The ACFE (Association of Certified Fraud Examiners) Global Fraud Study revealed that businesses experience an estimated 5% loss of their annual revenue due to fraudulent activities, resulting in a staggering global total of around $3.7 trillion in losses.

This report emphasizes the critical importance of implementing robust preventive measures and maintaining constant vigilance to protect against fraud.

Aside from financial losses, fraud has various unanticipated consequences. These include reduced productivity, decreased employee morale, negative impacts on brand reputation, and tarnished corporate image due to unethical behavior from both employees and employers.

You’re fortunate! Even though fraud statistics are concerning, there’s still an opportunity to equip yourself with the most up-to-date information and take proactive steps to protect your business. Remaining well-informed will allow you to effectively prevent, identify, and address potential instances of fraud. It’s vital to understand the various forms of workplace fraud and how to implement strong controls in vulnerable areas of your organization.

Small Businesses Suffer Bigger Monetary Losses

Although both small and large businesses fall victim to fraud, it’s crucial to be aware that the Association of Certified Fraud Examiners (ACFE) has definitively determined that businesses with fewer than 100 employees are at a significantly higher risk compared to larger companies. This information underscores the importance of staying vigilant. Bigger companies are well-equipped with anti-fraud measures like internal audits, hotlines, and employee fraud training to ensure integrity and security. Smaller companies are less likely to implement anti-fraud measures to detect fraud at an earlier stage.

Fraud Creating a Monetary Impact on Businesses

The ACFE has reported that cybercrime and identity theft, including credit card abuse, are the most common types of fraud in small businesses. Unfortunately, small companies suffer a bigger financial hit due to unscrupulous business behavior.

ACFE’s statistics reveal that corruption cases and asset misappropriation caused significant business losses. Financial statement fraud caused the most monetary damage, with a median of $1 million.

Another source of trouble for businesses is workers’ compensation fraud. According to the NICB (National Insurance Crime Bureau), workers’ compensation accounts for an estimated 25% of the $7.2 billion annual insurance fraud. If the business can review bookkeeping records, they might be able to calculate their business’s fraud statistics specifically.

Battling Fraud in Your Business

Extensive research demonstrates that fraud is pervasive across all industries, regardless of employer size or geographic location. It is absolutely essential to proactively take steps to prevent and minimize the negative impact of fraudulent activities.

CFE fraud experts assert that implementing anti-fraud regulations is instrumental in reducing monetary losses and the duration of fraud schemes. Decreased duration of fraud is imperative, as the longer it persists, the greater the financial damage it can cause a business.

Best Practices for Detecting and Preventing Fraud

These are the proven practices that are highly effective in detecting and preventing fraud in businesses:

1. Establishment of an anti-fraud hotline
2. Implementation of a code of conduct and an anti-fraud policy
3. Provision of fraud training and management review procedures for executives, employees, and managers
4. Execution of surprise inspections
5. Arrangement of external inspections of internal controls utilized in financial reporting
6. Utilization of systems that actively analyze and monitor company data

It is imperative to implement and rigorously monitor anti-fraud measures, as not all of these processes are equally effective. According to the ACFE, a significant 42% of fraud cases were successfully detected through hotlines, while a mere 3% were identified through external audits out of the 80% of reported fraud cases. Suppose you are uncertain about which anti-fraud measures to implement in your business. In that case, seeking advice from an anti-fraud consultant, a fraud examiner, or an auditor is advisable to determine the most effective approach for your business.

Conclusion

The key is to be attentive to both preventing and addressing fraud. Some business owners believe it won’t happen to them and often need to pay more attention to this aspect due to their many tasks and concerns. It’s important to tackle fraud early in the business to prevent it from becoming a major problem.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Insurance companies play a vital role in fostering economic development by providing risk management solutions that allow businesses to operate confidently. This provides businesses the ability to manage financial risks by offering coverage for unexpected events like natural disasters, accidents, and liability claims. This support enables businesses to stay resilient and focused on growth. This, in turn, encourages entrepreneurship and investment, as businesses can pursue opportunities with greater assurance. Additionally, insurance companies contribute to economic stability by promoting resilience in the face of adversity, which is essential for sustainable growth and development. It’s indisputable that investing thousands of dollars in an insurance company may only yield a legitimate return if a claim is filed. Still, it’s hard to think of another industry that affects the economy more than these insurance companies. Without the insurance industry’s presence, the economy will likely be at a standstill. So, the question is, how do these insurance companies affect the economy?

Insurance is indispensable for shielding businesses from unforeseen risks and enhancing their appeal to potential investors. Additionally, insurance companies provide coverage for a wide range of needs.

Obtaining Financing

A person cannot buy a home, obtain a loan, buy a car, boat, or even an airplane without proof of insurance. Business owners and other entrepreneurs can only purchase a building or any other commercial equipment or even invest in their business with the proper proof of insurance. Loan givers will only lend with insurance simply because it’s too risky.

A business cannot expand without proper finances, and when a business fails to expand, it can’t offer job openings. This may also lead to the firing of a few older employees. Without jobs, consumers don’t have enough money to spend, and the economy decays.  With time, employees’ quality of life suffers due to decreased income.

