How To Develop A Secure Retirement Income
One of the rules of life is that, sooner or later, everyone has to stop working and retire. For some, this is a golden opportunity to enjoy life and do things they never got the chance to do while they were busy with working and raising a family. For others, however, retirement can be a very scary prospect, with no money coming in and yet some of the biggest expenses still needing to be taken care of. Even though work stops, the truth is that life (and your bills) doesn’t. Here are some ways to plan ahead and develop a secure source of income for when you retire.
The most important factor in planning out your retirement income is to plan ahead- the sooner you start to plan, the better. As soon as you reach that stage of life where you are receiving a secure income, you should begin to put money aside in order to draw off of when you retire. You can do this by diversifying your investments- small contributions to several areas will add up when you retire to provide you with a comfortable living- if you are very wise and frugal you may find that your retirement income is actually more than your regular working income was!
The best places to put this money are in areas where they will be able to accrue interest, especially of the compound variety. Some safe investments include mutual funds and saving bonds, in which an investor agrees to leave the money aside for a stated amount of time in order to earn the interest that will often be guaranteed. In some areas, it is also possible to invest in Registered Retirement Savings Plans (RRSPs) which will not only accrue interest until the time you retire, they are also usually tax deductible in the present.
You should also look for a job in which a regular contribution is made by both the company and by yourself to a pension plan. Ask your employer if it is possible to have some money deducted from each paycheck and deposited to a specific pension plan- many employers will meet the contributions made by the employee.
The most important thing when you are planning out your retirement income is to make sure that the money you invest for that purpose remains there. Many people lose their retirement nest egg in emergencies or even investing in opportunities that seem iron clad, but aren’t. When you make investments towards your retirement, do not touch them. Remember that this money will be all you have at that time in your life, and if you lose it you are going to be in for some hard times, with no chance at recuperation. Any risks as far as investments go should be undertaken with money that you budget for that purpose, and not with any of the money that you plan on setting aside for retirement purposes.
Prudence and long-term planning are the watchwords when you begin to develop your secure retirement income. Make a plan and stick to it, and your golden years will be the best time of your life.
Strategic Leadership – How Leadership Can Grow Your Business
We hope you find all that you wanted to know about leadership in the following page. Take all your time to utilize our resources to it’s best.
We hope to provide all the necessary information on leadership for you through this article. Use it wisely in all your projects.
Succession planning is very important to the long-term success of any company. Leadership transitions in business affect the entire organization’s continuity, employee retention, client retention and returns on investment. It is essential to create and implement a process that creates visibility, accountability and greater integration of all facets of the business.
We have written a humorous anecdote on leadership to make it’s reading more enjoyable and interesting to you. This way you learn there is a funny side to leadership too!
leadership came into being some time back. However, would you believe that there are some people who still don’t know what a leadership is?
The rapidly changing demographics in the workplace, especially the aging baby boomer segment, there is a real challenge to find talent for leadership roles. Companies that are able to respond pro actively with strategically developed and implemented effective leadership succession plans are in a superior position in the marketplace and global economies.
Your strategic thinking business coach offers the following list of recommended strategic actions to structure a leadership succession planning process.
Strategic Action #1: Begin the succession planning process early. A period of one to three years prior to the expected departure is optimal dependent upon the leadership position. The most strategic approach is to start the planning process as soon as the new leader takes charge.
Strategic Action #2: Clearly determine and communicate the purpose, goals, and extent of the leadership succession plan or program.
It is rather inviting to go on writing on leadership. however as there is a limitation to the number of words to be written, we have confined ourselves to this. However, do enjoy yourself reading it.
Strategic Action #3: Clearly define the desired and required qualities of the new leader. The qualities should be driven by the company’s strategic plan and its requirements.
Strategic Action #4: Develop a clearly focused leadership development strategy. This will enable potential candidates to acquire training for additional responsibility within the company.
Strategic Action #5: Develop a talent management process that will incorporate strategic thinking for specific development opportunities for future leaders. This may include mentoring and some form of coaching.
