Beg, Borrow or Steal?

‘Beg, Borrow or Steal’ is the most popular saying which rings in the mind when there’s need for funds for an initiative. No question that funds is one of the most important ingredients for an initiative to sustain. It’s also known that every initiative should reach the phase of sustenance quickly to survive and to keep the initiative going and also to set a stage for the growth too. (Reference to one of our earlier article: Business Maturity Model). You have a choice for your initiatives to either Beg or Borrow or To Steal. I think these are exceptions; there’s another option which is never spoken about much because it’s the rule. The best way to sustain any venture is to follow the “Earnings Model”. This model guarantees sustenance as it makes an organization self-sufficient by generating cash flow through earnings. This is the most critical model for any startup. This ensures momentum and assures sustenance on a long run. This model not only is applicable to startups, it can be applied to any small initiative in an organization. We recently had an application of this concept for the COACH program in our organization. The COACH program is the employee social responsibility initiative at Compassites. Funds for COACH were available only through donations earlier. Now the earnings model has been followed. The COACH team sells snacks at premium, they organize events, they organize movie shows, create and sell paintings, and many more activities thus making the COACH program a more sustainable venture within the organization. “Earn to Spend, Your spending becomes more meaningful” – Naveen Lakkur

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