Mohit Tater's Blog, page 542

6 Main Traits You Should Adopt as an Entrepreneur

Being an entrepreneur is not something that everyone can achieve

Some people think that the can be an entrepreneur but in reality, they are just growing the business that is already set in place.

An entrepreneur is born with a clear vision of what she wants to do and is willing to build her empire from ground up.

Entrepreneurs come in many different forms. The business or venture does not necessarily have to be huge to begin with but with the right mindset and skill, an entrepreneur can make it massively successful.

Being an entrepreneur is quite nerve-wracking because it usually comes with the sole responsibility of the risks and rewards that come with it.

What is an Entrepreneur?

An entrepreneur is an individual who is not afraid to take risks and is willing to go all in with an idea. In simple words, an entrepreneur is generally a go-getter kind of personality who is willing to take all kinds of risks in order to make their “dream” a “reality”.

These people are not procrastinators by any means and know when to jump in at the right opportunity.

Here are some traits that are necessary for any entrepreneur. If you think you are or can be an entrepreneur, you should have these qualities in your personality.

1.Being organized

An individual who has a personality of an entrepreneur has to be organized. If you read about the lives of successful entrepreneurs, you will notice that these people have very methodical mindset. Even in small day-to-day activities, they follow a certain pattern. As a result, they know what they want and their mind is constantly working towards achieving their goals with laser focus.

2. Knowing the value of time

Most successful entrepreneurs clearly know the worth of their time. They have a clear realization of how they can use their time effectively. Even their casual meetings and hangouts have some long-term purpose/goal attached to it.

Being a successful entrepreneur means you should know which side of your business needs most of your time/attention plus what are the tasks that you can outsource in order to spend your time effectively.

3. Thinking outside the box

This is probably the most important trait of an entrepreneur that makes him/her different from an average human being.

These people are an excellent blend of conceptual, analytical and synthetic thinking. It means they can come up with an idea, comprehend the different aspects of the idea and are able to devise a method to make it work successfully.

It is one of the finest characteristics of a successful entrepreneur and it pushes these people to take their ideas towards accomplishment way faster than average individuals.

4. Trust their gut

Being an entrepreneur means you need to have this attribute in order to select the right opportunity at the right time. Most successful entrepreneurs have taken some dramatic decisions in order to advance in their projects/ventures.

Being able to follow your inner voice can benefit you in more ways than you think. It can lead you towards the right path even in the darkest times of your life.

5. Highly determined and motivated

Successful entrepreneurs are usually a bunch of hustlers who are very determined and highly motivated. If they are on to something, sleep feels like waste of time to them.

They don’t mind long working hours and can keep themselves “In the Zone” until they have achieved their target. Most of these qualities are natural but it is possible to develop these traits if you practice over a long period of time.

6. Not afraid to be alone

Sadly, there is a large number of successful entrepreneurs whose personal life has been affected adversely because of their workaholic personality.

It can be challenging to balance your personal life and ambitions. Being a successful entrepreneur is never afraid to be alone. These people are not afraid to cut cords, whether it be personal or business if the need be.

Success comes with power and not everybody can handle power. It is quite possibly the only disadvantage of being in a powerful position.

Final Thoughts

Being an entrepreneur comes with many challenges. For some, a right opportunity can lead them to a path of success.

While there are others who keep trying different ideas for years and years and finally come up with a successful one.

In both cases, the basic traits are pretty much the same. Dedication, motivation and high expectation are the foundations of a successful entrepreneur.

Danielle Kunkle Roberts is a founding partner at Boomer Benefits and a Medicare Supplement Accredited Advisor. She and her team help thousands of baby boomers learn the ropes regarding Medicare every year. 

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Try Exam Labs Exam Dumps to Study and Pass Cisco CCIE R&S 400-101 Exam

Introduction

Experts in every field should have proper professional skills and knowledge. These capacities are attained through deliberate study during several months, or even years. A valuable certifications’ and high-tech IT processes provider Cisco offers a reliable plan to study and acquire skills through training, exams, and certifications. Thus, one needs to study and practice their knowledge using the best resources available following by taking and successfully passing the required tests. In this view, the Cisco 400-101 exam which leads to the certification of the expert level is among the must-have assessments networking professionals need to take to get the cutting-edge preference in the profession visit website . 

In this article, we propose reference to the test details, and the top resources to prepare for it.

400-101 Exam and the Following CCIE R&S Credential

Cisco has several certification levels that professionals can go through to acquire skills, pass a test, and earn the certification. These stages include entry, associate, professional, expert, and architect levels. We’ll talk now about an expert-level 400-101 two-parts exam leading to the acquisition of the CCIE Routing and Switching (CCIE R&S) credential. 

