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As midterms approach, Capitol Hill lawmakers push banking reforms for legal cannabis

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Richard Meier
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As midterms approach, Capitol Hill lawmakers push banking reforms for legal cannabis

WASHINGTON — Retailers, industry activists and U.S.

WASHINGTON — Retailers, industry activists and U.S. lawmakers are making one last push to ease federal financing restrictions on America’s burgeoning cannabis industry before midterm elections that could reshape the political landscape on Capitol Hill.

Members of the National Cannabis Industry Association just wrapped up two days of lobbying on behalf of the SAFE Banking Act, legislation that would provide cannabis companies long-sought access to federally regulated financial services. 

Without it, firms operating legally in nearly every state in the union will have to continue operating on a cash-only basis, a recipe for money laundering, tax fraud, assault and robbery, said Oregon Democrat Sen. Jeff Merkley. 

“Why would you have this cash economy and not enable these legitimate businesses under the state laws spread all across our country to operate within the banking system?” Merkley, a co-sponsor of the bill, asked at a news conference. 

“This is not what we Americans want. We want a safe environment, we want a regulated environment and we want certainly to bring this industry into the modern age.”

Merkley told the story of how he and fellow Oregon Democrat Rep. Earl Blumenauer had to help a cannabis executive from their state pay his company’s quarterly tax instalment, which he did with a backpack stuffed with $70,000 in cash. 

“This is just an absurdity,” he said. “You’d read this in some novel or some movie about a strange dystopian society, not a modern economy where medicinal and recreational cannabis are very important elements.”

Merkley was joined at Wednesday’s news conference by Rep. Ed Perlmutter, a fellow Democrat from Colorado, which joined Washington as the first states to legalize recreational pot in 2012.   

Back then, “We had what I called the chuckle factor — ‘Oh, you’re from Colorado, you’re a mile high,'” Perlmutter said. 

Since then, though, the world has come to understand the increasingly high stakes in a multibillion-dollar industry that’s expected to grow significantly in coming years. Estimates vary, but Perlmutter said it’s going to be a US$25-billion business this year, and could grow to $47 billion by 2026. 

And he had his own story about boatloads of bills: a friend who sold a building to a local cannabis dispensary in Colorado for $1.7 million — in cash.

“How much does a million dollars in $100 bills weigh? Seventeen pounds,” Perlmutter said.  

“It obviously is a public safety issue, it is a tax issue, it is an issue of civil justice, so we can get this done. We will get this done.”

Canadian operators as well are keen to see the U.S. take cannabis reform seriously. 

Omar Khan, senior vice-president of corporate and public affairs for Calgary-based retailer High Tide Inc., was part of the delegation meeting with Senate and House officials from both sides of the political aisle. 

“Based on those discussions, I am cautiously optimistic that some form of SAFE could pass during the lame-duck session of Congress in November,” said Khan, whose company has operations in Canada, the U.S. and Europe. 

Khan said discussions are taking place about adding social equity components to the bill, acknowledging that cannabis prohibition has disproportionately affected people of colour in the U.S. 

He said he also advocated for allowing producers, so-called “plant-touching” operations, to be listed on U.S. securities exchanges — a step that would allow a Nasdaq-listed retailer like High Tide “to move into the brick-and-mortar retail space in the U.S.” without risking its listing. 

The SAFE Banking Act is just one of several pieces of legislation that have been introduced in Congress this year in an effort to light a fire under the long-standing push to eliminate federal roadblocks to legal cannabis. 

In April, the House of Representatives passed Rep. Jerry Nadler’s Marijuana Opportunity Reinvestment and Expungement Act, which would effectively remove cannabis from the U.S. list of controlled substances — the main reason companies so often run afoul of federal rules. 

It’s the second time the House has passed the bill, known as the MORE Act. Its prospects in the Senate, however, are decidedly less certain, to say nothing of what Congress might look like after November’s midterm elections.

Senate Majority Leader Chuck Schumer, meanwhile, currently the most powerful Democrat in the upper chamber, has already introduced a comprehensive decriminalization bill of his own: the Cannabis Administration and Opportunity Act.

Industry advocates, though they support the comprehensive approach, are putting their shoulders behind the SAFE Banking Act, a more incremental step but one with more bipartisan support in the current Congress than either the Nadler or Schumer bill.

The SAFE Banking Act currently has more than the 60 votes in the Senate that would be required to get it sent to the president’s desk, said Aaron Smith, the cannabis industry association’s chief executive. 

“We know right now, if SAFE were to come up, it would be a 65 to 70 vote,” Smith said. “NCIA is completely supportive of comprehensive reform … but we know the votes are there for SAFE, so our focus is on getting SAFE over the finish line.” 

This report by The Canadian Press was first published Sept. 15, 2022.

James McCarten, The Canadian Press



https://www.timescolonist.com/the-mix/as-midterms-approach-capitol-hill-lawmakers-push-banking-reforms-for-legal-cannabis-5824597

Urban Edge Properties Appoints Andrea Drazin as Chief Accounting Officer

By
Richard Meier
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0
Urban Edge Properties Appoints Andrea Drazin as Chief Accounting Officer

— Etan Bluman Appointed Senior Vice President, Finance and Investor Relations —

NEW YORK, September 20, 2022–(BUSINESS WIRE)–Urban Edge Properties (NYSE: UE) today announced Andrea Drazin has been named Chief Accounting Officer, effective October 14, 2022. Ms. Drazin will succeed Jennifer Holmes, who will step down to pursue a new opportunity as the Chief Financial Officer of a private residential developer.

Ms. Drazin, who joined Urban Edge in March 2015, currently serves as Vice President, Corporate Controller responsible for SEC reporting, corporate accounting and treasury management. Prior to joining Urban Edge in 2015, Ms. Drazin worked in the audit practice for five years at Deloitte & Touche LLP specializing in real estate.

The Company also announced that Etan Bluman has been promoted to Senior Vice President, Finance and Investor Relations. Mr. Bluman joined Urban Edge in 2017 as Tax Director and has worked in various capacities at the Company including asset management, transactional structuring and debt financings. Prior to joining Urban Edge, Mr. Bluman worked as a Tax Manager in the Real Estate Market Group at Ernst & Young.

“We wish to extend our sincere thanks to Jen for her many contributions to Urban Edge where she has played an instrumental role in our accounting and finance functions since 2015,” said Jeff Olson, Chairman and CEO. “We are pleased to have a strong successor in Andrea, who has been an invaluable contributor to Urban Edge in further enhancing our strong accounting systems and reporting practices. At the same time, we are pleased to expand Etan’s role given his experience driving a variety of complex transactions and asset management initiatives while overseeing the tax function. We know he will do an outstanding job overseeing our investor relations function as we continue to expand our outreach.”

ABOUT URBAN EDGE PROPERTIES

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 76 properties totaling 17.2 million square feet of gross leasable area.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220920006172/en/

Contacts

For additional information:
Mark Langer, EVP and
Chief Financial Officer
212-956-2556

https://finance.yahoo.com/news/urban-edge-properties-appoints-andrea-201600454.html

BrainsWay Announces Significant Private Insurance Coverage from Cigna Corporation for the Treatment of OCD Utilizing Deep TMS™

By
Richard Meier
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0
BrainsWay Announces Significant Private Insurance Coverage from Cigna Corporation for the Treatment of OCD Utilizing Deep TMS™

BrainsWay

Cigna® Issues Favorable Policy for Deep TMS to Address Medication-Resistant Obsessive-Compulsive Disorder

BURLINGTON, Mass. and JERUSALEM, Israel, Sept. 14, 2022 (GLOBE NEWSWIRE) — BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, today announced that Cigna Corporation has announced positive coverage applicable to Deep Transcranial Magnetic Stimulation (TMS) for the treatment of obsessive-compulsive disorder (OCD). Cigna, one of the largest major medical insurance company in the United States, provides commercial health coverage to about 17 million members in 13 states, has Medicare Advantage plans in 16 states, and participates in the Health Insurance Marketplace© online exchange. With this new policy, Cigna joins the ranks of Centene, Highmark, Health Care Services Corporation, Blue Cross Blue Shield, Tricare, and Palmetto GBA Medicare, resulting in over 86 million adults now having access to BrainsWay’s pioneering Deep TMS™ OCD treatment.

“The establishment of this positive coverage for OCD further facilitates BrainsWay’s ability to capitalize on its leadership role in advancing treatment of this debilitating condition,” said Christopher von Jako, PhD, President and Chief Executive Officer of BrainsWay. “More importantly, the continued reimbursement momentum for Deep TMS is resulting in increased access of our unique therapy that is critical to our mission of improving the health and transforming the lives of those suffering from disorders with limited treatment options.”

