SPRING ISSUE 2019
WOMEN IN POWER Business Magazine
Vol.17 No.2
Maria Rios President and CEO of Nation Waste, Inc. In 2013, Maria Rios was named by Fortune magazine as one of the Most Powerful Women Entrepreneurs in America.
Story on page 14 - 16
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LETTER FROM THE PUBLISHER Fourth Edition Welcome to our official chamber 2019 Signature edition of the Woman in Power Business Magazine©! The Women's Chamber introduces our fourth issue to debut on May 17, 2019, at our 7th Annual ATHENA Women's Leadership Day Luncheon with Mistress of Ceremonies Rita Vaswani, VP/Relationship Manager, Nevada State Bank, 2013 NV Women's Hall of Fame Inductee and Keynote Speaker Tricia Kean, Channel 13 News Anchor. We will continue our celebrating women in the United States on the cover who have made it in a position that many decades ago would not be possible. As an entrepreneur myself, it was difficult back in the '70s, but I made my own way. Women are strong and intelligent, so within the magazine, we also highlight five powerful Women in Nevada in each issue. Our five powerful women in this issue are; Berenice Church, Vice President/Senior Relationship Manager, Wells Fargo Bank, Debbie Banko, President and CEO of Link Technologies, Debra March, Mayor of Henderson, Nevada, Laura Fairchild, Community Relations, StorageWest, Las Vegas and Tricia Kean, weekday Anchor for KTNV, channel 13 ABC. Our Feature Story in the magazine is based on highlighting two Powerful "Young Professional Woman to Watch in Nevada." Summer Webb, Director of Business Development, American Estate & Trust, Las Vegas, Nevada Area and Virginia Toalepai Founder and CEO, Worldwide Safety. Seventeen years have flown by since we launched our website and announced our presence as the official Nevada State Women's Chamber of Commerce in 155 years. As we grow, it became very apparent that we were indeed Women in Power so we designed our own official chamber publication "Women in Power Business Magazine©" in every sense of the name. the official state chamber magazine is published quarterly with circulation in the United States, international, and abroad. Another exciting announcement is the development of our Executive Board for the Women in Power Business Magazine©. Since our inception, we have been supported by so many wonderful, influential women that we decided to bring them together in an official capacity. This meeting of the minds will provide us invaluable guidance as we bring our readers content and a true voice of Nevada women. The information will be available every quarter online and in print. Please take a look at the various companies who are supporting our women's business magazine, our Chamber members, and updates from myself as Founder, President, and CEO of The Women's Chamber of Commerce of Nevada,© on the importance of women supporting women. We want to thank our outstanding women Executive Board Members for their endless support, guidance, and insights. In our magazine issues and in our state chamber, the cover is reserved for national powerful women in high profile positions normally held by men. Inside are powerful Women in Nevada as well as powerful Young Professional Women. We are honored to have Maria Rios on our 2019 magazine issue. Maria Rios is the proud President and CEO of Nation Waste, Inc., the first female Hispanic-owned waste removal company in the United States. Maria's dedication to providing the highest caliber of customer service has allowed Nation Waste, Inc. to become one of Houston's largest minority-owned waste removal companies.
