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BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers.

 

Recent Posts

5 Tips You Should Consider to Make the Right Tenant Selection

Real estate investors have quite a to-do list when it comes to minimizing risk for their investment property portfolio. You must consider things like adequate insurance coverage, estimated home maintenance costs, potential tax implications, and how to find and keep the right tenants for your rental properties.

While finding a tenant may be easy for some investors, particularly if you're in a popular location, finding the right tenant is not always so simple. Unfortunately, if you don't find the right tenants, it could cost you substantially. Even if you have potential renters waiting in line to take a peek at your freshly painted rental, being picky pays off. From unpaid rent, expensive maintenance repairs, and the legal fees associated with an eviction, settling on the wrong tenant could cost a landlord big.

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Protect Your Business With Employment Practices Liability Insurance (EPLI)

As a business leader, it is important to protect your company. It is your livelihood. One important thing to safeguard your business from are employment lawsuits. In the past 20 years, employment lawsuits have risen nearly 400%. Most are filed against large corporations, but no company is immune. Whether large or small, employment practices liability insurance policy (EPLI) is one way to protect your business from the potential monetary damages that a lawsuit can bring.

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Cyber Insurance is Quickly Becoming a Must-Have—Are You on Board?

The term “cyber insurance” is quickly becoming a household phrase, plastered on more and more billboards, sprinkled throughout early morning radio commercials, and magically trolling you on your favorite websites. Early adopting businesses across the country are allotting more budgeted dollars to cyber liability insurance in hopes of assisting in a potential cyber incident. Overall, the cyber liability insurance market continues to develop and expand, but is your business on board?

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Is Your Business Too Small to Suffer a Cyber Attack?

As a small business owner, you may have not considered the need for cyber liability insurance due to the overwhelming number of other priorities that have your focus. Think larger companies that have suffered a cyber breach are in their own league and non-relatable to your circumstances? Do you consider your business to be too "small potatoes" for anyone to breach? Think again.

Cases like Target and Neiman Marcus should influence businesses of any size to consider cyber liability insurance, even if you are a one-man shop. Unfortunately, a  number of organizations have yet to invest in this product. In fact, a survey of insurance professionals, conducted by Hanover Research, found that 40% think businesses don’t think they need cyber coverage and 29% believe they’re already covered under existing policies.

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4 Ways to Minimize Employee Fraud and Theft

Unfortunately, we live in a world where businesses, and people in general, have to be prepared for the possibility of a robbery or theft. For a business owner, it can be hard to think about your trusted employees engaging in dishonest or fraudulent activities that could harm your company, but the fact of the matter is, it happens more often than you think. Here are some of the cold hard facts from the 2014 Report to the Nations on Occupational Fraud and Abuse:

  • Employee-perpetrated fraud accounts for a global loss of $3.7 trillion annually

  • It can take, on average, 18 months before a business detects employee-related fraud

  • One in 40 employees was apprehended for theft from their employer in 2012

  • Employees in sales, financial roles, management, and customer service were responsible for 77% of fraud cases

  • 43% of business losses were attributed to employee theft

As you can see, internal fraud does occur, and when it does, businesses are impacted in a big way, right at their bottom line.

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How To Give A Winning Sales Presentation: Part 2

Welcome back to our two-part series on giving a winning sales presentation. In Part 1, we talked about developing your business' story and finding a way to tug on your audience's heartstrings. Now that you've had an opportunity to spend some time thinking about your business' identity and finding a way to connect with your audience on an emotional level, it's time to start creating your presentation. So, without further adieu, here we go:

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How To Give a Winning Sales Presentation: Part 1

In this two-part series, I'm going to give you a recipe for giving a winning sales presentation—the kind of presentation that inspires and moves an audience to invest in your company, buy your product, and/or believe in your vision.

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Avoiding a Cyber Security Breach: 5 Ways to Protect Your Business

Cyber crime is a clear and present danger. Most, if not all, organizations take precautions to avoid loss from traditional robberies or theft, but may not give cyber security a second thought. However, getting hacked could put your proprietary and/or confidential business information, your customers' private information and assets, and your organization's reputation on the line. 

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