Cigna will be issuing an updated revision to its TMS medical coverage policy effective September 15, 2022 extending coverage to patients aged 18 and older diagnosed with OCD. Under the revised policy, an initial 30-36 TMS treatment session regimen will be classified as medically necessary after a failure of two or more medication trials and a trial of evidence-based psychotherapy without significant improvement in symptoms. Patients with 30% or greater improvement in their Yale-Brown Obsessive Compulsive Scale (Y-BOCS) maintained for at least two months would also be candidates for an additional regimen of 30-36 sessions.

“This achievement is a further acknowledgement of the substantial efforts contributed by the principal investigators in the pilot and pivotal trials of Deep TMS, the clinicians in the field today treating OCD patients, and BrainsWay’s partners dedicated to expanding access and awareness to this life-changing treatment,” said Aron Tendler, MD, Chief Medical Officer of BrainsWay. “OCD is a difficult to treat disease, and almost half of the patients with OCD are treatment-resistant. BrainsWay continues to be a trailblazer in the field, and remains the only TMS company to have demonstrated clinical efficacy in treating OCD through randomized, placebo-controlled data.”

BrainsWay’s patented H7 Coil is designed to penetrate deeper and broader structures of the brain associated with OCD. The Company’s Deep TMS system received De Novo clearance from the U.S. Food and Drug Administration (FDA) for the treatment of OCD in late 2018 and was launched for full market release in 2019. As of June 30, 2022, 368 OCD coils had been shipped as add-on helmets to accompany BrainsWay platform systems. Approximately 45% of all BrainsWay systems in the field have an H7 Coil.

“The economic burden on the U.S. healthcare system for OCD treatments is over $10.6 billion per year, and we are excited that Cigna’s medical and behavioral health leadership has recognized the value we can offer these patients,” said Scott Blackman, Director of Market Access at BrainsWay. “This positive coverage decision supplements the growing body of compelling clinical evidence supporting the treatment of OCD with our Deep TMS H7 Coil.”

About Obsessive-Compulsive Disorder
Obsessive-compulsive disorder (OCD) is a chronic and debilitating condition with a lifetime prevalence in the United States of 2.3%. Characterized by uncontrollable, reoccurring thoughts (obsessions) and behaviors (compulsions) that the sufferer feels compelled to repeat over and over, OCD is considered by the World Health Organization (WHO) to be one of the top 10 debilitating medical conditions associated with a decreased quality of life and loss of income. Due to the complexity and heterogeneity of the condition, coupled with the high percentage of patients that are drug-resistant, many patients suffering from OCD do not respond well to first line treatment options. The economic burden on the U.S. healthcare system for OCD treatments is estimated to be over $10.6 billion per year.

About BrainsWay
BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The Company is boldly advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology to improve health and transform lives. BrainsWay is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal clinical studies demonstrating clinically proven efficacy. Current indications include major depressive disorder (including reduction of anxiety symptoms, commonly referred to as anxious depression), obsessive-compulsive disorder, and smoking addiction. The Company is dedicated to leading through superior science and building on its unparalleled body of clinical evidence. Additional clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders are underway. Founded in 2003, with offices in Burlington, MA and Jerusalem, Israel, BrainsWay is committed to increasing global awareness of and broad access to Deep TMS. For the latest news and information about BrainsWay, please visit www.brainsway.com.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, historical results or conclusions from scientific research and clinical studies do not guarantee that future results would suggest similar conclusions or that historical results referred to herein would be interpreted similarly in light of additional research or otherwise. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inadequacy of financial resources to meet future capital requirements; changes in technology and market requirements; delays or obstacles in launching and/or successfully completing planned studies and clinical trials; failure to obtain approvals by regulatory agencies on the Company’s anticipated timeframe, or at all; inability to retain or attract key employees whose knowledge is essential to the development of Deep TMS products; unforeseen difficulties with Deep TMS products and processes, and/or inability to develop necessary enhancements; unexpected costs related to Deep TMS products; failure to obtain and maintain adequate protection of the Company’s intellectual property, including intellectual property licensed to the Company; the potential for product liability; changes in legislation and applicable rules and regulations; unfavorable market perception and acceptance of Deep TMS technology; inadequate or delays in reimbursement from third-party payers, including insurance companies and Medicare; inability to commercialize Deep TMS, including internationally, by the Company or through third-party distributors; product development by competitors; inability to timely develop and introduce new technologies, products and applications, which could cause the actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements.

Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission.

Contacts:

BrainsWay:
Scott Areglado
SVP and Chief Financial Officer
[email protected]

Investors:
Bob Yedid
LifeSci Advisors
646-597-6989
[email protected]

Media Contact:
Meghan Laska
(610) 212-0125
[email protected]

https://ca.sports.yahoo.com/news/brainsway-announces-significant-private-insurance-113000484.html

10 Steps to Develop Business Right Now

By
Richard Meier
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0
Business Developer

You want to start a business, I take it? You’re fortunate, then. Whether you want to establish a new business or grow an existing one, this article will be helpful to you. This is a step-by-step manual on how to launch, enhance, and grow a business while limiting your own loss. Please read this entire post carefully if you are just getting started. The later half of the post will be more helpful for individuals who currently have a business and want to enhance or expand it.

Every company begins with a concept. You’ll notice that I’ve placed more emphasis on a person’s mental qualities than their material or bodily characteristics throughout the text. Call me a romantic, but everything takes place in the imagination. It’s something that I frequently witness and encounter. When your mind is entirely focused, there is nothing you cannot accomplish. Let’s start.

 

Step 01: Find Your Passion

You need to identify your true passion before you can launch a business. You question, “Why is that important?” There is an easy solution. You really don’t want to commit to a line of employment that you despise. A brand-new business requires a lot of preparation and execution, but if you are passionate about it, these tasks won’t feel like work at all in comparison to a business you dislike. After all, whatever we do in life ultimately leads to happiness. Why not pick a career that you would enjoy while doing it?

“When your vacation becomes your vocation, you have succeeded in life”.

 

Step 02: How to Sell It

Now that you’ve discovered your passion, let’s work out how to use it to charge clients who require the type of service you can offer. Despite the fact that your hobby is the most absurd of all time, millions of people would be happy to hire you. In fact, the more bizarre and unusual your passion, the more likely you are to succeed because there isn’t a market for that kind of business yet. Additionally, it doesn’t imply that you shouldn’t pursue your interest if it is something typical or widespread.

If you truly love something, you will always find a way to do it differently from the others, and that in and of itself makes it the winner.

Let’s imagine that you have a deep love for automobiles. In an auto shop, an auto parts store, or a repair and modification business, your chances of success are higher. There are certainly plenty of them available, but if you truly love it, it will be unique. When clients drop off or pick up a car, your business might have a lovely waiting room where they can relax and have a complimentary beverage. You might also offer free stickers in exchange for fixing their breaks. You’ll understand that once you’re operating in the industry.

 

Step 03: The Planning

Create a presentation using your own ideas and write them down. Spend some time on it. Do not speed through this section. When a fresh thought strikes in the middle of the planning process, don’t be afraid to make a modification. Edit and alter until you are completely pleased and have a distinct mental image of your company. I can’t stress enough how crucial this is. You must be very certain and clear. If there are any unclear areas, step away, change your focus, and return to the planning table once your mind is clear. Later on, you’ll see how we’ll repeatedly use this step.

 You should keep in mind that I am not discussing the “Hows” in this instance. You aren’t considering how you will launch the firm at this time. That will follow. At this point, your attention is on the “Whats.” If you start worrying about the “Hows,” your strategy will go awry because you’ll start asking questions like, “How do I acquire the money?” and “How am I going to discover the perfect locati

on?” When you are certain of the “Whats,” the “Hows” will become evident..

 

Step 04: Visualize Your Success

Consider how your business will appear and feel when it is fully running and successful after you have a clear vision of it. The success must be able to be tasted. This is yet another crucial step. Why, do you ask? Your path to success will be obstructed by challenges. The image that will motivate you is this one. Additionally, if you ever need to motivate your team under adversity, it will assist keep them engaged. The leader must always be prepared with that image of accomplishment.

