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Most entrepreneurs and business owners understand they need a comprehensive communications strategy to reach their target customers. However, all too many think that only means branding, marketing and advertising and forget to include public relations (PR). In particular, many small businesses and startups neglect this part of the communications equation.

This has always been a mistake, but that’s even more true today. Here, I explain how PR impacts brand credibility and customer trust, as well as how those seemingly ineffable factors connect to your hard revenue numbers.

The problem with investing solely in marketing

Investing only in marketing and ignoring PR is a problem because marketing drives awareness, but PR builds trust — and without trust, awareness doesn’t convert.

One study has put the number of consumers who believe advertisers have integrity at 4%. Customers’ trust in conventional advertising is also plummeting, especially for members of the younger generations. As Wharton Magazine reports, 84% of millennials not only dislike traditional ads but also distrust them.

Research also shows people don’t pay attention to ads and actively avoid them. According to consumer research firm Bulbshare, 63% of Gen Zers use ad blockers, meaning they don’t even see ads online. If they do come across one, 99% say they hit “skip” when given the choice.

In short, today’s consumers are savvy. They know how to follow the money trail and identify conflicts of interest. Indeed, the Content Marketing Institute has found that 80% of corporate decision-makers prefer to glean information from articles that are more objective rather than ads, which are recognized as biased and self-interested.

Meanwhile, today’s consumers increasingly prioritize ethics. B2B services company BusinessDasher explains that 84% of customers weigh companies’ ethics and values when considering a purchase, and 63% say they would like companies to adopt more ethical practices.

For companies that would like to expand their market reach, these statistics send a clear signal. Investing only in advertising and marketing is unlikely to move the needle. To develop a good reputation for your brand, you need to do PR.

Related: How to Make the Most of Your Public Relations

PR: Ethical strategic communications

PR differs from other communication strategies like branding and marketing because it specifically focuses on developing your organization’s positive reputation and earning consumers’ trust. While ads and marketing campaigns may attempt to tell people about the business’s great reputation, good PR shows them. It enables the business and its spokespeople to demonstrate ethical conduct rather than just making claims to this effect.

For instance, while a top PR team will draft and release press releases and media advisories on a company’s behalf, they will also seek out opportunities for the company’s leadership to serve as expert sources in the media. When the public needs help understanding current events and a journalist turns to a company’s spokesperson for expert analysis, the viewers understand that this person and their company are trustworthy. In addition, they come to rely on and appreciate the spokesperson’s valuable advice.

In the course of such an interview, the company’s representative may never even mention their product or service. By demonstrating their willingness to share important information, however, they signal their care for the greater good, their own sterling character and that of their company. This forms positive connotations in viewers’ minds. People come to associate the spokesperson and company with credibility and garner their trust.

Behaving in an ethical manner and showing goodwill tends to be more convincing than merely claiming to be good. This is how strong connections with customers can still be forged despite today’s cynical environment.

Related: How You Can Leverage These PR Strategies to Build Your Company’s Credibility and Trust — Even When Under Attack

How PR contributes to revenue growth

To be clear, PR is not a direct method of boosting sales or generating leads. Instead, it works in the background, burnishing your brand’s reputation and predisposing people to think highly of your company. This can pay off in the end, however.

Take Sears, Roebuck and Co. as an example. When the brand partnered with The Oprah Winfrey Show to provide Christmas gifts for 100 foster children, the results were staggering. After the episode aired, customer surveys showed an 11% jump in positive sentiment toward the brand — and people said they planned to spend 39% more at Sears.

The final impact? That single PR moment helped generate $13 million in new revenue.

In addition, father-daughter co-authors Al and Laura Ries studied 91 launches of new products in their book “The Fall of Advertising and the Rise of PR.” Those campaigns that incorporated PR were more successful than those that only deployed marketing approaches. Indeed, they conclude that PR is a better investment than advertising for most businesses.

In my own experience leading a PR firm, I can attest that campaigns sometimes generate so much new business that clients can’t scale fast enough and have to pause our services while they catch up with demand.

