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Community Call #8: What Is Onboarding?

April 30, 2012 by thriveal | 1 comment

“Do you run a small business? Do you have a pulse? If you answered yes to either of these, you may be the perfect client for us! We don’t even know your name, but we can definitely do whatever it is that you want us to do.”

While you may not have stooped to this level, most entrepreneurs are delighted to bring in new clients. It’s an exciting process because it means the business is growing and stands to make more money. The problem with this perspective (and we all intuitively know this) is that jumping into a relationship too fast can ruin its potential from the start.


What is Onboarding?
     “Creating an initial entry customer experience that sets you apart from other loser firms.”  Jason Blumer

 

If you were to search “onboarding” you’d see that most people use the term to talk about how a business plans to bring new hirees up to date with their internal processes. Here in THRIVEal, we’re applying that idea to bringing on new clients or customers. Typically these two types of onboarding look very different, but maybe we should examine those differences and innovate.
Jason’s 3 step process:

-note: I’ll list the client step and then the hiree equivalent (in parenthesis)

  1. Vetting the client (Interview)
    • Initial contact is made. It’s time to negotiate pricing and discover if the relationship will truly benefit both parties.
    • The owner or “closer” must conduct this step.
  2. Welcome to the family! (You’re hired!)
    • This is where enthusiasm and character should shine through.
    • Information is obtained but becoming a cold technician must be avoided.
    • A designated “Onboarder” is preferable for this role.
  3. Get to work (Get to work)
    • Work. Self explanatory.
    • The point of listing this is to note that the prior steps should minimize re-asking initial information.

Don’t reinvent the wheel
There are people already doing this! Meet Meilnda Guillemette, the onboarder for Blumer & Associates, CPAs. In a recent THRIVEal Community Call she shared one of the keys to implementing this process: we must avoid slipping into the role of a technician. As CPAs, most THRIVEal members THRIVE on counting beans and pushing calculator buttons (sorry to out you guys). More generally, entrepreneurs are predisposed to becoming technicians (source: Gerber, E-Myth). If we can resist these urges and focus on developing relationships with new clients, they will get a taste of what our firm is all about. Melinda called this “telling your firm’s story.” It has the power to become a significant differentiator for any business.

 

Jason also had some valuable insight on the call. He outlined something called the “Blumer Sucks Process.” It’s the way he formerly brought in new work and you may recognize it as the current process in your firm. It essentially skips past step 2 and jumps quickly into the 3rd “work” step. Once this happens the ball can start rolling very fast, causing a higher chance for data to be forgotten or lost. Jason suggests slowing down between step 1 and step 2 allowing for a more deliberate review of the coming situation. This will not only allow for better data collection, it can facilitate a new environment where trust is developed more naturally by both parties.

 

At Blackwell, CPA we’ve been brainstorming ideas like gathering clients for onboarding retreats or creating a gift bundle with books. Leave a comment for a discussion on further ways to push the idea further.

 

After graduating from Auburn University in 2009, John Blackwell returned to his hometown of Orlando, Florida to join his father Terry at Blackwell CPA. Terry founded the firm in 1986 and with the help of John, the father son team is focused on serving customers in innovative ways. John is also a member of the THRIVEal CPA Network.

CPA Exam Strategy Innovation

April 5, 2012 by thriveal | 2 comments

Greg was born in Akron, Ohio, in the shadow of the Firestone tire factory. He began to swim competitively when he was eight, swimming for the Mountlake Terrace Lemmings. He graduated in 1995 from the University of Washington with a math degree. He chose math for the ladies.  After serving ten-years as an 8th grade math teacher, he decided it was time for a career change, mainly because he “couldn’t stand those little bastards.” He began his accounting career with a local CPA firm in Orem, Utah, where he consistently failed the QuickBooks ProAdvisor advanced certification exam.  Greg currently works as the Controller for the Utah Valley Physicians Plaza. He lives in Provo, Utah, with his wife and two kids. He enjoys eating maple bars, drinking Diet Pepsi, and swearing.

