How To Legally Protect Yourself As A Business Owner

Tips To Stay Safe As A Startup
Alice Porter New

Picture this, you have grown your business from the ground up and have put in hundreds of man hours, have encountered countless sleepless nights and are now in a position to provide your services for your customers.

Now picture this, your service didn’t go to plan and now your business is in jeopardy. Many businesses fail within the first two years due to legal cases and financial sanctions that have been enforced on them from regulatory boards. If you’re smart and want to protect your assets, then you will firstly need to legally protect yourself by taking out an insurance policy.

There are countless benefits to taking out an insurance policy for your business, the most obvious being that an insurance policy can create a safety net for any mistakes that can happen, as they will cover any legal cover or generally just act as some form of support.

Before you decide on your insurance policy, there are some details that need to be accounted for in the long term. This could make a deep difference if an unhappy client is trying to claim against you.

Who needs insurance?

Across many business sectors, it’s a legal requirement to have some form of insurance, to protect your business and your employees should anything go wrong. There needs to be some form of protection in place no matter how careful and courteous you try to be. Mistakes happen to the best of businesses, so it’s important to protect yourself and to cover all aspects in the meantime.

Business insurance is a failsafe that will be good for your own security, but it will also act as reassurance for your potential clients, as you will have the correct paperwork in place, which shows that you have their best intentions at heart.

Insurance is particularly important for companies who provide a professional service, whether this is handling data to giving out professional advice. It’s recommended that businesses who offer professional services should take out professional indemnity insurance.

Mistakes happen

It doesn’t matter how experienced you are, there will come a time in your professional career where a mistake will be made. This could be a minor slip up, but nonetheless, there is a possibility that people will claim for negligence because of this. To avoid the potential catastrophic ramifications, it’s important to protect yourself with professional indemnity insurance.

Make sure you are selecting the right policy

Your business is one of a kind, so it’s not always straightforward to know how much your cover will be. There are several factors that need to be considered when you are taking out insurance. First and foremost, you must find out which policy suits your business and everything you’re looking to get out of it.

At first, a claim towards your business can feel earth shattering, but if you take out the necessary precautions and keep a level head, then the process becomes much simpler and much more manageable. As always with these things, they can be a confusing process, especially if you’re new to the business world. It always pays to do some reading beforehand or to speak to professionals who know what you’ll need and know how much you should be paying. Leading companies such as Caunce O’Hara and Aviva offer instant advice for those looking to get to grips with insurance policies so make sure you know what you’re covered for before you agree on terms.

Five Deadly Time Management Mistakes

How to Get Control of Your Time and Your Life
Cathy Goodwin, Ph.D.

Q. I am starting a new business as a web designer. Recently a client paid me less than $500 for a website. I spent hours and hours creating a magnificent, eye-popping site that would cost $1500 at market value. My client just thanked me ­ she didn’t even offer a bonus! I’m too busy with these low-paying jobs to go after the bigger assignments.

A. Whether you’re a business owner, corporate executive or independent professional, success means putting a value on your time ­ even when you feel, “I’ve got all the time in the world.”

Mistake #1: Confusing down time with extra time.

The Fix: You finish a project early. Or business is lighter than usual this week. Spend the extra time to market yourself for new projects, not tinker with current clients. If you’re working for someone else, use the time to make yourself more marketable.

Mistake #2: Donating time to people who can pay.

The Fix: Donate time to nonprofit organizations who can’t afford your fees. Before beginning get agreement that you may use this project in your portfolio, along with a signed testimonial on your website.

Occasionally you can offer a deal to a high profile client who will publicize your efforts. Submit an invoice with the full price and mark your deduction as a discount. Make sure you’ll get more than a vague promise to “drop your name everywhere.”

Mistake #3: Assuming clients understand your business.

The Fix: Communicate options. “Here’s what a $250 website looks like. Here’s what a $2500 website looks like.” When clients are new to your service, they rarely know the going rates. And they may not realize you’ll accept a bonus and rejoice in a testimonial.

Mistake #4: Forgetting to set boundaries.

The Fix: Explain exactly what’s included in your basic fees. Changes? Questions? Setting up the web hosting and domain name? Scanning and uploading photos? Fixing a spelling error?

Mistake #5: Thinking small.

The Fix: Learn what would it take to move from $250 to $2500 jobs. Maybe your own website screams, “I’m cheap!” Maybe you need to pitch larger accounts with bigger budgets. Practice saying aloud, “That will cost $500.” Then work your way up to saying, “nine hundred dollars” without choking on your own words.

Bottom Line: Alan Lakein wrote How to Get Control of Your Time and Your Life, the first (and some say best) time management book. He encouraged readers to ask Lakein’s Question: Is this the best use of my time right now? Tape the question to your computer and ask it often.

How To Choose The Right Corporate Uniform

It is not an easy task to reinforce your brand image into the customer’s and employer’s minds.
Andrew Black

It is not an easy task to reinforce your brand image into the customer’s and employer’s minds. All successful organizations have chosen the right corporate uniforms for their employees because they know they level of benefit they can get. Implementing a corporate uniform can help your business create the right effect in a very short period of time. It is not at all difficult to design a corporate uniform for your employees.

There are numerous ways to choose the right corporate uniform for your organization. The first thing you should know is that the corporate uniform should look professional and official. Some patent uniforms that were being used for a long time are of no use nowadays. They no more look professional and tend to give a casual look. A factor adding to their unprofessional look is the improper fitting. Corporate uniforms should fit reasonably well, neither too loose, nor too tight.

A professional corporate uniform should also focus on an updated logo at a suitable place over the uniform. This is very important because among a hundred other organizations yours should signify its identity through a well embossed name. Embroidering the logo on the uniform gives a sense of belonging to the employees which is necessary for an organization to climb the success ladder.

