Are You Covering Your Home Based Business With Homeowners Insurance? Many home based business owners rely upon their normal home insurance policy to cover their business assets. Sometimes, this will be ok, but very often, this is a big mistake. To understand why it could be a mistake, please take a moment to learn about typical homeowners policies.Personal Property vs. Business PropertyThe first problem that usually crops up is that the typical home policy does not have enough personal property coverage. A home based business may add supplies, equipment, computers, inventory, and records to the normal personal property in the home. Combine this with the furniture, TV sets, and appliances in that same home. Whatever coverage you and your agent thought was enough before you ran you home based business may be woefully inadequate now!Also be sure that your personal property is covered at the replacement costs, and not the real value. If your property is covered at real value, you will have to accept garage sale prices if your precious items are damaged. You laptop may cost $1,200 to replace, but would be unlikely to fetch more than a couple of hundred dollars if you sold it on eBay. You do not want to have to replace your business items that way.Do you even know how much personal property coverage you have in your own policy? Lots of homeowners have no idea. It is time to dig out your policy or call your agent or insurance company to find out.Home vs. Business Liability Insurance Typically, a home policy covers the home owner in case a visitor makes a claim for damages while they are visiting. This may not cover damages that happen in the course of business. Your normal policy will not contain professional or business liability coverage at all.Personal vs. Commercial Car InsuranceAnother coverage issue that many small business owners forget about is coverage for their cars. Personal auto insurance policies may not be adequate if you use your own car for business quite a bit. This can be especially true if you let employees drive it, carry inventory, or drive a lot more than you originally stated when you bought your policy.How Can You Find Adequate Home Based Business Insurance? It is no time to fret but just to take some action! It may be very simple to fix the problem with your homeowners and home based business insurance. Here are some of the solutions you may find.
If your business if fairly small, your insurer may be able to adjust your policy to cover business items by adding a rider. This is probably a simple and fairly affordable solution.
Business Owners Policies (BOP) are insurance packages that many small businesses purchase. They contain a package of coverage that are typically adequate. If your business is a bit larger, this may be the solution you need.
You may also be able to adjust your car insurance policy to cover some business use. If not, you may need to purchase a commercial vehicle policy.
Your auto and home insurance policies may be very simple and affordable to adjust. But if you ignore the issue you run the risk of having big financial problems if some essential business supplies are damaged or a customer claims damages.
Home Based Business Owners – Do You Have Enough Insurance?
How To Succeed At Online Product Creation The Easy Way
Product creation could be a frightening subject for a lot of Internet marketers to face. Some folks who get in the game with the intention of making a full time income are completely ignorant as to how an online business operates. One of the most profitable ways to create online cash is by creating a product that others are happy to pay for.
Product creation is legitimate method of generating money through internet marketing but many entrepreneurs get it wrong. They start by imitating their Internet marketing gurus by creating information products on Internet marketing in hopes of getting rich the way their heroes did. The problem is that they usually don’t know what they are doing and enter a highly competitive niche with very little marketing experience or connections.
Here are a few tips for effective product creation that may help you get on the right track:
Start by finding a profitable niche with low to moderate competition. If you conduct some rudimentary market research and keyword research, you’ll find many opportunities in areas that will surprise you. Amazon and eBay are two great places to brainstorm for product ideas.
Developing Your Product does not have to be a difficult project. You can find experts in the right field for your niche and pay them to write the material while an artist designs the packaging and website or blog. You can outsource the entire product creation part of the project after you conduct the research and testing to ensure profitability.
Sales and marketing strategies should be created while developing the product and learning about the market. Some experienced marketers use pay per click to drive traffic to their offer page; some folks outsource the entire marketing campaign to affiliates through ClickBank or other affiliate programs.
Product creation does not need to be hard, particularly when the merchandise is electronic. E-books, videos, audio and multi-media products sell very well. They are distributed immediately to customers electronically. Once you have a good feel for a niche market, try to service your customers with associated products and upgrades. If you want to earn money online through product creation, you must understand supply and demand. The majority of new online marketers fail miserably because they go after highly competitive markets or forget to research their chosen niche properly. You have to create your products according to the needs, wants and desires of the prospective customers.
Home Based Business – How to Be Successful
Setting up a home based business might sound like a fantastic idea at the outset, no boss to worry about, no morning panic and commuting miseries, no more traffic jams and road rage and best of all the flexibility to do what you want when you want. Sounds like a dream come true, however if you do not discipline yourself to work conscientiously you will not make any money!There are many articles and informative websites on setting up home based businesses, but what they fail to enlighten you about is the things you need to avoid doing to be successful. Read this article to find out what steps you need to take to make your business flourish.When you are deciding what business to set up from your home, you need to consider the possibility of having employees work out of your home. Do you have enough space for this to be possible? What about employee insurance and workers compensation coverage? You will also be taking a huge risk letting strangers into your home so prospective candidates will need to be very carefully screened. If you have to employ people for your business try to get people who come highly recommended, run credit checks, police checks and reference checks to make doubly sure.Do not entertain the thought of making do with your existing telephone for business. One phone call from a friend can tie up the line for ages and ruin good business opportunities. Moreover, until people realize and accept that you are running a business the tendency to call and chat will be strong, simply because you are at home. Invest in a good telephone system and phone service. Give your business that professional touch with a good system.Bringing clients to your home for business meetings is really not a very professional approach, unless the room you have set up as an office has a separate entrance to it. You wouldn’t want your client to see your home with the toys and clothes strewn all over the place! Use the local coffee shop for your business meetings; it will be a lot better than inviting them to your home. Find a coffee shop that has an internet connection, most of them do and you can be on line and very professional at your meeting.Take your business seriously and do not mix home and office. Set your self work timings and take a dedicated approach to building your business. If you need coffee, install a coffee machine in your office, don’t wander into the kitchen, you will be tempted to do a few dishes or start tidying up!