Strategic Action #6: Identify future leadership candidates by developing a system for assessing current and future leadership needs.
Get more familiar with leadership once you finish reading this article. Only then will you realize the importance of leadership in your day to day life.
?Strategic Action #7: Identify a system for communicating information to ensure that the leadership succession and/or development programs are in line with strategic business needs.
Your strategic thinking business coach encourages you to use strategic thinking in the development of leadership succession plans. If you would like to learn more about how to develop a strategic succession plan and how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole through his website at http://www.businesscoach4u.com or by email at firstname.lastname@example.org
Glenn Ebersole, Jr. is a multi-faceted professional, who is recognized as a visionary, guide and facilitator in the fields of business coaching, marketing, public relations, management, strategic planning and engineering. Glenn is the Founder and Chief Executive of two Lancaster, PA based consulting practices: The Renaissance Group, a creative marketing, public relations, strategic planning and business development consulting firm and J. G. Ebersole Associates, an independent professional engineering, marketing, and management consulting firm. He is a Certified Facilitator and serves as a business coach and a strategic planning facilitator and consultant to a diverse list of clients. Glenn is also the author of a monthly newsletter, “Glenn’s Guiding Lines – Thoughts From Your Strategic Thinking Business Coach” and has published more than 250 articles on business.
In conclusion, I feel this article on leadership will get its worth once people like you feel that you have benefited from reading this. Best of luck!
Managing Information To Support Strategic Planning
Establishing An Information Management Policy, by: acknowledging the importance of information to the strategic planning process and to the operational performance of the organisation; implementing an information management policy that will ensure a continuous flow of appropriate information to all levels of the organisation; allocating responsibility for the maintenance and improvement of the policy to an executive level manager; allocating level-specific responsibilities for the maintenance of the information flow.
Implementing an information management policy that is robust and rigorous is essential, not only at the strategic, corporate levels, but operationally as well. In the case of strategic planning, the quality of the information gathered, the channels used to distribute that information laterally and vertically throughout the organisation, and the interpretation of the information gathered, is vital. Without a sound foundation, the policy and its procedures, the information that is fed into the strategic planning process will be flawed, in parts at least. This will, inevitably, be damaging to the chances of the chosen strategies being successful.
Identify Information Needs, by: discussing information needs with the strategic planning team; using scenario building techniques to identify potentially differing information needs; identifying information needs of partners and key stakeholders who will be involved in the planning process; forecasting information needs for the strategic planning process; forecasting post-implementation information needs; reviewing existing information, channels and flows and identifying gaps and inadequacies; drawing up a list of information needs. This is another crucial early stage in the use of information in the strategic planning process. The leader(s) and other members of the planning team must be clear about their information needs. Whilst at this stage it is not possible to identify all the specific details, it is essential to draw up a list of categories of information that will lead to sufficient information being gathered. For example, one of the categories will be information on forecast changes in the external environment, another will be information on current and predicted competitor behaviour, another may be information on potential manpower resources, and so on. For public sector organisations one of the categories will be predicted government actions, such as in the setting of financial targets or other performance indicators. The role of the planning team is to ensure that their needs are understood and satisfied.
Establish Effective Gathering Methods, by: evaluating methods of information gathering currently used in the organisation; evaluating methods of information gathering not currently used in the organisation; selecting an appropriate range of methods for use in the strategic planning process; selecting individuals and teams to carry out the information gathering activities; providing training, financial and physical resources, to support the information gathering activity; implementing a monitoring and control procedure to ensure the process continues to be productive. There is a range of well established methods used internally by organisations, and well established commercial companies, that will provide the required information. In both cases, the methods used in gathering information must be appropriate and effective, in terms of being cost-effective and in terms of the quality of information gathered. In addition, particularly in the case of the commercial providers, the methods should be ethically sound. Whilst information gathered through unethical methods may not directly damage the strategic planning process, damage may well be caused to the reputation of the receiving organisation, and this may well then damage the chances of the strategies being successful. Obtain Required Information, by: obtaining primary and secondary objective information from internal sources and external providers; obtaining subjective information from analytical techniques such as PEST and SWOT analysis; obtaining subjective information from Competitor Analysis techniques.
