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Insuring Your Small Business Success by Ben Needles
Over Easter there was a large fire at Coorparoo in Queensland, where a number of small businesses were burnt out. This is a devastating event for any business, but what made it more so was that a number of the small businesses were not insured.What was the effect? Let me tell you about one small business and the effect this has had on them. This small business was a service business; they were starting to get a brilliant reputation in the industry and had a number of major contracts on the go. They had employed a number of staff to work in the business and things were looking rosy. Insurance was on their to do list, but as things got busier and busier it never seemed to make it to the top of the list. As their information was critical to their business, they regularly backed up all of their computers. Then the fire struck and the business was totally burnt out. All the computers melted and as they did not take the back-ups off site, the back-up system was also melted. All of their data disappeared in a puff of smoke, as did all of their client files, project notes, fixtures and furniture.Instead of generating income, they now were faced with additional costs of trying to recreate their data from their memories and from clients. Their employees suddenly lost their jobs as the company could not afford to keep paying them with no income coming in, and their big contracts looked very shaky. To make it worse the principal of the business was 6 months pregnant. She is now faced with the very real and hard decision of whether or not to close down the business or to try and start it all again from scratch at a time in her life when she should be slowing down. At the moment she is working from her kitchen table and still sorting out her needs and priorities. What would you do in her situation?Why dont small businesses get insurance? When talking with them I hear 4 common excuses:1.Too expensive - we cant afford it now2.(For home based businesses) Doesnt my house insurance cover me?3.I am getting to it4.I believe in the law of attraction - I wont buy into the fear of insuranceAll of these excuses are very limiting and will cause your problems. If you believe business insurance is too expensive start to add up the costs of starting from scratch. Also look at the message you are putting out about the value you place on your business and how important it is to you. For a home based business - no your general home insurance does not cover your business. In case of theft, fire or other disaster your business and computers will all disappear not to be replaced.If you are getting to it, what will it take you to move it up your priorities?In terms of the law of attraction if you focus on the loss of your business, yes you could be creating a problem. However, the law of attraction does not say ignore the problem. All of the best teachers suggest you need to be conscious of potential issues, take steps to offset the risk and then dont put any more energy into worrying about it. By taking out insurance you think about the problem once and then forget about it until you need it. By not taking out insurance you carry a permanent low level concern that maybe your business will be broken into, burnt out or otherwise challenged. I can tell you which is more likely to generate the result you dont want to get!There are many business insurance policies out on the market, each of them different and with different inclusions and rules. If you are not comfortable with researching the policies, you may want to think about an insurance broker to help you find the right cover for you.So what should you insure?Assets - you need to insure your assets against things like fire, theft, storms etc. Other things you may want to consider include business interruption insurance (covers you in case your business is interrupted because of damage to your property as well as cover to rewrite material if your back-up didnt recover effectively etc), insurance to cover you if an employee embezzles or misappropriates money, machinery breakdown and vehicle insurance.One of the things to remember is that most policies dont cover your laptop or mobile phone. They need to be specified in order to be covered so double check this with your insurer. People - if you employ people you need to ensure they are covered with workers compensation and superannuation, but if you are self employed you may need to consider personal accident and injury policies to cover you in case of your own illness, injury or death.Liability - This is an area that many small businesses dont consider, but missing this out can make you bankrupt if a claim is made against you. With liability you need to include public liability covering your business in case you cause death or injury to someone. This can come from something as simple as someone slipping on a mat in your home, or someone tripping on your briefcase at a coffee shop when you are meeting a client. Professional indemnity protects you in case someone acts on your advice and this causes a loss to their business as a result of this advice. Product liability covers any injuries or loss arising from people using your products and the products being faulty or causing an injury. Aside from insurance you also need to put in place some simple routines such as a minimum of a weekly computer back-up that is stored off-site. For critical paper documents you may want to consider installing a fire-proof safe or filing cabinet in your office but dont use these to store your computer back-ups in as they will generally melt in a fire.Insuring your business success is an issue many small businesses dont think about until it is too late. Use the Easter fire as a message for your own business, double check your policies are current and effectively cover what your business needs and schedule in an annual check to ensure you are getting the best deal from your insurance.