June L. Beland Publisher of WIPBM President and CEO Women's Chamber of Commerce of Nevada
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WOMEN IN POWER Business Magazine
Published by Women's Chamber of Commerce of Nevada© all rights reserved Executive Board June L. Beland Dolores Campuzano-Pignatello Berenice Church Cassandra Cotton Anita Laruy Patricia Lee Summer Clark Webb Rita Vaswani Publisher June L. Beland Editors & Proofreaders Kevin Fairchild Laura Fairchild Marie Scrofani Photographer Elite Photography Group Website & Social Media Stephani Ortiz of CAST Design Team Designed by A & D Designs, Inc. Printing Infinity Business Media Group Articles Susan Solovic Nevada Small Business Ghost Writer “Stress Advertising Sales Office Women's Chamber of Commerce of Nevada© 2300 W Sahara Ave, Financial Bldg. 8th Floor Las Vegas, NV 89102 Chamber Sales office – 702.733.3955 www.womenschamberofnevada.org Distribution Printed and Digital
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Subscriptions sold via Chamber website Disclaimer: The Women’s Chamber of Commerce of Nevada dba WCCNV ©, all rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher. WCCNV, the Publisher and its Affiliates have made every effort to ensure the accuracy of the information was correct at time of publication. WCCNV, the Publisher and its Affiliates do not assume and hereby disclaim any liability to any party or advertiser for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from accident, negligence, or any other cause. All articles are for informational purposes only and should not be relied on, or construed as legal advice and the views expressed are not necessarily those of the WCCNV Magazine. WCCNV Contact us at 2300 W Sahara Ave, 8th Fl.,Las Vegas, NV 89102. Ph: 702-733-3955
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TA B L E O F C O N T E N T S Cover Story pages 14-16
07] 14]
5 INFLUENTIAL WOMEN IN NEVADA
17]
POWERFUL YOUNG PROFESSIONAL WOMEN TO WATCH IN NEVADA
21]
DON'T DEPEND ON HOMEOWNER'S INSURANCE FOR YOUR HOME-BASED BUSINESS
22]
FAST FACTS ABOUT BUSINESS CREDIT CARDS
24]
TAKE YOUR STRESS LEVEL DOWN A NOTCH
MARIA RIOS President and CEO of Nation Waste, Inc. (NWI)
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WOMEN IN N E VA DA
2019
WOMEN’S CHAMBER OF COMMERCE of Nevada
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BERENICE CHURCH Vice President-Senior Relationship Manager Wells Fargo Bank N.A. Berenice Church is Vice President and Senior Relationship Manager for Wells Fargo in Las Vegas Nevada specializing in Commercial Real Estate Lending and Wholesale Banking. Berenice manages a portfolio of business banking relationships with local as well as Corporate business owners and strives to help them succeed financially by giving them guidance in their banking needs and other areas of finance by being their trusted advisor.
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Senior Financial Specialist with a Securities License, Vice President in Treasury Management, to Commercial Banking She has received numerous awards for being successful in her banking career. Berenice has been active board member of Life After Active Duty which helps retired veterans, and is an active member of CREW (Commercial Real Estate Women) Las Vegas, an active member of NAWBO (National Association of Women Business Owners), and an Executive Board Member for Women's Chamber of Commerce of Nevada as well as the Women's Chamber Legacy Board. Berenice has lived in Las Vegas since 1977 and volunteers her time as often as possible, with American Cancer Society, March of Dimes and many others. She holds an Associate of Arts with a business degree from the University of Phoenix.
Berenice has 25 years of banking experience in which she has a diverse background from Managing bank branches, being a
CORPORATE MEMBER Joe Coe | Director of Diversity | 702.792.7320 | diversitymatters@boydgaming.com
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DEBBIE BANKO
W O M E N IN N E VA DA Debbie Banko is the archetype entre preneur: a driven, dynamic, effective individual with an obsession for running and growing her business.
Entrepreneur, Link Technologies
five consecutive years.
Link Technologies started in 2000. From her dining room table, Debbie, a single mother with a few tools, a small book of business, and $10,000 startup capital, bootstrapped a humble business into the multimillion dollar enterprise she leads today. Link now has locations nationwide and puts hundreds of people to work every year.
Debbie has not kept success to herself. She is a regular volunteer and benefactor for charities and non-profit organizations in Nevada and nationwide. She supports many organizations that promote diversity and empowerment of women. Her company is a top-billed sponsor for Technology & Diversity for Charity's holiday gala every year. Debbie sits on the Governor's Workforce Investment Board for the State of Nevada, and chairs that board's Information Technology Sector Council. She is involved with the UNLV Technology Assessment Committee, a group established to advance early-stage technologies and engagement opportunities with UNLV. Recently, she founded CyberSmartNV, a non-profit that encourages women in IT and curates the latest and best in cybersecurity education for Nevada.
Debbie fosters a strong workplace culture and unique model for employee engagement. Unlike similar firms, Link does not offer recruiter commissions. This spirit of teamwork is rare in this traditionally cutthroat industry, leads to the better client and community relationships, and is a big part of why Link made the Inc. 5000 list of fastest-growing companies for
In short: Debbie Banko is a self-made woman who is generous in helping others, a visionary and difference maker in an otherwise traditional industry, a mother, grandmother, and compassionate person who is hard-nosed enough to make things happen. She has made a tremendous impact in Nevada and across the nation and garners endless respect.
