By: Shraga Jacobowitz
Congratulations! You’ve got your business all set up. You have an EIN, a growth plan, and an accountant. You’re driven by the passion that got you started down this road in the first place. You and your business are poised to hit the ground running to change your industry for the better.
You know where you’re going, and you’re prepared to get there. You finish checking off the last few boxes on the “starting a business” checklist.
- Hire employees to help achieve your dreams – check.
- Order coffee to keep your team productive – check.
- But wait, what’s this… Workers’ Comp Insurance?
Suddenly, you’re thrown into that world of technicalities involving exposure and loss runs. Your business is brand new and you don’t have any numbers to show, nor do you have proof of your company’s safety policies and a pristine performance history.
Enter the world of PEOs with ARC Consultants, where the stress of all these details melts away. When you co-employ with a PEO, the PEO’s established employer history can assist you in obtaining Workers’ Comp coverage in your “new employer” status.
Leave the technicalities of Workers’ Comp Insurance to your PEO, and get busy running your business. Get a Quote today.
Scanning the list of required documents to obtain Workers’ Comp Insurance, you see it there: for a new company, provide an owner’s bio.
You skim your resume and jump onto LinkedIn, looking for something appropriate. Yes, they both contain vital information about you, but is the insurance company looking to know how much you love rescuing dogs in your spare time? Do they want to know your myriad accomplishments since you entered the workforce at age 18?
You need to give the basics on yourself, your business, your vision, and how you will maintain safety in your workplace. Consider answering the following questions in writing to gather your thoughts.
Yourself (the owner):
- How long and in what capacity have you been in the industry?
- What courses or education have you taken to prepare you for this role?
- What specifically drove you to start your company/ What makes your company stand out?
- When did/will your company open or begin operations?
- Where does your company operate/service?
- State your company’s mission statement in a sentence or two.
- Provide a brief description of operations.
- Outline your company’s long-term goals to illustrate anticipated growth and evolution.
- Where does your company financial backing and funding come from?
- Acknowledge the importance of safety standards and procedures in your industry.
- Mention any safety or safety education programs or protocols that you have put in place or anticipate instituting.
After you have clarified the answers above, formulate the answers into your own owner’s bio. Here’s a sample written by our imaginary client, Aaron, of Pail and Shovel LLC:
Having grown up on the beach in Florida, I, Aaron Jones, recognize the importance of quality outdoor products for children and parents alike. After learning product design and mechanical engineering, I spent five years working for other companies. I feel uniquely equipped to branch out with my own product line to fill the void I noticed in the outdoor living industry.
Six months ago, I began plan designs for my unique weighted, weather-resistant outdoor living equipment. Having outsourced the manufacturing, the staff of Pail and Shovel LLC will be exclusively work-from-home office staff for sales to wholesale companies. Sales staff is in the process of being interviewed and I anticipate hiring soon to start active sales. My three investors and I look forward to expanding this operation to nationwide in-person sales as the company grows in the next few years.
As a business owner, my top priority is my employees’ safety and satisfaction with the company’s standards. I am currently taking a certified course on compliance with safety protocols and will be implementing all applicable programs as the company grows.
Put your completed owner’s bio onto your company’s letterhead, sign it, and you are all set.
Leave the rest in the hands of ARC PEO Consultants and get back to business.
Schedule a call now to learn how your life can get easier today