6 Must-Attend Fall Events for Small Business Entrepreneurs to Learn and Network

As the leaves turn and the air grows crisp, fall brings an array of exciting opportunities for small business owners and entrepreneurs to learn, network, and grow. Attending industry events is a fantastic way to stay updated on the latest trends, gain valuable insights, and make meaningful connections.

While planning your journey, consider using Navan for seamless hotel and flight bookings. With exclusive discounts and business-friendly services, Navan ensures a hassle-free travel experience tailored to your professional needs. Unlock business travel deals and repurpose funds back into your business!

To help small business entrepreneurs find the best events for learning and networking this fall, we asked CEOs and directors for their top recommendations.

From attending the VRMA Annual Conference to visiting the Small Business Expo, here are six events where you can build genuine relationships and explore collaborative possibilities.

Attend the VRMA Annual Conference

“As the CEO of a vacation rental management company, I highly recommend attending the VRMA Annual Conference. I have attended for years and built invaluable relationships with industry leaders. Last year in Chandler, AZ, I connected with the founder of a housekeeping training firm. We collaborated on an employee development program that decreased turnover by 43% for our managed properties. 

The VRMA curates world-class speakers on critical topics like marketing, operations, and customer service. One session revealed a new guest-screening system that decreased unpaid bills by 65% in its first month. The expo hall features cutting-edge tools for streamlining business. 

Vendors I met at VRMA became key partners, drastically improving productivity. For networking, learning, and growth in the vacation rental sphere, VRMA is the way to go.”

Garrett Ham, CEO, Weekender Management

Join the Digital Summit Series

Digital Summit 2024

“As the director of marketing operations for a digital agency, I highly recommend the Digital Summit conference series. 

Last fall at their Phoenix event, I connected with the founder of an SEO firm. We ended up collaborating on an integrated campaign that drove a significant increase in organic traffic for a mutual client. 

The Digital Summit curates world-class speakers and actionable insights. One talk revealed how to optimize Google My Business profiles for local SEO wins. We tested their tips and saw a 54% jump in calls and directions requests for local clients. 

The exhibit hall is a great place to find cutting-edge tools. I've found vendors at Digital Summit that became key parts of our marketing stack. Put Digital Summit at the top of your list.“

Joseph Yarber, Director of Operations, Limestone Digital

Experience HubSpot’s Inbound Conference

“As the founder of a digital marketing agency, I highly recommend HubSpot’s Inbound Conference. I've attended multiple times and built relationships. 

Last fall, I connected with an analytics expert. We collaborated on a campaign that increased organic traffic considerably for a client. The conference has world-class speakers sharing actionable insights. 

For networking and growth, HubSpot’s Inbound is top of the pack. The connections and lessons will fuel your business for months.“

Joe Amaral, Founder & COO, Anthem Software

Explore the Digital Marketing World Forum

“For small-business owners looking to network and learn, I highly recommend the Digital Marketing World Forum. It's held each fall in locations like New York and Amsterdam. 

As the founder of a digital marketing agency, I've found this conference to connect with other industry leaders and potential partners. Last year, I met another agency owner focused on paid ads—we ended up collaborating on several client campaigns that were mutually beneficial. The breakout sessions provide tactical advice you can implement right away. 

One talk on “video marketing hacks” revealed how to boost views and shares with ephemeral content—we tested that with a client and saw a 37% increase in video completion rates. 

The exhibit hall introduces you to new tools and vendors in a casual setting. I've found platforms at DMWF that became vital parts of our tech stack.

If networking and education are priorities, I highly recommend attending DMWF. The connections and takeaways are worth far more than the cost of attendance.“

Josh Cremer, CEO, and Creative Director, Redfox Visual

Participate in the Inc. 5000 Conference

“The Inc. 5000 Conference & Gala during the fall is among the greatest small-business events for entrepreneurs. The occasion is hosted by Inc. magazine and marks the fastest-expanding private firms in America. Consequently, it serves as a great platform where small-business owners can take lessons from renowned industry captains, attend helpful workshops, and engage in networking sessions meant to foster real friendships and collaborations. 

Through this conference, important insights on issues such as scaling a business are provided. Thus, an entrepreneur who wants to grow his or her enterprise and network with professionals of similar ideas cannot miss it for anything in life.“

Sumit Raghav, Event and Exhibition Planner, NS Events and Exhibitions Fzc.

Visit the Small Business Expo

“One of the best business events in the fall for small-business entrepreneurs is the Small Business Expo. This event offers a unique blend of learning opportunities and networking. A few years ago, I attended the Expo in New York and was impressed by the range of workshops and keynote speakers. I vividly remember a session on digital marketing trends that provided actionable strategies, which I implemented to boost our online presence.

What makes the Small Business Expo particularly valuable is its focus on practical business growth. The event features a diverse array of exhibitors, from financial services to tech solutions, offering tailored advice and resources for small businesses. During the Expo, I had the chance to engage in one-on-one consultations with experts who helped refine my business strategy.

The networking aspect is also exceptional. The Expo facilitates meaningful connections through structured networking sessions and casual meet-and-greets. I met a fellow entrepreneur who shared insights on streamlining operations, leading to a fruitful partnership that improved our efficiency. The genuine, collaborative atmosphere makes it easy to build lasting relationships. For small-business owners looking to expand their knowledge and network, the Small Business Expo is a must-attend event.“

Rodney Steele, CEO, Dinsmore Steele

Upcoming Small Business Events in Fall 2024

Quick Tip: Keep all business and personal expenses separate!

1. RMA Annual Conference

Description: The RMA Annual Conference is a premier event for risk management professionals. It focuses on strategies and best practices in financial services and risk management. Attendees can participate in interactive sessions and network with industry leaders.

Dates: December 9-12, 2024

Location: Virtual

Website: RMA Annual Conference​ (RMAHQ)​ (RMAHQ)

2. Digital Summit Series

Description: The Digital Summit Series brings together marketers, digital strategists, and business leaders to discuss the latest trends and tools in digital marketing. The series features multiple events across the country, providing ample opportunities for learning and networking.