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DEBRA MARCH Mayor, City of Henderson
Debra March was elected mayor of Henderson in April 2017 and assumed office June 20, 2017. Appointed as Councilwoman to serve in Ward II in July 2009, she was subsequently elected in 2011 and re-elected in 2015. Mayor March serves with her fellow council members as the legislative branch of the Henderson community. Her responsibilities include setting policies and making decisions concerning many aspects of local government for Nevada's second largest city, recognized as being one of the safest cities and best places to live in the nation. Mayor March is a strong advocate of economic development in Henderson and is working to attract new business, create
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jobs and diversify the local economy. She is focused on developing West Henderson, Union Village, and the redevelopment of the historic downtown and Lake Mead/Boulder Highway areas of the city. These efforts are designed to maintain Henderson's standing as a premier city in which to live, work, and enjoy award-winning parks, trails, and recreational opportunities. Mayor March maintains a strong focus on transparency and engaging with the community and maintaining an open dialogue on issues of importance to residents. Her monthly March On public events educate citizens about city programs and services and give them an opportunity to ask the Mayor questions and provide feedback in an open forum. Mayor March currently serves as vice chair of the Regional Transportation Commission (RTC) of Southern Nevada Board of Commissioners and as vice chair of the Clark County Regional Flood Control District Board of Directors. She is also a member of the Henderson Chamber of Commerce (HCC) Board of Directors.
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W O M E N IN N E VA DA Laura was born in a small town near Palm Springs and grew up with two brothers. At age eight moved to Ventura and then to Van Nuys, CA. She moved to Las Vegas in 1988 and went to work for The Valley Health Systems for 17 years, after 25 years in the medical field she wanted a change. Laura went to work for Storage West as a Manager and opened a brand new store.
LAURA FAIRCHILD Brand Ambassador, StorageWest, Las Vegas started earning her Gold Customer Service Awards from the LV Metro Chamber and the LVCVA and every award the company had. (Some two or three times) In 2012 she earned the Customer Service Award of the year. This led to an interview with a team of writers from England and France. Was then published in their book—a guide to Tourism and Customer Service. In 2008 Laura became the Lead Facility Training Manager for the Las Vegas district. In 2016, Laura was promoted to Community Relations and started the networking program for Storage West which lead the Southern Nevada region to “District of the Year” in 2017. In 2019, Laura was recently named Brand Ambassador for Las Vegas, Nevada region.
She took that store to more than 30% occupied within the first week. Customers just seemed to follow her. Laura became the Team Lead for Storage West soon after that. That first year
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TRICIA KEAN Weekday Anchor KTNV Ch 13 ABC
For 17 years, Tricia Kean has been a weekday anchor and a longtime advocate for consumers in Southern Nevada who have been ripped off or scammed. She cur rently anchors the 5:00, 6:00, 6:30 and 11:00 p.m. weekday editions of Action News. Tricia also heads up our popular Contact 13 Consumer Unit. Contact 13's Call for Action is the largest consumer unit in Souther n Nevada. Our volunteers recover over one million dollars a year for viewers who contact us through our hotline to solve problems. Tricia is a graduate of Arizona State University and came to Las Vegas from Los Angeles, where she was a general assignment reporter in her hometown at KCAL-TV. Tricia has anchored overnight national news for CBS News "Up to the Minute." She also worked as an anchor/reporter at
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WXIA-TV in Atlanta, Georgia, WSPA-TV in Spartanburg, South Carolina, WMAZ-TV in Macon, Georgia and KRTV in Great Falls, Montana. Tricia has two local Emmy awards to her credit. Tricia also has received numerous local awards for her work in the community over the past 17 years in Southern Nevada. She was named "A Woman Of Valor" by Temple Ner Tamid in Henderson. Tricia has done a lot of volunteer and community work. In addition, she is proud to host "The Hospy Awards" every year, which awards excellence in the Hospitality Industry. Tricia is known for landing exclusive interviews for some of the most influential people in the world and in Southern Nevada and Las Vegas including: Dr. Miriam Adelson, the wife of billionaire Sheldon Adelson of Sands Corporation, Steve and Elaine Wynn of Wynn Resorts, Frank and Lorenzo Fertitta of Station Casinos, and Tom Breitling, Founder of Travelscape and Former owner of the Legendary Golden Nugget.
