1. Worker Liability Insurance
Businesses must provide accident and sickness insurance cover to their employees. Entitlements may include income payments, compensation for permanent disability, and healthcare expenses.

2. Public, Professional and Product Liability Insurance
Businesses must cover themselves for liabilities to their customers or to the public. The three main types of liabilities insurance include product liability, professional indemnity, and public liability:

Product Liability
If a business creates, repairs or sells products, they could be held liable for any damages or injuries that arise as a result of defects in a product’s design or manufacture, even if the business themselves has not been negligent.

Professional Indemnity
Professional indemnity insurance protects businesses against their liability towards third parties for any injuries, damages or losses that arise from professional negligence or that of their workers.

Public Liability
If clients visit a business’ premises or a business visits clients in their own premises, public liability insurance is essential. Public liability insurance covers the cost of the award of any damages provided to a member of the public due to injuries or damages to their property caused by a business. It also covers related healthcare and legal fees.

3. Assets Insurance
Assets insurance takes many forms. Each policy is specifically designed to act as a standalone policy and to not overlap any other type of policy. Types of assets insurance include:

Building and Contents
This insurance covers the cost of losses due to fires and thefts.

Cash
This insurance covers the loss of cash within a business premises or within transit.

Computer Damage
This insurance covers the repair or replacement of computer equipment that is damaged or stolen.

Automotive
This insurance covers the cost of accidents that occur and are caused by a vehicle that is being used for business purposes.

The cost of the insurance premiums is associated with the underlying risk.

4. Income Insurance
Income insurance covers several areas:

Loss of Profits
This type of insurance is used to maintain trading result following loss or damage.

Personal Sickness
This type of insurance provides a business owner with an income in the event of illness or injury.

Life Insurance
This type of insurance is payable if an individual dies or experiences permanent disablement.

Partnership Insurance
This type of insurance is a form of life assurance which is possessed by one partner yet relates to the life of the other. It enables the surviving partner to purchase the deceased’s share of the business in the absence of having to close or sell the business.

Key Person Insurance
This type of insurance is a form of life assurance which provides a lump sum of money upon the death or disablement of a main employee. It supplies a business with the cash required to replace this worker.
While insurance can be expensive, it can protect a business against financial failure in the event of unforeseen losses or lawsuits.

Income Protection Insurance Australia brings together the latest information from all the major providers. You will easily be able to find information about critical illness cover, accident and redundancy cover, and even budgeting tips, all in an easy-to-read way. Visit the site today.

Stress, pressure and responsibilities can give the best of us some restless and sleepless nights. One of the biggest pressures executives face is managing a team. Not only do executives need to manage their own schedules, tasks and priorities but they also need to do so for their team. Managing a team is different to managing yourself as the decisions you make for your team must work for them collectively and not just for each individual.

The following areas are what executives should focus on to alleviate the stress in their role and to help them keep a clear and focused mind, and this starts by effectively managing the team. 

Talent – Each individual is different and motivated and driven by different factors. Knowing the drivers of your team members means you’re one step closer to making managing easier. Having great staff can make all the difference to the business’ output. Keep your team involved, listen to their views and recognise their rewards and achievements and you will soon discover where their talents lie.

Development – Make sure you invest in continuous learning for your team. It will keep them motivated, engaged and give them a more positive overall attitude to their career. Top performers particularly crave continuous learning. Don’t try to guess what development your team needs – ask them what they think they need.

Productivity and Happiness - Many say a happy team makes for a happy bottom line and it’s true. When your team is engaged they will become more invested and therefore more productive. Explaining to your team how meeting goals and objectives affects business as a whole will see your team want to work for the interest of the business and feel happier they’re essential to and involved in the big picture.

By using these tips to get on top of your worries you just might find you will be a less stressed and anxious executive and better able to manage the responsibilities of your role.

Sue Barrett is one of the leading female voices commenting on sales today. Sue is an experienced business speaker and adviser, facilitator, sales coach, training provider and entrepreneur and founded Barrett Consulting, support system where you can get access to sales assessments, sales consulting, sales coaching and sales training programs including planning, prospecting, selling skills, account management, emotional resilience and more.