Enter the limelight with PR

Hiring a PR firm, especially one that can show a track record of success in your particular industry, is indispensable to make your brand image shine. This strategic communications approach avoids the common missteps of advertising and marketing while aligning with today’s customers’ preferences for ethical business practices.

For these reasons, more businesses should consider taking PR firms up on their offers of a free consultation call. There’s nothing to lose and the limelight to gain.

As the cost of rent has increased by more than 50% over the last decade, some popular cities like Miami are becoming less and less affordable.

To find the most affordable cities for renting in the U.S., financial site WalletHub compared the median annual gross rent to the median household income in 182 cities, ranking them from most to least affordable.

Related: Here’s How Much a Family of 4 Needs to Live ‘Comfortably’ in Every U.S. State, According to a New Report

The most affordable city was Bismarck, North Dakota, where the median annual gross rent is around 15.3% of the median annual income. The average salary in Bismarck is $69,989 per year, according to ZipRecruiter. The average rent, meanwhile, is $1,023 per month, per Apartments.com.

The second most affordable city was Sioux Falls, South Dakota. The mean annual gross rent there costs around 16% of the median income. Cheyenne, Wyoming, came in at a close No. 3 — residents spend 16.1% of their earnings on rent in the city.

Cedar Rapids, Iowa, and Fargo, North Dakota, rounded out the top five most affordable.

The bottom of the list featured Glendale, California (No. 178), followed by Detroit, Michigan; New Haven, Connecticut; Newark, New Jersey; and finally, in the last spot (No. 182), Miami, Florida, where residents spend 33.48% of their income on rent.

In Miami, the average salary, according to ZipRecruiter, is $55,183. The average rent is $2,950, per Zillow.

“In the most affordable cities for renters, the median cost of rent is as low as 15% of the median income, compared to more than 33% in the most expensive cities,” said WalletHub Analyst Chip Lupo. “This gives people in the least expensive cities a clear financial advantage; the money they save on rent could go toward their emergency fund or savings for future home ownership.”

View the full list of all 182 cities, here.

Related: Here Are the Best and Worst States for Retirement in 2025, According to a New Report

Universal is opening its long-awaited Epic Universe theme park to the public on May 22 in Orlando, Florida. The park was first announced in 2019 and cost around $7 billion to create, per CNBC.

Casandra Matej, CEO of Visit Orlando, told CNBC the new park is “the first major, entirely new theme park in the U.S. in 25 years.” Research seen by the outlet from Sean Snaith, director of the University of Central Florida’s Institute for Economic Forecasting, found that within one year of opening, the new park could generate around $2 billion for Florida and create more than 17,500 new jobs across the country.

At 750 acres, it’s the largest of all of Universal’s properties and features five themed worlds: Celestial Park, Dark Universe, The Wizarding World of Harry Potter – Ministry of Magic, Super Nintendo World, and How to Train Your Dragon – Isle of Berk.

But don’t worry, Harry Potter fans: This is the third Harry Potter-related theme park Universal has in the area. Nearby, Explore Hogsmeade is still open at Universal Islands of Adventure, and Diagon Alley is also open at Universal Studios Florida.

Related: Disney World Is Adding New Attractions and Themed Lands in a Massive Expansion — Here’s What to Expect

^{In Super Nintendo World, guests with Power-Up Bands can hit the familiar question-mark boxes of the Mario universe, track their Mario Kart score and play drums like Donkey Kong to unveil hidden effects and Easter eggs. (Adrian Ruhi/Miami Herald/Tribune News Service via Getty Images)}

Although Epic Universe is less than 10 miles down the road from Walt Disney World, industry experts expect the new park to lift up the entire area, from hotels to restaurants to even more attendance at Disney-branded parks.

“It’s a rising tide that lifts all boats,” Matej said.

There are multiple roller coasters, restaurants, and three new hotels. There are also several boat rides.