As you plan for 400-101 exam, don’t forget to sit for it before February 24, 2019. The assessment is among others set to become obsolete on February 23, 2019 as Cisco is replacing some of its exams. By passing it by this date, you are gaining the CCIE R&S certification that you’ll earn credits for once the new tests are rolled out, and candidates will be required to pass them. The CCIE Enterprise Infrastructure certification will replace the current CCIE R&S one.

Exam 400-101 Overview

So, the assessment has two parts. You’ll have to take the written and the lab exams to qualify for the expert credential. Cisco 400-101 targets to test your expertise in configuring, validating, and troubleshooting complex business network architectures. Other areas include the grasp of how architecture components interoperate and translating functional essentials into specific configurations for devices. Passing 400-101 exam is a valid proof that you can carry out the above mentioned tasks successfully.

What You Need to Do to Pass Exam 400-101

You’ll be required advanced experience and knowledge to correctly answer 400-101 written exam questions and successfully perform the lab test tasks. Passing the written test is a prerequisite for proceeding to the lab-based part. Here, you’ll be required to fulfill certain requirements including attaining a specific passing score to qualify. Cisco doesn’t give the exact passing scores for their tests as they’re subject to changes once in a while. 

The written 400-101 exam has 90-110 questions with 2 hours given to complete the test. The questions might include drag-and-drops, testlets, fill-in-the-blanks, simlets, multiple choices, and simulations. The cost of the test is $450.

Both the written and the lab tests have the same topics except for Evolving Technologies which is missing in the lab test:

•    Network-based principles

•    Layer 2 technologies

•    Layer 3 technologies

•    Infrastructure technology

•    VPN technologies

•    Infrastructure services 

•    Evolving technologies

Here a candidate must perform network configuration and troubleshooting tasks within 8 given hours. This lab exam will cost you $1600.

Cisco Resources to Study and Pass 400-101 Exam

You should be careful in selecting materials for 400-101 test revision since not every resource purporting to help you pass the test will necessarily do so. The vendor provides you with valuable training courses, guides, practice tests to ensure you have an in-depth grip of the necessary topics, here are the top resources to use for 400-101 exam.

Self-Study Resources



Cisco’s learning platform provides candidates with great resources and tips that can be used for your CCIE R&S exam prep. Located on Cisco’s website, they include:Evolving Technologies Study ResourcesLab Exam Study and Exam Taking TipsSpanning Tree Protocols Initial ConceptsRouting and Switching Troubleshooting Tips, and much morePractical Labs

Acquiring hands-on based experience can only be possible if you use labs to practice. Using Cisco’s lab environment is the most recommended way to acquire these skills. These are labs to benefit from:

Virtual Internet Routing Labs (Cisco VIRL PE)Modelling LabsLearning Groups

Connecting and studying with other candidates preparing to take 400-101 exam is also another way to polish up for the validation. Sharing ideas and gained experience, asking questions, are some of the things you can do in these study groups. 

Cisco Training Library

The Cisco Platinum Learning Library is an online certification platform covering various products and technology training programs. This learning resource is accessible through subscription. The platform gives you access to complete interactive courses, lab training, and multiple reference materials.

Exam Labs Tips and Training Materials for Exam 400-101

This acknowledged website offers vetted training resources that are opening you plentiful learning and employment opportunities by easily passing the exam. 

Don’t hesitate to taste 400-101 Premium Bundle, proposing you a unique opportunity to get 3 types of valuable materials all in one package just for $39.98! You can also opt for purchasing Premium Files separately for $29.99, a Training Course, and a Study Guide each for $17.99.Alternatively, open up for Cisco 400-101 Training Course Written to validate and enrich your test knowledge through credible videos.Try on free 400-101 exam dumps based on exam-passers experience slightly and easily!Surely, don’t miss extremely useful ETE Software created by the Vumingo team. This educational exam simulator creates the real exam environment and makes your training process interactive and effective. Utilize the real testing environment in your preparation process just for your exam confidence.



Conclusion

The highlighted study resources help understand what you need to pass 400-101 test seamlessly. With the right materials combined with the correct attitude and effort, sharpening your skills is all you need to do. Ensure no gaps are left as you bring out the networking capacities by taking over your Cisco exam! Use Exam Labs exam dumps to hone your skills and see the level of your readiness.

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6 Things you MUST Do Before Your Open House

Selling your home is an exciting time,
however, you have a mountain of preparations that need to be done before you
sell it. One of the most important of these is preparing for your open house.
Preparing for the open house is more than sticking a sign in your yard and
opening the door. When you have a real estate broker, you will not have to know
all of the details; however, there are still many things you can do to help
out. Alternatively, if you are managing your open house without a broker, then
there is no need to worry because you can use these proven tactics, and it will
make your open house more successful.

