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INSURANCE
Who Should Consider Contractor's Insurance?
As a business owner, you need to have all your bases covered to protect your company. When it comes to insurance, this might mean establishing a contractor's insurance policy. Here are the FAQs to help you determine whether this coverage is right for you.

What is contractor's insurance? This coverage protects your business from obligations resulting from work-related incidents. If your business is threatened by lawsuits or other liabilities, contractor's insurance can shelter you from these costs.

What is provided by contractor's insurance? Basic business liability, worker's compensation, and commercial automotive coverage may be included with contractor's insurance. Typically, these policies can also be tailored to meet the unique needs of your business. You may need coverage for mobile equipment, personal property, materials that are being installed, or post-project claims.

Who needs contractor's insurance? A wide range of professionals can benefit from contractor's insurance. These include independent tradesmen, subcontractors, and contractors. Trades that most often need contractor's insurance include construction, plumbing, carpentry, landscaping, painting, electrical, HVAC, masonry, and flooring.

How much does contractor's insurance cost? Premiums for contractor's insurance vary by policy. The type of work that you do and the risks you encounter determine the rate. It's important to customize your coverage to match your specific business. Reach out to our office to review the needs of your business and receive a personalized quote.

Whatever your industry, the cost of not having contractor's insurance can easily outweigh the cost of coverage.

 
HOT BIZ TRENDS
Should You Join the Subscription Movement?
 
Have you considered a subscription model for your business? With a subscription, customers receive regular deliveries of products or services rather than placing individual orders.

Why would you want to offer a subscription? The subscription model offers benefits for both you and your customers.

Subscription Model Benefits

For starters, the subscription model provides a predictable income stream. Knowing that you can count on a certain amount of revenue each month enables you to better manage cash flow, inventory, and resource allocation.

Because subscription billings are automatically deducted from clients' accounts, you also eliminate the cost and hassle of collections.

Another benefit is the opportunity to upsell. As you evolve your relationship with subscribers, you build brand loyalty and learn more about your customers.

This enables you to offer additional services targeted to their specific needs. These may be ancillary services, premium services, or discounts for longer-term subscriptions.

Finally, the subscription model provides data that you can use to keep track of recurring revenue, conversion rates, return on advertising investments, and much more.

Getting Started

The first step to adopting a subscription model is to design a version of your service with a standardized package of features that can be delivered each payment cycle. It's a good idea to offer several options.

You may also want to consider offering free trials when you're first starting out, to encourage early adopters.

Additionally, make sure the platform you are using supports automatic billing via credit card and the ability to collect customer data and preferences.

 
ENTREPRENEURS
Transform Your Training from Monotonous to Memorable
Good trainers employ a blend of psychology, creativity, and thorough preparation to deliver truly effective and memorable learning experiences. They earn our engagement. Want to join their ranks? Here are some tips to make your presentations, trainings, and workshops soar.

Make the content relevant. Do some research or send out a preliminary survey to identify topics attendees want to hear about, issues they want to address, and information that will be useful to them. Create content and ask questions tailored to attendees' roles and responsibilities and the challenges they face in their jobs.

Create a conducive learning environment. A bright, airy, inviting space is way more conducive to learning than a bland meeting room. Also, remember that people learn in different ways, so use a variety of audio and visual presentations, interactive exercises, handouts, and small-group discussions. Avoid death by PowerPoint. Kick off every session with a brief overview of what attendees will learn and how the information will help them achieve their objectives.

Use props, games, music, and mini-contests. These liven up sessions and help people focus on learning goals. You can also use music to energize attendees before the session and during breaks and to settle things down when it's time to concentrate.

Tell stories. Make your content relatable to everyday life by using examples, case studies, and anecdotes. Stories, in fact, are central to how memory works.

Keep it short. Limit working sessions to two hours, and provide enough breaks so attendees don't get antsy and can check email, grab coffee, or return phone calls.

 
INSURANCE
Cybersecurity Glossary: What You Need to Know
 
According to information from Cybersecurity Ventures, cyberattacks are the fastest-growing crime in the world. Yet PricewaterhouseCoopers reports that less than half of companies are sufficiently prepared for one of these attacks.

Is yours?

A good first step to protect your company from cybercrime is education. Learn the language of the world of cybercrime to increase awareness. Use the following list of basic cybercrime terms to get started.

