Tag Archives: marketplace

6 Deadly Sins For Entrepreneurs

The word “entrepreneur” conjures up different images for different people; bold, clever, gutsy, reckless. To the entrepreneurial spirit, a life spent in the 9 to 5 may as well be a life spent in shackles.

Entrepreneurs want, need to experience all the highs that life has to offer, and aren’t afraid to plow their way through the down times to get to them. Tell the entrepreneur that 9 out of 10 businesses fail, and they will get to work building ten businesses – just to revel in that one success; to them, a failure is nothing more than a learning experience.

Building a successful business is about taking a chance. The trick is to know the difference between taking a chance and pure recklessness. The same gutsy attitude that carries many entrepreneurs to the top can also bring them crashing down if enthusiasm isn’t tempered with a little wisdom along the way.

Many of life’s harder lessons can be avoided if you take the time to learn from the failure of others. Get your idea off to a flying start by staying away from these six deadly sins many fledgeling entrepreneurs make before they learn to fly.

1. Have a Great Product Without a Market Strategy

Just because you have an idea for a great product does not mean customers are going to be knocking down your doors to get to it. They need to hear about it first. From the very first germ of an idea, start work on fine-tuning the details of your marketing and distribution strategy. Only when you have all the pieces in place should you launch your business.

2. Trusting in Yourself Too Much

Sure, self-confidence can carry you a long way, but no one person can take care of all the necessary details of the modern small business. Know your weak spots, and then take steps to shore them up by surrounding yourself with those who specialize in those areas.

3. Don’t Lose Focus

One bright idea often leads to another before the first even gets off the ground. While the enthusiasm is running high, you feel invincible and think you can keep everything up in the air. Most end up losing focus, however, and everything soon comes crashing down.

Give 100% attention to your current objective. Taking on more will only extend you to a breaking point, and something will eventually have to give.

4. Moderate Your Passion

Passion is the driving force behind many businesses, but lots of success happens outside the realms of our passion.The point we’re trying to make is there is no sense in blindly pursuing your passion when you could be seeing more success in some other rapidly growing trend or industry.

5. Stay Professional

Many new entrepreneurs want to be friends with everybody, it’s only natural, they’re still human after all. So, they make the mistake of forming bonds with employees and clients and start hanging out at clubs, and bars, and popping over for a barbecue. This behavior is an excellent way to make new friends, but it can also rapidly bring your business to a grinding halt.

Keep it professional, and be the business person they can look up to, rather than just another buddy with which to hang out.

6. Don’t Avoid Confrontation

Confrontations are unpleasant, but sometimes they are a necessary component to getting things done. If you don’t deal with awkward situations today, they could come back to destroy your business tomorrow.

The Importance of Offering Group Benefits to Your Employees

As a business owner, it is important for you to offer your employees the protection they deserve and make your company a place where people want to work. Group Benefit plans are particularly helpful because it allows employees to track, identify and treat any issues on the spot.

The reality is simple; your workers will not be able to give you their best performance unless you make sure to provide them with the right coverage and guidance. Luckily, you are not alone. Companies like Lewis & Palmer are here to help you offer your hard working employees the assistance they need. With the proper plan, every employee can maintain a good health and stay away from conditions in the long term that may limit their work performance.

It is not easy to get the best value without the right coverage, and this is why it can be imperative to hire a group benefits company to intercede. After all, nowadays, employees do desire and expect higher benefit levels. If you are a business owner or if you are in management, it is important to have a clear understanding of the benefits that are valued the most by employees. Here is a list of group benefits that are available for you to provide to hard-working employees.

•    Group life insurance and AD&D
Group Life Insurance can provide financial assistance when an employee faces an unexpected event and needs relief. The proper insurance can make sure that the employees family members are financially protected in case of a tragic event. This kind of insurance is also in a position to provide coverage against serious accidents, which cause the loss of body parts including limbs.

•    Group long term and short term disability
The employees are always concerned about the loss of income in case of a disability. They don’t even wish to think about it. However, accidents can happen anytime, anywhere, and employees might have to face such unfortunate incidents in life. They are unavoidable, but group long term and short term disability have the ability to provide an excellent financial assistance to them in such situations. Therefore, a working person must be provided with some sort of disability insurance.

•    Group medical insurance
It is the responsibility of the employers to take care of their hard working employees. Therefore, it is crucial to provide them with a reliable group medical insurance. When employees fall ill, they will have to spend a considerable amount of money out of their pockets to go for treatments. Group medical insurance can keep them away from that hassle. This would provide an ideal environment for them to focus on their responsibilities instead of anything else.

•    Group dental care
If you want your employees to maintain proper oral health, you should encourage them to visit the office of the dentist on a regular basis. However, dental visits can cost a significant amount of money for the employees. That’s where group dental care insurance can help them with by taking care of the financial expenses that they will have to bear at the office of the dentist.

•    Employee assistance plans
Lastly, you need to consider about providing group employee assistance plans. This would provide them an excellent support when they encounter frustrating situations in life such as divorce, the death of a loved one and parenting. In such instances, your employees would require additional finances to get through the difficult stage in life. The employee assistance plan is in a position to cater that financial requirement and help the employees to stay away from frustration.

Overall, productivity is crucial for your business, and giving your employees the proper guidance to approach any struggles can be incredibly beneficial for your regarding productivity and growth in the long term.

For more information about Group Benefits Plans available, contact Lewis & Palmer and set an appointment for a free consultation to find out more.

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Are you ready for Afforable Care Act Health Insurance Open Enrollment?

Enrolling for health insurance through the Affordable Care Act (Obama Care) provides a number of benefits, particularly for low and middle-income families, as well as businesses. Doing so during the annual enrollment period is a sure-fire way to save money. It represents an opportunity to reconsider your healthcare coverage. As the 2017 enrollment season nears, it is the ideal time to begin planning.

Open Enrollment begins on November 1, 2016. Since last year’s enrollment period some changes have been applied that you need to know about.

Affordable Care Act Changes for 2017

As the regulatory framework for the Affordable Care Act continues to change, it brings a number key benefits to policyholders. As can be expected, 2016 ushered in its fair share of updates.

Some the changes include the following:

  • Health insurance tax waiver for 2017 – this leads to a significant reduction in premiums and overall costs (up to 3 percent).
  • Affordable Care Act reinsurance program discontinued for 2017 – the program conducted assessments on payers and distributed proceeds to insurance providers with non-group enrollees.
  • Changes to the SEP rules – aimed at addressing concerns by insurers when it comes to adverse selection from SEP enrollees.

How To Enroll In Obamacare

Enrolling in Obamacare is as easy as clicking your mouse. When you go online to enroll you will want to gather your family’s tax information, as well as your own. You will also need to provide relevant information about each of your family members that is obtaining health insurance. If you or anyone in your family already has health insurance you must provide pertinent information about it.

Why You Need Obamacare

Obtaining insurance through the marketplace will allow you to get proper healthcare for yourself and your family. It will give you peace of mind in knowing that your loved ones are taken care of.

 

Carefully reviewing your options during the open enrollment period will undoubtedly help you make a well-informed decision. Whether you take prescription medication or are planning to have a baby, it is vital to consider enrolling through an approved health insurance marketplace. Missing out on an open enrollment period can translate to tax penalties on your tax return for 2016.