 

Seventeen seconds left in AUD. The last sentence of the second written communication task—the wording made sense, but it felt awkward. No time to think. Only time to react.

Back it up two hours…

I had to pee. I didn’t have to pee too bad, but it didn’t matter because when you’re taking the CPA exam, if you kind of have to pee, you can’t think about anything except the fact that you kind of have to pee.  Makes it harder to recall a member’s requirements under SSARS to various stakeholders when reviewed financial statements are restated. I made the call. I took a potty break, but the clock stops for no bladder. The awkwardly situated testing center in the University of Utah student union building was directly adjacent to the women’s room. The men’s room was at the other end of a quarter-mile long hallway. (You’re right. I’m sure it was materially less than a quarter mile. Can you turn off the accountant brain for a minute?) I was pissed. (It’s a pun. You’re welcome.) I had too much pride to run; speed walking seemed like the more dignified choice. No paper towels, only an air dryer that was as effective as an asthmatic trying to whisper your hands dry. And despite the two wet hand prints on my butt, my mental faculties were back. But two hours later, I would desperately miss the four-and-a-half minutes I spent “billing my time” (not a widely accepted euphemism—yet).

Back it up to my sophomore year in high school. I had a job (doing the books for my mom’s drug store) and a car (a ’79 Chevy S-10 short bed three-on-the-tree pickup), and I was an emerging Diet Coke addict. Now, firmly within the talons of this disgusting habit, I’m drinking upwards of three Super Big Gulps per day. Fighting my dependency has proved futile. From time to time, I would work my way down to Caffeine Free Diet Coke, but the serenity prayer is no match for the brown bubbly (another euphemism not widely accepted—ever). Without my performance-enhancing beverage, I had no chance of keeping up with my demanding study regimen, let alone the test itself. In addition, I wanted to stay far away from the debilitating caffeine withdrawal headaches. If I had to choose between a caffeine withdrawal headache and passing a kidney stone, I’d choose FAR. I had no choice but to “juice up” right before each section of the exam, and 52 ounces of Diet Coke isn’t going to stay put for three-and-a-half hours.

Jump back to the final seconds of AUD. I changed the last sentence, my final keystroke barely beating the timer. I left the testing center crushed, confident that I failed. But somehow I passed (which cemented the idea in my mind that the CPA Exam is designed to strip prospective CPAs of their self-confidence. The profession demands high integrity and low self-esteem). The experience was horrible, and I never wanted to repeat it.

While recounting my story of near failure and pee pee to a coworker, she joked, “You probably wished you had some Depend® Undergarments.” Hells, yes! Why didn’t I think of that during BEC?!?

My last section was REG, and I went in saddled up on my Target-brand Depend® knockoffs. I felt more confident than a former astronaut driving cross-country to kidnap her rival in a love triangle. I probably could have made it through REG with no potty breaks, but you don’t pull a gun unless you intend on firing it, and you don’t go to REG in adult diapers unless you intend on using them. It’s harder to pee your pants than you probably remember.

John Emmerling said, “Innovation is creativity with a job to do,” or in this case, it’s creativity that I did my business in.

 

For THRIVEal members, the video recounting this delicious tale can be found in the private online Yammer community used by THRIVEal.  There you will also find a picture of Greg in a diaper.  Are you a member?

The Profession Says It Wants Leaders. I Call BS.

March 5, 2012 by Greg Kyte | 10 comments

Every year, we see articles and surveys that indicate the need for CPA firms to attract and retain top talent—articles and surveys that express managing partners’ concern that there are not enough skilled potential employees in the labor pool. And one thing that firms say they are looking for is leadership skills. BS.

I will be the first to say that the accounting profession desperately needs leaders. My son, Grady, has BO. He’s seven. Twelve hours after a bath, he smells like a wrestling mat. He desperately needs something that’s strong enough for a [homeless] man, but made for a seven-year-old. But he’s afraid of my Speed Stick by Mennon. (You sang the “by Mennon” part in your head. I know. Me too.) He’s even more afraid of my Axe deodorant body spray. Arguably, my wife should be afraid of him using any Axe product because—according to commercials—it will turn Mrs. Taylor, his first grade teacher, into a skank. But Grady is afraid of where deodorant might take him. He’s afraid of change and afraid of the unknown.

