Business
Increase Your Income Streams with These Three Remote Business Ideas
Nowadays, it’s not enough to rely on a single stream of income; you need multiple ones to have financial freedom. Here are three accounting business ideas you can look into.
You might think you already have it all—a great house, a well-paying job, and a lifestyle you can afford. There’s nothing more that you could want because you’re earning enough for your present needs, but the future is murky, and everything is uncertain. It could bode well for you to prepare for the unforeseeable.
A great way to tame your fear of the unknown is by ensuring that you can have financial freedom no matter what comes your way. For this, it might not be enough to rely on your full-time employment alone, especially considering that the prices of market commodities are only getting higher by the minute.
To have financial stability and freedom in the future, you can increase your income streams. This means that you’ll have other sources of income aside from your full-time job, which can be freelance jobs, part-time work, or even a side business that can still showcase your talents.
If you prefer to hold your own time and earn while practicing your technical skills, you can open a small business in line with your career path. To get you started, here are three small business ideas that any qualified accountant can establish:
1. Tax Preparation
As a professional accountant, you already have the upper hand over almost half of the world combined because you enjoy doing taxes. This can be a great side business for you, especially if you have a background in tax management because then, you could be of help to many entrepreneurs and individuals.
To make it even more convenient for you to conduct your business, you can look for the best online professional tax software so that you won’t have to be hassled in filing paperwork or seeking real-time updates. Most software solutions also come with a built-in automatic data backup feature, which means you won’t have to worry about losing all your hard work.
And because using the software can increase your turnaround time for tax preparation, you can accommodate more clients in the process. This means that you can maximize your earning potential without worrying about the other obstacles that often come with running your own business.
2. Financial Consulting
Unlike most people, you deal with numbers and money almost every single day, which means you probably have enough expertise in the field to give credible advice to others about money management. You can use your acquired knowledge and experience to start a financial consulting business.
It could be wise if you sought out more formal training in a specific niche, but with your wits and know-how alone, you can already advise individuals in need about how they can invest, save, or use their money better. However, gaining additional training might help boost your credibility as well.
Specializing in a niche market is unnecessary, but it can help create your reputation as a financial consultant. This is because if you were to focus on a specific field of interest first, then you can present yourself as an authority in that niche rather than a jack of all trades. But of course, this will still depend on what goals you want to achieve.
3. Notary Public
Lastly, if you’re looking to increase your income streams with a passive side business, you might do well with starting a notary public service. This is because you’re already a trusted and licensed financial expert in your field. If you were to receive formal training to get certified as an official notary, the business would soon follow.
Unlike the other two business ventures mentioned above, opening a notary public service can be more beneficial for you if you prefer a more passive approach to earning money. Once you have enough clients for your business, you can just set a fee for authorizing legal documents and other services.
The signature of a licensed notary is still a requirement on many legal and professional documents, which means this business can be very profitable if you put your mind to it. But of course, nobody needs their documents notarized every day, which means this may not be enough to provide for you as a standalone income source.
There are various other possibilities for expanding your skill sets and growing professionally without sacrificing your full-time job. By exploring your options for additional income sources, you will not only be finding ways to earn more for your future, but you’re also taking the time to hone your personal growth.
Business
Transforming Goals into Actionable Results
Organizations universally set goals and strategic plans each year, aiming to grow revenue, increase efficiency, or launch innovative offerings. Leadership teams devote extensive energy to developing future visions, five-year horizons, and stretched objectives to motivate their workforce.
But the hard truth remains: lofty ambitions alone rarely catalyze actual change. For transformational plans to spark tangible impacts, organizations must bridge the gap between theoretical strategy and on-the-ground execution.
Table of Contents
1. The Planning Disconnect
Many goal-setting approaches prioritize inspiration over implementation. Leadership defines desires for the future: – become a $1 billion revenue company, penetrate emerging markets, and transform customer experiences through AI. Such ‘aim-big’ mindsets spark energy and provide directional guidance amid uncertainty.
However, most planning exercises fail to detail the nitty-gritty work required to achieve audacious results on the ground. People walk out of annual meetings jazzed about the future but without playbooks for activating it day-to-day. Vague aspirations then struggle to be converted into economic value.
2. Finding the Right Strategy
An OKR planning template offers one methodology to overcome this strategy/execution divide. OKRs, or Objectives and Key Results, provide a template to cascade high-level goals into measurable, actionable metrics at every organizational level. This connects future milestones with present-moment decision-making, ensuring teams work synergistically towards overarching ambitions. With a strong goal architecture in place, inspiration more seamlessly fuels activation.
3. Why Actionability Matters
Transforming lofty aspirations into step-by-step execution plans brings several advantages:
- Alignment: With clear OKRs spanning functions, teams can coordinate priorities, resources, and timelines effectively. This fosters organization-wide momentum versus siloed efforts.
- Motivation:Breaking ambitious objectives into bite-sized key results is less daunting for individuals. Granular metrics maintain motivation amid long horizons.
- Focus: Concrete next steps prevent distraction from organizational shiny objects that capture attention yet deliver little value.
- Accountability: Quantifiable measures allow all stakeholders, from frontline individuals to CEOs, to track progress and course-correct in real-time if lagging.
With a strong goal architecture in place, inspiration more seamlessly fuels activation. But we still must apply rigorous execution principles—communication, tracking, agility, and celebration—to generate the hoped-for results.
4. Driving Change in Complex Systems
Large enterprises are multifaceted systems, with interdependent elements spanning processes, technology, and people. This complexity makes driving macro-level outcomes uniquely challenging. As legendary management thinker Peter Drucker noted, “There is nothing so useless as doing efficiently that which should not be done at all.”
Turning broad organizational change into economic returns requires carefully targeting the vital few interventions that catalyze outsized results. OKRs help leaders thoughtfully assess and sequence the projects that will structurally reinvent operations, remove friction from value chains, and upgrade talent capabilities over time. With clear transformations roadmaps in place, big goals become more grounded amid real-world constraints.
5. Sustaining the Journey
Finally, cascading OKRs across the hierarchy sustains strategic focus as leaders come and go. They provide continuity through inevitable ebbs and flows in the volatile, uncertain business climate. With institutionalized processes for regularly resetting, communicating, and reviewing objectives and key results, organizations stay centered on the handful of big bets that matter most while retaining the flexibility to evolve tactics as needed.
Annual goal setting is table stakes for contemporary organizations. But without concerted efforts to turn those goals into measurable action plans, little changes amid organizational complexity.
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