Here are the best tips to make your open house
go smoothly:

1. Make Needed Repairs

The biggest mistake many open house presenters
make is to show their home while work remains to be completed. The last thing a
buyer wants is to have more work to do after they move to a new address. Many
buyers have no handyman skills; therefore, if they want the repair done, then
they will have to pay contractors potentially high amounts to hire them. For
most home buyers, buying an unfinished home is like buying a used car that is a
lemon — they usually won’t don’t do it!

2. Stage Your Home

The definition of the word extrapolation is to
be able to see the end result of something before it is finished. However, when
most potential buyers visit your home, they have zero ability to recognize the
same future vision which you possess for your house. Staging is a tactic which
helps them overcome their limited imagination. By placing furniture and
decorations in the home temporarily, you paint a picture of your property’s
potential value for them. This drastically increases the possibility of
creating a bidding war between buyers.

3. Get The Word Out About Your
Open House

Don’t leave it solely up to your broker to advertise the house. You can do a lot of promotion yourself that will do wonders to increase attendance on open house day. The method that will get you the greatest result is to announce your open house by passing flyers out to all of the surrounding neighbors. Also, be sure to post flyers everywhere that you can, such as libraries, grocery stores, and the post office.

4. Schedule Your Open House
Properly

A key to a successful open house is to have it
at the best time of the day and week. Most people have found that holding the
open house on a Sunday afternoon usually gets the best results.

5. Make Your House Smell Good

The fastest way to turn off a potential home
buyer is to show a house that smells bad. You should open all the windows
before the open house. This will let the stale air out and fresh air in. Also,
to bring a pleasing smell to the house, be sure to put a couple caps of vanilla
extract in the oven, and bake it at approximately 300 degrees for about an hour.

6. Pest Control

Pest control is probably the biggest thing that is overlooked when planning an open house; however, it is among the top necessities before you allow buyers to enter your home. If there are any signs of rats or mice, then most buyers will run for the hills. Additionally, evidence of insects, such as bed bugs or roaches, will strike fear in buyers. Unwise sellers might think that they can hide the presence of unwanted pests from a buyer, but it can result in a costly lawsuit. Therefore, your best course of action is to call Turner Pest Control in Jacksonville, FL, so an expert can evaluate the situation for you.

In conclusion, preparing properly for an open
house can make your house sell more quickly. Remember, you only get one shot at
showing a buyer your house for the first time. If you sell your house fast,
then you’ll be glad that you took the necessary steps to do it right.

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Companies That Are Getting Creative With Cryptocurrency

As 2017 grinded to a halt, cryptocurrency investment options has turned into one of the most explored options by leading investors around the globe. Regardless of whether or not you’re thinking about making a substantial financial investment in cryptocurrencies at this point in time, it’s going to be well worth it to invest some time in keeping track of the cryptocurrency wave and the impact created by its supporting blockchain technology in different sectors, just because it’s simply fascinating to see this disruptive force change the face of the industrial and financial sectors.

Blockchain Juggernaut

The key operative question is no longer IF cryptocurrencies will be able to make an impact on the world, it is now WHEN it will turn mainstream and consequently require governments around the world to redefine their economic policies to accommodate the change in full.

It no longer needs a long stretch of your imagination to envision a future where cryptocurrencies and blockchain technology influences the most intricate details of our everyday lives. These are surely exciting times.

The technology behind cryptocurrencies like Bitcoin and Ethereum goes far beyond the scope of currency and secure digital payment solutions. What blockchain essentially does is cut out the middleman eliminating the concentration of power at any point. That’s the basic principle that makes cryptocurrencies so attractive as a payment option in the first place.

You have access to your money without being at the mercy of banks or exchange agencies from anywhere in the world.

Steady Adoption

A wide range of businesses have adopted blockchain technology into their processes. For instance, it has been used to reinforce supply chains by food processing companies. This enables the business owner to create a documented process chain, giving the consumer the power to know, say for example, where the tuna in his sandwich came from and how it got there. Automated security is another realm where blockchain has been practically implemented successfully.

You have the newly launched cryptocurrency that instead of being mined is created by mapping your movements. To put simply, “Bitwalking dollars” is a cryptocurrency you can earn just by walking! An app on your phone measures your steps and rewards you with 1 Bitwalking dollar for every 10,000 steps.

These are just a couple of instances that demonstrate how cryptocurrencies can provide you with actual solutions to everyday problems. However, by the path it has taken, it’s just a matter of time before cryptocurrencies and the blockchain technology on which it is based will be playing a major role in providing solutions for everyday needs in real-time to the extent of redefining basic governance.