MARIA RIOS President and CEO of Nation Waste, Inc. (NWI)
Maria Rios is the President and CEO of Nation Waste, Inc. (NWI), the ďŹ rst female Hispanic-owned waste removal company in United States history and one of the largest minority-owned companies in the state of Texas. NWI is a fully-certiďŹ ed, commercial waste disposal company specializing in construction, demolition, commercial/industrial non-hazardous waste removal, portable toilets and recycling services.
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In 2018, Rios launched a new division, Nation Safety Net, which leverages a technology solution powered by IBM Watson IoT. In the U.S. nearly 5,000 people died and approximately 27 million workdays are lost each year because of injuries in the workplace. To keep workers safe and mitigate the cost of workplace injuries, Nation Safety Net, in partnership with IBM, created an IoT solution that uses environmental sensors and wearable devices to identify potential dangers and to help employees avoid injury. In 2015 the International W o m e n ' s Entrepreneurial Challenge ( I W E C ) announced Rios as one of the top 2 7 w o m e n entrepreneurs in the world. Fortune named Rios as one of the 2013 Fortune Most Powerful Women Entrepreneurs in the U.S. Goldman Sachs honored Rios as one of its 100 Most Intriguing Entrepreneurs. In 2015 Rios and NWI were featured on CNBC's Blue Collar Millionaires, a docu-series profiling big personalities who have gained wealth "by getting their hands dirty…and rolling up their sleeves…with a can-do mindset." CNBC marketed the Rios episode as "The $30M empire built on trash.”
The same is true for our clients-especially in sectors like construction or oil and gas, where working in hazardous environments is part of everyday life. "Even with robust regulation and comprehensive training, accidents and injuries in the workplace still occur, and we need to take every opportunity to make the working environment safer. In addition to the human cost, injuries at work have a significant operational impact: reducing productivity, increasing insurance and litigation costs, and potentially causing reputational damage, too.” Maria Rios started thinking about how Nation Waste Inc. could help employees stay out of harm's way. If workers were prompted to take a break as soon as they start experiencing fatigue, heat exhaustion or dehydration, how much more productive might they become? If managers could track incidents and near-misses in real-time, how many broken bones could be avoided? If staff had direct access to emergency services hardwired into their uniform, how many lives could be saved each year?
Maria Rios is living the American dream, as she began her U.S. journey emigrating from El Salvador as a child. Her family came to the U.S. to pursue education and a better life. Through reliance on faith, a relentless work ethic, and determination, Rios graduated from Houston Community College and earned her BA from the University of Houston. An opportunity to save lives In many industries, the workplace can be a dangerous environment. In one year alone, 5,190 people died in the USA as a result of fatal work injuries, and more than 2.8 million workers suffered non-fatal injuries. In more than 800,000 cases, employees had to take time away from work to recover, with an average of eight days away from work per case. The facts and figures indicate the scale of the problem and allow us to extrapolate the cost to the economy-but the impact of workplace injuries on the lives of workers, their families and businesses cannot be quantified. The consequences of workplace injury are felt in every aspect of personal and professional lives and can be permanently life-changing for the people involved. Nation Waste, Inc., a Houston-based commercial waste disposal company, decided to take action. Maria Rios, the company's President, and CEO, elaborates: "We are acutely aware of the potentially adverse safety impact of dangerous substances, heavy machinery and hazardous objects. Safety is always on our minds.
MARIA RIOS
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MARIA RIOS To answer these questions, Nation Waste, Inc. set out to create a solution based around wearable sensors that could help monitor working conditions, detect accidents and near misses as they occur, and provide immediate feedback to help workers stay safe. The company needed a partner with the technology and expertise to transform this revolutionary idea into a reality.
the Internet of Things and also provides the advanced analytics and cognitive computing capabilities that enable the device to detect dangerous situations and notify wearers. "When the Nation Safety Net detects a hazard, it will alert employees via a vibration, alarm or flashing light, so they can act immediately," adds Maria Rios. "What's more, managers will be able to log into a dashboard via mobile or tablet devices and get a clear overview of the safety status of each worker, as well as receiving immediate notifications when an accident or an emergency occursstrengthening workplace safety.”
