The featured notary this week is LaKeshia N. Adkins. LaKeshia started her notary business from research did after becoming a Real Estate Agent. LaKeshia is known around the Indianapolis area as one of the most impressive up-and-coming Real Estate Agents. LaKeshia has started her notary business by diversifying her business by not only conducting real estate assignments but also offering general notary work. Here is a video interview with LaKeshia.
Do you know an outstanding Indiana Notary that you would like to see featured in our next article? Is that notary you? If so, please submit their (or your) information here (click here)and maybe they (you) will be the next Featured Notary.
About 7 years ago (while going through a mid-life crisis), I decided to learn how to ride a motorcycle. Growing up in South Carolina a lot of my friends had motorcycles as a family bike. My family didn’t have a lot of resources so we never had one but that never killed my desire to have a motorcycle to ride. When I turn 50 I took a course on how to operate and ride that was very eye-opening. Not only did this course teach me the basic fundamentals of riding a motorcycle, but it also taught me some great life-saving lessons on defensive driving. As notary entrepreneurs, we are always on the road running from assignment to assignment. Here are a few tips I picked up from my +40 years of driving and the motorcycle course.
Take a defensive driving course. I have a large network of notary entrepreneurs I keep in contact with regularly. This could explain why every 3-6 months I hear of another notary entrepreneur who has been in a serious car accident. Much of the time it is not even the notaries fault. A defensive driving course will serve as a valuable refresher on what to look out for while on the roads and highways. It will also boost your driving prowess to reduce the chances that you cause an accident that harms others, their vehicles, and your own person or vehicle.
Budget and schedule regular vehicle maintenance. As notary entrepreneurs, your vehicle should be considered an asset. Keeping it properly maintained is critical to the success of your business. By properly maintaining your vehicle, you’ll reduce future repair costs, optimize your car’s performance, maintain its value and extend its life.
Check and replace your tires appropriately. Now I know what you are thinking…shouldn’t this tip be in the “Budget and schedule regular vehicle maintenance” section? My experience has shown me that this should have its own section because this is so important. Several years ago I was in a near-fatal car accident. I was driving too fast for the conditions on the road and did not maintain my vehicle properly. My tires were in terrible shape. As I was driving down a country road (too fast) I tried to apply the brakes as I was approaching a corner. I soon discovered that not only was I not slowing down but the car fishtailed and slide right off the road doing around 60 miles an hour. I remember being thrown around the car like a ragdoll and finally coming to a stop. The only thing that saved me was that I had my seatbelt on. Months before the accident I remember looking at my threadless tires telling myself that one day I need to get new tires but never did. After that accident, I mentally wasn’t able to drive for 18 months. It took me 6 months before I would ride in a car with someone else driving.
Here is a good rule of thumb for tires. Since your tires lose about one to two PSI every monthl after you fill them, then as a general rule, check all four of your tires, including your spare, at least once a month, and during large termperature swings. I believe maintaining proper tire pressure and a quick inspection of the threads on your tires can be life saving. Check your vehicles Owners Operators Manual for more details.
Before driving in a residential neighborhood turn off the music, books on tape, or other distracting sounds in your vehicle. Driving through neighborhoods, especially those neighborhoods that you are not familiar with, you will need to give your full attention to not only finding your location but to find it safely. With distracting sounds off in your car you can focus on safe arrival. When returning to your car walk completely around your vehicle to make sure kids are not playing behind your car or that you don’t run over a toy placed behind your vehicle. This habit after leaving an assignment has really saved me from a lot of later headaches.
Staying safe on the road is one of my number one priorities. What are some tips that you found helpful on the road.
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the Executive Director of the Lewis Notary & Training Services Inc. Daniel is an entrepreneur, writer, video editor, and Keynote Speaker.
The featured notary this week is Laura Jones. Laura is known as one of the most very dynamic, energic, and fearless notary entrepreneurs in Indiana. Laura has made quite the name for herself through her online notary groups and in-person professional notary meet-ups. Here is an interview conducted with Laura recently.
