Tuesday, July 22, 2014
In the times not far from now, the business organizations used to take the print of the card and to follow up, they issued charge slips to the card holder. This charge slip was duly signed by the user after verification and was taken as an acceptance by the user to pay the liability. However, these actions have become the things of the past as in the present world, the sale takes place instantaneously. The machines, used for the transaction, are light and portable. They acknowledge major credit cards issued by leading companies. Apart from the credit cards, these machines also accept debit cards of all major banks. These machines do not come in any standard design and shape. The device is connected to the master link and there is a slot for swiping the card. The moment you swipe the card in the slot, the device recognizes the card by reading the microchip embedded in it. The read information is then sent to the computer for verification and authorizing the deal. This process hardly takes a few seconds and the user gets the deal approved in a small span of time. The card reader is the most significant part of the device.
When the card is swiped on the device, the information in the embedded microchip is transferred to the bank or the credit card company. The machine then prints out the receipt having the detail of the purchase and the money that the user has to pay to the merchant establishment. There are two receipts printed, one is signed and handed back to the merchant and the other receipt is retained by the card holder, known as the customer copy. It does not take more than a few seconds to complete the whole process. The contemporary credit card machines are more user-friendly. They come equipped with an alphanumeric keypad which is easy to use. The modern devices also boast of special features, such as the LCD display. Some machines also come attached with thermal printers making it easier for the merchant to take prints instantly.
You can come across these machines in almost all the hotels, restaurants, petrol pumps and departmental stores. The device is also helpful in producing information on sales and a total of credit given out on a daily basis. These machines are also efficient in keeping track of transactions and debt payments on credit cards. These also come in wireless units, which is the latest technology perfected lately. The wireless devices are much in fashion and can be seen during carnivals, trade shows and exhibitions.
Monday, July 21, 2014
Are you an insurance rep that has killer instincts to level the field and then seize the sale? If you feel defenseless, exhausted, or powerless, your future is doomed. Find out what separates the pros from the many inadequate insurance representatives.
An insurance representative that aggressively oversells is very weak. Likewise an insurance rep that is constantly caught in an objection trap is way too fragile when giving a presentation. Both are defenseless and vulnerable because they can not adapt to the prospect. It does not matter if you even like your prospect. Can you by talking develop a common bond of trust.
The rare successful reps develop a killer instinct by losing their fear of the prospect controlling them. Almost all prospects are experts at knowing when to buy. However, it is a rare insurance representative that knows when to sell and when to be a problem solver. Far too many insurance reps are problem makers. They actually cause the prospect not to purchase. Hope, pressure, and lack of control never create a sale.
Do you have a buyer, or are you going to waste a couple hours with a tire kicker? Adapt to a killer instinct. Tell yourself that you are ready to walk away as fast as possible from evasive prospects. Do not tolerate or accept any ands, ifs, buts, or the see you later responders.. Rarely will these people do more than string your along for months and months. Do not be a sap, call their bluff by acting dumb. Start by asking them to repeat their objection again. Then reply "Fine". Next say, "In all my years I rarely ever hear that, so please explain what you really mean."
If you get an answer that is not positive, just remember this prospect needs you more that you need him. He may say "I will call in a few days" Immediately reply, "I constantly help new clients, I only come back if you have a claim situation." That is it, your prospect is a loser for a sale. End an appointment in 15 minutes should your prospect does not feel he has a problem to solve. This is not a true prospect, so give yourself credit for recognizing it and leaving early. Just like you get away from irritating telephone solicitors you have no use for, dump these type of reject prospects as fast as you can.
Killer Closers are simply the problem solvers of the sales world. Before they visit a prospect they get him to admit that there is a problem to solve. In fact, they have the instinctive power to say why they are the true rescue person. You are going to use your product to solve their fear. However, it is your job to get your prospect to feel the pain. Ask them how they can solve this painful problem. Do they want to solve it? Or are weak instincts showing? They know you don't have the pros' skills, and are just pumping you for information or trying to give you a line? Killer instincts invite prospects to not ask stupid roadblock type questions.
Applying the killer close is easier then you think. Put your prospect's mind in the right perspective. Tell them you are not going to sell them anything, You are going to get them to solve a problem.. You want your prospect to acquire the ideal solution to fill the gap. The gap you both know that will be best solved by your insurance product.
As an insurance representative, the time for you is now. Develop the killer instinct of an insurance professional, and make you client reach out for your advice and problem solving assistance. If not it is a quick goodbye forever. You are not the welcome wagon on a making friends mission. Your true insurance friends become your clients.
Friday, July 18, 2014
In the unfortunate situation of professional negligence or error, PI Insurance may well save your business. It is important to ensure that you obtain the most suitable form of cover in order to maximise protection. Before you buy, ask yourself the following questions:
Is my profession covered?