Visit http://www.barrett.com.au

In the late 1980′s and early 1990′s I saw signs and glimpses of how selling was undergoing changes and how businesses and salespeople needed to rethink selling and working with customers. At this time there was no documented evidence I could use to reference and confirm my hunch that things needed to change. No evidence I could use to show and validate my findings to business leaders. I could only rely on my own (unofficial) references.

My 17 years in business has told me that particularly when a business has started on a “hunch” or “gut feeling” finding clarity can be a struggle. With constant self doubt and knowing something is there but unable to put your finger on it can make finding business clarity seem almost unobtainable.

Many businesses, business leaders and their teams struggle with achieving their sense of clarity because they find it difficult to answer the following questions:

o Why do we do what we do?

o Who we do it for?

o How we do it?

So wherever you are at in your business journey, start 2012 by finding, defining or refining your clarity of purpose; it‟s a liberating experience. The following tips will help you find clarity of purpose:

Know your philosophy - A philosophy should be something that you and your business live by. Think of a “motto” and remember this whenever you feel you‟re losing your clarity of purpose. It will give you direction and focus.

Know your vision - Having a vision should go hand in hand with your business philosophy. Having a vision will clearly define what your business is aiming to achieve, similar to an objective. Your vision should always reflect your philosophy.

Know how you will do it - What beliefs will you instill? In what ways will your business help others develop their skills, knowledge, mindset and quality of life?

When a business leader knows the answer to these questions they will uncover their business‟ real intentions, talents, desires and goals. Without the answers to these questions, little else matters in business because anything we try to do without knowing these answers will lack clarity of purpose.

Sue Barrett is one of the leading female voices commenting on sales today. Sue is an experienced business speaker and adviser, facilitator, sales coach, training provider and entrepreneur and founded Barrett Consulting, support system where you can get access to sales assessments, sales consulting, sales coaching and sales training programs including planning, prospecting, selling skills, account management, emotional resilience and more.

Visit http://www.barrett.com.au

For a long time now, I’ve noticed some of my clients actually stopped themselves from marketing themselves because they believe they still need to learn more about their profession to be perfect or that expert.

However, they had already obtained their training certificates, had already completed their practical, but still they believed that they were not qualified enough or professional enough to get clients. They were fearful of someone finding out that they didn’t know what they were talking about, that they weren’t an expert!

Some didn’t believe they were ready enough to go out there and attract clients. They believed they still needed to learn or practise more beforehand. They just didn’t believe they were ready to go out there and market themselves in a big way.

Here are some of the statements I’ve heard from clients over the last year:

• I’m not as good as the professionals.
• I’m not as good as my competitors, so I need to do more.
• I need to be more of an expert to attract clients to work with me.
• I need to learn more to be credible.
• I don’t know enough yet, I still have so much more to learn.
• I don’t have enough experience they will know I’m a fake.
• I need to practise more so that clients keep coming back.

Where was all this self-doubt coming from? Was it a worry of ‘I’m not ready to market myself fully because I don’t know enough yet’ therefore I don’t want to expose myself and be vulnerable. Was it a sense of not ‘being enough’ as a person? Perhaps it was thinking that if I’m not perfect then I’m not good enough?

Whatever it was, I knew that it would spiral out of control. They would never feel complete; they would just continue to learn instead of doing.

All I know is that if you continue to wait until you know it all before you get out there and market, you will never actually get out there. The world continues to learn, things continue to change, what was the norm last year is now completely different. Think about social media and how many times facebook has changed the way it does things. If you wait for the perfect time… you will be waiting for a very long time. There is no more perfect time than NOW.

Perfection comes from doing something and improving on it… you can’t improve if you’ve done nothing. Remember he who hesitates loses.

You don’t need to be ‘the expert’ to do more marketing and to have more clients. I call myself a client attraction expert, but I’m not the only one who talks about marketing, I’m not the one who’s been doing it the longest. But what I do have is my own experiences, my methods, my energy and my authenticity in my knowledge and how I deliver the information for solo-entrepreneurs and business owners to ‘understand’. And it’s the same for you.

