires, which is more expedient than spending too much hiring fresh graduates all the time. This is advantageous to you, too, as you’ll spend less on training and other recruitment necessities. 



3. Cut Down On Production Costs

The area in business that’s prone to a lot of wastage is the production and manufacturing line. As a business owner, you’ll want to cut down on these expenses and reduce wasting raw materials as well. 

A good way to do this is to maximize the use of every raw materials that you have. For example:

Look for ways to use your waste materials and turn them into new products. This is timely, too, since more individuals now are looking to buy products that are made of recycled materials.Consider selling any of your scrap cardboard, paper, or other materials.Consolidate the space you’re using for production. If there’s any unused space, use this for other operational aspects of your business. That way, you’ll have more space left which you can lease out to other businesses.

Then, set performance parameters and check these from time to time, to see how efficient you are in your production. 

4. Spend Less On Office Space

When it comes to business expenses, rent can usually take up the most amount, next to utilities. If you think the rent in your area is getting too expensive, try searching for cheaper office space in other areas. This is beneficial especially when location is not a major factor for the type of business you have.

Furthermore, you might also consider having more employees work from home. If your employee’s job description doesn’t require him to spend most of his time in the office, then let him take this work setting. Have this option also for potential new hires. You can save much on office space and utilities by having more employees work from home. 

Conclusion

 If your expenses are taking a heavy toll on your income, then it’s a tell-tale sign that you’ll have to cut down on some business expenses. A simple strategy like reducing office supply expenses to a more challenging one such as finding ways to reduce production costs can significantly help you cut down business costs.

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How to Equip Your Office on a Budget

Equipping a new office, whether you’re just launching a new business or moving into a better space, can be equal parts exciting and daunting. We all want what’s best for our employees, but at the same time, we also want to make the most of our investment.  Fortunately, there are ways to achieve both, and that’s what we are going to talk about in this article.

Invest in: Office Chairs

If we can recommend one office element that you should invest in, that would be office chairs. Your employees are going to be spending long hours sitting, and doing so on low-quality office chairs can expose them to numerous health risks. You can consider looking into payday loans online if your capital needs some support.

Save on: Desks

On the other hand, you can save money by getting bench desks instead of splurging on individual desk units. A single bench desk can home three or more employees depending on its length. As such, it will allow you to save on floor space too. For us, it offers the best setup, especially for those who are just starting a business.

Invest in: Digital Equipment

Another element that plays a significant role in an office is digital equipment. Investing in quality computer units and peripherals from the get-go will allow you to save more money spent on needless repairs later on. 

Save on: Furniture

On the other hand, you can save money by purchasing all your office furniture in bulk from a single supplier. We recommend opting for couches and other pieces that match your brand’s colors to create a unified sense of identity inside your workspace.

Invest in: Connectivity and Security

Ensuring a network connection that is fast and secure is crucial in any business in this digital age. Consider using online tools and software that prioritize security and back-up storage as well. In this way, you won’t have to worry about your files getting randomly accessed and wiped out, especially during unforeseen events and emergencies. Digital work trackers and security cameras are also worth investing in depending on the size of your workspace and its immediate environment. 

Save on: Ambiance

Here’s an element that most business owners on a budget overlook, even though it also plays a crucial role in work productivity and overall job satisfaction: ambiance. However, there are ways to improve the atmosphere of your workplace without spending a lot of money. It simply boils down to your creativity.

Having indoor plants is a good place to start. The greenery will not only lend a calming presence throughout your space, but it will so improve its indoor air quality.

Lighting is also essential, but you don’t have to spend a lot on fixtures. Just place your desks strategically with your light source. Research shows that bright and cool-toned lighting boosts focus, mental clarity, and productivity.

Invest in: Communal Equipment

Speaking of productivity and job satisfaction, we also recommend investing in the equipment in your communal workspaces. For instance, your employees will surely appreciate a high-quality coffee maker. So will a fridge, a microwave, and other pantry and recreational room essentials. 

Save on: Office Essentials

Instead, you can save on other office essentials. Photocopier machines, printers, and other equipment can be bought secondhand. Smaller office supplies like copy paper, markers, and push pins are cheaper when bought in bulk and most of them can be reused, even paper. 

You can further save money on going paperless and utilizing online boards to create your flow charts and mind maps. Should you choose to do so, though, then it would be critical to set up a projector and screen as an alternative.

More Tips on How to Equip Your Office on a Tight Budget

Aside from those mentioned above, here are a few more tips to further extend your budget:

Don’t buy the first product listing you see. Compare the rates between manufacturers and sellers. There are price comparison tools and search engines that you can utilize online for free. Other factors that you need to consider before adding items to your shopping cart are product guarantees, warranties, coupons, special promos, and discounts.Partner up with retailers and other businesses. There are a lot of retailers out there who are willing to partner up with other companies in exchange for publicity and other perks. Meanwhile, there are also other businesses that are willing to share their own resources in exchange for special privileges. For instance, you might want to consider sharing one of your offices to an up and coming tech startup in exchange for free and unlimited IT services and computer repair. Consider alternative work arrangements. Finally, more and more companies are opening up to the prospect of remote working. After all, it can allow one to save significantly in utilities, network fees, and even office equipment purchases.

