We have been searching for a strategic partner for quite some time however have found it hard to get the right fit. We first came across Liability and General Insurance Brokers Ltd through a very positive recommendation from a mutual acquaintance. After undertaking further research, we found that Liability and General Insurance Brokers Ltd would be a perfect partner that would be able to offer the high standards of customer service and expert insight that HC Prospects pride themselves on. Not only this, Liability and General Insurance Brokers Ltd’s track record in being able to find strategic savings for their customers was very impressive, with an average saving of circa 20% on commercial insurances.
HC Prospects director, Declan Carrington stated ‘ Liability and General Insurance Brokers Ltd are a fantastic company that prove how good they are through their actions and not their words. Their level of expertise and attention to details is what set them apart from their competitors. ’
‘ It is through this expertise and attention to detail that they are able to provide elevated levels of savings as seen across their portfolio. We are grateful to be able work alongside such a great company and have full confidence in them to look after our customers’ .
The partnership will entail the two companies working closely to provide customers with those much-needed savings on commercial insurances.
customer of yours is wanting an hour of your time and for this they will give
you £5,000. There are no additional output costs for the customer so the only
expense is your time. Sounds like a fantastic customer, doesn’t it? This is the
opportunity that a lot of companies are missing out on. These opportunities are
Savings made are profits made
By lowering costs, you are in fact increasing your bottom line which is exactly the same as if you were to increase revenue. Unfortunately, the same amount of importance is not usually given to this area. When a supplier states it can save you £5,000, think of it more as a customer giving you £5,000. The same thing will happen to your bottom line, so why not look at them the same?
Weigh up the additional value to your business and the time you will need to spend on it, the same as you would a customer. How much time will you need, and how much can you save? If the time required is disproportionate to the savings, then it will not be worth it if it is then this is basically one of the easiest customers you will ever have.
Treat savings with a similar amount of attention as you would a customer. Would you make a customer wait weeks to get hold of you for a 5-minute conversation that could be worth £500 to you, most probably not? However, you find that this is what several business owners do with suppliers that can save them money, as they believe it is not urgent. It should be urgent, not for the supplier’s sake but for the company’s sake. Every month that you are paying those higher bills is another month where you are losing out on profits.
Subscription based customers
Another great aspect about savings is that they are usually recurring. Improving cash flow month after month, not just on one off occasions. It is reliable source to increase your bottom line, just as a customer who is paying a subscription service, however, savings are a customer you do not need to provide for.
Would you miss out on an opportunity for such an amazing customer?
We would not by any means state that all solicitors are overcharging their clients, in fact solicitors are fantastic people who can be very useful in times of need.
We do however believe that consumers should be aware of situations that might indicate overcharging. This blog is aimed at people who want to ask the question ‘ how do I tell if I am being overcharged by my solicitor?'.
1. Estimates – It is good practice that a solicitor provide a detailed estimate of works to be undertaken to their potential client. If you have not received this or have only been given a high-level estimate that is not very detailed, this could be a warning sign of future overcharging.
It is worth asking for an itemised estimate before you agree to go ahead with any legal work, as this will also be a good point of reference for when you receive your final bill. Failure to provide detailed estimates is an indication that there is little control of costs or focus in ensuring value for money to the client.
2. Interim bills - Unless there is an expressed agreement within the contract or retainer for the solicitor to submit interim invoices, the solicitor is only entitled (and only then in respect of contentious business) to request reasonable payments on account of work done and a reasonable amount for future costs.
Solicitors will often attempt to argue that bills sent during the course of the case cannot be challenged but that is not necessarily right. These interim invoices do not represent a final figure and therefore can still be challenged. A typical example of this is “ work undertaken on X in January 2017 ”
3. Surprisingly high bill – This may seem straight forward however, it’s hard for a usual client to establish if a bill is classed as surprisingly high. If after questioning the amount on the bill with the given solicitor they drop the cost, this may be an indication of overcharging in other areas.
4. Bill / Invoice format - It is good practice to agree with your solicitor when you instruct them that any bills they provide should be itemised. This allows you to check the level of your fees quickly and easily. This information is usually recorded on case management software so is available at the press of a button.
