Moving Past the COVID Chaos: Tips for Your Insurance, Finances, and Business - July 13, 2020

July 13, 2020
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News. Insights. Analysis. Inspiration.

Today's Key Question:

COVID has shown business owners that they could unfortunately lose key people due to serious illness. Do you know how to secure your business against such a loss?

Read more in my essay below. 


"How a coin shortage is impacting Mich. retailers and grocery stores"

From USA Today:

"It's a supply chain issue," Nobis said. "Normally there's a lot of recycling. Customers bring in coin to the bank, we ship it to the Fed and we fill our order out for customers."

Nobis said the shortage is temporary.

"As more banks open and they are able to take those coin deposits in and the Fed is going to increase what they are minting," she said.

In the meantime, she said, the bank is urging customers to bring in coins. It's also doing centralized ordering, doing half boxes and rationing. 



"Today's Realities and Retooling Your Supply Chain Risk"

From Entrepreneur:

* Even during good times, business risk is everywhere. This is particularly so for small- and medium-size firms, which face constant pressure from all sides, whether challenged by upstart competitors or established players. As if that weren’t enough, the coronavirus pandemic has dramatically shifted purchasing channels and driven unprecedented online shopping demand.



"This startup gives renters a financial stake in their apartments"

The average young person will spend more than $200,000 on rent, without the benefits of owning property. Now, Rhove reimagines renters as stakeholders to help them build wealth.

From Fast Company:

“We’re creating a new situation where every renter is a stakeholder,” says Rhove cofounder Calvin Cooper. “Everybody living at the property is going to be granted a financial stake in the building, and they’ll be able to buy more on their own terms. So what we’re creating is a situation where renters are given many of the financial benefits of ownership while maintaining the flexibility of renting.”





* You can’t secure the building without security personnel. And you can’t keep the floors clean without the maintenance staff. The same goes for every clerk, administrator, secretary, supervisor, manager, and executive. Your business runs on the shoulders of many people in a variety of positions. Have you made sure that the loss of a key player won’t harm your business?


Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here