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Safeguarding Your Business in Difficult Times

Safeguarding Your Business in Difficult Times

Although purchasing California business insurance is a smart way to help protect your business from the expense of unexpected disasters, in today’s economy small business owners have to do a lot more to safeguard their business success. It’s more urgent than ever to be smarter and more innovative with business tactics. Here are some tips.

• Appearance: when times are difficult many people feel vulnerable and scared. Typically, these people may be influenced by places and other people who present the appearance of strength or exude a sense of being in charge. Use this to your advantage by optimizing your appearance and the appearance of your business, focus on clean, tidy and inviting.

• Make your business presence known: expanding brand awareness and generating goodwill may be as simple as offering to speak at colleges or community groups about your business experiences. Another relatively easy way to expand your presence could be by showcasing your products at relevant community events, fairs and markets.

• Network within your community: study your own community with the goal of locating places and events suitable for networking. Discussing your business activities with other business owners may lead to useful connections and unique business opportunities.

A combination of local and innovative marketing may help your business survive difficult times and thrive when the economy improves. Keep in mind your California business insurance coverage needs to keep up with your activities so if you’re ever unsure about the coverage you have in place, speak to your agent.

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Consider Leasing Equipment for Your Small Business

Consider Leasing Equipment for Your Small Business

Starting up a small business usually comes with a lot of decision making, from purchasing the appropriate California business insurance to what brand of coffee is stocked in the employee break room. One decision you might want to consider, is researching whether to lease or buy your business equipment.

Depending on your field of expertise and the type of equipment you need, leasing may provide you with a cost effective alternative to purchasing.

Here are three potential advantages to leasing business equipment:

• Cash flow: when you’re just starting out in business often there isn’t a lot of money to spread around, so a monthly leasing fee may be a better fit for your budget.

• Support: usually technical support is part of a lease agreement. This may mean if a problem occurs you have access to rapid, professional help.

• Keeping up-to-date: with technology continuing to advance at a dizzying pace, leased equipment may allow you to keep up.

Keep in mind that although there are advantages to leasing equipment, there may be disadvantages that you need to take into your considerations. Whether you choose to lease or to buy your business equipment, it’s vital you ensure your California business insurance provides the correct amount of coverage.

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Employ the Right People for your Business

Employ the Right People for your Business

Although opening a new business can be exciting, it usually requires many tasks to be completed before the doors open, such as purchasing California business insurance, setting up security systems and interviewing job applicants. Employees can be a business’ greatest asset, so it’s vital you get it right.

The size of your business and your area of expertise should determine how many employees you need to ensure your business runs smoothly. Start a list of the specific skills necessary for each particular job. For example, a meticulous, orderly person would be suitable for an administrative position, whereas a sales position would better suit a person with exceptional people skills.

You’ll need to write an accurate and detailed job description to attract suitable applicants. A quality job description should include job title and objectives, tasks and duties, location and equipment, qualifications and a salary or pay range. Job descriptions are necessary for employees to fully understand their expected roles, but they shouldn’t be viewed as a contract and can be written with future flexibility in mind.

Although small businesses often don’t bother doing background checks on potential employees, it should be a consideration. Did you know if an employee harms or steals from one of your clients and is found to have a criminal background, you may be held liable and sued? You probably have liability coverage in your California business insurance policies, but lawsuits can involve vast amounts of money and loss of business reputation and are best avoided if possible.

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De-cluttering your Home Office

De-cluttering your Home Office

Protecting your business with California business insurance is always a wise consideration, but unless your business is successful you may not have much to protect. Regardless of the type of work you do, if your office area is untidy, visitors and clients may assume your work ethic is also disorganized.

When it takes extra time to wade through stacks of papers to find an important document, it’s a waste of your valuable time that could be better spent generating money. Consider purchasing boxes in different colors for documents you regularly deal with, such as invoices and contracts, rather than using difficult to see labels. For valuable papers you need to have within reach, consider document size stackable trays, again you could use different colors for identification purposes.