About the Author (text)Ingrid Cliff is a Freelance Copywriter with her Brisbane Copywriting Business (Heart Harmony). Ingrid writes a free weekly small business newsletter packed full of articles and tips and Small Business Ideas blog for small businesses. http://www.heartharmony.com.au invest in stock
Article Source: http://www.earticlesonline.com/Article/Insuring-Your-Small-Business-Success/358689
FEATURED PRODUCTS:
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![]() BLACK Jade Harmony Yoga Mat Professional $62.95 Time Remaining: 22h 1m Buy It Now for only: $62.95 |
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A great place to shop for Harmony Professional Mat products is Amazon.
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Jade Harmony Professional 3/16-Inch Yoga Mat |
DescriptionJade Yoga's most popular premium mat, the Jade Harmony Professional 3/16-inch mat offers a perfect balance of traction and cushion. Jade mats are made with open-cell, natural rubber, which is well known for offering terrific slip-resistance... |
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Harmony - A Natural Yoga Mat |
DescriptionHarmony Mats are the natural choice for yoga! With its open-cell, natural rubber design, the Harmony mat offers excellent traction, even when wet from perspiration. Thicker, denser and tougher than standard mats, the Harmony provides a solid, non-slip platform for Ashtanga, Iyengar, Bikram, Kripalu and Vinyasa styles -- and for anyone who wants extra comfort... |
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74" Professional Yoga Mat Color: Teal
Sale Price: $67.49 |
Description374TE Color: Teal Features: -Yoga Mat. -Available in several colors. -Open cell natural rubber provides optimum grip and has more resilience and cushion. -Eco Friendly: Made with natural rubber, a renewable resource without any synthetic plastics... |
Check out these fine shops that offer Harmony Professional Mat products:
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36X72 PVC treadmill/elliptical mat $59.99 Treadmill/Elliptical mat 36"X72" made of 3/8" thick textured PVC |
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Hugger Mugger Yoga Product's Tapas Sticky Mat Blue 1Pc $33.89 Description: Tapas Original Mat Lapis Blue 1/8" Sticky Mat 1Pc.--- The Pilates Mat was designed with the help of professional Pilates instructors with the unique demands of Pilates workouts in mind. It's an optimal surface made of dense foam, providing you with the support and cushion needed for a comfortable workout. It offers undulation from cool floors and can be rolled or folded to assist you in the diversity of the Pilates routine. This allows you to focus on practicing each exercise with precision and care. --Inspiring Life's Journey--Tapas Original--A favorite for teachers and studios--A Hugger Mugger original innovation--Stable and solid cushioningCare Instructions:We recommend you wash your mat prior to first use. New mats may have a slight oily residue left over from the manufacturing process. You can remove the residue by wiping the mat lightly with a diluted solution of soap and water. Allow mat to air dry completely before storage or use.To Clean Mat: Use Hugger Mugger Mat Wash after each use. Air dry. |
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Altus Double Thick Yoga Mat - Blue $15.9 Large And Lightweight Yoga Mat For Maxium Comfort And Support |
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Hydroxycut Professional Strength Hydroxycut Shape, 120 Liquid Pro-Capsules $34.99 Professional Strength Weight-Loss Formula |
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Hydroxycut Professional Strength Hydroxycut Shape, 210 Liquid Pro-Capsules $58.99 Professional Strength Weight-Loss Formula |
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PowerBlock Stand Mat $39 Protects Floors From Wear, Scratching And Sweat |
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Valeo Yoga And Pilates Mat - Purple $12.99 Ideal For All Yoga, Pilates, And Stretching Movements |
