Awards & Engraving

December '16

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16 • A&E DECEMBER 2016 PEOPLE BUY FROM PEOPLE Sales & Marketing duces answers that convince you they are the one who will advise you with your success in mind and recommend sound business ethics. There may be a need for another type of lawyer in the future. Think about this aspect and be prepared to make a decision for the benefit of your business and you. • Banks(s) and Banker(s): I believe that every business, large or small, needs to have at least two banks and the bankers need to know about each other. Banks and bankers are in com- petition with each other; keep them competing to give us the advantages. Years ago I sent a payment to the wrong bank on purpose. The banker called me and said there must be a mistake. Then he started bending over backwards to get all of our business and he became very competitive. It has been my experience that if you can build a personal relationship with smaller banks, it can benefit you. • Accountant: Selecting an accountant is both important and personal. The accountant you select must have the knowledge to adapt their procedures to benefit your business by taking all the legal advantages for you and your business, but still be within the legal limits—you do not want to be challenged by the IRS. We want an accountant with high ethical stan- dards and practices. Keep in mind that the vast majority of small busi- ness owners channel their income through their personal tax schedule. This is one of the issues you should address when interviewing accoun- tants. There is a difference in accoun- tants just like attorneys, and when you are searching for one, their refer- ences might indicate their ability to parallel with your business. Take your time and build a relationship with an accountant. • Insurance Agent: This member of your team doesn't say Insurance Company, but Insurance Agent, because it is the individual not the company that can make a real difference to you and your business. A good insurance agent can be a valuable member of your Think Tank. They can adjust your coverage to be seasonal, thus saving you money if your inventory is flexible. A capable insurance agent can save you a lot of money with helping you on classifica- tions for workman's comp. Yet they should also be able to make sure that you are adequately covered without being over charged for double cov- erage or having too much coverage that you would not be able to collect from the face value of the policy in the event that you have a claim. Next month, we'll learn about People Buy from People, Focus Groups, Trade Education, Specializing Your Business, and Legally Setting Up Your Business. If you have any questions, feel free to call 1-317-546-9000 or e-mail me at or write me at Stephen L. Capper A-1 Awards, Inc. 2500 North Ritter Avenue Indianapolis, IN 46218 Stephen Capper, along with his wife, Nora, and their daughters, Jami and Toni, owns and operates A-1 Awards, Inc. in Indianapolis. He has been associated with the awards and rec- ognition industry since 1958, and has given numerous seminars since 1979. A&E

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