Although 83% of U.S. adults said parents are the most responsible for teaching their children about money, 31% of American parents never speak to their kids about the topic, according to a survey from CNBC and Acorns.

Last week, the subject came up on Northwestern Mutual’s A Better Way to Money podcast, which featured social media star and owner of Stur Drinks Kat Stickler and Northwestern Mutual vice president and chief portfolio manager Matt Stucky.

“I love and respect my parents, but we didn’t really talk about money ever — I never saw them talk about money,” Stickler told Stucky during the conversation. “It was taboo. It wasn’t brought up once.”

Related: Members of Every Generation Have Side Hustles — But They Don’t Spend Their Earnings the Same Way. Here’s the Breakdown.

According to Stucky, parents can instill strong money management skills like any other good habit.

“It just takes a lot of repetition — things like saving, investing,” Stucky said. “I’m not going to teach my 4-year-old about investing, but just the idea of if I save a dollar, that means I can spend it down the road on something that I really want. That takes a while to sink in.”

Money might not have been a regular topic of discussion while Stickler was growing up, but the entrepreneur says her mother did show her the value of a dollar in other ways: repurposing old jeans into shorts or empty butter tubs into containers for school lunch.

In addition to talking to their kids about money, parents can lead by example when it comes to smart financial decisions.

“There are new risks that are now in the equation of being a parent,” Stucky said. “Things like, What if something happens to me; what if I can’t work anymore? How does that impact my child’s financial life?“

Navigating those uncertainties means planning for big-ticket items, according to Stucky. Stickler, who has a young daughter, said she’s already taken some key steps to secure her future: setting up a will complete with a month-by-month timeline and establishing funds for healthcare and school — and even one for clothes and toys.

Related: What Your Parents Never Taught You About Money

According to Stucky, parents should leverage today’s circumstances for tomorrow’s success.

Stucky recommends setting up a 529, to which you can contribute funds for education, and a Roth IRA for your child.

“[With a Roth IRA], you are able to contribute on their behalf up to the child’s earned income amount or the current contribution limits of $7,000, and the dollars come out tax-free after age 59 ½ or if they need to use it for a qualifying life event,” Stucky explains. “It’s a way to set up your children for their retirement, as well as support generational wealth.”

Parents might also consider a Uniform Transfer to Minors Account (UTMA), which has no limit on the amount that goes in and allows them to retain control until their kids reach 18-21, depending on where they live, Stucky says.

Related: Shark Tank’s ‘Mr. Wonderful’ on Teaching Kids About Money: ‘Put Their Noses In It, Like You’re Training a Puppy’

Finally, Stucky recommends the “often overlooked option” of permanent life insurance for your child.

“The policy will pay a death benefit someday so long as the required premiums are paid,” he explains. “In addition, policies accumulate cash value, which your child could access during their lifetime.”

As the 2024 election grows closer, many voters are wondering how different outcomes will affect them financially. A big question is how the outcome of the presidential election could affect interest rates.

In July, the Federal Reserve chose to keep the federal funds rate steady at 5.25% to 5.50% after increasing it 11 times between March 2022 and July 2023. When the federal funds rate is high, this increases the cost of borrowing for businesses and consumers.

The sitting president doesn’t have a direct impact on interest rates, but they can indirectly influence them with their actions and policies. Let’s look at how each candidate’s policies could affect the financial landscape going forward.

Related: How Billionaires, Millionaires and Market Analysts Are Reacting to the Trump-Harris Debate

How does the President impact interest rates?

The Federal Reserve aims to keep inflation at around 2%, and it does this by raising or lowering interest rates. When inflation falls too low, the Fed lowers interest rates to stimulate the economy.

Likewise, if inflation gets too high, the Fed raises interest rates to make it harder for banks to borrow money from each other. When interest rates are high, business and consumer spending tends to slow down, hopefully reducing inflation at the same time.

The Federal Open Market Committee (FOMC) sets the federal funds rate, which is the target interest rate range. However, there are several ways the President can influence interest rates:

• Removing the Fed chair: According to the Federal Reserve Act, the President can remove the Fed chair “for cause.” Some legal scholars have taken this to mean malfeasance, not policy differences, but the statute is ambiguous at best.

