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The upside of having corporate insurance

Image source: When it comes to preparing for the worst possible thing that can happen to your corporate enterprise, Michael Saltzstein attests to the importance of having corporate insurance. Below explores some of its upsides. 1. Defense against lawsuits Don’t be too complacent and think that nobody will sue you, even when you know in your heart that you have not done anything wrong in your practice. The experts always consider reality as a litigious society. One disgruntled employee, one unhappy customer, or one small contractual error is all it takes for a lawsuit to be filed against you. Be humble enough to accept that you do not know everything, and be smart about preparing for unfortunate circumstances, suggests Michael Saltzstein. 2. Business credibility Having corporate insurance offers you protection from so many things. Also, news of your company having corporate insurance increases your overall credibility. Such an image makes you stand out a
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Smart moves for your business - The advantages of going public

Image source: Michael Saltzstein is always ready to provide very sound advice when it comes to business, which many company owners and other organizations have truly benefited from significantly over the years. In this blog, he talks about the advantages of going public. Going public is a move that a lot of companies make, mostly in the interest of realizing gains for the organization as a whole. When a company is said to go public, it signifies its intention to relinquish a certain percentage of its company to individuals who would like to have a stake in it. The mechanism that spurs this is an Initial Public Offering or an IPO, which is better understood as an official announcement of the company’s intentions to go public and reel in potential investors, shares Michael Saltzstein. The main advantage for the company is that the invested money can be used to finance their operations, to make them even more competitive and robust in business. This also means t

Business corner: Honing leadership

Image source: Michael Saltzstein has always emphasized the importance of effective leadership in a businesses’ success. However, like any other important trait, leadership needs to be worked on, constantly. On that note, Michael Saltzstein shares some ways business leaders can improve their leadership skills. Practice solving theoretical problems. One of the skills business leaders should work on is problem-solving. They ought to take the time to practice solving theoretical problems found in books and online. Not only does this build confidence but also keeps them from freezing and being rattled when inevitable issues arise within the company. Look at the picture from all angles and sizes. Michael Saltzstein mentions that while leaders should focus on the bigger picture, they should also be adept at looking at the company’s goals and targets from all angles and sizes. They should have a good idea of long-term and short-term plans, small and big goals. Revie

Business 101: Tried and tested methods from growth and expansion

Image source: Company growth and expansion should be two of the main goals of every business owner. For today’s blog, Michael Saltzstein reviews four tried and tested methods and strategies for business growth and expansion. 1. Market development Through market development, companies target previously unexplored markets. If the current market has become saturated or if a product or service emerges, it is a good time for this particular growth strategy. 2. Product expansion While common, product expansion or product development is an effective growth strategy. The intention here is to launch new products and services in the existing markets of the business. Product expansion involves investing in research and development or acquiring rights to create and distribute another business or company’s products. Image source: 3. Market penetration Like market development, businesses looking to grow and expand can target additional market sh

Cybersecurity issues arising from COVID-19

Image source: Since the start of the pandemic, the world has been craving more information about COVID-19. While fake news and fraudulent websites have existed prior to the blast of the global health issue, cybercriminals are taking advantage of the situation, creating fake news websites and fraudulent accounts on Zoom. Companies that don’t have pandemic plans in place and were caught off guard by COVID-19, leading to more security breaches caused by staff members misguided about the best practices on the remote work setup. Michael Saltzstein notes that the extensive adoption of remote working is the primary cause of the increase in cyberattacks. Individuals are more vulnerable to cyberattacks due to the highly emotional and physical issues brought by COVID-19. Cybercriminal groups are taking advantage of the global situation, expanding their social engineering or psychological manipulation assaults. Image source: The lockdown period has most of the world

What is labor compliance and why it matters

Image source: Every year the US government, particularly the Department of State, releases the Trafficking-in-Persons Report. The US does not tolerate any form of wrongdoing in terms of work or any activity that violates a person’s rights surrounding work. Individuals who are complicit in these illegal practices often receive sanctions and the condemnation of society at large. If you’re running a business, you should know about why labor compliance, says Michael Saltzstein. First and foremost, consumers today have become more concerned about where their products are coming from. They are concerned about how ethical the sourcing is. For example, when workers at a plant in China connected to the manufacturing of iPhones started taking their own lives, many consumers viewed Apple negatively. Many consumers believe their purchasing power can also be leveraged for ethical causes and often support businesses that mirror their best beliefs. Image source: To

What to expect in occupational health and safety standards post-COVID19

Image source: COVID-19 has changed the way people have been living their lives. Experts are being more comfortable with the idea that everyone will be living with the threat of the virus for the long haul. Because of this, Michael Saltzstein reminds us all that this is not the first time the world has had to co-exist with a health threat. Furthermore, people can expect some trends to develop in occupational health and safety standards following this pandemic. To begin with, companies may generally take on a hybrid approach to employee attendance. Before the pandemic, workers were required to report to the office and spend a fixed time doing work in the confines of a common space. Now, people have been forced to stay at home and use the internet to connect to one another. Chances are, this practice will be made into a more regular aspect of business operations, to keep the number of employees present in the office to a minimum, mentions Michael Saltzstein.