Commercial insurance isn't just about ticking boxes; it's about safeguarding your business's future. This week on "Small Business, Big World," we sit down with Derek Stevenson from Varney Insurance to dissect the essential types of coverage every small business needs and mistakes that they make. From general liability and property insurance to workers' compensation and EPLI, Derek provides a comprehensive guide to securing your business against unforeseen setbacks.

Derek and I discuss the often-overlooked exclusions in property insurance policies that could leave your business vulnerable. As our world becomes increasingly digital, we uncover how this shift impacts insurance underwriting and risk assessment, offering practical advice for staying ahead. Cybersecurity is no longer optional; it's a necessity.

In this episode, we offer actionable tips for business owners to safeguard your operations. This is one not to miss!

Let's talk cash flow and entrepreneurial growth with our guest, Doug Spurling, founder of Waves and Wilderness and Spurling Fitness. In this episode of "Small Business Big World," Doug takes us through his journey from building Spurling Fitness to venturing into consulting and real estate investment. Learn about some strategies of managing cash flow and increasing net worth, and discover why it’s essential to work on your business rather than just in it.

Doug shares insights on scaling a business, shifting from a doer to a manager, and the importance of sales, marketing, and team development. Then, Doug talks about his personal experience of turning a lake house into a successful Airbnb venture, emphasizing planning for the future and using your business cash flow adequately. This episode is packed with practical tips to help you manage and grow your net worth effectively.

Paper Trails was recently ranked on FeedSpot's list of the Top 100 Small Business Podcasts!

Get ready to talk small business ownership with Pat Brady, an attorney at Bergen Parkinson and a small business owner in Maine. Have you ever wondered how to find the perfect business to buy or what steps are involved in making it legally yours? We'll guide you through online platforms and dive into the importance of industry relationships and succession planning. Pat shares his firsthand experiences acquiring small businesses, offering invaluable insights and practical tips for aspiring business owners.

Forming a legal entity for your new venture doesn't have to be scary. Learn about the role of a Letter of Intent (LOI) in setting the groundwork for your purchase, and discover why an LLC might be the best choice for your business structure. Pat emphasizes the flexibility and liability protection LLCs offer, especially compared to corporations and sole proprietorships. We also explore the strategic benefits of setting up multiple LLCs, particularly for real estate investments, and the essential elements of an operating agreement to keep your business running smoothly.

This is a great episode for anyone looking into buying and/or selling a small business.