How to Increase Revenue in your Cleaning Services Company

 

multitasking

(This is a sponsored post provided by Mike Brown, CEO of Swept)

If you’re running a small to medium size commercial cleaning company, you’re likely juggling many tasks on a daily basis.

I know this because I ran a janitorial business myself, before founding Swept, a technology company that helps owners of commercial cleaning companies keep cleaners and win new contracts.

In my many years as a entrepreneur, I never thought-twice about multi-tasking. The nature of the janitorial industry meant I did it all day long, assuming it was the only way to keep up with the constant demands on my time.

But despite how well I juggled dozens of tasks on a daily basis, I felt like I was never really getting ahead. I was spending so much time putting out fires in my business I had no time left at the end of the day to focus on important levers like revenue and growth.

2018 – Important Regulatory Issues for Small Business

2018 (1)

Regulatory issues facing small business are ever changing and never as simple to understand as our lawmakers intend them to be. Small business owners are constantly juggling different priorities and it can be an almost sisyphean task to keep track of proposed new regulatory changes that impact their particular industries. CoverWallet, a platform that helps small businesses buy and manage commercial insurance, has created a list of four “new” issues that you may have missed, which likely affect you and/or your business in 2018.

Corporation or LLC? Which is Best Suitable For Your Business?

 

llcbiz

When you are thinking to incorporate, you may find yourself wondering which business type to choose. Someone may tell you that “Corporations are too complex. Just form an LLC.” or the other ones may tell you that  “Don’t form an LLC. Form a corporation.” With this confusion going in your head, you may need to get a clear understanding of your options. So let’s sort out your confusion by comparing both LLC and Corporation. But first, know what exactly is an LLC and Corporation.

What is an LLC?

A limited liability company (LLC) is a business structure in which the members of the company cannot be held personally liable for the company’s liabilities or debts. Limited liability companies are usually hybrid entities with the characteristics of both a corporation and a partnership or sole proprietorship. The main highlight of an LLC is the availability of flow-through taxation to the members of an LLC, which means that the profits and losses are directly passed through your personal income without facing corporate taxes. The members of an LLC are recognized as self-employed and are required to pay self-employment tax contributions towards Medicare and Social Security.

Improving Your Working Capital Through Financing

In today’s economy, your business needs nurturing and attention with sufficient cash flow to continue grow. In addition, you need consistent working capital to pay your ongoing expenses.

wc

Working capital, which is current assets minus current liabilities, needs to be positive or your business can be in serious trouble. A negative working capital is an experience that unfortunately many small businesses share, no matter what sector.  After all, there can be delays in customer payments, slow seasons, an unexpected downturn in the economy or many other events that leave you with a dearth of cash to pay your immediate bills.  Even if you will be swimming in cash in a few months, it doesn’t help you at the moment. In fact, lack of working capital is the most frequent reason cited for small business failures.

While you can try to improve your working capital by adjusting your business plans, renegotiating terms with creditors or trying to get customers to pay in a timelier manner, it may not be enough. You may need to consider getting financing. Fortunately, there are a lot of options, but you need to look into the choices in depth to determine the best solution for your situation.

CoverWallet Raises $18.5 Million to Expand Small Business Insurance Platform

In Good Company
CoverWallet is proud to announce that we 
raised an $18.5 million Series B financing round led by Foundation Capital, joining existing investors Union Square Ventures, Index Ventures, Two Sigma Ventures, CV Starr, Founder Collective and Highland Capital Partners. They’re some of the best and most prestigious venture capital firms in the world, and we’re pleased to call them partners.

So, what now? CoverWallet is going to use this funding to grow our team, expand our services and better our customer experience. 

Since we started, CoverWallet has been revolutionizing the business owner’s experience of understanding and buying commercial insurance. We’re excited to plow this new investment into further enhancements in that experience. If you’re the type of person who likes press releases, you can check it out here.

     –  “Soon enough, folks won’t even remember how offline and time-consuming dealing with business insurance used to be.”  – Rashmi Melgiri, Co-Founder of CoverWallet

     –  “We are very excited about the next few years. One thing I didn’t expect, is the personal satisfaction obtained from the social impact of insurance. In the last year, a few businesses that CoverWallet had insured were severely affected by natural disasters and had to shut down for multiple days. The insurance that we provided covered their loss of income. Without it, many small business owners and their families would have been out of business and lost everything that they had built over the years. When you can build a big business, reinvent a large industry with technology and help people, that’s beyond fulfilling”  – Inaki Berenguer, Co-Founder of CoverWallet

We are delighted to be a part of a growing group of companies to have received investments, from the same investors, such as Netflix, Dropbox, and Facebook. These name brands have made a lasting impact in each of their respective industries, positively changing the lives of millions of consumers, and we hope to do the same. In adding our name to that list, we know we have a lot to strive for, so if you’re an existing customer or are considering purchasing your insurance through us, just know, you’re in good company!

Ready to see what all the fuss is about? Click here to start an application and get free insurance quotes for your small business!

 

2017 CoverWallet Small Business Scholarship Winner – Julia Han

IMG_2189

Beach Bowls Acai Cafe

The CoverWallet Small Business Scholarship encourages entrepreneurship in students by asking them to take on the perspective of a local small business owner. Students share their perspective on the opportunities and challenges faced by a business in their community.

Student: Julia Han, University of Southern California 

Small Business: Beach Bowls Acai CAfe

The granola and acai berries collide upon the rough pink battlefield. Encapsulated in the war of crunchy vs. smooth, salty vs. sweet, the two armies intermix repetitively until they become indistinguishable before beginning the descent down the dark chasm into my stomach. The first bite of my Beach Bowls Acai Café experience was this delectable war of tastes, amalgamating into a single, gloriously refreshing sensation.

Foundational Tools To Jumpstart Your Small Business!

business-561387_640

Starting any business can seem daunting. There are many decisions to be made and sometimes it is difficult to prioritize where to start and what tools can be of most use to you as you are laying the foundation for your company. There is an overwhelming number of applications and tools to sift through in the search for that perfect fit in your pursuit of growth, revenue, or creation of a new product.

We at CoverWallet wanted to take a moment away from our regularly scheduled programming to offer our recommendations on a few products that not only helped us get off the ground but helped take us to the next level.