Initially organizing documents into a filing cabinet can be a chore, but once it’s completed it may save you a lot of time. Only keeping current documents in your filing cabinet may help keep it as neat as possible. Documents which are unlikely to be needed in the future, but need to be kept for tax purposes should be boxed, clearly labeled and stored out of your office if possible.

A tidy office may help boost your motivation and your productivity along with improving your clients’ and visitors’ first impression. Bear in mind important documents that you don’t need every day, such as your California business insurance, should be securely stored in a place that is easily accessed.

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Business Ideas – Keep Your Options Open

Business Ideas – Keep Your Options Open

Are you looking for ways to diversify and expand your small enterprise? It’s not quite as simply as choosing the right California business insurance! For many creative entrepreneurs the problem isn’t so much coming up with an idea, it’s choosing from the right idea from the constant onslaught of ideas they get. Not everyone is blessed with such a flow of idea so if you’re having trouble finding the right new direction, here are some things to think about.

•Current events. By keeping up with new fads, law changes and industry news you may be surprised at the potential business opportunities that pop into your mind.
•Redevelopment and improvement. People often overlook the possibility of re-developing an old product to make it environmentally friendly, more economical, or just better.
•Existing skills. Sometimes expanding your existing skills and knowledge can allow you to offer more comprehensive services or to specialize.
•Foreign markets. Shift your business idea thinking to include foreign markets; you may already have a business idea that could work extremely well in another part of the world.

Keep an open mind, and evaluate everything you hear, read and see from a business opportunity point of view. In the excitement of finally finding your next business niche, remember one of the first steps you should consider is re-evaluating your California business insurance to establish if changes are needed – your agent should be able to assist you.

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QR Codes May be the Next Big Thing in Mobile Marketing

QR Codes May be the Next Big Thing in Mobile Marketing

Over the last two or three years, QR or quick response codes, have become familiar to people who use social media. Although they’re still evolving, there may be considerable potential for QR codes to help increase future income for many businesses. A QR code is a small square that looks a bit like an aerial view of a maze. Commercially, it is usually positioned on the main label of a product. Once scanned by your smart phone, you’re taken to a custom mobile landing site that conveys information related to the product or company. These incredible new business concepts and techniques may create new risks and liabilities, so remember to regularly review your California business insurance with your insurance agent.

Here are two ways QR codes may potentially be used in the future:

•Restaurant menus. Zap your smart phone over the QR code next to your choice and you may be provided with a list of the ingredients, where they were sourced and how they are prepared, along with a breakdown of the nutritional qualities of the dish.
•Business cards. You can keep your business card uncluttered and professional on the front and offer additional information by means of a QR code on the back.

Although these functions aren’t fully developed yet, not too far in the future QR codes may become a valuable form of rapid, convenient information gathering. Who knows, maybe someday your California business insurance policy will come equipped with a QR code.

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Consider a Host-beneficiary Partnership for Successful Customer Referrals

Consider a Host-beneficiary Partnership for Successful Customer Referrals

While you can typically rely on your insurance agent to help you find appropriate California business insurance, advertising to connect the right customers to your business may not be as easy. Advertising can be expensive and sometimes ineffectual, but what is the alternative? Take a moment to think about customer referrals. They cost nothing, and because your business has been recommended by a friend or acquaintance, the beginning of trust has already been established.

One of the best ways to boost referrals while thanking your existing customers is to ask your new customers to fill out a basic survey/questionnaire discreetly asking them to identify their referral. Make a point of sending the original customer a thank you note explaining how it is customers like them who play a significant role in keeping your business viable. This makes the customer feel appreciated and more likely to continue referring your business.

One of the latest successful trends in customer referrals is where two companies with a similar customer target, team up together. For example, a florist might team up with a local chocolatier to gain exposure and prospective customers. One business sells a product while offering a freebie or discount for the other business and vice versa.

