Several things need to be considered when setting up a home office, not the least being how to insure it. If you are working at home under a telecommuting arrangement with your employer, the risk will be borne either wholly or partially by them. You will need to clarify exactly who is responsible for what before entering into the arrangement.
If starting a business from home, you are responsible for ensuring that the insurance coverage is adequate. Some different types of insurance for the home-based business operator to consider are:
• Office equipment
• Inventory (if stock kept on the premises):
• Public Liability
• Professional Indemnity
• Workers' Compensation
• Personal Accident/Income Protection
Many small or “micro” business operators may feel they need little, if any, additional insurance. Picture this…
Your home is struck by lightning during a major storm and all of your electrical equipment is “fried”. Your Home Contents Policy will cover replacement of household electrical appliances destroyed as a result of the lightning strike but does not cover equipment used in the operation of a business. Some companies do offer limited cover for home office equipment…yours doesn't.
Do you ever consult with clients at your home office? If a client trips on one of your children's toys and is injured, don't expect to be indemnified by the public liability section of your household policy. Any liability arising out of your business activities will be borne by you.
Think about this for a minute. Medical expenses, loss of income due to incapacity, not to mention legal expenses if the matter goes to court plus any judgement that may be awarded. Without Public Liability insurance for your business, one claim is all it would take to ruin you financially.
If you keep inventory on the premises, remember that it is not covered under your household policy. A separate policy to insure your stock will be required.
Perhaps you don't handle stock. Your product may be your expertise and talent such as a business consultant or financial advisor. What if your advice is proven to be wrong? A financial advisor whose clients lose a lot of money because of his advice may well sue him for that loss. Without Professional Indemnity insurance, another small business folds.
Another question to ask yourself is this: What effect would losing my home-based business income have on my current lifestyle? If the answer is anywhere from “hardly any” to “catastrophic”, some form of Income Protection or Personal Accident insurance is recommended.
Then there's Workers' Compensation. “Workers' Compensation?” I hear you incredulously ask. “But I don't employ anyone!”
Consider this …
You're a graphic designer and very, very busy. Demand for your services has grown so much that you occasionally subcontract out some of the work.
On one particular occasion, you contact another designer with whom you've worked before. He meets you at your favourite coffee “haunt” and you go over the job specifications with him. The meeting ends well and you look forward to receiving his part of the project in due time. He can't wait to get started (or to receive your cheque).
On the way home from his meeting with you, the other designer is involved in a car accident and seriously injured. He will be unable to work for at least eight weeks and has no Personal Accident insurance.
His was the only vehicle involved so there's no recourse there either. His only alternative to keep life in some kind of order is to claim Workers' Compensation…from you. Since the accident occurred on his way home from his meeting with you – someone who has offered payment for a service provided – it would be difficult to successfully dispute his claim.
Regardless of what type of business is being operated from your home, it is imperative that the correct insurance type and level of cover is obtained. As is illustrated by the examples given, it only takes one incident, giving rise to one claim that can ruin, not only a business, but also lives.
And it is not just the business operators who suffer. The injured parties who are themselves unable to earn a living, through no fault of their own, also suffer - as do their families. Even if a judgement is awarded in favour of an injured party, the now bankrupt home-based business operator involved would have no means by which to pay it.
Bottom line? Talk to an insurance broker today!
Insurance Company Home Office
That's right! Understanding the power of atttitudes training will increase the productivity of your company and home based business!
At the turn of the century, it used to be that employees learned they could get ahead at work if they checked their brains at the door. To get ahead, employees were encouraged merely to do as the employer dictated and not think while doing.
With the complexities of today’s multi-technological work environment, employees and entrepreneurs can advance their lot by checking their bad attitudes at the door and putting on positive thinking caps.
We’ve gone from worker robotics, to worker neurotics. Workers must now transform themselves from reliance on their IQs to self-reliance on their EQ (emotional quotient). The quickest way to emotional intelligence is to learn to control one’s attitude.