Expanding Business

Whether it’s about introducing a new product, recruiting a new sales agreement, or purchasing a new company, the business needs assurance that the other party is conducting business in good faith. Insurance provides the necessary protection in case the business does not proceed as planned. Insurance is also vital for protecting the employer while assuring an Income to the employer during an event that may put them out for work. Insurance companies pay around three hundred billion dollars annually for claims and policy benefits. This amount ensures business recovery and losses, whether it’s the loss of property, lawsuit, or family member loss. These funds given by insurance companies allow people to rebuild their lives after a tragedy or an accident. Insurance isn’t only crucial for a business to continue its operations but can also be used to protect intellectual property, etc.

Funding Development

These premium insurance companies invest funds that are not used to pay claims / operating expenses. Such insurance companies often invest in bonds that will finance big private and public projects. Some of their investments, including retail development, apartment buildings, and similar projects, include stocks, as the increase in stock prices benefits all investors.

The International Association of Insurance Supervisors (IAIS) stated that insurance companies offer vital input to banks’ financial reliability and, more generally, financial steadiness by investing in bonds and other stuff issued by financial institutions. Brokers also allot money to the economy by buying debt securities of industrial companies or through real estate investments.

Paying Taxes

Insurance corporations, along with their staff, pay taxes. The taxes help fund government programs that help needy people contribute to education and maintain and expand the infrastructure. Insurance companies don’t receive any tax benefits over any other business; therefore, tax contributions could be substantial.

The examples provided above clearly demonstrate the crucial role that insurance companies play in driving economic prosperity. It’s indisputable that insurance companies have a profound impact on the success of the economy. This positive economic influence underscores the significance of purchasing insurance—not only does it provide peace of mind for yourself, but it also actively contributes to the overall growth and strength of the economy. Your decision to purchase insurance truly makes a meaningful difference in our economic landscape.

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

We can point out countless reasons you should be swift about setting up an accounting system for your freshly started business. Your business requires an accounting system to keep its financial records in check. Being aware of your company’s finances, investments, revenue generated, and sales will allow you to calculate its asset value.

The asset value of the account would assist you in uncovering the worth of your business, which would allow you to maneuver around when making essential decisions strategically.

For this sole purpose, businesses require bookkeeping services to take care of the financial records while the business owner hustles to compete in the market.

You must choose the appropriate bookkeeping services to avoid any inconvenience later on. But before we get into the dos and don’ts of bookkeeping services, let us give you a brief rundown of what bookkeeping services are.

What are Bookkeeping Services?

Bookkeeping services refer to the act of keeping the financial record of a business straight.

Bookkeepers keep all the financial data around the business stored in these accounting journals.

When you acquire the help of someone else to cater to this job, you are looking for services from someone else. There are a lot of professionals in the market posing as bookkeepers, but you cannot just dive into it without checking a few things out first.

Are They Trustworthy?

Trustworthiness is the most critical trait you should look for in a bookkeeper.

One cannot simply trust a random stranger with the financial data of their business. God forbid this data falls into the wrong hands and your business crumbles. The importance of this position to your company’s success means you need to see some credentials before hiring this professional. Always ask for a referral from a reliable source. This referral would serve as evidence to support the authenticity of the person you are hiring.

Are They Keen on Working?

Accounts and financial records are just areas you never want to mess up. If the company’s accounting system is in shambles, chances are, so is the business. It is easier to keep your books in order from the beginning than to fix inaccurate books. It is always suggested to keep the business’s financial data straight before it gets messed up beyond the point of return.

If you hire a bookkeeper who is doing it for money and does not respect the job, stay 50 feet away from them and fire them immediately.

A bookkeeper who is not keen on working and paying attention to precise details will mess up accounting journals.

Are They Using the Correct Bookkeeping Software?

Bookkeeping software assists bookkeepers in handling financial data. It eases the bookkeeper’s job, which means the better the software, the more accurate the data curated.

Always ensure that the software the potential bookkeeper of your business is using is up-to-date; this will translate to you having wrinkle-free data for your business.

Do They Understand Your Business?

While interviewing someone for the job, make sure you ask them a few questions regarding the industry in which you conduct business. It would help if you also asked a few questions about the particulars of your business.

If the bookkeeper does not understand your business, how can they help you make the right decisions regarding the company’s finances?

Hire a bookkeeper who understands the complexities of your field and is willing to help in every way possible.

Are They Professional?

While reviewing their curriculum vitae, consider their experience as bookkeepers. The listings on the CV could help you determine whether they are good at their jobs.

Always ensure that you hire a professional for the job to avoid inconvenience later on, which will likely come knocking on your doorstep if you don’t heed their professionalism.

You should ask these five questions when shortlisting candidates to hire. Once you are content with the answers you are receiving, know that that choice is perfect for your business.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Every entrepreneur must be willing to challenge the paradigms. A successful business builds if you maintain the mentality of an employee. The work dynamics are different.

Being excellent in everything you do can be incredibly useful, but hustling is the key to business success.

Do not plunge into the venture thinking you will earn more by working less. You will be disappointed at the beginning. Before quitting your job, develop an entrepreneurial mind to face the challenges you will encounter along the way.

Here, I show you the paradigms of the mentality of an employee versus that of an entrepreneur.