It’s your knowledge, your own experiences, your style, your personality, your methods, and your energy all combine to make you different in the marketplace. Clients will be attracted to you because of all these things and more. Clients will be attracted to you because they know, like and trust you.

You are the expert simply because you know more than the average person. Stop anybody on the street and ask them something technical about what you do, and you’ll find that they won’t have any idea what you are talking about. But I reckon you could do what you do in your sleep. You know your profession, you know your theory, you are an expert and you do know enough.

I’m not saying stop learning, you can learn more and I highly recommend you do. I read marketing, consumer behaviour, mindset and self-improvement books all year. But I’m not waiting until I know it all, because I never will and neither should you.

Just get out there more than you are now and start attracting clients today, forget perfection, it will all work itself out. Remember, you know more than the majority of people and these same people need you. So market yourself today so they can find you!

You can be the best in whatever you do, but there is one thing you do need to know more about and that’s systematically attracting new clients and closing the sale. Therefore it may be time to invest in a step-by-step marketing system that will make everything easy for you. The Easy Marketing to Get Clients Home Study System™ gives you the foundation for you to get out there in a big way. It’s full of simple easy systems so that you continually get new clients. It’s all easy to do and simple to understand. You can get it at easymarketing.com.au.

Deborah Jackson of Easy Marketing, and author of ‘Easy Marketing for Women’, teaches self-employed professionals, entrepreneurs and business owners how to consistently attract ideal clients, how to put their marketing on autopilot and create a prosperous business!

To receive your FREE ‘Six Simple Steps to Niching Yourself’ audio CD, as well as other helpful marketing tips, simply visit http://www.easymarketing.com.au and sign up.

You’ll soon find that Deborah is someone who explains – in layman’s terms – the simple steps to marketing success. Once you’re a fan of Deborah’s, why not find out how her high-powered marketing strategy sessions can help you.

Over the coming days and weeks I will write some more articles on business startup success that I hope you will find useful. Below you will find 5 tips that have been found to consistently improve an entrepreneur’s life and make it easier for them to be successful long term.

Hire Generalists early and specialists later- Obviously, success doesn’t occur in a vacuum and you are going to need staff at some stage. Early on, you shouldn’t look to hire staff that are too generalist. You need people with knowledge but you also need people whom understand that some days it is just ‘all hands on deck.’ As you get bigger and you see consistent profits and growth you can look at options to hire specialist staff.

Make sure you get enough sleep, eat healthily and exercise- As much as you may want to work 20 hour days and not leave your desk, this is not conducive to good decision making for your business. A healthy lifestyle where you get enough sleep, exercise and eat healthily will stand you in good stead as your business grows.

Have a product or service and start charging early- I don’t care how many millions of hits your website is getting. And you shouldn’t either. If you are not selling a product or service and you are not making any money then you are wasting your time. You can’t eat with analytics.

Vendors are customers too- You will need to engage vendors when in business – whether your phone provider, your landlord or whomever provides the product (or parts for the product) that you are selling. You should treat them with the absolute same amount of respect that you give your customers for two reasons – you want them to be your partner and help you when something goes wrong, and, 2 they may be your customers one day.

Use your product or service yourself and live your vision- The most successful businesses are those that are run by people who either use their product or live their service and vision. You need to be genuinely excited about what you are promoting and selling so that your customers will see and understand your passion. This will make them more comfortable purchasing from you instead of your competitor.

Starting a business is, and should, be fun. Following the tips that I have mentioned above should make your life easier and give your business more chance of success.

The purpose of this article is to share with you 5 important tips that I feel are key to business success when you are starting out. If you ignore these tips you may not fail but you certainly diminish your chances of success. These tips are in no particular order but I feel they are all relevant to all business entrepreneurs whether this is the first or the tenth business that you have started.

Watch your cash- Whilst it is easy to get excited by sales numbers, sales alone are not the key to a business’ success. Without cashflow you are dead in the water. You need to know how much cash is coming in to your business and you need to lower your outgoings if at all possible. There is not point making a lot of sales if you are spending more money then you are bringing in. Identifying large expenses in your business, or growing expenses, may show an area of your business where you can look to cut costs – either by changing the way you do something or changing suppliers.