What is attitude? Attitude is disposition, demeanor; it is a manner of doing things. It is the spirit that underlies our behavior. It is the bearing and feeling that we put with our actions and the temperament that defines who we are and what we do. While a good attitude connotes a caring, positive and upbeat approach, a bad attitude is sullied by uncaring, rude and negative behavior. Bad attitudes in an organization can become a cancer that can drive customers and good employees away. As employers continue their efforts to downsize, merge, and streamline costs -- sped up by technology-- employees are caught up in the emotional squeeze.
How do we change the attitudes of employees and frustrated entrepreneurs? A training program on attitudes is a perfect solution. The right training program can help foster a more positive work environment for all employees, increase employee morale, improve performance and productivity and place entrepreneurs in the frame of mind necessary to be successful.
Overcoming the first obstacle – is naming the training program. When you want to change a persons attitudes through training, name the course so they will be excited and inspired to participate. Mandatory attitude training, for example, automatically causes resentment and resistance. Some individuals will say, I don’t have a bad attitude, why are they trying to fix me, or what did I do wrong to have to participate in this program. Like it or not, it is human nature to think the worst about these kinds of programs. Seminar titles like, “How to Stay Motivated all the Time" or “How to Be Better in All that You Do", work well.
It is helpful to take a measure of key attitudes that you want to change with the training. It is also useful to take the position that this effort is not just employee training for example, but long-term development because you want to change behaviors in the long run. You will want to assess the current state of the organization or your business that leads you to want to change employee or your own attitudes. Ask the questions: What behaviors are occurring that is symptomatic of poor attitudes? It may be that you have observed or experienced behaviors such as short tempers, poor customer treatment, or disrespectful treatment of others, which may lead you to conclude that attitudes training would benefit your organization. A short survey (using a rating scale) of employees for example prior to training, works well with questions that pertain to how they view the present environment and their own behaviors. This same survey can be administered several months after the training has been administered to see what gains have been made.
What is the content for effective attitudes training? – Individuals will enjoy training that is applicable to their whole lives, not just the workplace. Training should be interactive and participatory and use practical examples for learning, focuses on the individual and then the organization. Training objectives for participants:
You may not like your job or others around you. You may not even be able to change your position at the present time. But the one thing you can change is your attitude.
You may not be able to control your feelings but you can control your attitude. Attitude management is the ability to control how we act out our emotions.
Some useful elements of an effective attitudes training program include:
Self-assessment and personal inventory- to include personal assessment of how well an employee feels they interact with others inside and outside of the work environment
Developing Personal Effectiveness- to include opportunities for participants to visualize success and their own capacities and abilities, to strengthen inner resources and mental attitude
Assessing Limitations and Strengths – to include taking a realistic look at limitations and strengths and assess opportunities to capitalize on personal strengths. Identify those limitations that may not be rooted in fact but affect individuals capability to fully contribute, create or apply skills.
Understanding the Dynamics of Positive and Negative Attitudes-to include developing an understanding between the relationship between thoughts and actions.
Transition and Change Model – Incorporate a process to help individual employees identify attitudes they want to change and timetable that will let them transition plan.
Lasting change – Can be accomplished if we give individuals adequate time to adopt new attitudes, positive rewards and celebrations for demonstrating positive behaviors. Using the measurement tool to conduct a post assessment of training impact and rewarding participants for positive change will be reinforcing.
True empowerment is the ability to take control and avoid knee jerk emotional responses to hostile work environments or the challenges associated with your home based business. Remaining optimistic and positive are challenges that we all face in these circumstances. Attitude management is the ultimate productivity enhancement. Mastering the ability to maintain a positive outlook will draw others toward you and keep you motivated to achieve more with what you do.
Both Jim Christian & Kenny Anderson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Jim Christian has sinced written about articles on various topics from Pets, SEO Articles and Pets. QuoteSphere was developed to help those that are in the middle of an insurance crisis. In the United States we have seen a continuing rise in the cost of home insurance.
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