Comfort and Security vs. Freedom and Independence

You get a secure income with a job. You will receive a payment every fifteen or thirty days. There you have it, regular and stable money. To undertake is to dare to jump into uncertainty. Your salary will now depend on you.

The freedom and independence that having your own business gives you is an opportunity to discover your full potential. A boss or contract will no longer limit your income. They depend on your commitment to your business.

Find Boss vs. Look for Clients

Suppose you maintain the employee mentality when undertaking. What will happen? You will see your clients as someone to whom you must subordinate yourself. Then, they will have your time, and they will define how much they will pay you.

Did you see what happened? You returned to the model you wanted to escape. Again, you are under someone else’s orders, with a work schedule and a salary imposed by them.

Change your focus. Instead of working for companies and people, you collaborate with companies and people. This will give you autonomy. Please do not sacrifice your health or allow them to belittle your value to secure a client. You establish the working conditions.

Work on What You Must Monetize Your Passions

The best entrepreneur is the one who knows that their ideas, passions, abilities, and talents can cause an impact and an improvement in the world. Instead of seeing work to survive, he sees it as how he fulfills his life purpose.

Take advantage of that. Nobody is going to tell you what to do next. Start in a category of products or services that excites you. Develop your projects as a contribution to improving the living conditions of your customers.

Sell Your Time vs. Add Value

Customers are not interested in the time it takes you to prepare a product or service and deliver it. They want your work to contribute value to their lives.

Study what your potential clients want or need. Then, build a value proposition of what you offer them. They will be willing to pay the price if they feel your product or service supplies the value they seek.

Work for Hours vs. Work for Goals and Objectives

Useful resource management involves more than time and money. How you use your energy will also determine how long it will take to reach your goals.

Prioritize: learn to discern between the urgent and the important. The point is that you are sure that the tasks to which you are dedicating your energy are the ones that help you achieve your goals.

Success in undertaking does not come from the number of hours you have worked. It defines the results you have obtained. Set goals and objectives that guide your actions. Be clear about the difference between being busy and being productive.

Save to Spend vs. to Invest

Success is not in making money but in knowing how to manage it. The worst thing you can do is spend your business income as soon as you get it.

You must invest in your business to grow. While you are taking your first steps, your business’s needs will be above your desires. Know other things you should never do with your money.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Creative Ways to Raise Money for Your Next Project

Ways to raise money for your next project include hosting unique events, leveraging digital fundraising tools, and tapping into your personal and professional networks—proven methods blend creativity, community engagement, and smart planning to maximize your results.

I’ve spent over 20 years as CEO of Complete Controller working with businesses across every sector imaginable, and I’ve witnessed firsthand how creative fundraising separates thriving ventures from those stuck spinning their wheels. The global crowdfunding market alone has grown from $17.72 billion in 2024 to $20.46 billion in 2025—a 15.5% surge that signals just how hungry people are for innovative funding approaches. In this article, you’ll discover battle-tested strategies that go beyond tired bake sales and car washes, learning how to craft memorable experiences, harness digital platforms effectively, and build sustainable revenue streams that fund not just your next project, but your entire vision.

What are creative ways to raise money for your next project?

• Host unique events, leverage digital tools, and engage your community to raise funds creatively
• Successful fundraising efforts combine originality with planning and clear goals
• Creative fundraising taps into everyday networks—from social media to community spaces—to generate excitement and support
• Choosing the right fundraising method depends on your project scope, audience, and resources
• Sustainable fundraising involves following up, showing gratitude, and keeping supporters informed

Unforgettable Events: Turning Experiences Into Cash

In-person and virtual events can dramatically increase engagement and attract donations, making them among the most creative ways to raise money. Consider this: 51% of nonprofits hosting in-person or hybrid events met their fundraising goals, compared to only 9% of those that didn’t host any events.

Themed social gatherings

Events like virtual paint-and-sip nights, plant-and-sip workshops, or gallery showings attract attendees, foster connection, and drive support through entry fees, auctions, and supplementary donations. These fundraising ideas work because they offer value beyond the donation—participants get an experience, learn something new, and connect with others who share their interests. For your creative project, consider what unique experience you could offer that aligns with your mission while providing genuine entertainment value.

Entertainment with impact

Community performances, murder mystery dinners, and pop-up concerts leverage the appeal of live entertainment to collect entry fees, host live-streamed events, or incorporate silent auctions. The key lies in creating moments people want to share on social media, expanding your reach organically. One successful approach involves partnering with local talent who believe in your cause—they get exposure, you get entertainment, and everyone wins.

Digital Fundraising: Modern Tools for Maximum Reach

Harnessing digital platforms is now one of the most impactful ways to raise money—opening up your project to a broader audience. The numbers speak volumes: Kickstarter maintains a 41.98% success rate as of January 2025, proving that well-executed digital campaigns deliver results.

Crowdfunding success strategies

Platforms like Kickstarter, Indiegogo, or GoFundMe help you reach hundreds or thousands of potential donors. Success hinges on three elements:

• Compelling storytelling that connects emotionally with your audience
• Professional visuals, including videos that show your project in action
• Regular updates that keep backers engaged throughout the campaign

GoFundMe’s own growth story offers inspiration—by implementing strategic digital marketing and creative testing, they achieved an 868% increase in social ad-generated fundraisers.

