Small Business & Health Insurance: What You Need To Know

Health care is a layered and controversial subject. Most Americans rely on their place of business to provide for their medical care. However, health insurance is a difficult topic for small business owners. Many small business owners face the challenge of providing adequate and affordable health insurance to their employees.This is particularly difficult because small businesses are automatically charged higher rates than larger companies because they enroll so few people. The continually rising cost of healthcare makes the task of insuring employees particularly difficult for small businesses to handle.

For now, most small businesses are not required to offer health insurance, but there are insurance regulations in certain states. However, offering health care benefits will do more than keep up with regulations; it will attract new employees and help reduce turnover. Besides, many small businesses can seem like a second family to owners and employees alike. A caring business owner wants to provide for his or her employees as well as possible without going bankrupt. The key to providing health insurance is choosing the best type of policy possible.

States regulate health insurance providers, but there are federal laws protecting small businesses from discrimination. A provider, for example, may not deny coverage to a small business because of a health condition or illness of any employees or their dependents. The Employees Retirement Income Security Act of 1974 (ERISA) established federal regulations for self-insured health plans, should small business owners choose to insure themselves. However, most small businesses do not opt to self-insure.

Listening is the First Step to Gaining Trust

There are many steps involved when building a relationship of trust with your clients, but the first and most important step is simply to listen. When you listen attentively to the wants and needs of a customer, you establish a rapport, and they feel confident that they are dealing with someone who is truly interested in performing a good job or supplying a beneficial product.

During a conversation, it is important to give the customer your full attention. There may of course be many distractions, such as cell phone calls or other employees. If you allow yourself to become distracted, the customer will feel that you aren't really interested in them, but rather only the money they will bring you.

Ignore distraction to the best of your ability, engage the customer with maintained eye contact, and ask questions to better gauge what your customer wants if he isn't totally clear. A solid understanding of the problems your client faces and the solutions you can provide will improve the positive flow of your business relationship.

Follow Through on Your Commitments

You are trying to sell the client on your products or services by explaining tot hem that your product will deliver certain benefits or fulfill their needs. You are, in essence, making a commitment to deliver the solution to your customer's problems. You then need to follow-through and ensure that your products or services do in fact produce the results that were initially promised in order for future trust to be maintained.

Empty promises, misleading contract conditions, or results that are significantly less than what was promised will quickly diminish any trust the client had initially placed in you or your product. Future promises will generally be empty of value, and your integrity may be lost as well.

If there is an unforeseen problem that prevents you or your product from performing adequately, then apologize and explain to your client exactly what the problem might be. Being honest may help to save the trust and the relationship, and hopefully the problem can be rectified.

Honesty and Integrity

A client values a business relationship in which they can rely upon your honesty and integrity. Don't try to assure them that you can do something when you know you can't. You may be able to fool them for a short while, but they'll figure it out soon enough, and then your business relationship will be destroyed.

Realizing your limitations and explaining those limitations to the customer when necessary, accepting responsibility for your mistakes and attempting to rectify them, and working hard while maintaining a strong code of ethics will translate extremely well to your customers. These actions not only strengthen the bonds of trust, but also serve to increase respect and customer loyalty.

Remain Confident

Clients can sometimes test your abilities to the maximum and cause you to doubt yourself. When speaking with clients, you need to be aware of both how you speak and your body language. A client will be able to see if you are uncomfortable or unsure of something, and this behavior will cause them to doubt your abilities.

Doubting your own abilities or not standing behind your products is also a surefire way to quickly eliminate trust between you and your customers. If you can display suitable confidence and answer your client's questions accurately and honestly, not only will they trust you, but you'll also establish yourself as an expert in your field.

Secondary Factors

The above tips are primary factors in forging a relationship of trust between you and your clients. There are secondary factors that can further enhance your business relationships and make them rewarding for both sides.

It won't and shouldn't happen right away, but over time, you'll begin to learn more about your customers. If suitable, you can take your relationship beyond the business-level barriers. This doesn't necessarily mean that you must become friends with your clients, but treating them with a mutual respect, asking about their family, showing genuine sincerity, and thanking them for their business all contribute to ensuring a long-lasting business relationship.

Following up with your customers is also a valuable component to both you and the customer. For the customer, it leaves the impression that you aren't the type to simply take the money and run, and for you, it serves to give you a better understanding of whether the customer's needs were met sufficiently, and if not, what you can do in the future to provide a better product or level of service.

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