Like California business insurance, advertising and marketing is essential for all businesses, but with a little imagination and positive partnerships it doesn’t have to be expensive. This type of marketing is known as ‘host-beneficiary’, so look up the local businesses that have a customer overlap with your own and consider discussing a host-beneficiary partnership.

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The Importance of Quality Market Research

The Importance of Quality Market Research

When it comes to starting a new business, there are some key things that should be researched or completed before you risk your startup funds. Perhaps the most important first step is researching your market to confirm your business idea is viable. Completing a comprehensive business plan is another essential step and you should factor in the cost of California business insurance.

Here is a basic summary of how you could conduct your own market research:

•Primary research. Asking your target demographic relevant questions is the purpose of primary research. This can be achieved by a mail questionnaire, a phone survey, personal interviews and/or group discussions. Depending on the quality and volume of the answers you receive, it might not be necessary to cover all these areas.

•Secondary research or sources. This part of your market research involves assessing current information and statistics that have already been collected. The business department of your local public library is an excellent place to start. Next step is checking trade associations and organizations for commercially sourced data. The final place to check for pre-sourced information is educational institutions such as universities and colleges.

You can hire professionals to perform this critical step on your behalf, but the cost may be prohibitive, so take your time and remember the outcome may determine the success or failure of your business idea. Should your research go well, move on to writing your business plan, taking into account the cost of the California business insurance coverage you’ll need, along with any other start-up costs.

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Present your CA Home Based Business Professionally

Present your CA Home Based Business Professionally

Moving your business to your home comes with many challenges, such as adjusting your California business insurance coverage for your new business circumstances, and keeping your personal life separate from your professional life. One of the biggest challenges faced by some home based business entrepreneurs is how to maintain a professional atmosphere while meeting with clients at home.

What is acceptable to visiting clients can depend on your area of expertise and the type of clients you aim to attract. A mom making an income sewing children’s clothing may find customers are perfectly comfortable discussing designs amid normal family chaos. On the other hand, an individual offering professional services won’t look particularly professional if pets and children are causing a distraction during meetings.

It makes considerable sense to have an area dedicated to meetings with clients. Once you have your space chosen and cleared, then you may want to redesign it to suit your clients’ needs and your business image. Don’t dismiss aesthetics as a philosophy only rich people consider. A client meeting room that has a combination of comfort, beauty and professionalism may be an immense asset to your business.

Not everyone has a spare room they can turn into a suitable business area. A solution may be to rent a client meeting space in a serviced office complex on an hourly or occasional basis.

Moving your business to your home isn’t likely to negate the need for some types of California business insurance but the move may necessitate some adjustments to your coverage. Speak to your agent if you’re unsure how the move might affect your insurance needs.

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Keeping Commercial Truck Insurance Premiums Down

Keeping Commercial Truck Insurance Premiums Down

There are many reasons why your commercial truck insurance premiums may increase. A lot of the time it’s out of your hands, but there are some things you can do to improve the chances of keeping your premiums low.
•Ensure your credit score remains high. Many insurance companies now include your credit score as part of their risk assessment process. Some insurance companies believe a person with a poor credit history may be a less careful driver.
•Check potential drivers’ accident history. Only allow drivers with an exemplary driving record to drive your trucks. Because you may have to list all possible drivers and their driving history on your insurance application, an employee with a poor driving history may increase your premiums. A driver with a poor driving history may also place your truck at greater risk of an accident.
•Safety and maintenance compliance. Most truck drivers are familiar with the Department of Transport roadside inspections but did you know insurance companies may review this information when determining your insurance premiums?
•Have a safety policy. Implementing a quality safety policy may help your drivers be more aware of safety issues.

A truck is a huge investment, and in many cases may be responsible for your livelihood, so it’s crucial you protect it with the appropriate insurance. Commercial truck insurance may be costly, but it’ll cost you a lot more to replace or repair an uninsured truck.

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