Peer-to-peer & social media campaigns

Approximately 39% of Americans have donated because a friend or family member asked, with peer-to-peer fundraisers averaging $244 per participant. These campaigns work by empowering supporters to fundraise on your behalf through personal networks and social posts, multiplying your reach with minimal effort. Create shareable content, provide easy-to-use templates, and celebrate your fundraisers publicly to maintain momentum.

Tapping Your Network: Tried-and-True Approaches Reimagined

Personal outreach remains a timeless and powerful way to raise money—put a creative spin on classic methods for even greater impact. Email continues to inspire 33% of donors to give, making it the most effective communication channel ahead of social media at 29%.

The power of the phone-a-thon

Phone-a-thons might sound old-school, but they deliver results when executed properly. Organize call nights with team members using tailored scripts to personally ask for support. The personal touch matters—hearing a real person explain why your project matters creates connections that digital-only approaches often miss. Schedule calls during early evening hours, keep conversations brief and focused, and always follow up with a thank-you email summarizing your discussion.

Sponsorships, matching gifts, and partnerships

Corporate partnerships amplify your fundraising power exponentially. Statistics show 84% of donors are more likely to give when matching gifts are available, with one in three willing to increase their donation size. Approach businesses that align with your project’s values and offer multiple sponsorship tiers:

• Bronze level: Logo placement and social media mentions
• Silver level: Speaking opportunities at events plus bronze benefits
• Gold level: Naming rights, featured partnership status, plus all benefits

Create a professional sponsorship packet outlining benefits, audience demographics, and expected reach to close deals effectively.

Creative Campaigns: Stand-Out Ideas That Spark Action

People respond to memorable experiences and interactive campaigns—these creative ways to raise money can make your project unforgettable. The most successful fun fundraising ideas blend entertainment with purpose, creating win-win scenarios for participants and your cause.

Interactive fundraisers

Quirky events boost participation and encourage giving in a lighthearted setting. Popular options for school fundraisers and community groups include:

• Envelope walls where donors choose mystery envelopes containing different donation amounts
• Pie-in-the-face contests where community leaders volunteer as targets
• Duct-tape challenges where officials get taped to walls after reaching fundraising milestones

These events generate social media buzz, attract local media coverage, and create lasting memories that strengthen community bonds.

Product-based fundraising

Selling unique items, artworks, or experiences that tie directly to your project or community values creates tangible connections between donors and your cause. Consider these approaches:

1. Local craft fairs featuring handmade items from community artisans
2. Used book sales with donated inventory from supporters
3. Engraved brick campaigns offering permanent recognition at your facility
4. Custom merchandise designed specifically for your campaign

Price items strategically to maximize both participation and revenue, offering multiple price points to accommodate different budgets.

Fundraising Roadmap: From Idea to Execution

Your fundraising success depends not just on the idea but on execution—here’s a founder’s guide to launching your project based on two decades of experience helping businesses navigate financial challenges.

Planning, promotion, and measurement

Start by defining crystal-clear goals, budgets, and timelines. A multichannel campaign that integrated digital ads, email engagement, and direct mail storytelling achieved 58% revenue growth year-over-year by following this structured approach:

• Set specific targets: “Raise $10,000 by March 31st” beats “raise money for our project”
• Budget realistically: Allocate 15-20% of expected revenue for promotional costs
• Create a timeline: Work backward from your deadline, scheduling key milestones
• Promote early and often: Launch campaigns 6-8 weeks before deadline
• Track everything: Monitor which channels drive donations and adjust accordingly

Email campaigns generate an average of $58 per 1,000 messages sent, making them cost-effective promotional tools when used strategically.

Showing gratitude and building loyalty

Thank donors within 48 hours of receiving their gift—this simple act dramatically increases retention rates. Effective gratitude strategies include:

• Personalized thank-you videos from team members
• Impact reports showing exactly how funds were used
• Behind-the-scenes updates throughout your project
• Public recognition (with permission) in newsletters and social media
• Exclusive previews or early access to project outcomes

Building these relationships transforms one-time donors into lifelong supporters who champion your cause within their own networks.

Beyond the Norm: Fundraising With Impact, Not Just Income

Most fundraising articles stop at listing events. What truly moves the needle is integrating mission and community—turning your fundraising into a movement that outlasts any single campaign.

Making fundraising a shared mission

Build volunteer teams where everyone has meaningful roles, not just tasks. Celebrate every milestone together, from reaching 25% of your goal to securing your first corporate sponsor. Use personal stories and project videos to deepen donor connections—people give to people, not causes. Host live Q&A sessions where potential donors can ask questions directly, building trust through transparency.

Sustainable fundraising for long-term projects

Think beyond your immediate needs by establishing systems that generate ongoing support:

• Monthly giving programs that provide predictable revenue streams
• Annual fundraising events that become community traditions
• Membership tiers offering exclusive benefits for sustained support
• Legacy giving options for supporters who want lasting impact

Monthly giving programs show particularly strong results, climbing 11% annually and comprising 28% of online contributions at an average of $24 per gift.