 

Step 05: The Needs

Business Development — Do You Get It Right? | by Dan Timsit | DataDrivenInvestor

 

You know exactly what your company will be and how successful you want it to be. You are now mentally prepared, so let’s move on to the physical. Three factors make up the business’s physical requirements: staff, infrastructure, and finances.

 

Infrastructure

You will need a location, an office, a storage place, and some furnishings if your business is local, like an auto repair shop. You will require a website or other computer-based tools if your firm is virtual. Anyhow, now that you have a clear vision (Step 3), you may make a list of the infrastructure requirements.

 

Personnel

You are the business if it is one that you can run entirely on your own. If not, help will be necessary for you. Find out how many people you’ll need, what their jobs should be, and what qualifications they should have using Step 3. You can also ask about among your friends, family, and acquaintances to see if anyone meets the requirements and would be willing to lend a hand at first. At this point, having a trustworthy friend or partner is quite beneficial. You have struck gold if you have a friend who almost completely agrees with your point of view. With a close friend by your side, things are much simpler.

 

Finance

Many people find this part to be just a little uncomfortable. Because of this, many brilliant ideas are never implemented. Many people would quit in this industry because they think there is no money there. If that’s how you feel, just keep in mind that brilliant ideas were the foundation of the financial sector. Their intent is to invest. What other way do you suppose the Empire State Building was constructed? One person didn’t invest his entire fortune in it. The concept was excellent, and it had the support of numerous financial institutions. In actuality, there are lots of business banks, lending organizations, and investors hunting for a fantastic idea to invest in.

Ideally, though, the business’s owner should have access to at least half of the startup money required. You can begin saving money if you have a job right now. If you already have the funds, get started right away. Use your Step 03 presentation to entice a wealthy relative, friend, or investor if you are in need of money.

The importance of a person’s mental health was touched on at the outset of this piece. Due to the importance of finances, I would like to go into further detail. Here, fear is your only real adversary. There is just one obstacle you need to go beyond, and you must do it no matter what. You must follow this road; I will give you a few pointers on how to achieve it.

First of all, feeling scared is normal. We are a result of it. Just keep that in mind “Fear is not a sign of courage. Dread is doing what you are frightened of despite your fear “. Or, put another way, FACE IT. We only regret the things we didn’t do or the chances we didn’t take at the end of our life, after all. What could possibly go wrong? We all pass away, and it is preferable to pass away swiftly while engaged in our passions than to have a lengthy, dull life while engaging in safe and pleasant activities.. 

Use Step 04 and have that taste of success, and get out there. Here are a few types of fear that you may have and how to overcome them:

 

Fear of Rejection

You will be turned down, yes. Do not take it personally and continue to the next person because not many people would get what you are attempting to accomplish. Be passionate and well-prepared before giving your presentation. Sincerity is valued by people. I for one would. Even if I didn’t understand the business, if I saw someone who was genuinely enthusiastic about a project, I would invest my own money in it. Why? It is advantageous to have your Step 01. Because he would not give up until he was successful.

 

Fear of Loss

There is always a chance of losing. You are not yet aware of all the traps because the company is new. Have confidence in your capacity to bounce back from failures and setbacks. You are the expert and the one who came up with the idea. There is no need to be concerned right now; when loss occurs, you will know what to do.

 

Fear of Embarrassment

Yes, there are people who are always willing to provide advice, especially when you are struggling. You’ll receive jeers and laughter. But wouldn’t that be sweeter if you came back victorious? How could you triumph if you had never lost? Prepare to accept the humiliation and defeat, apply Step 04 to go through them, and emerge victorious. People remember heroes, not common people.

I sincerely hope the advice on overcoming fear will be helpful. You should think about one thing after locating the capital supplier or providers. Find an investor who is prepared to wait the ideal amount of time—6 to 8 months—for the business to function correctly. There are some investors, banks, or lending organizations who would lend you the money but would require their interests or return on investment (ROI) fairly instantly. This is a blind move.. 

A shrewd investor understands that if the company isn’t fully operating when he starts to demand his money, neither the business nor he will succeed in recovering his investment. Choose someone who will wait as a result. In this manner, both the company and the investor are protected.

 

Step 06: Start

Find your team, your location, and move on. Divide tasks and use your partner as your right hand guy. Both parties can hire while one finds a place to live and purchases the furniture. Hire the highest caliber candidates you can. Remember that the initial group of workers will make up your core team, and you must feel at ease dealing with them. So that you can determine how many individuals you need and what credentials they must possess, keep in mind Step 3.

 

Step 07: Employees

Ensure that everyone is aware of what they are doing. Establish a just employment policy that rewards successful work. Before you let go of any staff, make sure you give them an opportunity and provide them with training. Sometimes it’s beneficial to team up two undesirable employees so that the undesirable one might learn from the desirable one. A profit-sharing strategy is a further option. This encourages workers to treat your company as their own.

 

Step 08: Market

Make a professional effort to market your company. Once your company is founded, you need to reach as many clients as you can. You can hire a photographer to take professional photos of your building, and you can hire a graphic designer to make brochures.

Online visibility is also crucial. Make a quality website. Modern technology makes it simple, but if you can, hire an IT expert. Check to see whether you can develop a smartphone app for the services you offer. On your website and brochures, offer specials and discounts.

Meet with your core staff frequently to explore ways to enhance services or attract more clients. Be open-minded, consider all of their suggestions, choose the ones that best suit you, and put them into action. Here are a few strategies for marketing your company: Door-to-door marketing, telemarketing, SEO, an app’s API, and advertising

On my next article, I will solely focus on Marketing Strategies.

 

Step 09: Expand

Grow your company. Don’t pass up the opportunity to grow because you already have one business model in place; all you have to do is copy it and paste it. Open a second location or start franchising the company to other cities if it is a local business that solely caters to local clients. Finances shouldn’t be an issue at this time. Many financiers and investors are willing to lend you the money. If your company operates online, you can increase your SEO or customer service teams and reach a global audience.

 

Step 10: Balance

 Last but not least, create balance in everything you do. From the very first step to the last, balance is the key. The lesson on balance is huge, but I will discuss it briefly.

Anything bad has an excess. Avoid working your self into a health or family or friendless situation. Money is useless if you can’t share it with the people you care about or if you have to spend the majority of it on medical expenses. You must maintain a balance between your personal and professional lives. Additionally, if you are constantly exhausted and busy, no creative ideas will ever occur to you. When you’re feeling stuck, take a break and return later. You’ll come up with a solution.

Both life and business have their ups and downs. The balance lesson also teaches us to be cautious when things go well and tolerant when things go wrong. Avoid splurging on items you don’t require when you are succeeding. Additionally, keep going even if you are failing since victory is right around the corner. The hours before morning are the darkest, thus ” This too shall pass. “

You must also create a balance between you and your employees. You are their leader. If you are too hard on them, they will quit or even worse sabotage the business. If you are too soft, they will play more than work.

At the end, all businesses are about people. From your employees to your investors to your customers, balance all relationships. Share and enjoy your success.

 

Conclusion

I have gathered the information for this article from different life coaches, motivational speakers, and my own life experiences as a business developer. I hope it helps. Dream big and go for it.

‘Industry’ Showrunners Talk Harper’s Season 2 Finale Shocker, Finding Humanity in Finance Bros

By
Richard Meier
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0
‘Industry’ Showrunners Talk Harper’s Season 2 Finale Shocker, Finding Humanity in Finance Bros

SPOILER ALERT: Do not read further if you have not seen the Season 2 finale of “Industry.” 

Brutality came to the boardroom on Monday night, as the second season of HBO’s “Industry” delivered some hard bottom lines for those inhabiting the international banking series.

More from Variety

Series lead Harper Stern (portrayed with anxious nuance by actor Myha’la Herrold) has successfully orchestrated a coup against her high-powered employer Pierpont. She’s locked up the institution’s biggest client (Jay Duplass’ Jesse Bloom) with the same aplomb that got him signed. In the end, however, a life-threatening secret from Season 1 returned to bludgeon her — a blow dealt by her mentor Eric Tao (Ken Leung).

Despite her penchant for high-flying stock purchases, Harper never graduated from the state college she told the London-based bank she attended. Moreso, she fabricated evidence of a transcript and fed it directly to human resources. For this, she was fired in the final seconds of Monday’s finale. Eric has an easy explanation — that insider information given to Stern spurred handsome returns in both long and short stock plays for client Bloom, with prosecution looking likely. While Eric can frame the decision as protecting Harper’s future in the long run, her meteoric success had repeatedly threatened his own safety.