Interviewer: Can you tell us how you got started in the notary business?
Laura: I decided to get out of the business I was in for 20+ years and do something different. I did some research and decided that this is what I am going to do. I wanted to get into something with real estate but I didn’t want to be a Realtor.
Interviewer: Why Real Estate?
Laura: My husband Richard and I already owned some real estate and after some extensive research I found the Notary Signing Agent field would be a great fit.
Interviewer: How long have you been in the notary business?
Laura: Three years
Interviewer: How many assignments have you done so far?
Laura: I have done about 3,000 assignments so far.
Interviewer: Where do you want to go with your notary business?
Laura: I not sure. I know I want to expand but haven’t quite figured that out yet.
Interview: How have you been able to overcome challenges?
Laura: FIrst of all I don’t let fear take control of me. A lot of people allow fear to take control but I don’t live in fear. When I was starting this career and leaving a career that I knew for 25 years I had no fear. I went into it as if I was starting a new career. I had no fear. I knew I had a task at hand and I have a lot of confidence in myself. I have a belief that I can do tough things.
Interviewer: What areas do you cover?
Laura: My main area is Marion County and the surrounding counties and one more level after that. I have traveled all across Indiana.
Interviewer: Tell us something not many people know about you.
Laura: I gotten hit in a drive through at MacDonald by a drunk driver.
Interviewer: How did that impact you?
Laura: I was mad and had to get my car repaired. I was not injured.
Do you know an outstanding notary that you would like to see featured in our next article? Is that notary you? If so, please submit their (or your) information here(click here) and maybe they (you) will be the next Featured Notary.
Every day someone is jumping in, feet first, starting a new notary business. They have checked out some websites, joined a couple of local and national organizations, and took the time to write out a business plan for their notary business. One question that should come up at the very beginning of this new venture is….
What type of insurance do I need to properly protect my business as well as my personal assets?
Most online websites will give some basic information about Bonds and E&O Insurance. If this was the year 2001 that would be great protection but since we are in 2018 this definitely won’t be sufficient coverage for the professional notary entrepreneur. Let’s take a look at some of the different protection available for the notary entrepreneur.
Bonds
What is a Notary Bond? A notary bond is a legally binding contract guaranteeing the notary will complete tasks ethically and in adherence to the local laws. Notary bonds are required because notaries and notaries public are entrusted with a great deal of legal authority and are appointed as witnesses who ensure signatures on important legal documents are valid. Bonds are usually required in each jurisdiction (check your local requirements).
Please keep in mind, however, bonds actually protect the public and not the notary. The reason why that’s important is that if there is ever an issue and your notary bond is called to pay damages, the notary would need to repay the bond back to the bonding company.
Errors & Omission Insurance
E&O Insurance is a type of professional liability insurance that protects the notary entrepreneur from mistakes resulting in a financial loss by the customer. If a customer makes a claim for damages against a Notary Bond, E&O Insurance will protect the notary’s assets up to the chosen coverage amount. Without E&O Insurance notaries are personally liable for damages caused by a mistake made while acting as a notary, which is why this coverage is so important. It is important to remember that E&O Insurance does not cover mistakes deemed to be intentional in nature. E&O Insurance is highly recommended. Click here to talk with a licensed agent
Signing Agent E&O Insurance
Signing Agent E&O Insurance (also called Signing Agent Liability Insurance) is designed to fill the gaps not covered by traditional Notary E&O Insurance. Signing Agent Liability Insurance is specifically designed for notaries who assist with loan signings. The policy fills the gaps left with traditional Notary E&O Insurance, which only provides coverage for the actual notarization in loan packages. Signing Agent E&O Insurance covers unintentional errors or omissions while the notary is acting as a “signing agent”. In addition to the notarizations, this insurance covers such things as getting all other signatures and initials, correctly dating the documents, completing the signing in the time period specified, and promptly returning the signed documents. Defense costs are also covered within the coverage amount. Click here to speak with a licensed agent
Identity Theft Protection
I was recently in a room full of professional notary entrepreneurs and asked two questions. The first question was how many of you ever had to use your Errors & Omissions Insurance because of a claim for damages? Keeping in mind the average year’s experience was about 7 years, not one hand went up. Then I asked how many of you ever been a victim or knows a victim of identity theft? All the hands in the room went up. Having identity theft protection is one of the most underrated forms of insurance that the notary entrepreneur can have. I am not referring to some watered-down version of identity theft protection from a bank or as an add-on to an insurance policy that will not properly protect the notary or his/her business. I am referring to a comprehensive plan that not only protects against the notary from credit card scams, driver’s license identity theft, passport scams, and medical fraud but even protect the notary’s social media post from being hijacked.
