It’s hard to understate how difficult it is to
own your own small business, unless you’ve
been there before. Your theoretical tool belt has to be fully stocked with a
myriad of personal skills including, but not limited to, finance, economics,
product/service offerings and more. There are some preparatory measures to take
that can help improve your small business success.
As of 2018, there are 30.2 million small businesses in the U.S. accounting for 58.9 million jobs in the country. It’s no secret that
small businesses are a crucial part of the U.S. economy and their success
should be important to us all.
Managing a small business comes with a unique set of challenges and opportunities. Often times, simply deciding which goals or tasks to prioritize can be a full-time job in itself. As a small business owner, you are probably under a lot of pressure with little room for mistakes. It’s easy to become quickly overwhelmed when managing the million different moving parts of a business but the good news is there are ways to make managing a small business easier. Here are five of our best small business management tips for juggling day-to-day operations.
It’s about that time — as baby boomers begin
to decrease their involvement in day-to-day operations and step away from their
businesses, the big question arises: who will take over the reins? Considering
nearly 10,000 baby boomers retire per day
in the US, this decision is becoming more and more commonplace. Having a comprehensive
succession plan in place for your small business will ease these major
transitions so that the business doesn’t suffer.
Recently we made a visit to Vern’s Cheese, a 3-generation family-owned business in Chilton, Wis. and had an opportunity to spend some time with Vern Knoepsel, President/Co-owner 1st generation; Edith Knoepsel, Co-owner 1st generation; and Kelly Knoepsel-Kress, Co-owner 2nd generation. We enjoyed learning more about their company history and why they have trusted Society Insurance to protect their business since the very beginning in 1964. Watch to learn more about the small details that have made a big difference for their business over the past 52 years. (more…)
Data breach is the exposure of customer information and it is becoming a more common (and frightening) occurrence. Could your business be the next victim, left to face tremendous financial costs, lost customers and lost reputation?
Consider these common causes of data breach: (more…)
Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share what business owners need to know to diminish the possibility of a data breach and its destructive impact if one is experienced.
MYTH #1: It won’t happen to me. Facts: No matter the industry, data breach is a real concern to any business. From restaurants and bars running hundreds of credit cards every night to medical offices with piles (both electronic and physical) of sensitive patient information, it can happen to anyone. (more…)
The insurance tips and trends to help you make smart safety decisions for your business, plus an inside look at Society.