By keeping the tips we have shared with you in mind, we’re confident that you’ll be able to launch your business while getting the best value out of your capital. 

The post How to Equip Your Office on a Budget appeared first on Entrepreneurship Life.

1955 Capital founder, Andrew Chung, Speaks on COVID-19 Challenges to the Chinese American CPA Association

Recently, the Chinese American CPA Association invited Andrew Chung to discuss the COVID-19 pandemic and its many challenges. Chung, the founder and managing partner of 1955 Capital, provided remarks helpful to listeners both in China and the United States. The talks covered everything from health concerns to business strategies as related to the COVID-19 pandemic.

Speaking on Business Issues Related to Pandemics

This isn’t the first time that Andrew Chung has been asked to speak about business issues related to a health pandemic. Previously, he has given media appearances and lectures about the unfolding COVID-19 pandemic, some of which he based on his personal experience with the SARS outbreak of the early 2000s.

As Chung explained in an interview leading up to these particular lectures, “Having lived in greater China and advised companies during the 2002–04 SARS outbreak, I know firsthand how a pandemic can dramatically slow down businesses and force a significant rethinking of business strategies.”

During the SARS outbreak, Chung served as a consultant for a number of Chinese businesses. He acquired an appreciation for the cutbacks that sometimes must occur during a pandemic. However, he also realized that as a result of that same disruption in business activities, many businesses can realize opportunities to innovate, and as a result, grow their market share.

Bringing a Worldwide Perspective to the COVID-19 Pandemic

Part of why Andrew Chung’s comments are so insightful is because he brings a global perspective to the issue. Chung doesn’t work in just one country; instead, his professional career has involved the successful introduction of technologies from Western countries into the developing world.

Chung is best-known for his investments in climate tech. When working at Khosla Ventures, he managed a portfolio of investments totaling over $500 million, and his own 1955 Capital firm maintains a significant presence in environmental technology. Additionally, 1955 Capital holds investments in agriculture, food and energy companies.

1955 Capital also invests in educational and health care companies that use innovation in a similar manner to create new opportunities in the developing world.

Chung’s experience in bringing cutting-edge technologies to these developing regions gives him a worldwide perspective on business. He’s long used that perspective to succeed in his personal business ventures, but it’s also now proving useful during the COVID-19 pandemic. Chung doesn’t speak on COVID-19 from the limitations of the perspective of just one country; instead, he has a universal viewpoint.

Appreciating American and Chinese Cultures

In addition to a broad worldwide outlook, Andrew Chung has a particular appreciation for both Chinese and American cultures. Working at his parents’ Chinese restaurant as a child and graduating from Harvard gave him firsthand experience with both cultures, and he’s long navigated the two worlds successfully. In many ways, his ability to function at a high level in both cultures has been beneficial when promoting technological investments in the developing world.

Chung’s bicultural experience make him especially well-qualified to speak to the Chinese American CPA Association. Being a Chinese American, he’s uniquely positioned to speak to the obstacles that other Chinese Americans face on a personal basis. In his remarks, this background was evident when he specifically addressed tax-mitigation strategies for immigrating into and studying abroad in the U.S.

Speaking to a Global Audience

Andrew Chung’s lectures were done virtually with an audience that extends far beyond those assembled in the live audience. Since the talks were made available online, many people streamed them live in real time.

The Los Angeles area media covered the talks in depth. This comes as no surprise since Los Angeles has a fairly large Chinese population, and the talks occurred at a manageable time difference. Nonetheless, Chung’s talks reach far beyond the four walls of the assembly. Audience members tuned in from many other locations across the world as well.

Since the talks received a global audience, he spoke in English despite the Chinese physical location. This ensured that the lectures were accessible to as many Chinese Americans and others as possible.

Covering Many Different Topics Related to COVID-19

During these lectures, Andrew Chung covered many different topics related to COVID-19. He discussed these topics previously in a limited capacity in other settings.

First, Chung examined the various challenges that businesses face during this time. Chung’s viewpoint is that businesses must take cost-reducing measures while seeking opportunities to innovate. Once the pandemic subsides, those businesses that can reduce expenses and innovate for the future at the same time will be well-positioned for growth.

Secondly, Chung spoke of his experience with the prevention and treatment of SARS-CoV-2. With his awareness of the situation in both the United States and China, audience members found his informed perspective helpful in considering how the two countries continue to manage the COVID-19 pandemic. Of course, these comments came as medical professionals continue to make regular advances in research.

Thirdly, in a related area, Chung discussed the measures students can take to protect themselves during the coming academic year. From international travel to personal protective equipment, students have multiple issues to navigate.

Guiding Businesses and Students Through COVID-19

Andrew Chung’s comments to the association were helpful to both businesses and students. Through these and other lectures, Chung has expanded his influence beyond 1955 Capital and established himself as a fixture in the Chinese American business world.