Since some notary entrepreneur assignments deal primarily with real estate transactions and require the notary to submit to annual background screens, having comprehensive identity theft protection is critical to operating an efficient effective notary business. Click here to speak to a licensed agent about receiving identity theft protection
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the President of the Indiana Notary Association. Daniel is an entrepreneur, writer, video editor and Managing Partner of Lewis Notary Services Inc. Daniel has recently obtained a license as a Financial Advisor.
The featured notary this week is Felicia Brown who runs her newly minted professional Notary Signing Agent business from Indianapolis, Indiana. Even though Felicia just recently got started with her notary business she is off to a very fast start. Here is an interview conducted with Felicia recently.
Interviewer: Can you tell us how you got started in the notary business?
Felicia: I got started in the notary business due to this pandemic. My full-time job at the time was reducing and cutting hours and I really did not want to be caught in that situation again. I decided that I wanted to have a side business that I could create myself that would generate extra income for me, just in case anything else like this would happen. I just wanted to be better prepared financially.
Interviewer: You are in the medical field and they were cutting your hours?
Felicia: Yes. I am in the medical field and they were cutting hours. In my field sometimes we weren’t able to see patients during the time of the pandemic. In our nursing home facility, for example, people weren’t coming in and therefore we weren’t getting a lot of patients. This causes our facility not to have a lot of work hours so they start to cut back my hours.
Interviewer: So, how long have you been in the notary industry?
Felicia: For a couple of months now. I think it’s been right around two months now. I am still considered a newbie.
Interviewer: How many how many assignments have you had so far?
Felicia: I’ve had about fifteen assignment so far. Fifteen and counting.
Interviewer: Where do you want to go with your notary business?
Felicia: I want it to go as far as my notary business will take me. I would love to do work for title companies, directly. I would love to work for any type of attorney offices or just wherever.
Interviewer: This pandemic has given all of us some challenges. How have you been able to overcome all the challenges you’ve faced this year?
Felicia: Well, I would say it’s been my faith. It’s definitely been my faith and my trust in God that has allowed me to overcome the challenges. Also, having good friends. Being able to have my friends to talk to and just bounce things off of. That has helped me to be able to keep my sanity during this pandemic.
Interviewer: What physical areas do you cover in your area with your notary business in Indiana?
Felicia: I pretty much do all of Marion, Hamilton, Hendricks, and Johnson County.
Interviewer: I can tell that in 2021 we should expect a lot of great things from you. Is there anything you wanna add.
Felicia: I really enjoy doing this. Like I said I am a newbie and I have learned so much. Daniel Lewis (Lewis Training Services) has been a God sent and I thank him for that. I am eager to just learned a lot more about this business. I am ready just take the challenge.
Interviewer: Ok, thank you so much for your time and I’m sure will see a lot more of you in the near future.
Do you know an outstanding notary that you would like to see featured in our next article? Is that notary you? If so, please submit their (or your) information here(click here) and maybe they (you) will be the next Featured Notary.
Having been in business for the past 17 years, I have seen some incredible ups and downs. From the collapse of the mortgage industry in 2008 (on the business side) to a diagnosis of cancer in 2010 (on the personal side) to living through a pandemic that affects both sides, problems are often just around the next corner. If you are a new notary entrepreneur or even a seasoned notary entrepreneur here are five (5) keys elements you should develop for long-term success with your business.
