Have you asked your commercial insurance broker this important question?
Today, we’re going to discuss a concept, an idea, which can have a significant impact on your business, and isn’t covered in a policy, but does include your licensed insurance professional. It’s not a rider or any type of coverage or has any premium associated with it. Instead, it’s about how to maximize the support you receive from your broker.
Having a board of directors is often reserved for those Fortune 1000 companies. A board of directors is a group of business professionals brought together and is paid to advise the senior management of a company in determining policy and direction of that company.
Most small businesses cannot afford to pay for the advice and counsel of a board of directors. Yet, often, this is when a business owner needs some outside eyes and input the most. It is possible to build an advisory team dedicated to helping you with your business.
Everyone talks of customer service and going the extra step to provide more value to their clients and customers. Use this to your advantage and create an advisory board, a board of directors if you will, for your business. There are a number of professionals, including your commercial insurance agent who should be willing to help you grow.
Your CPA, Attorney, and Commercial Insurance Agent provide the nucleus of the advisory team. Your banker, financial advisor, and perhaps a key vendor or two rounds out this board. It’s your business, you determine the when the group meets, the agenda, and what you wish to accomplish with your team of advisors.
Your commercial insurance broker will be a key component of your new advisory team. Have him or her help you put the team together. If no one else will to do it, perhaps its time to interview the replacement vendors who will help you and offer that level of service.