Access control: This involves permitting or prohibiting access to information or physical locations. Proper monitoring and limitation of this access is essential to maintain company security.

Cyber insurance: This coverage protects your business from damage that results from electronic threats to your operations, including liability and recovery costs.

Cybersecurity: This encompasses all policies, standards, and strategies relating to the security of company operations that occur in cyberspace.

Encryption: This is the process of converting data from basic format into one that can't be easily interpreted by those who are unauthorized to access it.

Hacker: A hacker is someone who attempts to gain access to a system in an unauthorized manner.

Incident response: When a cyberattack occurs, the activities that occur to address its effects are referred to as an "incident response." This involves responding to the crisis, mitigating potential threats, preserving property and information, and analyzing response activities for optimal results.

Intrusion detection: These processes analyze information from security systems to determine whether a security breach has occurred.

Keylogger: This software tracks keystrokes to monitor a user's actions.

Macro virus: A macro virus can replicate and spread itself by attaching to documents and using the macro capabilities of an application.

Malware: This software performs unauthorized processes that compromise the integrity of a system.

Passive attack: With these types of attacks, the perpetrator doesn't try to alter the system but simply makes use of it to obtain information.

Phishing: This refers to attempts to deceive people into providing sensitive information.

Redundancy: These are additional systems or subsystems that are operated to maintain functionality if another system should fail.

Spoofing: This involves impersonating an email address to gain unauthorized entry to a system.

Ticket: In relation to access control, a ticket is the data that authenticates someone, as a credential for that person to gain access.

Trojan horse: This type of computer program appears to be useful, but has a hidden function that circumvents security and accesses confidential information or otherwise negatively affects the system.

Worm: This program is self-contained and self-replicating and uses networking mechanisms to spread itself.

Would you like to learn more about cybercrime, cyber insurance, and what coverage is available to protect your business from cyberattacks? Contact our office to review your current policies and determine what coverage is appropriate for your company.
 
 
 
 
 
   
 
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How to Win Big in Today's Economy
The altered economic landscape presents innovative and nimble businesses with opportunities to thrive.
Find out how by requesting my free report "How to Win Big in Today's Economy" by replying to this email.
Just reply to this email and I'll send it right out to you.
 

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Worth Reading
25 Things to Do When You Retire
By Phil Taylor
 
USNews.com
 
Opportunities abound in retirement. You can remodel your home or downsize. You could purchase a mobile home or travel the world. You can take college classes, perhaps to learn the languages you'll need in your travels, or gather the knowledge you've learned and teach others. Just make sure you clearly understand your budget and how your plans fit within it.

Writing an "About" Page for Your Business Doesn't Have to Be Hard
By Pratik Dholakiya


Small Business Trends

Writing an impressive "About Us" section for your website is important, but it doesn't have to be complicated. The basics include understanding what your potential customers need, how your company's story and products fit their needs, and why they should trust you to fix their problems. You want visitors to desire further interaction with you after reading about you, so make sure it ends with a way to further the relationship.

10 Indicators It's Time to Expand Your Business
By Rieva Lesonsky


Fundera.com

Business expansions are only good if they're done well. Before you add a new product line, service, or location, consider the following: Make sure you have a reliable and loyal customer base and steady income. Have good employees or contractors and logistical processes to retain and train them. Make sure your expansion is profitable by managing it properly.

LINKS YOU CAN USE
This Month-Modernizing
In today's fast-paced marketplace, businesses must remain on the cutting edge to survive. This means accessing the latest digital tools and continually striving to modernize operations. Sound like a daunting task? It can be, but the following links can make this process more manageable.

The right strategies are essential as you modernize. Find key principles to follow here:
10 Principles for Modernizing Your Company's Technology

Want to optimize your business with the most modern solutions? Here are 10:
10 Steps for All-Around Optimizing Your Business

Modernizing requires updating your marketing approach. Use these tips to transform your tactics:
How to Modernize Your Traditional Marketing Strategy

Finding it hard to decide what aspects of your business to focus on for modernizing? Here are four key areas that merit attention:
4 Ways to Upgrade and Modernize Your Business

What should you do with old systems as you update to today's tech? Use these tips:
Modernizing Your Legacy Technology? Follow These 11 Tips
This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter.
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