Final Thoughts

As someone who’s built Complete Controller from the ground up—often fundraising for new ventures along the way—my biggest lesson is this: the best ways to raise money are those that foster connection, inspire creativity, and treat contributors as true partners in your vision. Start with bold ideas, follow through with genuine gratitude, and you’ll not only fund your project but grow a community behind your vision.

The landscape of fundraising has evolved dramatically, but the fundamentals remain unchanged: people support causes they believe in, led by people they trust. Whether you’re launching a tech startup, funding a community mural, or expanding your nonprofit’s reach, these strategies provide a roadmap to success.

Ready to elevate your fundraising efforts and gain the financial clarity you need to scale? Visit Complete Controller for personalized guidance and bookkeeping solutions built for your next great idea. Our team has helped thousands of businesses optimize their financial operations while pursuing ambitious growth—let us help you turn your fundraising success into sustainable business growth.

Frequently Asked Questions About Ways to Raise Money

What are the most creative ways to raise money?

Hosting themed events, leveraging crowdfunding, peer-to-peer campaigns, and selling unique products remain the most effective and creative strategies. The key is combining multiple approaches—for instance, hosting an in-person event while running a digital campaign amplifies your reach and impact.

How can I organize a successful fundraising event?

Start with a compelling idea that aligns with your mission, recruit volunteers early, plan logistics at least 8 weeks in advance, promote widely across multiple channels (especially email and social media), and provide transparent updates for supporters throughout the process.

Which online platforms are best for fundraising?

Platforms like Kickstarter, GoFundMe, and Indiegogo are popular for creative projects. Kickstarter maintains a 41.98% success rate and works best for defined projects with clear outcomes. GoFundMe excels for cause-based fundraising, while social campaigns perform well on Facebook and Instagram, where visual storytelling drives engagement.

Is it better to get business sponsors or individual donors?

Both are valuable and serve different purposes. Business sponsors often provide larger contributions and can offer matching gift programs that inspire 84% of donors to give more. Individual donors typically offer loyalty and recurring support, with monthly donors contributing an average of $24 per gift over extended periods.

What’s the best way to thank supporters?

Send personalized thank-you notes within 48 hours, share specific impact reports showing how funds were used, spotlight donors in updates (with permission), and offer exclusive project previews or tokens of appreciation. The goal is making donors feel like partners in your success, not just ATMs.

Sources

• CauseVox. (2023). “200 Incredible Fundraising Ideas Proven To Raise Money Fast.” https://www.causevox.com/
• Funds2Orgs. (2023). “100+ Amazing and Unique Fundraising Ideas for Everyone.” https://www.funds2orgs.org/
• Double the Donation. (2023). “200+ Amazing Fundraising Ideas to Help You Reach Your Goals.” https://doublethedonation.com/
• OpenGrants. (2023). “10 Creative Ways to Raise Money for Your Cause.” https://opengrants.io/10-creative-ways-to-raise-money-for-your-cause/
• Fundly. (2024). “18 Fundraising Ideas for Creative Projects.” https://fundly.com/
• GrantWatch. (2023). “10 Creative Ways Nonprofit Raise Money.” https://www.grantwatch.com/
• Metric Theory. “GoFundMe | User Acquisition – Case Studies.” https://metrictheory.com/clients/case-studies/gofundme/
• Double the Donation. (2025). “Nonprofit Fundraising Statistics to Boost Results in 2025.” https://doublethedonation.com/nonprofit-fundraising-statistics/

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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The best way to avoid debt is by managing your expenditures. It varies across the battle. Inadequate funds management sounds nasty, but having a plan that fits your place is essential. Not following simple rules can quickly accumulate debt. You need to develop specific money management methods to get your finances in order. Budgeting is an essential part of savings; you become aware of your unnecessary expenses and minimize them quickly through the budget.

Create a Budget

There are various ways to create a budget, such as online apps and software or spreadsheets. Make your budget monthly and revise it every two to three months. This will help you determine how much you are spending on your income. Create a realistic budget and commit to sticking to it. The budget will assist you in minimizing expenditures while maximizing your savings.

Restrict Your Discretionary Expenses

Start by listing what you need the most. Prioritize your expenditure from most important to least important. Focus on your fixed expenses, such as house rent, utility bills, car payments, electricity bills, food, and other household supplies. These are costs set that you must pay at any price. After listing fixed expenditures, they go towards discretionary ones, including unnecessary shopping for clothes or other items, dining out, and entertainment. Restrict your impulse buying. By doing a listing, you will be aware of how much money is subtracted from your income.

Full Debt Payment 

Use your credit card to purchase those items, which you can pay off in full when you get your debt bill. Don’t be habitual in using maximum out-of-credit cards and giving the minimum payments. If you can’t pay back the account by the due date, they will charge high interest rates, which means you are spending more than you have.

Reasonable Rental Payments

Don’t burden yourself with enormous housing costs. Keep your rental payment or mortgage affordable. It only saddles those options as an obligation that you can manage easily. The generic rule is that mortgage payments should be one-third or one-fourth of your monthly income. For instance, if any person earns $3,500 a month, they can pay $1,000 or less rent quickly.