Dates and Locations:

• Philadelphia, PA: September 24-25, 2024

• Atlanta, GA: October 3-4, 2024

• Boston, MA: October 29, 2024

• Raleigh, NC: November 4-5, 2024

• Los Angeles, CA: November 14-15, 2024

• Dallas, TX: December 4-5, 2024

• Portland, OR: December 11-12, 2024

Website: Digital Summit​ (Digital Summit)​ (Digital Summit)​ (Digital Summit)​ (Digital Summit)

3. HubSpot’s Inbound Conference

Description: Inbound is a vibrant conference hosted by HubSpot, focusing on inbound marketing and customer engagement. It features keynotes, breakout sessions, and workshops from industry experts, providing valuable insights into marketing, sales, and customer success.

Dates: September 17-20, 2024

Location: Boston, Massachusetts

Website: Inbound Conference

4. Digital Marketing World Forum (DMWF)

Description: The Digital Marketing World Forum is a leading conference for digital marketers, featuring insights into content marketing, social media strategies, AI, and data analytics. It offers a platform to explore the future of digital marketing with global leaders.

Dates: October 25-26, 2024

Location: New York City, New York

Website: Digital Marketing World Forum

5. Inc. 5000 Conference

Description: The Inc. 5000 Conference celebrates the fastest-growing private companies in America. It's an excellent opportunity to learn from top entrepreneurs, gain insights into business growth strategies, and network with other ambitious business leaders.

Dates: October 31 - November 2, 2024

Location: Phoenix, Arizona

Website: Inc. 5000 Conference

6. The Small Business Expo

Description: The Small Business Expo is the largest networking event for small business professionals, providing resources, insights, and strategies to help businesses grow. It's a fantastic platform to connect with vendors, explore new products, and learn from industry experts.

Dates and Locations:

• New York, NY: September 19, 2024

• Los Angeles, CA: November 14, 2024

Website: Small Business Expo

Attending these events is more than just a chance to learn; it's an opportunity to immerse yourself in your industry, connect with like-minded professionals, and expand your horizons without the usual business pressures. You'll return with fresh insights, new connections, and renewed energy to drive your business forward.

Make the most of your experience by booking with a platform designed specifically for business travel, offering competitive discounts and seamless coordination of your travel arrangements. Whether you're seeking inspiration, education, or collaboration, these events provide the perfect backdrop for your professional growth.

Consider turning your trip into a “Workcation”, taking time for yourself during or at the end of any business event to be present and envision the adjustments and pivots you plan to make.

Book Your Business Event Trip with Navan!

Wave of Bank Mergers: How they Affect You And Your Business

Co-authored by:

Garit Boothe Owner of Content Marketing Agency “Digital Honey”

Most people don't think about the banking business unless it's in the news. In the same way, banks may look like they will always be there, but many of them change or join with other banks for different reasons. Experts say it's nothing to worry about, but there are some things to think about and changes you might have to make.

Dive In:

• What is a Bank Merger

• Watch for changes in your account & Decide if you will stay: Co-authored by: Garit Boothe Owner of Content Marketing Agency “Digital Honey”

• Replacing cards and changing information

• Setbacks to business accounts

• Commotion in customer service?

What is a bank merger?

When two banks join together to make one company with new ownership and a new legal structure, this is called a bank merger. People usually consider it a friendly purchase because the two banks have agreed to work together, however, this is often not the case.

A bank might start deciding to merge with some other bank to cut costs or move into a new market. It also helps a bank grow and get more customers, giving it more money to use. When banks have more capital, they can give customers more loan options.

Two banks might also join forces to make up for gaps in technology or products. One bank may have a great team of people who lend money to businesses, while the other might be good at managing wealth. By coming together, the two banks can give their customers better services.

When banks join together, the name is sometimes the only thing that changes. In other cases, many products and services have been added to improve customer experience. Even though your bank has joined with another, that doesn't mean you need to find a new one. Most of the time, the new bank will be very similar to the one you've used.

Watch for changes in your account & Decide if you will stay:

Co-authored by: Garit Boothe Owner of Content Marketing Agency “Digital Honey”

After a bank merger, the new bank may change how it does loans. This could mean different loan options, interest rates, or rules for getting a loan.
For example, you may need a higher credit score or make more money to be approved for a loan.

It's also possible that the new bank will stop offering certain loans or change the terms of the loans that it does offer. If you have a loan with the bank, it's important to pay attention to any changes that are made and to check your loan documents carefully. If you have any questions or concerns, you should contact the bank's customer service team for help.

When two banks merge, they will combine their mortgages, business accounts, and loans together. This means that the terms and conditions of these accounts may change, as well as the interest rates and fees. Customers may also have changes in their account numbers, login information, and online banking portals. Some customers may not be able to use certain products or services that were offered by one of the banks. It's important for customers to read any information they receive from the bank and to ask any
questions they may have.

When thinking about staying with a bank after it merges, you should look at a few things. Some examples are:

• If the bank's fees and charges are good compared to other banks

• If the bank has the services you need, like online banking or loans

• If the bank's branches and ATMs are convenient for you

• If the bank's customer service is good

• If the bank is financially stable.

Replacing cards and changing information

One thing that will always happen when a bank changes hands is that customers' basic banking information will change. Since your account numbers will likely change after the switch, you'll need to replace any credit or debit cards you hold with the bank and stop any automatic payments linked to those cards.

Even though it's inconvenient, this might not seem like a big deal in the big picture of your banking life. But remember that this does not always go as seamlessly as the bank says it will. During mergers, debit cards, as well as other digital services, don't always work well. Hinsdale Bank & Trust's SVP and head of retail banking.

Customers already going through a lot of change quickly can find this very frustrating. Since many other customers will be trying to stimulate their new cards simultaneously, as you, this rush could cause delays. And the longer you go without your cards, the harder it will be to do the things you need daily.

Read Also: 10 New & Old Ideas For 2023 Businesses

Setbacks to business accounts

Problems with transitions can be annoying and inconvenient for personal accounts, but they can be very bad for business accounts. Sometimes, changing to a business bank account is harder than changing to a personal account. And if you can't get into your business bank account for a long time, your way of life is in danger.

Very important transactions could fail, which would be bad for you and your customers. Most business owners have set routines for one's books, and any changes that happen when banks merge can hurt their businesses. Also, remember that your bank's move could make it less familiar with the local business scene, making it harder for your bankers to help and understand you than before.

