Is Your Company Built For The Long Run?
Is Your Company Built For The Long Run?
If you have recently started or are considering beginning a business, experts will suggest you set a strong foundation and build your company for the long run. Sure, there will be challenges, sacrifices and compromises, but the goal is not just to start a business, it is to build and develop it. Here are some factors to consider when building your business for the long run.
Have Goals
You obviously want to set goals and have benchmarks in your business plan. Income, customer acquisition and margins are all areas ripe for goal setting. Of course, a critical part of this is tracking your progress. Include personal bests as you achieve them.
Know Your Long Term Outcome
Your goal should be more long-term and more defined than just โmaking a good living.โ Do you want to build a company to hand down to children? Sell for retirement? Maintain to produce jobs? Would you like to franchise? Having a clearer vision of the long-term future can help you better achieve it.
Build Your Brand
Every day you should focus on building your brand. This accumulates value in your name and in your organization. This is why professional marketing advice can be so advantageous early on.
Commit to Keeping Up with Knowledge and Technology
Building a business for the long run includes a level of commitment to keeping up with the latest advancements, trends and technology. Many companies started out running into the lead only to fall behind in their knowledge or use of technology. Keeping up is so much easier than trying to catch up.
Protect What You Are Building
We can be so consumed by selling, keeping up with competitors and day-to-day aspects of our business we may not pay the necessary attention toย protecting it. Every business is subject to liability claims and protecting your increasing assets is critical. Get started with a basic, affordable business insurance plan and keep it updated as your business grows.
It may be hard to find the room in your budget for a business insurance plan when starting, but it is vital if you are building your business for the long-term. Contact one of our independent business insurance experts to discuss your business, your goals and how we can help minimize your risks. Contact us today and let us partner in your protection.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Blogs
Road Trip Through History: The Unexpected Story of the Interstate Highway System
From nuclear war to family road trips, the Interstate Highway System’s history is more surprising than you think
Independent Spirit, Independent Insurance: Why Your Business Needs an Independent Agent
Ditch the Captive Agent! Why Independent Insurance Agents are Your Business’s Best Superhero
Beyond the Funeral: 9 Reasons Why You Need More Life Insurance Than You Think
Life Insurance: Not Just for Buryin’! Unexpected Costs You Never Knew Were Covered
New Car, New Coverage? Navigating the Wild World of Auto Insurance
New Car? Don’t Get Stuck on the Side of the Road with Bad Insurance!
Renters Insurance: Your Secret Weapon Against Disaster (and Burglars!)
Beyond Broken Leases: Why Renters Insurance is Your Best Friend (and How to Get a Great Deal)
Flappers, Flights & Fizzy Fridays: The Roaring Twenties You Never Knew
Dive into the 1920s beyond the speakeasies! Explore the decade’s social shifts, technological marvels, and surprising connections to modern times.
Bundle Up and Save! The Ins and Outs of Business Insurance
Unsure about business insurance? Don’t be! Learn how bundling different coverages protects your company and puts money back in your pocket.
Life Insurance Myths Busted: Unveiling the Simple Truths Behind Financial Security
Considering life insurance but confused by the myths? We clear the air on common misconceptions and show you how to get simple, affordable coverage.
Buckle Up for Savings: How Car Safety Ratings Save You Money
Crash Test Your Cash Flow: How Car Safety Ratings Impact Insurance Rates
Pool Paradise or Premium Pain? The Splashing Truth About Pool Insurance
Dive into Savings: How Pools Affect Homeowners Insurance (and How to Stay Afloat)