Take Adequate Auto, Home, and Health Insurance 

Make sure that you have adequate home and automobile insurance. Without proper insurance, you must pay significant bills. For instance, if any major car incident happens and you don’t have adequate insurance, it will cut the cost of damages and repairs from your income. Similarly, make sure to have sufficient health coverage from insurance all the time. Medical bills are costly, and a simple test will cost hundreds of dollars. You have adequate insurance to secure yourself from expensive medical bills.

Solicit anybody off the top of their head to reveal to you the amount they make a month, and even though they most likely won’t let you know, inside, they know. The contrast between pay and costs: the vast majority realize their entire month-to-month income; however, they have less information on their total costs. In any case, the fact is to make sense of your final costs and take that from your all-out pay for the referring month.

Numerous individuals don’t have the foggiest idea about the aggregate sum of costs they produce on some random month. This is an issue; however, there is a simple answer to it. For one month, monitor all your costs. Take all your receipts, look at your bank proclamations, and include the entirety of your costs. Make sure to monitor expenses paid with cash, just as you do with credit cards.

Always invest wisely. Prudent investments are sound. However, avoid investing in products that promise a high rate of returns, such as speculative deals and junk bonds. The reason is that high-return offers are extremely risky. Don’t guarantee or co-sign an obligation for anyone else. Because if that individual doesn’t pay, you become responsible for the payment. These are a few ways in which you can control your expenditure easily.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Venturing into the vast cosmos of investments can feel akin to embarking on an interstellar odyssey. Much like the universe, the investment landscape is ever-expanding, filled with incredible opportunities, but not without its share of black holes. Before you set your spaceship to warp speed, there are critical elements to comprehend that can make your voyage both exhilarating and profitable.

Understanding Risk vs. Reward: The Galactic Balancing Act

At the heart of every investment decision lies the balance between risk and reward. Understanding that every investment carries some level of risk, it’s important to note that the potential for rewards varies significantly. Adhering to the Risk/Reward Principle, investments with higher risks usually offer the potential for higher returns. However, this also means a greater chance of encountering a financial supernova. The key is to discover your comfort level in this balance and create a portfolio that matches your risk tolerance while reaching for the stars.

The Power of Compound Interest: The Eighth Wonder of the World

Compound interest was famously referred to as the eighth wonder of the world by Albert Einstein. According to him, “He who understands it earns it; he who doesn’t pays it.” Compound interest refers to the process of calculating interest on the initial principal amount as well as on the accumulated interest. This cosmic phenomenon has the power to significantly amplify your wealth over time, making it an investor’s best friend. For instance, a mere $5,000 invested annually at an 8% interest rate can grow to over $1.1 million in 50 years. The earlier you start investing, the more potent this force becomes.

Diversification: The Space Fleet Formation

In the world of investing, it’s important to avoid putting all your money in one place. It’s like going into battle with just one ship. Diversification involves spreading investments across different assets (e.g. stocks, bonds, real estate), industries, and locations to protect and grow wealth. This proven strategy effectively reduces risk by allowing losses in one investment to be counterbalanced by gains in others. Historical data demonstrates that investors who diversify their portfolios tend to see more consistent and stable returns over time.

The Market’s Infinite Cycle: Learning the Rhythms of the Cosmos

The financial markets are continuously fluctuating, driven by an infinite cycle of economic booms and recessions, much like the cyclical nature of stars being born, living, and dying. Understanding that the market has natural periods of ascent and descent will help you remain calm during volatile times. Interestingly, a study by J.P. Morgan found that from 1988 to 2017, if you missed the stock market’s best ten days per decade, your returns would be significantly less than if you had remained invested throughout.

The Impact of Global Events: Asteroids in the Investment Universe

Global events, like geopolitical conflicts, pandemics, or economic crises, have immediate and profound effects on the investment landscape. For example, the outbreak of the COVID-19 pandemic swiftly and drastically led to a nearly 34% drop in the S&P 500 within a month, significantly impacting global stock markets in early 2020. However, history has shown that markets tend to recover over time. The S&P 500 not only rebounded but reached new highs within a few months, showcasing the resilience of markets against global shocks.

Patience and Long-Term Vision: The Voyager’s Virtue

Investing is not a quick path to becoming rich. It is a journey that demands patience, discipline, and a long-term perspective. Building wealth takes time, and the most successful investors are those who view their investments as decades-long commitments rather than short-term gambles. Warren Buffett, known as one of the greatest investors of all time, strongly believes in taking a long-term investment approach. He is famous for saying, “The stock market is a device for transferring money from the impatient to the patient.”

Mind-Blowing Investment Facts That Will Leave You Starstruck

• If you had invested $1,000 in Amazon’s IPO in 1997, your investment would be worth over $1.7 million today.
• As of 2021, the total global stock market capitalization exceeded $95 trillion, more than the Gross World Product (GWP).
• In 1957, the average holding period for a stock was around 8 years; by 2020, it plummeted to just a few months.
• Cryptocurrencies, once considered a mere digital curiosity, achieved a peak market capitalization of over $2 trillion in 2021.

