The main difference between general liability vs professional liability insurance is the risks they cover. General liability insurance pays claims regarding property damage, physical harm, and advertising injury brought by third parties. Alternatively, professional liability, sometimes called errors & omissions, pays claims of financial loss caused by negligence, errors, and omissions when providing professional services….
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What is Call Handling? Definition, Cost, Features & Providers
Call handling features allow you to answer, route, and block incoming and outgoing calls. They are designed to help businesses better handle their call traffic, especially in sales environments where call volume exceeds the number of staff to handle them. They also provide the benefit of a more professional presence over the phone. If you…
SBA Microloans: What They Are & Who They’re Right For
The Small Business Administration (SBA) makes microloans of up to $50,000 available to small businesses through nonprofit lenders. Interest rates for SBA microloans range from 8% to 13%, with terms of up to six years. SBA microloans are available to startups and established businesses, and provide funding much faster than other SBA loans. What is…
What is IVR? Definition, Cost, Features & Providers
An interactive voice response (IVR) system is phone system software with automated voice menus that can route callers to their desired extensions without human assistance, by dialpad or voice. The technology helps companies better serve customers and also frees up staff, making it helpful for call centers and other departments with high call volumes. is…
Understanding Early Payment Discounts on Invoices
An early payment discount (also called a prompt payment or cash discount) is a reduction in an invoice balance when it’s paid before the due date. A common discount is 2/10 – net 30, which means buyers can earn a 2% discount by paying in 10 days. A $500 invoice would be discounted to $490….
Purchase Order Financing: What PO Financing Is & How It Works
Purchase order financing (PO financing) is an advance from a financing institution that pays your suppliers for goods you’re reselling or distributing to a customer. Purchase order funding requires a written purchase order. You can finance up to 100% of the purchase order costs, with typical rates falling between 1.15% and 6% per month. What…
New York Real Estate Continuing Education: Ultimate Guide 2019
Real estate professionals in New York must take 22.5 hours of continuing education courses every two years to renew their licenses. This includes three hours of fair housing or discrimination classes and at least one hour of agency law. Online New York real estate continuing education course packages generally cost between $100 and $150. If…
Sales Cycle: Definition & How to Optimize Your Sales Funnel
A sales cycle represents the repeatable process of turning a prospect into a customer. For B2B sales, most salespeople follow a common set of steps, such as “prospecting” or “lead qualifying.” Understanding this sales cycle can help your business improve performance, lower customer acquisition cost (CAC), and provide revenue predictability, among other benefits. Free Sales…
What Is a Scrum Board?
A Scrum board is a visual display that tracks projects in either a physical or virtual format. The board is divided into vertical categories showing the progress of a time-based project called a sprint, and events such as sprint planning, sprint retrospective, and the daily Scrum occur as part of managing the board. If you’re…
Auto Attendant: Definition, Cost, Features & Providers
An auto attendant phone system automatically greets and routes inbound calls to pre-specified extensions, phones, or voicemail boxes. Multi-level auto attendants also route calls to multiple locations or external phone numbers so mobile or personal phones function the same as a business phone. This technology gives your business a more professional phone presence. How an…
Cold Calling – A Beginner’s Guide for Small Business Owners
Cold calling is an essential sales activity that generates new customer revenue, helping your business grow. While some salespeople relish the chance to pick up the phone and win a new client, others find it challenging and frustrating. Here we demystify cold calling with simple step-by-step instructions to make your calling more successful. What Is…
Venture Capital: Definition, What It Is & Who It’s Right For
Venture capital focuses on funding startups with high growth potential in exchange for equity in the company. It’s a good option for startups needing $100,000 to over $25 million in funding to scale. To apply, you must find the right venture capital firm, pitch your company, and pass its due diligence process. What Is Venture…