by David and Tracy Bell | Sep 11, 2024
Everyone who was alive at the time has a memory of 9/11. I had been in New York on business the weekend before, attending the grand opening of a client’s restaurant next to the World Trade Center, along with some colleagues. We also went to a Yankees game and enjoyed a beautiful Italian festival in Port Washington.
I had a ticket to return on 9/11, but as fate would have it, I had to rush back to Charlotte for business and flew out on 9/10. Many of my friends and family didn’t know I had returned early, so my phone was constantly ringing that day.
It feels strange to think about how close I was to the tragedy. While my experience is nothing compared to the immense loss and bravery witnessed that day, it truly changed me. I think it changed all of us. I hope our country never forgets how we felt that day.
by David and Tracy Bell | Aug 28, 2024
All Syndicated and PayGo Plus offices will be closed for Labor Day on Monday, September 2, 2024.
by David and Tracy Bell | Jul 29, 2024
You’ve written your business plan, filed the appropriate paperwork, and set yourself up to manage your own business as an allied healthcare provider. You are accepting clients who pay for your specialty services from the get-go. You are well on your way to becoming a successful entrepreneur.
No matter what type of allied healthcare service you offer—from yoga instruction to massage therapy to social work—your focus is on creating, growing and expanding your business opportunities.
You keep reading all the lists to make sure you’re doing it right. Google has become your best friend as you research and absorb all the advice from the “Top Five Ways to Grow Your Business” to “Lessons for Independent Business Owners.”
There is so much to focus on when you run your own business, even if the only person on your payroll is you. Your checklist of things to accomplish is long. But you are confident and focused on creating a unique and genuine business model that is sure to succeed.
Your immediate reaction is to run out and find many clients as quickly as you can. At the same time, you need to create your website, print business cards, and find opportunities to market your services. As you seek opportunities to build your brand and customer base, you discover that you can offer your services by plugging in as a contractor through existing businesses.
Part-Time Opportunities Can Grow Your Client Base
There are many ways to grow your business opportunities as an independent contractor or small business with a handful of employees. Perhaps you’re a yoga instructor or massage therapist at your local gym two days a week. Or maybe you’re a nutritionist or life coach that provides counseling support one day per week at an existing clinic. You could be a licensed independent social worker working as a contractor at a senior living behavioral health center. You may create opportunities that connect your small team of employees with any of the part-time jobs.
Whatever the case may be, you’re on your own and experience the many freedoms of being your own boss. It is glorious to have the flexibility set your schedule and earn more money while you maintain a work-life balance. If you have a small team supporting you, you’re probably enjoying passing along work-life balance to them, too.
With the many freedoms you’re experiencing being your own boss, there is no reason you could fail. Or is there?
When you—or members of your small business—go work with other people you’re offering expert services to others. But no matter how carefully you or your team members work, there are risks that your business can encounter daily.
Liability Incidents Could Potentially Ruin Allied Healthcare Providers
Consider what could happen when you or your employees visit a client’s offices or use a third-party location for any business-related activity. Unexpected accidents, such as trips and falls, could result in unforeseen medical bills that you have to pay.
In today’s lawsuit happy society, you could find yourself needing an attorney because someone sues you for libel or slander. Without even trying, you could find yourself in uncertain situations which create unanticipated financial risks that could leave you bankrupt or at least in a world of hurt.
Most business owners are already aware of the hidden risks. So you shouldn’t be caught off guard when you are required to show proof of insurance to an existing business which you discuss offering your services.
Not convinced yet? There is proof in the numbers…
Small Business Disaster Facts & Numbers
You can have everything aligned for your allied health business to succeed. But, if you get sued or have to pay medical expenses, your business could unexpectedly close the doors. As an independent contractor or small business owner, here are some statistics to consider:
50% of small businesses survive five years or more (Source: Bureau of Labor Statistics 2016)
10% of small business claims come from customer slips and falls (Source: The Hartford)
22.2% of small business owners experienced a client complaint or dispute. (Source: Insureon’s 2016 Survey)
If that isn’t enough, Insurance Journal cited the following top most costly liability claims for small businesses: reputational harm ($50,000), customer injury or damage ($30,000), customer slip and fall ($20,000), and struck by an object ($10,000). They went on to share that 35 percent of all general liability claims results in a lawsuit.