Avoid Distractions- You cannot be everything to everyone. Decide what your business stands for, decide who you want to be and who you want to target, then go out there and sell, sell, sell. You shouldn’t keep adding to your product or service catalogue just to try and earn money. Also, stay away from negative people as they will only want to bring you down to their level. Keep your head in the game to help boost your chances of success. And remember, there are so many hours in the day and you still want to spend time with friends and family. There is work time and there is play time. Don’t procrastinate all day on Facebook and Twitter and call it work.

Support Customers Manically- You need customers. You need someone to pay for your product or service. You want them to pay you, not your competitor. Support your customers manically by going above and beyond. With any luck, thanks to the powers of social media, you will get them to rave about your business to their contacts and this can lead to you getting more customers and making more money. You really need to go above and beyond with your customers as it is much easier to up sell or resell to an existing customer than it is to go out there and prospect and find new customers. You don’t want to spend all your time getting new customers in the front door only to find that your existing customers are all filing out the back door feeling like you have forgotten about them.

Write a Blog- You may not be the world’s best writer but I still recommend that you document your journey along the way. A Blog helps you clarify your own business, it positions you as an expert in your field and it is a great marketing tool. A well thought out blog post can be easily shared through social networks and with some basic search engine optimisation it can be found easily when people search for terms related to your product or service. I’m also a big believer in contributing to other websites so you can broaden your readership beyond those people that may have already found your website or heard about your business.

Decide with Data- Don’t make decisions about your business on the fly or off the cuff – especially decisions that require you to spend money. You need to look at stats and figures before making a decision. You don’t necessarily have to conduct your own market research – you may be able to find the statistics you need with a search through Google o using some other free tools online. As an example, if you were looking at keywords to target on your website for SEO, a great free tool to look at is the Google Adwords tool. It tells you how many times a month certain phrases are searched for in different parts of the world. This tool can also tell you how competitive a particular search term may be making it easier for you to decide whether or not you should compete on particular terms, or whether you should search for perhaps the low hanging fruit. You may find that ranking for certain keywords is not popular at all and you may find that some terms are only used by tire kickers or freebie seekers.

I hope you have found these tips helpful as they have certainly helped me in growing my business interests.

For B2B sales this space used to be particularly male dominated, but not anymore, and that’s not the only thing that has changed for B2B sales. “Puffing up the books” is all too common and completely useless to the salesperson, the team and the business. However, professional sales people who aren’t misleading their sales and business managers about their results are also seeing their prospects sit idle in the pipeline. This is because the buying process has now become a lengthier process.

More businesses are including their committees, board members and managers in their buying decisions and each person will approach the buying decision from a different perspective. This means the sales person no longer has one point of contact and needs to make sure they accommodate for this in their sales process. This includes the information they give, questions asked and answers provided.

B2B transactions are also having a major overhaul. With access to so much information, the buyer has grown into a more sophisticated, well informed consumer, especially in the B2B space. The savvy business person knows that many of those commodity purchases they traditionally made face-to-face with a sales representative can now be made online thus saving them valuable time and money. The pathway from supplier to partner is not as relevant and will see businesses re-thinking their go-to-market strategy.

As sales people we are now asking ourselves, how do we cope with this changing B2B landscape? The following tips are ways we can ensure we stay in the game:

Lengthened buying process – It’s all about being prepared and precise. Identify how many people are needed in the decision making process and how you are going to meet their needs and allocate the time to do so. Be explicit about why you do what you do; how you do what you do; what you do; and how you help people achieve results. The process may be lengthy for you, but keep in mind it’s also a time consuming process for your prospects also. Offer to address questions with each person face to face instead of back and forth emails and going through a middle man. 

The fall of the transactional B2B sales person – It’s predicted that transactional selling will no longer require the field sales teams. However, if your company is the one that has developed and produced a particular product, it is crucial you create a reputable and informative online presence. Your customers will be going to websites as the “go to hub” for information and if you don’t have an online presence someone less reputable will fill this for you.

