Monthly Archives: January 2019

Starting Out – What Insurance Do I Need?

Starting your business journey is one of the most challenging yet rewarding decisions you’ll ever make. My journey started a little over 3 years ago. Yes there are risks involved by why play it safe forever.

Before you make that final decision to back yourself, it’s important to surround yourself with like minded individuals and professionals to support you along the way, especially at the planning stage.

We provide advice and guidance to a large number of start up SME’s and one of the most frequent questions we are asked is what type of insurance do I need to get started? Answering this question depends greatly on the business products or services you plan on offering to your customers as well as the structure of the business your accountant has recommended such as incorporated company, partnership or sole trader for example.

https://www.steadfast.com.au/well-covered/insurance-for-starting-out-business/how-to-minimise-being-underinsured

Value At What Cost?

In todays fast paced society where goods and services are at our disposal at any given time, we largely focus our attention on “how much is this going to cost me?” Remember, there is always someone who is going to be cheaper and price only becomes an issue in the absence of value.

Jason Grech’s article “There is Always Someone Cheaper” demonstrates that regardless of the service being offered, in the end, you get what you pay for.

I’d like you to think about your mechanic for a moment. If he or she asked how you would like to have your car services by choosing two of the three services offered below, which would you take? The same can be said about any service provider.

So, why do we place this pressure on ourselves to source all three services and then get disappointed when it comes down to price? It is because the service provider has not taken the time demonstrate the true value with their offering. Within our industry, this can be dangerous for clients as we see clients comparing insurance coverage based on price alone which can lead to potential reductions in cover when switching between service providers. Steadfast Group have released the below video which demonstrates our value to our clients.

Get The Right Cover For Your Business from Steadfast Group on Vimeo.