Commotion in customer service?

When you encounter a problem with your bank's transition, it makes sense to call customer service to help you find a solution. During the busiest time of a transition, however, customer service is likely to be busy, leaving you to deal with the effects of high volume.

If you need help, you might have to wait up to an hour because hundreds or thousands of other customers are also going through the change. Even if you get in touch with a customer service rep, they might not treat you like a person and give you a solution that isn't good enough or doesn't work.

It's also possible that your problem is so complicated that you'll be passed around to different people repeatedly, but nothing will get fixed. Staying with a bank that wants to treat you like just another account number isn't worth it.

Through all of life's ups and downs, you need a bank that you can count on to meet your long-term needs and understand your community just as well as you do.

A Woman Is Ordered To Repay $2,000 After Her Employer Used Software To Track Her Time.

Let's have a candid conversation about remote work time tracking – the good, the bad, and everything in between.

Remote work is no longer a trend; it's a way of life for many of us. Technology has paved the way for working from the comfort of our homes, a coffee shop, or even the beach. And let's not forget the benefits – the flexibility, the potential for cost savings, and access to a global talent pool.

But, and there's always a but, time tracking has emerged as a necessary evil in this remote work revolution. On one hand, it's a productivity booster. The idea of someone watching your clock tends to keep you on your toes. You're less likely to slip into the procrastination zone when you know your work hours are being monitored.

Plus, it's a resource allocation wizard. Businesses can look at the data and figure out where they should invest more time, money, and effort. It's like having a crystal ball for decision-making.

And for those businesses that bill clients by the hour, time tracking ensures your invoices are as precise as a Swiss watch. It's all about transparency, which builds trust, and who doesn't want trust in business relationships?

But there's a downside, isn't there always? Some folks view time tracking as a digital leash, a sign of distrust. It can feel like you're being micromanaged, and nobody likes that feeling. Finding the balance between monitoring and autonomy is a tricky dance.

Implementing time tracking software isn't always a walk in the park either. It can be a tech puzzle, especially if your existing tools don't want to play nice with your new tracking buddy. Plus, you might need to show your team how to use it, which takes time and patience.

And let's not forget privacy concerns. We all have a right to a little digital privacy, and continuous monitoring can feel like someone's peeking over your virtual shoulder.

Accuracy is another thing to consider. Manual tracking can be a little like trying to catch smoke with your bare hands. If employees forget to log hours or aren't entirely honest, your data becomes about as reliable as a weather forecast in April.

And that is where this story begins…

Karlee Besse, a Canadian accountant, was fired from her job because she wasn't working hard enough. She had to fight her former boss and the software he used to track her time. Now, a Canadian civil tribunal, part of the legal system, has decided that Besse owes her old company $2,756.

This is because the software on her laptop showed that she lied about more than 50 hours of work. Reach CPA is an accounting firm based in British Columbia, Canada. Besse worked for them from home. Last year, Besse said she had been fired without "just cause." Her boss said that Besse should have been fired because she stole time from the company.

Reach CPA said that it found evidence using software called TimeCamp, which keeps track of how long files are opened and what they are. There was a difference of 50 hours between how much time Besse said she worked and how much time TimeCamp said she did work.

Besse said that the program was hard to use and that she couldn't get the software to tell the difference between work time and time spent on her laptop for personal use, which her employer let her do during off-hours.

In a Video, reach CPA showed the court that TimeCamp could record when and how long employees connect work-related documents. It can also tell when they are on non-work sites like a streaming service like Disney Plus and not on work-related documents.

The company makes the final decision about what works and what is not work. Besse also said that she spent a lot of time working on paper documents, but she didn't tell her company that because she thought they wouldn't want to know.

Read Also: Best Search Engine Optimization Methods For A Small Business

But TimeCamp also keeps track of what people print, and the company found no proof that she printed many documents. When Beese's boss asked her about the 50 hours she couldn't account for, she said that some of the hours she put on her timesheet were wrong.

I've put time on files I didn't touch, which wasn't right or appropriate in any way, and I know that. I'm sorry about that." A video in the ruling shows what Besse told her company in a meeting. In the end, the Civil Resolution Tribunal didn't agree with Besse.

The court also said that Besse has 30 days to pay back her former boss for the work hours she was paid for but didn't do, as well as for other costs that went along with it. More and more companies use technology to keep an eye on their employees while they work from home.

Employers see it as a way to ensure workers are not slacking off and make the workplace run more smoothly. On the other hand, workers and people who care about privacy say that this kind of tracking is invasive and worry that it will make people used to being watched at work, even when they return.

Small Business Weekend Marketing Tips: Small Business Saturday, Black Friday, and Cyber Monday

Small businesses are the center and soul of the U.S. economy. They are also an important part of the community where they live. As a small business owner, you help people eat, dress, have fun, and prepare for life. Unfortunately, the rise of big companies that do everything has made it hard for small businesses to compete.  

The coronavirus pandemic made this problem even worse. Lucky for small businesses, there are a few marketing plans to help them compete with the big ones. Small Business Weekend is one of these projects. Seventy-seven percent of consumers told the Small Business Association (SBA) that Small Business Weekend makes them want to shop small for the holidays and the rest of the year. 

If you own a small business, participating in the celebration could significantly impact your holiday profits. Let's look at 12 ideas for marketing that you can use to help your business during Small Business Weekend.

What is a Small Business Weekend?

Small Business Weekend is a shopping holiday that began in 2010 with a campaign by American Express. Now, the goal is to allow small businesses to compete with big chains. The holiday falls between Black Friday and Cyber Monday, which is perfect.  Small Business Weekend is on November 27 this year.  

You can bring in more customers with the right Small Business Weekend marketing ideas. Even though Small Business Weekend isn't as well-known as Black Friday, it's still a good idea to prepare for it. The SBA found that about 110 million people shopped during the event in 2019, which led to almost $2 billion more sales than the year before. 

Weekend Internet Marketing for Small Businesses 

Whether you have a storefront or only do business online, digital marketing can help your business. 

Send email campaigns 

Email marketing can help you stand out, and it's a great choice for small businesses that wish to make a big difference. At least a week before Small Business Weekend,  mailing lists should start. So, customers will know about the holiday and any sales that might accompany it. 