5. Right to challenge fees - A solicitor is required to advise you of how you can challenge your legal fees via the Legal Ombudsman or via assessment by the Court under the Solicitors Act 1974. Your solicitor should take the time to clearly explain this to you and the time limits for challenging your fees. If your solicitor has not discussed this with you or quickly brushed over your right to challenge their fees this can indicate that your solicitor is charging you unreasonably for the services they provide.
What to do if you believe you are being overcharged?
If you are curious as to whether your solicitor has overcharged you or not, please contact us at HC Prospects Ltd. We will arrange for an expert to contact you to establish if they believe there is a claim, they will also advise you on a way forward. This is a free, confidential service which we provide to our customers. If the expert believes there is a case to move forward with, all costs for this will be gathered from the overcharging solicitor, with no costs incurred by the customer directly.
We’ve all been
there – wondering how quickly 5.30pm comes around and how little we’ve achieved
during the working day.
So, what can we do to improve time management in the office and make ourselves more productive?
Here are some top tips:
Organise Your To-Do List
Get your to-dos down on paper. Keep a notepad or note-taking application handy to jot down everything you have to do as each occurs to you. Then, organise your to-dos by type and use a different paper or digital folder for each such as “follow up on” or “people to contact” or “to read”.
Finally, schedule it. Put each item on your calendar. Commit the right amount of time on a specific day to each task and you’ll actually be able to check them off. Just make sure you’re not making lists instead of tackling other responsibilities.
Attack One Type of Action at a Time
Flitting from making phone calls, to writing proposals, to answering emails is less than productive. Each type of action requires your brain to switch gears, stop, then start again on the new task. Try completing the same types of tasks before moving to the next.
Make your phone calls, then answer emails, then write proposals. You’ll likely save time and increase your productivity
You probably won’t be able to eliminate all interruptions. People still need your time and attention through the day and you have to respond to a crisis or unexpected need for an immediate decision. But you can “train” others to give you the time you need to get your work done. Don’t hesitate to block out time not to be disturbed. Let your phone go to voice mail. Turn off your email notification and instant messaging. And unless you need to be on social media for your job, schedule a short block of time for social networks – and stay off them otherwise.
Plan For – and Take – Breaks
It’s important to relax throughout your day. You’ll actually return recharged and more productive. Why not let that block of social media time become one of the day’s scheduled breaks?
And be flexible. You don’t need to handle each new task as it comes in. Save up several routine, non-deadline-driven items to tackle all at once and you’ll have more time to accomplish the big things.
It’s easy to let communication slide when you’re focusing on time management.
But don’t forget to check in with others. Get in the habit of asking yourself if whatever you’re doing is the best use of your time. If not – shift to something else. Start recording your thoughts, conversations and activities so you can get an idea of exactly how much of your day you spend on each. Schedule time to communicate with others on high-priority tasks and projects.
In many situations business managers are too busy to go back to the basics of how profit is made.
Taking it back to its simplest form, profit is made by taking your revenue minus your expenses and tax liabilities. If you were to put this into an equation it would be:
Revenue – (Expenses + Tax Liabilities) = Profit.
It is important to go back to this basic level, as business managers often concentrate on generating revenue, focusing less on reducing and keeping their expenses and tax liabilities as low as possible.
As identified in the equation above, expenses and tax liabilities are just as significant as generating revenue to increase profits. Keeping expenses and tax liabilities as low as possible, allows the generation of revenue to have a direct effect on profits made.
However, this is seldom the case, many business managers believe that their expenses should only be looked at once a year, when in fact it is good practice to regularly review expenditure. If constant monitoring is taking place, the saving effects are maximized, which will increase profits.
Markets are constantly developing and changing, resulting in market prices changing with them. It is always helpful to have a market expert at hand to make sure that you are getting a fair deal in line with the current market prices. It also helps to know you have covered off all the tax relief you are entitled to. In some circumstances accountants, may not be aware of the different forms of tax relief available, as legislation and government incentives are changing all the time.
Hence, it is advisable to keep your ear to the ground to make sure you are not missing out on any unforeseen opportunities.
To find out more get in touch today. http://hcprospects.co.uk/contact