8 Technologies Modern Businesses Can't Live Without

As a business owner, if you're not syncing your operations with new technologies for efficiency, security, and productivity, you're falling way behind. It already took a long time for businesses to get up and running from typewriters to computers, and from physical files to digital. But as technologies keep coming out, keeping your finger on the pulse is essential. Here are 8 technologies that will take your business to the next level.

1. HD Video Conferencing

Conference calls are so passé. We all struggle to take our turns, get clear reception, and follow the conversation as more and more people are added to the line. Not being able to see our collaborators is a detriment to productivity. That's why modern businesses are using video conferencing as a way to get that much-needed face time. If you're going to go all out for video conferencing, you might as well get it in HD.

2. Team Messaging

In the old days, if we had a question for one of our coworkers, we had to get up from our seats, walk over, interrupt them on whatever they were doing, and ask our question. Now, businesses are integrating methods of easy online communication a la the AIM of our youth, but all grown up. Slack is one of the leaders in the team messaging field, for its accessible layout and the ability to send and share documents with ease.

3. BYOD and Mobile Solutions

Gone are the days of landline phones! To enable the "work from home" movement, some employers are gung ho about the "bring your own device" policy. It saves money and space. Being mobile-friendly encourages your employees to use their phones. But careful, this could make goofing off look a lot like working. It does however, encourage working before and after business hours.

4. GTD® Software Utilities

For those of you that don't like acronyms, you should start to like them if you're going to have a modern business. GTD® stands for "get things done," and these special software utilities are designed to do just that. These include digital list managers, productivity add-ons, organizers, and note-taking and brainstorming tools to help increase efficiency at the office. Check out more, here.

5. The Cloud

Servers are an unnecessary space-killer in an office. Working on the cloud gives you the ease and convenience of sharing documents on a network (the Internet). Google Drive and Dropbox are two of some of the more popular cloud-based file storing services. Google Drive allows you to comment on documents and share folders so everyone can always be on the same page.

6. Digital Signature

Snail mail is a thing of the past. Now, contracts are being sent as PDFs. Instead of printing, signing, scanning and sending, businesses are using digital signatures to get the job done faster, and with a lot less paper. Here's how to employ the digital signature function on Adobe Reader.

7. CRM

Another acronym, folks. CRM stands for "customer relationship management" and is a valuable tool to track, manage and analyze customer behavior data to inform you on future strategy. This technology can be a useful way to improve a customer's perception of your business. But there are tons of CRM systems out there. Here is a guide from CRM Magazine on how to know what's right for your business.

8. Smart Payment Processing

If you're still mailing out invoices and receiving checks, you're missing out. All-encompassing payment processing solutions like PayPal for small business are out to help your business run smoother. This service allows you to accept diverse payment options, be eligible for credit, and get paid faster and more securely.

Technology is booming at an unprecedented rate. Is your business prepared to keep up?

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Major Life Purchases That You Should Plan for

As the years go by, you'll likely need to make some large purchases here and there. Plan for these major life purchases by identifying them and saving early.

While it's possible to be frugal with many aspects of your lifestyle, there are certain events and possessions that will require you to spend a substantial amount of money. Thus, a wise course of action is to begin saving well ahead of time while thinking about your goals for the future. This way, you'll be able to maintain a stable financial state even when faced with those large expenses. The following are a few major life purchases that you should plan for.

A Wedding

Marriage is a joyous occasion that many people look forward to. However, a wedding can be quite expensive, often costing thousands of dollars. Your family and your future spouse's family will often contribute to covering this, but you should still prepare to spend a good deal of your own money on the ceremony. If you're in a serious relationship and are considering marriage, you should plan where the funds for the wedding will come from and take the necessary actions to accumulate them. It's also crucial to discuss financial matters with your partner, since your property will merge once you get married.

A New Car

Automobiles remain one of the top modes of transportation. As a result, you may want to purchase a new car at some point in your life. Although you may be fine with an old or used vehicle at present, you may one day be motivated by a desire to acquire something nice for yourself or by the practical needs that arise as you raise children. Whatever the case, obtaining a new car is a major life purchase that you should plan for.

In addition to setting aside funds to eventually put towards a vehicle, you should also aim to build you credit score. This is because your credit score will determine your available car loan options. The higher your credit score, the more you may be able to lower your interest rates on your car.

A House

Owning your own residential property is a worthy objective that you may hope to make a reality one day. Ideally, you should save about 20 percent of the total cost of a house before you buy it. This will allow you to make a larger down payment and thereafter face less interest on your mortgage.