CPA firms have a similar problem. CPA firms need leaders, but they don’t really want leaders. They say they want leaders, but they’re afraid of where real leaders might take them. And I’m going to say this is true for all CPA firms, not because it’s true but because it’s inflammatory.

What CPA firms really want is not leaders but exemplary followers. An exemplary follower is someone to whom partners can point and tell others, “Why can’t you be more like Holly?” And then Holly is hailed as a “leader” not because she has led anyone anywhere, but because she hes perfected following. Brilliant. An exemplary follower is someone who leads only by example. An exemplary follower tells other followers how to follow better. An exemplary follower internalizes the message and vision of the actual leaders and will cough it back up to those further down the organizational chart.

What is the big difference between a leader and an exemplary follower? Leaders take risks. Exemplary followers have a Skinnerian desire to make their leaders happy (Look it up, intern). They know how to get a Scooby Snack. Leaders have vision and passion. They want to change the world. They want to try new things and go new places. Fred A. Manske said, “The ultimate leader is one who is willing to develop people to the point that they surpass him or her in knowledge and ability.” No one knows who Fred A. Manske is. It’s not important. Wussies are afraid of hiring leaders because if they get a good one, they might get surpassed. Actually, they’re not afraid of hiring them; they’re afraid of leaders emerging once they are in the firm, and they will whack the moles of leadership until they forge the leader into an exemplary follower.

So what are you? Are you really a leader? If so, the profession desperately needs you. Or are you really just an exemplary follower? If so, employers really want you, but you will only help bring the profession to a better place if you align yourself with a visionary leader.

 

Greg was born in Akron, Ohio, in the shadow of the Firestone tire factory. He began to swim competitively when he was eight, swimming for the Mountlake Terrace Lemmings. He graduated in 1995 from the University of Washington with a math degree. He chose math for the ladies.  After serving ten-years as an 8th grade math teacher, he decided it was time for a career change, mainly because he “couldn’t stand those little bastards.” He began his accounting career with a local CPA firm in Orem, Utah, where he consistently failed the QuickBooks ProAdvisor advanced certification exam.  Greg currently works as the Controller for the Utah Valley Physicians Plaza. He lives in Provo, Utah, with his wife and two kids. He enjoys eating maple bars, drinking Diet Pepsi, and swearing.

Community Call #4 – Knowledge Sharing: Is Keeping It All To Yourself Beneficial?

August 31, 2011 by thriveal | No comments

Wow! What a great call!

In my opinion, the topic of knowledge sharing is undiscovered in the accounting industry. In the world of financial advisors and bankers, knowledge sharing is used as part of the culture. Why are we still all “grey suits” in this area? How effective is our cloud without knowledge sharing?

What is it? What does knowledge sharing mean? Simply put – it’s a tool to share information regarding the relationship with each client.

Examples:

  • Client workflow and notes
  • Client contact information and preferences
  • Client issues and resolutions

How much of this information do you keep between your ears? Is this really benefiting you? Some of our callers focused on a few truly eye-opening reasons why knowledge sharing is important:

  • Some of us worry that sharing knowledge might train our employees to become our competition. Is the alternate reality of this not worse? Retaining employees with whom you haven’t shared knowledge that are serving your clients regularly?
  • Two words – business succession. How useful and attractive would it be to a potential buyer of your firm to have a complete database of customer information?
  • We owe it to our clients.

Customer relationship management software is the most used tool for knowledge sharing. Proprietary software is another option. Do you share knowledge? How?