Elsewhere, publishing heiress Yasmin Kara-Hinani (Marisa Abela) has been cut off financially by her father (Adam Levy) after confronting him over an impending wave of #MeToo accusations and subsequent payouts. Disruption abounds in both the fictional market and the bedrooms and hallways of the hustlers who work it. Variety spoke to “Industry” showrunners Mickey Down and Konrad Kay over tonight’s bombshells and what the future holds.

The closing scene of the finale was a fatal blow to Harper’s future. You can’t help but wonder, was this Eric’s game plan all along? 

Mickey Down: That was the intention — to leave people feeling conflicted. It’s open to interpretation, shall we say. There are so many things that are being unpacked in that elevator scene before they go up to Harper’s “death floor.” Konrad and I love writing ambiguity into the show, that’s the joy for us. The idea that this has been a long game for Eric is totally fair. Others, maybe, have a rose-tinted idea of their relationship and he may have been saving her from herself. That’s also pretty fair.

Konrad Kay: In addition to being a force of nature, Eric can be quite a parody of a finance character — wielding a baseball bat, etc. We did’t use Ken Leung to the full strength of his abilities in Season 1. We realized that we’re writing for a generationally good actor. Like, fuck, we can do anything with this guy! In the room, we talked about Harper and Eric.  We came up with this classical, mythic, almost Western sort of story — [Eric and Harper] are old cowboy and new cowboy. What are they going to teach each other? And also, wondering about the cliche, is the town big enough for both of them? There’s a great William Goldman quote about endings, which says that they should be totally surprising but totally inevitable at the same time. I think our ending does that.

Harper had some big wins this year, but has proven to have zero security. She’s bumping her head on every step of the ladder. 

Down: Totally. Episode 5 was an exercise in explaining why she has this unchecked ambition. We learn she comes from an abusive home, where ambition is placed above everything else. She had this brother who was a victim of that kind of ambition. We were really worried about that episode. It was a massive swing for the fences. We can write about business and interpersonal stuff, quips to say on the trading room floor, but two twins that come from an abusive home? That was not directly in our wheelhouse, so we had to figure that out.

Yasmin Kara-Hanani also really went through it this season, especially at the hands of her father. 

Down: Adam Levy, this incredibly charming and dashing actor that we cast, he’s very funny. He brought a lot of his own levity to our scenes. He’s seductive.  But we approached him in a way that his misdeeds are murky. During production, we had a lot of different opinions about him. After the show started airing, we realized he was hiding in plain sight from the first moment. He’s a very honest character, in a lot of ways — a playboy who has really benefitted from my generational wealth and fucked his way through the world. He doesn’t think of himself as a villain at all. In some ways, Yasmin always had the blinkers up to his true nature, but she still can’t reckon with that. Accepting it means turning her entire life upside down. Everyone on this show is, at some point, given a choice: do something which is outwardly altruistic and good, but it might affect your bottom line. A lot of the characters push back on that.

I was also taken with Yasmin’s arc with her abusive boss, Kenny Kilbane [Conor MacNeill] — now sober and working the program after his Seaon 1 shenanigans. 

Kay: Part of the humor for us was wondering if Kenny is being truly genuine and contrite — is there a version of this sobriety that is oppressive? Yasmin was so oppressed by Kenny in the first season. It’s his attempt to become better, but… she’s totally in the right as well. His sobriety does not allow him to become a moral authority. It does not excuse some of his worse behaviors. It’s a form of narcissism, thinking you’re better than people because you’re suddenly aware again.

Down: Sobriety has its own creed, in a way, an evangelism that can become fucking annoying.

Kay: He’s a character, we think, because of his inadequacies, [he] does want to assert power over people. That manifested itself in his getting drunk. Now he’s sober and again trying to lord something over her. I don’t think it’s conscious, I think it’s his nature.

Down: In the second season, we tried to do a better job of transferring to the viewer the same visceral reactions that people are having in the scenes. Season one felt like looking at the characters in a fish bowl, and this time we wanted to put the viewer in the bowl. The trading sequences are quite exhilarating, the sex scenes are quite full on, the drug scenes are really fun. What we liked about seeing the audience’s reaction on Twitter was the experiential nature of watching. People saying they were having panic attacks. We realized that every character is trying to pump the lever of the dopamine. If Harper makes a trade or Yasmin has a line or someone has a fuck, those endorphins allow everything else to recede into the background. That’s true to life.

Season 2 had so many incredible new characters, notably the very big role you gave to Jay Duplass [as hedge fund billionaire Jesse Bloom].

Down: Duplass was so incredible, such a revelation for us. On the page, we tried to make him not feel derivative, someone who made money off the pandemic and is now chasing off the privatization of the National Health Service. That can feel like an overtly villainous character. Getting Jay, who up to this point has played much more empathetic roles, we get a performance that feels human.

Kay: We honestly didn’t realize what a transactional, craven world we were making. It’s that we’ve lived with these characters for so long and we know them so intimately. So many of our conversations are about our empathy for them. What’s great about the show, if we could get two more seasons, is that we’ve created a world where a lot of the good shit can’t exist. But what could be really thrilling, and non-saccharine and interesting, is keeping the world as interesting but writing more humanity into these people.

Let’s quickly talk about some other newbies. Alex Alomar Akpobome as Daniel Van Deventer [aka “DVD”] was fantastic, almost like Patrick Bateman on a really great antidepressant. 

Kay: DVD is the most archetypal finance bro we have on the show. He feels like he’s been plucked out of a bank. Our favorite thing about that character is that he always has the worst recommendations for things to do in London. Every single place he’s recommending — pubs, where he’s buying his food — it’s all the most ridiculous, finance bro thing. Like Time Out London.

Rishi Ramdani [Sagar Radia] also came to life this season. Particularly his recent sex scene with Harper, on the eve of his wedding. They both agree they’re “getting out the poison,” which stayed with me. 

Kay: I can’t speak for Mickey, but it’s one my favorite lines of the season. That scene is very surprising and sexy as fuck. You’ve never seen people fuck in such a bath of self-loathing. It gets hot and horrible so quickly. That rollercoaster of a scene is a microcosm of the show itself. Rishi is truly about the bottom line. Sagar carried himself with Rishi’s confidence between scenes. He ate the script.

One review, featured prominently in the show’s Season 2 marketing, called “Industry” the missing link between “Euphoria” and “Succession.” What do you make of that? 

Down: Well those are two hyper-successful shows, so we’re not gonna balk at that. It’s not bad.

What’s the word on Season 3 and what stories are you considering? 

Down: Me and Konrad talk about it all the time. We’ve been talking about the season and have some really fun ideas that we think will blow people away. We don’t know about Season 3 yet though.

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https://finance.yahoo.com/news/industry-showrunners-talk-harper-season-044232874.html

Implementing A New Digital Marketing Strategy? 10 Ways To Help Ensure ROI

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Richard Meier
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0
Implementing A New Digital Marketing Strategy? 10 Ways To Help Ensure ROI

As with many aspects of business, implementing a new digital marketing strategy can sometimes feel like a risky endeavor. When you’re new or have limited experience in business ownership, testing out new tactics and investing money in projects and initiatives that may or may not fail can feel like a waste of money and resources.

And while there’s no way to ever fully guarantee a strategy will work, there are some steps you can take to help ensure you obtain a return on your investment. Here, the members of Young Entrepreneur Council share their insights on those steps and explain why they find them so beneficial.

1. Incorporate Affiliate Marketing

Affiliate marketers can be a great option to guarantee ROI for digital marketing campaigns. Many digital marketers will only charge for “conversions” rather than “traffic.” A conversion is typically defined as someone who completes a contact form on the website or even someone who makes a purchase (if selling goods online). Further, many customers give more value to a referral or endorsement from an affiliate than a normal paid ad run by the company directly. With an affiliate business model, you can position yourself for no risk, and only pay after you have the new customer! – Bill Mulholland, ARC Relocation

2. Establish Key Performance Indicators

In today’s marketplace, digital marketing is essential, but businesses cannot afford to waste money by throwing it at the “next best thing.” To give yourself the best chances of a return on your investment when implementing a new digital campaign, you need to establish key performance indicators (KPIs). KPIs measure the progress of your goals (Are you getting what you want?). KPIs should be specific and number based. Five KPIs worth tracking include the number of visitors, leads, qualified leads, opportunities and conversion rates. Use analytic tools to track your numbers. Analyzing the data allows you to shift the campaign based on what’s working and what isn’t. Google Analytics is an excellent tool that you can set up to track specific goals as well as customize the analytics for your website. – Jared Weitz, United Capital Source Inc.