So what should you do?
Get Peace of Mind With A Cost Effective Easy Solution
Don’t become another failed business statistic because you didn’t take steps to protect your business. Get a general liability insurance policy so when a lawsuit or unexpected medical claim arises, your hard earned money isn’t at risk.
The minimum cost for a general liability insurance policy can bring you peace of mind and potentially save your business from financial ruin.
Are you an independent contractor or small business owner that provides allied healthcare services? You can enroll online in about 3 minutes and receive a policy by email the same day you sign up. If you’re still not sure, learn more here.
Are you a broker who wants to offer general liability to your clients? Learn more or get a quick quote. You can even add the application on your website.
by David and Tracy Bell | Jul 1, 2024
Imagine that you’re a prospective customer who needs workers’ comp insurance.
You’re searching Google looking for an insurance agent that offers the types of policies and services you need for your business.
You find several agents that look like they may have what you’re looking for, and you send each one the same email with a request.
The Story of Three Agents
Warm Welcome. One agent responds to your email inquiry immediately with a reply. He warmly thanks you for reaching out and lets you know that he will get back to you within the next 24 hours. In the interim, he sends information about their process for working with clients, so you know what to expect next. He also points you to a page with a Workers’ Comp checklist that has questions he should ask as you work together.
Unresponsive. Another agent never responds to your email request or phone calls for days or weeks. In fact, you start to wonder if you sent an email to the right address. When you call, you immediately go into a voicemail box but never receive a response.
Minimal Communications. The third agent you reached out to lets a couple of days go by before they send you a response. When they finally do, they merely point you to their website or a landing page. They don’t say anything more. This leaves you hanging wondering about the credibility of the agent.
Tough Questions to Answer
If you were the prospective client looking for help with insurance coverage, which one of the three agents listed above would you want to consider working with?
It is easy to see that the first agent had done a few simple steps to connect with the prospect and provide them with helpful information before they have even spoken.
The other two agent response examples show a lack of interest or consideration. If you were the prospective customer, you would mark them both off your list and focus on the first agent in a heartbeat.
Pause for a moment and think about the way you respond to your clients and prospects.
It can be tough to admit, but which of the three agents do you look most like?
Communicate and Connect with Customers
With any form of customer interaction, you can have success when you follow the age-old rule of treating others the way you want to be treated. Here are a few tips to consider.
Provide Timely, Personalized Responses: Today’s society is built on instant everything. We tend to look for immediate responses whenever we send an email. So how can you apply this? Give your prospects and customers a timely response that is personalized to them. Ensure they experience a connection and feel valued by you.
Write Clear and Concise Messages. We live in an age of sound-bite journalism. We all tend to scan the pages of things we see and read. From our emails to social posts and billboards—we all are guilty of scanning. So how can you overcome the scanning issue? Write clear and concise messages that are easy to understand.
Speak Your Client’s Language. It is easy to get caught up in insurance jargon or industry speak. Remember that your customers don’t have an insurance world dictionary to help them translate what you’re saying when you use buzzwords. Use easy-to-understand terminology and analogies without acronyms when you communicate. Doing so ensures your clients connect with you and what you have to offer.
Make Lists & Use Bullets. Writing a detailed paragraph takes up your valuable time. It also means the person you’re sending it to has to take time to unravel what you’ve written to determine how it applies to them. Consider writing short sentences. Make lists and use bullet points to make what you’ve written a quick read.
Give Calls to Action. Have you ever read through an email response and scratched your head wondering what to do next? Your client has, too. Make it easy on both of you by spelling out exactly what they need to do next. Give them a call to action.
These are just a few ways you can ensure you are effectively communicating and connecting with your clients and prospects. You can also apply this tips to every audience you reach out to – from vendors to carriers to customers and friends. Doing so consistently is sure to make a positive impact and create a win-win situation for everyone.
by David and Tracy Bell | Dec 14, 2023
The holiday season is a time of mixed emotions for everyone, as it can be both merry and stressful. However, it’s also an excellent opportunity to focus on building relationships with your customers and prospects while raising awareness about your business. By investing in your customers and prospects during this busy time of the year, you can help engender loyalty to your brand, which will pay off in the long run.
Here are some ways you can use the holiday season to build your brand:
– Send handwritten holiday cards to your customers and prospects.