Obtain a Legal Service Plan. This is absolutely vital to your success as a notary entrepreneur. If you are a Notary Signing Agent this is critical. I highly recommend you seek out having a legal service plan for your business. A good legal services plan can give you access to law firms across the country. Imagine if you had access to a Contract Attorney, Tax Attorney, or Estate Planning Attorney to ask an unlimited number of business questions. Also, if you are a Notary Signing Agent you are probably in your car at least 6 days a week traveling to and from assignments. The risk of you being stopped for a traffic violation is higher than for most people in other careers despite how great a driver you are. Imagine always having an attorney represent you in traffic court on these violations. If you could obtain a legal service plan at an affordable price as well as it being tax-deductible for your business could this be of value to you?
Need to set up a FREE 15-minute telephone consultation on a legal service plan in your area, click here
Seek a Certified Public Accountant (CPA) that understands your business. Tax laws are constantly changing and becoming more and more complicated. Using a CPA can help you develop a strong foundation for your business. They can help you improve your credit rating, reduce debt, help with saving for your kids, help you settle back tax debt as well as help you save critical time and money. Using a CPA can literally save you thousands of dollars over the years. As a notary entrepreneur would you find that valuable?
Develop a strong relationship with your bank manager. I grew up in a very small town in South Carolina. My family back then had a very limited relationship with the banking system. As I developed as a notary business entrepreneur I discovered that all banks are not the same. Some offer free checking but will hit you up on the back end with multiple hidden fees while others charge you small fees upfront and modest fees on the back end. It is critically important to have a good understanding of how your bank will operate with your type of business. Discovering where the hidden dangers that can cost you hundreds if not thousands of dollars in fees each year from your bank manager could be the key to a successful business and banking relationship. Reviewing banking policies and fee structures can definitely be of value to your business in the long haul.
Obtain Accident & Critical Illness Insurance. I said earlier that in 2010 I was diagnosed with cancer. I go through in detail how I heard and received this news in my new book “AMPLIFY Your Notary & Signing Agent Business” coming out in the next few weeks. After going through a six (6) plus hour surgery I was off my feet for nearly 3 months. Imagine not being able to work or bring in the income needed to keep your business afloat. Imagine not being able to pay the basic needs of your household like the mortgage, car payments, utilities, food, etc. Having an accident and critical illness insurance policy saved my business from being dissolved. It paid for all those things and more. Most people have health insurance, home & auto insurance, even E&O Insurance but not consider having one of the most critical coverages of them all for notary entrepreneurs – Accident & Critical Illness Insurance. This type of coverage protects you if you are hit in your car and injured by another driver if you have a heart attack or stroke, and yes, in my case, diagnosed with cancer. Would having this protection give you peace of mind?
Be obsessed with developing and staying in excellent physical & mental health. When I started my self-employed notary business my focus was on staying very active in developing clients and getting repeat business. That focus had to lead me to some pretty bad health habits such as lack of daily exercise and keeping an eye on what food I consume. Often times I was in a fast-food restaurant by 6:30 am heading to my first appointment then by 12:30 pm in another one heading to my next appointment and then by 5:30 pm picking up the wife and kids to go into another restaurant for dinner and back out on the road by 6:30 pm. Back home by 9:30 pm or 10:00 pm to wrestle around in the kitchen for cookies or some other sweet snack. This schedule happening at least 6 days a week for years really took a toll on my overall health. Now with some adjustments on diet and mental health, my business in its 17th year is thriving.
I have interviewed several very successful notaries over the years. Following these five (5) keys will reduce your chances of failure with your business.
