Business Questions and Answers that Affect Your Family's Finances

Lessons Everyone Can Learn From #AskGaryVee by Gary Vaynerchuk

If you followed me for any link the time you know that I’m a huge Gary Vaynerchuk fan. I followed him from the time that he wrote his first book, “Crush It” and his keynote speech from the Web 2.0 Conference.

While Gary Vaynerchuk is an incredible entrepreneur, I think there are a lot of great lessons that we can all learn from him even if you don’t have that entrepreneur mindset. His books and keynote addresses are fascinating. His podcast and YouTube videos are inspiring whether you’re in entrepreneur or not.

The “#AskGaryVee” book is the fourth book from Gary Vaynerchuk. He also wrote a wine book before the last four, which are all social media, marketing, and entrepreneurship based. AskGaryVee is an outcrop from his popular YouTube show and podcast where members of his audience and fan base ask questions about social media, marketing, entrepreneurship, and life that he answers on the show.

The #AskGaryVee book is the direct culmination of the show and his YouTube channel. It pulls together some of the best and most thought-provoking answers and his philosophy that Gary answers for his audience on the show.

But, the book is more than just a compilation of the show. It’s chock-full of amazing insight into the world of social media, marketing, entrepreneurship, and a host of other topics.

Whether you’re a blogger, a YouTube sensation, a podcaster, an entrepreneur, or even a stay at home mom, you’ll find an incredible amount of interesting commentary on our daily lives and how social media, marketing, and life inter-plays with them in this book.

I thought that it would be fun to look at some great take aways that I personally got from Gary’s new book. Here are three of my favorites.

Employers Liability Insurance – Why Do You Need It?

by Guest Contributor

It’s a legal requirement for employers in England, Scotland and Wales (including those who run off-shore installations) to have insurance in place against liability for injury or disease to their employees as a result of their employment. This is known as employers liability insurance.

Employers have a legal responsibility for the health and safety of employees who work for them. The definition of ‘working for an employer’ depends on the nature of the employer/employee relationship, including the degree and nature of control that an employer has over work.

For example, if tax and national insurance are deducted by the employer from an employee’s earnings, or if the employer provides the tools and work equipment for the employee, this means they’re included in the cover.

Independent contractors who work for different companies aren’t covered by the employer’s liability insurance of those companies.

A Brief Overview of Chapter 11 Reorganization Bankruptcy

by Hank Coleman

Bankruptcy is an ever present specter for businesses large and small, and though it can happen unexpectedly or over a long, drawn out process where the business just can’t manage its debts, it’s not the end of the world. A business has the option to file for Chapter 11 reorganization bankruptcy.

Naturally, if it’s your business that you have started and grown from small through medium to large, it can be quite a blow when you find that there are problems with the business’ finances. When you reach the stage where you have financial difficulties that you can’t sort out yourself, then you need to look at options for moving forward as soon as you can.

As a business, therefore, you have the option to file for Chapter 11 bankruptcy, but you need to know what is involved and the implications of doing so. You can also file for Chapter 11 as an individual sole trader or as a partnership if the circumstances permit.

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An Overview of Chapter 11 Reorganization

How to Start

A Chapter 11 bankruptcy case starts when a petition is filed in the bankruptcy court and is usually voluntary. As the debtor, you will generally take the initiative for the filing.

Though a group of your creditors can get together and file what is known as an involuntary Chapter 11 petition. This would be against a defaulting debtor.

Benefits Offered by Crowdfunding

by Guest Contributor

While funding is considered the primary goal of a crowdfunding campaign, it is also a great way to increase your visibility and grow your overall customer base. These are just a few of the many benefits of crowdfunding.

Some other reasons that many people actively participate in crowdsourcing campaigns is to gain:

Marketing exposure
Press coverage
Social proof
Traction in the market niche
Potential interest from investors

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Learn More About the Benefits of Crowdfunding

Traction

When creating a crowdsourcing campaign, you may also be able to successfully generate traction for the startup. This will be demonstrated with large numbers of backers, pre-orders for the product or even services that the startup offers.

It can even help to garner media attention and interest. Generating more traction is a crucial step in proving success and preparing for creating a pitch to present to investors.

Social Proof

When you have gained interest from possible clients in the service or product being offered by the startup, you have gained social proof. This is showing that other people believe in what you are actually doing. Another way that you can generate social proof is to advisers who are prominent in their particular field.

How to Choose the Right Insurance for Your Business

by Hank Coleman

Most business insurance policies are taken out voluntarily by businesses across many sectors for good reason. A whole host of accidents can be caused by your business where costly accident claims could ensue. There are different types of business insurance policies to suit various industries and the premium all depends on the type of business you have, the number of employees in your business, and what your turnover is. The benefits of taking out business insurance policies• They cover the legal costs and expenses involved in defending claims made against your business.• You can show your clients that your business is insured against loss or damage caused to them by your business.• It gives you peace of mind that you … Read more

Do You Process Invoices Efficiently?

by Guest Contributor

As your business grows, so do the number of tasks you need to perform. To maintain your profit level as you grow, you need to operate efficiently. If not, the additional revenue you generate will all be spent on administrative costs. Consider these tips to process invoices efficiently. An Operations Manual Many aspects of your business are complex. This article explains some critical tax reporting processes. Working with taxes and payroll can be difficult. Your entire accounting function may be easier if you create a procedures manual. As explained here, businesses should document procedures for tasks that are routine. Documenting what needs to be done creates predictability in your business. Both the manager and the employee will understand what needs … Read more