Make a statement on social media. 

Brand awareness can be helped by promoting a business on social media.  Customers will be more interested in your status updates if you use humor,  promotions, sneak peeks, behind-the-scenes looks, and information about your products. 

Use Instagram ads or Facebook ads. 

If you run a small business, you likely already have a social media presence. Ads on  Facebook and Instagram can be very effective ways to market. You decide how much you devote, so your costs can be as low or high as your budget lets you. 

Non-digital marketing for small businesses 

If you do most of your business in a physical location, these marketing strategies could help you. 

Utilize your community

Get to know people in your area by going to local events. You could sponsor a Little  League team, a 5K walk for charity, or a run. You could also give away things or services or help at charity events. At community events, you can naturally talk about your business. You can show your support while making your customers feel good about buying from you. 

Organize a party. 

Shoppers like to be involved and moved by what they see. You can make plans ahead of time for an event, such as an evaluating demonstration or a hands-on,  interactive activity. You can keep things simple for a Small Business Weekend promotion by playing music outside your store or putting up balloons. The goal is to make your store fun, so people will want to stop by independently. 

Serve your customers. 

Have you ever assisted a buddy or family member in moving for the whole day because they offered to purchase your lunch? Or have you ever driven five miles to a  certain coffee shop to use a coupon for free coffee? Shoppers like getting free food.  During this pandemic, use single-serve canisters with lids if you want to give out bagels from a local bakery or other snacks. You can also ask restaurants in your area how they make sure their food is safe. 

Get a billboard. 

Because although digital advertising is the norm now, don't underestimate the power of a billboard. Let's say you don't have enough money for a big billboard. If that's the case, it's fine. You can get the same result by posting flyers in communal spaces, parks, coffee houses, libraries, and supermarkets around the neighborhood. 

Advertise in the newspaper. 

Newspapers are a great way to reach out to people in your area. Use Small Business  Weekend to get the word out and advertise your business in your local paper.  Restaurants, bars, and cafes can use the weekend entertainment section. On the other hand, service providers usually do better if they focus on classified ads. 

Small Business Weekend advertising and marketing 

When it comes to advertising, all businesses can count on it to bring in customers.

Use your current customers as your best marketing tool. 

Positive word of mouth is the best way to sell something. Your happy customers are  the best and biggest way to market your business. Reaching out to current and past customers is a cheap and easy way for a small business to market itself. Please tell them to return to your store and tell their friends about it. A 10% off coupon could be a small incentive if they already like your business. You can show them how to sell your business. 

Contact the news media. 

Getting mentioned in the news may seem like a big job, but local reporters are always looking for new stories. Help them out by getting in touch with them first.  You can ask them to include you on their list of participating businesses, do an interview, or come to your store to broadcast. Assist a Reporter Out (HARO) is another place where you can sign up as a source or an expert in your field. 

Give a special discount. 

Try to think strategically instead of giving a 20% discount on everything in the store.  For example, you could offer a deal to anyone who chooses to follow you on social networks or signs up for your trade journal. 

Work with other businesses. 

Teaming up with other businesses works best if you have a storefront and are close to other small businesses. Try to work with other owners of small businesses to spread the word about Small Business Weekend and get people excited about it.  After all, it is best for everyone if as many individuals as possible go shopping.

How To Participate In Small Business Weekend

Now that the holidays are here, it's time to shop for many people. Many big shopping days are coming up, and our favorite is one of them. This post will discuss how you can spend your money on purpose this holiday season to help small businesses and your local economy. 

How and why Small Business Weekend started 

During the recession of 2010, American Express came up with the ideas of Small  Business Weekend and the Shop Small Movement to get more holiday shopping at small businesses. After the first event went well, the movement started to pick up speed.  

Business owners and local officials promoted Small Business Weekend all over the country. In 2011, the U.S. Senate passed a resolution in support of the day with no votes against it. Also, in 2011, business groups, non-profit trade groups, cities, and public officials came together to form the Small Business Weekend Coalition.  

This group encouraged everyone to shop at small businesses during the weekend.  Nationwide, people jumped in to help their communities by signing up as 

Neighborhood Champions and planning events and activities for Small Business  Weekend and beyond. 

How to Plan for Success in Business This Year 

This year's Small Business Weekend occurs on November 27. Here are some hints to assist your business during and following the big day! 

Before Small Business Weekend 

Make your business known. 

If you haven't already, ensure that the information about your business on the  American Express Shop Small Map is up to date. This map is made to help customers quickly and easily find a list of smaller companies in their area. Putting your biz on this map makes it more visible online and lets Amex Card Members know about it for free through targeted marketing. 

Benefit from exclusive discounts. 

The Shop Small Movement is important to a lot of different groups. This is why  Google, FedEx, Dell, and other companies have special deals for small businesses like yours. You can locate a list of some of these offers, which are meant to help you reach out to customers, compete online, improve operations, and more by clicking here. 

You can get free graphics and change them to fit your window, webpage, or social media pages. 

American Express makes it easy for your business to promote Small Business  Weekend by giving you premade graphics that you can change and use online or in print. The best part is that you can download and use them all for free! Here on the  American Express website, you can change the look of your materials in less than two minutes. 

Plan a kickoff event! 

Holiday shoppers today want to find great gifts, but they also want to have fun while shopping. You can give them what they want by holding a kickoff event for Small  Business Weekend.

This doesn't have to be a big party with live music and catered food. You could do that, but sometimes smaller things feel more personal. Here are some small ideas  that can make people very happy: 

● As people enter the store, offer them small drinks or baked goods.

● Offer a discount depending on the number of customers (e.g., the first 100) or the time of day. 

● Set up an activity in your store that shows how some of your best products or services work. 

● Partner with other smaller firms or charities and feature them in your store.  This is a wonderful way to celebrate the giving season! 

Promote your business to both new and old customers! 

The best way to ensure your business does well during Small Business Weekend is to talk about it everywhere. Use the above-mentioned digital materials on social media to get people to shop at your small company. You can also use this and other materials to make emails about Small Business Weekend. 

During Small Business Weekend Get involved with special events in your area. 

