A recent survey found that one-third of Americans worry about money all the time. Not just a fleeting worry: All. The. Time. The number one fear of survey respondents was living paycheck to paycheck. It’s a harsh reality for many entrepreneurs who may not even have much of a paycheck to begin with. But, OPEN Forum writer Rieva Lesonsky says, this fear is a perfect motivator:
Use your fear to motivate planning a big-picture future, with your eyes on developing enough cash flow to retire or at least step back a bit from your business some day. This requires making your business less dependent on you—which not only makes it more salable in the distant future but also helps it grow in the meantime.
Read on to learn how you can stop money from keeping you up at night on OPEN Forum.
Fun fact: School fundraisers are a $1.4 billion industry. (We know, we’re as surprised as you are.)
So it stands to reason that school fundraisers—a business model in its own way—can be a good resource for business owners who have sales goals they want to hit, writes OPEN Forum contributor Geoff Williams. There are indeed a few lessons you can pick up from studying school fundraisers’ success:
1. Set a goal. “School fundraisers don’t usually last long,” Williams writes. “While you can’t restrict your sales period to several weeks, you can set short-term goals, which are likely to get you where you want to be faster than an open-ended mission.”
Read on for three more things you can learn from school fundraisers.
Apparently, Americans will do almost anything to keep their furry (and not-so-furry) friends happy, healthy and pampered.
Read on for more weird pet economy facts.
You guys. 1,200 new businesses a day? That’s up from an average of 740 a day in 2013! This is just one of the many statistics that have us excited about the state of women entrepreneurs:
For more insights into the State of Women-Owned Businesses, read our report.
1. Not keeping an eye on cash flow.
2. Investing too much in product or infrastructure ahead of sales.
3. Appearing too successful.
4. Over promising and under delivering.
5. Not paying payroll or other business taxes when they are due.
Read five more ways you could be endangering your company’s finances on OPEN Forum.