Sales is an ever-changing world but there is no need to become anxious or despair. Part of being an effective sales person is having the ability to adapt and this is just one of the scenarios in which this skill will be put to the test. Be prepared, be aware and most of all resilient.

To help you be on the front foot next year with the expected volatile economic conditions check out the Annual Barrett 12 Sales Trends Report and see what’s in store for your business in 2012: http://www.barrett.com.au/blogs/SalesBlog/the-12-sales-trends-by-year/12-sales-trends-for-2012/ 

Sue Barrett is one of the leading female voices commenting on sales today. Sue is an experienced business speaker and adviser, facilitator, sales coach, training provider and entrepreneur and founded Barrett Consulting, support system where you can get access to sales assessments, sales consulting, sales coaching and sales training programs including planning, prospecting, selling skills, account management, emotional resilience and more.

Visit http://www.barrett.com.au

Most businesses realise the importance of competent, trust worthy and results driven staff in their mission for growth. Employees are the ones who manage the day to day operations of a business and are a critical component in dealing with clients and customers, and can be seen to be the face of your business.

As business growth starts to build many businesses leave their employees to one side and start concentrating on how they can continue this pattern of growth. This is understandable as objectives unfulfilled in business will see you being left behind and your competitors taking the lead. However, your employees, and specifically your top performers should be a part of these plans for future growth. Ignoring your top performers could cost your business more than you think.

What most business owners or managers are thinking when they get a great performer is that they’re “so easy” “I wish all my employees were like this”. The fact that managers see their top performers as “easy” is what leads them to leave them to one side as they feel they should be concentrating on the things that are “difficult”.

Although top performers don’t need to be “fixed” they still require on going support. What makes top performers different to other members of staff is their eagerness and willingness to grow and learn. They crave continuous learning and quickly feel as though they’re being taken for granted without this. They feel if the business doesn’t care about their professional develop then why should they keep caring for the business. The following are key ways in which businesses can retain their top performers and give them the support and develop they want and need:

Listen - When you listen to an employee’s wants, needs and concerns, this is a sign of respect as well as showing you have a genuine interest in their professional wellbeing and development. Make time to allow your employees to discuss their professional development. Do they have ideas they want heard? Would they like to take on more responsibility? You may find their contributions are just the kick your business needs to go to the next level.

Training and Coaching – Investing in training and coaching for your top performers is something they would greatly appreciate and benefit from. Top performers love learning and to be given new challenges. With the guidance they get from a professional, you will see their results increase and confidence in and motivation for their job increase as well. 

Cut back on monetary incentives – Sometimes money just doesn’t cut it. If you think “investing” in your top performers means giving them a bonus or a pay rise think again. This can only keep a top performer happy for so long. At the end of the day, growth is what they crave.

Before it’s too late, think about how your business is currently treating its top performers. Are they being left to fend for themselves or are opportunities provided in order for them to also grow alongside your business? Investing in the development of top performers will have a direct impact on business growth.

To help you be on the front foot next year with the expected volatile economic conditions check out the Annual Barrett 12 Sales Trends Report and see what’s in store for your business in 2012: http://www.barrett.com.au/blogs/SalesBlog/the-12-sales-trends-by-year/12-sales-trends-for-2012/

Sue Barrett is one of the leading female voices commenting on sales today. Sue is an experienced business speaker and adviser, facilitator, sales coach, training provider and entrepreneur and founded Barrett Consulting, support system where you can get access to sales assessments, sales consulting, sales coaching and sales training programs including planning, prospecting, selling skills, account management, emotional resilience and more.

Visit http://www.barrett.com.au

In today’s business world, many professions don’t work to a “standard” business day. Professionals now have to think quick on their feet and adapt to fast paced and changing work environments. These types of attributes are seen on countless job descriptions and will become even more common as roles start to collaborate different skills and talents they once didn’t need. This will require ability to make fast yet accurate decisions in areas we may not feel comfortable in.

Many business owners and leaders can find it difficult to make decisions because they have too many issues at hand. They’re dealing with past, present and future business issues. However, it’s vital for those in business, particularly in leadership roles, to step up to the plate and make decisions. If not, you will see your business lose a whole lot more than just time and energy.