Small Business Weekend is a time to shop locally and support small businesses. It is also a time to help communities grow. Take some time to help out while you and your society are celebrating small businesses. 

If you are putting on your event, you probably won't be able to attend it in person.  Instead, send a shout-out on social media or tell your customers that when they're done at your business, they should go to the home decor store down the street. 

Customers need to be reminded to get their gift cards! 

During the holidays, gift cards are a reduced, high-reward way to make more money for your business. 44% of shoppers say that a gift card makes them want to go to a  store they normally wouldn't.  

And don't forget that people typically spend approximately $59 more than their gift card is worth. Encourage your customers to buy a gift card for a friend, friend,  relative, or themselves before leaving your store or restaurant. 

On this special day, you should stay open later.

Having longer hours is a great way to keep making money during Small Business  Weekend. This is likely to be the busiest day of the year for you. A few additional hours of work could make a big difference in sales. 

Find strategies to keep your employees pumped up and looking forward to the day. 

We've already said that it's likely to be a busy day. That means the team members will be tired and maybe even stressed out. Try your best to ensure everyone enjoys this day. 

During the day, you could give your staff snacks or drinks or even hold a friendly selling competition with a fun prize. The promise of a bonus check or an extra day off can keep your staff motivated and ready for work. 

After Small Business Weekend:

Take a break and pat yourself on the back. 

You did it! Give yourself and your team a chance to get back on your feet. If it was a  very busy weekend, you might want to close on Monday or cut back on hours to allow your team more time to rest. 

Thank your employees and express gratitude for their efforts. 

Small Business Weekend can only be a success if everyone works together. Show your squad how much you enjoy all their hard work in a way that makes sense for them. This could be a handwritten note with a gift card to a coffee shop, a small bag of vacation treats, a free result, or more time off. 

Look at the books and figure out how well the campaign worked. 

Of course, you won't know how well your efforts worked unless you do some analysis.  Take a little time to sit down with your books after the weekend. Watch what proceeded well and what didn't. This can help you figure out your plan for the coming year and give you a starting point for your future work.

"Unlocking Your Dream Home: The Pros and Cons of Rent-to-Own Homes"

Rent-to-own homes are like that intriguing mix of pros and cons you encounter in life. Let's talk about the sunny side first. They open the door to homeownership for folks dealing with credit hiccups or hefty debts. Here's how it works: You sign a lease for a place with the option to buy it down the road, usually spanning several years. During this time, you pay rent, plus a little extra, which often gets squirreled away for your future purchase.

The cool thing? They lock in the purchase price at the start of your lease, so even if the property's value skyrockets, you still get it at the original, lower price. Plus, you get a chance to stash some cash for a down payment – something that can be a real struggle in the world of traditional mortgages. And, perhaps the best part, you get to try the place on for size, just like you would a new pair of shoes. Make sure it's your dream home before you commit to the big purchase.

But, (you knew there was a "but" coming, right?) there are some not-so-rosy aspects to consider. The extra monthly premium can mean a higher overall monthly bill compared to plain old renting. There's a gamble involved because if you don't end up buying the place, you might wave goodbye to that extra premium you've been forking over. Also, the property's value may not jump up like you hoped during your lease, and you could end up paying more than it's currently worth. The lease terms can get pretty complicated, and they're not exactly one-size-fits-all, so you'll need to put on your reading glasses and scrutinize the contract. Lastly, not all landlords play fair, and some might take advantage of your rent-to-own newbie status. To avoid these pitfalls, do your homework, maybe talk to a legal whiz, and make sure your rent-to-own deal is as clear as day.

What Is A Rent-To-Own Home?

A rent-to-own home also called a lease-to-own home, is bought by renting it from the owner. During the time of your lease, some of the rent you pay each month will go toward lowering the price of the house. After that time is up, which is usually between 1 and 5 years, you can choose to buy the home.

When the real estate market is slow and it's hard for people to sell their homes outright, these deals happen more often. They can be a good choice for renters who want to buy their own homes. But lease-to-own deals aren't as popular when it's easier for a seller to sell a home.

Why take the risks of such a rent-to-own agreement when you could get something else? At the end of the lease, the tenant might not be able to get a mortgage, or, in the worst case, they might trash the place and leave the owner with a mess.

Some landlords use a lease-purchase as part of a rent-to-own agreement to avoid more risky outcomes. This makes the renter legally bound to buy the house at the end of the lease. Landlords willing to take on such risks could keep the option to buy the home open instead of making it a requirement.

How does rent-to-own (RTO) work?

Rent-to-own deals start when a buyer and a house owner agree that the purchaser can rent the property for a certain amount of time. Depending on the type of agreement, the buyer must buy the property after that time or has the choice to do so. 

Buyers who sign a rent-to-own contract pay a premium on top of the rent. This premium helps pay for the down payment on the house. Most of the time, this payment cannot be taken back. This gives renters more reason to be sure they want to purchase the property at the end of the lease.

The Renting-to-own process

After the seller agrees to a rent-to-own contract, you'll do the following:

Sign a rent-to-own contract: 

There are two rent-to-own contracts, so you must know what you agree to. Watch out for lease-to-own contracts because you may be legally required to buy the house at the end of the lease, even if you can't afford it.

Agree on a price to buy: 

If you look at similar listings in the neighborhood or nearby neighborhoods, you can get a general idea of what prices are like in the area.

Determine the length of the rental period: 

Most rental agreements last between one and three years. Think about your financial situation and how long it will take you to be able to get a mortgage. If your credit score isn't where it needs to be to get a good interest rate, you might consider renting for a longer time to improve it.

Define maintenance roles: 

Each rent-to-own contract is different, so it's important to get in writing what you, as the renter, will be responsible for. For example, do you only have to take care of the things inside the house, like appliances and other repairs, or do you also have to take care of the lawn and the AC unit?

Rent payments: 

The rent is normally more with a rent-to-own contract than in a typical renting situation. You might be able to alter the amount you pay, but knowing how much your payment will be spent on buying the property is essential.

Find a mortgage lender: 

As the property's rental period ends, you'll need to look for a mortgage just like you would for another home purchase.

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Keep track of: 

Keep copies of checks, bank statements, or other proof of what you have paid to show what you have paid. Your lender may ask for this paperwork.