^{Guests ride Stardust Racers, a new dueling roller coaster ride in Celestial Park, during a preview day for Universal Epic Universe on April 5, 2025, in Orlando, Florida. (Patrick Connolly/Orlando Sentinel/Tribune News Service via Getty Images)}

^{The How to Train Your Dragon – Isle of Berk area, at the Epic Universe theme park in Orlando, Florida, US, on Saturday, April 5, 2025. Photographer: Thomas Simonetti/Bloomberg via Getty Images}

^{Atlantic is a waterside, seafood-centric restaurant with a mostly glass exterior meant to resemble a giant aquarium. (Adrian Ruhi/Miami Herald/Tribune News Service via Getty Images)}

Picture this: A young couple working tirelessly to support their family, only to find themselves one unexpected medical bill away from financial ruin. Across the globe, stories like theirs are becoming alarmingly common as financial systems fail to keep pace with today’s economic realities.

From the U.S. facing a $50 trillion savings gap to Europe’s aging population and China’s hidden inequities, the message is clear: We are woefully unprepared for the financial challenges of the future. But where systems falter, businesses can rise. The question is: Will they?

Related: Report: 57% of Americans Cannot Afford a $1,000 Emergency Expense

The problem: Hundreds of trillions of global savings are missing

Globally, financial systems leave individuals, businesses and governments vulnerable to growing economic instability. In the U.S. alone, a $50 trillion savings gap leaves millions without the financial security they need for retirement, emergencies or education. Without action, this gap will continue to grow, forcing many to rely on short-term fixes like high-interest debt instead of building long-term financial stability.

And this is not just a U.S. issue. Europe is grappling with an aging population and outdated systems that can no longer support fiscal resilience. In China, a culture of high savings masks glaring inequities in access to scalable, reliable financial solutions. The challenges may differ across regions, but the root problem remains the same: Savings systems everywhere are outdated and unable to meet the demands of today’s economy.

Governments alone cannot solve this. With fiscal pressures mounting and systemic reform slow-moving, the private sector must step in. This call to action was a central theme at the World Economic Forum in Davos, where I joined industry leaders to explore how businesses can help close the savings gap. The conclusion was clear: Businesses are uniquely positioned to strengthen financial resilience for employees — and in doing so, they can drive long-term stability for both their organizations and society at large.

The savings gap is not just an economic challenge; it’s an opportunity for leadership. The question is no longer whether businesses should act, but how quickly they will rise to the occasion.

From a culture of debt to a culture of savings

Despite advancements in technology, savings and retirement systems remain complex, outdated and inaccessible — particularly for low-income and underserved workers. Today, high-interest debt is easier to access than structured savings programs, creating cycles of financial instability and making it harder for employees to build long-term resilience. Without access to workplace-backed savings options, many workers are forced to rely on credit to cover emergencies, perpetuating financial insecurity.

Employers as change agents

Employers are uniquely positioned to address this challenge. They not only have the ability to provide access to savings mechanisms but also the power to influence financial habits by embedding savings tools into employees’ daily lives. Financial stress is a major threat to business performance: According to Financial Finesse’s Workplace Financial Wellness in America report, 76% of financially stressed employees report a negative impact on their productivity.

However, employers who integrate savings programs into workplace benefits see measurable gains. Research from the National Fund for Workforce Solutions shows companies offering holistic financial wellness programs experience a 43% increase in employee engagement and a 40% boost in productivity — both driven by reduced financial stress. Furthermore, employees with access to structured savings programs are less reliant on high-interest debt, creating a cycle of financial stability rather than insecurity.

This is where employers can make a tangible difference. One of the most effective tools employers can implement is emergency savings accounts, which provide employees with quick, penalty-free access to funds when unexpected expenses arise. Yet, despite their clear benefits, only 21% of companies offer ESAs, even though 60% of employees want them.

Related: 8 in 10 Employees Live Paycheck to Paycheck — How You Can Help Them Break the Cycle

Lessons from the 401(k) revolution

The adoption of 401(k) plans in the United States demonstrates the impact employers can have on financial behavior. As of 2024, 70% of private-sector employees have access to these plans, an increase of 10% over the past decade, driven by initiatives like automatic enrollment and increased matching contributions. While progress has been significant in retirement savings, a comparable effort is now urgently needed for short-term financial security, including emergency savings solutions.