 

 

Jennifer Pierce Cook oversees outsourcing the controllership needs for her small business clients.  Jennifer also oversees the individual and trust filings in her firm.  Jennifer obtained her CPA license in September 2007.  She obtained both her Master’s and Bachelor’s degrees in business with an emphasis in accounting from Middle Tennessee State University.  She is an active member of the AICPA and the THRIVEal +CPA Network.  Jennifer has been with Hardee Accounting for nearly seven years.  Also a managing partner, Jennifer is dedicated to helping clients grow sustainably.  Find Jennifer on Facebook here or follow her on twitter at @ahsumcpa .

Community Call #3

July 20, 2011 by thriveal | 3 comments

Holy Moley what a call!  The latest Thriveal community call took place Tuesday, June 28th, and the topic was client selection.  An amazing group of professionals shared their experience on a topic that I struggle with.Client selection to me has not meant much in the past.  Based on my experience, I have drawn a line in the sand on who I will and will not work with.  The “will not work with” list was developed based on some pretty crappy endings to client relationships.  More specifically, they did not pay.  Here are three points to consider when selecting a new client.

  1. Due Diligence – How well do you know you clients?  Would you believe me if I told you there are CPA firms out there preforming a 30-day due diligence period before they bring on the potential client.  Picture the call now, “Yes Mr. Smith, please drop off our records request and we will contact you in 30 days to let you know if you are a good fit for our firm.”  While this practice may drive away most callers or even referrals, it sure would perk my interest to see what that firm has to offer.
  2. Education – Would your clients be willing to sit down for 6 hours, with you, to discuss expectations, goals, successes, challenges, of their organization?  This practice is starting to pop up in CPA firms as we move away from fire-fighting and into the role of a trusted business advisor.  A willingness to be educated was mentioned by most the speakers on the call as a key indicator for selecting a new client.
  3. Relationship Goals – A result of number 1 and 2 above should net goals between you and the client.  These goals are mutually agreed upon and they serve as a benchmark to see if both parties are living up to what they agreed on.  If the client falls behind on their obligation, “caller-id cringe” may appear.  Caller-ID cringe is where no one in the firm want to take the call once they identify who it is.  It may be too late at this point to try and save the relationship, but as a good friend of mine once said, “bad clients drive out good clients.”
The call for me was bitter-sweet, it shed some light on one idea that I have been trying to put to rest for many months now……Money will/can not create a relationship between me and my clients. My biggest take-away was a light-bulb moment I had the day after the call.  Not once during the call did I hear someone share “Yea, I price my self out of the engagement” or “If we don’t think it is a good fit, we charge them like, 10000000 dollars and see if they bite.”
Its not about the money anymore folks! 
We no longer use money as a shield to deal with unruly, uncooperative clients.  Sure we all like to be paid for our knowledge and value we add to a clients situation, but not at the expense of losing a team member, or even worse; a good client.
After early retirement from an unsuccessful acting career, Chris decided to become an accountant.  Growing up in a family of accountants, accounting was the center of the universe and where all business emerged from. Chris graduated from the University of Florida with a BS in Business Finance, and received his MBA from the University of North Florida. He loves his wife Razan, and son Rami.  His hobbies include: swimming, running, cycling and weekend bbqs.  Lets laugh together.

Community Call #2

April 28, 2011 by thriveal | No comments

Back in February a really cool South Carolinian by the name of Jason Blumer shifted the focus of his personal blog from himself to create a community for new-age CPA’s.  The THRIVEal +CPA Network is what he calls it.  THRIVEal you ask?  What the heck is a THRIVEal? See for yourself

 

I describe it as group of like-minded professional, not afraid to challenge the status quo.  The processes and metrics of the traditional CPA firm are stale and unsustainable; we have popped up on the scene to say, watch out #CHANGEISCOMING!  While these process and metrics have withstood the test of time so far, technology, collaboration and creativity are a few of the attributes we are preaching.  Frankly, I am stoked and honored to have joined the coolest group to hit the CPA arena.