Validating Information Obtained, by: vetting the quality of all sources and providers of information; testing the validity of information received; replacing unsafe information or at least acknowledging the weaknesses in it and highlighting this when it is used in the planning process. It is critical that the information used in the strategic planning process is valid. Plans based, even in part, on inaccurate, invalid, or in any way inappropriate, information, are inherently flawed and will almost certainly fail in part or totally. Internal sources of information, and the process of gathering that information, must be rigorously checked on a regular basis. External providers of information, such as commercial companies that carry out surveys or other information gathering activities, must be treated in the same way as other suppliers, in that they must be vetted for appropriate expertise and experience, for their operational quality levels, for financial standing, as well as for their ability to understand and interpret the needs of the purchasing organisation. Regarding the analytical techniques used, there are a huge range of tools and techniques that can be used to analyse information. The techniques mentioned above are named because they are common ones, familiar to most senior managers. There are many other proven methods, and these should be evaluated and used where appropriate. It is however, important to be aware that the quality of the output, the findings, from these analytical techniques are dependent on the skills of those using them and the interpretation, the conclusions, made by the analysers, and then by the end users.
Apply Outcomes To Strategic Planning Process, by: interpreting and applying the findings to the deliberations and decision making activity; regularly reviewing the validity of information and interpretations used, during the process; refreshing the information and interpretations as necessary. Using the information in the decision making activity, in building up the strategic plan, must be seen as a continuous process and one that must be monitored and controlled. If, for example, information is gathered and interpreted at the start of the planning process, and is only applied at a later stage (some annual strategic planning processes can last for many months) then the validity, the currency, of that information and its interpretation, must be challenged and if necessary discarded and replaced.
Review Effectiveness Of Process, by: carrying out regular audits on the effectiveness of the methods, tools and techniques, used in the information gathering process; carrying out regular audits on the relevance, accuracy, and value of information used in the planning process; regularly reviewing the value of the information inputs as part of the strategic planning review sessions; taking corrective action where necessary. The whole information gathering process must be reviewed on a regular basis. Ideally this should be an agenda item on all the scheduled strategic level team meetings. An additional review should take place before each distinct strategic planning process starts. In addition, the Information Management Policy itself must be reviewed and refreshed annually. To rely on outdated, inappropriate, invalid, information gathering processes would be highly damaging to the chances of future success.
Establish Future Information Needs, by: implementing a continuous development approach to information gathering, whereby the information needs of the organisation, at strategic and operational levels are continuously assessed and action instigated to satisfy those needs. In today’s fast changing world of business the strategic planning process is one that is repeated at least annually, often more frequently to the point where for many organisations it is now a continuous process. Satisfying future information needs cannot be carried out as a discrete pre-planning activity. Information gathering must be continuous, and therefore future information needs must be identified on a regular basis, and these needs must then be satisfied by the information gatherers. In this way the planners have access to the necessary information as and when they need it.
In Summary: High quality information is critical to the success of the strategic plans of any organisation. All other factors can be in place, but if the information is flawed in any way, then success is much less likely. If success is achieved it may well be at a high cost. High quality information must be acknowledged as one of the organisation’s top priorities. Adopting a continuous development and improvement approach to the information gathering and interpretation process is essential. A complimentary approach that should be implemented in parallel with this is that of Knowledge Management. This relatively new approach is in response to the recognition of the increasing importance of identifying and gathering the internally generated information and the accumulated knowledge held within the organisation, and making effective use of these. The leader(s) of the strategic planning activity should combine the established principles of continuous development and improvement with the techniques of knowledge management, and build this into the strategies of the organisation. In this way the organisation is generating a continuous flow of high quality information, and making the most effective use of that information to support its chosen strategies.
