Benefits of Taking Home-Business Insurance Policy

Home-based business is the popular choice for entrepreneurs who want to do business with small investments. According to National Statistics’ Labour Force Survey, there are 2.43 million people (Q4 2011) in UK who run a business from home. These self-employed home-workers are the fastest growing part of UK workforce, whose number rose by 28.16% over the last decade.

Since home-businesses have small capital, they do not involve huge or costly business assets or workforce. However, like any other large or medium sized businesses, home-businesses too are prone to wide range of risks. Regardless of the size, every home-based business needs to get insured to protect the assets and revenues of the business owner. Let us see why and how insuring a home-based business is profitable.

Importance of home-business insurance:
Many business owners assume that they do not require a separate insurance for their home-businesses, as they already have a home insurance policy. But, many renters’ or home owners’ insurance policies do not automatically cover a home-business. Even though your home insurance covers contents in the home, it may not extend to your home-office equipment. Similarly, personal auto insurance policy does not cover vehicles used for business purposes.

This clearly means that your home-business is lacking protection. Thus, in order to secure it from any unexpected losses, it has to be protected by taking sufficient insurance policy.

Benefits of taking home-business insurance:
Now that we know the importance of home-based business insurance, let us look at the benefits one can get by insuring his business.

•Claims of negligence: As most of the home-based businesses include companies that offer professional services, such as consultancy advice, design or financial planning, medical or legal advice, a typical home-based insurance policy definitely includes professional indemnity, which protects business owners from the claims of negligence. May it be a piece of flawed advice or a wrong service, it could result in serious legal claims from the clients. In such scenarios having home-business insurance helps the business owner to meet the expenses incurred in defending himself against the claims.

•Revenues and assets: Business property such as contents, stock, equipment, vehicles, furniture, electronics, etc., is very important for any company. Any loss or damage to them significantly affects the profits of the business. Hence, by taking home-business insurance, which offers cover against all minor and catastrophic losses, you can safeguard your business assets and revenues from all unforeseeable risks.

•Coverage for third party injuries/damages: Another advantage of home-business insurance is the protection it offers against third party injuries/damages because of your business activity. Anything like a bodily injury, property damage or a manufacturing error could result in hefty compensation claims from the injured. Thus, having insurance policy enables you to run your business without the fear of a lawsuit or losing the business in a legal battle. Besides providing compensation costs, the policy also covers legal fees helping you to continue your business without any interruption.

•Medical aid and paid leaves for injured employees: This kind of coverage is optional. If your home-business has workers/employees working for your business, then you can include this cover in your policy, which provides employees with medical care and paid leaves if they are hurt on the job. Thus, this policy relieves you from the burden of taking care of employees’ medical expenses and hospital bills.

With many home-based businesses showing interest to take insurance policy, insurance companies have come up with various policies. But, in order to get a tailor made policy which suits your needs and business requirements, you need to approach a reliable and reputed insurance brokerage firm. These firms suggest you with the best policy that covers all the risks associated with your home-business, thus allowing you to make a worthy purchase.

Don’t Raise Your Fees, Yet

You’ve seen those webinars, right? Some business coach scribbles some math and shows you how easy it is to do a six-figure whatever, all you need to do is to raise your fee. Then proceed to sell you some $997, $1,997 or $2,997 program.

So you bought the program, thinking there’s some magic bullet.

I have done that too. Quite a few. And they all boiled down to:

Figure out what you gotta sell, who you’re selling it to, and tell these people why you’re unique and relevant. After you created that package or whatever, smack a price tag on it, and then multiply it by X. That’s your new price, go get them, tiger!

Here’s problem #1:

You need a ton of discipline to stay honest and focused while you figure out what you sell, who you sell it to, why you’re unique, and how you’re relevant.

Even if you succeed in doing so (which makes you the top 1%) you still have to articulate it so your market can understand the value and pay you the money. Last time I checked, those online programs don’t write the damn thing for you.

What happens is that most people would go through the motion of trying to figure these things out or articulate their offering.

More often than not they aren’t 100% there yet but no one is going to stop them and point out what isn’t fully baked. Look no further than the half-done assignments on your hard drive.