The following are just some of the areas you will suffer through indecision:

- Financially: Indecision will see you miss opportunities and new opportunities lead to growth and a growing profit margin.

- Professional growth: If you’re not making the tough calls then you will not know how to handle the outcomes. Making decisions and dealing with its consequences allows you to grow in managing different issues, adding to your skill set.

- Emotionally: Much of Indecision can stem from fear and lack of self confidence. If you don’t break through this barrier you will find yourself becoming insecure and ultimately unhappy. Those that lack the ability to make decisions find they are unable to move forward and the business will also suffer as a consequence.

There are ways that we can learn to become more decisive and make sound judgments. Instead of feeling overwhelmed by decisions, here are some tips to help you navigate your way through the process:

Ask yourself key questions: Questions deliver answers. Make sure you ask yourself key questions to help you make better decisions moving forward. For instance, decide why you are in business. Decide what you want to stand for. Decide what it is you do best and who would value and buy what you do.

Assess risks: When you way up the pros and cons of a decision and see what risks are involved this will allow you to feel more in control and prepared for your final call.

Step outside box: More often than not, people find it easier to make a decision or answer a question when it isn’t related directly at them. Think about what advice you would give someone else if they were in your position.

Making the tough calls is vital to our business and personal growth. You will find that by following these tips you will start to develop more of a “go out there and get em” attitude, become more ambitious and start to feel more energised about your business and its future.

Sue Barrett is one of the leading female voices commenting on sales today. Sue is an experienced business speaker and adviser, facilitator, sales coach, training provider and entrepreneur and founded Barrett Consulting, support system where you can get access to sales assessments, sales consulting, sales coaching and sales training programs including planning, prospecting, selling skills, account management, emotional resilience and more.

Visit http://www.barrett.com.au

Gone are the days where selling was just about the products, its features and how it operates. Today, clients and customers expect sales people to be business people who can sell, think about possibilities and create a working partnership with their own businesses.

Business acumen is important to the skill set of the salesperson and they should have an overall view of the company, including finance, marketing, budget and operations as well as completely understand the company’s goals and objectives.

Salespeople aren’t required to have MBA’s or prestigious qualifications. For the salesperson, it’s about combining experience with thinking and creativity with theory. It is up to the business to involve their sales teams to give them the experience and theory they need.

So…how much should salespeople know about each area of business?

Business Acumen: Demonstrates an understanding of how business works; understands the business’ commercial drivers and makes commercially sound decisions.

Financial Awareness: Develops strategies in order to optimise the potential profitability of sales and to measure the financial value of the customer/organisation relationship.

Market and Industry Insight: Keeps up to date with relevant business, technical and professional knowledge and uses this information to understand market trends, customer needs and buying patterns.

For a salesperson that has been trained in product dialogue for most of their sales career, the transition to being a valuable contributor to a business and business partner to clients will take time and preparation.

This transformation will involve changing the attitude of a salesperson and their idea of what a sales role constitutes. Here are some tips on how sales teams can get into shape and prepare for their sales transformation:

Theory and knowledge: Give sales teams or a representative a regular spot at the weekly board meeting. This will allow for sales people to hear all aspects of business and see the updates, results and progress week by week.

Sales Training: Investing in sales training and coaching can be beneficial for businesses, particularly during the transformation period. Sales training can involve role playing, which combines theory with practice. They’re able to exercise real life situations in a professional

environment where they will develop confidence and receive the necessary feedback that’s required in order for them to learn and grow.

It’s time for businesses to integrate their sales team as a core part of their business. A sales team can bring fresh eyes to a business strategy and help determine the right approach to grow a business. The more involved a sales team is the more insight businesses will have into the thoughts and processes of their clients and customers.

Sue Barrett is one of the leading female voices commenting on sales today. Sue is an experienced business speaker and adviser, facilitator, sales coach, training provider and entrepreneur and founded Barrett Consulting, support system where you can get access to sales assessments, sales consulting, sales coaching and sales training programs including planning, prospecting, selling skills, account management, emotional resilience and more.

Visit http://www.barrett.com.au