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1 month ago

Galveston Financial Capital: Starting Your Business

Questions?

 

1. What basic skills do I need to run a business?

2. What business should I choose?

3. What do I need to start my business?

4. How long will it take to start a small business?

5. How can I get my business certified as minority or women owned?

6. What insurance should I have?

7. Do I need to obtain a Federal Identification Number?

 

What basic skills do I need to run a business?

 

Starting a business can be challenging and previous business experience can be an important success factor. First hand knowledge of business and its four functional areas – management, operations, marketing, finance – and an understanding of the role of technology, contribute to a solid foundation and provide a basis for making informed business decisions.

 

What business should I choose?

 

Business experience is a plus, and the right kind of experience gives you an edge. Having worked in the industry you choose for your new business gives you insight and know-how that can be invaluable. Combine your background in the industry with strong management skills and you are on your way to success.

 

What do I need to start my business?

 

The Texas Road Map to Starting a Business contains directions to get your business off the ground and help strengthen our state economy along the way. This booklet covers eight essential steps to starting a new business.

 

How can I get my business certified as minority or women owned?

 

Federal, state and local government agencies as well as large private sector corporations have different eligibility requirements and application processes for certifying your business. The common denominator is that the business MUST be at lease 51% owned and controlled by one or more individuals who are eligible for certification. Consult your target customer to determine which certification(s) they accept. Then, learn the requirements and rules to determine if you are eligible to apply.

 

What insurance should I have?

 

An important aspect of your business is a well-planned insurance program. Types of insurance you should consider are:

 

•  Property Insurance

•  Liability Insurance

•  Product Liability Insurance

•  Automobile Insurance

•  Workers' Compensation

•  Disability Insurance

•  Business Interruption Insurance

•  Health Insurance

•  Life Insurance

 

Do I need to obtain a Federal Identification Number?

 

Sole proprietorships without employees can use the proprietor's social security number as a business identification number, providing the proprietor uses his or her own name for the business. Using a different name and/or hiring employees requires obtaining a federal identification number from the Internal Revenue Service (Form SS-4, Application for Employer Identification Number).

2 months ago

Get Prepared: How to Safeguard your Small Business against Cyberattacks

Every business that uses a computer, email, software and the internet on a daily basis should establish computer security to protect their business on threats from cybercriminals. In most cases, small business are an appealing target for cybercriminals due to their lack of resources in establishing a strong security for their website, accounts and networks systems, thus, making cyberattacks a relatively easy job. Remember, a single successful cyberattack can seriously damage your business. Here are some and simple practices you should implement to strengthen the internet security of your small business:

 

  • Create and implement basic security practices and policies for all your employees to abide and educate them on cyberattacks and the impact it may bring to the business. This will ensure that your staff has appropriate awareness training, so that everyone understands their role in keeping the business secure.
  • Frequently back up important data. For added security, encrypt it. Store your backup copies either offsite or in the cloud. Computers and electronic devices must be physically locked and secured to prevent unauthorized access.
  • You must require a strong unique password on all your computers to make sure that only authorized individuals have access to the data. Consider creating a password expiration policy or implement a multi-factor authentication that requires additional details aside from a password to gain entry from the system.
  • Make yourself updated on latest schemes that cybercriminals do to victimize a business. Learning the newest threats on your business will help you in establishing a plan to protect your business even more.
  • Make it a habit of shredding documents and receipts that contain sensitive information such as personal and financial details if it is no longer needed.
  • One of the basic precautions to protect your company’s data is to make sure that all computers have antivirus and antispyware software installed and up-to-date. Make use of firewalls and spam filters too for added security.
  • Consider the services of a trustworthy company that works with small business to do difficult or time-consuming task. Such as utilizing the payroll service of Automatic Data Processing Inc. (ADP). 
5 months ago

Insurance Fraud Advocacy: Taming the workers-comp monster in California

Crooked providers, lien setup bleed comp system

 

If you need more proof the workers-comp system in California is a mess, look no further than the report this week that indicted and convicted medical providers filed more than $600 million in liens against workers-comp claims.