As with acquiring a car, the mortgage options that you'll have can change based on how strong your credit score is. You'll want to increase your score as much as possible in the years leading up to buying a house so that you can get more favorable interest rates. In addition to contemplating down payments and mortgages, you must also remember that you'll need to deal with property taxes, insurance, maintenance and repair fees, and sometimes homeowners' association charges.

It's also necessary to hire a real estate agent to help you with the buying process. There are different types of real estate professionals. You should know how to distinguish between buyer's agents and seller's agents so that you can obtain favorable prices on homes as well.

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Tips to Manage Money Together as Newlyweds

When you are newly hitched and learning how to combine your essential legal and financial information as well as your accounts, it can be confusing.

Many people live together before getting married and have begun the process of combining accounts and sharing responsibilities. However, some people wait to do this only after marriage, and others wait until they're married to live together. Whichever path you've chosen, it's still crucial to know a few tips to manage money together as newlyweds to determine where you should begin and how you can remain on the same page.

Discussing Money Motivations

As we begin to share money with our significant other, we soon find out what one person may rank as a priority regarding money and the other may not. As such, sitting down and discussing money motivations is important. Two people who cannot agree on how to handle money may cause serious issues. This should include:

  • How to deal with money following payday. Is a percentage put into savings? Is that the day to splurge on dinner, drinks, and more?
  • The frequency and size of payments made to debts. Some people like to pay minimums, whereas others pay in full or make double payments.
  • What do you each consider money well spent? Is it a new 70" 4K television? Is it an investment? Is it paying as much debt off as possible?
  • How do you go about consulting each other before making purchases over a certain amount?

Establishing Financial Goals

After you evaluate the motivations behind your money and how it should be spent, you'll need to spend time together hashing out financial goals. As newlyweds, there are certain things on your list that you're going to want to save for. How do you go about that? How much of each paycheck will you dedicate to a particular fund?

Some things in the future worth making a financial plan for include savings and paying down debts. This is the time to be honest about your current financial standing. If you're looking to buy a home, you'll want to assemble a first-time homeowner financial checklist to begin to develop topics of conversation. Some of the things to consider setting goals for are:

  • Student loans
  • Car loans
  • Future children
  • A house
  • Medical bills
  • Delinquencies on credit reports
  • Vacation and rainy-day funds
  • Emergency funds

Budgeting Together

The more honest and open you can be with each other about the money you have and now the debts you share, the better. Implementing plans for the best ways to have the things that you both desire while still taking care of existing demands is important. These can be uncomfortable things to talk about; however, these conversations are necessary.

Following these tips to manage money together as newlyweds will allow you to have a starting point for conversations that can be tough to start. The sooner you and your partner get on the same page with finances and the responsibilities that come with them, the easier the transition will be and the sooner you'll find success.

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Potential Sources of Passive Income for You

It's the dream: money you can count on to keep rolling in, even while you sleep.

Passive income isn't entirely passive, of course. You'll put in work up-front to get the profits rolling, so don't relax in your recliner just yet. But with so many potential sources of passive income available to you, picking one or several will mean that the day you can finally kick back will draw steadily closer.

Rental Properties

Real estate is a tried-and-true wealth builder for a simple reason: people will always need somewhere to live. Research the market in a growing community until you know a good deal when you see it. You can maximize rent by fixing up a deteriorating property or upgrading a mediocre one. The key is to hire a property manager to do all the day-to-day landlord duties for you—and you'll need a good one. Smart investors put their profits in another property and repeat the process until they have a diverse portfolio.

A YouTube Channel

You can start a blog if you're more comfortable hiding behind a computer, but consumers are more likely to prefer video content. Post a series of “how-to" videos to answer questions about whatever you're an expert in.

You can put up any content you want, but if you don't want to commit to regularly updating it, focus on “evergreen" topics that will draw clicks for eternity. Ads will create your income, especially if your channel grows in popularity. Better yet, sign up for affiliate marketing. If you recommend a product and provide a link to buy it, you'll get a small percentage of those transactions.

Auto Advertising

If you don't mind vinyl-wrapping your car with an ad for a company, you can get cash just driving around and running your errands. Make sure you contact a reputable company that doesn't ask for any money from you; if they're the real deal, they'll evaluate your car, your driving habits, your area, and more. Bonus: the brighter the ad, the easier it'll be to find your vehicle in the parking lot.

Digital Products

What's something that people will pay for but doesn't require shipping on your part? Finding that item is what can supplement your income indefinitely. Write an e-book, charge for your cross-stitching patterns, design prints that people can digitally download, invent an app, record a “masterclass," or whatever else you want. Every time someone new discovers it, the cash register rings. With a little more effort, this is a potential source of passive income for you that can continue to grow. Once you build up a customer base, they might want more products. The good part is that it's up to you whether you wish to give it to them.

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