The Importance Of Patience In A Business

Patience is a virtue that has long been preached in many circles. It is important in many aspects of life. This is especially true when it comes to success in a small business. Owning a small business is not for the impatient person. Success in a small business requires a commitment to be in it for the long run. This article will discuss two key reasons why patience is important in a small business and why it would do a business owner good to learn to wait things out.

# 1: Small Business Results Are Often Seen Over The Long Term

It's always important to be realistic in your expectations as far as results are concerned. Remember that your business will always have competitors and often times these competitors have an edge over you in terms of experience and maybe a superior product. This does not mean that you cannot see results, but it does mean you will to work harder to achieve results.

However, your patience will always pay off in the long term. It's always important to step back and think about where you started and how you have made progress since then. For example, if you run an online business, your website may not get a lot of views or backlinks when you first launch it. You need to network and write articles in order for your website to see views. As you network and write articles each month, you will start to notice that your website is getting more views each month and that more people who are viewing your articles are actually clicking to see your website. But what you must understand is that this is a process that takes months or even years, not days or weeks.

# 2: Patience Is Important In Other Aspects Of Business

Patience is important not only in achieving results, but also in dealing with other matters in business such as adverse situations. Often times, the best way to handle an adverse situation is to step back and evaluate your various options and decide which is the best course of action as opposed to panicking. For example, if a customer complains, instead of getting upset or making a snap decision, it's best to have a detailed discussion with the customer about the problem and assess what solutions are available to the customer as well as how to properly compensate the customer for their troubles.

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The Importance of Home Flood Insurance

A flood insurance is separate from your usual homeowner's insurance. It is provided by a few insurance companies and comes with its own terms and pricing. This kind of insurance is not mandatory for every homeowner but only to those who live in a designated flood area and has a home mortgage. These places are usually designated by the Federal government as close to main rivers, oceans and dangerous flooding zones. For those who live away from these bodies of water, this insurance is available but only optional. Nevertheless, it is still a good idea to get a policy if your home has a history of flooding from small ponds nearby, excessive rainfall or snow melts.

Remember that while floods can cause a huge destruction, the damage it caused is not covered by a homeowner's insurance. A home flood insurance offers the special coverage you would need to protect your home and things from rising waters. Furthermore, the insurance covers damage to home structure, water heater, furnace, furniture, appliances, rugs, clothing in basement areas, expenses incurred to protect your home against flood damage by sandbagging and covers cost after a flood, which includes removal or debris.

Flood insurance for your home is not as expensive as you might think and the coverage benefits definitely outweigh the cost of replacements and repairs. Homes situated in low to moderate risk areas could be eligible for PRP or Preferred Risk Policy, an affordable option that allows homeowners and business owners protection against the destructing effects of flood. Flood insurance for your home can be purchased through the NFIP or National Flood Insurance Program and other private companies. The government often backs most private insurance companies offering flood insurance. When purchasing an insurance from a private firm, it is necessary to check its financial capacity and reputation to make certain that it will be around if you file for a flood claim.

The price of a flood insurance is based on how much policy you purchase. There are typically maximum amounts available to replace home structure and personal possessions. Furthermore, it also depends on whether you purchase actual cash value or replacement cost insurance. A replacement cost insurance pays a claim to rebuild your home to be the same as to what it was before the flood damaged it. Cash value insurance replaces property and possessions less the value of depreciation.

Another thing to take into consideration when buying flood insurance is the excess insurance. If your home and belongings is worth more than the maximum limit amount of a standard insurance, then you could consider paying for more insurance aside from that known as excess insurance. Again, it is best to consider the financial standing of an insurance company for your excess coverage and the flood insurance rate as well. Typically, it will take thirty days after you purchase that the policy can be effective. Therefore, it is necessary to be prepared ahead of time and consider buying a home flood insurance policy …

Importance of Rideshare Insurance

The rideshare industry is growing and just keeps expanding. This means that in theory, the demand for rideshare insurance should be growing, too. But, that is not the case, in fact, about 90% of drivers that are a part of Uber or Lyft do not have rideshare insurance.

Why is this a big deal? Well, rideshare and insurance companies see a few different phases of rideshare. They are as follows:

Period 0: Your app is offline and you are covered by personal auto insurance

Period 1: Your app is online, waiting for requests. Your personal auto insurance does not cover you at this time, nor does the insurance bought via rideshare company.

Period 2: You have received a request and if you have insurance through Uber and Lyft, you are now covered.

Period 3: You are now carrying passengers and you are covered by the rideshare companies' policy.