Free Accounting Software
Is there such a thing as ‘totally free’ nowadays? Life is getting harder and harder every year. A great number of people are starving in different areas of the world. It’s quite unbelievable that you can still find ‘free’ things today but if you try to surf the internet, you will notice a lot of ads that say ‘free’ this and ‘free’ that.
Accounting is an essential part of the lives of people as well as businesses. Through accounting, an individual or business can keep track of all its financial transactions. If you’re a professional, it only means that you earning income. Your income will be used to finance all your expenditures like food, water, electricity, and many others. If you keep track of these things, it can already be called accounting.
In businesses, financial transactions can get complicated and it will be impossible for one individual to handle the task. This is where the accounting software comes in. did you know that there are free accounting software online? That’s true and if ou only take time in surfing the internet, you can find this free software.
Don’t expect too much from a free accounting software. Since it is free, it can’t offer the same features and functions as that of a high-end accounting software. This free software is simple and easy. It can only handle the accounting needs of homeowners and small businesses. The software focuses mainly on simple accounting management. By taking advantage of the free software, you can already perform the basic accounting tasks that paid software’s do.
The question now is whether you should get free accounting software or not. It’s only a download away but before anything else, there are some things that you need to look for in accounting software; consider the following tips.
Large companies who want to promote products and marketing campaigns are now providing the public with free accounting software. You have to surf the internet diligently so that you can immediately take advantage of it.
You can find a lot of free things online but you should be warned about scams. There are dishonest websites that tell surfers they offer free accounting software that are downloadable. The site will ask you to provide personal information on their registration forms and then ask for the number of your credit card. Legitimate websites that offer free accounting software will not request for any personal information.
While you’re surfing the internet, why don’t you search for trial versions? By taking advantage of trial versions, you can evaluate if the certain software meets all your accounting needs. After the trial version, you can now decide whether you will subscribe the software or not. Trying out trial versions does not involve any commitment. If you don’t like the software, discard it and then look for another trial version.
If you follow the tips mentioned above, you can now have a free accounting software that you can use personally and even for your small business. Some manufacturers offer different functionalities that are added to your existing downloadable accounting software.
By taking time to surf the internet, you can find intuitive, robust, and practical accounting software. Most free software can be downloaded without any complications. If you want to practical, take advantage of this free software. Try them now and handle all your finances efficiently.
Non-Profit Strategic Planning
It is important to mention that it is the size of the organization matters more than for-profit or non-profit status in determining the objectives, steps and activities in the Strategic Planning process. Small non-profit and for-profit organizations have a similar manner of conducting business and planning activities that are different from larger non-profit and for-profit organizations.
However, there are certain characteristic distinctions between non-profit and for-profit organizations in relation to focus of the planning activities. Unlike for-profits, which tend to focus primarily on profit-maximizing activities, the non-profit organizations generally are more focused on matters of board development, fundraising and volunteer management. Hence, Non-Profit Strategic Planning concerns keeping in mind the interests of the board, its development and the well-being of its units. It is also aimed at laying stress on raising funds, while the other aspects of planning take a backseat.
New non-profit organizations need to take down strategic plans on paper and create a formal plan, including all the number of considerations a starter non-profit organization needs to take care of.
In case of old or pre-existing non-profit organizations, Strategic Planning requires preparing a long-term map delineating the sequence of activities over several years, from where one is today to where one aims to be in the future. Usually, a period of 3 to 5 years is covered by a strategic plan. The following are to be presented in the plan:
•Mission statement of organization, stating the reason for its inception and activities.
•Vision statement throwing light on what the organization is hoping to become.
•Values to be adhered to by the organization in the conduct of its activities.
•Assessment and description of the needs to be fulfilled by the non-profit organization.
•The organization’s immediate goals.
•An assessment of the organization’s present status.
•Strategies adopted to meet the goals and objectives.
Details Of Top Accounting Software For Your Business
A book-keeping software application data in addition to similarly makes improvements the book-keeping deals of an option within its useful aspects. Financial declarations being composed of the security profits, loss in addition to furthermore sheet account, along with declaration of modifications in monetary arrangement can be conveniently prepared with an accountancy software program application.