3. Leverage Promotional Codes

Advertise with a unique promotional code that gives a special digital download gift with purchase. You will be able to measure exactly how many purchases came from that marketing strategy. You can change the codes with each channel of advertising and see which channel is working the best for you so you know where to invest more of your funds in the future and where you should be pulling back from. The customer also feels special because they are getting something extra and unique for their purchase. – Mary Harcourt, CosmoGlo

4. Research Your Target Customer

Research is the most important way to ensure a return. You should establish exactly who you are targeting because reaching people who don’t care is a waste of funds. In recent years, it’s become increasingly important to know where your customers are online. Research may tell you that your customers break toward one social media platform more than others. – Matt Doyle, Excel Builders

5. Take A Balanced, Holistic Approach

A well-rounded digital marketing strategy with clear goals, objectives and metrics is more likely to show a return on investment than one that neglects any of these key components. One way to ensure a digital marketing strategy will show a return on investment is to create a balanced strategy that covers not only a single digital marketing channel but also multiple channels. This way, you can measure and compare results across channels to see which ones are performing well and adjust your budget and approach accordingly. By taking the time to create a holistic strategy, you can set your business up for success in the ever-changing digital landscape. – Sujay Pawar, Astra

6. Automate Your Processes

In order to achieve better ROI, businesses must focus on automating their marketing processes. Automation tools help by managing and executing campaigns, analyzing customer data and providing insights that allow businesses to make better-informed decisions. Optimizing and streamlining tasks are a breeze with automation. When used effectively, automation tools can take your digital marketing efforts to the next level and help you achieve better ROI. Automation can deliver this by managing and executing campaigns flawlessly right from launch to execution to analysis. This not only saves you valuable time and resources, but it also ensures that your campaigns are executed flawlessly, resulting in higher ROI. – Candice Georgiadis, Digital Day

7. Add Value Through Quality Content

Your digital marketing efforts will always work if you can create high-quality content that adds value to your users’ lives. For that, you need to have a good understanding of the market and your users’ needs, demands and more. When you know that, it becomes easier to create content that will help your users satisfy their needs, conquer their fears and solve their problems. It helps them relate to your business and return to you in the future. – Josh Kohlbach, Wholesale Suite

8. Utilize Split Testing

The key to getting a return on your digital marketing efforts is to implement split testing when possible. Split testing, also known as A/B testing, is a method of comparing two versions of a piece of content to see which one performs better. For example, you could create two variations of an ad and test which one gets more clicks. By doing this, you can ensure that your digital marketing efforts are effective and are providing a return on your investment. – Syed Balkhi, WPBeginner

9. Double Down On What’s Currently Working

Identify what’s currently getting you sales in your business and double down on those initiatives. Whether it’s SEO, pay-per-click or email marketing, determine what’s making you the most money right now and throw your budget at that endeavor. In time, you’ll hopefully find that your business is making more money and outperforming your goals. From there, you can evaluate other avenues that need growth and invest your enhanced budget in these initiatives. What’s essential is that you keep the same momentum you had on the first initiative so you don’t fall short. If you can execute this method successfully, the sky’s the limit. – Nick Venditti, StitchGolf

10. Ask Your Customers For Feedback

If you want a noticeable ROI for your new digital marketing strategy, ask your customers for feedback along the way. People will gladly tell you what they like or don’t like about your marketing. Use this information to fine-tune your strategy and create value for your audience. If you continuously improve, you’ll likely see a return on your investment. – John Brackett, Smash Balloon LLC

https://www.forbes.com/sites/theyec/2022/09/16/implementing-a-new-digital-marketing-strategy-10-ways-to-help-ensure-roi/

MVNO Business Plan 2022 With 5G Technology Assessments & Forecasts

By
Richard Meier
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0
MVNO Business Plan 2022 With 5G Technology Assessments & Forecasts

Company Logo

Dublin, Sept. 15, 2022 (GLOBE NEWSWIRE) — The “MVNO Business Plan 2022” report has been added to ResearchAndMarkets.com’s offering.

Mobile Virtual Network Operator (MVNO) companies are launched for many different reasons, many of which have more to do with other businesses than the MVNO operation itself. It is important to consider the strategies an MVNO will employ to exploit market opportunities and include in an MVNO Business Plan.

Regardless of the overall MVNO strategy, executing upon a vision requires careful planning. One thing that all successful MVNOs have in common is they started with a well-developed business plan. This must include insights regarding the impact of 5G on business operations. Accordingly, customers acquiring the MVNO Business Plan will also receive research evaluating 5G technology and its impact upon networks, apps, and services (see below for more information).

The MVNO Business Plan

This is a full business plan based on the launch of an illustrative MVNO known as Contendus. The plan covers all aspects of the company launch plan including market assessment, funding requirements, financial analysis, market segmentation, and product differentiation. Also included is a go-to-market plan, distribution and replenishment plans, comparison of MVNOs, and more. The major benefit of this report is to assist in the development of an MVNO launch and to help validate existing plans.

Launching a MVNO involves a lot of careful planning and an understanding of the competitive threats and opportunities. Understanding the competitive issues and what type of MVNO to launch is key to success. A critical aspect to the success of any MVNO is its wholesale negotiations with the host mobile network operator (MNO). Accordingly, the MVNO Business Plan includes Modelling and Negotiation Strategies for Contracting with Host Mobile Network Operators. This includes rate structures of the retail minus and cost-plus models, the pros and cons of each, and how to implement them.

The MVNO Business Plan also includes evaluation of wholesale incentives, the reconciliation process, and also what macro and micro environmental aspects to consider when defining your negotiation strategy. Also included is an example Service Level Agreement (SLA), modeled from real-life operational MVNO SLAs, which can be customized and built upon to meet the needs of their service management requirements.

With 5G poised to impact virtually every part of the communication services value chain, the publisher believes it is extremely important for the MVNO ecosystem to be informed and understand the impacts on virtual network operations. Accordingly, the report 5G Technology Assessment, Market Outlook, and Forecasts 2022 to 2030 is also included with the MVNO Business Plan.

Target Audience:

  • MVNO start-ups

  • Mobile network operators

  • MVNE/MVNO service providers

  • Investors and analysts in the mobile space

  • Suppliers of MVNO equipment and software

  • Consultants and systems integration companies

Key Topics Covered:

1. Executive Summary

2. Overview
2.1. The Business
2.2. The Strategy
2.3. The Market
2.4. The Management
2.5. The Financials
2.6. The Company Mission
2.7. MVNO Criteria
2.8. Exceptions

3. The Business
3.1. Requirements Analysis
3.2. Description of Services
3.3. Target Market
3.4. Initial Services: Primary Revenue Drivers
3.5. Potential Future Services: Additional Revenue Sources
3.6. Distribution, Purchasing, and Refills
3.7. Starter Package
3.8. Handsets and Hardware
3.9. LTE System and the SIM-card
3.10. Website and User Interface Strategies
3.11. LTE Enhancements, 5G, and Future Technologies
3.12. Back-Office and Customer Care
3.13. Mobile Network Operator Requirements
3.14. Regulatory Issues
3.15. Churn Considerations

4. The Opportunity
4.1. Opportunity
4.2. Strategy
4.3. Provisioning and Management
4.4. Infrastructure
4.5. Multi-IMSI Approach
4.6. Multi-network VPN
4.7. Security and Control
4.8. Forecast

5. The Market
5.1. US Wireless Market
5.2. Prepaid Services Market
5.3. Wholesale Communications Services
5.4. Essential Negotiation Factors
5.5. Setup Cost Analysis
5.6. Terminal Usage and Control
5.7. Network Usage and Control

6. Marketing Plan
6.1. Overview
6.2. Marketing Strategy
6.3. Initial Market Segments and Strategic Considerations
6.4. Partnering and Co-branding
6.5. Loyalty Program
6.6. Migration Strategy

7. Financial Overview
7.1. Revenue Streams and Cost Considerations
7.2. Revenue Growth
7.3. Financial Projections
7.4. Funding
7.5. Exit Strategy

8. Extensions and Upgrades
8.1. Selection Criteria
8.2. Technical Requirements
8.3. Other Factors

9. Potential Market Segments

10. The Management Team and Partners
10.1. Management
10.2. Board of Advisors
10.3. Operational Partners

11. Competition
11.1. Prepaid Players
11.2. Prepaid Market Assessment

12. MVNO Market Outlook
12.1. Overview
12.2. Global Outlook and Forecast
12.3. MVNO Drivers in Europe
12.4. MVNO Drivers in the United States
12.5. MVNO Drivers in Middle East
12.6. MVNO Drivers in Asia Pacific

13. MVNO Case Studies

14. Conclusions

15. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/j1iswb

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

https://finance.yahoo.com/news/mvno-business-plan-2022-5g-082800663.html

SECU Named Official Banking Partner of the Maryland Terrapins

By
Richard Meier
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0
SECU Named Official Banking Partner of the Maryland Terrapins

Multi-year partnership will support students through scholarships and financial education and includes naming rights for UMD’s Big Ten football stadium

BALTIMORE , Sept. 16, 2022 /PRNewswire/ — Today, SECU, Maryland’s largest state-chartered credit union, continued its longstanding commitment to Maryland communities with an exclusive 10-year partnership with Maryland Athletics. As “The Official Banking Partner of the Maryland Terrapins,” SECU will provide support for students and athletes through scholarships, financial education, and other wellness programs.

