Listen up, especially if you run a business from your home: About 60% of home-based businesses lack adequate coverage, according to a survey from the Independent Insurance Agents & Brokers of America. Don’t be part of that 60%.
Here’s why it matters. What if a deliveryman slips and falls on your front step while delivering parts for an order? What a child gets hurt at a home daycare? In either scenario, the business owner could find his or her finances on the line because of a lawsuit. Many home-based business owners leave their livelihoods to chance because they believe their ventures are covered under their home insurance policy – a big misconception. A typical homeowner’s policy, for example, provides only $2,500 coverage for business equipment, which is usually not enough to cover everything a business owner might use. Additionally, the homeowners policy won’t provide any coverage for liability issues associated with the venture.
If you work from home or own a home-based business, keep the following are three basic options for insurance coverage in mind.
When starting a home-based small business, you hope it will grow into a thriving empire…or at least a reliable ongoing income source. The key word is “grow.” And as your business grows, you’ll likely reach a point when you’re selling all you can produce without making serious changes to your business plan. Here are some ideas to help you overcome that plateau.
The process of starting a business is usually associated with that of accumulating large sums for start-up capital and marketing campaigns. Businesses have now moved away from that sort of thinking and have found easier and more innovative ways to get their companies up and running without having to find an outrageous sum of money. This calls for a total change in the mindset of the budding entrepreneur and a level of commitment to the process.
Starting a Business with Zero Capital
This will be a challenging task with many hurdles to jump, but once you are dedicated to the process you will make it. Here are a few tips.
There isn’t any big secret to getting your business brand and name out there these days, especially with so many social networking websites available at your disposal. If anything, it’s only getting easier! Not only easy, marketing a home-based business is more affordable than ever to work with, made possible with great word of mouth and social media. We scoured the web in search of a few good tips on marketing and found plenty, most of which we incorporate into our own line of work.
1. Know and Believe in Your Business Inside and Out
You just started a home-based business. Congrats! Now, er, what is it that I’m selling or providing others?
If you don’t know or if you do and just aren’t passionate about it, then how can you expect your business to take off? We know and understand our business like the backs of our hands and are always ready to describe ways that entrepreneurs can begin forming an LLC or corporation with the help of MyCorporation. When you care for and are inspired by the work that you do, it shows and others will be able to pick up on it. Moreover, they’ll want to be involved with what you do and are more willing to support a company that believes in what it does and the services it provides.