Category: Business

How Time Tracking Can Kickstart Your Business Growth

No Comments

Business time management is a big challenge for both businesses and individuals. If time is not well managed, projects will get delayed, you will get invoices that don’t match time spend, projects will be poorly delivered and ultimately, business processes will be sculptured. Businesses offering towing service have learned the art of time management, and this discipline has helped in delivering superior results. With time tracking, you can avoid all traps of poor business time management.

Time tracking ensures the right tasks are prioritized, work and projects are completed on time, and budgeting, as well as billing, are always accurate. Time tracking will help you record how much time is spent by a person, business, or team. Through tracking, businesses can iterate and improve on their time management process.

Here is how time tracking improves business time management.

Estimate and bill more accurately

When you are approached by a client for a new project, look at all historical time tracking data you have for similar projects. Doing so can help you more accurately estimate the time invested and the cost incurred. That way, you will also have a few discrepancies between bills and estimates. If a client questions about the invoice, you will have more accurate data to back up your decisions.

Manage capacity effectively

When you are armed with previous projects’ data, you stand a better chance with insights on your capacity and delivery. You will know if you can take on new clients or projects. You will also see the signs when it is time to look for more work or employees.

Gain vital insights

When you take a look at your data delivered to clients and projects you have undertaken, you will evaluate all the sectors that are working and knowledge of the areas you are failing. That will help you take both mitigating and corrective actions that would get you back on track. You will know how to decide on tasks and things you need tweaking.

Identify areas for improvement

Time tracking will help you in pinpointing tasks that are taking too long to be completed, as well as things not going according to plan. You can explore why things are happening the way they are happening and take corrective actions necessary. You will decide if you need to change the way you are approaching tasks, or whether you need to perform tasks the same way.

To get you, employees, on board with time tracking, there’s a couple of things you must get right. You need to explain the purpose and benefits of time tracking to your employees so that they don’t feel as if they are being monitored. Have open communication about your goals and explain how time tracking is beneficial. Have a clear explanation of expectations so that everyone is aligned with your goals. Additionally, do not use time tracking data against your employees.

To get the best out of time tracking, look for applications that track and allow logging and tracking, tracking time by client or project, multiple users and time management, give you insights and overviews, and can create automated invoices.

Categories: Business

How to Become Consistent

No Comments


consiststentAfter years of running my own towing service, and observing successful people, I have come to make some key observations about the true determinants and key to success, and that is consistency. Entrepreneurs who show up every day and put their best foot forward on everything they do are the one who turn up to be successful. Just the same way empires are built brick by brick, financial independence is achieved at one step at a time. So the big question is, how do you develop consistency and stick to it? How do you grow this essential habit?

Here are simple ways to go about it.

Start by segmenting

Segmenting your day is the key and a principle to successfully prepare for the tasks ahead. When you to think about everything you have to do in a single day, you might get overwhelmed. When you have a lot of things to do in a single day, it may overkill you to cause you to crash and suffer a burnout. When you segment your day, you separate it into small actions and chunks and you only focus on mini goals for each segment. You need to stay calm, confident and productive when under pressure. Keep yourself positively focused on actions that help you to move closer towards your goals.


You need to leverage the power of systems. If consistency is one of the biggest keys to success, then it should be noted that systems are the skeleton keys that unlock every door. The true importance of a product is not what it sells but how it sells it. Systems are very important in allowing you to leverage your time as well as that of other. When you develop systems in your day, your business and life will kick off aligned to those systems. Even if something doesn’t happen according to plan, the systems can take care of the uncertainties to bring back normalcy.

Hold yourself accountable

At one time, we all hit a snag and plateau. It can be very frustrating but it is normal in life. The key to breaking off chains be it mental, financial or physical lies on holding yourself accountable on everything you do. You should equally hold yourself accountable for seeking help wherever you have to seek. You can leverage the power of groups or mentors to help you achieve your goals. If you don’t have a major problem with finances, you can hire a virtual assistant to help you along the way and thus create more time for yourself to pursue other goals.

Categories: Business

Best Ways to Fund a Startup

No Comments

startupIf you find that you have a great business idea, funding is nearly the next thing you will be trying to figure out. Every business that has grown to become successful such as Rosedale Tow Truck has struggled in one way or the other trying to figure out how to raise capital. There are many ways to fund your startup from self-funding to venture capital. Organizing the funding needed to start your business is among the most significant hurdles that every aspiring business owner must pass.

The business startup journey becomes very more difficult as aspiring business owners have to face the reality of being turned down for business loans. The good news about startup funding is that there are plenty of funding options for startups to turn to. Let us explore these options;

Friends and Family

Borrowing money from friends and family can be a classic way to start your business. It can be quite hard to convince banks or investors to believe in your business, but that is not always the case when it comes to friends and family. Friends and family can be very much willing to help in funding your company. If you are getting money in the form of a loan from them, you need to ensure that they get sound legal advice to put everything in order. The only downside of this method of funding is that it can be straightforward to lose friends if something doesn’t go as planned.