Summary

As you buckle into the cockpit of your state-of-the-art spaceship and meticulously review your investment portfolio in anticipation of the impending launch, it’s imperative to bear in mind that a wealth of knowledge, meticulous preparation, and strategic foresight are invaluable assets in this boundless and electrifying cosmos. Equipped with these essential tools, you transform into more than just a mere spacefarer – you become a shrewd investor navigating a trajectory through the infinite expanse of opportunities that the universe presents.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In the world of small businesses, navigating through financial challenges is akin to sailing in unpredictable waters. One of the most common issues businesses face revolves around payroll – ensuring employees are paid adequately and on time. However, behind payroll problems often lurk more profound issues related to cash flow. Let’s dissect how you can determine if your payroll woes are indeed symptoms of cash flow concerns and explore ways to resolve these issues.

First, let’s grasp the essence of the issue. Cash flow, in the simplest terms, represents the movement of money in and out of your business. It’s the lifeblood that keeps the business alive, covering all expenses, including payroll. Payroll problems can manifest as delayed payments, incomplete payments, or the constant struggle to meet payroll expenses. When these issues persist, it’s a red flag indicating deeper financial troubles, often related to cash flow.

Here’s how you can diagnose and address these challenges:

Analyzing Cash Flow

Begin by examining your cash flow statements comprehensively. These documents offer a clear picture of your financial health, showing the cash that flows into and out of your business over a specific period. Look for patterns or periods where outflows significantly exceed inflows. These are critical times when payroll issues are most likely to occur.

Understanding the Cash Conversion Cycle (CCC)

Your Cash Conversion Cycle (CCC) is a metric that illustrates how long it takes for an investment in inventory to turn into cash. A shorter CCC indicates a healthy, more liquid business capable of easily covering its expenses, including payroll. Analyze your CCC to understand if poor cash flow management or inefficiencies in converting sales into cash might be the root cause of your payroll problems.

Forecasting Cash Flow

Effective cash flow forecasting can act as your business’s navigation system. By accurately projecting the cash that will come in and go out of your business, you can anticipate and prepare for potential payroll issues before they arise. Utilize forecasting tools or software to help predict future financial conditions based on past and current data.

Tips for Resolving Cash Flow and Payroll Problems

• Boosting cash inflows

Accelerate your receivables by following up on invoices promptly or offering early payment incentives to customers. This process brings cash into your business faster, ensuring funds are available for payroll and other expenses.

• Managing outflows

Review and possibly defer non-essential expenses. To conserve cash in the short term, consider negotiating with suppliers for longer payment terms.

• Securing financing

For immediate cash flow issues, exploring financing options such as a line of credit or short-term loans can provide the necessary funds to cover payroll. However, this should be approached with caution to avoid accumulating unsustainable debt.

Small Business Facts and Statistics

Understanding industry trends and statistics can offer additional context as you navigate your business’s financial challenges. According to the U.S. Small Business Administration, small businesses account for 99.9% of all US businesses, highlighting the sector’s significance in the economy. Yet, cash flow issues pose a significant threat, with 82% of businesses failing due to poor cash flow management, as reported by a U.S. Bank study.

Furthermore, a survey by the National Federation of Independent Business found that 32% of small business owners cited managing cash flow as their top challenge. This statistic emphasizes the prevalence of cash flow concerns among small businesses and underscores the importance of proactive financial management.

In conclusion, understanding the intricate relationship between cash flow and payroll is crucial for the health of your small business. By diagnosing whether payroll problems are indeed symptoms of broader cash flow issues, you can implement strategies to not only remedy these challenges but also fortify your business’s financial foundation. Remember, in the ever-challenging entrepreneurial journey, effective cash flow management can make the difference between merely surviving and thriving. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Starting a company is akin to embarking on a thrilling yet perilous adventure. Filled with highs and lows, this journey tests one’s mettle, creativity, and resilience. However, for those who dare to dream, the taste of success is sweet indeed. But what stands between these intrepid entrepreneurs and their ultimate goal? Let’s delve into the top obstacles for startup companies, peppered with practical advice for overcoming them, and sprinkle in some enlightening small business facts.

Financing: The Eternal Struggle

Perhaps the most daunting of the challenges is securing adequate funding. Startups often require significant upfront capital to get off the ground, yet convincing investors to part with their money is no small feat. A staggering fact: According to the U.S. Small Business Administration, over 29% of startups fail due to a lack of cash flow.

Overcoming the hurdle

• Bootstrapping: Start as lean as possible, using your resources.
• Crowdfunding: Platforms like Kickstarter offer a novel way to raise funds while validating your idea.
• Angel Investors and Venture Capital: Focus on networking. A compelling pitch and a solid business plan are your best friends.

Market Fit: The Quest for Relevance

Another monumental task is ensuring your product or service fills an actual need in the market. It’s all too common for startups to develop solutions in search of problems, leading to disappointing sales.

Overcoming the hurdle

• Customer Research: Engage potential customers early and often. Feedback is golden.
• Pivot when Necessary: Be willing to adjust your offering based on what your market research tells you.

Talent Acquisition and Retention: Building Your Dream Team

A startup’s success heavily depends on the strength of its team. Yet, attracting and keeping the right talent is incredibly challenging, especially when competing with the allure of big, established companies.

Overcoming the hurdle

• Offer Equity: Compensate for potentially lower salaries with startup equity.
• Cultivate Culture: Create a working environment where creativity thrives, and employees feel valued.

