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Owning a Business in Durban - Insurance Do’s and Don’ts





Simple Tips To Know When Business | CIG Business Insurance Brokers Owning a Business in Durban - Insurance Do’s and Don’ts

Owning a business in Durban: do’s and don’ts

“Don’t be afraid to go out on a limb. That’s where the fruit is.” – H. Jackson. Starting a business is no small feat and every entrepreneur would be inclined to agree. Although it’s tough to get your own company off the ground, it’s worth the effort when you start to reap the rewards. As a recognised provider with a team of insurance brokers (Durban and beyond), our offering is a comprehensive one. This means sharing a few pearls of wisdom to those that trust us with their livelihoods.

If you find yourself running your own entity, you might want to read through these do’s and don’ts.

Paperwork is necessary – don’t overlook the particulars

Wherever T’s and C’s apply, you should make it your mission to know and understand them. This is because the fine print on important documents often makes the greatest impact on your company. From contractual agreements with service providers to your own tailored business insurance policy, you need to be thorough. In doing so, you’ll have a complete understanding of what is expected of you in all situations. On the insurance side of things, we’ve often had to assist and guide businesses who were grossly under compensated due to misunderstanding the exclusions of another provider’s policies. Don’t let this be you. Your insurance brokers should go through your policy in detail. Should you have any questions, always ask them. You never know when the answers might come in handy.

Never leave home without your business cards

Yes, we know it’s 2018, yet somehow, you’ll still be asked for a business card. First and foremost, ensure that you have a business card. Is the design simple yet striking? Does it create a lasting impression that you’d happily be remembered by? If the answer is yes, hand it over. If not, perhaps it’s time to create some new ones. Your business card is your own unique signature so it needs to do you justice. Carrying a few on hand is often a sure way to generate new leads and even secure business. If you’re asked for a card and you don’t have one on hand, you might come across as forgetful and even unprofessional. Two things that you probably aren’t.

Don’t miss a chance to network

Who you know is often just as important as what you know. This makes connecting with people an important way to ensure that you get yourself and your business out there. Are you on the right platforms and do you attend regular events where other professionals and business owners are? If not, it’s something you should definitely look into. These events often lead to introductions that create meaningful and profitable relationships between people. Whether it’s meeting a new supplier or a potential client, these kinds of exchanges can often lead to great results. So when in doubt, just go and take those business cards with you.

Remain open minded

This one is often the most difficult to remember. This is because every path to success is totally different and each one will have its own pitfalls along the way. If you ask any business owner, they’ll tell you that the ride probably wasn’t as smooth as they’d hoped for it to be. They might also say that they had to change their methods to get to where they are today. It happens, but what matters most is that you’re innovative enough to come up with new solutions and flexible enough to embrace them. This kind of flexibility is often the difference between experiencing business growth and stagnation. Which one would you prefer?

Choose the right team

When it’s something so close to your heart, you need a team that you can trust. Whether it’s your inventory, admin or insurance, an expert opinion can make all the difference. For a fail-proof approach to your company policies, please contact us today.


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