– Stand out by sending your notes earlier in the season than others.
– Mail gift cards to restaurants as a token of appreciation.
– Participate in or sponsor community events to show your support.
– Organize local charity drives to give back to the community.
– Write helpful blog posts and create holiday preparation and “how-to” videos.
– Provide special insurance packages to your customers.
– Donate money to a cause that aligns with your brand’s values.
– Invite customers to festive happy hours to celebrate the season.
– Promote your donations or sponsorships to showcase your brand’s values.
– Host a customer thank you dinner to show your appreciation.
– Schedule a holiday open house to welcome customers to your business.
– Create a fun light or window display to attract attention.
– Give away stocking stuffers to surprise and delight your customers.
– Deliver gift baskets to your customers to make them feel appreciated.
– Organize a virtual ugly sweater contest and post the results on your website and social channels.
– Promote the contest and results in your newsletter.
– Offer holiday help, such as gift-wrapping services, to make your customers’ lives easier.
– Create 12 days of deals with special bundles to encourage holiday shopping.
– Educate and promote the benefits of your 12 days of deals.
By making a list of what you’re going to do to help your brand stand out during the holidays, you can take advantage of this season’s tremendous opportunities to build awareness about your business. While investing in others may seem daunting, it is sure to pay strong dividends over time.
by David and Tracy Bell | Sep 16, 2023
Paying your home insurance through escrow can be convenient, but if you want to change insurance providers, sometimes it can become a little tricky. Among other things, you need to make sure your mortgage lender knows where to send your premium payment. Otherwise, your premium could go to the wrong carrier causing a lapse in your home insurance coverage. While you and your insurance agent can rectify the situation, it can cause your mortgage payments to drastically increase over the next 12 months if an escrow shortage occurs.
Step 1: Find a new carrier
If you want to change homeowners’ insurance companies, your first step is to shop around. In some areas of the country like Coastal Florida (for example), some quotes will exclude wind coverage. You have to ask questions and it’s best to work with an agent to make sure you compare apples to apples. Once you get quotes and choose a company, you can proceed to the next step.
Step 2: Confirm the mortgagee’s information
Before you purchase your new policy, you’ll need to know exactly how your mortgage lender should be listed. This is called the mortgagee clause and includes your lender’s official name and the address to all policy documents will be sent.
The mortgagee clause is not just your lender’s name and the address to which you send your monthly payments; most companies also have unique addresses for insurance documents.
To ensure you include the correct information on your new insurance policy, call your mortgage company to confirm. Then, relay the information to your new insurance carrier before you purchase your new policy. Often, the purchase of the policy automatically generates documents to be sent to the mortgage on file, so the mortgagee clause needs to be correct from the start to avoid confusion.
Step 3: Purchase your new policy
Once you know the mortgagee clause on your new policy is correct, you can go ahead and finalize the purchase of your new policy. An agent or company representative will walk you through the steps, but you’ll likely have to sign an application and any other required forms related to your coverage. Because you’ll pay your insurance with escrow, you will not need to make a payment out of pocket. Your new insurance company will send a bill to your mortgage institution.
Step 4: Cancel your prior policy
Now that you’ve purchased your new policy, contact your current home insurance carrier to cancel your prior policy as of the same date your new policy is effective. Ensuring the dates are the same will prevent any overlap or gap in coverage. Even if your new policy is effective in the future, it’s still a safer process to start the new policy before canceling your old one. That way, if there are any issues getting your new policy started, you still have coverage through your old policy.
Step 5: Notify your mortgage company
Your mortgage company should receive a cancellation notice from the prior insurer and a declaration page from the new insurer, but it can help avoid confusion by letting your mortgage company know that you’ve switched insurance providers. You’ll likely need to provide the cancellation date of the prior policy and the effective date of the new policy (which should be the same date to avoid a lapse), as well as the name of the new company and the policy number.
Step 6: Send any premium refunds to your new escrow account
You may receive a prorated premium refund from your prior insurer if you switched insurance carriers mid-term. If you switch companies at your renewal period, you won’t get a refund, as all of your annual premium has been used.
Generally, you should contact your mortgage company to find out how to send this money back to your escrow account. While you could keep it, doing so could mean that your escrow will have a shortage and you’ll have to pay higher monthly mortgage payments to rebuild your escrow amount.