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Valeo Foam Exercise Mat - Black $13.79 Soft And Comfortable Surface For Excercising |
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PowerBlock Bench/Stand Mat - Black $99 Protects Floors From Wear, Scratching And Sweat |
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Crystal Star's Female Harmony 60Caps $19.95 Helps PMS symptoms Description : Helps PMS symptoms. Reestablishes hormone harmony. Also helpful to revitalize and energize after menopause Other Ingredients: Dong Quai Rt.; Damiana Lf.; Burdock Rt.; Jiaogulan Lf.; Nettles Lf.; Licorice Rt.; Sarsaparilla Rt.; Red Raspberry Lf.; Oatstraw; Seaweed Ext.: {Dulse, Hijiki}; Ashwagandha Rt.; Maca Rt.; Hawthorn Hrb.; White Peony Rt.; Angelica Rt.; Rosemary Lf.; Yellow Dock Rt.; Dandelion Rt.; Rose Hips; Fennel Sd.; Ginger Rt.; Rehmannia g. Rt.; Chamomile Flwr.; Cinnamon Brk.Other ingredients: vegetable-source maltodextrin and magnesium stearate, vegetarian capsule (vegetable cellulose and water). Directions: Take 2 caps daily for 3 months. May be taken daily for 2 - 6 months |
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Crystal Star's Female Harmony 90Caps $24.95 Helps PMS symptoms Description : Helps PMS symptoms. Reestablishes hormone harmony. Also helpful to revitalize and energize after menopause Other Ingredients: Dong Quai Rt.; Damiana Lf.; Burdock Rt.; Jiaogulan Lf.; Nettles Lf.; Licorice Rt.; Sarsaparilla Rt.; Red Raspberry Lf.; Oatstraw; Seaweed Ext.: {Dulse, Hijiki}; Ashwagandha Rt.; Maca Rt.; Hawthorn Hrb.; White Peony Rt.; Angelica Rt.; Rosemary Lf.; Yellow Dock Rt.; Dandelion Rt.; Rose Hips; Fennel Sd.; Ginger Rt.; Rehmannia g. Rt.; Chamomile Flwr.; Cinnamon Brk.Other ingredients: vegetable-source maltodextrin and magnesium stearate, vegetarian capsule (vegetable cellulose and water). Directions: Take 2 caps daily for 3 months. May be taken daily for 2 - 6 months |
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Futurebiotics PMS Harmony 56Caps $16.99 For PMS Support Description : Advanced PMS Complex clinically proven nutrients for nutritional pms support ? BioResponse DIM� - Patented, enhanced bioavailability and clinically proven to help balance hormones ? Chasteberry extract - Clinically shown to help reduce PMS symptoms ? Natural "PMS support" herbs and select nutrients including Calcium Clinical research has shown that the ingredients in PMSHarmony�, including BioResponse DIM�, Calcium, Magnesium, Vitamin D and Chasteberry extract help decrease many of the symptoms associated with PMS and help balance hormones. BioResponse DIM� is a naturally-occurring indole found in cruciferous vegetables. Clinical research has shown it helps support healthy estrogen metabolism by increasing production of 'good' estrogen metabolites, such as 2-hydroxy estrone, while reducing harmful metabolites, such as 16 alpha-hydroxy estrone. Patented BioResponse DIM� utilizes solubility-enhancing micro encapsulation technology that encases small particles of Diindolylmethane within a water-soluble matrix that increases bioavailability. PMSHarmony� contains Chasteberry extract, standardized for 0.5% agnusides. Research has shown that Chasteberry extract helps increase production of luteinizing hormone (LH), which indirectly increases progesterone production. It helps regulate the menstrual cycle and helps reduce PMS symptoms, including breast tenderness, irritability, mood swings and cramping. PMSHarmony� is further enhanced with select nutrients like Calcium and Magnesium, and botanical ingredients, including Asparagus racemosus extract that may provide relief from PMS symptoms. Whole, unextracted Chasteberry, Dong Quai and Black Cohosh root are included and provide all the natural plant co-factors that nature created. PMSHarmony� is potency-enhanced with Futurebiotics BioAccelerators�. Clinically-proven BioPerine� (piper nigrum extract) improves nutrient bioavailability, while their proprietary natural compound of Ginger extract, Trikatu, super-potent Digezyme� and Lactospore� boosts digestion and absorption. PMSHarmony� - taking inspiration from Nature. This 100% vegetarian product has an