Table of Contents - October 2009

• Message from Kristie & Chrissi
• DBPR/CILB Changes
• Business Planning
• Important Dates
• Beating the Marketing Drum
• Classifieds

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Message from the Gals

It's hard to believe it's almost Halloween already...and then a whole string of holidays to come. Yep, we're already in 4th Quarter 2009. And that means it's time to start planning for 2010. Our guest writer today, Jeff Shointuch, gets you started with some thought-provoking questions.

DBPR and CILB have been implementing some changes. Nothing earth-shattering, but if you're applying for a new license or a change of status to your existing license, this is a great time to do it. Not only is DBPR moving quickly (about 2 weeks for our average application), but state fees are reduced, too.

We want to remind all of our clients and contacts about your responsibility as a license holder to know and uphold all the laws related to contracting. We attended the Electrical Board meeting in September and it was actually kind of scary to see how many contractors who'd been licensed for years didn't know the laws applicable to their licenses and businesses. The Boards don't let you plead ignorance of the law, either. The penalties can be life-altering - what would you do if they took your license away? So be sure to review the statutes and rules regarding your license and your contracting business on a regular basis to ensure you're operating and marketing legally.

Don't forget, contractors' license renewals are due next year, which means many of you will need to complete your Continuing Education classes. Our friends at Cam Tech (www.camtechschool.com) are taking pre-registrations now. You can also take online classes at www.redvector.com. Wherever you take them, be sure they are CILB approved courses! We'll be discussing these more in coming ETC issues.

We hope you enjoy this month's issue of ETC. Have an outstanding October!

Best regards,

Kristie & Chrissi

What's Going On...???

DBPR and CILB have been in the midst of making changes. Affecting everyone is the change to the Qualified Business aspect of the contractor's license. There has also been a change for those wishing to qualify an additional business and for those who already have a license and run into legal problems.

Qualified Business - The Qualified Business (QB) license has gone away, as of October 1 (http://www.myfloridalicense.com/dbpr/pro/cilb/documents/cilb_faq_qb_elimination.pdf). You still must qualify a business to be able to actively work with your contractor's license; there is just no longer a separate license number. A few results of this change:

• The Qualified Business now shows up in DBPR's system as "Construction Business Information." This allows consumers to know that a business is actually qualified.
• In the future, you will only need to renew your contractor's license.
• If you have an open application, you may see a "deficiency" that says "CHK VALID REL." All this means is that the reviewer is supposed to check the relationship between the business and the license before final approval. EVERYONE with an open application was issued this deficiency. There is nothing you need to do on your end. It's just a bug in their system that they'll hopefully resolve...sometime. This is NOT delaying approvals - we are still averaging about 2-3 weeks.
• For new applications (initial issuance or change of status), fees have dropped by $50-$59. (Remember, too, that initial issuance fees also dropped as of 9/1 by $100 because of where we are in the renewal cycle, so that's a significant savings if get your license NOW!).

Qualifying an Additional Business - The CILB has changed a rule for those of you wanting to qualify an additional business. It used to be that ALL of these applications required Board approval, which meant an appearance for the licensee at a Board meeting. Now, if the licensee owns at least 50% of both businesses, Board approval is not required. This can cut the cost and time investment significantly. Let us know if you'd like more information about qualifying an additional business entity.

Criminal Reporting - During the 2009 Legislative Session, the Florida Legislature passed House Bill 425, which became law on October 1, 2009.  Beginning October 1, 2009, House Bill 425 requires all licensees to report to the department within 30 days of being convicted or found guilty of, or having plead nolo contendere or guilty to a crime in any jurisdiction.  A licensee who fails to report that information, may be subject to disciplinary action, including fines, suspension or license revocation.

DBPR and CILB are frequently making changes. Count on us to keep you informed!

* Did You Know? *

We do FL Electrical Contractors' Licenses, Too!

