Category: Small Business General

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Marketing Small Business General

A Guide to Online Marketing: Small Business Edition

Most small business owners rely on traditional marketing methods to grow their business. Think print ads, community events and word of mouth. But, if you feel that your business isn’t scaling as quickly as you desire, it may be time to invest energy into online marketing. The great thing about online marketing is that you can implement most of these strategies with little to no upfront cost. Below is our guide to online marketing: small business edition. Let’s explore several different internet marketing strategies that you can use to help scale your small business.

Create an Email List

The first step is to create an email list to reach your customer base. Do you have an email list comprised of warm leads? Are you using it to reach out to prospects to drive your sales? Once you’ve created an email list, here are some strategies to leverage it to better position your business to customers.

  • Create a pop-up box on your website – have you ever gone to a retail website to start shopping and been greeted by a pop-up box promoting you to enter your email address in exchange for something? “Sign up to receive free alerts”, “be the first to know” or “join our newsletter” are commonly used phrases. Customers love to be part of something bigger. Entice them to give you their email address by providing the allure of exclusivity. Alternatively, you can offer a free PDF, downloadable guide, or video that ties in with your business.
  • Use ads to direct prospects – Similar to a pop-up box, a more elaborate version consists of using targeted ads to direct prospects to a landing page. Remember, pop up boxes hold limited amounts of information. Imagine being able to direct your potential clients to page that will hold as much material as you would like. The ability to grab the customers attention with pop ups is the start while the landing page is meant to offer more information.
  • Collect email addresses in person – Heading to a local small business networking event? This is the perfect opportunity to try and collect some email addresses. You can use low tech options like a clipboard and paper or track emails on an iPad. Including QR codes on your business card are also a popular option.

Create Email Funnels 

After you have your list of contacts, start reaching out to them with a series of email flows. You can write the emails yourself and use software, like Marketing 360 to automate the send-outs. Or you can hire a professional copywriter or agency to do it for you. Start small and see what works for you!
 
You also may be wondering what the magic number is for the amount of emails you should send. That will vary depending on your business, your preferences, your customers, and your budget. If you are an online or brick and mortar store that sells physical goods, you may want to write several emails a week detailing discounts, promotions and giveaways. Maybe you are a fitness studio and are more interested in sending biweekly or monthly newsletters to keep your clients engaged. Remember, marketing starts as trust building and educating.

Consider Paid Advertising

Though commonly expensive, paid advertising can be the single most effective way to attract new customers to your business. The average cost for small to medium size business is approximately $2500 to $12,00 a month. It’s important to note that paid advertising isn’t the same as using a social media page to promote your business. While you can certainly post content on your business’s Facebook or Instagram to help promote your business, paids ads can extend your business’ reach!

Conclusion

The above guide to online marketing: small business edition, is just a sample of the many ways you can generate revenue through internet marketing. Many business owners find the rabbit hole of internet marketing is actually quite deep, and the rewards can be profound.

At Gild Insurance we always like to say that having insurance is the best way to prepare your business for future scalability, and in many ways, internet marketing is very similar.  After all, that’s one of the great things about the internet era: the next best thing is never more than a click away!  

To learn more about the tools and resources available to the Gild Community, check out Gildhall!

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Business Credit Small Business General

Building Business Credit Fast: A Friendly Guide to Financial Success

Let’s dive in to the exciting world of building your business credit. It’s like giving your business a financial high-five and opening doors to new opportunities. Here’s the nitty-gritty of how you can build a stellar business credit score!

How To Build Business Credit

Register Your Business: like planting a seed, you need to have a solid foundation. Make it official – register your business. Get the necessary licenses. And create a separate business bank account. This step is like setting up the roots for your financial tree.

Get An EIN (Employee Identification Number): think of this as your business’s social security number. It’s unique to your business. It is crucial for separating your personal and business finances. It’s your business’s way of saying, “I’m independent!”

Open A Business Bank Account: this is where the magic happens. Having a dedicated business bank account makes you look professional. It helps keep your business finances organized. It’s like having a tidy room – everything is in its place.

Buy Business Insurance: Credited by Gild Insurance helps build your business credit score with on-time business insurance premium payments.

Pay Your Bills On Time: this one’s a golden rule. Just like meeting deadlines, paying your bills on time boosts your business credit score. It shows that you’re reliable and trustworthy – qualities everyone loves in a business partner.

Apply For A Business Credit Card: a business credit card is your financial sidekick! It can help make necessary purchases and establish credit for your business. Remember, responsible credit card use is the key here – it’s like having a trusty sidekick who always has your back.

Building A Business Credit Score Fast

Building your business credit is a journey, not a sprint. Stay consistent, be responsible, and watch your business credit score soar. Remember, it’s not just about the numbers; it’s about creating a financial legacy.

To learn more about business credit, check out:

“Credited by Gild Insurance”

“Exploring the World of Business Credit and Your Business Credit Score”!

If you need help with your business, your friends at Gild Insurance are only a click away! We combine the latest technology with experience to provide business options that fit your business!