(I also believe we’re constantly evolving and everything is work in progress. I mean it’s not fully-baked for who they are at that moment in time so they have a solid step for their evolution.)

Then comes the pricing module. So now people are essentially slapping a high price tag on something half-baked.

Creating something in total alignment and articulating its value and relevance is hard, compared to slapping a few numbers to those packages.

So guess what – half-baked offerings that aren’t fully aligned or well-articulated with a price tag you don’t feel good about saying out loud.

Without the confidence and alignment, there’s no way on earth you can sell it like you mean it. And a program or package with a high price tag ain’t gonna make you any money if no one is buying.

Anything times zero equals zero.

Here’s problem #2:

Sound bites are taken out of context trickle down to blog posts and podcasts, making people think all they need to do is to sit on their ass, do some inner work, and pump up the numbers.

“Charge what you’re worth” is the greatest offender of all.

Some business coaches try to sell their “high end” program by showing you how you can raise your price and “make your investment back” by just signing up 2 new clients using artificially inflated numbers.

Not saying you can’t charge that kind of money. I’m all for getting a fair price that reflects the value you bring to the table. But you need to be clear and confident about what you offer, and in how you articulate its value and relevance to your market.

This takes time. To do good work and build up the confidence, so your pricing is backed by an honesty that connects you with your work and your people to you.

Your honesty to yourself and your confidence on the value you deliver determine the price you can charge with alignment. When you charge with alignment, you get it.

Ling Wong:: Intuitive Brainiac | Creativity Mentor | Copywriting Alchemist. Author of Copywriting Alchemy: Secrets to Turning a Powerful Personal Brand Into Content that Sells.

Through her unique blend of marketing coaching, Content Experience Design and copywriting process, she helps the maverick-preneurs uncover, articulate & transform their WHY into content that connects, resonates and converts – by way of an intuitive yet rigorous iterative process born out of her Harvard Design School training and 15 years experience in the online marketing industry.

Ling is Inbound Marketing, Content Marketing, and Email Marketing certified.

She helps coaches, consultants, service professionals, solopreneurs and small businesses apply these best practices to their specific business models and circumstances.

Choosing the Best Shipping Label for Your Needs

What you do when you order anything online? Keep patience and wait for the thing to arrive. On the other hand, the company which is selling the product has to get to you to deliver the product. How do they do that? Remember you need to add your delivery address. That is exactly mentioned on the shipping label. It is the key information that helps to move the shipment from one hand to another. The courier company uses it right from the warehouse to reach to the customer’s doorstep. Now, with the carrier, you may find different types of templates.

If you are the company which is going to buy the shipping label, make sure to know the type of printer you have. This article will guide you to find the right printer.

Inkjet and Laser Labels

Having an inkjet or laser printer in a home or office is common. For them generally, a sheeted product is required. A sheeted label stock of different colors is found which are made of different materials. Some only designed for the laser printer is also found. There are types that are removable or permanent. Make sure that the label you are purchasing is compatible with the printer you have. If you are looking for a green alternative, there are sheeted labels found that are made from the recyclable
materials.

Thermal Transfer

With the thermal transfer printers the thermal transfer labels. Ribbons are used for this one. The system of installing ribbons and ordering supplies is quite a complex in these kinds of labels.

Direct Thermal

These labels are sensitive to heat. They do not need any ribbon or ink. These kinds are mainly useful for industrial or desktop direct thermal label printers. The desktop thermal printers generally have one core in comparison to 3 core industrial direct thermal printers.

Copier

Get a label that is rated to be used in the copier machine if you are planning to make use of the copier machine. Any label is not suitable to work here.

Pinfeed & Dot Matrix

Dot matrix printing is the most popular means of shipping label printing. This is because of the percussion achieved for printing. The pinfeed labels come in different colors and you can choose between temporary and permanent adhesive.

You may also choose the weather resistant polyester stock. These are mainly good to resist cold and rain when the packages are out to be delivered to the customers. No matter what you choose ensure that you maintain the safety of the goods that the customers have order.