By integrating tools like ESAs into their benefits offerings, businesses can help employees build resilience against unexpected financial shocks. This is not only a win for workers but also for businesses, as financially secure employees are healthier, more focused and more productive.

A clear path forward for employers

Employers can take three immediate steps to address the savings gap and foster financial wellness for their employees:

1. Implement Emergency Savings Accounts (ESAs):

ESAs provide employees with penalty-free access to funds for unexpected expenses. Despite their clear benefits, only 21% of companies currently offer ESAs, though 60% of employees express a desire for them. Employers should prioritize integrating ESAs as a cornerstone of their financial wellness programs.

2. Expand savings accessibility through automation:

Automatic enrollment and contributions have proven effective in increasing participation in 401(k) retirement savings programs. A similar approach can be applied to short-term savings solutions, where employees are automatically enrolled in savings plans with the option to opt out. This encourages participation and builds habits of financial discipline.

3. Broaden financial education:

Financial literacy is critical to empowering employees to make sound decisions about saving and spending. Employers can offer workshops, digital tools and personalized financial counseling to equip workers with the knowledge they need to manage their finances effectively.

A collaborative effort

While employers are a critical link in closing the savings gap, they can’t solve the problem alone. The Employee Benefits Research Institute suggests that governments must take action through smart regulation and incentives that encourage businesses to offer workplace savings programs.

That’s why events like the World Economic Forum matter — where large private businesses and financial institutions come face-to-face with startups doing things differently, and policymakers that are engaged, to explore solutions at the intersection of public and private sector responsibility. We need more global forums that drive collective action and hold leaders accountable for addressing financial insecurity at scale, but the real challenge is ensuring that solutions don’t just exist in theory but are actively implemented where they’re needed most.

Large-scale discussions alone aren’t enough. Real change happens when those are combined with action at the local level, meeting people where they are — through workplace initiatives, community programs and policies that directly impact individuals’ financial lives.

Public-private partnerships are already proving that scalable savings solutions work. Collaborations between financial institutions and employers have led to higher participation in savings programs and better financial well-being for workers. But there is still a long way to go.

Related: 3 Reasons Employers Should Focus on Employee Financial Well-being

The savings gap isn’t just a looming crisis; it’s a call to action. For businesses, the responsibility to address this challenge goes beyond ethical obligation; it’s a competitive advantage. Financially secure employees are more engaged, productive and invested in their work. But beyond profits and performance, businesses have the opportunity to lead a cultural shift — from a society burdened by debt to one built on savings and stability.

It’s time for business leaders to take bold steps and foster a future where financial wellness is the standard, not a privilege. Together — with governments, financial institutions and communities — we can close the gap, strengthen resilience and ensure that every individual has the tools to build a brighter financial future. The future of savings starts now, and it starts with us.

The stock market just took a historic nosedive, with the Dow Jones plunging 1,500 points in a single day at the time of writing this. Panic? Sure, for those already invested. But for newbies, it’s a flashing neon sign that says “Buy low.” The only problem? Most people don’t know what to buy.

That’s where an OpenAI-powered stock picker is stepping in—not just to track the chaos but to help first-time investors find stocks worth paying attention to while they’re still down. Sterling Stock Picker is currently $68.99 for a lifetime subscription, down from $486.

Invest in the market with help from AI

Sterling Stock Picker was designed to help regular people make informed investment decisions without getting lost in confusing charts or financial jargon. The app starts by learning about your goals and risk tolerance through a quick five-minute questionnaire. Then, it shows you stock picks tailored to your personal investment profile.

What makes this tool different from browsing Reddit threads or Googling “best stocks to buy“? The recommendations are calculated based on your input, with guidance from a built-in AI financial assistant named Finley. Ask it anything, from what P/E ratio means to which stocks align with your goals, and you’ll get a straightforward answer powered by OpenAI.