Maria Rios continues: "We knew that developing a wearable solution would not only help save lives but could also radically transform our business model, providing us with the opportunity to bring the first-of-a-kind product to the global market. We acted fast and started to look for a partner who could help us make the She continues: "IBM IoT Safer Workplace project come to life.” makes all of this possible. We deployed this solution because it could provide us "Fewer injuries will help our clients with the cognitive analytics capabilities mitigate the litigation and insurance costs that we needed to be able to transform associated with workplace injury-with Nation Safety Net from a collection of potential cost savings of around 60 i s o l a t e d s e n s o r s i n t o a s m a r t , percent. “ interconnected network that enhances -Maria Rios, President & CEO, Nation employee wellbeing. Waste, Inc. "Our alliance with IBM will help our To deliver its vision, Nation Waste Inc. clients transform the way they manage joined forces with IBM. The team is using workplace safety. IBM is a true champion the IBM IoT Safer Workplace solution to of small business and entrepreneurs and is develop the Nation Safety Net-a wearable supporting us every step of the way in the solution designed to help workers avoid development of Nation Safety Net. The injury. IBM team always goes the extra mile to help solve any issues we encounter." Maria Rios explains: "Nation Safety Net is a comprehensive hazard detection "With Nation Safety Net - powered by solution that can be easily incorporated IBM IoT Safer Workplace, our forecasts with a worker's uniform. The solution indicate that profit margins should contains a range of sensors, including an increase by at least 40 percent and accelerometer that measures employee revenues by 150 percent over the next five movement to help detect a fall or collision; years. " and heat sensors and heart rate monitors to -Maria Rios, President & CEO, Nation help spot overheating or fatigue. Waste, Inc. "These sensors are integrated with an algorithm that we are currently testing to detect and identify conditions that indicate a potential hazard, such as sudden vertical movements, high temperatures, unusual heartrates, an employee working without a hard hat, or an employee in an unsafe area.”
IBM IoT Safer Workplace is empowering Nation Waste, Inc. to develop a product that will help its clients reduce the frequency and severity of workplace injuries, while at the same time boosting productivity and creating new revenue streams.
Maria Rios says: "With IBM IoT Safer The IBM IoT Safer Workplace solution Workplace, we have been able to connects the Nation Safety Net sensors to accelerate our time to market dramatically
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and get even closer to a global launch date for Nation Safety Net-enabling us to put our innovative ideas into practice rapidly. We believe that Nation Safety Net will help to save many lives, so we are keen to get it online as quickly as possible.” As well as helping to reduce the number of cases of workplace injuries around the world, Nation Waste Inc. anticipates that the IoT solution could help diminish the severity of injuries, by giving employees the foresight to take the kind of splitsecond action that saves lives. Maria Rios comments: "If we can help people avoid injury and cultivate a culture of wellness in the workplace, we will enable businesses around the world and across sectors to make huge gains in productivity-a real win-win for both employees and businesses.” She adds: "Fewer injuries will help our clients mitigate the litigation and insurance costs associated with workplace injury-with potential cost savings of around 60 percent. We expect to start seeing these benefits ourselves as we roll out Nation Safety Net for our own employees, as well.” By helping to revolutionize the way companies keep their employees safe in the workplace, Nation Waste is opening up its business to new, global revenue streams, supporting continued growth for years to come. Maria Rios concludes: "IBM technology is empowering us to take business development to the next level and transform Nation Waste, Inc. into a company with a truly global reach. With Nation Safety Net powered by IBM IoT Safer Workplace, our forecasts indicate that profit margins should increase by at least 40 percent, and revenues by 150 percent over the next five years. This will strengthen our ability to keep investing in next-generation technology and help us continue to develop new ways to improve safety in the workplace."
Powerful Young Professional Women to Watch in Nevada
Summer Webb Director Of Business Development, American Estate & Trust, Las Vegas, Nevada Area
Real Estate, Customer Relationship activities, developing brand strategy and statistics systems. My experience working in a corporate/business focused environment has propelled my excellent negotiation skills, awarded me a proven track record of successful corporate mergers and increased revenue through the generation of leads and pitching for new business.
Brand development, web site traffic growth, web site UI and advertising revenue. Developed brand strategy and statistics systems, strategic consulting, including business plan & sales strategy development. Advising new businesses on formation of corporations and business structures, drafting privacy policies and structuring commercial transactions. Generated new development deals for real estate development companies that focuses on multi-family residential projects, including real-estate market analysis. Comprehensive database management and migration.