Twelve Questions Every Business Owner Should Ask and Get Answered Today
Provided By: Jeffrey R. Schointuch
Northwestern Mutual Financial Network

As a business owner you have already engaged in some form of business planning, perhaps when you first started your business or were looking to expand. But all too often as a business owner, you are working so hard in the business that sometimes you fail to work on the business.

When was the last time you took a hard look at the business and yourself and asked “what if?” What if you died or became disabled? What if your key person left the company? Like it or not, you and your business are intertwined and an integrated approach is needed to ensure the financial security of both. Depending on your business situation, what follows are should-be-asked questions:

1. What would happen to the business and your family if you or a key employee died?
2. If you became disabled, could the business assure payment of business expenses?
3. What will happen to the business when you want to retire?
4. Are you able to recruit, retain, and reward key employees?
5. Do you provide an enhanced executive benefit program for select employees?
6. Do you provide a competitive and cost effective employee benefit program, including group benefits?
7. Are you providing for the long-term care needs for yourself and your employees?
8. Is your business funding your personal financial goals (i.e. retirement, college, etc.)?
9. Have you developed an investment strategy for your retirement plans?
10. Have you developed a plan to preserve your assets for the next generation?
11. Can you ensure credit for a business expansion?
12. Can you protect personally guaranteed corporate loans?

Asking the questions, though, is not enough. No business owner sets out to fail, but many fail to prepare beyond the business plan. To take your business to the next level, it’s important to select a financial professional to help you get the answers to these questions. Do they have an understanding of both your personal and business needs? Do they have a team of experts who can meet the many diverse needs of your business? Choosing the right person for the task is by far the most important decision you will make. Never be afraid to ask questions and clear any doubt you might have, as finally it’s all about you and your decisions.

Jeffrey R. Schointuch is a Financial Representative with Northwestern Mutual Financial Network. He can be reached at: Cell:(239) 273-6874 Office: (239) 566-5720 or Jeff.Schointuch@nmfn.com

Important Dates

• Next CILB meeting is November 11-13 in Orlando.
• Next exam dates are December 15-16. Deadline to register is November 13.
• Next Electrical Board meeting is November 19-20 in Tallahassee.
• Licenses, Etc. will be closed November 25-29 for the Thanksgiving holiday.

Beating the Marketing Drum

Along with regular business planning, this is also the time of year to plan your marketing strategy for next year. Some things to start thinking about:

• Does your website need to be updated? Search engines like sites with fresh content, so even if you don't do a full re-design, just updating your content can boost your search rankings. Of course, this is assuming you have a website. If you don't, that should be first on your list for 2010.
• What kind of budget do you need to set for 2010? Marketing is NOT the area to cut back when times are tough. After all, how do you get new business if you're not spreading the word?
• What organizations do you need to join, maintain membership or let go? Which ones have you continued your membership in just because you've always been a member, although they bring you no rewards? Which ones are most relevant to your business?
• What kind of public relations work will you do next year? PR includes volunteering, sponsoring charitable events and galas, hosting special promotions and getting the word out there via the media - newspapers, television news, radio interviews, etc.

What Our Clients Have to Say

We are so excited about the newest addition to our website: RatePoint. Thank you to all our clients who submitted a review of our company! We proudly boast that we have a perfect 5-star rating. If you'd like to write a review or see what our clients have to say, visit www.LicensesEtc.com and click on either of the RatePoint icons at the top of the home page.

Classifieds

Do you have books to sell? We sometimes get questions from callers about where they can find used books for their exams. We'd like to start a list so we can refer them to our clients who who'd like to recoup a portion of their costs. Please contact Kristie (239.777.8321) or Chrissi (239.777.1028) to get your name and number on the list.

Have something you want to sell? A position to fill? A need for a subcontractor?

Fine Print

Licenses, Etc., Inc.
Copyright Licenses, Etc, Inc., 2008, 2009
Have a question for the experts at Licenses, Etc.? Call Kristie at 239.777.8321 or Chrissi at 239.777.1028 or visit www.LicensesEtc.com

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