“Is A New Venture In Your Future?”

They say that at some point in everyone’s life, there is a moment where one asks the question, would I be better off starting my own company? Have I had enough of working for someone else, and should I steer my own path? Starting your own company can be both exhilarating and frightening at the same time. Over the years, when talking with quite a few brave souls that have taken the plunge and started their own company, one thing stands out: it takes a very special individual who has the burning desire to make being your own boss a reality, that no matter how lean or tough the going gets, they never lose sight of their ultimate goal–owning and running a successful company. They fully understand there will be long hours, a few doubts along the way, and surely some hiccups, but their drive will not let them stop until they succeed in owning and running their own company. If you are one of these brave souls, we welcome you to that very select group–the start-up entrepreneur!

If you decide to take the leap, one of the things that will work in your favor is the fact that, in today’s world, there has never been an easier or better time to start your own company. In years past, if you wanted to start a new company, chances are you would have had to find a building to rent or buy, hired employees, spent enormous amounts of money on newspaper, radio or TV ads, and, in most cases, you would have concentrated your business usually within a hundred to two hundred miles around your storefront.

With all the tools that now are available to use for a new company, mainly the internet, social media outlets, and on demand independent contractors that you can have in an instant, these new advantages make it much easier to reach a worldwide audience for your company’s services and products. That’s why it’s so exiting and advantageous to get started today. Just for a few minutes, consider in the last ten years or so, the enormous amount of new products, apps, websites, and some of the most innovative companies to come along in quite some time, things we now consider such an important part of our lives, and we couldn’t imagine being without them. It will be very exciting to see what new things that will come into our lives over the next ten years that we will again be looking back on wondering how we ever survived without them.

If you are like most people, at least once in your life, you have had an idea for a new product, service, app or some type of a start-up company. If you are one of the brave souls that wants to go further, you are well aware of all the pitfalls, second-thoughts, and long days which are among the various things you will face on the road to making your dream of being your own boss. The areas where these new ventures are opening are in such diverse areas as app developer, craft beer or liquor manufacturer and distributor, software designer, consultant, healthcare, nutrition & dietary products, or one of the new and exciting products that are being released to the world marketplace each day, and the one item that all these entrepreneurs need is to protect their new venture, and that is where insurance comes into play.

Having the proper insurance in place can be a big plus in the event a lawsuit or claim were to be filed against your company or in the event that your property was destroyed or stolen. In most instances, a company’s first move is to acquire General Liability Insurance Coverage in California. Please be aware that while this type of insurance is vital, it may not cover all of your company’s potential risks. Too often, new business owners believe that a single insurance policy will cover all of their potential risks, but nothing could be further from the truth.

Depending on what type of company you plan to operate, additional coverages you may want to add to your overall insurance plan include Errors & Omissions Liability Insurance, Directors & Officers Liability Insurance, Workers Compensation Insurance, Environmental Liability Insurance, Cyber Liability Insurance , Employment Practices Liability Insurance, Pollution Liability Insurance, Inland Marine Insurance, Property Insurance, and Commercial Auto Insurance, as well as looking at adding an Umbrella Insurance policy for additional coverage. If a new venture is in your future, PJO Insurance Brokerage would welcome the opportunity to work with your company on its insurance needs.

Patrick O’Neill – Owner