The post 1955 Capital founder, Andrew Chung, Speaks on COVID-19 Challenges to the Chinese American CPA Association appeared first on Entrepreneurship Life.

The Consequences of Failing to Carry Workers’ Compensation Insurance

Many states require companies employing one or more employees to maintain workers’ compensation insurance. You might be tempted to try to avoid that expense, perhaps by paying your workers as 1099 employees, or you might forego the expense and just hope none of your employees gets injured on the job.

Failing to maintain workers’ compensation insurance is unwise. The consequences of being uninsured when a workplace accident happens can be devastating for a small business, and perhaps for you personally. Read this article to find out why.

A 1099 Independent Contractor is Often an “Employee” under Workers’ Compensation Law

Employers have tried to avoid paying the taxes and benefits W-2 employees are entitled to by misclassifying their workers as 1099 independent contractors. This has been a hotly-litigated issue, especially in the trades, such as construction. 

Typically a contractor will subcontract different tasks, and the subcontractors’ workers will be themselves, independent contractors. This used to be a creative way to circumvent workers’ compensation law and avoid liability for workplace accidents, which are common in construction. No more.

While the exact test and factors vary from state-to-state, in general, a workers’ compensation court will likely re-classify a 1099 independent contractor as an “employee” for the purposes of workers’ compensation if:

Their duties are an essential part of their employer’s business;They work full time;They depend solely upon their employer for income;their employer controls how and when they do their job.

Other factors, such as whether the employer provides training or the tools to do the job, are also considered.

The Consequences of Employee Misclassification under Workers’ Compensation Law

If a workers’ compensation judge finds that a 1099 worker is instead an employee, then that worker will be entitled to full workers’ compensation benefits. Benefits may include payment for medical treatment, lost time at work, and disability benefits. 

You, as an employer, will be assessed for this amount and must pay either out-of-pocket or must reimburse your state’s uninsured employer program in full, depending upon state law.

Other Penalties for Employee Misclassification

If your misclassification of employees as independent contractors is referred to the IRS, you may face the following fines and penalties:

Fines for each W-2 you failed to file;Penalties imposed on you for failure to withhold income taxes;Penalties imposed on you for failure to withhold the Social Security taxes and Medicare taxes;Penalties in the form of 100% of the employer taxes that you failed to pay;Penalties in the form of interest accrued on all overdue and unpaid taxes and penalties.

Depending upon the number of employees you misclassified as independent contractors, this cost can be steep, and too much for many small businesses to absorb. Carrying workers’ compensation insurance eliminates all of these risks.

Employee Misclassification May Be a Crime

If any state agency, including a workers’ compensation judge, finds that your misclassification of employees as 1099 independent contractors was intentional, fraudulent or criminal, they can assess additional fines, penalties, and interest on those fines and penalties to those already listed. 

Depending upon the law in your state, that state agency might also refer your case to the appropriate state criminal agency to charge you with a crime. A prosecutor might then seek to impose a jail or prison sentence and additional fines upon you personally, as the owner of the company, a member of the LLC, or an officer of the corporation. 

In other words, if your business willfully misclassified employees as independent contractors, not only could you go broke, you could go to prison.

If State Law Provides, You May Be Criminally Prosecuted for Failing to Maintain Workers’ Compensation Insurance

Failing to carry workers’ compensation for employees is a crime in most states. The severity of the crime and the accompanying fines, penalties, and jail sentences will vary state-to-state.    

For example, in Pennsylvania, the crime of failing to maintain workers’ compensation insurance when required is a third-degree misdemeanor carrying a $2,500.00 fine and up to 1 year in jail. If the failure to maintain insurance is intentional, it is a third-degree felony carrying a $15,000.00 fine and a jail sentence of up to seven years. 

Bear in mind that in most states, each and every day that you as the business owner fail to carry insurance can be charged as a separate crime, which will enhance the penalties and jail time you face.       

You can avoid any and all of these possible consequences by maintaining workers’ compensation coverage for your employees. It is a business expense you can deduct, and it insures you and your business against civil and criminal liability.   

About the Author: Veronica Baxter is a legal assistant and blogger living and working in the great city of Philadelphia. She frequently works with Larry Pitt, Esq., a busy workers’ compensation lawyer in Philadelphia.               

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Rode NT USB Vs Blue Yeti USB Mic

If you are serious about podcasting you have to invest in a microphone. You engage your users through your audio experience and you need to ensure that it is of high quality. Not only that for any quality audio work you need to invest in a good microphone.  Be it voice over for your videos or even stream sessions.

People usually relate good audio quality to expensive gear but you can get some great audio quality with affordable options as well. Here we compare the Rode NT USB and the Blue Yeti to see which is the best. 

Overview

The Blue Yeti and the Rode NT USB are both powered by USB bus meaning that setting them up is as easy as plugging them into an USB port. Both the Blue Yeti and the Rode NT mics have support for both Windows and Mac operating systems. The Rode NT USB mic also has compatibility with an iPad , so even if you have a remote setup you have a mic that can travel with you on the go. These mics also come with a warranty, with the Blue Yeti having a one year warranty and the Rode NT USB coming with a two year warranty.