SECU Named Official Banking Partner of the Maryland Terrapins

SECU will also secure the naming rights to University of Maryland’s (UMD) Big Ten football stadium, home of the Maryland Terrapins, which will be known as SECU Stadium. SECU Stadium will debut on October 1, 2022, as Maryland Football opens its Big Ten home opener against Michigan State.

“As Maryland’s largest credit union, SECU takes great pride in partnering with Maryland Athletics and the entire University of Maryland, one of the nation’s top public universities. Together, we are not only united in our love for Maryland but also in our commitment to positively impacting the people and communities we serve,” said Dave Sweiderk, President and CEO of SECU. “As we continue to grow, it is important for SECU to give back to our communities and uphold our dedication to education and financial wellness. That’s why we are pleased to contribute to the enduring vitality of UMD, while helping its more than 40,000 students, 14,000 faculty and staff members, and Maryland’s next generation of leaders set a foundation for financial success.”

The partnership, valued at $11 million over a 10-year term plus additional variable-based compensation, will include financial wellness workshops for students, athletes and the entire campus community. The investment includes a $2.5 million gift that will support programs and facilities, including the construction of the Barry P. Gossett Basketball Performance Center, athletic scholarships, career development, mental health programs, and other support services.

To increase accessibility, SECU will also provide convenient, on-campus ATMs and access to SECU Member Advisors. SECU will provide tools and resources to educate UMD’s students, faculty and staff on various financial topics, including full financial wellness reviews and guidance on basic budgeting, new purchases and financing, lending opportunities, and debt management.

To further the partnership and its impact on the community, SECU and its staff volunteers will support a number of UMD’s events. UMD will also provide support for SECU-sponsored events, including the Polar Bear Plunge for Special Olympics Maryland, SECU’s Kindness Connects campaign and Day of Kindness, and the SECU MD Foundation’s Golf Tournament.

“SECU is a longstanding stalwart corporate citizen of the state of Maryland and the University of Maryland is thrilled to be partnering with them on a wide-range of initiatives that will benefit not just Maryland Athletics, but our entire campus community,” said Darryll J. Pines, President of the University of Maryland.

“We are proud to welcome SECU into our Maryland Athletics family,” said Damon Evans, Barry P. Gossett Director of Athletics. “From the very beginning, we aligned with SECU on goals and objectives, and more importantly, our values. It is our intent to use this partnership to do good for our student-athletes, our university and our communities.”

About SECU (State Employees’ Credit Union of Maryland)

SECU (“see-cue”), Maryland’s largest state-chartered credit union, serves 250,000 members across the state. As a member-owned, not-for-profit, SECU puts its members first and remains responsible solely to its member base. SECU seeks to serve all of its member needs in one place with most Marylanders qualifying for membership. Headquartered in Linthicum, Md., SECU has 25 financial centers and provides access to over 50,000 free ATMs through the CO-OP network. With more than $5 billion in assets, SECU ranks among the top 60 credit unions nationwide based on total assets in the U.S. Insured by NCUA. For more information, visit www.secumd.org or follow SECU on LinkedIn, Facebook, Instagram and Twitter.

About Maryland Athletics

The University of Maryland Athletic Department sponsors 20 varsity sports and supports more than 500 student-athletes and more than 200 full-time staff members. Located in College Park, Maryland, the institution is a proud member of the Big Ten Conference, the oldest and most historic athletic conference in America. Five of Maryland’s 46 national team championships have come since the Terrapins joined the Big Ten Conference in the 2014-15 season. In just eight seasons, Maryland has won or shared 45 regular-season or tournament championships in the Big Ten, third-most of any school in the conference. In those eight seasons, the Terrapins have produced eight national players of the year, 18 Big Ten Coaches of the Year, more than 50 Big Ten Players of the Year and more than 150 All-Americans. Maryland is one of four schools to win both men’s and women’s basketball NCAA Championships and one of only two to win men’s basketball, women’s basketball and football national titles. Visit umterps.com and Maryland’s social media platforms for more information.

(PRNewsfoto/SECU)

(PRNewsfoto/SECU)

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SOURCE SECU


https://finance.yahoo.com/news/secu-named-official-banking-partner-165700530.html

Preparing A Tax-Ready Accounting System: Part One

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Richard Meier
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0
Preparing A Tax-Ready Accounting System: Part One

CPA at Centaur Digital Corp, helping busy business owners decrease the amount of time and energy needed to manage their accounting system.

Business ownership is no longer the domain of a small percentage of the population, at least not according to the IRS. If you freelance or have a side gig, you have a business. One survey showed over one-third of more than 2,000 respondents run a business in addition to having a full-time job. Without any other documentation, you are likely operating an unregistered business. The IRS still wants a cut of what you make, however, and that means you need to know how much you made—and be able to back it up. As well, running an unregistered business is not always the best tax strategy.

There are many compliance matters that a small-business owner must understand when setting up their business. This article will specifically focus on what a small-business owner or freelancer needs to know when setting up a tax-ready accounting system.

At a minimum, a business accounting system should be able to generate reports that can be used to file the required tax returns each quarter or year. Using tax filing requirements as a minimum standard for your accounting system is advisable since it applies to all businesses. Past this, an accounting system can get very complex and is beyond the scope of this article.

The following accounting system best practices don’t need to be done in any particular order, and you may find you already have some of these steps completed. So, focus on the steps you missed or address the ones you started but didn’t complete. The first part of this article focuses on steps that should be taken before or in the early stages of starting your business, while part two centers on practices that are ongoing.

1. Separate business and personal accounts.

First-time business owners often fail to segregate personal and business funds. This is especially true when a business is a “side gig” or freelance work. The first step in setting up any accounting system is to treat the business as a separate entity, which it is, and have separate checking accounts and/or credit cards.

Don’t mix business and personal accounts. If you fall behind in your bookkeeping or neglect it completely, commingled funds will make it very difficult to identify legitimate business expenses. In addition, in case of an audit, it will be next to impossible to substantiate your deductions—meaning the auditor will likely disallow them and you’ll pay more in taxes. It’s simple to set up separate accounts, and it will save you many headaches later on.

2. Pick a payroll service.

Most businesses will have to pay employees, usually starting with the owner. On the surface, many payroll providers offer the same service. Providers are distinguished by the strength of their support offered when you encounter a problem or get a tax notice, how much help is provided in the setup process, and the quality of their HR and related services.

Online payroll services such as QuickBooks Payroll and Gusto will provide the tools you need to run payroll and some limited support, but not much else. They are cost-effective, but you should know what you’re doing. Other services like professional employer organizations (PEO) will take care of most, if not all, of the paperwork since the PEO becomes the employer instead of you.

Payroll typically requires timely payments, usually within a week or two, as well as monthly or quarterly reports. A business owner must ensure that these are properly handled by the payroll company to avoid filing fees and penalties. It can be beneficial to get professional help in setting up your payroll system, such as from a CPA firm or payroll company.

3. Understand tax registrations and business licenses.

In the United States, a popular type of legal business structure is the limited liability company (LLC). It is typically the easiest to set up in most states and provides a versatile and flexible tax structure. Currently, an advantageous structure for many businesses is an LLC that is treated as a Subchapter S Corporation (S-Corp) for tax purposes. However, this may not apply to all businesses, such as real estate investors, so your best choice is to consult with a tax professional when setting up your business.

In addition to the legal establishment of the business, you must have the required business licenses and tax registrations. Many times, these two services overlap and are indistinguishable. There isn’t a comprehensive guide to tell you what you need to be registered for, and many businesses operate for years without the proper licenses in place—usually due to ignorance rather than negligence.

