Are you and your business ready for 2012? The following are 10 questions to consider when looking ahead to a new year. (Source: National Federation of Independent Business* [nfib.com])
1. Do you still have Santa or holiday graphics on your site?
2. Has anyone asked any of your Frequently Asked Questions in the past year?
3. Is your domain name expiring this year?
4. Did you add any new social media accounts in the past year?
5. Got the wrong copyright year at the bottom of your website?
6. Do your “contact us” forms still work?
7. Are you ready for tax time?
8. Did any of your business policies change?
9. Have you audited your phoned bills and energy bills lately?
10. Can you turn your product into a service?
Click here to read the full story.
Click here to learn how ACCESS Capital Group can help you acquire capital for your business and personal needs.
* This message is provided with the express permission of the National Federation of Independent Business.
Checklist for an Agent’s Small Business
January 11th, 2012Tips for Finding and Training a Successor
December 1st, 2011
ACCESS Capital Group–by purchasing renewal commissions and providing access to capital–helps agents pay off debt, pay taxes, buy leads, invest in their business, and more. In some cases, the capital we provide helps agents retire.
If you’re 50 years of age or older, you’ve no doubt thought about what comes next.
When do you want to retire?
What are you going to do with your business?
Who are you going to entrust it with?
The following are 6 tips for finding and training a successor, so you can retire some day. (Source: nfib.com)
1. Consider family.
2. Create an evaluation strategy.
3. Consult with top clients.
4. Find out top candidates’ intentions.
5. Fill the successor in on your plans.
6. Announce a succession timeframe.
Click HERE to read the full story.
Click HERE to learn how ACCESS Capital Group can help you acquire capital necessary for retirement.
4 Ways to Obtain Capital and Grow Your Business
September 28th, 2011
Money’s tight for everyone these days. According to the National Federation of Independent Business (NFIB), obtaining capital is one of today’s greatest challenges for small businesses. So how do you—an independent agent who’s doing what you can to keep the lights on and maybe even get a hair cut now and then—get the capital necessary to stay afloat or grow your business? Here are four options to consider.
| 1. | Personal Loan (aka phone a friend). Contact a friend and/or family member and ask them for money. NOTE: Always complete a Promissory Note to make the terms of the loan (and its repayment) clear to both parties. Pro’s: You get quick access to capital with fewer stipulations attached. Con’s: You run the risk of straining the relationship if business tanks and you can’t pay the person back. |
| 2. | Equity Financing (aka bring on a partner). You sell shares or partial ownership in your business in exchange for cash and a partner. Pro’s: You don’t owe money if your venture fails. Plus, you acquire an additional person to help with the workload and the generation of new ideas and strategies. Con’s: When your business thrives, you will have to share some of the revenue with your investor/partner and you give up partial control of your business. Remember, your new partner will have ideas about how to run a business too. |
| 3. | Bank Loan. This needs little explanation—you go to the local bank and attempt to borrow money. Pro’s: You may obtain the capital you need while retaining ownership of your business. Con’s: The process—banks, under the growing pressures of federal oversight, require more and more personal information. Loans take longer to process and typically banks will not use future commission income as collateral—at least for now, the days of cash flow lending are over. Banks generally want tangible assets (things they can see, touch, and feel) as collateral. |
| 4. | Sell Renewal Commissions. Call up a company (like ACCESS Capital Group) that purchases blocks of renewal commissions, ask them to evaluate your block of renewal commissions to determine its value. If you are happy with their offer, you sell your block and continue to service the accounts. You get an infusion of capital typically within 1-2 months of your initial inquiry. Pro’s: You get quick access to your capital. You provide no personal information, no credit checks, no background investigations, and you don’t even have to disclose why you need the capital (like you would with a friend or bank). You retain client relationships enabling you to sell other products to those clients. Finally, there’s no interest expense or repayment of principle. Con’s: You trade long-term commission income for the capital you need today. |
If you need capital, give us a call or CLICK HERE and we’ll discuss your options. No cost and no obligations.
Agents helping agents—providing access to capital when they need it.
800-560-2872
info@accesscapitalgrp.com
www.accesscapitalgrp.com
Source: NFIB, Types of Debt Financing for Small Business, http://www.nfib.com
FREE September ACCESS Report Published
September 13th, 2011
ACCESS Capital Group continues to help senior market agents compete – providing quick access to much-needed capital and to free information. Today, ACCESS Capital Group published its Free September ACCESS Report, featuring competitive information for the Medicare Supplement market. This month’s publication includes:
· Rate Increase Filings
· Short Term Care Underwriting Data.