• Nominating members: The President can appoint the Federal Reserve Chair and nominate members of the Board of Governors. However, each term lasts 14 years, and the Senate has to confirm each appointment, so the President’s authority is still fairly limited.

• Voicing concerns: The President can disagree with the Federal Reserve’s decisions and express them publicly. However, they can’t prohibit the Federal Reserve from raising interest rates.

It’s also important to note that there are 12 Federal regional banks located across the country. The President has no say in who runs these banks.

Related: 10 Significant Ways Your Taxes Will Be Impacted By A Kamala Harris Administration

Election outcomes that could affect interest rates

The President’s policies and actions can indirectly affect the Federal Reserve’s decision to raise or lower rates. There are two major candidates in the upcoming 2024 election — let’s look at how a win on either side could affect interest rates.

Kamala Harris wins:

When President Biden was running for re-election, the general consensus was that a Biden victory would result in almost no change to interest rates. But in July, Biden dropped out of the 2024 race, and Kamala Harris is now the Democratic nominee for president.

It’s hard to predict how a Harris presidency would impact interest rates, especially since she hasn’t fully outlined her economic policies. Harris has urged lowering taxes on lower and middle-class families and has promised to repeal the Trump tax cuts if she wins the White House. And like Biden, Harris supports investing in green energy and infrastructure.

As a Senator, Harris voted against Jerome Powell’s confirmation as the Federal Reserve chair in 2018. Some have speculated that she’s unlikely to reappoint him when his term ends.

Former President Trump wins:

If Donald Trump is elected in November, he will likely extend tax cuts until at least 2027. His policies tend to favor tax cuts and deregulation, which benefits businesses and could increase the demand for business loans. However, there’s speculation that his plan to cut taxes could drive inflation higher, causing the Federal Reserve to raise interest rates to combat inflation.

During Trump’s term, there was significant tension between him and Federal Reserve Chairman Jerome Powell. Many people have wondered whether Trump will fire Chairman Powell if granted a second term. Chairman Powell’s term ends in 2026, and the former President has stated that while he’ll allow Powell to finish his term, he will not reappoint him.

The Federal Reserve has already indicated it might cut rates in September. However, if inflation becomes a concern or begins going up again, the Fed could maintain or even increase interest rates.

Related: This Election Season Full of Deepfakes, Doubts and Disinformation Should Motivate You to Do Your Own Research — Here’s How to Uncover the Truth

How to prepare for election season

Election seasons can be stressful as many people wonder how the outcome will affect the economy and their livelihood. Fortunately, data shows that the market tends to perform well during an election year.

Even if the election outcome creates some volatility, the impact will likely be short-lasting. Fundamental drivers of the economy, like inflation and Federal Reserve policies, will likely have a bigger impact on interest rates than the election itself.

For example, JP Morgan found that during the 2020 election, the ending of lockdowns impacted the market more than the views of either presidential candidate. Likewise, in 2008, the Financial Crisis was the primary driver of the economy, not the election.

Inflation is decreasing, and unemployment is at an all-time low, so it’s likely we’ll see a potential rate cut or two in 2024, regardless of who wins the presidency. But regardless of what happens, there’s never a perfect time to access capital. If you have an opportunity to grow your business, don’t let it pass you by due to election fears.

Look, chances are that if you’ve clicked on this article, then you’re at least interested in the possibility of becoming an entrepreneur. However, if you’re like most of us, then it’s also likely that just as quickly as dreams of entrepreneurship enter your mind, you’re also seeing warning signs, roadblocks, depressing statistics and maybe a horror story or two of that person you know who took a leap that didn’t pan out. You’re not alone. And yet … it’s a tempting thought.

As a former corporate employee of many years, I am all too familiar with the motivators behind becoming an entrepreneur:

• The autonomy to decide your own fate after years of bureaucratic red tape
• The flexibility of building your own schedule after a traditional 9 to 5
• The financial security of knowing your hard work directly impacts your bottom line rather than accepting a predetermined salary
• The sheer excitement of finding purpose in the day-to-day work

Trust me, I get it.