Categories
Business Credit Small Business General

How to Build Business Credit Without Using Personal Credit

Let’s chat about something essential in the business realm: business credit and the often confusing business credit score. Additionally, you may be wondering, how can I build business credit without using personal credit? It’s a question many small business owners ask as they seek to keep their business and personal finances separate.

What Is A Credit Score?

A personal credit score helps lenders determine what products to offer you and on what terms. Personal credit scores consider factors like credit card balances, timely payments, and length of credit history. Therefore, the higher your score, the better credit opportunities you’ll have—on a personal level.

But when it comes to your business, think of your business credit score as your company’s financial reputation. Unlike personal credit, your business credit score shows how reliably your business makes payments and manages credit. This score gives lenders a quick snapshot of your business’s financial health.

How to Build Business Credit Without Using Personal Credit

The good news is, you can establish and grow your business credit without relying on your personal credit. Here’s how:

  1. Incorporate Your Business: The first step is to legally separate your business from yourself. Subsequently, incorporating your business or forming an LLC can help you create a distinct credit profile for your business.
  2. Get an EIN (Employer Identification Number): This is essentially a Social Security number for your business. It’s used for tax filings and to establish business credit accounts without using your personal SSN.
  3. Open a Business Bank Account: Separate your personal and business finances. Start by opening a business bank account and using it for all business-related transactions.
  4. Apply for a Business Credit Card: Once your business is set up, apply for a business credit card. Make sure the card is only tied to your business and not to your personal credit. Use it regularly and pay it off on time to build a strong business credit score.
  5. Establish Trade Credit: Many suppliers will offer your business trade credit, allowing you to purchase products or services on credit and pay later. Make sure these accounts report to business credit bureaus, which helps grow your business credit profile.

What Affects Your Business Credit Score?

To grow your business credit without using personal credit, it’s important to understand what factors affect your score:

  • Your Bills: Timely payments build a strong business credit profile.
  • Credit Utilization: Keep your business credit card balances low compared to your credit limits.
  • Credit History: The more financial transactions on your credit profile, the more reliable you appear to lenders.
  • Public Records: Legal issues, liens, or bankruptcies related to your business can negatively impact your business credit score.

Where Can You Check Your Business Credit Score?

Just like with personal credit, there are business credit bureaus that track your business’s financial health. Comparatively, these bureaus aggregate data about businesses to determine their creditworthiness. Here are the main business credit bureaus:

Why is Business Credit Important?

Your business credit score allows your business to secure loans, lines of credit, or trade accounts. Creditors or trade partners may check your business credit to determine if you are creditworthy. A higher business credit score can lead to lower interest rates and better terms, helping your business save money in the long run.

How Gild Insurance Can Help You Build Business Credit

One unique way to build business credit without using personal credit is through Gild Insurance. Gild Insurance is the first insurance agency to use business insurance premiums to help build your business credit score! With Credited by Gild Insurance, your business can use on-time insurance premium payments to help improve its credit profile.

To learn more about business credit, check out our guide: Building Business Credit Fast: A Friendly Guide to Financial Success.

If you need help with your business, your friends at Gild Insurance are only a click away! We combine the latest technology with experience to provide business insurance options that fit your business.

Categories
Small Business General

Concussion Protocol for Small Businesses

Concussion Protocol

Did you know that concussions are a common result of liability claims for fitness businesses? Additionally, head injuries happen in sports and fitness studios, making it crucial for fitness businesses to be prepared. In fact, many of Gild Insurance’s partners now require business owners to have a concussion protocol in place. Without one, you might not be able to get insurance.

According to the University of Pittsburgh Medical Center, between 1.7 and 3 million sports-related concussions happen each year. Shockingly, 5 out of 10 of these concussions go unreported or undetected. Certainly, as a fitness business owner, it’s important to understand the risks of concussions.

What is a Concussion?

The CDC defines a concussion as, “a type of traumatic brain injury “or TBI. A TBI is caused by a bump, blow, or jolt to the head. It is a sudden movement causing the brain to bounce around or twist in the skull. Basically, this movement creates chemical changes in the brain and sometimes stretches and damages brain cells.[2] A forceful impact to your face, neck, or even other parts of your body can be involved. Therefore, this broad definition makes more understandable why concussions may be likely in a studio or fitness facility!

Concussion Protocol for Small Businesses

So, what can you do to protect your business and your clients? A concussion protocol is a set of rules and tools used to care for someone who might have a concussion. Comparatively, it includes assessments and guidelines to ensure proper care. For example, the NCAA offers a detailed concussion protocol that fitness businesses can use as a model. is an actual concussion protocol from the NCAA for a real-world example.

Additional Resources

Furthermore, here is more information on concussion protocols for small businesses, prevention, and care:

  • DC’s Heads Up – The Centers for Disease Control comprehensive list of the signs, symptoms, and dangers of a concussion. Undoubtedly, an excellent resource to use while establishing your own protocol.
  • American Academy of Neurology – The world’s largest associated of neurologists is a trusted authority on concussions. Markedly, a concussion checklist is available to evaluate the possibility of a concussion and the need for a doctor.

To learn more about the risks of fitness businesses, check out: “The Most Common Liability Claims for Fitness Studio Owners“. “Professional Liability And The Fitness Studio Owner”.