A book-keeping software application is whatever worrying the different valuable components that it has. A few of them are- General journal which looks after the firm’s monetary ventures; Accounts Payable where the firm enters its expenditures along with pays the cash money it owes; Accounts Receivable where cash acquired is gotten in.
The various groups or sort of accountancy software application are as follow:
a) Small business/personal book-keeping software application which are usually recommended for residence individuals. They are cost-effective along with easy with essential running such as monitoring of budget methods.
b) Low end audit software program application are for little strong markets that can supplying a single throughout the nation market. Such software application are defined by ‘single get to’ items.
c) Mid market book-keeping software application are for business with considerable business. These software application can utilizing the demands of different throughout the nation book-keeping criteria along with help with audit in different money.
d) High end audit software application are similarly intricate in addition to pricey company bookkeeping software application that are additionally called Enterprise Resource Planning or ERP software program application.
You require to maintain certain consider mind prior to getting a book-keeping software program application, like the rates of the software program application, its various functions, its after-sales aid together with alike. The majority of the book-keeping software application include all the vital audit components.
There are a big quantity of leading audit software program application comfortably used in every group. It is not truly easy to choose the finest ones. Below are leading 5 book-keeping software program application in every group.
A. Small business/personal book-keeping software program application:
1. ePeachtree (Best Software).
2. MYOB Plus for Windows (MYOB Software).
3. Peachtree Complete Accounting (Best Software).
4. QuickBooks Online (Intuit).
5. Little Company Manager (Microsoft).
B. Low-End Accounting Software:.
1. BusinessVision 32 (Best Software).
2. MAS 90 & & & & MAS 200 (Best Software).
3. QuickBooks Pro 2003 (Intuit).
4. ACCPAC Pro Series (ACCPAC International).
5. Vision Point 2000 (Best Software).
C. Middle-Market Accounting Software:.
1. ACCPAC Advantage Series Corporate Edition (Best Software).
2. Great Plains (Microsoft) MAS 90 & & & & MAS 200 (Best Software).
3. Navision (Microsoft).
4. SouthWare Excellence Series (SouthWare).
5. SYSPRO (SysproUSA).
D. High-end book-keeping ERP Market:.
1. Axapta (Microsoft Software).
2. e-Business Suite (Oracle).
3. MAS 500 (Best Software).
4. Solomon (Microsoft).
5. ACCPAC Advantage Series Enterprise Edition (Best Software).
In developing the above listing, a collection of elements such as comments from consumers, scalability of the software application application, along with furthermore after-sales assistance are made use of. The various qualities for various groups have actually in truth been thought about like for ERP software application application, web links such as producing selection, supply chain remedy along with similarly details source option. The above collection might not be all outlined along with similarly some individuals can choose to vary with it yet it is nearly close to finest listing.
You need to maintain information consider mind before acquiring a book-keeping software application application, like the costs of the software application application, its various top qualities, its after-sales sustain along with alike. Below are leading 5 book-keeping software program application program in every group.
Below are leading 5 book-keeping software program application program in every group.
You have to maintain information elements in mind prior to acquiring a book-keeping software application program application, like the rates of the software application program application, its countless high qualities, its after-sales help as well as alike. Below are leading 5 book-keeping software program application program in every group.
In producing the above checklist, a collection of elements such as responses from consumers, scalability of the software application program application, as well as furthermore after-sales assistance are utilized. The various qualities for various groups have actually in truth been taken right into account like for ERP software application program application, web links such as producing option, supply chain service as well as furthermore details source selection. The various attributes for various groups have actually in truth been taken right into element to think about like for ERP software application program application, affixes such as developing selection, supply chain service as well as in addition details source selection. You have to maintain information variables in mind prior to getting a book-keeping software application program application, like the costs of the software application program application, its various high qualities, its after-sales help as well as alike. Below are leading 5 book-keeping software program application program in every classification.