However, as we know, entrepreneurship isn’t for everyone. So how do you decide whether to consider it for yourself, much less take the necessary leap? In my current role as a franchise consultant and small business owner, I work with people all of the time who are on the cusp of making this very decision. So before diving in, how can you prime yourself for entrepreneurship before jumping in with both feet?

Related: How to Know If You’re Ready to Leave Your 9-5 and Go All In on Your Side Hustle

1. Reflect and self-assess

As mentioned, not everyone can become an entrepreneur, so you have to honestly ask yourself: What am I good at? What do you like to do? Am I a creator/visionary or am I an operations/execution person?

Make a list (yes, actually put pen to paper or pull up a document) and take an inventory.

2. Start networking with business owners in your community

At the end of the day, being an entrepreneur requires a certain level of social ability. I’m not suggesting that you need to be the life of the party or the most extroverted person in the room — in fact, there are lots of successful entrepreneurs who are predominantly introverted. However, there is no faster way to become aware of the ups and downs of entrepreneurship than putting yourself in front of business owners.

Meet them through the chamber of commerce events, meetups, professional development service get-togethers, trade networking events and education groups. There are even executive transition groups specifically designed for making this jump.

Don’t limit yourself. Unless you are totally confident in the type of business you want to own, cast a wide net. Network with franchise owners, online startup business owners, etc. If you are making an effort to meet these people and make these connections, you will find them.

3. Educate yourself

Unless you are sitting on a large inheritance, there isn’t a golden ticket way to fast-track your success. It’s important that you take the time to educate yourself on various opportunities. Hit the books and read, read, read about business ownership, leadership and management skills. Perhaps consider getting something like Kindle Unlimited which allows you to peruse thousands of books and check out up to 20 at any given time for a monthly subscription.

I often like to say that as a business owner, you are the OEO (Only Executive Officer), so make sure you are also reading up on some of the less glamorous aspects like human resources, training and tech tools.

In addition to reading, watch YouTube videos, follow social media influencers, listen to podcasts — whatever it is that you think you may be lacking or whatever skill you need to hone before becoming a business owner, make a list and cultivate your knowledge in these areas.

Related: Most People Have No Business Starting a Business. Here’s What to Consider Before You Become an Entrepreneur

4. Start a small side hustle

Ultimately, if you’re going to start a business, you are going to have to juggle and sacrifice things. For example, there may be times when you can’t go on a vacation or take time off. You know the phrase: “The grind is real.”

As an entrepreneur, your work life and your personal life intertwine, especially at the beginning. A successful business gives you all four of those motivators I mentioned above (autonomy, flexibility, financial security and purpose), but not upfront — it takes time to get there.

If you, like many, are considering entrepreneurship but still have a day job, you need to ask yourself: Do I have the mental flexibility to compartmentalize and move back and forth between both?

Starting a small side hustle is a testing ground for you. Start with low stakes and a lower investment. This can help you prepare to become an entrepreneur.

5. Speak with the decision-makers in your life

Last, but certainly not least, it’s important to speak with the people in your life who may be impacted by your decision to become an entrepreneur, most likely a spouse.

Have a deep dive and a serious conversation that you schedule separately from just another evening conversation after a busy day. Have a planning discussion for the future. Create a future vision for what you want your life to look like over the next 5, 10 or 15 years. Will you stay in your corporate role? Do you have plans in place for retirement? What’s your risk tolerance? Rate it on a scale of 1-10. Now what is your spouse’s risk tolerance? Is there alignment?

I truly can’t overstress this: Creating that future plan/vision is key. After all, if you don’t have a target to aim at, you won’t hit it.

Ultimately, entrepreneurship can be a fantastic path leading toward a fulfilling and exciting life — it’s the best professional decision I ever made. That said, it’s vital that you take the time to understand yourself and the opportunities available. Consider taking these steps above to prime yourself for entrepreneurship so that when the time comes, you’ll be ready to take the leap.

Three Mile Island, the three-mile nuclear station near Harrisburg, Pennsylvania, has been closed since 2019. Now the island is set to reopen by 2028 to power Microsoft’s data centers, which are foundational to the tech giant’s AI and cloud computing businesses.