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Physical Overview

If you have a smaller setup and are looking for a more compact mic then we suggest you look towards the Rode NT. This is because it has a smaller form factor compared to the Blue Yeti. Having a smaller form factor also means that it weighs less than the Blue Yeti..The Rode NT comes in around a pound on the scale.

If you are more of a streamer and the look of your mic needs to match your setup we suggest you to opt for the Blue Yeti USB mic. It comes in a range of colour options such as blue ,red, maroon,white, and also multi colour variants.  

Both these mics come with zero latency headphone jacks and can be mounted on any custom made stand. However the Rode NT USB mic does come with a mount. 

One of the main differentiating points is that the Blue Yeti does not come with a Pop filter whereas the Rode NT USB mic does. A pop filter enhances the sound clarity by eliminating the high sounds that come from speaking into a microphone.

There are however many inexpensive alternatives to this so it isn’t a deal breaker.

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Sound Overview

These mics are condenser mics and produce studio level audio quality. Condenser mics also provide for a larger frequency range . Being a condenser mic it means that they are tuned for vocals making them a good fit for podcasts or voice Overs. They are also tuned for acoustic instruments making those streaming sessions with your friends on YouTube a jam!

This does however make both the mics sensitive to background noises and also secondary interferences coming from outside.

So if your main focus is on the vocals then these mics will be a good option.

Feature Comparison

Both these mics produce good audio but have a few extra features to differentiate them from the competition. The Blue Yeti brings a lot of useful features to the table when compared to the Rode NT USB mic.

The Blue Yeti USB mic has two main features namely the mute button and the gain control.

The mute button is a very essential feature to have in our opinion as it makes recording sessions easier, especially when you do not have full control of your surroundings.

Some users did however report that the Blue Yeti mic at times auto mutes itself. This can be very annoying if you are, say using it to record an interview, but the problem is not all that common.

The gain control knob is also an excellent feature allowing us to adjust the audio output on the go directly from the microphone.

Another feature that makes the Blue Yeti versatile is the fact that it has multiple recording modes or patterns. The Blue Yeti offers omnidirectional, bidirectional, stereo, and cardioid modes. The Rode NT USB mic on the other hand only offers a singular mode or recording pattern.

Here is a simple graphic to show the difference between the modes or patterns.

Omnidirectional

In this recording mode the mic picks up or in other words becomes sensitive to noise coming from a certain radius around in an equal manner. So if you have a group of people sitting around a table and if the mic is placed between them in the center, all the voices of the participants will be heard equally.

Bidirectional

In this recording pattern the mic picks by the sounds from two opposite directions. Meaning that any sounds coming from the front or the back of the mic are picked up while the ones coming from the sides are ignored. This is usually used in the case of interviews where only the voice of the interviewee and the interviewer needs to be captured.

Cardioid

This recording patterns prominantly picks up the sound from the front of the microphone while being less sensitive to the sounds from the side and completely ignoring sounds from the back. This pattern comes in handy when you have a group of people speaking from the front of the mic, maybe in the case of a singer or bands playing music.

These modes allow the Blue Yeti mic to capture audio in a multitude of different situations without having to pick up any unwanted disturbances.

But one major feature the Blue Yeti missed out and one that the Rode NT USB mic has is the that of an on/off button. This means that the only way to turn the Blue Yeti on and off will be to plug it into the USB port and remove it from the USB port which is highly inconvenient.

Audio Quality

Now both these mics have different features making it better for different purposes so choosing one of the mics will come down to the use case. Both mics in general have good enough hardware to pick up clean noise but users have complained that the audio picked up can be little muffled in the case of the Rode NT when the speaker is a little far away.

The Blue Yeti USB mic on the other hand has received complaints saying that it picks up a lot of surrounding noise making the output undesirable. This can however be controlled if we keep the recording environment in check but in most cases this is not a feasible option.

The sound output in both the mics is the same at 16bit so as long as the mics are in a conducive environment for recording the sound clarity and output should sound similar.

Final Thoughts

Both these mics are a great upgrade from any normal mic that comes bundled with your phone or even a lavalier mic. They produce studio level audio output with a multitude of features allowing it to adapt to different situations.

It finally does come down to use case, if you are looking for a mic for your podcast or gaming channel then the Rode NT mic will do you just fine, it also costs less than the Blue Yeti option.

The Blue yeti on the other hand has a multitude of options making it suitable for different use cases but also comes in as a bit more expensive than the Rode NT USB mic.

But our recommendation would be to go for the Blue Yeti microphone even though it is a costlier option because of its many features making it versatile. But if you have a mobile setup and use an iPad as your workstation we recommend you go for the Rode NT because of the inbuilt support for the device.

Hope this review helps you can check out the Rode NT USB mic here and the Blue Yeti USB mic here.

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What are Bitcoin Casinos? Everything You Need to Know

Do you love gambling or online betting but worried about using traditional currencies? Well, with Bitcoin, you don’t have to play hide and seek to join betting or gambling. A bitcoin casino offers excellent opportunities for people who are interested in betting. You can join the world of casinos by sitting at your home comfort.