· Medicare Supplement Rates in the State of Pennsylvania.
· Details surrounding a new website that helps agents compete.
Click HERE to download a free copy of the Report (or click on the image). Click HERE to learn how we provide agents access to capital.
Money Stuff Happens…to Everyone
August 2nd, 2011
Recently, we did some soul searching—challenging ourselves to more clearly define what ACCESS Capital Group is all about. In the end, we arrived at a pretty simple message: we help agents during times of financial need.
We looked at the millions of dollars of capital we’ve provided agents over the last few years. Then we dissected our personal industry experiences gained over the last 40 years and we concluded there aren’t a lot of unique financial needs out there. Sometimes it relates to business, but often it’s more personal in nature. The reasons for needing capital are none of our business. In fact, we never ask. Whatever the case may be, however, we’ve found one thing to be constant: the needs aren’t going away!
So today, we’re acknowledging that money stuff happens…to everyone.
Give us a call at 800-560-2872 (ext. 1003) or email info@accesscapitalgrp.com and we’ll talk about how ACCESS Capital Group can help.
FREE June ACCESS Report Now Available
June 8th, 2011
ACCESS Capital Group today published its Free June ACCESS Report, featuring competitive intelligence data for the Medicare Supplement market. This month’s publication includes:
· Rate Increase Filings
· Underwriting Data on Disability Status
· National Analysis of New Plans M and N
· Med Supp Rates in the State of Kansas
Click HERE to download a free copy (or click on the image).
For more information on obtaining capital for your business or accessing additional competitive intelligence information please contact David Emerton, by phone at (800) 560-2872, by email at dave@accesscapitalgrp.com, visit online at www.accesscapitalgrp.com.
ACCESS Report Examines Senior Markets
May 10th, 2011ACCESS Capital Group today published its Free May ACCESS Report, featuring competitive intelligence data for the Medicare Supplement and Short Term Care markets. This month’s publication includes:
· Rate Increase Filings
· Underwriting Data
· Short Term Care Market Watch
· Med Supp Rates in the State of Illinois
Click HERE to download a free copy (or click on the image).
To learn more about ACCESS Capital Group and how it helps agents and agencies grow their businesses, call 800-560-2872 (ext. 1003), email info@accesscapitalgrp.com, or visit accesscapitalgrp.com.
FREE April ACCESS Report Now Available
April 12th, 2011ACCESS Capital Group published its Free April ACCESS Report this week, featuring:
- Competitive intelligence data for the Medicare Supplement marketplace
- Final Expense Life “Who’s Hot” annual rate data for the U.S.
- A 2-page, state-by-state Medicare Supplement (Plan F) rate comparison
View it HERE.
The ACCESS Report is a free monthly publication providing a snapshot of today’s Senior Insurance Marketplace (Medicare Supplement, Medicare Advantage, Final Expense Life and more).
For more information on obtaining capital for your business or accessing additional competitive intelligence information please contact David Emerton, by phone at (800) 560-2872, by email at dave@accesscapitalgrp.com, visit online at www.accesscapitalgrp.com.
Add Guardian to the List of LTC Defectors
February 15th, 2011Guardian Life Insurance Company of America announced last week it’s going to stop traditional long term care (LTC) insurance sales by the end of 2011. Add them to the growing list of LTC defectors.
Last October, we blogged about the burning question: Is Traditional Long-Term Care Insurance Viable?. Reader response, MetLife’s decision last December to exit the traditional LTC market, and now Guardian’s announcement confirm traditional LTC’s questionable future. Guardian, it appears, is just the latest to recognize that – when you slice the pie of qualified candidates who can afford traditional LTC – there’s not a whole lot to eat.
So viability continues to remain suspect. And we’ll keep tracking it for you.
For more about Guardian’s announcement, click HERE.
FREE February ACCESS Report Now Available
January 31st, 2011ACCESS Capital Group today published its Free February ACCESS Report, featuring:
- Competitive intelligence data for the Medicare Supplement marketplace
- “Who’s Hot” data for the state of Missouri
- A 5-year Medicare Supplement vs. Advantage enrollee comparison
View it HERE.
The ACCESS Report provides a snapshot of the Medicare Supplement marketplace, which is helpful to many ACCESS clients.
For more information on obtaining capital for your business or accessing additional competitive intelligence information please contact David Emerton, by phone at (800) 560-2872, by email at dave@accesscapitalgrp.com.com, visit online at www.accesscapitalgrp.com.