Constellation Energy, the owner of the power unit, announced the 20-year deal on Friday, which involves Microsoft buying energy from the restored plant. Restarting the plant means a $1.6 billion investment to revive it, ensure everything is up to date, and obtain the necessary permits and licenses. The payoff is significant though — the plant could create 3,400 new jobs directly and indirectly, and add $16 billion to Pennsylvania’s GDP.

Microsoft’s decision to turn to nuclear power is a sign of the high amounts of power required for the AI boom. According to Bloomberg, AI has increased demand for carbon-free electricity — and Microsoft’s move to purchase nuclear energy for 20 years, the first agreement the tech giant has signed of its kind, is the latest move to meet that need.

^{Three Mile Island. Credit: Getty Images}

Since the agreement was announced, opinions have been mixed about how to proceed. Pennsylvania Governor Josh Shapiro supports the deal and wants it “fast-tracked.” Residents of Perry County, Pennsylvania, however, are writing letters to the newspaper noting that the problem of nuclear waste or by-products should be addressed before the plant opens.

Related: How Much Does It Cost to Develop and Train AI? Too Much.

Dr. Michael Goff, acting assistant secretary of the Department of Energy’s Office of Nuclear Energy, stated that the restart was “an important milestone.”

“Always-on, carbon-free nuclear energy plays an important role in the fight against climate change and meeting the country’s growing energy demands,” Goff said.

Three Mile Island was once known as the site of the most serious accident in U.S. commercial operating history. In March 1979, part of the power plant melted down and released small amounts of radioactivity. The incident inspired greater regulations and led to less public confidence in nuclear power in the following decades, though there were no injuries, deaths, or long-term health effects observed from the accident.

Did you hear about Google’s recent $1.67 billion settlement in a patent lawsuit? It really puts the spotlight on the high stakes of patent disputes. While this might be a minor setback for a giant like Google, it’s a loud wake-up call to every enterprise about the importance of effective management of patent programs.

As the saying goes, “By failing to prepare, you are preparing to fail.” This maxim fits perfectly in the context of managing a patent program, where the focus isn’t just on creating defensive legal shields but also on strategically selecting which innovations to patent. Such decisions, closely aligned with business goals, are crucial for major players like Google to avoid litigation and are even more critical for startups. For startups, a strong patent portfolio can be the ticket to boosting their market value and attracting investors.

With this consideration in mind, let’s look at how even slight mismanagement of patent programs can lead to significant setbacks.

Related: Top 5 Intellectual-Property Challenges Businesses Face

Can failing to protect an innovation be life-threatening?

Imagine it’s the middle of the night. Someone with a known heart condition is sleeping, relying on their smartwatch to alert them to any dangerous irregularities in their heartbeat — a feature they trust like a lifeline. But without informing them, this very feature has been quietly disabled — caught in the crossfire of a corporate patent war. Suddenly, this isn’t just about a watch failing to tick or a screen freezing. It’s about a critical safety net being pulled away at the worst possible time. This isn’t just a technological glitch; it’s a grave misstep in corporate ethics. Decisions like these can shatter consumer trust and cast a long shadow over an enterprise’s commitment to protecting its customers when they need it most.

A case in point is the lawsuit by Masimo, a medical technology company, against Apple for using their patented blood oxygen monitoring feature in two new Apple watches. Initially, Apple was asked to recall the product from the market, but in response, they decided to disable the feature to continue sales. This decision, while seemingly strategic, could have serious implications. Could a consumer who bought the product for the health monitoring features that was injured or even killed because the feature was removed file suit?

In the unforgiving world of intellectual property, even industry titans can occasionally err in determining which inventions to secure with patents or licensing.

Consequences of mismanagement of a patent program

For larger enterprises, a mismanaged patent program could lead to significant financial losses, weakened market position and increased vulnerability to litigation. Meanwhile, for smaller enterprises, the stakes are even higher. They may not have the resources to rebound from similar missteps, which could lead to disastrous consequences, including potentially shutting down the business.