aromatic botanical essence added, along with natural whole plant co-factors including Black Cohosh root, Chasteberry fruit and Don Quai root. Glass packaging extends natural freshness and helps maintain potency. Supplement Facts: Serving Size: 4 CapsulesServings per Container: 14 Vitamin D (as Cholecalciferol) 100 IU 25%Vitamin B6 (Pyridoxine Hydrochloride) 25 mg 1250%Calcium (as Calcium Citrate) 300 mg 30%Magnesium (as Magnesium Oxide) 150 mg 38%Chasteberry Fruit Extract (standardized to contain 0.5% [0.88 mg] agnusides) 175 mg *BioResponse DIM (Diindolylmethane 100 mg *Proprietary PMS Support Compound Chasteberry fruit, Asparagus racemosus root extract (standardized to contain 2.5% shatavarins), Don Quai root, Fo-Ti root, Cramp bark, Black Cohosh root 23 mg *Futurebiotics BioAccelerators� (BioPerin |
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CNP Professional ProPeptide - 2 Lbs. - Chocolate Malt $31.49 ProPeptide Does Not Contain Added Gums |
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CNP Professional ProPeptide - 2 Lbs. - Wild Strawberry $31.49 ProPeptide Does Not Contain Added Gums |
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CNP Professional ProPeptide - 2 Lbs. - Creamy Vanilla $31.49 ProPeptide Does Not Contain Added Gums |
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CNP Professional ProDessert - 15 Packets - Chocolate $28.99 An Instant Protein Pudding Mix With Sustained Release Protein Blend |
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CNP Professional ProDessert - 15 Packets - Vanilla $28.99 An Instant Protein Pudding Mix With Sustained Release Protein Blend |
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CNP Professional ProSLAM 27 - 12 Pack - Peach $27.79 High Performance Protein Pre-Workout Supplement |
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CNP Professional Pro-GF - 2.78 Lbs. - Lemonade $29.99 Supports Increased Muscle Cell Size And Anabolic Activity |
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CNP Professional ProPeptide - 5 Lbs. - Chocolate Malt $61.99 ProPeptide Does Not Contain Added Gums |
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CNP Professional ProPeptide - 5 Lbs. - Creamy Vanilla $61.99 ProPeptide Does Not Contain Added Gums |
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CNP Professional ProPeptide - 5 Lbs. - Wild Strawberry $61.99 ProPeptide Does Not Contain Added Gums |
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CNP Professional ProSLAM 45 - 12 Pack - Peach $29.99 Protein Beta-Alanine Pre-Workout Supplement |
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Harbinger Black Rolled Durafoam Mat - Black $22.49 Moisture Slip Resistant |
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Crystal Star's Female Harmony Tea 3oz $12.95 Helps PMS symptoms Description : Helps PMS symptoms. Reestablishes hormone harmony. Also helpful to revitalize and energize after menopause Other Ingredients: Red Raspberry Lf.; Licorice Rt.; White Tea Lf.; Dandelion Rt./Lf.; Nettles Lf.; Rose hips; Spearmint Lf., Oil; Burdock Rt.; White Peony Rt.; Sarsaparilla Rt.; Lemongrass Lf., Oil; Chamomile Blsm.; Rosebuds; Cinnamon Brk., Oil; Stevia r. Lf. Directions: Drink 2 - 3 cups daily for 3 months. May be taken daily for 2 - 6 months. |
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Professional Solution Nettle 60 lvcaps $25.99 Professional Solution Nettle 60 lvcaps |
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Professional Solution Ginkgo 60 lvcaps $27.99 Professional Solution Ginkgo 60 lvcaps |
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Professional Solution Hawthorn 60 lvcaps $24.99 Professional Solution Hawthorn 60 lvcaps |
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Dream Tan Professional Self-Tanning Spray - 8 Fl. Oz. $15.99 The Perfect Tan That Also Hydrates And Moisturizes Your Skin |
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CNP Professional ProPeptide MBF - 5 Lbs. - Creamy Vanilla $35.99 Perfect Blend To Let You Grow Lean, Healthy, And Muscular |
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