For some professions, the purchasing of PI Insurance is mandatory. These include Accountants, Solicitors and the Medical profession, amongst others. A definitive list of named professions can be found online. However, anyone can purchase Professional Indemnity Insurance, and an increasing number of professionals in a range of industries are choosing to do so on a voluntary basis. Even if PI is not essential to your profession, it may be advisable.
How much cover will I need?
This varies dramatically from case to case. When taking out a policy, you need to consider the size of your contract and client, any potential defence costs and the maximum amount of compensation which could be awarded against you. In general terms: the higher the financial stakes, the greater the amount of cover required. You can usually set your own limit of indemnity when taking out a policy, but bear in mind that you will often be required to pay an excess. It is also worth noting that some clients will have a minimum limit of indemnity that they require. Some government departments, for example, require contractors to have at least £5 million of cover.
Am I covered for work that I've done before I take the policy out?
The majority of PI policies work on a claims-made basis. This means that the insurance covers any claims which are made during the policy period, rather than the actual incidents themselves. However, some insurance providers will require you to pay for retroactive cover to ensure that you are protected against any issues with work completed before the instigation of the policy. Some policies will run for a set amount of time, whereas others will continue indefinitely until payment is actively cancelled.
Does it cover me internationally?
Again, this varies according to industry and to the insurance provider. Many insurance providers offer industry-specific policies to ensure the most relevant and tightest level of protection. Policies can be further tailored to the requirements of your individual business, and amended as your needs alter. The function of Professional Indemnity Insurance is to protect you against the worst eventuality. It is therefore vital that you select (and if necessary, create) a policy which extends to the level of cover you require.
How do I pay?
The most common form of payment for PI Insurance is by direct debit. This of course means that the insurance is usually an ongoing business expense, rather than a single lump sum. The benefit of this is that your policy will continue to run until you cancel payment, thus avoiding a situation where your policy has expired without your realising. There are other methods of payment which can again be arranged to suit your individual situation.
There is much scope for flexibility with Professional Indemnity Insurance. By asking yourself these questions, you should begin to develop an idea of the needs of your particular business. The purchasing of this type of insurance could make the difference between professional security and dissolution - it is therefore important that you capitalise on the protection available.
Monday, July 14, 2014
Resorting to a moving company is not the only action you can take. It all depends on the amount of things you have and the distance that separates one property from the other. You may be able to move most of your things by yourself or maybe all with the aid of some friends or family members. But take into consideration the fact that some furniture and appliances are fragile and should better be handled by professionals.
Costs And Alternatives
Hiring a moving company can be expensive. If you have to move especially delicate things like a piano for example, you may even have to hire the services of exclusive moving companies that will charge significantly higher amounts. You can shop around and compare prices but bear in mind that sometimes what is too cheap turns out expensive and the company will be transporting all your belongings which you surely consider valuable in more than one sense.
As explained above, the cost of hiring a moving company will vary according to the amount of things that you need to transport from one property to the other but mainly on the distance that separates both properties. If the type of things you need to move would allow you to transport them yourself provided that you had the transport means, hiring a moving company may not be your only possible solution.
It is also possible to rent a truck or a van where you can (with the aid of friends or relatives) carefully load all your belongings and transport them from your current residence to your new home. Bear in mind though, that you’ll need to fasten and secure everything so nothing gets damaged during the carrying. Using a proper cushion wrapping to reduce the risk of damage is an excellent idea.
Financing: The Simple Solution
Though moving companies can be expensive, you may decide that they are the best choice for you. If that’s the case, the good news is that you can obtain finance to move your belongings. Some moving companies will agree to provide several installments to finance the fees. Even if that’s not the case, you can still resort to other forms of financing in order to obtain the funds to pay the fees altogether.
You have mainly two alternatives: you can pay with credit card and use the ability to finance the balance on your credit card so you can pay as much as possible every month. Or (and this is my preferred solution), take a personal unsecured loan to pay for the whole fees and then repay the loan in the small resulting installments. This last alternative is probably the cheapest one because the interest rates on personal loans are considerably lower than the ones charged by credit card financing.
Sunday, July 13, 2014
There is an oft thought notion that having few expectations leads to less disappointment. But this is not true when one approaches a professional to render a business service. When one professes to have greater than average expertise, the bar of expectation is automatically raised. A professional cannot err. And when they do...the impact can be far reaching. Insurance companies in various countries have tried to create professional insurance policies to create a protective buffer for professionals, to avoid careers, livelihood and lives being disrupted by negligence suits. In fact even insurance professionals today try to protect themselves under the purview of professional insurance seeking coverage for acts of omission committed by the insurance agent in the event of a liability suit or any kind of property damage to the client. This is itself is a pointer as to how professional insurance is now regarded as an important component, even those safeguarding are now getting coverage for themselves. In fact in some professions like Law, Accounting and Financial Services it is legally required and often forms a part of the contractual obligations.
