BlogFriday, January 13 2017
Insurance can be confusing. Even the most seasoned insurance professionals have to work hard to stay informed and ‘in-the-know’. So it’s no wonder that so many Contractors and Business Owners are confused about what they are and are not covered for, under a General Liability policy. Here are the Top 5 Misconceptions I come across often:
This is just the tip of the iceberg. Make sure you ask the right questions to your Broker/Agent and read through your Insurance policy. I know it is not fun reading but it is hugely important. I am available if you want to learn more or have any questions. Hadley Wood President/CEO Monday, December 12 2016
Tis the Season… December 1 to January 1 is a crazy time of the year for most of us. There are parties with collegues, family gatherings, end of the year celebrations and the hustle bustle of the season. It is an emotional rollercoaster and for many people - it is the toughest time of the year. To make matters worse, it is also the most hazzardous month of the year! Key Seasonal Hazzards include: Fires from dry Christmas trees and candles Slip and Fall from Ice, Rain and Snow Theft – Identity Theft, Car Theft and Home Robberies Faulty Toy Products and Pet Products Food Poisoning Here are a few tips to make the most of the season and get to January with your sanity intact:
Wishing everyone a very Happy Holiday season, a Merry Christmas and a festive New Years! Cheers to 2017! Friday, November 04 2016
We all know there are tons of similar companies out there. What sets one apart from all the others is their Competitive Advantage. Every business needs to apply competitive advantage strategies in order to remain relevant, progressive and at the top of their game. Before even evaluating your businesses competitive advantage, you must first understand these three components: KNOW YOUR PRODUCT/SERVICE INSIDE AND OUT You must know everything about what you sell, where your company is headed, it’s flaws and perks. KNOW YOUR TARGET MARKET If your target market is ‘anyone and everyone’ you do not have a target market yet. KNOW YOUR COMPETITION Research them, look at their clients, what are their weakness and strengths? Once you have a firm grip on the above you can structure your Competitive Advantage and brand your company with it to set you apart from the rest of the competition. Each business will have to create their own specific advantages but there are some that can translate across all businesses: Value Added Benefits: Maybe you can offer your clients an additional benefit for working with you such as a free download of specific industry information; cost savings to other affiliated businesses; referral incentives; client loyalty programs, and more. A Narrow Niche: It may seem counterintuitive to limit your market but if you can laser focus the scope of your target market you will be connecting more with your actual customers…saving you time and money. You don’t want window shoppers, you want actual buyers. Create your marketing around them. A Streamlined Process: If your process is faster & easier for your clients than your competition, then your business will attract more clients. Maybe clients can order online, or easier return of items. Investigate the competition and improve on it! Excellent Customer Service: One of the most frustrating parts of doing business is the lack of great customer service. Have a trained, live person to talk with your clients and a procedure in place for your employees, to make sure the client is always happy. Client retention is a huge asset. Cutting Edge Technology: If you can’t scan documents, accept all types of payments, have an up-to-date tracking system, use all the key Social Media for marketing - among many other things, you will not be in business long. Your competition will fly right past you. Invest in the technology and retain a great I.T. person to help you manage it and stay on top of new innovation. Proper Risk Management: If you have high employee turnover, compliance issues, holes in your business insurance, unreliable vendors or subcontractors, minimal capitalization, etc. you will be at a disadvantage against your competition. Assess your risk management techniques and evaluate ways to improve them. So what makes you and your business special? Figure that out and you have your Competitive Advantage! |