Bootstrapping your Business

startup fundTo succeed in your first business, you have to ensure that you get some saved up funds that you can easily access and put up in your business. With bootstrapping, you make use of your own funds to run your business. The money you use for bootstrapping may come from your personal savings, low-interest credit cards or your other lines of credit. The only major problem with bootstrapping is that if your business doesn’t succeed, you may be left with a substantially high amount of debt.

Small business loans

Some banks normally offer loans to small businesses. However, not that banks are historically very cautious offering loans to small companies, so it can be challenging to qualify. There are alternative lending or borrowing companies and institutions that you can equally use to get your business off the ground. The only downside of these lending institutions is that some can be very exploitative and predatory.


If you have an excellent business idea, and you are great with social media in getting people together, you can make use of crowdfunding. When crowdfunding, you can make use of sites such as Indiegogo and Kickstarter among other options. These sites can be an excellent source to help you pull funds together. The only downside with crowdfunding is that many companies are making use of this method, so you have to create much buzz on social media to stand out. Another technique you can use is an accelerator or an incubator. The good thing about incubators is the high level of mentorship involved.


Categories: Business

Most Safe Places to Keep Your Money

No Comments

savingNow that the stock market is not very certain due to sinking companies, the volatility of the economy, real estate bubble among other factors leading to fluctuation in the value of money, which are the best places to keep the money? You need to keep your money in a place that brings high returns. Such a place should be free from risk or have a very low risk.

If you’re looking to invest your hard-earned money, it can be overwhelming to decide where to put it. If you’re young, you are faced with a lot of challenges in determining where to invest your money and enjoy the profits for decades to come. When saving for retirement, stocks are the best option due to the high rate of return over an extended period. However, for short-term investments, where do you go?

If you are looking for the safest places to put your money, here are the top places you should consider.

Savings Account

Savings accounts are perhaps the most honest and most convenient place to put your money. These accounts are very liquid such that you can get money in or out whenever you want. The specific features defining a savings account include interest rates, account balances and the use of cards. In most cases, banks offer a meager interest that is not enough to keep up with the inflation which is mostly 0.06%. Some banks may let you open an account with as low as $1 which others require anywhere between $50 and $50,000 as minimum operating balance.

Money Markets

Just like savings accounts, money markets are safe and liquid accounts which allows you to store money up to a certain amount, mostly $250,000. A couple of aspects make money markets to be different from savings accounts. In money markets, the interest rate is a bit higher than a savings account. To operate these accounts, the minimum account balance can be anywhere between $1,000 and $25,000. There are a certain number of transactions you can make per month as per regulation.

Certificates of Deposits

A certificate of deposit refers to a fixed term loan that you make to your bank. With CDs, you agree with your bank to keep your money for a specified time, it could be six months, one year or three years, in exchange of an agreed-upon interest rate that is guaranteed when the certificate of interest matures. CDs are insured, and this means you can’t lose your money. The key downside of CDs is that it ties down your money for a specified period. Though it is possible to withdraw it before maturity, you will pay the price for that.

Low-Risk Investments

The downside of low-risk investments is that the interest rate is quite low. But all in all, you don’t want to put all your vital eggs in one basket. Some of the best low-risk investments include; treasury securities – which are loans that you give to the government including treasury bills, treasury notes, and treasury bonds. Treasury bills take weeks to a year to mature. Treasury notes are medium and may take 2 to 10 years to mature while treasury bond is long term and may take up to 30 years to mature with interests paid every six months.

Categories: Business

Ways to Get Investors for Your Business

No Comments

fundingWhen you have a viable business idea and you know the amount of funding needed to get you off the ground, the next step is to find investors. Finding investors can be intimidating and a scary route, but its the best path you can follow to achieve success. You have to understand that business plans do not generate business financing. Though there are many kinds of financing options that require a business plan, the truth is that nobody invests in a business plan. Investors need a business plan because it is a document that communicates information, ideas, and projections, but they invest in a company, its products, and people.

When you are in search for the right investor, here are some aspects you must get right.

Realistic Budget

Create a realistic budget that can help you gain traction. Investors see great companies as those with a proven traction and customer delivery. You will need to have a budget to get your first customers. Once you have reached a particular milestone, it’s time to look for investors. As a CEO of your company, you may dedicate up to six months pitching to the right investors. Have a budget on what it will cost you regarding traveling and other expenses.

Use Startup Launch Platforms

investorMany companies have now launched specific platforms that provide research, information, and assistance in all aspects of getting a business began including the best ways to connect with the right investors. These startup guide companies, otherwise known as incubators provide extraordinary opportunities to help many people get connected to the right investors.

Angel Investors

You can find angel investors who are willing to invest in your startup. These angel investors are not only willing to invest in your startup but are also ready to sit on your shoulder to offer you mentorship and a lot of solid advice. They also provide you access to their network of contacts. There are so many online platforms where you can find angel investors who can give you a lot of information on the different types of investments you might seek.


There are hundreds of crowdfunding websites and platforms that can help startups grow. These sites provide you access to different types of investors from the general public who are willing to take part in your startup to philanthropists who have an interest in helping others realize their dream. Each crowdfunding platform has their focus and a way of attracting investors. All you need to do is to study them keenly and see which the right one for you is.

Categories: Business