Successful Blog

How to Save on Business Insurance – And Why You Need It Now

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Business owners face a lot of expenses. One way to lower costs is to shop effectively and look for how to save on business insurance rates since every nearly every commercial enterprise needs insurance.

Get the Right Insurance

Business owners need to be aware that when they drive their car, truck, or van for commercial purposes, they need to purchase commercial auto insurance. This can be for one vehicle or for several vehicles, but premiums can get expensive.

Just like people need auto insurance for the vehicles they drive for personal reasons, they also need to purchase commercial auto insurance for the cars they drive for work. Commercial insurance has a different risk category than personal lines.

Hire Safe Drivers

Safe driving is a key step to keeping costs low. If there is an accident when the owner or an employee is driving for the business, the business insurance policy will cover the vehicle and the protect person driving, but an at-fault accident will increase rates. This is why it is important to hire scrupulous drivers and screen them in advance.

Drivers with clean driving records are the best choice as they present less risk and can save you a lot of time and hassle in the long run. It may be difficult to find several drivers who have completely clean records, but business owners can weed out those with checkered records as they can raise
business owners’ premiums.

Also, if a business owner has multiple vehicles, it is best to combine them onto one policy so as to take advantage of multi-vehicle discounts. Many of the top auto insurance companies offer great policy options for business owners.

If you have drivers putting on a lot of miles, it may be wise to put them through a defense driving training course. Some insurance companies offer discounts to drivers who attend safety courses. By having their employees in these courses, business owners may be able to lower their insurance rates. Check with your company to see if this discount is available.

Raise the Deductible

As with personal insurance policies, business insurance policies have a deductible, the amount of money that the business owners will pay if their vehicles are involved in a car collision. When the deductible is higher, the insurance company will lower the insurance premiums. However, Business owners must be sure they have the funds available to pay the deductible if their drivers are involved in a vehicle collision before they choose one that is too high.

Consider Different Payment Options

By choosing the right payment options, business owners will save a lot of money on their insurance premiums. First, they can opt to pay their premiums all in one sum rather than on a monthly basis. This option helps them save on the administration fees the insurance company charges for month-to-month payments.

Business owners will receive up to a 10 percent discount from some insurance companies for paying their premiums up front. If business owners find it more affordable to pay their premiums by the month, they may be able to save on the administration fees if they sign up for electronic payments. This option also prevents them from being susceptible to having to pay late fees because the amount will be debited from their bank accounts on a set date.

What’s stopping you from having the right insurance for your business?

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Author’s Bio:
Jason Nelson writes about driving safety tips and how to save from top auto insurance companies at BestCarInsuranceCompanies.net.

Thank you, Jason! Great information!

–ME “Liz” Strauss
Work with Liz on your business!!

Are You in Business to be Successful?

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Making a go of a small business in 2011 is no easy task.

A troubled economy, fears about the stock market, and where things will go in 2012 with a presidential election have led many individuals considering opening a small business to wait on the sidelines.

That being said, some individuals have found the small business world to their liking. Whether it was always a dream to work for one’s self or being let go at a full-time job and then turning to themselves for employment, some will tell you that opening their own small business was the best decision they ever made.

Know the Risks of Opening a Small Business

The choice on whether or not to open a small business is not to be taken lightly. Individuals must consider the risks and rewards that come with such a decision, including the potential financial losses that can quickly overcome someone and their family should the planned venture fail.

When looking at where to possibly begin a small business, keep in mind that some industries are thriving quite well right now given their importance to consumers. Even when the economy is in trouble, some fields will continue to prosper, so be cognizant of that when looking into a small business venture.

If your dream is to own and operate a small business, some industries to look to include:

