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Posts tagged as “virtual”

Free Virtual Receptionist: Here’s What You Should Know About It

In the day to day activities of a business, it is important to have efficient people around you who clearly understand their job roles and responsibilities. These people can bring… Read more » (c) Powered by WPeMatico

Virtual Currency & Payroll: What HR Pros Need to Know

As most HR and payroll professionals will attest, people are very particular about their pay as are the companies that pay them. Believe it or not, some US companies still pay people exclusively in cash—presumably to get around paying taxes or to avoid having to document paying people who are unauthorized to work in the country. Other companies refuse to even cut paper checks, instead requiring all employees to be paid by direct deposit. This is perfectly legal as long as the employer does not control which bank or account employees use. Other employers, particularly startup companies, pay their employees exclusively in equity. Others pay mostly in stock or in a combination of salary, stock, “cafeteria plan” benefits and fringe benefits. Freelancers may be paid ACH deposit to their bank accounts through sites like UpWork, Freelancer or even PayPal. The newest form of payment to emerge isn’t even “real” currency—that is, it isn’t tied to a country’s official currency. It’s called virtual currency, and its use as a payment method has important implications for payroll. What Is Virtual Currency? Virtual currency or cryptocurrency is “the digital representation of value that is issued and controlled by its developers, and used and accepted among the members of a specific (virtual) community.” Unlike traditional currency, which has more of a stable value, virtual currencies are a hybrid that is best described as part stock, part cash. Because you can spend virtual currency online the same way you can spend pounds or dollars, it is like traditional money. And because transactions occur independently from formal banking systems and are untraceable, they are more like physical cash. The speculative nature of cryptocurrency, however, makes it more like stock. The number of people willing to use and accept the currency plays a large role in its value. How many people use virtual currency? Since the appearance of bitcoin in 2008, cryptocurrency has slowly grown in popularity. Coinbase, a digital wallet used to hold, buy or sell your bitcoins, ethereums or litecoins, currently claims to have served more than 10 million users worldwide. Yet, many people don’t know what a bitcoin is. As of 2014, “76 percent…

5 Virtual Services and Tools Travelling CEOs Need

Travelling CEOs definitely need virtual services to make sure their business never sleeps and no necessary tasks go undone. There are a number of things to consider when taking your… Read more » (c) Powered by WPeMatico

176: How to scale your business by hiring a virtual assistant

As an entrepreneur you’re taking on a lot of responsibility, and it can sometimes feel like you’re doing everything yourself – because likely, you are. And it makes sense: you decided at some point that you had an idea worth pursuing and a vision and mission to carry out. So you started to do the work necessary in order to accomplish that. But once you have the foundation set and your business is ready for growth, you can’t continue to be the one working in your business; otherwise, you’ll never get to be the one working on your business. Plus, scaling a business on your own is virtually impossible. Hiring a virtual assistant or employee In order to make this switch – from doing everything yourself and constantly feeling overwhelmed, to actually having time to brainstorm new ideas, implement them and start to scale – you have to consider hiring a virtual assistant or employee to help. If you’re happy running your business on your own and aren’t interested in hiring a virtual assistant or employee, then that’s perfectly fine. But understand that in making that choice, you are choosing a particular type of business: a business that might provide you exactly what you want and need, but that will never be a scalable business. So, let’s look at the specific steps you can take and the considerations you should have in mind. 1. Choosing your type of business Before we dive into hiring a virtual assistant or employee, let’s make sure that’s the right move for you. Choosing your type of business is actually quite simple, and it’s tied directly to two things: What you want your business to accomplish (your vision) What you want your lifestyle to look like (your end goal) Let’s take Entrepreneurs On Fire for example. John launched Entrepreneurs On Fire in September 2012 with a vision to inspire millions. He was willing to put in long hours, hire others to help, and run into whatever roadblocks came his way. He would find a way around them. But he also started out with two virtual assistants…

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