FTT Means “Failure to Thrive”!

FTT stands for “failure to thrive”.  Basically, you are living a life without true purpose or meaning.  You are still able to live, but you are living without meaning or hope.  FTT can mean that you have a lack of emotional, mental, and spiritual vitality in your life.  In ancient times, “FTT” was called “acedia” which means “inability to delight in life and weariness of the soul”.  Jesus came to give life to the “walking dead” which were individuals who were “spiritually dead”.  If you reach out to God and build a personal relationship with Him, He will bring you back to life “spiritually”.  John 10:9-11, “v9 I am the door: by me if any man enter in, he shall be saved, and shall go in and out and find pasture. V10 The thief comes not, but to steal, and to kill, and to destroy: I am come that they might have life, and that they might have it more abundantly. V11 I am the good shepherd: the good shepherd gives his life for the sheep.”

Ep. 4:16, “In Jesus Christ the whole redeemed people ‘grow and build themselves up in love’”.  God wants you to flourish in life to encourage others, be a helping hand to others, and spread His gospel to the world.  God designed us not to be “spiritually dead”, but to be “spiritually alive” in every possible way.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013 and 2014. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  Services and products provided by Powerful Biz Woman are workshops: Entrepreneurship 101; How to Stay Out of Tax Trouble and Legal Trouble in Small Business; Start up 101; and Female Entrepreneurship 101.  Powerful Biz Woman provides books on the following topics: Entrepreneurship 101; Daily Devotionals for Entrepreneurs/Small Business Owners; Daily Devotionals for Female Entrepreneurs; Small Business Owner Tips; Powerful Biz Tips; and Inner Will Power to Make Your Dreams a Reality.  These books will be available starting September 5, 2015. Donya Zimmerman is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact Donya Zimmerman because she can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Be the Best Person, You are intended to be!

You have to be the best person God intended you to be.  You cannot spend your life trying to live up to the expectations of others.  God is shaping and molding you into the “best version” of yourself.  Romans 12:1, “…Present your bodies a living sacrifice, holy, acceptable unto God, which is your reasonable service”.  Romans 12:2, “And be not conformed to this world: but be ye transformed by the renewing of your mind, that ye may prove what is the good and acceptable, and perfect will of God”.  Sometimes you will disappoint people because you are not living up to their expectations.  The only person that can change you for the better is God.  God loves you so much that He works very hard to ensure that you become the “best you”.  God desires that His children live the best life ever.

God has no hidden agenda helping you become a better person.  People always have a “hidden agenda” when it comes to who they think you should be.  Romans 8:28, “In all things God works for the good of those who love Him”.  God is “renewing your mind” to bring out the best in you.  Remember that God does not make “junk”, He creates “masterpieces”.

Set it in your mind to become the “best you” ever made and molded by God.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013 and 2014. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  Services and products provided by Powerful Biz Woman are workshops: Entrepreneurship 101; How to Stay Out of Tax Trouble and Legal Trouble in Small Business; Start up 101; and Female Entrepreneurship 101.  Powerful Biz Woman provides books on the following topics: Entrepreneurship 101; Daily Devotionals for Entrepreneurs/Small Business Owners; Daily Devotionals for Female Entrepreneurs; Small Business Owner Tips; Powerful Biz Tips; and Inner Will Power to Make Your Dreams a Reality.  These books will be available starting September 5, 2015. Donya Zimmerman is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact Donya Zimmerman because she can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net  

Stop Comparing Yourself to Other Entrepreneurs!

As a female entrepreneur, you must step to the beat of God who gave you everything you needed to start your own business. Also, you must be willing to step to the beat of your own drum. As an entrepreneur, you are uniquely and wonderfully made to accomplish something that the “average” person would not dare dream of doing.  God has given each of us special gifts and we must use those gifts to bless others.  As an entrepreneur, you cannot settle for the ordinary or mediocrity because God created you for greatness.

One bad habit that female entrepreneurs have is that they continuously compare themselves to other female business owners.  Women business owners strongly believe that they must follow the “crowd” to succeed.  But, female entrepreneurs fail to realize that there is enough “pie” for everyone to have a piece.  To be a “true success” in small business, you must know what sets you apart from the competition.

You must understand that being the “oddball” is the best thing in small business.  Being the “oddball” gives you, as a small business owner, a great advantage over the competition because you are filling a need that has been ignored by others.  Stop comparing yourself to other entrepreneurs because if God wanted us all to be the same, He would have created us that way.