Bitcoin Casinos- A Complete Guide

Bitcoin Casinos are the online casinos or gambling space where you can use Bitcoin as a currency. Some of these Casinos accept only Bitcoin while others accept other currencies, too, along with Bitcoin. As Bitcoin is gaining popularity, so is the number of Bitcoin casinos. In recent years, Bitcoin casinos have mushroomed across the online world, providing the gamblers or betting lovers space where they can have more privacy, and pursue their interests. This feature has made Bitcoin casinos very popular in many parts of the globe.

The number of Bitcoin casinos is increasing at a decent pace. All credit goes to Bitcoin, an excellent alternative of fiat currencies such as the US dollar. The Bitcoin casinos offer an extensive range of games like casino games, sports-based betting, gambling games, online lotteries, etc. Some of the casinos have become extremely popular, and they are dominating the online gaming space. Here is the list of the most popular Bitcoin casinos.

Satoshidice       Switch Poker         StrikeSapphire   Bitzino        Bc-casino.com   Satoshibet       BtcSpiortsBet    BitLotto       







Why are Bitcoin casinos gaining popularity?

Bitcoin casinos are top-rated because of multiple reasons, be it anonymity or digital payment. Let’s look at some of the reasons which these casinos are gaining momentum in recent years.

Anonymity: It is one of the biggest reasons why people love Bitcoin casinos. Since Bitcoin is not associated with any bank or other financial institution, no outsider can get the details of transactions. It helps the gamblers to focus on gaming rather than worrying about privacy. 



 Low Operational Cost: As compared to traditional casinos, the Bitcoin casinos don’t need to spend money on physical space and infrastructure. So, they save a large amount of money. The betting or gaming is conducted online, so Bitcoin casinos often launch jackpot offers, which attract a lot of users to join this platform. 



Income not Taxable: The most significant factor of the popularity of the Bitcoin exchange is that income is not taxable. Ideally, there is a massive tax on income from gambling or betting in certain countries, but since the government does not have access to the earnings, the income cannot be taxed. It makes Bitcoin casinos a preferred choice over traditional casinos.



Zero Transaction Fee: Another fact about Bitcoin casinos is there is hardly any transaction fee. You can have unlimited transactions every day without paying anything extra. In traditional online transactions through a bank or other financial institute, you can get only a few free transactions. Still, at Bitcoin casinos, you can make as many transactions as you want.



How do Bitcoin casinos work?

Except for depositing and withdrawal, most of the Bitcoin casinos are not different from traditional casinos. Bitcoin casinos do not take funds directly from any banking account or card; instead, they have their wallet where you can deposit funds and get Bitcoin in exchange for that.

Once you have Bitcoin in your wallet, you can use it for betting. The amount you can use for betting depends on the Bitcoin present on your wallet. Some Bitcoin casinos often arrange mega jackpot like the traditional casinos, and you can have a chance to win a significant amount of money. Some casinos even offer a chance of winning 500 bitcoins at one massive go. Apart from the mega jackpot, other games are going on throughout the day.

If you win any sum in the game, you can transfer the amount to your private wallet first and exchange it for the traditional currencies. However, with most casinos, there is a withdrawal limit. You cannot take out a large amount at one go. Different casinos have different limits. So, it is better to read the terms and conditions of the casino properly before you join.

Are the Bitcoin casinos legal, or are they under scrutiny?

Like the traditional casinos, Bitcoin casinos are also under the lens in some countries. The legal policies are different in different countries, and there is no standard law for these casinos throughout the world. Some states have legalized it while others have put heavy restrictions or ban them. Before joining a Bitcoin casino, you should check if it is allowed or prohibited in your country. You might be in trouble if gambling in Bitcoin casinos is not permitted in your country. 

Some Bitcoin casinos allow users to join without their real identity; however, that does not entirely mean that you can avoid the eyes of the law. If any legal authority wants to investigate and go to the root, they can do so though it may take some time to analyze all the transactions. So, it becomes critical to check if there is any legal obligation in your home country before joining a Bitcoin casino.

What is the way ahead for Bitcoin casinos?

Bitcoin casinos offer a lot to the gambling industry, especially using a pseudonym to hide your identity or escaping from legal regulation or fast transfer of bitcoins. While some states have legalized Bitcoin casinos, others have put restrictions. There is still no clarity over the future of Bitcoin casinos as of now; however, they may be authorized in the places where it is restricted but with more transparency. 

Conclusion

Bitcoin casinos are a great place to try your luck; who knows you might end up winning a jackpot in the first few attempts. However, the opposite can happen as well; you may not win anything every time after trying multiple times. The moot point is you should not get addicted to it else you might end up only losing. It is excellent to take a pause and try at a specific interval. Another crucial thing is that you must check if there is any legal constraint in your home territory to join Bitcoin casinos. You do not want to be in trouble for gambling.

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Best Selling Tech Products on Amazon right now!