One helpful tool for business registration is your local chamber of commerce or county office. The government wants its taxes, so they are happy to tell you what to pay. Try not to rely on other business owners, as many are not compliant themselves. Just because another business has been “doing it this way for years” doesn’t mean it’s compliant with the law.

Continue to part two of this article for three more best practices on how to set up your tax-ready accounting system.

The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?

https://www.forbes.com/sites/forbesfinancecouncil/2022/09/20/preparing-a-tax-ready-accounting-system-part-one/

aYo picks two laurels at Insurance Awards 2022

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Richard Meier
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aYo picks two laurels at Insurance Awards 2022

Ghana’s leading mobile microinsurance company, aYo Intermediaries Ghana, picked up two top awards at the recently held Ghana Insurance Awards 2022, stamping its authority on the country’s microinsurance space.

aYo Ghana, a subsidiary of MTN Ghana, walked away with plaques for the Mobile Insurance Leadership award and Best Growing Intermediary Firm of the Year award. The company won those two out of four nominations for the night.

aYo’s range of two policies – Recharge with Care (RwC) and Send with Care (SwC) – tower above other products in the mobile-based microinsurance space; and they are driving-up insurance penetration significantly, particularly among the informal sector.

The company recently marked its fifth year in the Ghanaian market, churning out some very impressive numbers in terms of subscribers as well as volumes and value of claims settled so far.

But it has since improved on those numbers. Currently, its customer base stands at 8.74 million plus, comprising of about 7.3 million Recharge with Care customers and about 1.5 million Send with Care customers.

Year to date, aYo has paid out about GH¢10.56million in claims to over 32,524 policyholders and beneficiaries.

aYo in partnership with MTN provides microinsurance solutions which leverage on technology to give all MTN subscribers and Ghanaians (particularly low-middle income and informal sector workers who are most vulnerable to risk/daily eventualities) relevant, affordable, accessible and easy-to-use insurance.

Products

As stated above, aYo has two main lines of products – Recharge with Care and Send with Care.

Recharge with Care (RwC) gives the policyholder up to GH¢120 per night as hospital cover upon admission to support admission bills, and up to GH¢6,000 as life cover on the unfortunate passing of the policyholder or a registered family member who is an additional life on the policy for free. All of that costs the policyholder only GH¢6 per month via airtime deduction. To access RwC, one simply needs to dial *296# and sign up.

Send with Care leverages on MTN mobile money and gives the policyholder up to GH¢30,000 Hospital and Life insurance cover benefits while the receiver of the MoMo also receives up to GH¢3,000 Life cover on the unfortunate passing of the sender.

SwC can be found on the regular MTN MoMo short code *170#; select option 1 (transfer money), select option 3 (Send with Care) and follow the prompt. When one opts for SwC, 5 percent of the amount he or she sends at any time will be deducted as premium from the wallet.

RwC Annual Cover

Meanwhile, as part of its fifth-year anniversary aYo has introduced a new feature to the Recharge with Care (RwC) policy, dubbed RwC Annual Cover, which enables RwC policyholders to get 12 months cover of GH¢6,000 Life and GH¢120 Hospitalisation benefit, at a one-time premium of GH¢130 annually.

In addition, policyholders get to earn 10% cash-back if no claims occur within the 12 month-cover period. The Recharge with Care Annual Cover feature is based on user feedback and lessons gained since the launch of RwC in April 2018.

Aside from the benefits mentioned, RwC Annual Cover gives customers opportunity to avoid missing some monthly premiums so they have peace of mind – knowing they are covered for the whole year in case of any eventuality. The company pointed out there are No E-levy charges on premiums paid.

For further enquiries, one can find aYo on Facebook, Twitter and Instagram with the name aYo Ghana; or reach them on WhatsApp number 0596918235 or call 100 on MTN. Customers can also dial *296#, select option 1 (continue), then option 8 (more info), then 6 (more), and 4 (request call back).

aYo picks two laurels at Insurance Awards 2022

New Mountain Finance: This 9.4% Yielding BDC Just Became A Strong Buy Again (NASDAQ:NMFC)

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Richard Meier
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0
New Mountain Finance: This 9.4% Yielding BDC Just Became A Strong Buy Again (NASDAQ:NMFC)

We Are

New Mountain Finance (NASDAQ:NMFC) is a high-quality business development company (“BDC”) which recently experienced stock price deterioration.

Because the business development company has a conservative-leaning investment portfolio, solid portfolio health, and variable rate exposure, I believe the dip is a terrific chance to buy or double down on New Mountain Finance.

Because inflation remained high in August, at 8.3%, New Mountain Finance is unquestionably a business development company whose passive income is worth considering on the drop.

A Safe And Well-Managed Business Development Company

New Mountain Finance is a safety-focused business development firm that focuses on First and Second Liens. In the second quarter, First Liens accounted for 56% of the BDC’s portfolio investments, while Second Liens, which are slightly riskier than First Liens but offer a higher return, accounted for 18% of portfolio investments.

Secured assets accounted for 74% of all portfolio investments. Other instruments in which New Mountain Finance invests include common and preferred equity, which account for 12% of the BDC’s interests.

In 2Q-22, the total value of New Mountain Finance’s investments was $3.3 billion.

Portfolio Overview

Portfolio Overview (New Mountain Finance Corp)

The portfolio value of New Mountain Finance climbed by $43.2 million in the third quarter, owing mostly to a substantial number of new originations. The business development company originated six new first liens to portfolio companies and one new investment in preferred shares. Total gross originations were $220.4 million, up from $153.7 million in the first quarter.

Portfolio Originations

Portfolio Originations (New Mountain Finance Corp)

Credit Quality

Unfortunately, New Mountain Finance’s non-accruals increased in the second quarter. A total of 7 out of 107 investments were non-accrual, indicating that certain borrowers are under financial difficulties and are not paying regular interest payments.

The overall value at risk is $45 million (up from $30 million in the previous quarter), representing a 1.4% non-accrual ratio.

Non-accrual investments accounted for 0.9% of total investments in the first quarter. So, while there has been some decline in credit quality, it is not yet significant.

Non-Accruals

Non-Accruals (New Mountain Finance Corp)

Floating Rate Exposure

New Mountain Finance has aggressively invested in floating-rate loans, which promise to provide greater interest income if the Fed hikes interest rates further.

So far in 2022, the market has seen two 75-basis-point interest rate increases, with more possible. With inflation remaining high in August at 8.3%, the central bank has a strong case for another large interest rate hike at the end of September. This would be a positive development for New Mountain Finance, whose portfolio comprises of 89% variable rate loans.

Impact Of Changing Rates

Impact Of Changing Rates (New Mountain Finance Corp)

This floating rate upside may help New Mountain Finance’s dividend coverage metrics in the future. The BDC’s dividend coverage ratio has been reasonably constant at about 100-101% since the company’s IPO in 2011, but increased net investment income from resetting loan rates in a rising interest rate environment might improve the coverage and contribute to a higher margin of safety.

Dividend Coverage

Dividend Coverage (New Mountain Finance Corp)

Net Asset Value

New Mountain Finance’s net asset value was $13.42 per share as of June 30, 2022, a 1.0%, or $0.14, decline from the previous quarter. The BDC’s net asset value has declined nearly 5% since the company’s IPO more than a decade ago, according to its long-term record.

NAV

NAV (New Mountain Finance Corp)

New Mountain Finance is trading at a 5% discount to net asset value based on the most recent net asset value. As long as the stock is trading at a discount to net asset value, I recommend purchasing New Mountain Finance.

Chart
Data by YCharts

Why New Mountain Finance Could See A Lower Valuation

New Mountain Finance is a well-managed business development firm with a portfolio that prioritizes safety while maintaining acceptable credit quality. However, deterioration in credit quality, loan losses, and changes in monetary policy by the central bank could result in a higher discount to net asset value.

My Conclusion

Your next opportunity to purchase New Mountain Finance’s 9.4% dividend has arrived. The stock has experienced some unwarranted stock price downturn in recent days, but investors should concentrate on what is truly important here.

In the second quarter, New Mountain Finance paid its dividend with net investment income, and the business development has significant variable rate exposure, which implies investors may see an increase in NII if the central bank continues to raise interest rates.