  • Elderly care – With an ever-growing number of American senior citizens, it makes sense to have a business supplying them with products and/or services. Whether it is products to make their lives easier or health care items, this market is growing and can in many cases foot the bills;
  • Employment assistance – With many Americans out of work, a large number of them have still not given up hopes of locating a decent paying job. In turn, individuals need services such as resume writing, assistance in job hunting and more. Creating a one-fits-all service for such needs could prove quite valuable in this day and age;
  • Retirement services – As more individuals look at the possibility of having to work longer to meet their financial needs, they need retirement advice in the process. If you have sound financial planning skills and are qualified to work in such an arena, this can prove a steady source of clients;
  • Home repairs – Given that more consumers are looking to save money on their home repair needs, qualified and inexpensive service providers can pick up some steady and decent paying work in this area. The obvious catch here is being both talented and covered by insurance prior to working on someone’s home or business;
  • Health and Fitness – With more Americans being informed by their health professionals that they need to lose weight, lower cholesterol levels etc. it only makes sense. Properly trained fitness experts can cash in on such needs by either opening up their own studios or even coming to people’s homes to help them with their fitness needs;
  • Home organizer/planner – As more and more Americans find it hard to fit all they need to do into a 24-hour period, business planners and organizers can be a great asset to individuals. If you are good at organizing and planning things, your services can be a great small business need for countless individuals;
  • Auto repair – Even when people are struggling financially, 9 out of 10 still need their cars to get them around. Qualified mechanics that may be looking to branch out from their employer and open their own shops can potentially drive off with a good income. Finally, be ready to take on the added responsibilities of running your own shop, both good and bad.

These are but a few of the small business ideas that you should consider if you’re looking to open up your own company.

Running a small business takes time, patience, money and a commitment to seeing the job through.

If you think running a small business is a small task, think again.

Photo credit: Businessinfoguide.com

Dave Thomas, who covers among other subjects’ document management and HR software, writes extensively for Business.com, an online resource destination for businesses of all sizes to research, find, and compare the products and services they need to run their businesses.

5 Inspiring Lessons Entrepreneurs Can Learn from Steve Jobs

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A Guest Post by
Rahil Muzafar

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What Lessons Will You Keep?

By the time this post goes live, millions of words would have already been said, written and discussed about Steve Jobs – the man behind 21st century’s technological revolution. I don’t think any words coming from me would justify the greats of this man. Therefore, I prefer to talk about his inspiring words rather than of the man himself. No words can fill the void he left behind, and because he is a legacy that lives on in his work, I find it a necessity to discuss about his professional feats and their impact on us.

Until earlier, I admit, I was naive enough to think of him as just the CEO of Apple Inc. Never did it cross me that this man was a genius; that he did not only give the world some pretty usable devices, he also made sure his customers became die hard loyalists to Apple. How did he do it? What did he believe in? These are answers that can be found right in his words. Being an entrepreneur there were some amazing words that I found to be not only inspirational but also very practical for people who are looking to make it big. Here’s what I am talking about.

“But Apple really beats to a different drummer. I used to say that Apple should be the Sony of this business, but in reality, I think Apple should be the Apple of this business”

Lesson: Create Your Own Identity

Inspiration should not be mixed with derivation. You should be inspired by the greats – yes; but you should never want to “imitate them”. This is exactly how Apple created its unique identity through the looks, the functionality, and even the internal features of its products. You will not find an Apple product that tries to impersonate another product. There’s always something very distinctive in all of their products. Note that the focus here is not just on unique design or looks, rather on a unique imagination and approach to your business. You don’t become a “great” by mimicking some “great”.

“For you to sleep well at night, the aesthetic, the quality, has to be carried all the way through.”

Lesson: Never Compromise on Product Quality

If quality isn’t your priority, forget about getting customer loyalty. This quote is applicable to all professions coming from all walks of life. Be it engineering or designing, every product must satisfy the eyes of the customer. When a customer’s aesthetic sense gets lured, there will be a natural curiosity to know more about the product. If your service/product satisfies both the customer’s eyes and the purposes, you can put your feet up and relax because you are on solid grounds.

“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.”

Lesson: Do Not Let Failures get in the way

Let’s face it. Being an entrepreneur and a visionary is not easy. And who knows this better than Steve Jobs! Being fired from your own company is a devastating experience, even more than experiencing some financial loss. But this is what makes the “man” so special, he didn’t give up (Started another company, and just kept going) He was back within a year and ever since he became the epitome of company’s success. Lesson for us, never lose confidence in your abilities even when others are writing you off. There are times when you’ll fail in a grand manner, but that’s what entrepreneurship.

“And it comes from saying no to 1,000 things to make sure we don’t get on the wrong track or try to do too much. We’re always thinking about new markets we could enter, but it’s only by saying no that you can concentrate on the things that are really important.”