Top Creative Cryptocurrency Companies

Realizing the huge potential that cryptocurrencies and its fundamental technology hold for the future, quite a few companies have been seeking fresh and innovative ways to capitalize on this opportunity. These include:

Divi Project – Online money transfers and transactions have grown to be a common aspect of our lives. However, an increasingly large number of people have been duped or inconvenienced at some point while using an online wallet or “smart wallet.” Divi Project changes all that. This is a perfect representation of a cryptocurrency-influenced future.

The Divi project enables users to send money with the ease of sending a text or personal email. The application is developed keeping the convenience and security of the user at the center of it.

Javvy– This cryptocurrency exchange or wallet is highly secure and not based on the internet. With Javvy, you have no need to access numerous low-security web based accounts. Apart from that you can buy, sell, or make use of your cryptocurrencies effortlessly.

Like Divi, Javvy is extremely user-friendly and safe to use. It’s one of those original firebrand cryptocurrency applications that is sure to find a popular identity among the common population as well as corporate entities.

Coinbase – One of the superhero performers of the cryptocurrency galaxy, Coinbase has managed to garner more than $200 million in its venture capitalist funding round. It is arguably the most popular interface today for the sale and exchange of the world’s most trending cryptocurrencies.

Coinbase has enjoyed a great deal of popularity in recent times, having a validated presence in around 30 countries with a customer base that touches 11 million as per recent market reports.

Circle – Yet another money transfer application based on cryptocurrency, Circle aims to take away the complications and risks associated with sending money across the globe. In fact, it’s done a pretty good job of making it a fun experience. It’s extremely convenient to make a group or send money through a one to one transaction without any fees. The interface is pretty smooth and a breeze to work through, making it a great tool to send and receive money from family and friends. Circle’s evolution curve certainly gives it promise to be a great contender in the cryptocurrency arena.

SpectroCoin – Working with more than 30 of the most established currencies and accepted in over 150 countries, SpectroCoin helps manage your cryptocurrency funds in a seamless manner. They provide a physical debit card that can be used in more than 30 million ATMs across the globe. The state of the art platform enables businesses to receive bitcoin on the internet as well as in person.

Bancor – One of the more innovative and game changing characteristics of cryptocurrency technology is its ability to generate reward currency through smart-contract blockchains. Through this protocol, the user can develop built-in price discovery as well as a liquidity feature that facilitates tokens with smart-contract blockchains as the foundation. The most attractive aspect of Bancor is the fact that business owners can generate reward currencies for utilizing their services.

Shapeshift – Just like the name infers, the interface for this cryptocurrency exchange platform is so simple that it almost seems to lack any specific form. You have absolutely nothing to do to get started here. Just select the cryptocurrencies you intend to exchange, provide an input for the payment mode of your choice, and you’re done! Simple as that. Goodbye sign ups and transaction fees! With its ultra light interface and simplistic design, Shapeshift easily qualifies as one of the best options for beginners in the cryptocurrency market.

Stream Token – Stream Token is theoretically a dream come true for creators of high quality content on the web. A relatively new entrant into the cryptocurrency sphere, Stream Token enables content creators to gain monetary control over their content. Over the years content creators have been at the mercy of key entities to get due rewards for their content and have been in most cases, been undervalued and underpaid for their high quality content. Stream Token provides an easy to operate platform for creators to monetize their content instantly and connect directly to their audience without taking a fee. The platform is decentralized. An audience can directly reward creators for their content allowing creators to focus directly on what they do best instead of worrying about monetizing their content and getting what is worth.

Monetha – Built on the Ethereum platform, Monetha has gained worldwide trust through its decentralized payment solution designed keeping business owners in mind. Monetha provides access to multiple business platforms including mobile, ecommerce, and retail arenas. Anybody who buys from this platform will have access to unbiased reviews of previous transactions implemented on the chain. The decentralized nature of the platform holds all users and buyers with a certain level of accountability making it secure and viable.

Bitpagos –Bitpagos is more than just a decentralized cryptocurrency platform. It has the elements of a revolution with the aim to revitalize the Latin American financial sector and transform it into a world class digital financial powerhouse. Bitpagos has an impressive array of tools and a wide range of available platforms that it operates on making it a viable solution for both business owners and consumers in Latin America to create a solid network of blockchains to help facilitate the expansion of bitcoin. Owing to the significantly lower volume of competition in that part of the world, Bitpagos holds a major advantage over the rest of the competition.

The Road Ahead

These are just some of the most prominent companies making a creative wave on the cryptocurrency scene. Already cryptocurrency and its blockchain technology has made a dominating presence with small and big businesses adopting it for implementing smart contracts, executing payments and transfers across the world, notary purposes, a solution for establishing digital identity, and creating gift cards or loyalty programs. It is just an indication for the creative potential held by cryptocurrency in the current situation. There is a lot to look forward in the next ten years.