A rent-to-own contract lets people who want to buy a home move in right away while they save up a down payment or work on their credit. Still, a few things to consider before signing this kind of contract. Before signing a contract, you should always ensure you comprehend what it says.

Pros of Rent-to-Own

Building a down payment over time: 

Instead of saving up cash for a down payment, you may be able to accumulate equity in the home by paying the higher rent over one or more years.

Trying not to compete: 

You won't have to compete with other buyers if you sign a rent-to-own contract.

You need not qualify instantly for a mortgage: 

A rent-to-own contract can be a great option if you need to enhance your credit score or repay the debt before you can save up for just a down payment. It helps you get the house you want and gives you more moments before you start looking for money.

Cons of Rent-to-Own

The option can't be taken back: 

You may have to pay a portion of the home's purchase price upfront if you want to have the choice to purchase it at the end of your lease. Probably, you won't have this money back if you decide not to buy it.

Keeping up with repairs: 

You might have to pay for repairs on a house you don't own yet. You could lose hundreds or even thousands of dollars in a serious situation.

Home value drops: 

If you sign a rent-to-own agreement and your lease is for a long time, you can't know what will happen to the housing market. If the purchase price was based on higher prices than they were now when the contract was made, you could spend more for your home than it's worth. You might want to add a clause that says the appraised value must be at least the agreed-upon sales price.

You could decide differently: 

Things always change. You might have to move because of your job, or you might not be able to get the mortgage you need to buy the house. You can leave as long as you have a lease option. But if your rent goes up, you could lose thousands of dollars you can't get back.

In summary, rent-to-own homes offer a unique opportunity for individuals with credit challenges or substantial debt to venture into homeownership. These arrangements provide time to improve financial standing, lock in purchase prices, and allow for savings toward a down payment. However, they come with the risk of higher monthly costs, potential loss of premiums, and uncertain market value trends. It's crucial to fully understand the lease terms and ensure transparency in the agreement. Ultimately, rent-to-own homes can be a valuable stepping stone to homeownership, but careful consideration and research are essential to navigate the potential pros and cons effectively.

Consider the advantages and disadvantages of the situation carefully before deciding if rent-to-own is correct for you. Do your homework and have the home inspected and valued. Before you sign any papers or pay any money, you should hire a real estate lawyer who can advise you.

How Does Refinancing Work? When Should I Refinance My Mortgage?

Co-authored by:

Raul Hernandez Licensed Mortgage Loan Officer Leading “Competitive Home Lending”

Raul Hernandez is a licensed mortgage loan officer with over 20yrs of mortgage experience, a B.S. in Management and Finance, with a M.S. in Management. Currently, he leads Competitive Home Lending, a mortgage company that originates mortgage loans in Texas and Colorado, with the mission to promote direct-to-consumer wholesale mortgage loans.

When you refinance a loan, you pay off your old loan and get a new one, usually from a different lender. In general, the process is a lot like getting a regular mortgage. When you refinance a mortgage, you get a new loan to pay off your old mortgage. Before you start, you should know how the process works and the pros and cons of mortgage refinancing.

Let us Take a Look:

• Deep Dive with an Expert: Co-Author Raul Hernandez Licensed Mortgage Loan Officer at “Competitive Home Lending”

  • Refinance?

  • How it works

  • Why Refinance?

  • When Should You Refinance?

  • What to Consider Before Deciding to Refinance

  • 3 Major Tips for Shopping for any Home Loan

  • What to Consider During a Housing Market Change

    Tips and Hints
    

• How to Analyze your Situation

• Count the Numbers

• Put in your application.

• Close Your Loan

• Advantages of Refinancing a Mortgage

• Downsides to Refinancing a Mortgage

• Conclusion

Deep Dive with a Motgage Expert:

Co-Author Raul Hernandez Licensed Mortgage Loan Officer at “Competitive Home Lending”

Refinance?

A refinance home loan is traditionally a type of mortgage loan used to adjust the rate and term of an existing loan- known as a rate and term refinance. While a refinance can also be used to consolidate debt or for home improvements, those particular loan types are usually referred to as debt consolidation loans or home equity loans and home improvement loans, or renovation loans. Two main goals of a refinance home loan are to reduce the monthly mortgage payment and to reduce the amount of interest paid on the home loan. Here is how a refinance home loan works, how to get the best rate, and other helpful tips.

How it works

A refinance home loan is similar to a home loan used to purchase a home. The biggest difference is the fact that the borrower already owns the home. Therefore, the loan-to-value (LTV) ratio is based on the homeowner's equity and not based on a down payment.

Best Practices to Ensure if You Should or Shouldn't Refinance

Common reasons to refinance are to change a loan's term or rate with the goal of reducing monthly payments or interest paid over the life of the loan. A homeowner may decide to change a loan term from a 30yr mortgage to a shorter term such as a 20yr or 15yr term. The goal of a change in term is to reduce the amount of time remaining on the existing home loan and pay less interest over the life of the loan. A change in term can also mean refinancing from an adjustable-rate mortgage (ARM) or a balloon payment mortgage. In this situation, the homeowner is realigning the loan term to reduce the risk of increasing rates which would lead to an increase in the monthly payment on an ARM loan or paying a lump-sum balance with the end of a balloon payment's term. Another popular reason to refinance is to get a lower rate.

When Should You Refinance?

As with any refinance boom, it goes without explaining, homeowners should refinance when mortgage rates drop. A refinance is also beneficial when it makes sense to reduce a monthly mortgage payment to maintain a manageable household budget. Extending a loan's term can help reduce the mortgage payment. This is helpful when consumers need a little more flexibility with their discretionary income, or when combining a first and second lien into one mortgage for a lower payment.

What to Consider Before Deciding to Refinance

Closing costs and the breakeven point are two main things to consider before deciding to refinance. A home loan refinance has two costs a consumer must consider. The first is lender fees such as origination fee, underwriting fee, processing fee, etc. These fees can vary from lender to lender, and it is best to find a lender without excessive costs. The second cost to consider is third-party fees such as appraisal fees, title agent and title insurance fee, recording fees, and verification fees. These fees can be estimated prior to committing to a lender or running a credit report. However, these third-party fees should not vary much from lender to lender. An appraisal can be waived under certain circumstances, and title insurance can be discounted based on the age of the current title insurance policy.