Lesson: Focus on Your Niche

The problem with following a success story is that it leaves no room for originality. The moment a business gets successful, euphoric optimism settles in. You start thinking of endless possibilities and try to put your foot in everywhere. This is where focus decentralizes and the business goes awry. Apple was a global leader in manufacturing systems; smart computing systems. The company did not try to be what it was not; it did not try to jump from market to market. All it did was to focus on improvising its core products and making sure people get systems that have never been manufactured by companies before. When you learn to devote time, energy and efforts into developing, enhancing and updating every part of your niche business, you are bound to be successful. Being haphazard in your approach can never get your business the strength, the success or even the attention it deserves.

“Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying we’ve done something wonderful, that’s what matters to me.”

Lesson: Money should not always be the Sole Purpose

Many wouldn’t agree with me, but money should not be the “only” motivation for you to do anything. It’s true that money is naturally every man’s goal, but you should also realize that the world’s best feelings don’t have anything to do with the richest man; rather it comes from being able to do something which is close to your heart. Entrepreneurs need to look beyond the objective of being profitable. And don’t get disappointed when the cash flow is not as good as expected, because the disappointment might result in bad decisions in a desperate attempt to be financially successful. If you keep money as the sole objective, you will miss many occasions to celebrate.

Rahil Muzafar

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Author’s Bio:

Rahil is an SEO expert, and writes on topics related to Internet Marketing. He’s working for smartpress.com that offers quality sell sheet printing service

Thanks! Rahil!

–ME “Liz” Strauss
Work with Liz on your business!!

Should Your Company Be Hip to Online Marketing?

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With the different means available to advertise one’s small business, how much if any of a role should online marketing play?

As the economy continues to struggle and companies look to interact with current and potential customers, online marketing can provide a major helping hand in giving consumers valuable information regarding your business.

That being said, many experts of how to go about marketing your company will tell you there are pluses and minuses to online marketing. So, which side do you believe in?

On the positive side for online marketing:

  • You gain increased access to potential customers who are able to view your products and services, thereby enhancing the possibilities of more sales;
  • The cost to promote your business online is less expensive than other forms of marketing like print and television advertisements;
  • Given the 24/7 lifecycle of the Internet, you can talk with your customers and interested individuals in real-time. With a mass e-mailing, you can also reach out to far more people than you could with other mediums;
  • With 24/7 Internet access, you have the availability of instant feedback from your audience. With that in mind, you can make nearly instantaneous corrections etc. if needed to your product/s.

On the negative side for online marketing:

  • Having an Internet presence will also invite additional expenses such as running the company Web site, deciding who will oversee the online marketing efforts, and being able to instantaneously reach out to customers who will go to the competition if they don’t feel like they have received quick assistance;
  • Not everyone flocks to the Internet for their shopping needs. While the Internet presence is important, keep in mind that there are a number of other ways to make sales;
  • With online marketing or anything online for that matter, there is always the possibility of security issues. Fraud is a major issue to deal with online, so you could miss out on potential customers who would otherwise use the Internet to shop with you;
  • Technology mishaps can always lead to glitches in your site, including it being down for an undetermined amount of time. If interested individuals come to your site and are having problems with it, they could go elsewhere to handle their business.

At the end of the day, your company needs to remember that online marketing is not perfect, but it is a rather inexpensive and catchy means by which to reach out to consumers.

When engaging in online marketing, make sure your company checks out all its options, including pay-per-click and banner advertising.

Online marketing can be a great way for your business to get its message out to countless individuals instantaneously and at the right price too.

Photo credit: pinnacle-websolutions.com

Dave Thomas, who covers among other subjects’ vehicle insurance , writes extensively for business.com an online resource destination for businesses of all sizes to research, find, and compare the products and services they need to run their businesses.

 

Should I Follow My Dreams and Open a Small Business?

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The dream never dies for many individuals who envision the thought of starting up their own business and realizing part of the American dream.

With the present state of the economy, however, there are many who fear that the timing for opening a business is not good presently and may not be good for some time to come.

The present timing, however, may actually be good for starting up a business, especially given the fact that the job market continues to remain sluggish at best.

