New Year's Resolutions are often made on an individual level, such as improving health, better time management, or reaching financial goals. However, business owners and entrepreneurs can benefit greatly by creating resolutions or goals for their business in 2014. This proactive process gives owners an opportunity to take stock of the current health of the company, set financial, sales or growth goals, and also reflect on past successes or mistakes to learn from them for the future. These simple steps can help companies of all sizes and from all industries grow and flourish for years to come.
Plautus, an Ancient Roman playwright, once wrote, "You have to spend money to make money." Business owners and entrepreneurs know the truth in this phrase, especially when first starting a business, and later when growing or expanding a company. Although increasing sales or expanding into a larger or second location are great business goals to strive for, realizing those goals often requires new capital for new equipment, bigger structures or office space, additional technology, company vehicles, larger inventory and more employees. All of these increased assets also increase the value of the company, so it is important that these additional investments and assets are well protected with quality business insurance in the event of a disaster.
Many Houston-area companies experienced the difficulty of losing valuable assets to the devastating floods and wind damage of Hurricane Ike in 2008, especially those with multiple locations and large amounts of equipment and inventory. Many businesses like restaurants, florists, auto repair shops, HVAC repair companies, and more lost not only revenue, but also expensive equipment, large amounts of inventory, company vehicles or technology like computers or security systems. The reality is that many businesses experienced difficulty making a financial recovery, or were unable to reopen because they were underinsured for their business and assets. When considering company expansion, make sure your company has comprehensive business insurance in place to protect the immediate and long-term future of your business, inventory, assets and employees.
Finally, business owners and entrepreneurs who want to grow their business in the new year might need to evaluate if the business insurance they have is best suited for their industry. Many companies do not realize there are business insurance policies tailored to specific industries that offer specialized insurance solutions for the future. The business insurance needs of a law firm are likely to be vastly different than those for an auto repair shop, restaurant or florist, so it is critical to have business insurance that promotes, not hinders, future growth and expansion.
Aegis, a Houston-based insurance agency, strives to help business owners and entrepreneurs grow and succeed in this volatile economy by offering custom business insurance policies tailored to specific business needs. The friendly and knowledgeable agents at Aegis can help provide quality business insurance needs for companies of all sizes, and offers insurance policies for General Liability, Workers Compensation, Company Automobiles, Business Owners Policy, as well as industry-specific business insurance policies. Aegis can also help businesses achieve their financial goals faster by offering substantial savings by bundling business policies together to get lower annual premiums. Contact Aegis directly at 713-850-7622 or go online to get a free quote and request more information.