3 Major Tips for Shopping for any Home Loan

1. Shop multiple lenders. Data from Fannie Mae states that the majority of borrowers do not shop around for the best home loan.

2. Work with a wholesale mortgage broker. A broker can offer the same products and services as the major lenders but at a lower wholesale rate.

3. Update the shortlist of lenders at the same time. Rates can change from day to day and even intraday. If rates drop, they will drop for every lender; the same goes for rate increases. An outdated quote can cause a borrower to pay a higher rate or even discount points.

What to Consider During a Housing Market Change?

A change in the housing market can affect a refinance in several ways. If housing prices are flat or begin to decline, then the loan-to-value ratio could alter the refinance terms and loan amount. Adjustments to market conditions on the secondary market can increase or decrease refinance rates. However, improvements in market conditions and home prices could offer an incentive for a homeowner to refinance even if their current rate is the same or a bit lower than current rates. An example would be to refinance from an FHA loan where the MI will continue for the life of the loan to a Conventional loan where MI is not required with an LTV of 80% or lower.

Tips and Hints

The best way to find the lowest rate is to avoid a major retail mortgage lender. Wholesale mortgage rates from mortgage brokers are usually lower. Mortgage brokers have the authorization to offer mortgage loans from the nation's best lenders at a wholesale rate. It is still wise to shop between mortgage brokers to get an even lower mortgage rate.

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How to Analyze your situation:

To refinance a mortgage, you must meet the same requirements as a new loan. Lenders will examine various things, including:

• The history of credit and score

• Your loan's past payment history

• What you make and where you've worked

• Equity in the Current home value the home

• Other loans and debts

So, to see if you qualify, you'll need to look at where you stand in these areas. For example, if you have a good income, good credit, and a lot of home equity, you may get a new loan with better terms. If your credit score has dropped since you got your first mortgage or if you have more debt in general, it may be harder to get better terms.

Research: Browse around

Do the preapproval process with more than one mortgage lender to compare interest rates and other terms. This will provide you with the greatest chance of getting the best deal you can get. You should also compare the terms of the refinance offers you're looking at to the terms of the mortgage loan you already have. This can assist you in determining if refinancing is a good idea.

Count the Numbers

Once you've picked the best offer, look at how much you could save and how much it could cost. For instance, if refinancing your loan with such a new lender costs you $5,000 upfront and your new monthly payment are only $100 less than what you were paying before, you'd have to live in the home for at least 50 months for refinancing to be worth it.

If you don't plan to stay in the house for very long, refinancing might not be the best choice. Also, keep an eye out for penalty fees, which can cause problems if you repay your mortgage early or remortgage again.

Put in your application.

When you're ready to send in an official application, you'll do that directly with the lender you choose. You will have to give this information about yourself, your home, and your mortgage loan. You'll also have to show proof for different parts of the application. Potential documents include:

• Recent pay stubs 

• W-2 forms

• Bank statements

• Tax returns

• Statements of income for a business

• Investment account statements

• Details about alimony and child support, if applicable

• Copy of the photo ID you got from the government

• Legal proof of living in the U.S.

• Funding sources

• If needed, a gift letter says you don't have to pay back the money you were given.

ICE Mortgage Technology, a firm that works with lenders, says that this process can take an average of 48 days from the date of the application to the date of the closing. But some lenders say they can close the deal faster.

Close Your Loan

When the lender is prepared to close the loan, you will meet up and sign some papers to make it official. Then, the creditor will pay off your first loan and set up an account for your new loan. If you get a cash-out to refinance, the money will be sent to you by check or bank transfer.

Advantages of Refinancing a Mortgage

Homeowners want to refinance their mortgage loans for several reasons. 

Lower interest rate and payment: 

If your credit has gotten better since you got your first loan or if market rates have gone down, you may be able to keep money on interest by getting a lower rate and monthly payment. This is possible with a loan called a rate-and-term refinance.

Change the type of rate: 

With a rate-and-term refinance, you can also change your loan from having an adjustable rate to having a fixed rate. This can help you avoid the effects of market changes.

Change the length of the loan: 

If you change the length of your loan from, say, 30 years to 20 or 15 years, you can usually get a lower interest rate. If you do this, you can save money on interest over the loan, but you'll probably have to pay more each month. On the other hand, you might be able to lower your monthly payment if you stretch out the length of your loan.

Get cash from your home: 

If you have a lot of equity in the home, you may be able to utilize a cash-out refinance to get some of that equity. Homeowners may do this to pay off debt, make a big purchase, invest, or buy out an ex-spouse during a divorce.

Pay down your balance:

 A cash-in refinance a rare way to pay off your loan. Instead of taking cash out, you will refinance your loan and put cash into it to pay down the balance. You might think about this if your loan is worth less than what you owe or if you want to get rid of private mortgage insurance.

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Downsides to Refinancing a Mortgage

When you think about why you want to refinance your mortgage loan, it's important to consider the risks, such as how they will affect your credit. Here are several things to believe about before you start:

More interest: 

If you extend the loan length, you may pay more interest throughout the new loan.

Chance of getting paid more:

 If you cash out some of your equity, your new mortgage loan will be for a higher amount, which could make your monthly payment go up.

Closing expenses can be expensive:

If you expect to sell your house before you break even on closing fees, it may make sense to keep your present mortgage.

How the market is doing can change your choices: 

You can't be sure that the new loan will have better terms. During times when interest rates are going up, this is especially true.

Affects length of credit history: 

This credit score element, which makes up 15% of your FICO® Score, could take a hit when your old mortgage loan is paid off and replaced with a new one.

Knowing where your credit stands are important when considering applying for a refinance loan. Check your credit score often to ensure you don't get caught off guard by bad or wrong information. If possible, don't take out any new credit before or during refinancing. This can help you get your credit ready for the process and find problems that could affect your approval until the closing.

How To Handle Taxes For First-Time Homeowners

Co-authored by:

Andrew Latham Certified Financial Planner & a Director at SuperMoney.com

Tax season can be the most exciting or anxious time of the year for anyone. It can be a little stressful when you're not ready for something. If you have or are moving into a new home, you might wonder what else you should know.