Once you’re up and running, you can check in on your portfolio, explore detailed stock analyses, or let the AI walk you through the next steps. For those who want more than just hot tips, Sterling also offers educational insights and community features to help you level up over time.

Right now, a Sterling Stock Picker lifetime subscription is $68.99. That’s a fraction of what you’d pay for a single session with a human advisor.

Sterling Stock Picker: Lifetime Subscription – $68.99

See Deal

StackSocial prices subject to change.

The trend of modern software requiring a constant paid subscription has hit businesses hard. When you need apps like Word, Excel, and PowerPoint on every computer in your office, that usually means paying subscription fees across the board. It adds up, and you’re never done paying. The alternative is to make a larger investment on day one to avoid the constant cost later on.

Microsoft Office 2024 has a lifetime license with no recurring payments. It comes with many of the same apps as Microsoft 365, but you only have to pay $129.97 (reg. $149) one time for PC or Macs.

No more subscription fees

This license comes with lifetime access to

• Word
• Excel
• PowerPoint
• OneNote

The 2024 version adds some smart upgrades, too. There’s co-authoring built into Word, Excel, and PowerPoint, so teams can work together in real-time, even from different locations. It also uses AI to assist with tasks like writing, formatting, and data analysis. Think smart compose in Word, dynamic arrays in Excel, and captioned presentation recording in PowerPoint—all designed to help your team work faster and more efficiently.

Unlike Microsoft 365, this version doesn’t require a subscription or auto-renewal. It’s tied to your Microsoft account, not a physical device, so you’ll still get important updates and won’t need to worry about recurring charges. And since it works on both Macs and PCs, it’s flexible enough for any kind of office setup.

Why this deal is worth it

Software subscriptions aren’t a viable option for businesses that are trying to cut costs. Instead of paying monthly indefinitely, now you can get Microsoft Office 2024 and get many of the same apps for life with no recurring cost.

Get Microsoft Office 2024 Home for Mac or PC on sale for $129.97.

Microsoft Office 2024 Home for Mac or PC: One-Time Purchase – $129.97

See Deal

StackSocial prices subject to change.

Generating leads for property management or real estate investment purposes can be difficult. Whether you are looking for new clients, tenants or investors, it can be hard to get new eyes and interest for your business.

When thinking about how to get property management leads, it’s important to consider who you want to target. What demographic do you see being most interested in your services? Who is most present in your community? Figure out where those people hang out, what media they consume and whether your service is necessary for them prior to deciding your marketing methods.

Once you’ve decided who your target demographic is, use the following tips and tools to tailor your marketing strategies and garner as many leads as you can.

What are some useful strategies to increase your potential for new property management leads? Here are a few to get you started.

Related: 5 Tips for Marketing Your Real Estate Business and Reaching More Clients

Client referrals

If you are confident that the services you’ve provided in the past are exceptional, client referrals may be your best bet when finding new leads. Referrals build your network by helping get your business’s name out there — people who use and enjoy your service will naturally tell their friends and family about you.

Although happy clients will naturally tell their close circle about your service, a good way to facilitate the client referral process is to get in touch with real estate agents whom you’ve worked with in the past. You can refer your current clients to them for sales or propose a referral fee if they happen to mention your company to property owners or other real estate investors.

Social media

Social media marketing is the 21st-century way of advertising. Many companies have already hopped on the social media marketing bandwagon, so why shouldn’t you?

LinkedIn:

If you are in the real estate business, chances are you’ve used LinkedIn before. LinkedIn lets you post content about your business and curate your brand’s image for other professionals who are using the site to find work, post updates about their own business or find potential clients themselves.

LinkedIn has a wide reach. You have the potential to reach hundreds, potentially thousands, of other investors with a free LinkedIn account. When setting up your account, emphasize content that showcases the benefits of working with your real estate company and the difference that you can make in their lives. Network with people you have worked with in the past who can endorse certain skills you emphasize and add legitimacy to your posts, since they can comment and like the post.

