Overview

Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for the tort of negligence. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain". One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that, and thus to ensure security of compensation to the workers. Individual immunity is the necessary corollary to collective liability.

While plans differ among jurisdictions, provision can be made for weekly payments in place of wages (functioning in this case as a form of disability insurance), compensation for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form of health insurance), and benefits payable to the dependents of workers killed during employment.

General damage for pain and suffering, and punitive damages for employer negligence, are generally not available in workers' compensation plans, and negligence is generally not an issue in the case. These laws were first enacted in Europe and Oceania, with the United States following shortly thereafter.

What You Will Be Doing

A workers’ compensation consultant is an outside contractor who works with companies to reduce the incidence of workers’ compensation claims, find better rates, and discover innovative ways to save money. You will investigate the circumstances of the manner in which the employer deals with these problems. You might even administer the claims process for a period of time, instead of having a company employee do it. Typical strategies to reduce claims include: (1) investigating the claim thoroughly to determine whether it is indeed valid; (2) conducting regular reviews of workers’ compensation benefits packages; and (3) recommending changes in the workplace to reduce injuries. The bottom line is, your nose for trouble can prevent a company from being taken advantage of—either by invalid claims or higher-than-ever rates.

Qualifications/Skills Needed 

This is quite a lively field. To establish your business you will probably need the experience gained from having been a workers’ compensation specialist for an employer or at least another consulting firm. If you show that you can conduct excellent investigations, write effective reports, and make productive recommendations for improvements in processes, you can build a very successful enterprise. You will not be everyone’s favorite person as you uncover cheaters, but you will be improving your clients’ bottom line.

Startup Cost/Unusual Expenses

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Other/Ongoing Expenses

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What You Can Charge/Earn

Most disability consultants work on a retainer, typically $1,500 to $3,000 per month.

Other Services You Can Offer

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How you Can Succeed

Most businesses spent time attracting customers to a product or service, trying to win their trust and then ending the whole process with a sale. That tactic seems obvious to most people. What often is neglected is the post-sale follow up with customers, particularly when it comes to online businesses. We should look at the time after a sale as an opportunity not only to improve our products but also to establish long-lasting relationships with our customers.

It takes much more effort to win a new customer than to maintain a relationship with an existing customer. But maintaining current customer relationships is just as critical and Id even dare to say, more important than gaining new customers. What can we do to keep our established customers feel appreciated? You need to follow up with your customers.

Following up may be as simple as writing an email or giving a phone call to a customer a few weeks after a sale.

Does this take time? It sure does. Is it worth it? Absolutely! Not only does this allow us to get good feedback from customers in order to improve our software, but also it establishes a more solid, long-lasting relationship that goes beyond the point-of-sale.

Most people were surprised that I would be willing spend the time to talk with them and were touched by the personal attention they received. And I was also surprised at how uncommon it was for online businesses to follow up on their customers. Some of the typical comments that I have received as the result of my efforts include:

I really appreciate the personal touch, vs. the usual automated we have received your email garbage, followed by… well, nothing usually…

Huh, never had customer support quite like this I appreciate it…

How to Attract Clients/Customers

When you work with the “perfect” client, life is wonderful and business is simple. The perfect client pays on time, is thrilled with your work, tells all of her friends about you, and makes doing what you do easy. If you could replicate the perfect client, then business wouldn’t be difficult, right?

Let’s discuss how to locate more perfect clients so you can increase your income and decrease your not-so-perfect client drama.

First, define your “perfect” client. Write a list of specific items that makes (or you think would make) a client great. Is the client male or female? Does he have children? Is she married? In what area does the client live? How much money does the client make? What type of car does he drive? What type of personality does the client have? What age range does the client fall? What does she do for a living?

Once you have a list of criteria that make up your perfect client, find out what the client does in his spare time. What are her hobbies? Does she do charity work? Is he involved with coaching sports for his children? Is she a member of any professional organizations or chambers of commerce? Does your client like to entertain guests in her home? Where does your client shop?

Knowing what your client does with his time will help you know where to market and where to find more perfect clients. For example, if your perfect client is involved with a local charity, you may also want to become a part of that organization to meet other potential clients. If your perfect client is a member of a professional organization, you may be able to write an article or speak for that organization. If your perfect client shops at a particular store, you could make arrangements with the store owner or manager to have flyers about your company at the check out counter or you could do a joint promotional mailing together. The possibilities are endless – if you understand specifics about your perfect target client.

Also, ask the clients who already fall into the “perfect” category, for referrals. My personal favorite way to ask for referrals is to say, “You are my perfect type of client to work with and I’d love to work with more people like you. If you have friends and family who need similar projects, please have them call me. You’ve been such a joy to work with.” Then give them a business card or a flyer or other piece of marketing material they could pass on to their perfect friends. You can also include this information in a thank you note or follow up letter.

The more perfect clients you work with the more opportunities you will find and have to work with other perfect clients. Keep in mind, if you have clients who have been less-than-perfect, they are more likely to refer you to other less-than-perfect people. So, do everything you can to surround yourself with perfect ones, and your business will be wonderful!

Office/Computer/Equipment Needed

Investigative tools and the equipment to write reports are what you will need; spend at least $4,000 equipping your office with computer and printing equipment as well as a decent software package for all of your major communications. Your reports will need to be clear and easy to understand. (After all, they hired you to clear up the red tape, right?) Cell phone, computer, printer, office furniture, business cards, letterhead, envelopes, on and off line search engines.

A good office setup is critical to smooth running business operations. Controlling purchases and expenses are a key ingredient to a healthy business, especially a new start up venture. This book gives you the information you need to professionally set up your office operation.

Staff/Personnel Needed

Hiring and retaining the best employees does not happen by accident. This book will show you how to find, hire and manage the best people for maximum productivity. The book will guide you through developing your policies and procedures and formulating your own Employee Handbook. It will help you establish an environment where employees can reach their full potential and enrich your business.

Where to Begin

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