Let’s now take a closer look at these dire consequences of mismanaging a patent program and how they can be avoided:

Missed market opportunities

A common pitfall in patent program management is when your strategy fails to keep pace with your evolving business goals. As markets and technologies rapidly change, what’s critical for your business today might not hold the same importance tomorrow. This dynamic can lead you to accumulate patents that no longer support the direction in which your business is moving.

Such misalignment can lead to inefficiencies and, more critically, missed opportunities in the marketplace. What’s crucial here is to do the soul-searching regularly, reassessing and realigning your patent portfolio with your business goals. This means pruning where necessary and expanding where opportunities are seen, ensuring that your intellectual property supports your long-term business objectives.

Related: Unlocking the Market Potential of Your Patent Portfolio — A Guide for Entrepreneurs

Lost money on bad patents

Let’s face it: It’s challenging to predict which patents will add value to your business without understanding their market potential, which can be impossible at the time of invention. Many enterprises opt for a “shotgun approach,” filing a broad array of patents and hoping some will eventually pay off.

This strategy is risky — “bad patents” can consume significant resources in filing and maintenance fees without providing any return on investment, cluttering your portfolio with non-valuable IPs.

To circumvent such issues, my approach with clients involves focusing on innovations with high commercial potential or protecting the most important products of your enterprise. I identify this by analyzing competitors’ patent portfolios, identifying market gaps for competitive advantage and steering clear of saturated areas. Regular portfolio reviews and targeted pruning help remove underperforming patents, maintaining a lean and effective patent portfolio.

This strategy is crucial not only for established businesses but also for startups. Research indicates that startups with valuable patents are 10X more likely to secure funding, highlighting the significant advantages of strategic patent filings.

Compromised defensive value of patents

For many large enterprises, the purpose of amassing a robust patent portfolio is to use it defensively — to deter potential lawsuits from competitors. I have seen enterprises often believing, “If we’re sued, we can countersue with our patents.” And to do so, they build large patent portfolios by patenting anything and everything.

But what happens if your portfolio isn’t strong enough? A lack of a solid defensive shield can leave you vulnerable to aggressive legal challenges from strong competitors in the market, which can be both costly and disruptive to your business operations.

To mitigate this, the strategy must focus on quality over quantity. It’s not just about having many patents but ensuring that each patent is robust, enforceable and covers key technologies crucial to your products or the industry generally. This requires a strategic evaluation of both your own technological needs and your competitors’ patent landscapes. Regularly assessing the strength and scope of your patents helps to ensure that your portfolio can effectively serve its defensive purpose.

Furthermore, engaging in proactive IP audits and seeking opportunities to strengthen your portfolio through acquisitions or in-house innovation can further bolster your defensive strategy. These studies can identify patents no longer relevant in the industry to avoid paying for further maintenance fees.

Related: The Basics of Protecting Your Intellectual Property, Explained

Patents are more than legal safeguards; they anchor businesses and impact lives. The story of Massimo’s patent battle illustrates the stakes — safeguarding not just business futures but human well-being. It’s important to ensure your strategy is robust, blending business goals with meaningful innovation. The right approach isn’t just protective — it’s a competitive advantage rooted in responsibility. Transform your intellectual property into a cornerstone of success and impact.

You’ve heard the statistics: Around two-thirds of startups fail.

Young companies fail for many reasons — from insufficient capital to lack of market demand — but scaling too quickly is the primary culprit. Growing at an unsustainable pace too early can be fatal, contributing to an estimated 74% of startup failures.

Gripped by the adrenaline rush of initial success, pursuing new markets, diversified product lines, and a larger customer base in the hopes of massive profits can be tempting. However, without a solid foundation, scaling too quickly can cause a promising company to crash and burn.

You can scale your business sustainably by focusing on steady, strategic and manageable growth.

Here’s my case for prioritizing depth over breadth in startup expansion.

The problem with growing too fast

After securing funding for a startup, you may be eager to kickstart an ambitious expansion plan. However, following a high-growth approach that prioritizes return on investment at all costs comes with risks:

1. Stretched-thin resources

Young startups operate with limited resources — including finances, manpower and time. Expanding too quickly across multiple markets can lead to future layoffs and hasty cost-cutting measures.

