Underwriting is a vital part of the financial and insurance industries. An underwriter is effectively the person that assesses risk, and determines the suitability of potential clients looking to avail of whatever service their employer provides, be it insurance, a loan, or capital. Underwriters have the responsibility of defining the terms within which the service will be offered. And, because of this, they are in very high demand. After all, without a qualified underwriter, lenders and insurance agencies would be lost. But how do you become an underwriter? And can underwriters work independently as a small business?
What do you have to do to become an underwriter?
Normally, you at least need a bachelor’s degree in finance, or another business-related field. Underwriters also have to be meticulous, detail-oriented, and thorough. Continue reading
Welcome to our weekly post on small business industry! We took a couple of weeks off for the holiday, but now we are back and ready to tackle S – Stockbrokers! The financial industry is notoriously complex, so starting your own, private brokerage firm can be a bit tough. However, with a bit of experience and all of the right qualifications, it can be done!
Are stockbrokers heavily regulated?
Yup! Independent brokers have to jump through loads of regulatory loopholes before they’re allowed to open their business. Continue reading
2015 is officially here! And business forecasters all across the internet are scrambling to their crystal balls to give their predictions as to what is, and isn’t, going to work in the new year. Of course, if you regularly follow our blog, you’d know we beat them by a good month with our infographic “2015 Small Business Industry Predictions.” But just in case you missed it, or you want a refresher as to what we think will be the best industries to start a small business in, here’s a quick rundown of what we think is going to happen.
What industries are going to do well in 2015?
Your company has finally blossomed into more than just a “good idea” in your head, and things are up and running. Maybe you’re still in your best friends’ garage, maybe you’ve got an office, maybe you’ve even got an entire office building. Doesn’t matter, because these days, your company’s appearance is all online.
Welcome to the world of social media, where everything is all about the presentation. While there are several resources around the web that describe the value of social networking for business, this overload of information can make it difficult to determine exactly what small businesses should and shouldn’t do when engaging in social media for their brand. Let’s take a look at some social media dos and don’ts for your small business: Continue reading
Collaboration is crucial for your business to thrive. But implementing collaboration tools within any organization is not an easy task to do. Here are three typical mistakes made when imposing collaboration tools in a company and ways to avoid them:
When you supply your company with new technology, help your employees understand why this change is occurring. If you point out all the solution’s benefits, your coworkers will be keen on accepting and using it. A recent study of U.S. based employers by Gagen MacDonald revealed that employees in companies which use internal social media (ISM) perceive their company as more innovative and 58% would prefer to work at a company that uses ISM and 86% would refer others for employment. People like technology as long as they understand why they should use it and how it can make their job easier. If necessary, take some time to train your employees on the use of software. Time lost on training sessions will be compensated on faster work performance with the use of collaborative tools. Continue reading
We are onto the letter P in our weekly ABCs of Small Business Industry posts, and this week we are going to look at the publishing industry! The publishing industry has had its highs and its lows over the last few years. And, with a few major publishers facing rocky business, it is too easy to assume that the industry is on its last legs. However, small publishing agencies may be entering into a bit of a renaissance, and now could be a great time for new businesses to get into the publishing industry! But how do you do that? And what proof is there that the industry is doing better?
What do you need to do to get started in the publishing industry?
Like most unregulated industries, you don’t need anything special to get started in publishing. A DBA and any local licenses and permits are, at the very least, what you need to open your doors. Continue reading
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The key to launching and running a successful business is to start with the right business concept. You need an idea that matches your skill and talent to customers who are ready to pay handsomely for what you have to offer. In the mini-course you use a proven 5-step formula to gauge the financial potential of your business idea. You discover insider details on ten popular ways to turn your great idea into a very profitable business enterprise. Additionally, you get 15 ways to decrease your costs and increase your business’s profits. Continue reading
We are onto M in our series, and this week we are looking at the marketing and public relations industry. Marketing and PR is often seen as a hard industry to break into. There are a lot of rival firms – some big and some small – and new businesses often have trouble figuring out how to stand out. But with a good amount of experience, the right contacts, and enough work ethic, it is possible for a company to succeed in the growing marketing and PR industry.
What do you need to start a business in the marketing industry?
Most experts say that the most important factor to a new firm’s success is marketing experience. You need friends and contacts to really succeed. And while it is totally possible to build a successful business with no experience in the marketing industry, it’s really, really hard. There are a lot of lessons you learn about marketing and PR by working within the industry, and a major part of that industry is who you know. Networking is much more effective than cold-calling.
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This week we decided to cover a relatively broad small business sector – the insurance industry. Now, the insurance industry is a heavily regulated, slightly complex field to work in. There are tons of hoops that independent agents and brokers have to jump through before they are even allowed to open their doors. But it is a vital industry – in some cases insurance is required by law – so a business could do quite well within it. So how do you start a company in the insurance industry? And is it worth all of the effort?
How do you get started in the insurance industry?
Insurance is a regulated field, which means you need to be licensed before you can begin. You also usually have to take some sort of course as well before the state will issue you your license. Continue reading