If you’re contemplating thinking about opening a business, here are some things to consider:

  • Compile a professional business plan – Never go into battle without a solid plan, especially when opening your own business. The most important aspect of the plan should be the financial angle, detailing how you will see a return on investment (ROI) sooner rather than later. Unfortunately, too many individuals fail to put together a winning plan or even a plan in general, leaving them ripe for failure;
  • Employees or all on my own? – One of the big questions for individuals is deciding if they will go it alone or have staff on board to help them with their business. On the plus side of going it alone, you are saving on salaries and possible health benefits, along with not having to look after others, whose decision making can impact your business at times in a negative manner. On the down side of going it alone, you are tasked with much more work and effort, leaving you little time for anything else;
  • Don’t be afraid to seek advice – For too many people starting out on their first small business venture, they’re afraid to get advice from other like professionals, including possible competitors. While you don’t have to ask 100 questions, do not be afraid to have some discussions with others who have successfully turned their dreams of owning a small business into a reality. Owning a small business is a continuous learning process, so be prepared to learn seven days a week;
  • Have a Plan ‘B’ in place – While you have to have a clear and positive attitude when opening up your new small business, don’t forget to have other options should things not work out. How will you cope financially if the business does not take off or even has to close? Do you have enough financial resources in place to support you and/or your family if things fail? What timetable do you have in place if things are not working out to pull the plug on it? These are just some of the things you need to be able to answer sooner rather than later;
  • Stay positive – This is likely the most important but less thought of matter. It is very easy to turn negative when the bills start piling up, you hit a lull in customer sales, and the outlook is bleak. Throwing in the towel on your lifelong dream should only happen when you have exhausted every alternative and then some.

As you can see, opening your own small business, especially in today’s up-and-down economy, is challenging at best.

Then again, don’t you like challenges?

Photo credit: yourpassionatebusiness.com

Dave Thomas writes extensively for B2b lead generation online resource Resource Nation that provides expert advice on purchasing and outsourcing decisions for small business owners and entrepreneurs. He is an expert writer on items like factoring services and is based in San Diego, California.

Is There Light at the End of the Tunnel for U.S. Businesses?

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According to a report released Oct. 5, from Automatic Data Processing Inc. (ADP), U.S. companies brought on more workers in September than the previous month, however the number was not enough to put a dent in the large unemployment numbers nationwide.

While the ADP report brought some encouraging news, two separate reports unveiled the same day noted that layoffs increased rather dramatically last month, while service companies are not hiring additional employees despite the sector’s relatively stable growth.

Looking back at the brighter report, ADP and Macroeconomic Advisers LLC report that private-sector employers added 91,000 positions in September, an increase of some 2,000 jobs from the previous month. The government’s official jobs report is slated to be released on Oct. 7.

Is Minimal Growth Better than None at All?

While the news is somewhat encouraging in that the country appears at this point to be dodging another recession, the recent report also demonstrates that growth is coming in very minimal numbers at best, providing us with weak growth at best.

While everyone is looking for any signs of growth, we shouldn’t be deceived by the numbers.

Much like when gas prices are inflated to high levels, drivers think they’re getting a deal when they pay less for gas, the bottom line being it is still $1 or $2 above what they paid the year before. Improvement, but much better is possible.

As for expanding on the down side, a report from Challenger, Gray & Christmas points out there were sharp increases in layoff announcements for September, with businesses planning to cut some 116,000 jobs, more than double the August report and the worst in more than two years. The biggest cuts came among the government and financial sectors.

What is Your Business Doing to Grow?

With the recent numbers showing a mixed bag, has your company been impacted either positively or negatively when it comes to job growth lately?

For many companies, especially smaller businesses, growth has been hard when you throw in the added costs for health care that many employers have been dealing with. While the government has tried to throw some incentives in the direction of small business owners, a fair number of them have either stood pat on hiring or even laid off where they felt it necessary.

If your small business is contemplating hiring, do you plan on? –

  • Waiting until after the holidays?
  • Waiting until you see better jobs numbers and additional incentives from Washington?
  • Waiting until next year’s presidential election is over?
  • Waiting to see if health care costs come down?

Lots of questions still remain for many small businesses, many of whom are playing the waiting game.

Photo credit: gaebler.com

Dave Thomas, who has authored a number of articles regarding business phone service writes extensively for www.business.com an online resource destination for businesses of all sizes to research, find, and compare the products and services they need to run their businesses.