The Wet Cupcake Incident: A Lesson in Risk Management

The other day, I learned a lesson about owning and operating my own business. Fortunately, the lesson that I learned was not very physically, emotionally, or economically painful. It was, however, quite wet. Two weeks ago, I arrived at my Wednesday farmers’ market and set up my booth as usual. My booth consists of a sun/rain canopy with a table underneath it. Business was slow for the first hour or so, and I was making the most of the idle time by playing with my son. It was the first time that I had let him sit directly on the … Continue reading

Managing Risk in a Home Business

One of the terms that come up again and again in the corporate and business world is “managing risk.” As a sole proprietor or small, home business owner—we get to figure out what our risks are and how to manage them on our own. The idea isn’t to shy away from all risks or run headlong toward risk and uncertainty—but to find a way to minimize risk and maximize opportunities. Not all risks are financial, although many are. Other risks affecting our home businesses might be business relationships, contacts and prospects, and time management. For example, it might be risky … Continue reading

What Do Our Businesses Teach Our Kids About Work?

I like to think that my home business is modeling some really great things for my kids. Of course, they often wish that I had a “real” job or something that looked more like many of their friends. But, they’ve also grown so used to my flexibility and availability that they take my presence for granted. If I worked a hard-driving 60-hour a week job, they might not have absorbed the same sorts of things about work that they have from being around my home-based business. I’m hoping that my children are learning work ethic and the realities of how … Continue reading

Insurance Terms: I

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Income Protection Insurance is a type of disability income coverage providing an income benefit both, during the time the insured policyholder is totally disabled and unable to work. But also offers coverage when an insured policyholder is able to work, but due to a disability the policyholders earning are less than then before the disability. This is also called residual disability … Continue reading

Launching A New Product or Service

So, your business is humming along nicely and you have established a good client or customer base and you are feeling confident in the products or services you offer—so confident, in fact, that you are ready to try something new and introduce an entirely new product or line or service as part of your home business. Well, there is a big leap between “wanting” to do something and actually getting to the successful launching—so how do you get from wanting to doing? It really all comes down to planning. The more organized and detailed your plan for launching something new … Continue reading

Thinking About Cutting Costs

One of the basic “givens” in running a business is having to pay attention to the bottom line and periodically look at expenses and find ways to cut costs. If you are new to business, or have not really been involved in budgeting and managing expenses before, it can seem pretty daunting trying to figure out how to evaluate and cut your home business expenses. The first thing to do when it seems necessary to cut costs is to make sure you have an accurate budget listing real and estimated expenses. It is important to have extensive information in order … Continue reading

How Many Conferences Should You Attend a Year (if Any)?

There are pros and cons for attending conferences as a home business owner. The challenge is to figure out if the cost of attending the conference pays off in terms of knowledge, exposure, and networking. I’m not talking about businesses where you do the bulk of your sales through conferences and expos—but the type of professional conferences that are geared toward specific fields and trades. Is it worth it to attend, and if so, how many conferences should a person attend in a year? Conferences can be expensive. You have to factor in your tuition, the price of hotel rooms … Continue reading

3-Tips To Keep Your Kitchen Bacteria Claim Free While Cooking.

The last thing we want if we are, the host of a dinner or party is to make our family and guest sick. If we are going to go to all the trouble to be a host then we want everyone to remember the experience for the right reasons, and not because someone is hurt or sick due to a liability we have in our kitchen. We might have a Homeowner or renters insurance policy that would cover Guest Medical and Liability Claims but the most important part of risk management is to avoid the claim in the first place. … Continue reading