As a female entrepreneur, do not be afraid to embrace your uniqueness and your special niche.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013 and 2014. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  Services and products provided by Powerful Biz Woman are workshops: Entrepreneurship 101; How to Stay Out of Tax Trouble and Legal Trouble in Small Business; Start up 101; and Female Entrepreneurship 101.  Powerful Biz Woman provides books on the following topics: Entrepreneurship 101; Daily Devotionals for Entrepreneurs/Small Business Owners; Daily Devotionals for Female Entrepreneurs; Small Business Owner Tips; Powerful Biz Tips; and Inner Will Power to Make Your Dreams a Reality.  These books will be available starting September 5, 2015. Donya Zimmerman is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact Donya Zimmerman because she can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

These are the truest Christians I’ve ever heard

The core of God’s Word is love and forgiveness.

Mustard Seed Budget

How can the victims’ families forgive the confessed killer of nine blacks in an AME church in South Carolina. He tried to start a race war. It looks like he started a revival.

May all those filled with the sin of racism let the love of Jesus into their hearts. We whites have done hundreds of years of gravest crimes against blacks. It is our time to repent.

Martin Luther King Jr. knew that the love of Christ would prevail. I can only pray to God to have the sincere faith of these brothers and sisters in Christ who, in the moment of fresh pain, unreservedly forgive the killer of their loved ones and invite him to Christ.

(Originally, I tried unsuccessfully to a shorter embed video from the New York Times. Then I found it on YouTube. This video is a must-see for anyone curious about true Christianity.)

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Why Entrepreneurship Chose Me?

When I was sworn in as a licensed attorney in 2000 with the State of Maryland, I had no clue what I would do next or where I would work.  I had been sending my resume to various law firms for employment. But, I was unsuccessful in finding employment as an Associate Attorney with any law firm.  For the 100 resumes I sent out to various law firms, I was contacted only by ten law firms for an interview.

My mother stated to me, “Instead of, waiting for a law firm to hire you as an Associate Attorney.  You should start your own law practice.”  With that advice from my mother, I attended a workshop entitled “Before Hanging-Out Your Shingle”, which teaches new attorneys how to properly setup a solo practice.  The one setback of the workshop was that it did not properly prepare new attorneys for the “business” of running a law practice.  The workshop did teach new attorneys the importance of professional liability insurance.  The workshop clearly stated that an attorney must have professional liability insurance to protect them from lawsuits filed by disgruntle clients.

I was in private practice as an attorney for approximately ten years, before having to close my law practice.  I closed my law practice because of mismanagement, I had become very unhappy litigating cases in court, and lack of support from other solo practitioners (attorneys who had their own law practice). I officially closed my law practice in 2012 and I had to take a break from the workforce to figure out my next moves.

After much research I chose business consulting and mediation/conflict resolution.  I started to do research on what type of training I needed to become a business consultant and mediator.  I took training through Community Mediation of Prince George’s County, MD (CMPG) to become a certified mediator.  To become a certified business consultant I trained through the Women Entrepreneurs of Baltimore, Inc. (WEB), the Small Business and Technology Development Center (SBTDC), and the Small Business Administration (SBA).

I opened my new business, Family & Community Mediation and Business Consulting (FACMBC), on May 5, 2013.  I have been in operation for two years now.  The services that FACMBC offer to clients are mediation services and business consulting services to individuals, small businesses, and non-profit organizations.  FACMBC services are organized in four areas: mediation, business formation, and minority owned business certification completion, and workshops/training seminars for future business owners.

I took another amazing turn, as a second time entrepreneur, in 2014 when I was encouraged to write inspirational books by my business mentor.  It is important to have a mentor as a small business owner or entrepreneur because they can guide you on this path of entrepreneurship.  I started a subsidiary business, under the umbrella of FACMBC, on April 5, 2014 called Powerful Biz Woman.  With Powerful Biz Woman, the clientele are women between the ages of 35 years old to 65 years old, who are in the second phase of their lives and careers.  With Powerful Biz Woman, I am writing books to inspire entrepreneurs and telling my story to anyone who wants to hear it.  With Powerful Biz Woman, I have begun to do more public speaking on various platforms geared towards female entrepreneurs, startup companies, and non-profit organizations.  I never thought in my wildest dreams that I would be sharing my story of success, failure, and success again as a female entrepreneur.

I am having great success as an entrepreneur the second time around due to the following reasons:

• Completed a business plan;
• Created a good marketing plan for each aspect of the business;
• Created a good networking system of fellow entrepreneurs;
• Continue to take training on how to properly run a business;
• I always look for opportunities to reach my ideal customers through marketing and promotion of my business; and
• I am enjoying what I am doing as an entrepreneur.