 

The lien system in the state continues to be fertile ground for fraud. Designed as a safety net to ensure injured workers get treated, it’s now a slush fund for crooked medical providers and lawyers.

 

Fraud and abuse are rife in Southern California, where medical rings are targeting just-retired workers, says one insurance exec who wrote us this week. Runners hang out at Social Security offices and other venues frequented by retirees. They entice the retirees to file claims by offering free medical care and a windfall to supplement retirement income. The retirees are brought to lawyers’ offices, signed up and then shuttled off to medical offices for “treatment.”

 

The number of worker “injuries” occurring on the last day of the job is rising, this exec says.

 

Legislation to help weed some of these abusive providers out of the system is cruising through the California legislature. The bill would ban providers who’ve been kicked out of Medicare and Medicaid for over-billing. The bill sponsor says there’s evidence that crooked docs banned from government health plans have turned to workers comp to ply their trade.

 

The sponsor also says his legislation will target lawyers who sign up comp clients, but never actually interview them, then file claims for them in distant cities and ultimately settle the cases for their fees — often without the workers’ knowledge.

 

The legislation is a good idea, but much more needs to be done. Workers compensation in California is a huge, complex multi-faceted program. There are no easy answers on how insurers, employers, policymakers and others can hit that sweet spot of minimizing fraud while making sure injured workers get the treatment they deserve. But finding a better way than the lien system might be a good start.

2 years ago

Meir Ezra Blog and Guaranteed Results

"Follow The Processes And You Cannot Fail"

 

Those are the words that first caught my attention in November 2012. Since that time I have invested over 1,000 hours in training with Meir Ezra and supporting resources. It is not the training that results in the guarantee. It is the application of the training that allows Meir to clearly state with every product offered that he guarantees you will be happy with the event or course or coaching. If not your money is returned.

 

What Is The Secret Behind Offering An Iron Clad Guarantee?

 

There is not secret! Here is the formula and I know because I now work with him and I am responsible for the Division that delivers coaching and courses. The formula.

 

1. Deliver amazing content that is so valuable for building a business and is founded on principles of personal ethics and happiness.

 

2. Structure a coaching system where the client sees progress daily and when they do not they understand what action is needed. This system like other business processes begins with clear targets. These targets are part of a bigger picture of developing a client organization that has seven divisions in harmony. The larger picture is in line of site however, this ideal scene is developed by producing income from transactions. The faster the client is able to produce income the sooner the idea scene can be painted. The daily and weekly focus is on answering the question “what do I need to do today to get the lead that I want, sell the product or service I want – in other words what do I need to do today to achieve my daily weekly monthly etc goals?” Of course that is how the client is guided by the coach.

 

3. Meir leads the team that delivers the services to the clients. This does not just mean he is at the top of the Organization Board. This means he tracks everything that is being done and in the case of coaching there is a third party quality control system that includes a written report and a recording that goes directly to Meir and the coach.

 

4. Meir Ezra teaches and lives the principle “we are the cause”! This means if the client is not succeeding it is because of the teacher not the client unless there is a personal behavior barrier for the client. Even then Meir’s view is let’s help the person then we can restore helping them build their business.

 

This is only a “birds eye” view of the process. For me personally, I have consistently achieved success with coaching clients. Now that I am applying what Meir teaches, I am seeing the success curve increasing much more rapidly. Here is one example and we have quite a few developing at this point: One of our clients has a definitive skill but was not using that skill to make money. He was working on an idea for a different business when we met him. Meir looked at this situation and in a couple minutes outlined the plan for him making money. I called him today since he had not responded to several emails and he is normally very good about that. He apologized and said he has just been busy working with companies and making money. I will get an update on then numbers in a few days. I already know he is on track to exceed his targeted monthly income.

 

I will end with this: As a coach I am accountable for the success of those I coach. As a Div Head I am accountable for the success of all in the coaching program. With the support of Meir Ezra and by following the processes the clients will achieve and in most cases exceed their success expectations. I am very happy to be able to write this with such certainty.

 

May your success exceed your most amazing dreams and desires!

 

Steve Pohlit

 

PS Would you like to know how we can help you or do you have questions? Call me 727-587-7871