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Essential Decisions To Make When Opening a Brick and Mortar Business

These days, many entrepreneurs launch businesses in the digital realm and
build a loyal customer base through online sales and social media. These
virtual relationships foster business growth that can turn into a brick and
mortar location.

If your business has reach this stage, then congratulations! It’s not easy
to make it this far. In terms of moving forward with your brick and mortar
opening, there are many factors to consider before launch.

We have compiled the essential decisions you’ll need to make to open your
brick and mortar store smoothly.

Lease or Buy?

The good thing about opening a physical location after building an online
presence is that you already know what you are looking to sell. You know what
products are successful and now you just need the right space to set up shop.

Before looking at spaces, you need to decide if you want to lease or buy a
space.

What level of commitment are you looking for in this location?

·     Leasing gives you the flexibility to move
spaces or expand if necessary. A management company will maintain the building,
which alleviates some work on your part. 

·     Purchasing a property is definitely more
expensive and means you cannot walk away from the ownership. You would have to get
a loan to cover the mortgage. You will build equity in the building over the
years and have complete control over the space – including any modifications
you need to make.

Once you answer this question, you can move onto the next step.

Location, Location,
Location 

Once you decide if you want to lease or buy, you need to find the support of
a local real estate agent. The location of your business can impact your level
of success. Some factors to consider are: 

·     Style: What kind of
vibe does your business have? Are you looking for this location to be casual or
more professional? Do you want a trendy space or something traditional? 

·     Zoning and Codes: Some
states and cities will have restrictions on where certain business types can
operate. For example, some locations might be zoned for retail and others for
food. This is where a realtor is useful as they know zoning restrictions. 

·     Customer Demographics: As a
business owner, you should know what your customer demographic consists of and
how to attract them. Is this location in a place they will be able to get to
easily? 

·     Visibility: While loyal
customers might take the time to find your location, what about new customers?
Will the location attract people in? Can they easily see the business sign or
will foot traffic pass through? 

A few other location-based factors to consider include: 

·     Parking and accessibility 

·     Competition 

·     Room to grow 

Overall, remember to think of the business from the mindset of a customer.
After all, you ultimately want a space they will enjoy coming to. 

Security 

This also ties into location – but is not a deal breaker in finding a space. Ideally, the brick and mortar location will be in a safe area that people will feel comfortable visiting. As a business owner, you also want the peace of mind that your business will not be burglarized or vandalized outside of business hours. You can (and should) ensure the brick and mortar space has the highest quality security equipment. Companies like DD Counter Measures specialize in providing this peace of mind to businesses.

Infrastructure 

The brick and mortar opening also involves answering questions around
infrastructure. When looking at a space, think about the construction and
design. Is this space able to handle the demands of your business?

For example, if it is a clothing boutique there should be dressing rooms or
the ability to construct dressing rooms in the space. If it is food-based, an
adequate cooking and preparation area is a necessity. The space should be able
to support this or be adapted to the demands. 

Licensing 

Ideally, some of this licensing might already be in progress if you have an
online presence. Businesses have to have an Employer Identification Number
(EIN) and a sales license for retail operations. This is used to report taxes
to the IRS but you probably have an EIN if you have a business bank account.

However, you need to find out if your business requires additional
licensing. A hair salon will need additional certification and licenses to
operate. Other business might also have requirements based on the state you
live in. Licensing and certification might require extra work on your part in
order to open this brick and mortar location. 

Let Them Know 

Spread the word! You want your online base to follow you to this new space. You can always use word of mouth and social media. A physical location should help your business expand through loyal customers and new customers. This only happens if you put intentional decision making behind all choices as you consider your entrepreneurial takeover of the business world.  

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Company Events and Injuries: Is an Employer Liable?

When you think about a workplace injury, you probably imagine an incident happening at work during the normal course of your employment. You may know how to handle these types of injury claims according to your state’s workers’ compensation program. If, however, your accident occurred outside of work but at a company event, you may be confused about your rights. Injuries at a company event may be a gray area in terms of employer liability and workers’ compensation. Find out who may be liable after a company event injury with help from an attorney.

Definition of Work-Related Accident

 Most states’ workers’ compensation programs do not stipulate the accident must occur at the place of work to qualify as compensable. Rather, they say the injury must have happened within the course of employment. The course of employment can refer to actions outside the office, such as while traveling to a work meeting, doing a job on someone else’s property or delivering goods as part of your job. It could also refer to company-sponsored events or retreats.

 According to Wendt Law, a Kansas City injury firm, the main question when determining your eligibility for workers’ compensation benefits is whether you were on- or off-duty when you sustained the injury. If you were on-duty, even at a location other than your typical workplace, you should qualify for workers’ compensation. Your state’s program will most likely cover any injuries you sustain while on the clock, regardless of your location or the circumstances of your accident. If, however, you were off-duty at the time, your employer’s workers’ compensation insurance will not cover damages.