Last but not least, I view the valuation of New Mountain Finance’s stock (5% discount to net asset value) as attractive.

https://seekingalpha.com/article/4541941-new-mountain-finance-this-9-4-percent-yielding-bdc-just-became-a-strong-buy-again

7 Best Marketing Practices of All Time

By
Richard Meier
-
0
Marketing

Position yourself as an expert

 

Customers approach your marketing company because they require assistance. What motivates a customer to call a business after seeing a faceless advertisement in the newspaper? merely the service However, if they are looking for a service and come across an article written by an authority (YOU) that addresses some of their main concerns, they are more likely to trust your business since you have already provided them with something of value.

To be an expert, you must

  1. project confidence in your voice and physical posture, 
  2. have thorough knowledge of your products and services, 
  3. BRAG a little!

 

7 Aplikasi untuk Tim Digital Marketing Anda -

 

Here are a few ideas that will take some of your time, produce outstanding results, and cost you NOTHING but will help you become an expert.

 

30-Second Elevator Pitch

 

When you meet a potential customer, being able to rapidly and precisely summarize the benefits of your goods and services demonstrates your expertise in your field, your self-assurance, and your organizational skills. Spend some time developing a sales spiel that explains your value to the market, and have each of your staff memorize it. Once completed, it will enable an unflinching projection of confidence whenever you or your workers speak about your business. It is a priceless tool.

 

Expert Articles

 

Locate a trade journal and get in touch with the editor. They are constantly looking for new editorial material! Consider starting a column. Make sure to get a professional marketing! Take copies of your pieces and post them on your blog, website, and media kits. Your skills and status in the field are instantly recognized as a result. You will soon be asked to give speeches and write articles for various outlets.

 

Speaking Engagements

 

Speakers are always needed by business chambers, industry organisations, and Rotary Clubs. Enter the room and let them know you are there and what you can provide. They will find it easier to find materials if you write a one-page profile explaining the subjects you are qualified to speak on. Watch for “Call to Speakers” notices for conferences and other events as well.

 

Media Interviews and PR Gigs

 

HARO – Help a Reporter Out is a great resource for PR opportunities. Be sure to sign-up for their daily emails and respond to any inquiries that are relevant to you.

 

Winning Contests

 

Learn about the competitions and contests taking place in your field of expertise. Businesses can typically enter and receive votes for themselves. There are frequently few companies who enter the competition, which greatly increases your chances of winning. An honor bestowed by a third party must be acknowledged on websites, in press releases, and in the workplace.

 

LinkedIn

 

If used effectively, LinkedIn offers incredible potential, just like in-person networking. A wonderful method to establish yourself as an authority is to join groups, offer stuff, and respond to questions that are asked. A excellent method to reach potential customers is through expanding your network, getting in touch with prospects, and changing the status of your profile.

 

Testimonials

 

Establish a follow-up procedure so that each happy client gives you a written recommendation that you can use on your website, email templates, and brochures.

 

Create and showcase your professional image and brand

 

Your brand image reflects who you are and inspires confidence in your customers. Why should a client trust you to handle their project with a higher level of care if you didn’t take the time to carefully create your brand? A professional designer should be enlisted to create your logo, letterhead, business cards, and website. Your investment in these technologies will ultimately result in considerably more profits for you. You may create a thriving business by combining a professional brand and website with a solid operational framework and marketing strategy.

 

Consideration should also be given to brand consistency. In order for your client to remember you amid the tens of thousands of other brands they see every day, every branding item you choose—from business cards to vehicle wraps—must have a consistent appearance and feel.

 

Many small and medium-sized businesses are unaware of the power of mobile advertising and automobile wraps as branding tools. Due to the frequent usage of mobile billboards and vehicle wraps by large corporations, small and medium-sized businesses likely perceive the cost of this form of advertising as being prohibitive. This is untrue, and I strongly advise using this method of promotion in a variety of sectors. If you drive, you should be promoting your company to the thousands of passersby you pass every day. So a customer will think, “I saw them on the highway; they must be a renowned company,” when they see your emblem.

 

Collect and store critical customer and potential customer data

 

What do you do with all of the business cards you get from attending networking events? You most likely put them in a box and forget about them, just like the majority of marketing business owners. What about the database of past clients you have access to? or the viewers of your website? All of these people have interacted with you, and you are losing the opportunity to get to know them better and conduct future business with them.

Here are some simple ways to setup a system to collect and use this data:

 

FREE OFFERS

 

Have a pop-up box with a free offer on your website’s main page. All they have to do to access the offer is enter their email address, and you’ll send them a copy of the article in.PDF format. They won’t just become another website visitor thanks to the fact that you now have a way to get in touch with them!

 

E-Marketing

 

Join a service that offers email marketing, such as iContact.com . You may easily send out monthly emails in this manner without annoying folks. I advise communicating with your clientele at least twice every month. Make the information marketing compelling so that readers will want to share it with their friends!

 

Newsletter Sign-up

 

Have a place on your website for them to sign up for your e – Marketing newsletter.

 

Consistency

 

Consistently touch your client base so they don’t forget about you. You never know when they or someone they know may need what you offer!

 

Generate content and have multiple channels of distribution

 

Ketahui 5 Jenis Digital Marketing Content yang Dapat Mendorong Bisnis Anda - - IDEOWORKS

 

In a world of digital communication you MUST use social media, blogging, and PR outlets to compete. If you are not, know that your competitors are.

 

Blogging

 

Search engine optimization is the primary advantage of blogging (SEO). Given that Google owns blogger.com and that it can quickly help you rank well for important keywords, I highly recommend it. It is simple to use and will benefit your marketing company right away.

 

LinkedIn, Twitter, and Facebook

 

Every time you create content, you need to have a clear distribution strategy in place. Send it to your current client e-marketing list, publish it on Facebook, create a blog post, and tweet a link to the blog article.

Content creation and the methods utilized for content distribution are two important aspects that keep a business on the cutting edge and in front of your clientele. Content that mentions finished projects, contracts, honors, offers and promotions, articles you’ve written, new website debuts, new items, and pretty much anything else deemed newsworthy is considered content. If you don’t tell them, how will they know? Your prospective customers don’t frequently check your website to see what’s new. It is your duty to inform them, and to inform them frequently. This ongoing contact fosters customer community and increases brand loyalty, not just chance encounters!

 

Consistency

 

Establish a timetable so you can communicate with your clients on a regular basis and stay on marketing course. Erratic touches don’t produce reliable revenue. Budget cuts should be made last for marketing even when business is slow. Because it creates a window of opportunity for you to increase your market share when all of your rivals lower their marketing expenses!

 

Be Easily Found on the Internet

 

Your company is doomed if it can’t be found online. The yellow pages are no longer useful, and building your firm just through word of mouth would take too long. Use these easy techniques to get found quickly.

 

Google Local Business

Google's Digital Marketing Certificate Recommends Keyword Density Percentages

You are losing out on a TON of business if your company is not included in Google Local Business. You know those links to the right of the map at the top of the page, beneath the banner advertising? For that role, those companies do not pay anything at all! All they did was put their companies on Google Local Business! They appear whenever a customer searches for a company in their category nearby—FREE of charge.

 

Blogging

 

The biggest advantage of blogging is search engine optimization, as I mentioned earlier and cannot emphasize this enough (SEO). Given that Google owns http://www.blogger.com and that it can quickly help you marketing rank well for important keywords, I highly recommend it. It is simple to use and will benefit your company right away.

 

Keywords

 

Make a keyword list in ten minutes. The search terms that your customers will use to find you online are known as keywords. Be innovative. To help people find your products, some of your keywords should be typical misspellings of words. I can’t even begin to count the amount of times Google searches for “vehcile wraps” as opposed to “vehicle wraps” led to sales for us. Press releases, your website, blog posts, articles, and responses to forums online should all contain these keywords.

 

Directories

 

Make sure you are aware of the places your clients look for the services you offer. Calling them and asking is the simplest marketing approach to learn more. They’ll share with you the resources they use, including blogs, magazines, and publications you might not be familiar with. Additionally, make sure you register with free online marketing directories. How will you be able to locate the directories? Google your own terms and behave like a customer.

 

Track what works

 

Why spend money on ineffective strategies? Know what you’re doing, and track each technique in your project management software or an Excel spreadsheet. Asking your client “Where did you hear about us?” and getting their response will make it easy. Go over your sales at the end of the month to determine where the majority of your revenue is coming from and where it isn’t. Then, focus more on the areas that are producing results.

 

I hope these marketing strategies have helped you realize that marketing and PR doesn’t have to be expensive or hard. If you work smart and implement a clear system of executing these tactics it will be reflected in your bottom line. Even in this economy.

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