I am so glad that entrepreneurship chose me and I would not have it any other way.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013 and 2014. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  Services and products provided by Powerful Biz Woman are workshops: Entrepreneurship 101; How to Stay Out of Tax Trouble and Legal Trouble in Small Business; Start up 101; and Female Entrepreneurship 101.  Powerful Biz Woman provides books on the following topics: Entrepreneurship 101; Daily Devotionals for Entrepreneurs/Small Business Owners; Daily Devotionals for Female Entrepreneurs; Small Business Owner Tips; Powerful Biz Tips; and Inner Will Power to Make Your Dreams a Reality.  These books will be available starting September 5, 2015. Donya Zimmerman is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact Donya Zimmerman because she can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

God rescued Jess from suicidal thoughts

God will get you through it.

Mustard Seed Budget

with her younger sister

She was beautiful, had talent, played soccer. She was a Christian.

But she was suicidal.

Even now Jess Trussell, 18, can’t fully explain the incongruence of possessing the joy of salvation but despairing over spiraling circumstances.

At the time, Jess was a sophomore in high school. Her family had just changed churches and she lost the support network of friends who were like family. Her parents had hit some rough patches in their marriage. She would come home after soccer practice to try to finish homework. Her grades were slipping. And her eyesight was growing worse.

“Everything that was important to me in my life was falling through my hands,” she says on her blog. It was a time of months of discouragement that seemed to drain into endless hopelessness.

The way out came at a Christian concert where God spoke to here. To pass…

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How to Create the Dream Team for the Family Business?

The family business needs to create the “dream team” for the business.  The “dream team” for the family business consists of:

• Accountant;
• Attorney;
• Insurance Agent;
• Bookkeeper;
• Business Coach;
• Banker; and
• Mentor.

Here are some important groups to have on the “dream team” for the family business:

• Board of Directors;
• Management Team;
• Human Resource Management;
• Legal Team; and
• Support Team.

The business owner, of course, is the first member of the “dream team” because they are ones who start, develop, run, and grow the business.  Also, your employees play a valuable role in the daily operation of the business because without your employees how can the business run and operate smoothly on a daily basis.  An attorney is an essential key player in any business because of the legal implications in operating a business.  An attorney’s role can be best described as “protector of your business” from legal implications or legal issues that may come up unexpectedly.  An attorney’s duties can include: 1. Review and draft of business contracts; 2. Ensure your business is properly set-up as a legal business entity (LLC, Inc., Corp, etc.); 3. Represent the business in legal matters; and 4. Ensures that everyone is abiding by all the local rules, laws, and regulations in the operation of the business.

An accountant is essential to the daily operation of your business because the accountant deals with the finances of the business.  An accountant ensures that your finances are in order and ensures that your taxes are in order to avoid tax trouble.  An accountant ensures that the business is not audited by the IRS.  An accountant ensures that you properly record your profits, losses, and expenses for your business.  But, one important thing to remember, do not relay on your accountant alone to handle your finances and taxes for your business.  Ensure that you continue to have first-hand knowledge of how your accountant is handling your finances.  An accountant normally deals with your money transactions that occurred throughout your business fiscal year.  Good way to have first-hand knowledge of how your accountant is handling your finances is by setting up a system that enables you to organize and record your business financials on a daily basis.

A bookkeeper is good to have in the daily operation of your business because they ensure that the business finances are in order.  The bookkeeper deals with the record keeping of the business finances on a daily basis.  A bookkeeper is good to ensure that all employees get paid on time, all debts owed to creditors are paid on a timely basis, ensures that all taxes owed are paid (payroll taxes, Medicare, social security taxes, FICA, withholding taxes, etc.), and all monies owed to the business are collected on a timely basis.  The bookkeeper works hand in hand with your accountant to ensure that all the profits, losses, and expenses regarding the business are properly recorded.  Also, you should have a good relationship with both the accountant and bookkeeper because they are assisting you with the business finances.

You should have a good relationship with your banker because they are ones who assist you with opening an account for the business.  A banker ensures that you have the correct banking tools needed to run the business smoothly.  Also, having a good relationship with the local bank will ensure that the family business can receive the loans, lines of credit, and other financial tools needed to keep the business afloat financially.

An insurance agent is good to have because the family business will need insurance to protect the business from all kinds of problems and issues that may come up.  An insurance agent ensures that the business has the proper insurance to protect the business assets, personal assets, and financial future of the business.

It is good to have a business mentor for the family business whose has had similar business as the family business. A mentor is there to provide you with sound advice regarding the business and to answer any questions about running a business when needed.  A mentor will connect you with the right people and organizations who can assist in the growth and prosperity of the business.  A mentor is there as a friend, counselor, and teacher for you to learn and grow from as a small business.

Remember to have that “dream team” together and ready when starting a business because they are there to ensure that the business is a success and not a failure.