Amazon is a great place to shop from the comfort of your home. The only two things you need to shop on Amazon is a mobile phone or a computer and an internet connection. Everyone already has access to a mobile phone or a computer these days and it is very easy to get a good internet connection with a lot of dependable options like Spectrum bundles and Xfinity offers to choose from. With the current world pandemic, it is better to order online then to physically go to a store for purchasing your goods.

Let’s say you are building your own computer and looking for a good mouse or keyboard, you just need to go to amazon and select the keyboard you like to order. Amazon has a prime access account with plenty of perks attached to it. Amazon Prime lets you have a same-day delivery option on some of their its products. You also get access to Amazon Prime Video, which is a video streaming service with a huge collection of Movies and TV shows. If you are a shopaholic then you definitely want to have Amazon Prime.

If you are looking to shop for tech products then here are some of the amazing Tech Products trending on Amazon right now.

1. Echo Dot (3rd Gen)

Echo Dot is a smart speaker that has Alexa, a smart assistant installed in it. This is 3rd iteration to the original echo dots that were introduced in 2016, they have improved upon greatly with the quality of the product. Echo dots allow you to communicate with your smart home setup and can be integrated with your smart home devices easily. You can order voice commands to Alexa like changing the music or turning off the lights. This is a small device that can easily fit into whatever décor you are going for. Echo Dots are available on amazon for 49.99USD and are a great purchase if you are looking to complete your smart home. The only small issue with the small size of the device is the volume of sound which due to the size is not mind-blowing but is good enough and quite clear.

2. TCL 50S425 50 inch 4K Smart LED Roku TV (2019)

This 4K smart LED television from TCL is the most trending right now on Amazon with more than thirteen thousand reviews of which most are positive. TCL makes good electronics at very competitive prices. The TV comes preinstalled with Roku for all those cord-cutters out there. The TV features a 4K Ultra HD Resolution panel with 120Hz CMI effective refresh rate and is certified for HDR content. It is also compatible with Alexa and Google Assistant, you can easily hook up the Echo Dot to the TV and you can control the TV through voice commands with the help of Alexa. If you are in the market for a budget of 4k TV then this is the best option available right now. The TV is currently priced at 329.99USD on amazon.

3. Wyze Cam Pan

This is the bestselling security camera with more than twenty-three thousand reviews. Wyze Cam Pan can Pan 360° from left to right, Tilt 93° vertically up and down, and can zoom in on objects. This can record or stream live video at 1080p resolution and you can see inside your home from anywhere live using its app on your mobile phone. You can even have two-way communication, as this has a speaker and a mic built into it, using the app on your phone. It also has motion and sound detection and can record a 12-second clip when it detects movement or sound and uploads to the cloud for 14 days, for free. It also has night vision mode and can let you see up to 30’ in absolute darkness using 6 infrared (IR) LEDs. All of this comes in at a very reasonable price of 37.98 USD on amazon.

4. Acer Aspire 5 Slim Laptop

The best-selling laptop currently on amazon is Acer’s 15.6” laptop Aspire 5. The screen is 15.6” Full HD(1920×1080) IPS panel which delivers awesome video quality. The laptop is powered by an AMD Ryzen 4 3200u with integrated graphics. It has a good battery life with around 7 hours of screen on time doing casual work. It has a 4GB DDR 4 Ram and a 128 GB SSD. It has a nice feeling keyboard which is back-lit. It is perfect for a high school or a college student who wants to have a basic laptop for school work and enjoying videos on the amazing IPS screen.

5. Anker Wireless Charger, PowerWave Stand

Anker is a very reputable brand when it comes to great quality mobile accessories like chargers, power banks, and earphones, and this wireless charger is no exception. It is certified for Apple iPhone 8 and above and Samsung Galaxy S8, Note 9 and above. The wireless charger provides 10W fast charging to Samsung devices and 5W charging to apple products. This is a case-friendly charger and can charge phones that have cases with a maximum of 5mm thickness. If you are looking for a wireless charger than Anker is the best 3rd party company you can buy from. The charger is currently very limited and you need to be quick if you want to buy it. It is currently priced at 12USD on Amazon.

Just be careful when you go shopping on Amazon as there are a large number of great products and you don’t want to go crazy and buy a lot of unnecessary things and max out your credit limit. 

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Business Contingency Planning: 4 Things You Need To Prepare

No business owner knows when a disaster is going to hit their firm. For instance, if the server crashes, you could lose a significant number of loyal customers. Such an occurrence could turn the business upside down. Established companies can also go through the same thing, but what keeps them going is a set of strategies prepared to cover such an unfortunate situation. This is where contingency planning becomes of the essence

So, what’s a business contingency plan?  It can be defined as a proactive strategy that clearly lists and explains the main course of actions to be taken by all personnel in response to unforeseen disasters. This plan plays a significant role in ensuring proper risk management, disaster recovery, and business continuity. This article aims to expound on some of the main things you’ll need to prepare in a business contingency plan. 