Voluntary vs. Involuntary Events

 If your boss makes an annual company event or retreat mandatory, you may have grounds to file a claim after a personal injury. Involuntary work events mean you could lose your job or face other repercussions for not attending. An accident at a mandatory work event could make your employer strictly liable for your damages. If, however, the event is not mandatory, workers’ compensation may not apply. Most employers make sure company events are voluntary to avoid liability for employee accidents and injuries.

 Workers’ compensation will not cover your damages if you had the option of not attending the event. Since going to the event or retreat was not part of your job description or a mandatory work-related task, you will not be a covered employee at the time of the picnic, volleyball game or another event. In these situations, however, you may be able to hold your employer generally liable outside of the workers’ compensation system.

General Liability for Employee Injuries

 Your employer may be independently liable – outside the boundaries of workers’ compensation insurance – for your injuries if it caused or contributed to them. If, for example, your employer owned the property where you slipped and fell, the employer could be generally liable based on the rules of premises liability. You or your attorney will have to prove your employer’s negligence to qualify for compensation. 

Your employer owed you a duty to exercise reasonable care. The company event must have assigned your employer a duty of care to you in some manner.Your employer breached this duty, causing your injuries. Your employer must have negligently fallen below the standards of care for the situation. This negligence must have been a substantial factor in causing your injuries.You suffered compensable damages at the company event. Finally, you must have suffered a serious injury such as a broken bone, along with compensable damages, to have grounds for a claim.

If you or your injury lawyer can demonstrate negligence by your employer at the company event, you may be eligible for compensation. It will not matter whether the company sponsored the event or not if your employer negligently contributed to your injuries. Although you might not qualify for workers’ compensation benefits, your employer may owe you for medical costs, pain and suffering, and lost wages for causing your damages.

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How to Deduct Business Expenses on Your Federal Taxes

Filing your taxes as a business owner can come with unique and complex tax issues. It is up to you to properly do your taxes or hire a professional to do them for you; otherwise, you could face penalties for making critical mistakes on your tax documents. You could also make a mistake that could cost you thousands of dollars, such as failing to deduct business expenses. Deducting the right expenses could help you shoulder the costs of running a trade or business.

What Is a Tax Deduction?

The Internal Revenue Service (IRS) allows taxpayers to claim standard or itemized deductions each tax season. A tax deduction reduces a taxpayer’s annual income – thus resulting in lower tax liability for the individual. If you have qualifying tax deductions, you may pay less in taxes. Deductions are expenses you incurred during the previous tax year you may be able to subtract from your gross earned income. Taxpayers can deduct many different expenses from their incomes, especially as business owners or sole proprietors.

As a business owner, you may spend thousands of dollars on items that qualify for tax deductions later in the year. This could include property taxes, mortgage interest, health care costs and job-related expenses. The IRS may allow you to deduct all these expenses on your taxes, reducing your tax liability and how much you will have to pay the government. Even travel expenses may qualify as deductions if you traveled for work reasons.

What Business Expenses Qualify for Deductions?

The IRS will only accept certain deductions under the umbrella of business expenses. You cannot, for example, list an unnecessary expense such as flying first-class on a personal vacation as a business tax write-off. A business expense must be reasonable and necessary for the IRS to accept it as a deduction. A reasonable and necessary expense is generally one that is common in your industry or trade. It does not have to be an indispensable expense to be necessary. Many common business expenses qualify for deductions on federal taxes.

·      Raw materials

·      Storage

·      Labor expenses

·      Employee benefits

·      Factory overhead costs

·      Business assets

·      Start-up costs

·      Improvements

·      Business use of your home or car

·      Retirement plans

·      Business insurance

Business expenses are separate from personal expenses, capital expenses and those used to calculate the cost of goods sold. Be prepared to prove to the IRS that an item you listed as a business expense deduction was ordinary and necessary for your business if the IRS audits you. The expense must be common, accepted in your trade, helpful and appropriate for your business. Otherwise, the IRS may refute its categorization as a deductible business expense.

Make the Most Out of Tax Season

Some business expenses may be fully refundable, while others are only partially refundable. If you use a part of your home for personal reasons, for example, you may only be able to list a home office as a business expense. If you provided gifts to your customers as part of your business, these expenses will also not be fully deductible. The IRS only permits gifts up to $25 per person to qualify as business expenses. If the item surpasses this price, you may only claim up to $25 per customer as a business expense. Gifts you give employees, on the other hand, are fully deductible.