The consumer across the globe has become very aware of his legal rights and his right to move court if he feels he has due cause. Any damage to person, property or financial standing as a result of professional advice can thus have disastrous outcomes for the professional. There are legal fees, court costs, defense costs and the irony is that in an increasingly litigious world, some of the suits filed are without foundation. Yet reputations need to emerge unscathed and professionals need to continue earning. Management, Computer Consultancy, Publishing, Engineering, and Architectural Design, Nursing...any profession that requires a dispensing of professional advice needs professional insurance. Insurance companies are in constant competition to provide the best possible coverage, trying to give the maximum possible mileage from the premium paid. There is a underlying realization that is now well entrenched in the mind of both the insurer and the agent, that a professional insurance policy is critical to peace of mind and smooth running of business that there is always an attempt to customize a policy that is both effective as well as affordable. Loss of documents, charges of willful negligence, business losses due to incorrect figures and erroneous projections, omission, wrong professional advice...the charges can be anything and a professional by virtue of his standing is always vulnerable. In fact some
Insurance firms even provide an add on like run off cover to add value to the coverage. This means that even after the professional retires or ceases a business, the coverage continues for a stipulated period to protect against claims that have been made for work done previously.
When choosing professional insurance coverage, there are so many terms that need to be understood, so many choices to be made, so many parameters to be delineated that one needs plenty of guidance before signing on the dotted line of the insurance contract and paying the first premium cheque. One needs access to an insurance company that has accumulated years of experience and expertise. A top notch quality service is very important.
Tuesday, July 8, 2014
Are you a professional who plans on putting up a business so you can practice your profession at your own time and comfort? Just like any other business-minded individuals, professionals can have a business of their own as well. Real estate brokers, doctors, accountants, lawyers, home inspectors, architects, or surveyors are some of the professions with good business potentials. If you plan to have one, then you need to get professional business insurance for your business.
Professional indemnity insurance, also called professional liability insurance or errors and omissions insurance, is a type of general liability insurance that protects professional practitioners from possible negligence claims raised by their clients or patients. Although such insurance takes various names depending on the type of profession, the coverage generally focuses on claims regarding property damages, personal injuries, negligence, or bodily injuries. Generally, there are two types of this insurance: the Claims Made Professional Liability Insurance and the Occurrence Professional Liability Insurance.
To find the right professional business insurance, determine first if you want to end your policy once your coverage expires. If you do, purchase the Claims Made Professional Liability Insurance Claims. Also called the Reported Coverage Policy, this type of insurance protects you within the date of the policy purchase until claims made sixty days after expiry.
If you have a business whose clientele have longer statutes of limitations to report claims, the Occurrence Professional Liability is ideal. This insurance protects you even after the policy ends as long as the occurrence of the incident happened within the active policy period.
When looking for the right insurance provider, go for trusted insurance companies who have notable backgrounds. Never hesitate to ask regarding deductibles or exclusions of the policy. It helps that you do your research first because not all insurance companies cover everything. Also, you may want to include legal defense costs in your policy which you can use for legal fees, just in case the need arises.
Have the right professional business insurance for your business ventures. That way, you won't have to worry about getting into major issues with your business.
Saturday, July 5, 2014
Professional indemnity insurance sounds highbrow doesn't it? What does it mean and how important is this type of insurance? The basic purpose of this insurance is to insure those who give professional advice in any sort of professional work. For instance a stockbroker or a doctor are both at risk of being sued for wrong or faulty advice and so that's where Professional indemnity insurance comes into play. It covers the risk!
For instance a stockbroker who advised his client to sell stock could face being sued for losses by his client on the basis that the stockbroker had sold his services as an expert and had proven to be incompetent. Equally the family could sue a medical doctor who radically misdiagnoses a patient's disease and this lead to the patient's death. This can be stretched out to include a tax agent or an architect or a psychologist all of who are in the advice business and this advice when acted on should be safe advice from money investments to health to public safety.
So if you are in the business of advising make sure you are covered by Professional indemnity insurance because you can be bankrupted if you are on your own. The other side of the coin is for the person who makes claims who if creating a court action for a claim and it proves to be unfounded could be directed by the court to pay all costs. So from both ends of the world of professional advice it's wise to do your homework.
If you are in the process of getting Professional indemnity insurance then get ready for a big cost because it is the highest costing of all insurances because claims can go into millions of dollars. However regardless of cost you can't do without it, as nothing is watertight predictable and the best of professionals can end up facing a court process.
The only other option is to get out of the business, which has happened - take the example of some in gynecology who deliver the child badly damaged and millions are claimed for lifetime support - many gynecologists have been scared out of that specialty and have returned to general practice.
So while Professional indemnity insurance is hard to understand and it has a time delay in getting the necessary approvals its not just necessary but essential and the practitioner who works while the time delay of getting the insurance is a fool and the person who thinks they will never be charged with ill advice is equally foolish. The Boy Scout's motto "be prepared" was never more relevant.