The fifth article in the “How to Properly Set up a Family Business” Series.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  She is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact me because I can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; http://www.linkedin.com/in/dzbusconsultantandmediator

Image courtesy of renjith krishnan at FreeDigitalPhotos.net

How to Succeed: God is at Work within You! Part 2

Philippians 2:13, “God is working in you, giving you the desire and the power to do what pleases Him.” God is energizing you to do His will. God is giving you the power and desire to live life according to His commandments. God wants you to have the desire to do His Will. God has placed a calling on your life that He wants you to follow. God has created each child with special gifts and talents that He wants each of us to use to bring people to Him for salvation.

God dwells within each of us and He resides in our hearts. Without God in your heart, you can live your life, but it will not be the life you desire. If you live by the principles of God, you can live the most wonderful life ever. God motivates us to be better people and to love each other unconditionally.

It is better to have God dwell within you, so that you can live a faith filled life.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  She is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact me because I can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com; www.facebook.com/PowerfulBizWoman

Image courtesy of hadkhanong at FreeDigitalPhotos.net

How to Succeed: God is at Work within You!

Philippians 1:6, 9-11, “v6. God, who began the good work within you, will continue….until it is finally finished. V9. I pray that your love will overflow more and more, and that you will keep on growing in knowledge and understanding. V10. For I want you to understand what really matters, so that you may live pure and blameless lives until the day of Christ’s return. V11. May you always be filled with the fruit of your salvation- the righteous character produced in your life by Jesus Christ- for this will bring much glory and praise to God.”

You cannot do anything alone without assistance from God.  Whenever you try to do things on your own, you have difficulty doing so.  Also, trying to do everything alone can cause confusion in your life.  God will give you the tools and resources needed to complete His tasks.  It is always better to seek guidance from God before trying to do things on your own. With God you can accomplish many things and without Him you can’t.

God gives you the strength and power to get things done correctly. God will put the right people in your life to assist with His assigned tasks.  When you put God first in your life, no matter what is going on everything will be okay.  God will get you through the rough spots with flying colors. Allow God to work through you to ensure that you live a peaceful, prosperous, and happy life.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  She is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact me because I can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com; www.facebook.com/PowerfulBizWoman

Image courtesy of artur84 at FreeDigitalPhotos.net

How to Properly Insure a Family Business?

The family business should not just do a business plan or incorporate the business, but it is important to have the right insurance for the business.  It is good to have insurance for the business to protect it from possible disasters like:

• Natural disasters like fire and etc.
• Negligent acts committed by employees.
• Customers being injured on the business property.

With proper insurance, the family business can remain open and not be forced to close due to expensive lawsuits.  The business owner needs to ensure that they have the proper business insurance needed to operate the business in an efficient and effective manner.  There are many benefits to having insurance for one’s business.  Operating a business is very challenging without one having to worry about major financial loss or monetary loss due to unforeseen and unplanned circumstances.

Some ways insurance can protect one’s business from common losses experienced by small businesses:

1. Protection from property damage.
2. Business won’t be interrupted.
3. Will not have to deal with theft, personal liability, or employee injury.

Buying the right commercial insurance coverage certainly makes the difference between losing one’s business to a dissatisfied client in a lawsuit or recovering with minimal business interruption and financial impairment to the company’s operations.  Before buying any type of commercial insurance for the business, it is advisable to speak with an insurance agent to figure out which type of insurance will meet the needs of the business.

Here are some of the basic types of commercial insurance to consider for your small business:

1. Commercial Auto Insurance: This type of insurance is purchased to cover all vehicles that are used for business purposes and business operations.
2. Property Insurance: This type of insurance protects the business property from possible losses in any way.
3. Liability Insurance: This type of insurance protects the business assets and personal assets of the business owner from different types of liability.
4. Business Interruption and Continuation Insurance: This type of insurance provides coverage for business expenses associated with running a business, i.e. utility bills and payroll. This type of insurance comes into play when the business is out of operation for a long period of time due to fire or reasons beyond the owner’s control.
5. Professional Liability Insurance: Better known as Errors & Omissions insurance provides protection to the business for damages as a result of professional advisor, employee, or board member due to negligence or failure to use due diligence.

There are many other types of insurance coverage a family business should consider to purchase to protect their business.  So, please speak with your insurance agent to figure out the best commercial insurance coverage for the family business.

The fourth article in the “How to Properly Set up a Family Business” Series.

Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience.  Donya is also a public speaker and aspiring author.  She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals.  She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013. Services provided by FACMBC:  Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance.  She is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.

If you are thinking about starting your own small business or non-profit organization do not hesitate to contact me because I can show you how to do so. Contact information: dzimmerman36@gmail.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com; www.facebook.com/PowerfulBizWoman

Image courtesy of Stuart Miles at FreeDigitalPhotos.net