Certainly, it is best to have an end-to-end insurance plan in place. Take steps to cover your business or organization in a worst-case scenario. At Gild Insurance, get the right insurance for your business’s unique needs!

Fitness instructor, studio owner, or personal trainer, we help fitness professionals like yourself find the insurance products you need!

Sources:

  • [2] Heads Up. Safe Brain. Strong Future.” Center for Disease Control, 25 Feb 2022, https://www.cdc.gov/headsup/index.html
  • Disclaimer: The content in this article is informational and educational. It is not medical or legal advice. All information provided in this article is for general purposes only.
Categories
Small Business General

The Gild Guide: Most Common Small Business Insurance Questions

Insurance can be an overwhelming and complicated topic which can leave both new or seasoned small business owners intimidated. Unsurprisingly, the internet is full of questions regarding small business insurance. Here are some of the most common questions you and other business owners have. So let’s get you some answers!

Q: What determines insurance premiums for small business insurance?

A: The more risks associated with your business (in the eyes of the insurance carrier), the higher your premiums. Generally speaking, four main variables determine how much you will pay for your insurance.  

  • The number of employees you have and the revenue size of your company.  
  • The value of the assets you wish to insure.
  • The specific risks associated with your business.  

Q: Does general liability insurance cover all risks associated with running my business? 

A: General liability insurance protects against the most common risks associated with running a business. It is in no way comprehensive. It covers things like physical injuries to others, damage to others’ property, or advertising injuries. Damage to your property, injuries to your employees is not covered. Professional services and advice is also excluded.  

When you’re first starting your business, general liability insurance may suffice for your needs. But as your business grows, so too will your risks. Upgrading to a BOP or business owner’s policy is a great option. For more information regarding why business insurance may be the missing piece to your growth plan click here. 

Q: How do I prove I have insurance? How do I show my landlord, for example?  

A: A certificate of insurance (COI) is the easiest way to prove your business is insured. If you drive a vehicle and pay insurance on it, you already have experience with certificates of insurance (COI). Your insurance cards are a COI!  

For a small business, certificates of insurance (COI) function basically the same way. COIs are available through your agent. Many times, a COI is available online through your insurance provider. Once you have your COI, you can email it to your client or business partner!

Requesting your COI is easy with Gild Insurance just contact us!

Q: Should I include insurance in my yearly budget or growth plan?

A: Absolutely! Insurance is something that is going to be with your business for the long haul. You will need to scale it accordingly as your business continues to grow. Remember, business insurance isn’t just protection against a catastrophic event!

While accident protection is an aspect of business insurance, another part directly relates to scalability. If you don’t have proper business insurance, you’ll limit your business’s capacity for growth. Landlords and other outside parties look at business insurance as an indicator that the business owner is reliable and trustworthy.

Q: Do I need business insurance to secure a loan? 

A: A loan from the Small Business Administration requires proof of proper insurance. The insurance coverages you need will vary depending on your business and the associated risks. You may need to show proof of several types of insurance before securing funds.

If the lender believes you’re operating a business in a risky manner, they will be less willing to lend your business money. In general, having the right business insurance is a great way to show lenders and other business partners that you are a professional business worthy of partnering with.

Q: Will outside factors affect how much I have to pay? Will the crime rate in my area affect the price of my insurance?

A: As mentioned above, your insurance provider uses many factors to gauge the risk of your business. These factors determine how much the insurance will cost you. Remember, business insurance is a for-profit business. It’s only natural that your insurance company wants to safeguard itself from suffering any losses. If you want to know what specific factors are driving your premium prices, contact your insurance provider directly.

Q: Will my homeowner’s insurance cover me if I run my business from my home?

A: It depends. Usually, the coverage afforded to you by homeowners’ insurance isn’t enough to properly protect your business. For example, many standard home insurance policies only cover up to $2,500 worth of business property. Businesses that sell goods shipped from home likely have more than $2,500 worth of inventory in their living room right now!

Q: What’s the deal with worker’s compensation insurance? How do I get it?

A: Worker’s compensation insurance provided benefits to injured employees that occur due to work. Worker’s compensation insurance is legally required for many small businesses!

What’s confusing about worker’s compensation insurance is that the legal requirements to have it vary from state to state. This also includes how businesses go about getting it in the first place.

Q: What’s the best way to find insurance?

A: Insurance agents are a tried and true method for finding the most comprehensive insurance coverage. Thanks to the rise of recent technological advances, you can now also get quick quotes online through insurance aggregator platforms.

That’s where Gild Insurance comes into the picture. We offer free online quote functionality, backed by small business insurance agents! A personal, fast, and hassle-free process.

If you need help navigating the world of small business insurance, remember that help is always just a click away. Gild Insurance can help you find the right insurance options that fit your business.

If you have questions or simply want more info, reach on out! The Gild Team, along with Gildber the husky, are always standing by, ready to help.

Sources

Kilroy, Ashley. “Home-Based Business Insurance Explained.” Forbes. 2 Nov 2023. Accessed 13 Dec 2023. https://www.forbes.com/advisor/homeowners-insurance/home-based-business-insurance/