2. Strained customer experience

When early-stage startups shift focus to scaling headcount and new markets, foundations like proper customer experience may fall by the wayside. Overwhelmed by a runaway customer base, teams may struggle to maintain the same level of user (or client) care.

Related: To Expand, Or Not To Expand? 10 Factors To Consider Before Expanding Your Startup

3. Quality compromise

Aggressive expansion can lead to compromised quality in all areas of a business, including:

• Hires. There are only so many qualified candidates in the job market at any given time. Bad hires will cost companies down the line.
• Culture. Without proper oversight, runaway growth can breed a toxic work culture. Growing too quickly can burn your team out, contributing to poor productivity, low morale, and a high employee turnover — all symptoms of a toxic work environment.
• Product or service. As startups scale, sometimes the things they do best get watered down. Teams may be unable to meet demand and maintain the quality of their core offerings.

4. Compliance issues

Navigating laws and compliance issues can be challenging enough in one location. Adding multiple cities, states, and countries gets even hairier. As you expand to other jurisdictions, you may run into complications like unique requirements for employment, taxes, and payroll.

(FYI: I learned this lesson the hard way in the early days of setting up my company. My limited understanding of the laws around paid time off in various Latin American countries cost my company tens of thousands of dollars.)

5. Compromised company culture

Sustaining a company culture is easy when you’re a small team with a vision. Expanding to larger teams around the country or world makes it trickier to preserve core values. The bigger your company gets, the harder it can be to establish a universal culture and create a sense of community.

Compromised company culture is a big deal: Plenty of research confirms it matters, with one international study finding that 73% of workers would not apply for a company if it did not align with their values.

Related: Small Business Owners Are Watching the Election — But They’re Deeply Skeptical

How to grow your startup the right way

To mitigate obstacles while building your brand a bigger and better one, consider these three rules for scaling your business the right way:

Prioritize your user experience

In a competitive marketplace, user experience — or people’s relationship with your platform — separates flash-in-the-pan startups from enduring brands.

Consider Slack, an uber-successful platform that built a user base, gathered feedback, and adjusted its product accordingly before expanding into a general collaboration tool. Or Zappos, an online shoe retailer that enjoyed rocketing organic growth by offering free returns and going above and beyond for its customers.

My company, a hiring platform, found early success by offering our job seekers above-industry-standard salaries, premium benefits, and mentors. Our dedication to improving job seekers’ experience helped us recruit the region’s top performers and increased our retention rate. Having top talent made it easy to catch the eye of top clients seeking qualified tech workers.

Stay lean

History is filled with startups that found success by keeping costs low: Spanx was founded in the 1990s with just $5,000 of the founder’s savings; Subway was started in 1965 on $1,000 borrowed from the founder’s family friend.

In the early stages of your company, limit your spending to need — not available capital — to allow enough room for growth. You won’t be able to scale if you’re stretching capital, staff, or other resources too thin.

Dominate one market before moving on to the next

Airbnb initially focused on perfecting its home-sharing model in key cities like New York before moving to other markets, building a sturdy foundation for its subsequent global expansion. Streaming giant Netflix invested heavily in original content creation and improving its recommendation algorithms instead of expanding into unrelated markets.

Your marketplace visibility helps increase brand recognition, customer loyalty, and market share. To achieve a greater market presence, concentrate on becoming a dominant player in a specific niche or geographical area before moving on to new opportunities.

As an entrepreneur or business owner, travel might be a fundamental aspect of your strategy to network, expand, or oversee operations. Though, it probably isn’t in your business plan to spend a lot of money doing so. In 2023, Zippia reports that the average business traveler spends $949 in fees.

You could reduce travel expenses such as flights and hotels if you shop around on sites like Expedia or Priceline, but why not let this AI-powered travel app help you book your next business trip? Save 40% to 90% on upcoming trips for life when you get OneAir’s Elite Plan for $69.99 (reg. $790).

Your most affordable business trip yet

Whether you’re meeting partners in New York City or London or flying employees to a company retreat, travel expenses add up. If you’re ready to cut some of those costs down, add up to ten departing locations and specific destinations where you have client-facing meetings or networking events.