I have worked in four (4) major industries in the United States: Real Estate, Self-Directed IRA/401k Retirement, Collections, and Client Services. Within these industries, I have had the opportunity to learn human resource and sharpened my organizational skills, attention to detail and my ability to work with speed and accuracy. I have developed the flexibility, focus, and diplomacy such positions require. My natural talents include writing, aesthetics, analytical problem solving, logistical planning, research, and strong work ethic.
I have roughly ten (10) years of professional experience in management of strategic and operational Marketing,
I am personally passionate about the community. I volunteer in schools, churches and youth sports.
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Powerful Young Professional Women to Watch in Nevada
Virginia Toalepai Founder and CEO, Worldwide Safety Virginia has put together one of the most disciplined and successful teams in the safety consulting industry today, but she didn't' start out that way. She started out five years ago, a recently divorced mother of four young daughters, with $12 in her pocket and the idea that she could help make a difference. From those humble beginnings, she opened World Wide Safety (WWS), a safety subcontracting business, in August 2013. WWS assists general contractors, subcontractors, corporations and businesses of all sizes. It has become the largest safety consultation company in Nevada and one of the most successful construction consultation companies in the U.S., a multimillion-dollar operation with 30 employees,
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and services more than 150 companies and 10,000 workers in several states throughout the nation. With its corporate headquarters in Las Vegas, WWS also has offices in Salt Lake City, Phoenix, Palm Springs, and Livermore, California. When Virginia came up with her company name, she had the vision of being the biggest company there is and to be worldwide. She is passionate about educating her clients and assisting them with their safety health and goals. Toalepai is member of numerous organizations including the Nevada Contractors Association, Associated Builders and Contractors, Nevada Subcontractors Association, National Association of Minority Contractors, Souther n Nevada Home Builders Association, National Association of Safety Professionals, American Society of Safety Professionals, HomeAid Southern Nevada, National Association of Women Business Owners, Salt Lake Home Builders Association and Women's Chamber of Commerce of Nevada.
WomensChamberofNevada.org | 19
SUMMER ISSUE 2019
Business Magazine
Vol.17 No.3
PUT WOMEN IN POWER
www.womenschamberofnevada.org
in your advertising plan
2019 ATHENA International Awards NOMINATIONS OPEN From May 1 - July 15, 2019 Awards September 27, 2019 The Stirling Club
FEATURE ARTICLE MEET
Inuential Women In Nevada
16th Annual
SUMMER ISSUE 2019
Business Magazine
Scholarships for “At Risk” Students
2019 ATHENA International Awards
SEPTEMBER 27, 2019
NOMINATIONS OPEN
ATHENA AWARDS
Vol.17 No.3
www.womenschamberofnevada.org
From May 1 - July 15, 2019 Awards September 27, 2019 The Stirling Club
MEET Powerful Young Professional Women to Watch In Nevada
Reach over 500 High Profile Women’s Chamber of Commerce Members Reach 1.7 Million Chamber Members Nationally & Internationally
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Inuential Women In Nevada
16th Annual ATHENA AWARDS Scholarships for “At Risk” Students
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DON'T DEPEND ON HOMEOWNER'S INSURANCE FOR YOUR HOME-BASED BUSINESS
By Susan Solovic Here's a scenario for anyone running a home-based business: The UPS guy makes a business delivery to your house, but slips, falls and sues. Are you covered by your homeowner's or renter's insurance? You're probably not, and that's just one example of why owners of home-based businesses need to seriously consider their insurance needs. Business equipment and inventory losses beyond $2,500 will not be covered by the typical homeowner's policy should you suer a loss. In the same way, if you see clients at home and they suer an injury like our UPS guy did in the opening paragraph of this article, you'll need some kind of business coverage to protect you. WomensChamberofNevada.org | 21
Three levels of policy coverage Coverage options vary somewhat by state, but generally speaking you have three "upgrades" to select from, depending on your business and your exposure to risks. At the "bare bones" level, you may be eligible to get a rider on your homeowner's policy to cover equipment and inventory beyond $2,500, or whatever amount is included in your standard homeowner's policy. The Insurance Information Institute says that in some cases, you can bump that $2,500 up to $5,000 for as little as $25 per year. Overall, coverage can be increased to $10,000. In the same way, you can add a liability endorsement to your homeowner's policy that would cover our UPS guy, and a few other business visitors. However, adding the endorsement is limited to home-based businesses that receive very few visitors at home, like freelance writers. You need to check with your state to see how far you can push this before you need to go to the next step in this insurance progression. When adding riders and endorsements to your homeowner's policy won't cover the amount of equipment or inventory you