 

The THRIVEal +CPA Network hosts six “community calls” throughout the year. During these calls, members get together (online of course) to discuss the forefront topics of  our profession.  Yesterday was the second call and the topic we discussed was Value Billing.  It won’t take you long browsing my attractive blog to figure out I am a bit of a Value Billing fan.  I trashed my timesheet on 01/01/2010 and was happy to discover that life goes on without the dreaded timesheet.  I could go on and on about how the change saved my career, made my customers happy, and made me more profitable, but I will refrain from repeating what has already been posted, so please check it out.  Instead I am going to focus on what I learned from the call.

 

We began by talking about efficiency vs effectiveness.  For the longest time, I was obsessed with being “efficient.”  How can I run payroll, from start to end, with 6 clicks of the mouse, I would ask myself.  Funny thing is, I would get worked up if it took me 7, 8, or 9 clicks to complete.  The point here is, who cares how many clicks it takes to run the damn payroll???  After absorbing the idea that effectiveness trumps efficiency, it was clear to me that the purpose of running payroll was to pay employees, submit the taxes, and DO IT CORRECTLY.  If I executed the payroll in 2 flippin clicks but forgot to pay someone…#missionfail.  As a young CPA, it is easy to get caught up in the technology and forget you are responsible that someone gets dinner on the table this weekend.

 

Another topic we discussed was business practices that add value to your customers.  A member shared that customer education was mandatory for his firm accepting that new customer.  I like the idea of education, when I am educated I feel a “part of” something and not just a “part.” Anyways, who wants to stop learning? not me.  I embrace learning from customers.  At the end of the day we both have something to contribute to what we are working on.  Just the other day I was having a multi state conversation with a customer and I was explaining states are starting to crack down on nexus issues by communicating to each other.  The customer shared with me how the NYC is suing a number of the travel sites for shorting them on sales tax.  My point here is I embrace learning from all sources, its cool.

 

Wrapping it up, I felt some lightbulbs go off during the call and I am sure others felt that way too.  If I had to age myself for where I am with Value Billing, I would estimate 1.5 years old.  Just a baby, but growing everyday.
After early retirement from an unsuccessful acting career, Chris decided to become an accountant.  Growing up in a family of accountants, accounting was the center of the universe and where all business emerged from. Chris graduated from the University of Florida with a BS in Business Finance, and received his MBA from the University of North Florida. He loves his wife Razan, and son Rami.  His hobbies include: swimming, running, cycling and weekend bbqs.  Lets laugh together.

We Are Family…

March 5, 2011 by thriveal | No comments

Social Media has opened up the door for so many of us to connect with each other across the country and across the globe.  Communication is instantaneous.  Our network is unbelievable.   If any one of us needs something, there is a group of connected personalities that will answer in moments.

This connect-the-dots picture formed gradually and continues to grow with buzz about industry topics, hobbies, music, family, sports, and various interests.  Social media paves the way for sharing bits and pieces about what is important to us.  When those important things become threatened, a band of soldiers immediately respond to the call.  We come to know one another and develop a care for each individual person and what they hold dear to their heart.   Any one of us would band together to defend a brand, a cause or an issue.

Borders?  What are borders?  We have none.

We are a caring group that when someone we have come to love is in need, we come together to see how we can help.  Immediately following the Earthquake in New Zealand, tweets went out to our friends and family across the globe to see what we could do and how we could help.  Prayers, thoughts and efforts to organize financial relief filled the airwaves.  As soon as we hit the social channels with our friends needing help, immediately people responded with “Count Me In.”  “How Can I Help?”   We shared stories of recovery, bravery, sadness, survivorship and instances of back up plans and help.

We are so blessed to belong to such a wonderful family.

Still looking to help our friends in New Zealand?

Give a little http://www.givealittle.co.nz/default.aspx

New Zealand Red Cross http://www.redcross.org.nz/cms_display.php

Kara R. Haas, CPA, CFE, CITP, ARA offers a solid mix of accounting knowledge and technology to assist businesses in reaching their goals.  Kara worked in manufacturing and family business for several years developing a passion for accounting.  She obtained a Master of Science in Accounting from Marquette University.  She later earned the Certified Fraud Examiner designation and most recently the Certified Information Technology Professional designation.   Kara is a member of both the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants.  She has spent several years working with Intuit products, particularly Enterprise, QuickBooks Point of Sale and third party integrated applications.   She continues to support these applications offering assistance to clients and other accountants.  Additionally, her interest in accounting software, technology and assisting Independent Retailers continues to flourish and has opened additional software offerings/support including programs that work on any platform: Windows or Mac OS.