While you design an appropriate pattern for both male and female employees, look on for a suitable fabric as it is very important to make the work process easier for employees. The uniform material should be durable with permanent and decent colors.

Comfort should also be considered while formatting the uniform. Often employees wear clothes that look good on them but they are very uncomfortable working in them. This should not happen with the corporate uniform. It is essential to look professional and be comfortable at the same time.

With all the above mentioned specifications, the uniform should not at all be boring for the employees. You can select contrast of different bright colors for the uniform, however, this only confines to certain industries. Not at all organizations can follow this as it is usually meant to go well with the creative industry.

If you are confused about which colors to choose, check out the organization logo and coordinate different colors. Alternatively, you can choose a color scheme that contrasts the logo. This will bring out the colors of the logo brightly. Many organizations also prefer to have a black and white logo, but then again it depends on the industry your organizations belongs to.

Implementing a corporate uniform is a matter of choice for an organization. However, you can get the maximum amount of benefit for your business by doing so. It is not only gaining popularity among larger organizations, but medium and small sized businesses are also moving towards it.

Organizations implement uniforms for employees to gain maximum commercial benefits indirectly. Very few organizations realize the fact that these uniforms are an amazing long-term investment that builds your brand all over again starting from the employees to competitors to customers.

Andrew works for a promotional clothing company. He has helps many organisations with their imprinted promotional merchandise needs.

How To Design Your New Business

If you’re setting up a new business, and you have the ability to design the building how you want, there are a few different ways that you can do this in order to create the most effective customer experience. Before you do this however, you are going to need to design your perfect business model, in order to ensure that you have everything that you need as a start-up before you begin to put it into practice. One you have done this, you can then start to think about how you’re going to design your new business.

Innovation and Ideation

One of the main things to consider when it comes to designing your new business, is this concept of ideation – a generation of ideas. This is where people begin to explore areas that haven’t been explored to their true extent before, and this can apply both to your business model, and also the actual design of the business you’re looking to create. Offices such as Google are known for the way that they design their building, with VR headsets, bright colours and a techy environment – essentially making the ‘geeks’ pretty cool. Being open to all options is important, and you don’t have to run a strict office environment in order to be productive. Being innovative in your business design, both in model-type and the actual business itself may bring you out of your comfort zone to create something spectacular.

Shop Design

The chances are when you’re setting up a business, you’re not going to find the perfect shop design or office environment from the first place that you look at. In most cases, you probably won’t be able to create the perfect shop design until you begin to modify a building yourself, far into the future. While it is important not to settle for less than you want, just because you can, knowing your budget, and exactly where that can take you in the future. If you want VR headsets around your office, which may not be possible within the first few years until you start to make big profits and expand your company further. However, if you’re looking to open a retail store, it is important to know how to have an effective shop design to better customer experience. Knowing where to place your products, and how to design the layout of your store may even be the make or break between your business’ profits within the first year.

Be Flexible

One of the most important things that you need to know when it comes to designing your new business, is that your original ideas are going to need to be adapted in order for them to work properly. Being flexible will allow you to really open up your mind to a range of possibilities and may even make your idea more viable, or crazier than ever. Being flexible with your initial idea can really help you to push the limits, to create an innovative business idea that is likely to be a hit with your customers.

Payday Loans: Some Helpful Tips

Payday loans are short term loans that help you meet your financial needs. Usually, people go to a bank to get this type of loan when they are in an emergency and need financial support. However, the catch is that if you fail to return the loan amount, you will have to bear a heavy amount of interest, which is, sometimes, 200% of the principal amount. So, If you have to pay your loan back on time, you may need some help. Failing to pay back the loan on time may create more problems for you down the road. Given below are 5 tips to help you with this. Read on to know more.

1. Consider your needs

Before you apply for a payday loan, we suggest that determine your needs first. Once you have understood your needs, you should not borrow more than what you need. Smaller amounts are easy to pay back than larger ones. Therefore, you should borrow the smallest amount possible to meet your needs. After all, your purpose to apply for the loan was to deal with an emergency. It’s not a good idea to opt for this option to buy something you want, such as a smartphone or camera.

2. Use what you need

Once you have got the loan, use as much amount as you need. For instance, if you borrowed $2,000, say, and you spent $1,000 to meet your needs, don’t spend the rest of the money on something you don’t need. Instead, you should put that money aside for repayment of the loan.

3. Set your priority

If you want to payback your payday loan, we suggest that you commit to the task. What you need to do is make you payments on time no matter what. If possible, you should get money from other sources to pay back the loan. For instance, you can sell something you don’t need on eBay, volunteer for a few days or work overtime. So, you may want to set your priorities should you want the bank to accept your application.

4. Electronic withdrawal

You can prevent payment delays if you let your lender withdraw funds from your account. This can cost you a lot of money. If this option is not feasible, you may have to repay the amount the expiry of due date. Failing to pay the loan on time will incur penalties and fees. However, you may want to keep in mind that online lenders require you to give them authorization for fund transfer.

5. Emergencies

It is a good idea not to take a payday loan unless you have an emergency. These short terms loans are designed in order to help people deal with unexpected situations and circumstances. So, they can be used for the purpose of covering emergency expenses.

Therefore, if you are habitual of taking out payday loans for ongoing situations and impulse purchases, you will find yourself in a lot of trouble down the road. These loans are not granted to help people buy the new model of their favorite smartphone.

As a matter of fact, your first priority should be to pay off your payday loan as soon as possible. This is the most important thing that you may want to keep in mind when applying for this loan. This will help you prevent things from making worse in the future.

Long story short, if you have been in trouble, we suggest that you borrow funds from your friends, relatives or colleagues. Payday loans should be your last resort when you have no other option to consider. Hopefully, these tips will help you make the best choice.