1. Emergency Preparedness Checklist 

One of the most important things that should be put into consideration is the emergency checklist. The main reason why you need a contingency plan in the first place is to avoid panicking when disasters hit your business. In your strategy, there should be a list of things that’ll be used to ensure that everything is brought back to normal within the shortest time possible. Apart from emergency tools and equipment, the checklist also comprises of various people who will be actively involved in the process.

Here are some of things to include in your checklist:

Employees’ leader in case the managers are unavailable A legal counsel that’ll be accessible if and when required First-aid kitsEmergency numbers



2. An Alternate Communications Center

If you have your communication center in the same building as the rest of the departments, you run the risk of losing your business in case disasters strike. Communication is, perhaps, the most critical aspect of any business. It becomes even more significant when the company faces unforeseen problems, such as fire or natural calamities. In such cases, if your loyal customers don’t get any information from your side, they might start looking for alternatives. 

 It’s always recommended to have an offsite communication center to avoid having all your operations being shut down by a single disaster. Alternatively, you can have onsite and offsite communication centers so that you can quickly set up the latter when needed. The advantage is that you’ll have the resources to reassure your customers that things will be back to normal as soon as possible. Also, make sure you appoint the people that’ll take charge of this department to avoid confusion. 

3. Keep Your Records Intact

Although documenting your operations is an essential aspect of a business, not all companies give it the seriousness it deserves. As part of the contingency plan, you’ll need to record all processes that keep your business moving. Remember, no matter how insignificant an activity looks, it might play a considerable role in the recovery process. 

Therefore, urge your employees to document all the daily tasks they’ve accomplished. These records should be kept in an offsite store. The same goes for computer files. To make your plan even more efficient, you should employ cloud computing across all departments in your firm. After backing up your data, make sure these files are accessible by the relevant authorities.

4. Insurance 

If you’ve not yet insured your business, then you’re playing a risky game with your investment. In fact, this should be your priority because trouble can come at any time, and you could end up losing all your property. Whether you’re running a startup or an already developed business, the need for an insurance cover is equally the same. It can mean the difference between recovering and closing your doors after a disruption to the normal operations. 

Make sure you have regular meetings with your insurance agent to discuss your current situation and any updates. This will give you adequate knowledge of how to file a claim quickly. It’s worth noting that you should consider a policy that will not only cover your physical losses, but will also reimburse business disruptions.

Closing Remarks

A contingency plan ensures that your business recovers quickly from disruptions that may significantly hinder all operations. A good strategy is one that keeps all the possible outcomes into consideration. An emergency preparedness checklist is one of the main requirements for a successful contingency plan. Communication is a crucial aspect during such times, therefore, having an alternate communication center will be very useful. Also, don’t forget to keep your records safely and follow up on your company’s insurance cover. 

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7 Common Accounting Mistakes Entrepreneurs Make and How to Avoid Them

According to statistics, your business is more likely to fail than flourish. If you are in business or looking to get into entrepreneurship, the goal is obviously to build a profitable enterprise that will enjoy longevity. 

Business accounting is one area of running a business that can significantly contribute to your business, success-or lack thereof. 

By being cognizant of common accounting pitfalls and how to avoid them, you can significantly increase your odds of a long, lucrative entrepreneurial journey. 

Here are some of the more common ones.

1. Equating Profits With Cash Flow

Take a scenario where you bag a $100,000 deal, with an expected delivery date in three months. This project will take $30,000 to execute. Entrepreneurs in such a scenario are tempted to book a $70,000 profit before ever getting started on the job.

Big mistake. 

Take the above scenario. If the project takes longer than expected or costs more than estimated, it could create a lot of problems for your business. 

By spending more cash than anticipated, you risk leaving your business cash strapped. This would mean struggling to pay utilities, salaries, and even taking on more work.

By taking the time to understand the fundamentals of profit vs cash flow, you will be a step ahead in protecting your business from cash flow issues. 

2. Not Differentiating Contractors From Employees

Whether a worker is contracted or is a permanent employee impacts your taxes significantly.

It affects how much taxes you should withhold, the types of taxes as well as additional overheads your business must pay. 

Because the two forms of employment are different, the differences must be accounted for as well. Failure to do this can cause the IRS to flag your business. You need to understand the consequences of this or hire an accountant who can guide you.

3. Slacking on Bookkeeping

At times entrepreneurs fail to do proper bookkeeping, especially when they deem their company to be doing well.

From small payments to large payments from clients, it’s important to ensure all transactions are categorized and recorded. 

This is important for companies of any size.

Doing so will give you a clear picture of your company’s financial health. It helps you make projections for the coming months and can be useful when you need to cost cut.

Some items tend to fall through the cracks, especially when traveling or when constrained by time. A cloud business accounting software allows online bookkeeping by allowing you to access and update your records anytime, anywhere, and anytime. 

Tools go a long way in supporting internal reporting, which ensures sound business accounting. 

4. Attempting an Inclusive DIY

Understandably, you would not want to spend a dollar more than you should have to. And new entrepreneurs tend to want to handle their accounting themselves. 

From errors in your books to missing out on tax deductibles, running your business accounting in-house can be disastrous. 

