Summary of Interview with Jackie McAlister

On my weekly radio show, The Dark Side of the Moon, which airs on Thursdays, 3PM ET and can be heard by logging onto www.blogtalkradio.com/michael-ferreira, I had the privilege of interviewing Jackie McAlister, co-founder of the Cup and Saucer Cookie Company.
Jackie's mother, also named Jackie, a retired schoolteacher had seen her retirement savings dwindle due to the drop in the stock market in 2008. Determined not to let her mother spend countless hours on her feet, making minimal wage, Jackie and her mom identified one thing they both enjoyed and could do together. Bake cookies!!
What was interesting and fascinating at the same time was the preparatory work work Jackie did BEFORE she purchased a single ingredient. First, she researched the laws in her home state. She discovered that she could not sell her baked goods commercially unless they were made in a commercial kitchen. She researched the type of legal entity she and her mother should incorporate. She investigated how to build a website and begin to display her products for sale.
Jackie will be the first to admit she has a lot of learning yet to go. Her marketing plan needs a boost and she is toying with the idea of social media marketing.
Yet the key take-away is the straight-forward approach she has taken. She identified key major risks and then set forth plans to overcome them.
I plan to have Jackie return to the show in about 6 months so we can compare and contrast the additional lessons she has learned. No one can doubt her persistence and energy.
Jackie admits to learning several valuable lessons which this writer believes will influence her role as a mother an educator.
You can view and purchase these delicious cookies on www.cupandsaucercookieco.com

ADVERTISING-WHAT'S THE RISK?

You should be aware that most Comprehensive General Liability forms include coverage for Personal Injury and Advertising Injury liability. Below is a definition and sample claim scenario related to Advertising. In my next post, I will address "Personal Injury".
ADVERTISING INJURY LIABILITY
"Advertising Injury" means injury rising out of an offense committed in the course of your advertising activities, if such injury rises out of libel, slander, defamation, violation of right of privacy, piracy, unfair competition or infringement of copyright, title or slogan.
COULD THIS BE YOU??
Willie Widget and several of his colleagues began a start-up company, Willie Widgets, Inc.(WW). WW makes widgets in a market sector populated by a handful of competitors. Willie and his engineers who design the widgets all worked together at a competing firm.
WW later implements a broad campaign to launch its new product, the Wonder Widget. A WW competitor is impressed with the Wizard advertising and notes that some of the functions of the product closely resembles theirs. The competing firm sues WW for piracy, copyright, and trademark infringement.
QUESTIONS
What if this scenario happened to your business? Have you secured the correct coverage?
If you are in the Advertising business, you should have a professional liability policy in-force. Professional media firms will not find coverage for their business activities under the commercial general liability form.
What if you only provide advice? Consultants who advertise their expertise and knowledge are subject to the same exposures as a firm that sells tangible products.
Make sure your business risk assessment is broad and comprehensive.
Discover the "not-so-obvious"!!!!

THE RELUCTANT ENTREPRENEUR

From interviews and discussions I have enjoyed with people across this nation, my intuition told me that many out of work Americans were becoming entrepreneurs, albeit reluctantly.
This article is about the reluctant entrepreneur. The person who has worked in the corporate world and now finds themselves out of work and little hope of returning to the corporate world anytime soon.

The statistics are impressive. Lots of people entering self-employment and lots of failures. Amongst the number are the success stories.

I urge you to read this article and hope you receive the same adrenaline rush as I did.

What If?? - Unable to Work

Jennifer and Ellen are partners, operating a physical therapy business, specializing in the care of children. Their practice enjoys a great location and is looked upon favorably by the local school board who makes continuous referrals.
The business is growing and the partners are beginning to realize their dreams.
Without warning, Jennifer is stricken ill. After several consultations, her physician advises her that she will not be able to continue to fulfill her occupation until she has undergone treatment. Her physician estimates that the treatment and recovery will last at least 18 months.
Issues
Will the business survive?
Will the local school board continue to refer children to the practice?
How will Jennifer earn income if she is unable to work?
How will the business generate enough funds to pay for normal monthly expenses such as, rent, utilities, etc.?
There is a happy ending to this story. The partners had discussed and planned for such an event. Realizing that this risk could devastate their business, they had their business purchase BUSINESS OVERHEAD EXPENSE COVERAGE.
As a small business owner, the continuation of your business is dependent on your ability to fulfill your occupational duties. Visit my website: for your FREE initial consultation today!!

What If-Life On the Dark Side of the Moon

17.5 million Americans out of work. The nationwide unemployment rate hovers around 10%. Businesses have cut payrolls and inventories to match the decline in revenue as a result of lower demand for product and services. Individuals and families are working diligently to strengthen their balance sheets by reducing debt, increasing savings and consuming less.
As each day goes by, the unemployed begin to realize that the likelihood of their re-joining the corporate workforce is unlikely. Unemployment benefits will begin to run out. The responsibility for providing and procuring benefits such as health, life insurance, disability protection and retirement savings is shifted from the employer to the unemployed.
As a result, many of the unemployed are becoming entrepreneurs. Clearly, they do not want to nor have they planned for such a dramatic event. To fund their business, they draw upon retirement funds, savings, borrow against cash-values of life insurance policies, sell assets, or borrow money from lenders, credit cards or friends and family. Success of the business becomes critical.
The Internet has lowered the barrier to entry to starting a business. However, entrepreneurs quickly learn that their skill or knowledge will not sell itself. Most have to learn how to sell or market or procure services to help them run their business. That is why I am building relationships with business coaches, mentors and consultants. These highly trained professionals provide the necessary tools to help any start-up believe they can be successful.
This blog is dedicated to my fellow entrepreneurs who are in the midst of or seriously considering the transition from being a corporate employee to self-employment. Henceforth, each posting will be a story (most are true). The story will illustrate a risk that is probably relevant to your business.
As your awareness of risk increases, you will realize that you have the power to implement risk management strategies to address these risks. I will work with you and guide you through the various solutions, building a customized product or service to meet your needs and budget.
After all, you may be risking everything you own or have. Shouldn't you take advantage of the opportunity to protect your business so you have a reasonable chance of growing it??

Interview with SolopreneursGuide

Here is my interview with Doug Dolan

Is It Covered?????

You have devoted time, effort and capital to starting your business. Business plans have been developed, endless networking activities, career coaches have given you self-confidence. Credit lines have been drawn, bank accounts emptied and family and friends have made contributions. Competitors have been studied, you have a marketing plan complete with advertising using established and new media channels.
You draw upon your experience and knowledge and begin to write copy. You carefully edit your written words, making sure that the message is correct and there are no spelling or grammatical errors.
You publish your copy on your website, blog and any other media source you believe will drive business for you. The result: you generate leads which turn to sales and you are on your way!!!
Your business begins to grow, you write more copy to fuel this growth. Sales climb, visitors to your site grow and then it happens!!
You receive a letter in the mail from some law firm you do not recognize accusing you of inappropriate use of advertising ideas, demanding you immediately cease your efforts and demanding cash compensation.
Sounds absurd? Perhaps, but the reality is that this scenario is played out everyday. In future posts, we will review actual claims and circumstances which will lead you to ask: Is It Covered????
Visit my website: www.mfrisksolutions.com for the answer