If you own your own business, hire a certified tax professional to handle your financial affairs this federal tax season. An expert will be able to limit your tax liability from all possible angles, including listing all available business expense deductions. According to Houston criminal defense attorney David Breston, if you can run in to legal issues if you have income and expenses left off the books. An accountant can help you identify all ordinary and necessary deductions within your business, helping you benefit from maximum tax breaks. The list of potentially deductible business expenses is long. Work with a tax professional to protect your financial interests as a business owner during federal tax time.

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How to Choose the Right Outsourced Development Company

Today, software companies and businesses of all industries are struggling to find top development talent. There is huge competition for the most skilled and experienced coders amongst companies, ranging from Silicon Valley tech giants to startups. One way companies can bypass this horse race is to outsource development to companies overseas.

There are many talented engineers in places all over the world that were not born in the U.S., had no opportunity to come or simply do not want to live in Silicon Valley. Many of these developers work for outsourced tech companies and can be tapped into anytime.

However, it’s not easy to decide what developers to hire and whether to outsource at all. If you are running a company that is already in Silicon Valley and you have the resources to hire a wide range of talent on demand, there is less reason to outsource development. Otherwise, you should definitely consider outsourcing software outsourcing models.

The reasons to outsource are many: 

If you don’t have a lot of funds, you have less ways to motivate developers to come to your company instead of the competition. If you are not in Silicon Valley, you also have less geographical incentives to attract developers.Even if you do recruit top talent, it may be poached at anytime (or at least after the time period between certain agreements is reached). 



Offshore or Nearshore?

Ok, now you know outsourcing is your best bet, there are various options for you to consider.

The term offshore first appeared in the 90s and focused at first on India, some areas in Eastern Europe and Russia. It also was associated with tax havens and as a cheap way to outsource a variety of labor from software development to oil drilling. Nearshore came later as online connectivity and broadband access widened and it became a way for companies to get offshore benefits but with developers that exist in nearby countries.

These two choices provide different benefits. The benefit of the offshore approach includes more options or companies to pick from around the world and these teams can be very inexpensive to hire out, but It will be difficult for your teams to collaborate, set up meetings, or communicate.

For that reason, if you run a company in the U.S. with so many nearby regions in the same time zone with great talent, it makes sense to look for nearshore development companies. Countries in Latin America, for instance, are growing in tech talent and specialize in a wide range of skills. Other countries may be more established but have less creative or overall multi-skilled developers. In nearshore regions many if not most of the developers are bilingual and can easily join meetings remotely as well as collaborate with in-house teams.

Short-Term or Long-Term Tasks?

Another factor to consider is the type of work you are looking for these developers to commit to.

If you are looking for long term software development and engineering tasks such as QA testing or patching updates on existing software, you will want development teams more committed to your brand. You should either consider in-house talent for these tasks or look for nearshore developers. The nearshore option is effective for long term roles and also as a quick way to add top talent during crunch times or heavy development periods within your company’s existing teams.

If you are looking for developers to fill roles in-between projects or to help form a team for the upcoming project, offshore developers can be just as beneficial as nearshore or in-house. Offshore teams can be put to use on tasks that require less communication, meetings or collaboration. A good time to hire such developers is after a product launch when layoffs within the company occur and roles need to be filled, or as a way to support already-released software.

On the other hand, you may want to contract nearshore talent as part of your main development workforce, that will be available for longer periods of time. In this case, the nearshore approach makes more sense the more long term the project is. 

Know Ahead of Time What Sort of Talent Your Projects Need

After figuring out the best approach, you will also need to consider the specialties available within the various outsourced development companies. Talk to your teams and management and figure out what is lacking or needed for your product or service to move forward in productive ways.

If there is a particular language or framework that your in-house talent lacks, like Python or Ruby, for instance, look for outsourced talent specializing in such a language or framework. Also, ask for their experience and portfolio working on similar software in the past. Experience is a great indicator of what the outsourced development team can actually produce for your company and how to make the best use of their skills.

Diversify Your Talent Pool

You should also consider teams that have a wide range of talent. Look for some of their developers to be experienced with mobile app development across different OSes and using different languages to develop these apps. Look for this same team to have coders experienced working with web apps, or SaaS, as well as standard Windows and Mac desktop coding experience.

For long term work, it especially makes sense to have more talent and diverse ways to approach new projects. Having experience using different frameworks and languages for one task makes them more creative and able to approach problems from different angles.

Before the outsourced company sends their coders your way, let them know what is required and know different work they can do. As you develop a relationship with this team, you can put them to use later on projects without looking for new outsourced companies for every project.

Today companies have many options to consider when it comes to software developing. This is both good and bad. It is great because it allows them to be more productive and find talent quicker. But it can be stressful and mistakes can be made when the talent cannot produce what is advertised or where communication or time zone barriers arise.

Thus, research and experimentation is required to find those top outsourced teams. Once this is accomplished, it should be a smooth ride from there as these teams can fill various roles going forward. Finding that team, however, is not always easy and takes some planning and research ahead of time.