What you should remember as you prepare for tax season this year:

• Who is considered a first-time homebuyer?

  • Who qualifies as a first-time buyer?

• The current reality of First-time Homeowner Taxes & steps to get Ready: Co-Authored by Andrew Latham of SuperMoney.com

• What is the First-Time Homebuyer Act of 2021?

• What are first-time buyer tax credits?

• How does the $15,000 tax credit for first-time homebuyers operate?

• Take advantage of available tax deductions.

• Conclusion

Who is considered a first-time homebuyer?

It would be best if you met a few conditions to get a first-time homebuyer's tax credit. The credit isn't just for people who may have never bought a home, despite what its name says. If you haven't owned a home or been a cosigner on a mortgage in the last three years, you are considered a first-time homebuyer.

You must meet one of the following requirements to qualify as a first-time buyer:

• Have not owned a house or been a cosigner on a home loan in the past three years

• Be a single parent who only owned a home with a former spouse when they were married. Be a displaced homemaker who only owned a home with a spouse.

• Have only lived in a house that was fixed to a foundation.

• Have only owned a home that doesn't meet state or local building codes and can't be fixed for less than what it would cost to build a permanent structure.

The current reality of First-time Homeowner Taxes & Getting Ready: Co-Authored by Andrew Latham of SuperMoney.com

Buying a home for the first time can be an exciting but overwhelming experience. The tax side of things is pretty straightforward, though. As long as you pay your property taxes, you should be fine. Realtors like to wax poetic on the tax benefits of buying a home, but the truth is most homeowners don't get much nowadays.

The Tax Cuts and Jobs Act (TCJA) reduced the maximum mortgage principal eligible for the tax deduction, removed the personal exemption, and nearly doubled standard deductions. These changes made it pointless for most taxpayers to itemize since they could no longer take both the personal exemption and itemized deductions. In most cases, first-time homebuyers are better off claiming the standard deduction even if they do qualify to itemize the mortgage interest payments.

That doesn't mean buying a house doesn't come with extra tax homework. The first step is to get organized. As soon as you close on your home, gather all of the documents related to your purchase and keep them in a safe place. This includes your mortgage statement, closing statement, property tax bill, and any other related documents.

As a first-time homeowner, you may be eligible for certain tax benefits, such as the mortgage interest deduction and the property tax deduction. However, these deductions don't apply to most homeowners because the vast majority of homeowners are better off claiming the standard deduction. Nevertheless, itemizing does make sense for some homeowners, so do the math and check which option works best for you.

• Keep track of home improvements. If you make any improvements to your home, make sure to keep track of the costs. These improvements can also be tax-deductible, so it's important to have documentation of the costs.

• Keep accurate records. Make sure to keep accurate records of all your expenses related to your home. This will make it easier to claim deductions and credits on your taxes.

• Hire a tax professional. If you're unsure about how to handle your taxes as a first-time homeowner, consider hiring a tax professional to help you navigate the process. Most tax preparation programs, such as TurboTax and TaxAct, are all you need to navigate homeowner tax questions, but in some cases hiring a tax professional can save you a lot of time and money. They can answer any questions you have and ensure that you're taking advantage of all the tax benefits available to you.

What is the First-Time Homebuyer Act of 2021?

Several Democratic lawmakers put forward the First-Time Homebuyer Act of 2021 in response to a campaign promise made by President Joe Biden. This bill would have brought the tax credit first used after the housing crisis in 2008. It would have included many of the same requirements.

Under the new bill, however, eligible homebuyers could get a tax credit of up to 10% of the purchase price of their home, up to a maximum of $15,000. The proposed homeowner tax credit for 2021 is meant to help low-income and middle-income Americans buy homes and build wealth in communities of color that will last for generations. This bill hasn't been signed into law as of December 2022.

What are first-time buyer tax credits?

Tax credits are a method by which the government rewards taxpayers financially for doing certain things or acting in certain ways. When you file their tax return, they directly lower the amount of tax you owe. For instance, if you owed $10,000 in federal taxes and got a $1,000 tax credit, your tax bill would drop to $9,000.

Tax credits are a better way to get people to do something than deductions, which let you lower your taxable income. Deductions lower the amount of taxes you have to pay, but not as much as a credit for the exact amount. People who buy their first home can get credits against their federal income taxes through first-time homebuyer tax credits.

How does the $15,000 tax credit for first-time homebuyers operate?

The first-time homebuyer tax credit in 2021 would work the same way as the one in 2008. Homebuyers who were eligible could get a loan for up to 10% of the purchase price of their home, up to a maximum of $15,000.

Unfortunately, this credit no longer exists. However, bills to create a new refundable tax credit of up to $15,000 for first-time homebuyers were introduced in April 2021. As of March 2023, the legislation still has not passed in Congress.

Even though the original first-time homebuyer credit from 2008 has ended and the First-Time Homebuyer Act of 2021 has not yet been officially passed, there are still some other programs you can glance into as a new homeowner:

Mortgage interest deductions: 

This detailed deduction lets homeowners take any interest they paid on loan for their home and deduct it from their taxable income. You'll need proof this tax season to get the mortgage interest deduction. The lender you used to buy your home will send you a 1098 Form that shows how much interest you paid on your mortgage over the past year.

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Property tax reductions: 

When you buy your first home, paying property taxes can be scary. However, when it's time to file your taxes, you can write off the state and local property taxes you've paid. You can get a tax break for your main home, vacation home, land, cars, and boats.

Home office costs: 

Over the past two years, more people have started working from home. This may have caused your costs for home office supplies to go through the roof. Depending on what you bought, you might be able to get a tax break if you are self-employed or work from home full-time. If you want to save money on your tax return for office costs, your room must be used mostly as an office and be less than 300 square feet.

Conclusion

If the First-Time Homebuyer Act of 2021 becomes law, many Americans with low and middle incomes could get a tax credit for buying a home. Plus, you wouldn't have to pay back the tax credit unless you sold the house in the first four years of owning it.

In the meantime, first-time homebuyers must look into programs like FHA loans, MCCs, and IRA withdrawals that can help them buy a home for less money. If you just bought a home, ensure you understand what costs you can deduct from your taxes. This could help you pay less in taxes.