keep in your home, or you need better liability coverage, there are in-home business policies available. Additional areas covered by these kinds of policies would include off-site property, loss of important documents, accounts receivable, and perhaps some loss of income if you suffer a disaster or fire that shuts you down. Further, these policies may cover a few employees you might have working at your home. They also give you broader liability coverage. Standard business owner's policy The top level of coverage is a standard business owner policy. This is really the same coverage a brick-and-mortar business would carry and delivers broader coverage than a policy written specifically for a home-based business. Along with everything you need to consider in order to purchase sufficient coverage for your home-based business, you also need to check your automobile insurance to see if you're covered while you're out driving for your business. Further, if you have employees, none of the policies mentioned here cover workers compensation, health or disability insurance. Susan Solovic, The Small Business Expert is an awardwinning entrepreneur, an attorney, a New York Times bestselling author, a media personality and a highly sought after keynote speaker. The information provided is presented for general informational purposes only and does not constitute tax, legal or business advice. Any views expressed in this article may not necessarily be those of Nevada State Bank or its affiliates.
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FAST FACTS ABOUT BUSINESS CREDIT CARDS by: www.nevadasmallbusiness.com
If you own or run a business, you probably have a business credit card. If you have good personal credit, it's not hard to get a company card, and it's a great way to keep personal and business expenses far apart.
If you haven't yet applied for a card for your business, here are some facts to know before starting the process. If you already have a card, they may help you make the best use of it and also maintain good credit for your company.
1. Eligibility for business credit starts with your personal credit. When you apply for your first company credit card your company doesn't have a payment history, which the lender could see as a risk. Lenders know that if your personal credit is messy, chances are your business spending habits will follow a similar pattern, so get your personal credit report cleaned up long before you apply for a company card. If you have high balances on lots of different cards, you may run into problems securing a company card with nothing to back it. At the very least, you'll probably pay a higher rate than an individual business owner with a clean, sharp credit history and a long history of on-time payments. Clean up personal credit accounts before applying for a company card to improve your chances of success.
6. Take advantage of card reporting. Make sure to track the credit card spending for yourself and for all personnel who carry company credit cards. Track spending closely with itemized statements. This saves time when balancing the books or filing taxes. Once again, talk to your business banker about different rates and terms. Know what you're signing on for and what your personal liabilities may be in the event of a catastrophic loss. When first navigating the business path you've chosen, work with a bank that delivers more than services. Work with a bank that solves business problems.
2. Business credit cards often come with higher spending limits. Small companies need credit to grow into big companies. Card issuers know this and are more likely to give your business a higher line of credit than your personal line, even though your personal payment history extends for years, while your company history goes back only a few months. 3. You may be liable for payment on company card charges. A lender - a credit card issuer - expects to be paid on time. If you max out the company card buying office furniture, you may not be able to handle your monthly payment using your business credit - especially if you're just starting out. That doesn't mean you're off the hook. Even though it's a company expense, if the company can't pay the monthly minimum, the business owner may be responsible for that month's payment. Read all terms and conditions before signing up for a company credit card. Business debt may end up in your home mail box - a surprise you don't need. With the help of your business banker, you can adjust your company's monthly payment due date to fit your needs. If your business receives a lot of payments from customers at the end of the month, set your due date for the end of the month to get the most leverage out of your company credit card. 4. Control spending and customize card use. Don't hand out company credit cards like candy. Work with your business banker to develop a company-wide plan that assigns spending limits to each card-carrying member of your business team. One employee may require a higher spending limit than another. Your business banker can help with the paperwork. 5. Choose a rewards card that delivers loyalty rewards you'll actually use. If you don't do a lot of business traveling, extra "fly miles" with each credit card purchase won't do you as much good as getting 1% cash back on all business purchases. That 1% doesn't sound like a lot, but it adds up over the months and years. Get the card the offers the rewards you'll use.