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Guest Post: HSAs, Auto Insurance, and Uncle Sam

April 21, 2010 by thriveal | 3 comments

A few months ago I went to get an oil change and wound up hanging out all morning while they did other things to my car – truth is I know as much about nuclear warheads as I do about the inner workings of my car, but it was the kind of stuff that gets old and has to be replaced when you hit 80,000 miles or so. It cost me around $500 and, get this, my auto insurance didn’t pay a dime! Are you stunned? Of course not. My auto insurance, like yours, is there in case I have a wreck. What if I could sell you an auto insurance plan that would allow you to pay a $35 “copay” every time you had to get some work done on the car, and maybe gave you a couple oil changes for free each year? What do you suppose that would cost?

Here’s the deal – your auto insurance is a lot less than it would be if it paid for all of your routine maintenance. And guess what? Health insurance is the same way. Imagine a health insurance plan that gave you “collision coverage” by putting a cap on your expenses at a pre-determined deductible each year (for our example, let’s call it $5,000). Rather than paying for oil changes and new tires, it simply gives you the peace of mind of knowing that whatever happens, you’ll never pay more than $5k for your family’s medical needs each year. Do you think your premiums would look different?

The idea behind health savings accounts is pretty simple. Everyone needs protection against the big-boy expenses that come with American healthcare, but most people are paying WAY too much in premiums because they are paying for services they don’t really use that much. The HSA concept is that you lower your premiums by getting catastrophic health insurance coverage and take care of the front-end stuff on your own (though that front-end stuff typically counts towards your deductible). You then take some or all of the money you save on your premiums and put it into a tax-advantaged health savings account (HSA). Let’s outline a few key concepts on the HSA itself that will help get some common misconceptions out of the way:

·         The money has a triple tax advantage: It is not taxed going in, it grows tax free, and it is not taxed when you use it for qualified medical expenses. And the IRS definition of “qualified medical expenses” is actually broader than your insurance policy’s definition. Without confusing the issue, suffice to say you can use HSA funds to pay for things that may not be covered by your insurance policy, like dental or chiropractic care.

·         You cannot use it to buy an iPad without paying the income taxes plus a significant penalty.

·         Your HSA is yours, it does not belong to the insurance company.

·         Your HSA funds roll over year to year – this is not a use-it-or-lose-it deal.

The goal is to get to the point where you have 100% of the funds needed to cover your deductible in your health savings account. Then you’re totally good to go. You know, it’s kind of like putting some money away each month for new tires, routine maintenance, and the other inevitable expenses that come with your car so you’re not freaked out when it’s time to pay for your 80,000 miles checkup… but doing so with tax free money.

To be eligible to open and contribute to an HSA, you have to have a qualified health insurance plan, meaning one that meets certain criteria. (That’s where I come in!) The deductible must be high (but not too high) and the plan cannot offer “first dollar benefits” (think copay and drug card) before the deductible, with the exception of preventive care.

In short you lower your health insurance premiums, lower your taxes, and put a cap on your total risk exposure each year. If you can overcome “Copay Anxiety,” the HSA probably makes a lot of sense for you.

Alex serves as vice president of AC Forrest Insurance Group, an independent insurance agency specializing in innovative health insurance solutions for small businesses and families. The father of three small kids, he’s also a human jungle gym and cooks a mean quesadilla. To talk with Alex about your insurance situation, learn more about AC Forrest, or to experience more stimulating insurance blogging, visit www.acforrest.com.