Podcasts:

Podcasts are a form of media that has gained a lot of traction in recent years. Whether people listen while driving, exercising or completing other tasks, podcasts get many Americans through their day-to-day.

Podcasts are surprisingly simple. Although creating a podcast and garnering an audience may take a little longer than it would on other platforms, giving yourself episode after episode of offering wisdom and helpful tips can not only generate new leads but can also help you find other professionals to network and collaborate with.

Other social media platforms:

Use platforms like TikTok, Facebook or X to promote your services. These platforms work best when you post consistently — if you have the time, create short clips or videos that show off the best aspects of your company. If you don’t have time, look into hiring a social media coordinator to facilitate your social media marketing strategy. These professionals are more likely to understand the trends and nuances that each platform has and help you bring in quality leads.

Posting on these platforms is quick, easy and free. Although you can post a wide variety of things on your account, it’s a good idea to show off appealing photos and videos with trending and relevant hashtags.

Related: 4 Ways Real-Estate Pros Get Leads from Digital Marketing

SEO

Search Engine Optimization (SEO) is a way to rank higher on search engines like Google, Bing or Yahoo, reaching searchers who are interested in your business.

Try including relevant keywords in your website’s posts to have a better SEO ranking and get closer to the first page of results when a potential lead searches a relevant keyword.

There are various courses and professionals who can assist with your SEO methods. Learning how to use SEO to your advantage is not difficult, but it could take a few instances of trial and error to get it right.

Get in the community

The best organic marketing method is to get involved in your community. There are usually events going on in neighborhoods that can help you get your name out there — farmers markets, high school football games and other community events may present opportunities to advertise to the people who are most likely to benefit from your services.

Reach out to other professionals you see advertising in your area to learn the best ways to get involved.

Generating leads is a vital part of any business, but it’s especially vital in real estate. Keep your standard of service high so that whatever marketing methods you use to generate leads initially, those customers you garner will tell their friends and family. Using these tips will help your real estate business continue to grow.

Related: 7 Tips for Closing More Deals and Ramping Up Your Real Estate Business

When I started my first business, I had everything going for me. To be sure, I was terrified, but I was also young and full of grit and determination. Being confident that you’ll succeed is sometimes half the battle — so is having the courage to work hard, and being raised on a farm in Idaho toughened me early. As a child I was entrusted on a daily basis with responsibilities that would daunt many adults.

I also knew my industry. I’d put myself partway through college working for an electric sign company, and now I was founding one of my own. Basically, I convinced myself that these two factors — a diehard work ethic and expertise in the work involved — would carry the day. Don’t get me wrong — they’re vastly important qualities, and no entrepreneur will succeed without them.

But I soon discovered what every new business owner will learn eventually: preparing for every setback is impossible. There will always be a surprise waiting in the wings to steal the spotlight at the worst possible moment.

Related: What Is a Good Credit Score and How Do I Get One?

What I learned the hard way

My business did pretty well out of the gate, so I figured financing would be a cinch. I was wrong. I got turned down for an SBA loan within a month of hanging out my shingle. Adding insult to injury, the idea of receiving good-faith credit from vendors was laughable.

Who was I, after all? The world is full of hard-working kids with big ideas, and you can bet that whatever business you’re in, there will be plenty of established companies that can provide the same service faster and better. With no financing or credit to draw on, I was forced to pay for every expense with precious cash out of my own frequently empty pocket.

When I was an employee of a sign company, cash flow seemed to take care of itself. Being a boss was a whole different story. There was no one to take care of it but me, and finding the cash to pay for every expense on the fly became a nightmare. No matter how well the business did, I stayed cash poor. On any given day, I’d have literally hundreds of thousands of dollars owed to me in accounts receivable, but zero in the bank to pay accounts payable.

I’ll never forget the sleepless nights; the stress headaches; the dark fantasies wherein I was unable to make payroll, unable to pay rent. And this is the chief thing they never tell you: a new business owner can be killing it on paper and still spend his nights pacing the floor.