If hiring an accountant on a full-time basis is not an option, a business accounting software can help you run your accounting. A cloud business accounting software works best as you can access your information from anywhere provided you have internet access.

5. Failure to Reconcile Bank Accounts With Books

It’s not uncommon to have some errors when recording transactions. This makes reconciling accounts critical. 

Reconciling is checking that your account balance reflects correctly in your business bank account. When this is not done often, the two statements might fall out of sync, depending on how often errors are made. 

Ensure to reconcile your accounts frequently. This ensures you track your business finances accurately. 

Today, you can get good business accounting software that can help with reconciliation. 

The good news is that cloud business accounting software is affordable and comes with different pricing plans to fit your needs. 

6. Working With Ambiguous Budgets

Often, entrepreneurs will pick up a project without knowing how much it will cost them. 

When you do this, you will sometimes spend more than intended or more than makes business sense.

One of the initial steps to take before commencing any project should be to create a budget. 

This shows you what your potential ROI will be. It also acts as a gatekeeper in matters of finance. By consistently comparing project progress vis a vis your budget, you can track spending and take corrective measures when need be.

If you are using a cloud business accounting software, everyone on a project can access the budget and act accordingly. This is because online bookkeeping systems allow multiple users at a go. 

7. Blurring Business and Personal Finances

First-time entrepreneurs also make the mistake of mixing business and personal finances.

These infractions might seem minor when your business is small but can pose significant issues once you begin to scale.

The best way to set up a business is by opening a business account. Among other benefits, this will make business accounting functions such as reconciliation and tax processing much easier to execute. 

Streamline Your Processes with Business Accounting Software

Understandably, you might be unable to hire full-time accounting staff when starting.

An online bookkeeping software solves this problem perfectly. ZarMoney is a trusted business accounting software that helps entrepreneurs track their business finances. 

Undoubtedly, a reputable online bookkeeping system is one way to streamline your accounts and take your business to great heights. Start a free trial now!

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5 Ways to Use a 3D Printer in your Day-to-Day Life

Even if you’re not particularly tech-savvy, you’ve definitely heard of 3D printers and have a basic understanding of how they function. The question is, what is in it for you? The answer might surprise you, as 3D printers have more range than you could have imagined. So let’s dive right in and see what can you achieve with the help of this device even if you don’t own a manufacturing business. 

1. Use it as a learning tool

A 3D printer basically brings engineering, science, and art together, creating fun and colorful objects before your eyes. But we rarely go deep and explore how it actually works. This is a wonderful opportunity to learn something new and if you have children, they would love to be a part of this fun experiment. If they actually help in assembling the device and choosing the model to print, it might spark interest in 3D printing and STEM fields in general, depending on their age. So this can be an experience you could share and learn together. This device has the potential to teach the basics of chemistry, physics, and engineering while being fun at the same time! Plus, the design software is a bonus learning field as well! 

2. Print household items

You can print so much in a matter of hours if you already know what to do! Broken cabinet handle? No problem, just print yourself a new one! If you want a custom-made phone holder for your car, you can manufacture it yourself! Literally anything within a certain size-range is doable. It comes down to your skills, drive and the quality of the printer itself, of course. Plus, 3D printing at home gives you the imagination boost missing from our every-day lives. Why not dedicate a weekend to making a new configuration of a shoe hanger? Or printing a batman for your nephew’s birthday? As soon as this amazing tool enters your household, there’s no stopping the free-flowing ideas and all the madness!

3. Print home decor

You can also bring some fresh air into the house in the form of new decor. Now it undoubtedly matters how large the printing capacity on the printer is, but you can also make it modularized. Meaning your decor can consist of parts that you later put together. This way you don’t have to set yourself a limit at all! Let your imagination take over and create something truly unique for your house. It will create a great atmosphere and will become a conversation starter at all parties. 

4. Start learning about 3D design

We usually don’t even fully realize how quickly can the tech progress move. Being able to keep up with it is such an invaluable skill. One of the fast-growing branches today is design and 3D design in particular. Having that kind of skill will help you not only to print fun stuff and toys but may become a new profession for you if you actually like the creative component of it. As people living in this ever-changing world, we are often confronted with the necessity to adjust and be flexible. Acquiring a new skill will give you more flexibility and the opportunity to choose rather than to be chosen. 

5. Print souvenirs and merch with your company logo on it

If you have a small business, you know how expensive can the little things get. Having a 3D printer will give you the opportunity to cut back on some of those expenses and get a quality product without leaving the office. You can print things like souvenirs, 3D logos, coasters with your company logo, etc. The possibilities are truly endless. Get your creative cap on and you can come up with so many ideas on how to promote your business using a 3D printer. 

3D printing is on the way to becoming a solid part of our lives for the observable future. So the sooner we get into the game, the better. We have to not only understand the general principles behind the device, but also learn to use it to our advantage.  Regardless of whether you are going to print coasters for your mom, or make Christmas decorations with the kids, having a 3D printer around the house will create an atmosphere of creativity and innovation, that can inspire you to great new projects!

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