Guest Post: Kick Your Copay Habit (and other ways to lower your health insurance premiums)

March 24, 2010 by thriveal | 5 comments

Look, let’s get this out of the way now. Health insurance does not provide the most gripping reading material, but it is one of those things that you have to deal with. Whatever your take on the ongoing debate in Washington, we have to work within the system we have now, and the problem with that system is that it is REALLY expensive. With rising costs and a down economy, most small business owners are looking for ways to take care of their team without killing their budget. Maybe you’re one of them. Let me offer a few suggestions. Not all of these will work in every situation, but perhaps a couple of them will help you.

  1. Raise your deductible. More than two out of three people don’t hit $1,000 per year towards their deductible. In other words, most people are over-insured. Of course, one out of one people will at some point reach their deductible because, well, stuff happens. That’s why you need good major medical coverage. But why not raise your deductible, lower the premium, and put some of the savings aside for the year your number comes up? That leads us very nicely to my second suggestion…
  2. Consider a Health Savings Account (HSA). An HSA allows you to save money with a triple tax advantage: the money is tax free going in, grows tax free, and is tax free as long as you use it for qualified medical expenses (and the IRS has a pretty broad definition of medical expenses). So the HSA will take your healthcare dollars farther. Because our host is a fine CPA, I’ll leave it to him to counsel you further on the tax benefits of an HSA. But do note – in order to open an HSA you must first have a qualified high deductible health insurance plan. The idea here is simple, you get major medical (catastrophic) coverage above the deductible, and you pay for everything before the deductible (though you benefit from provider discounts). You get a lower premium, and put the savings into your HSA to pay your portion. There’s much more that can be said about the HSA approach – and I bet we can get Jason to lend us a bit more space to dive a bit deeper.
  3. Kick your Copay Habit. This solution could really be categorized as 2a as copay addiction is the single biggest reason given for not taking an HSA-qualified health plan. Do you have health insurance or health-care financing? Health insurance exists to protect you from catastrophic medical expenses (like a $25k appendectomy or $150k bypass – real numbers). But the average health insurance plan includes a bunch of front-end goodies (like the office visit copay) that consumers have come to expect. But often you wind up paying a significantly higher premium for the ability to save $50 (give or take) the couple times a year you go to the doctor. Let me put it this way: Does your auto insurance pay for oil changes and new tires? Then why do we expect our health insurance to pay for routine maintenance? Kick your copay to the curb and put some of your premium savings aside to pay for the doc.
  4. Consider Individual Health Insurance. Most people assume they need to get on a group plan to get a better deal. In most cases, quite the opposite is true. Because there are fewer mandates and, yes, more underwriting, individual policies are almost always less expensive. They also remove the one-size-fits-all nature of a group policy, allowing each person to choose the coverage they want. The individual policy is also portable – a big plus in uncertain times. The underwriting issues are the key, though, and the result is that this option might not work for some people. But if it works, you could save a lot of money.

Like most things, the health insurance solution that fits you best is determined by your specific needs, situation, and budget. It’s not thrilling stuff, but it might be worth your time to kick it around.

Alex serves as vice president of AC Forrest Insurance Group, an independent insurance agency specializing in innovative health insurance solutions for small businesses and families. The father of three small kids, he’s also a human jungle gym and cooks a mean quesadilla. To talk with Alex about your insurance situation, learn more about AC Forrest, or to experience more stimulating insurance blogging, visit www.acforrest.com.

  

Guest Post: Run Your Business Ideas Through a GRINDER!

March 10, 2010 by thriveal | No comments

My friend and marketing coach at Biztrek, Gil Gerretsen, contributed a Guest Post for this week.  Twelve great questions you need to ask yourself before getting into a business venture.  It’s a Guest Video Post – check it out:

Many people have called Gil Gerretsen an oracle – a leader who has a unique ability to divine the potential and future of businesses.  He is CEO of BizTrek International, Inc., a worldwide alliance of small business owners learning and sharing the veracity (truth and power) of 12 Triggers that always produce more customers.  He is also a popular and accomplished business speaker and has been recognized in the Who’s Who directories since the mid 1990′s.  If you want to grow a business, then you need to plug into Gil … ’nuff said: http://www.biztrek.com

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