What I did to fix the problem

The vendors who turned me down didn’t dislike me personally. The SBA didn’t deny my loan application because the government disapproves of Idahoans. My difficulties were owed to one thing and one thing only: I had no credit history. I’d been taught from childhood that debt of any kind is an objective evil, and I’d never applied for so much as a credit card.

I’d paid for all my adolescent needs, including automobiles, in cash. The consequences were beautifully ironic: what I’d once done ignorantly but voluntarily, I was now forced to do. Potential lenders had no way of knowing whether I was the type of client who paid his bills. Credit bureaus had no clue I existed.

My career didn’t take off until I faced this difficulty head-on and took deliberate steps toward building flawless personal and business credit history. It wasn’t easy, but it didn’t take long to realize that achieving good credit scores is more a matter of developing good habits than reinventing the wheel; though reliable information was much harder to come by back then, I hustled and did my homework and eventually mastered the topic.

Related: 5 Simple Ways to Improve Your Credit Score and Help Your Business

In today’s world, no fledgling business owner has an excuse for ignorance about the basic building blocks of finance. The internet is a treasure trove of clear, energetic advice regarding how to improve your credit and reputation simultaneously. Alongside the internet, businesses are devoted to helping business owners understand and access their credit data. It’s not much of an exaggeration to say that in the old days, I’d have cut off a finger to access the wonderful services and tools that most of us now take for granted.

The rewards for capitalizing on such blessings are real. Take a look at some of the advantages of an impressive credit score — tell me they don’t coincide with what you already assume are fundamental steps to fruitful entrepreneurialism:

• Borrowing money: A good credit score can help business owners get loans at a lower interest rate with better terms.
• Trade credit: Trade credit allows business owners to grow their inventory without paying immediately, which is ideal for cash flow.
• Lines of credit: Speaking of cash flow, lines of credit can keep the pipes well-lubricated during the crises, major and minor, that ensure that running a business is never boring.
• Insurance: A solid credit score can mean lower insurance rates and better coverage.
• Lease rates: Similarly, business owners with great credit can get far better lease rates on must-haves like equipment, office space and work vehicles.
• Customers: An impressive credit score is essential for building a business-like reputation. Large companies and government entities require a minimum business credit score to award contracts to smaller enterprises.
• Relationships: Business is all about relationships, and a high credit score will go a long way towards convincing future suppliers and business relationships that you are the real deal.
• Payment processing: Strong business scores mean a better discount rate on merchant processing fees.

The list goes on, and the perks evolve, but the message is as steadfast as if written in stone. Without robust credit scores, a small business will never do any heavy lifting, much less hope to survive in one of the most competitive arenas known to humankind.

Are you ready to break into a unique and thriving entertainment industry? An iSmash Rage Room Franchise offers an exciting opportunity to own a business that combines three proven concepts under one roof: Rage Rooms, Splatter Paint Rooms, and Axe Throwing.

Why iSmash stands out:

• Unique business model with multiple revenue streams
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As an iSmash franchisee, you’ll benefit from;

• A proven business model
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• The potential for excellent profit margins

With an average net profit of $197,783 per store in 2024, iSmash offers a smashing opportunity for growth.

There’s a great deal of innovation and invention happening at any given time. Entrepreneurs like you and I are constantly working on ideas that can help shape new products, solutions, methods and more across many industries. For anyone developing intellectual property (IP), it’s important to understand the impact that patenting your work can have.

At their most basic, patents are an exclusive right granted by a “sovereign authority” to an inventor for their inventions. IP patents are essential for protecting innovations and maintaining a competitive edge, no matter the type of patent you seek. Patents provide a legal framework to prevent others from copying your ideas, which safeguards your investment in research and development in the long term.

An innovator can own more than one patent in more than one industry. For example, I have been fortunate to secure patents across a range of industries, including biotechnology, clean beauty, nanotechnology, environmental science, and sustainable fashion. Each of these industries reflects my commitment to innovation and creating solutions that benefit both people and the planet. Patents such as mine enhance entrepreneurial credibility, attract investors and open doors for strategic partnerships. They also serve as valuable assets that can be licensed or used as leverage in negotiations, adding long-term value to any business.

