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To be successful in business you must be able to lead people and remember there is more than one way to do it. Steve Jobs, founder of Apple, lead with a strong hand getting involved in every detail of his business compared to Herb Kelleher, founder of Southwest Airlines, whose approach was more of a free spirit. I'm sure both of them would give you different Leadership rules but they both were highly successful. Here are mine:
The question is, which of these skill sets do you have? Whatever skillset that you feel is needed, make sure you employ or contract it to help ensure your success.
You can operate your business without new office furniture, the fastest new computer, or the best-looking office space, but if you are serious about being an entrepreneur you must protect your company from being liable for accidents, legal claims, and damages to your business. Natural disasters, theft, employee injuries, property damage, and other circumstances can all have a negative impact on your business if you're uninsured. Below are my three Must.
General Liability Insurance, also known as commercial general liability insurance or business liability insurance
Worker's Compensation Insurance, also known as Worker's Comp
Workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.
Unemployment insurance, also known as Federal and State Unemployment Insurance
All employers are required to pay federal and state unemployment insurance. This is a small percentage of the employee’s pay that you withhold as part of payroll taxes that is added to a pool for future unemployment benefits. Unemployment insurance does not require you to buy an insurance policy, you simply must deduct the appropriate amount of funds. Check your state’s unemployment insurance rate to make sure you are meeting the legal contribution requirement for unemployment insurance.
Just like personal insurance policies such as vehicle, health, and rental insurance, business insurance comes in many forms to protect business owners. Not all businesses need every kind of small business insurance, so it’s important to understand their functions to create an insurance plan that makes sense for your business. Here are my top three.
They give up.
Over 1.5 million dollars is spent every 30 seconds on the internet, your business must have a presence on the world wide web.
Having a website that is professionally done is essential to your business. Remember that a customer’s first impression is a lasting impression.
No matter what type of business you have, today's consumers are buying it over the internet; a house, a car, a vacuum cleaner, food, today's consumers start their shopping on the internet with their cell phone or home computers.
If you are a new Entrepreneur or have been in business for years, make sure you invest in your website, it must be one of the essential parts of your business model.