Daniel C. Lewis was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year as an Honorary Secretary of State by the Indiana Secretary of State in that same year. He resides in Carmel, IN, and is currently the Executive of Lewis Training Services, an approved education vendor by the Indiana Department of Insurance. Daniel is also an entrepreneur, writer, video editor, and Managing Partner of Lewis Notary Services Inc. Check out these other blog posts by this author
It is essential for professional notaries to choose a bank with excellent checking account features that will keep their business running efficiently as well as effectively. Getting a business checking account is usually one of the first steps for a notary entrepreneur. It gives you easy access to your cash as well as many other advantageous features.
With so many options out there (credit unions & banks), where do you start if you are a new notary or if you are a seasoned notary that wants to compare options? Let’s first start with a basic question:
WHAT IS A CHECKING ACCOUNT?
A checking account is a type of bank account that allows you to easily deposit and withdraw money for your daily transactions. Conveniently having access to that money through writing checks, paying with a debit card connected to that account, getting cash out at automated teller machines (ATMs), or transferring money online is essential to notary entrepreneurs. Checking accounts are typically insured by the federal government through the Federal Deposit Insurance Corporation (FDIC). This means if for any reason your financial institution fails, the FDIC will reimburse you for the money in your checking account up to at least $250,000. Because of this, a checking account is one of the safest places you can put your cash, as long as the financial institution you choose is insured by the FDIC.
WHAT DO I CONSIDER WHEN CHOOSING A CHECKING ACCOUNT?
FEES
Financial institutions need to cover their expenses, and one way to do so is to charge fees. Like most financial products, checking accounts charge various fees to access your money. Fee can range from monthly service/maintenance fee, overdraft fee, non-sufficient (NSF) fee, and ATM fee. Don’t assume that all banks and credit union fees are alike (this is a common mistake made by notary entrepreneurs). Compare policies with several financial institutions before making a decision on a business checking account. Some checking accounts work in favor of how notary entrepreneurs conduct business. Doing your research could save you thousands of dollars each year.
MINIMUM BALANCE REQUIREMENTS
Many checking accounts require you to maintain a certain balance in order to avoid fees. This minimum monthly balance can vary widely depending on the bank and the features associated with the account, so make sure to only sign up for a checking account with a minimum monthly balance that you know you can safely maintain.
ATM NETWORK
Most checking accounts come with a debit card that allows you to withdraw cash from ATMs throughout the country. If you often pay with cash, you’ll need to use an ATM and/or visit a branch location to withdraw money. While this is an incredibly convenient way to get money quickly when you need it, there’s a good chance you’ll be charged a fee for withdrawing cash from an ATM that isn’t part of your bank or credit union’s own network of ATMs. Make sure you have a good understanding of the financial institution’s ATM policies on where you can conduct your transaction and what the fees are.
INTEREST RATES AND REWARDS
Checking accounts aren’t built to hold large amounts of money for long term goals so interest rates on these accounts are typically quite low. Checking accounts that do earn interest usually come with higher minimum monthly balances or fees. It may pay off to find out if opening a checking account at certain institutions have rewards like a cashback program that you can take advantage of.
MOBILE APP FEATURES
Choosing the right checking account is about more than just the financial terms. As a notary entrepreneur, you should also consider what mobile app features are offered. If you do a lot of general notary work, oftentimes your customer may want to pay you with a personal check. Having a mobile app that can help you seamlessly deposit checks right at the signer’s location in front of them is a huge advantage as a notary entrepreneur.
Amplify Your Notary & Signing Agent Business
By Daniel C. Lewis & Jocelyn Waters
In this exceptional Ebook, the authors give you the tools to market and thrive in the notary industry. It is masterful writing for anyone considering to go into this field as well as anyone that is a seasoned notary entrepreneur. This amazing Ebook has it all.
Checking accounts are safe, easy to open and easy to use. Checking accounts do have some drawbacks — they earn little to no interest, and fees can be quite high if you’re not careful. They do, however, provide a major convenience in today’s modern world when it comes to paying bills or getting cash. Do your research and open a checking account that will provide you with the best options and make your life easier.
Developing financial literacy is critical for the successful notary entrepreneur.
