http://truoptions.com/blog/ Latest Entries in the TruOptions Learning Center en info@visionpointmarketing.com Copyright 2009 2009-12-09T21:41:39+00:00 http://truoptions.com/learning-center/entry/automobile-insurance-basics/ http://truoptions.com/learning-center/entry/automobile-insurance-basics/#When:21:41:39Z Automobile insurance is used to protect you against expenses if you are involved in an automobile accident. Liability coverage is required by North Carolina law. The liability section can be separated into Bodily Injury Liability and Property Damage Liability.  Bodily Injury will pay for damages to other people as a result of an accident caused by you or another covered driver. Vehicle Insurance 2009-12-09T21:41:39+00:00 http://truoptions.com/learning-center/entry/homeowner-quote-basics/ http://truoptions.com/learning-center/entry/homeowner-quote-basics/#When:21:41:23Z When requesting a quote for homeowner coverage, some of the questions you will be asked include:  What is the location or physical address?  What is the age of the home?  What is the construction type?  What is the value of your home?  Do you have any special collections or high-valued items that need to be covered?  Do you know your fire district?  How close are you to the fire department or fire hydrant?  Have you had any previous homeowner claims? Home Insurance 2009-12-09T21:41:23+00:00 http://truoptions.com/learning-center/entry/automobile-insurance-quote-basics/ http://truoptions.com/learning-center/entry/automobile-insurance-quote-basics/#When:21:40:01Z Automobile Insurance rates are determined through underwriting.  Underwriting is the process by which an insurance company considers your application and evaluates your driving record and other factors to see if you meet its guidelines. Insurance companies use a variety of factors to determine the level of risk each applicant presents.  Each company will use its own underwriting guidelines. Vehicle Insurance 2009-12-09T21:40:01+00:00 http://truoptions.com/learning-center/entry/a-strategic-plan-and-mission-statement/ http://truoptions.com/learning-center/entry/a-strategic-plan-and-mission-statement/#When:21:39:48Z Some smaller family companies reject the idea of a “mission statement” as too “high-brow” for them.  “We build homes”, said one business owner.  “What kind of mission can you make out of that?” A mission statement not only describes what the business does, it also describes how it does business and for what purpose.  A mission statement reminds everyone how it does business and for what purpose.  A mission statement reminds everyone why the family is in this business, what its standard of quality is, and what goals it hopes to achieve.  If the company slips off track at some point, reference to mission statement can help bring it back. 2009-12-09T21:39:48+00:00 http://truoptions.com/learning-center/entry/a-hard-days-work-for-a-hard-earned-dollar/ http://truoptions.com/learning-center/entry/a-hard-days-work-for-a-hard-earned-dollar/#When:21:38:01Z More than one company has split at the seams because there was no agreement on what kind and level of effort was required of family members who wanted to enjoy the business’ benefits.  Without that agreement, the idea emerged – and perhaps having a token title – was the only criterion for taking home money or enjoying perquisites. The moral of family members and non-family employees alike plummets at the sight of a family member putting in 12 hours and taking home the same or better compensation as another employee who puts in 12 hours a day.  It may take a hard nose to do it, but the family has to set forth in clear terms what inputs are required to be eligible for the outputs. 2009-12-09T21:38:01+00:00 http://truoptions.com/learning-center/entry/a-policies-and-procedures-manual/ http://truoptions.com/learning-center/entry/a-policies-and-procedures-manual/#When:21:37:15Z Family members working together many hours a week to run a five or six person business might feel they have no time for putting together a policies and procedures manual. But what they really have time for is an endless series of disputes and disagreements over compensation, benefits, work schedules, holidays and vacations, incurring debt, hiring and firing offspring and other family members, sharing ownership, and other vital issues.  In most cases, a few nights and weekends devoted to ironing out such details and developing written company policies and procedures that everyone can refer to will save untold hours, dollars and heartaches later on. 2009-12-09T21:37:15+00:00 http://truoptions.com/learning-center/entry/transition-planning/ http://truoptions.com/learning-center/entry/transition-planning/#When:21:35:14Z Even the struggling setup company or the very small business, is owned by somebody.  If that includes family members or other co-owners of closely held shares, it’s never too early to negotiate a buy-sell agreement to define how ownership changes will be handled. No family company is immune to the difficulties that can be caused by death, divorce or hard-headedness within the family.  Before such things appear, they should be covered by a buy-sell agreement that has been worked out under relaxed conditions with competent professional advice.  The time to plan for bad times is during good times. 2009-12-09T21:35:14+00:00 http://truoptions.com/learning-center/entry/commercial-insurance-matters/ http://truoptions.com/learning-center/entry/commercial-insurance-matters/#When:21:33:00Z Commercial Insurance enables a business to transfer the financial consequences of a loss to an insurance company.  The insurance company, in turn, pays the policyholder for covered losses. Commercial Insurance is one of several techniques used in risk management, which is the process of identifying, analyzing and managing loss exposures so that an organization can meet its objectives.  These techniques can be used as part of an overall process to help your business succeed. 2009-12-09T21:33:00+00:00 http://truoptions.com/learning-center/entry/want-your-business-to-succeed-run-it-like-a-business/ http://truoptions.com/learning-center/entry/want-your-business-to-succeed-run-it-like-a-business/#When:21:30:32Z Some of the most unnecessary problems that family owned companies get into result from failure to run their businesses as businesses. But a family business is an altogether different enterprise.  The stakes are higher, and organizing work, allocating resources, and assigning accepting responsibility are more serious.  For many families, the business constitutes most, if not all, of the assets, income stream and hope for a secure future.  So running the business deserves very serious attention. 2009-12-09T21:30:32+00:00