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The 7 Benefits of Securing a Drafting Professional

Are you thinking about building your own home? Have you found that the many unknowns are challenging to navigate alone? Have you heard great things about Superdraft and want to weigh the value of hiring a drafter to help you with architectural decision-making? The role of an architect has many facets, from sleek design concepts to innovative design models. Here are seven benefits of securing a drafting professional to help you build the home of your dreams.

1. Drafters Will Interpret Wants and Needs

Homebuilders often have an idea of what they want, but they typically lack the knowledge and experience to bring it all together through innovative architectural draft conceptualization. Homebuilders also need someone who can navigate strict budget guidelines, local zoning laws, building codes and creative style and spacing execution.

2. Trustworthy Professionalism

When building any structure, it is imperative to have a trustworthy drafting professional who knows trending technology, innovative software, digital blueprint workflow, intelligent design model capabilities and operation coordination and communication oversight. Working with a trustworthy drafting professional also frees up time for other matters.

3.
Flawless Designs

A design error will lead to unstable structures and higher construction costs. Working with a drafting professional will reduce these risks of detail mistakes and building errors because of academic projections, best practice knowledge and flawless draft design.

4. Stunning Aesthetics

Most homebuilders
think only about function. Most drafting professionals merge functionality with
aesthetics. Modern homes also now have artistic visionary appeal, unlike in the
past where space was conventional rather than artsy and creative. Working with
a drafting professional allows homebuilders to get the best of both worlds with
innovative layout, technologically advanced concepts and stunning aesthetic
appeal. 

5.
Innovative Drafting Solutions

You want a drafting professional who can deliver on technologically advanced design and drafting solutions, including extensive industry expertise and software knowledge. Having someone who can take your vision and creative desire can mean the difference between functional living space and a well-designed customized home of your dreams. 6.

6. Improves Home Value Investment With Smart Designs

You want to have an industry insider who knows what technology boosts home values. One of the most significant issues facing homeowners is living expenses. A draftsman needs knowledge on topics like how to lower escalating energy costs, where to buy sustainable building materials, renewable energy sources and smart living systems. There is also some thought to drafting and design issues that allow homeowners to utilize their homes through phases without having to invest in costly home renovations.

7.
Takes on the Role of Problem Solver

There is a
consensus that drafting professionals have a reputation as being problem
solvers. A new home builder will not have the expertise or know-how to identify
problematic design or building flaws, but a drafting professional will, which
means you have someone looking out for your best interests throughout the
process.

These seven critical guidelines will help you weigh the pros and cons of securing a reputable drafting professional to help you make cost-effective designing and home building decisions.

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Top Business Trends for entrepreneurs to follow in Q4 of 2019

Q4 was officially started yesterday, and there are enormous opportunities for every entrepreneur to invest and focus. Today we will cover the top three trends that you should follow to have a successful fourth quarter of 2019.

Trend #1 – More data control from consumers

Do you know that EU General Data Privacy Regulation went into effect from June and everything changed in Europe? Now consumers can have massive control over the data companies are trying to get from each person. As of now, you should not get data from third-party companies without the consumer’s consent. If you decide to buy data from third companies, then be sure that it will be a massive problem in the EU. Consumers can sue you and your company and EU institutions will take legal actions. So, in quarter four, be careful with the data of consumers. Don’t buy any data from third-party companies. Also, Deloitte’s latest reports say that those type companies sell inaccurate data.

Trend #2 – Subscription services will continue to grow

We have a new system that evolved in 2019. Subscription-based operations will continue to skyrocket and their percentage in the market. It’s a perfect way to build from scratch or invest in an already established business model that’s based on subscription options. Keep in mind that a company can get monthly payments with the help of subscription options and get more revenue in the long run. Big companies that had one-time fees are adapting payment systems to monthly subscriptions.

Trend #3 – Blockchain systems will be massive for quarter 4.

The bitcoin price drops could be a perfect time to invest more. Warren Buffet says that the best time to invest in the industry is when people are running away from it. Bitcoin price dropped to $8000 last week, and people went crazy. Especially late comers decided to sell Bitcoin as soon as possible. If you look at Bitcoin trends on Twitter, you’ll see that big investors are buying more BTCs now when the market suffered a significant loss. Also, we need to mention the rising trend of BTC as a payment processing system. Even online casino for real money is striving for the adaption to BTC and other Crypto payments.

Investors also think that Facebook’s new coin will give Blockchain systems more trust. As of now, most of the established investors avoid investing in BTC or ETH because of a lack of trust. There are no legislative institutions involved in BTC transactions, so most investors don’t trust this kind of platform. Facebook’s new coin will give these investors the trust and regulations that are needed currently.

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