Essentials On Small Business Insurance Coverage



"Go start a business!" they said.

"It'll be fun and you'll make a lot of money!" they said. "FLEXIBILITY!" "BE YOUR OWN BOSS."

But then ... well, you are your own boss now. And there are so-many-things to think about beyond what you got into your business to actually do.

It's time to put on your grown-up pants, because whether you're newly freelancing or have a "bigger" small business in Salt Lake County (i.e. you have employees, overhead, and more), there are a few essential components for which to make sure you have a plan.

Because if you don't, you might find your business in jeopardy should things shake out in a particular way.

These are "the big six" for any small business owner, new freelancer, or participant in the growing "gig economy" to make sure they have covered...

Janet Behm's Essentials On Small Business Insurance Coverage

"F-E-A-R has two meanings: 'Forget Everything And Run' or 'Face Everything And Rise.' The choice is yours." - Zig Ziglar

Most freelancers, and a surprising number of small business owners, have NOT made a plan for six essential coverage needs for their business. Read More...

Leave / View Comments

Brand Leverage: How to Maximize your Salt Lake County Small Business' Strengths


"Opportunity is missed by most people because it is dressed in overalls and looks like work." - Thomas Edison

In my observation, many entrepreneurs struggle with the same problem: lack of focus. It's hard to say no to good ideas. It's even harder to say no to great ideas.

But when you don't realize that there are some basic points of leverage in your business, you can begin to make better decisions, and more easily turn down the distractions that so readily come at you as a business owner. Read More...

Leave / View Comments

What Is The Proper Role Of A Salt Lake County Small Business Owner?


"If a man does not keep pace with his companions, perhaps it is because he hears a different drummer." - Henry David Thoreau

I'm curious. What drove you to start your own small business? A passion for the product or service you provide? A desire to be your own boss? A chance to dust off some ambition? A drive to stick it to "the man"?

Did you become a small business owner because you enjoy marketing or management? Probably not. But, if you're going to continue to grow your business you have to realize this important fact: Unless you want your Salt Lake County business to forever stay in the category of "side hustle", you must move on from seeing yourself as a service or product provider.

Let me quickly show you the difference between an OWNER and a service/product provider. Read More...

Leave / View Comments

Frazzled Fido Makes for Moving Day Disasters



When you’re ready to make your move, it’s important to consider the effects of the day on your furry friend. Dogs aren’t especially keen on having strangers show up and start deconstructing the family castle. Here are a few tips to waylay aggression, squash stress, and out anxiety for your canine comrade on moving day.

First things first: do your home research

When searching for a home, be sure to keep Fido’s needs in mind. If he’s a large breed, he’ll probably need a yard to run and play in. If he is older and has trouble getting around or a breed predisposed to hip or back problems, a multi-level house may be hard for him to navigate. Take a look at home prices in your area to make sure you can accommodate him. In West Jordan, UT, the average home sale price is about $310K, so take that into consideration. For example, big homes with large, fenced-in yards may be a bit more expensive than that average, so ask yourself if you can afford that. If you can’t, a smaller dwelling close to a dog park should be on your home-buying radar.

Understand your dog’s behavior

Leave / View Comments

How to Find a Business Mentor


"It's the little details that are vital. Little things make big things happen." - John Wooden

For those of you in the early stages in your career, this article might be worth more than many of the classes you took in college -- if you follow my advice on how to find a business mentor.

And, for those of you who are further along in your business career in Salt Lake County ... frankly, the advice still applies. I can't tell you how many lunches (or coffees) I've been to with ill-prepared, meandering partners. And while some of the specifics of the questions might change from what I suggest here, and from person to person, and over the years ... there simply isn't a better way to build relationships with someone who is busy and successful than what I suggest below. After all ... they gotta eat!

Go somewhere easy -- and YOU pay.

Leave / View Comments

3% of Businesses are Soaring!


When I sit down with my Salt Lake County business owner clients (whether in person or on the phone), we try to look at EVERY aspect of their business, not just their books. And there is often great clarity when we peek at what is *behind* the books (marketing, sales, management, asset management, etc.).

The good news for my business owner clients from Salt Lake County is that when we put in place clear metrics and financial reports, they shed clear light on strategic decisions.

But the problem I've often found, is that OUTSIDE of the financial reports we're able to create for our clients, there are very few additional metrics in place to evaluate if they're headed in the right direction -- from a strategic, tactical and growth-oriented perspective.

Sure, financial numbers are great -- but what are your GOALS? And, I don't just mean sales goals. What do you want your business to look like two years from now? Five years from now?

And what are you doing to get there?

Too often, business owners are so busy working "in" their business, that they don't have the time to work ON these sorts of things properly. Read More...

Leave / View Comments

3-Reasons to Raise Your Prices


I take a look around the small business world sometimes, and I get a little sad.

It's heartbreaking to watch small businesses in Salt Lake County go out of business or not bring home enough bacon simply because they get trapped into thinking about their pricing in the wrong way.

When you differentiate yourself based on price, you simply cannot provide value. You end up competing on the wrong playing field, and it's not one in which you are built to win.

Yes, price war competitors have been in operation since the days of the Greek agora, but it's important to understand that if YOU want to build a sustainable, scalable -- and one day SALE-able -- business, a core foundational piece of that puzzle is that you must be charging enough for your goods and services. Read More...

Leave / View Comments

Be the ROAR


BE THE ROAR. The idea is to be world-class at one thing your company does, rather than be mediocre at everything. This concept is expressed very well in Jason Fried’s book REWORK. ( ).

Here in Salt Lake County, we are surrounded with world-class businesses. Business that have one thing that they do better than any other company in the world! It was exciting to do the research for this article because it was surprisingly difficult to choose from all the superb businesses serving the real estate industry.

We are looking at Utah businesses that demonstrate world-class performance:

1. Find a Niche where you can serve in a way no other business does,

2. Stay Connected, so when a prospect is ready to buy, your company is top-of-mind, and Read More...

Leave / View Comments

A Family Budget Plan


"Don't just count your years, make your years count." - Ernest Meyers

In my previous note, I wrote about some "big picture" exercises to have with your partner, or for your own financial reconfiguration.

Those were: 1) Writing Your Money Story and 2) Imagining Your Ideal Financial Scenario. Both of these exercises were to lay the foundation for getting practical -- because the practical outworking that comes from these exercises is where steady foundations are built, or becomes the place at which change actually occurs.

So, this is a small bit of practical advice, building upon those first exercises...

Create Your Family Budget Plan Now
As a couple, begin with the assumption that you will pool your money.

Couples enjoy an economic bonus because two can live more cheaply than both could alone. However, do not expect to achieve financial peace without a plan!

I highly recommend that you plan to live on one salary for the first several years. This is a challenge that too few couples in Salt Lake County accept. If you max your lifestyle to pay for a mortgage, car payments, gym memberships, and the like, you will have no flexibility to adjust when children come. Your first years of marriage offer a great opportunity to save for an emergency fund and a down payment on your first house.

Start by tracking your current expenses to give you a starting point for creating your own budget. Budgeting is like healthy eating. You need to maintain balance and avoid excessive indulgences. 

Going through this exercise will likely reveal who has the greater interest in paying the bills. Even when only one of you will be paying the bills, you can only build trust if you decide together how your money will be spent.

Remember to allocate some savings. After all, as I've written, wealth is not what you spend but what you save and invest.

Now you can build a financial fortress that re-writes your story, and which takes you to the place of your greatest hopes.

Until next week,

Janet Behm

Janet Behm is a CPA for Utah Real Estate Accountants.  To contact Janet, please visit the Business Directory located at:

Leave / View Comments