I’m learning to use video editing software. Lots of fun!
Business
Right now the kids are in bed and I’m eating dinner; a bacon and blue-cheese burger from Wendy’s. Pretty good! Of the four bucks I spent, I can’t help but wonder how much of it the owner must hand over in Work-Comp premiums. I know – weird thing to wonder – right? Maybe it’s just that today I ended up helping a local restaurant owner save big money on Work-Comp. It got me thinking I should share a few tips on how to fight back and slash premiums.
1. Shop Top Companies
The State Insurance Fund is NOT the only competative option. If your agent tells you otherwise - get a 2nd and 3rd opinion! There are a number of companies that are HOT in Idaho with Work-Comp. Each company has Pros and Cons and keep in mind there are variables outside of the rate to consider. (Such as required deposit amount, dividends, and their ability to help you reduce costs going into the future.) If your agent can’t or won’t shop mulitple companies – call around until you find someone who will!
I think this is HOGWASH (to use language my mother would approve of). As business owners, we are targets for law suits. I’ve suffered through 
a frivolous lawsuit myself – and it was horrible. After two years of spending enough on defense to purchase a small house, it was finally time to
You’re busy. Chances are, your business is more fragile than you realize. Every day, small successful businesses are shut down by unforeseen losses. Even worse, business owners can find themselves hanging personally for these events. Every business is different – and so the risks are different. (more…)
This story is incredibly embarrassing. Why? Well, as an insurance guy, I should have known that Employment Practices Liability is the 2nd most likely area to have a HUGE claim (next to Professional Liability) for most companies – including small businesses. But my thinking was pretty old school at the time. That is, I had bought into the same type of insurance protection that insurance agents have been recommending since the 50’s.
(more…)
If you’re part of a union or somehow derive a significant portion of your living directly or indirectly from government … you probably won’t like me or this blog. I’m a small business owner that has built a million dollar company from scratch … made millions of dollars worth of mistakes … and I try to be open about it all.
One of the biggest lessons I’ve learned in the last 10 years of managing businesses, is that your best allies and friends (at least in the business world) are other successful business owners. Luckily, in my line of work, I get to meet and work with business owners everyday – all day. Because of this, I run across a lot of little Gems you just won’t find in Barnes and Noble or in some class somewhere. I’m talking about in-the-trenches small business truths. When I come across the really truly valuable content — I’ll share it with those that care to subscribe. (more…)