Regulation and Compliance: Navigating the Legal Maze

Startups, especially those in sectors like fintech or healthtech, may find themselves bogged down by complex regulatory environments. The cost of compliance can be high, and the penalties for missteps are higher.

Overcoming the hurdle

• Legal Expertise: Invest in good legal counsel early to navigate these waters smoothly.
• Stay Informed: Regulatory landscapes can change. Keeping abreast of these changes can give your startup a competitive edge.

Scale: Growing Pains

Once a startup has found its feet, the next challenge is scaling. Growing too quickly can be just as fatal as not growing at all. A startling statistic reveals that 74% of high-growth internet startups fail due to premature scaling.

Overcoming the hurdle

• Calculated Growth: Scale in response to demand, not in anticipation of it.
• Infrastructure: Invest in technology and processes that grow with you, avoiding bottlenecks.

Customer Acquisition: Breaking Through the Noise

In today’s digital age, gaining visibility and attracting customers amidst the cacophony of online content can seem insurmountable.

Overcoming the hurdle

• Leverage Social Media: Build an authentic voice and engage genuinely with your community.
• SEO and Content Marketing: Invest in strategies that help you rank higher in search engine results.

Small Business Facts to Keep You Inspired

• Small businesses make up 99.9% of all U.S. businesses. That’s a whole world of entrepreneurs facing similar challenges!
• In 2020, 4.4 million new business applications were filed in the U.S. — the highest number on record.
• Small businesses have generated 64% of new jobs in the U.S. over the past 15 years.

 

Facing these obstacles head-on with determination, creativity, and resourcefulness is the mark of a true entrepreneur. Remember, the most spectacular successes often come from overcoming the greatest challenges. So here’s to your startup journey, may it be fraught with obstacles, for each one presents an opportunity to excel.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In the fast-paced world of business, achieving growth is not just a goal but a necessity to stay competitive and relevant. As businesses aim for faster growth, there’s an increasing dependency on accounting software, which has proven to be an invaluable asset for managing finances more efficiently and accurately. This article delves into why businesses, especially small ones, are turning towards accounting software and how this tool aids in achieving their growth targets more effectively.

Reasons for the Growing Dependency on Accounting Software

Time efficiency

Time is a premium commodity in any business. Traditional accounting methods are not only time-consuming but also prone to human error. Accounting software automates most of the mundane tasks, such as data entry and computation, freeing up valuable time that can be invested in strategic planning and growth initiatives.

Cost reduction

Hiring a full-time accountant or an accounting team is often a significant expense that small businesses may struggle to afford. Accounting software, on the other hand, is a one-time investment that can handle multiple financial processes at a fraction of the cost, directly impacting the bottom line positively.

Real-time financial insights

In an era of immediate gratification, real-time financial data is a game-changer. Accounting software delivers up-to-the-minute financial reports and analyses, empowering business owners to make swift, well-informed decisions. This capability to promptly react to financial insights can determine the success of capitalizing on a growth opportunity or missing out.

Scalability

As a business expands, managing its financial operations becomes more intricate. Using accounting software allows for seamless scaling to handle increased transactions, entities, and multiple currencies, making it an ideal ally for growth.

Compliance and accuracy

Navigating the complex web of tax regulations and compliance standards can be daunting. Accounting software is continually updated to reflect the latest tax laws, ensuring that businesses remain compliant. Moreover, the accuracy it brings to financial records and reports minimizes the risk of costly accounting mistakes.

Facts Enforcing the Use of Accounting Software in Small Businesses

• Improved cash flow management

According to a survey, 82% of small businesses that use accounting software have reported an improvement in their cash flow management. This is critical for the survival and growth of any business, as it directly influences their ability to invest in expansion efforts.

• Data-driven decisions

A staggering 78% of small businesses feel more confident in making financial decisions with the insights provided by accounting software. This confidence stems from having accurate financial data at their fingertips, enabling them to identify trends, opportunities, and areas of improvement.

• Increased productivity

The automation of accounting tasks has also led to a profound increase in productivity. Reports suggest that businesses using accounting software can cut down the time spent on financial management by up to 80%, allowing more focus on strategic growth activities.

• Enhanced collaboration

Modern accounting software often comes with cloud-based capabilities, allowing team members to access financial data from anywhere at any time. This fosters better collaboration among team members and with financial advisors or accountants, making it easier to align on growth strategies.

• Customer satisfaction

Surprisingly, the use of accounting software also impacts customer satisfaction. With quicker invoicing, accurate billing, and efficient financial management, businesses can offer a better customer experience, indirectly supporting growth through customer retention and acquisition.

Conclusion

The growing dependency on accounting software to achieve faster growth is not just a trend but a reflection of the evolving business landscape. In a world where efficiency, accuracy, and strategic decision-making are paramount, accounting software emerges as a critical tool for businesses aiming for rapid growth. Small businesses, in particular, find accounting software a powerful ally that levels the playing field, allowing them to compete more effectively and secure their place in the market.

By embracing modern financial management tools, businesses can not only optimize their operations but also pave the way for sustainable growth and success. In this era of technological advancement, accounting software is not just an option; it’s a strategic necessity for any business determined to thrive and expand. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.