Before you can get right into filing a patent for your IP, you’ll need to start the patent process from the beginning. This includes determining what patents are worth pursuing and building a successful application for each of your inventions.

Related: 5 Ways to Improve Your Chances of Getting Patents

Determine what patents to pursue

Like any innovator, you undoubtedly have several innovations that you believe are worth pursuing a patent for. And while filing for multiple patents at once is doable, the first step to patent success is to take a step back and determine what specific patents to pursue on what timeline. This process can be overwhelming, especially if you have more than a handful of innovations you want to consider. But deciding which patents to pursue comes down to evaluating three key factors: market impact, uniqueness and scalability.

Focus on whether your innovation addresses a specific, high-impact problem, as this ensures it has practical value and demand, no matter the field. You’ll also need to assess its novelty to determine if it qualifies for patent protection, ensuring it stands out in a crowded landscape of existing technologies. For those filing in the U.S., Cornell Law School states that novelty requires “that the claimed invention has not been patented, described in a printed publication, in public use, on sale, or otherwise available to the public” before your application has been filed.

Finally, consider scalability — whether the invention can be expanded to generate significant revenue or impact. Scalability can look different to everyone, so ask yourself how your invention might scale:

• Will it scale regionally and across markets?
• Will you aim to scale a single impact point with your invention or multiple, such as its environmental and social impact?
• Will scaling up the production or adoption of your invention align with your target industry and market?

By addressing these criteria, you can prioritize ideas that align with your strategic goals and have the potential for long-term success.

Conduct a careful patent search

As you start your patent applications, it’s important to understand you’re not the only person out there filing for patents and that there may be similar innovations already in existence. According to the World Intellectual Property Organization (WIPO), 3.6 million patents were filed in 2023 alone. That was a 2.7% growth in filings from the previous year. This shows us that a large number of patents are filed each year globally, and the number is only increasing over time.

That’s why submitting a successful patent application requires thorough preparation and strategic execution. You’ll need to conduct a comprehensive patent search to ensure your idea is truly unique, which will help identify potential overlaps between your IP and others. You can begin your search online using databases such as WIPO’s IP Portal, Google Patents and publicly available patent databases like the United States Patent and Trademark Office’s Patent Public Search — be sure to have keywords related to your invention in mind for this step. Once you identify those overlaps via your search, you can refine your application to stand out from the crowd.

Collaborate with a qualified team

Once your search is over, it’s time to collaborate with a strong team of experienced patent attorneys and technical experts who can craft a clear and compelling application. The precise language used to describe your innovation is critical, and experts can help effectively articulate its value, especially if your innovation is complex. By collaborating with a team of experts, you’ll help ensure your patent application is in line with any relevant patent laws and that appropriate language is used for the strongest application possible.

Additionally, working with a patent attorney brings their unique knowledge of complex patent law into your toolbox. Patent laws vary from region to region, and an attorney will be able to assist with legal advice, strategy and filing as needed.

Related: 4 Ways to Significantly Reduce the Cost of Obtaining New Patents and Managing IP

Put together a detailed patent application

Finally, it’s time to put your patent application together. The information required in an application will include details like invention title, invention context and novelty, invention summary and drawings, among others. Be detailed and precise in your application by including comprehensive data, diagrams and clear explanations to demonstrate how your invention works and why it’s novel. A robust and well-documented application strengthens your case during the review process and improves your chances of success.

As you begin your patent application, keep in mind that the patent process can be lengthy. It typically takes anywhere from 18 months to several years for a patent to be approved, depending on the complexity of the innovation and the jurisdiction. For women in particular, there are additional barriers that exist when it comes to patents as well — the World Economic Forum reported that only 17% of inventors holding international patents were women in 2022, highlighting the importance of resilience and preparation when it comes to patent applications.

Filing the initial application, responding to examiner queries and addressing any challenges during the process requires patience and persistence from start to finish. Begin your patent application process with confidence — no one knows the ins and outs of your inventions better than you.