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TAKE YOUR STRESS LEVEL DOWN A NOTCH
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Stress was Mother Nature's way of putting humans' reflexes and senses on high alert in case a saber-toothed tiger was lurking around the corner. While saber-toothed tigers are now extinct, the stress reflex is still very much alive, especially in the world of small business. Stress is part of the small business owner's job description, from making payroll to making the next deal so you can make payroll. The problem? When you're stressed, you aren't at your best. You don't think clearly. You may act rashly and irrationally. Nobody thrives under pressure - at least not for long. Chronic stress is unhealthy, causing fatigue, free-floating anxiety, insomnia, depression, substance abuse - this is your health we're talking about. Stress is corrosive, affecting everything from your mood to your ability to engage a new client. However, here are some tips to manage stress on the job so you can be your best. Get organized and prioritize. What are your tasks, and in what order will they be completed most efficiently? That's your starting point. What absolutely has to be done and what can wait? You may get lucky and discover that there's not as much to do as you thought. Breathe a sigh of relief. On the other hand, you may discover that you have 14 things to do before lunch. Make lists of steps to complete the most urgent task. Estimate time involved. Then list steps for the second item on the to-do list. Recognize and mitigate sources of stress. Take a notebook with you throughout a week of work. Identify stress points in your work schedule. Client presentations. Hiring a new employee. A tax audit. A pile of back orders or receivables, seeking a business loan - take notes on how you spend your time and the stress level each activity generates. Delegate stressful chores to employees or out-source to those who can do the job better than you can. Focus on what you do best. Delegate the rest to people who do it better. Move. Sitting at a desk, hunched over a computer keyboard eight hours a day isn't what the human body was designed to do. It was designed to MOVE! Use your lunch break to get out and walk around the parking lot or office building. In 30 minutes you can get your heart rate elevated and relieve stress through the release of endorphins. If getting out isn't an option, do exercises throughout the day at your desk. There are lots of guides to show you how. Take the stairs instead of the elevator. Work standing up. When you move, you tend to relax. Look after your own health. Stress can be a killer, or at least it can slow you down by making you sick. • If you smoke, see your doctor or join a program to help you stop. • Cut down on caffeine. • Skip the empty calories in the breakroom vending machines. Switch to fruit.
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Take short breaks throughout each work day. Roll your neck. Roll your eyes. Rotate your shoulders. Use ergonomic tools like a desk chair with decent lumbar support or wrist rests to prevent carpel tunnel syndrome. Make sure you have enough light. Clean the company HVAC systems annually. If you're sick, stay home. Don't infect your co-workers with your germs.
Add walking to your routine. No gym. No hassles getting a tee time. You just strap on your walking shoes and hit the road. To stay motivated, track progress in number of miles or time you engage in this quality exercise. All you have to do is walk. Bring healthy foods from home. You'll save money and you'll eat more nutritious foods when you bring them from home. (This also leaves lunchbreak time for a quick walk around the parking lot to boost your energy reserves for the afternoon.) Get enough sleep. Recognize the signs of stress and plan accordingly. You know what buttons others push that create stress. Throughout the day, assess your stress level. If you're at a high stress level, do something that makes you more comfortable. Low level of stress? Tackle that big project. Be mindful of the impact you have on others. When we're stressed, we usually let others know one way or another. When you're stressed, others pick up on it and they become stressed. Manage stress to improve your health and performance, and the health and performance of the company team. Recognize and accept your personal and professional limitations. Delegate accordingly. You may be great at creative problem solving but lack the social skills used to close the next big deal. Or, you may be a visionary who can't find his glasses. Know your strengths and utilize them. Know your limitations and mitigate them. Take time off. Even a long weekend can rejuvenate you and lower stress levels. Sometimes you just have to get away from it all. If at all possible, leave your smart phone at home to totally disconnect from the stressors in your life. Learn to laugh at yourself. You aren't perfect. You will make mistakes. Accept it with humor. Don't take yourself too seriously. Make “at-work” friends, people you can talk to about personal matters with confidence. Workplace friends know what's going on, they know you and your situation. You don't have to explain anything. Your co-workers understand because it's their workplace, too. Stress isn't healthy over the long-term, and some people turn to medications to lower stress levels. Before you try to manage stress with meds, take a walk around the block. You'll be amazed at how good you'll feel afterward. The information provided is presented for general informational purposes only and does not constitute tax, legal or business advice.
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