The cost of gas can be a major daily expense as a Notary Signing Agent going from appointment to appointment each day. Gas prices can fluctuate weekly or even daily in some areas. Here are a few tips that can help you save on this expense.
Whenever possible, the night before route your assignments
If you are like most full-time Notary Signing Agents that have multiple assignments each day it is a great investment to plan the night before on which route you will take to travel to each assignment. When I first started as a Notary Signing Agent one of the mistakes I made was to not plan out the next day travel. Doing this can cut down on unnecessary traveling to and from your office or FedEx & UPS drop off locations. Proper planning prevents poor performance.
Use Gas Saving Apps
Thanks to smartphones, we can now download an app for just about anything, including saving gas. Here are a few of the top gas-saving apps that can help you save on gas expenses daily – Gas Buddy, AAA Mobile, Gas Guru, Waze, and GetUpside.
Use Reward Programs
One of the best ways I have found to reduce the weekly gas expense is to become familiar with your rewards programs for gas at your local gas stations, grocery stores, etc. Fortunately for Notary Signing Agents, the competition is fierce among gas stations, grocery stores, etc. to have you come into their location to become a repeat customer. As an incentive, these merchants use different types of reward programs to entice you to come into their doors weekly and daily. Make sure you take advantage of this to keep lower the fuel expense weekly.
Know the Best Days of the Week to Buy Gas
According to a recent study of GasBuddy, depending on what part of the country you’re in, Mondays offer the lowest average price.
According to GasBuddy, depending on what part of the country you’re in, Saturday and Sunday is the day to avoid filling up. Patrick DeHaan, head of petroleum analysis at GasBuddy says that as the week progresses and our excitement builds for the weekend, gas prices also have a tendency to rise.
Don’t Wait Until You are Near Empty to Fuel Up
Waiting until your fuel light comes on will not only have you stuck paying for whatever gas is readily available in the location near your assignment but it can be even dangerous and inconvenient, according to Consumer Reports.
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the President of the Indiana Notary Association. Daniel is an entrepreneur, writer, video editor and Managing Partner of Lewis Notary Services Inc. Daniel has recently obtained a license as a Financial Advisor.
There are a lot of discussions nationwide about wearing masks during this pandemic. Just this week, for instance, while out on assignments, I have had some signers state to me prior to arriving at their location that they will only meet with me if I have a mask on. While other signers have stated that they will not be wearing masks during the transaction and would prefer I didn’t wear one because they don’t believe the pandemic is real. No matter where you are on this issue, we recommend you implement systems to keep yourself safe.
For those notary entrepreneurs that wear masks during this pandemic, here are a couple of tips.
Invest in a More Breathable Mask
Masks can be uncomfortable, especially when it’s hot and humid. Experts say, however, that wearing a mask reduces transmission, helping to curb the spread of coronavirus and to quite literally save lives. Choose a mask that has more structure than those that lie flat against your mouth. Ensure that the material in your mask doesn’t cause heat rashes. The latest recommendation is to use multiple layers of fabric to produce the most effective protective barrier to the virus. So, instead of using a thick cotton, consider a thinner cotton fabric, but layering it.
Bring Backup Masks
Wearing masks consistently can make them literally sweaty and stinky. This can also cause acne breakouts. Make sure to pack a few extra fresh clean masks daily. Put these in a sealable baggie so it won’t be exposed to any germs before you slip it on your face.
Be Aware of Overheating
According to experts, wearing a mask over your mouth and nose can make it more difficult to breathe, especially for people with existing conditions, such as asthma, claustrophobia, or chronic obstructive pulmonary disease. That can actually lead to shortness of breath and allow heat to build up in the body, resulting in illness like heat exhaustion or heatstroke. Avoid being outside in the direct sun for too long and stay hydrated. You may need to drink more water than usual during this time of year to make up for increased sweating.
These vendors have ben approved by the Indiana Secretary of State’s office as a remote technology vendor. To prepare for the statewide exam on RON check out our Approved 3 CE Hours Course toward your Title Producers license at Remote Notarization Self Study Course.