Once you’ve entered that information, OneAir’s AI engine will scan and track millions of fares in real-time to alert you to the best deals on economy, premium, business, and first-class flights.

The best part about OneAir (aside from the travel savings it’ll find you) is that you can book flights on its iOS, Android, or web app without being redirected to other sites—au revoir, third parties. And unlike Google Flights or another flight finder, every price OneAir sends you is all-inclusive with no additional costs or fees.

After finding your desired flight, use OneAir to explore deals on hotels and resorts, rental cars, and excursions. You might just save up to 60% on travel accommodations for yourself and your employees and get a wholesale price on sightseeing activities or meals at hip restaurants.

A travel app designed for entrepreneurs

Any business owner knows that time gets away from them, so to help you plan out the details of your trip, OneAir Elite offers 24/7 support for any stage of your travel organization. While you’ll get booking assistance from its AI, you’ll get itinerary help from real people.

No matter where you need to travel for work, you might be able to save hundreds with this app. Grab a lifetime subscription to the OneAir Elite Plan for $69.99 (reg. $790).

StackSocial prices subject to change.

For entrepreneurs and small-business owners, managing expenses and maximizing value are key to staying competitive. A Sam’s Club membership can help streamline that process with access to a wide range of products and services designed to save you both time and money.

Whether you’re stocking up on office supplies, groceries, or other business essentials, Sam’s Club offers deals that make it easier to stretch your budget without compromising on quality. You can get a year-long Sam’s Club membership on sale for just $15 until September 27.

One of the major benefits of a Sam’s Club membership is access to bulk purchasing options, allowing you to buy in larger quantities at lower prices — ideal for businesses that need to keep their shelves stocked or regularly buy supplies in volume. On top of that, Sam’s Club offers value on everything from electronics to furniture, helping you furnish your workspace or upgrade tech without breaking the bank.

For those looking to get even more out of their membership, Sam’s Club provides value-added services like tire and battery care, optical and pharmacy services, and discounts on travel and entertainment. These perks go beyond shopping, offering practical solutions that support both your personal and professional life.

A Sam’s Club membership also provides convenience, with options for online shopping and curbside pickup, making it easier to get what you need without spending time navigating the aisles.

For business owners looking to increase their purchasing power and access a range of benefits, a Sam’s Club membership is a smart investment that delivers value year-round, and it’s available as an auto-renew plan for just $15 through September 27.

StackSocial prices subject to change.

Say goodbye to passport renewal hassles.

The State Department announced to ABC News on Wednesday that online passport renewal is finally here for adults 25 and over who have had a passport before.

Related: 8 Islands U.S. Citizens Can Visit Without a Passport

Rena Bitter, assistant secretary of state for the Bureau of Consular Affairs, told ABC News that the service is for adults whose passports have expired within the last 5 years (or expiring in the next year) and that the agency expects five million Americans to use the service every year.

“The process of applying for a passport online will be much more convenient for Americans,” Bitter said.

Processing time is expected to be six to eight weeks. If you need your passport renewed sooner or are applying for the first time, the standard, more analog application process is still available.

Users can create an account on the State Department’s website, and input old passport information with their upcoming travel plans.

Related: Family Missed Out on Dream Vacation Because of a 1-Centimeter Tear in a Passport

For the photo, applicants can upload their own photo online —with some caveats. The image must have been taken recently and have a white background. And no selfies. Payment is by debit or credit card.

For more official criteria for online passport renewal, visit the State Department’s website.

Every company faces more pressure than ever to offer their customers outstanding digital experiences. Content such as text, images, video and more is the substance of those digital experiences, so every business needs to get content right. Why not learn from the pioneers of digital experience, SaaS (software as a service) companies?

Consider why SaaS companies like Intuit and Salesforce excel at content. From day one, successful SaaS companies support the end-to-end customer experience through diverse content, ranging from inspirational podcasts to product explainer videos to contextual help. As a past head of content for Mailchimp, I know firsthand that when customer experience is digital, content is critical. Consider these four content secrets that can benefit any business.

Related: How to Create Content that Generates Exposure, Loyalty and Sales

1. Show and tell your brand purpose

A meaningful purpose can differentiate a brand from any generation, but especially the up-and-coming Gen Z. One recent study by Roundel found that 73% of Gen Z participants will buy only from brands they believe in.

Adding purpose to a brand starts with defining it. But that can’t be where purpose ends. A brand has to demonstrate its purpose or risk coming across as unauthentic or even hypocritical.

Salesforce is a model for showing, not just telling, its purpose through content. From almost day 1, Salesforce has said its purpose is to “build stronger relationships.”

Recently, the successful SaaS launched a Netflix-like experience called Salesforce+. This streaming service provides on-demand content with very high production value about timely business and marketing topics, often involving Salesforce customers.

I’m not saying every company has to be Netflix. But every business can offer content that brings its purpose to life. For instance, The Home Depot offers project, buying and inspiration guides that show it empowers “more doing.” Patagonia’s catalog is more like an outdoor magazine with stories illustrating its commitment to “protect our home planet.”

Related: Don’t Just Hire — Grow Talent. 4 Ways to Set Your New Employees Up for Growth

2. Go beyond customer service to customer success

Great SaaS have figured out how to handle customer service digitally and enable customer success. Outstanding SaaS offers content to help customers solve problems and get more value.

Content examples include but are far from limited to

• Microcopy, such as labels, instructions, headings, icons, and error messages.
• Wizards or step-by-step interactive guides.
• FAQs that are easily accessible by chat and voice search.
• Contextual help, such as tooltips and notifications.
• Best practices based on the most successful customers.
• Chatbots or copilots fueled by FAQs, contextual help, and other content.

A great SaaS example is Intuit Assist, an AI-powered advisor that works across all Intuit products–and that has earned distinctions like the Fortune 50 AI Innovators. Forward-thinking businesses are taking note. For instance, Wal-Mart recently launched a copilot that allows customers to request “Help me plan a Halloween party” and receive relevant product suggestions across all departments.

Not ready for a full-on AI bot or copilot? Your company can leverage content to help customers and train an AI bot or copilot later.

Related: Why Doing the Right Thing Leads to Long-Term Success

3. Promote less, guide more

Every business faces the challenge of merchandising their products or services to fuel growth. Look at the way high-growth SaaS makes customers aware of relevant new offerings. Rather than blast sales-y ads and emails repeatedly, the best SaaS nudge customers to try new features, products, or services by suggesting them to customers most likely to benefit at the right time.

For example, during my time at Mailchimp, the SaaS grew quickly and added features steadily. So, while the engineers built the features, my teams built the content to encourage and support customers. We found a strong correlation between suggesting a useful how-to article for a new customer attempting a feature for the first time, that customer’s success, and millions of dollars in revenue.

I’m not saying your company should never place an ad again. But I’m willing to bet the uptake of your offerings will be much higher if you guide customers.

Even a product as simple as an eyeshadow stick, as seen with the wildly successful Thrive Causemetics, includes detailed descriptions, how-tos (both text and video), images for different skin types, FAQs, statistics, pro tips from the founder, and more.

4 Get your content in order

This secret is about what happens behind the scenes with content. There is no content fairy to magically create and manage your content. (No, not even AI can do that!) But there is content operations — the combination of people, processes and technology that orchestrate end-to-end content. Smart SaaS matures its content operations quickly so that it can scale. At Mailchimp, I added modern content roles, defined new processes and led the adoption of content workflow software.

Recently, Pfizer realized just how important content operations is to sustaining and expanding its business. At Adobe Summit, Jane von Kirchbach, Senior Vice President of Digital, said that “over the period of the pandemic, we touched more than one billion lives. This is our time to amplify how we engage with our customers, with our patients, with our doctors, and hospitals. Content is at the heart of that transformation.”

Pfizer transformed its content operations by streamlining its end-to-end content supply chain, automating workflows, and using AI to assist content development. These changes reduced content creation time by more than 50%.

So, as your business has to compete on digital experience, you can gain an advantage by acting like a world-class SaaS. Imbue your digital experience with content that shows your purpose and empowers your customers to succeed. And set up the right content operations to scale. The better your business gets at content, the more your business will grow.