So, as you can see there is a gap where you would not be covered. If an accident occurs during Period 1 you could get stuck paying for 100% of the damages. But, that is not the only reason you should highly consider obtaining rideshare insurance.

Without rideshare insurance, you run the risk of having your insurer drop your personal auto insurance coverage. Reason being, is that you must specify that you are using your car to make money because it is not covered under traditional auto insurance. After you are dropped, your premium will significantly increase since you are now considered high risk.

Another possible obstacle is that not all states offer rideshare insurance yet. The prices also vary from state to state and company to company so be sure to receive about three rideshare insurance quotes to ensure the best deal for your needs.

However, the good news is that there are many options to ensure that you are appropriately covered. You need a policy in some form since you are technically using your vehicle for commercial use since you are making money from driving. So, that being said, if your state does not offer rideshare insurance or if it is a better fit, you can opt for commercial auto insurance.

There is also an option to purchase Period 1 coverage to close the gap of the insurance you may already have directly from Uber or Lyft. Some insurance companies even offer an agreement where they will not drop you as long as you disclose that you are a rideshare driver. The only catch is that they will not cover you while your app is online, so experts recommend that you only use this option if you do not move around a lot while waiting for requests and if you have insurance from the rideshare company. Also, be sure to double check with your insurance provider that this is the case to avoid a situation where they would drop you, at all costs.

Ultimately, it comes down to a few things one of which being your state's law. As states …

Personal Trainer – Importance of Setting Goals

After becoming a personal trainer, you need to have a plan in mind of how you intend to build your client base. People hire personal trainers because they want to attain a particular result. Aims and objectives give you and your clients, a plan to follow in an effort to obtain an agreed upon goal. Basically, aims and objectives help you see how well your clients are doing and how well they are going forward when compared to what their ultimate goal is.

Your clients' aims are their strength to work out. Wanting to get in the gym is the first big step. By becoming a personal trainer, you're the key to trigger your clients' goals. If you do not set goals and objectives with your clients, their dedication to work out may shrink over time. Goals are very influential motivators. If your clients set goals, they will be much more probable to do what is essential to attain them. People, who set goals are much more loyal towards the required result, and without loyalty you will have very little achievement. Goals increase concentration and strength in both the trainer, and the client.

Consider that client who said she needed to lose twelve pounds. Her objective may be to: burn about 1,500 calories a day, work out for one hour, workout five times per week, and lift weights twice a week for an hour. She knows exactly what she wants to do and checks her goals on a daily basis. When she wakes up in the morning, she'll know exactly what to do. This is much more effective then if the same woman were to wake up with no plan, or clue where to begin.

A number of the people who employ you will have had some type of mental or emotional issue with their weight, and will thus be insecure of their physical fitness. Examples are the woman who is still trying to lose her baby weight still after fifteen years, or that man who wants to be physically fit, but is too tied up in his work. When you set little achievable goals for people like these and when they achieve them, they will start to feel much more confident and upbeat about what they have the capability to achieve. The end result will be setting new, more difficult goals all in an effort to be even more more fit. They will start looking forward to exercising and enjoy it; and that is the biggest benefit of all.

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Importance of Financial Stability Ratios

Common ratios to judge the financial stability of a business concern are gearing ratio, current ratio and liquid ratio. Gearing ratio shows the extent of a firm's reliance on debt to fund its activities. As the proportion of debt climbs (especially if it exceeds 65 percent of total funds for most businesses), the greater the risk of financial distress. This is the downside of financial leverage – It increases the financial risk.

Current ratio measures the number of times the current assets of a firm cover its current liabilities. This is a measure of solvency: the capacity of a firm to pay its debts through the normal cash cycle, selling inventory on credit, collecting debts and paying creditors. This ratio must normally exceed 1: 1 and should be closer to 2: 1. It should also be noted that an excess of current assets will result in poor asset utilization.

Liquid or quick ratio is a more tighter measure of short term financial stability. It measures the firms ability to pay its current liabilities from its liquid assets. Liquid assets are cash or near cash resources. In practice liquid assets include cash, bank, short term securities and accounts receivable, the assets that be readily converted into cash to meet immediate calls for payment from lenders and suppliers.

Accounts receivables are normally included in liquid assets, as they may be sold to a finance company at a discount for later collection from debtors. This is called debt factoring. Debt factoring is not common in all the countries. Debt factoring is used as a means of managing the cash flow from operations, rather than trying entity's funds up in accounts receivable. In arriving at liquid assets, the principle exclusion from current assets is inventory. As this may take some months to sell – and then often to credit customers – it can be many months before cash is collected from inventory. Among the current liabilities may be some debts that may not be due for many months. These may be excluded in calculating the liquid ratio. Examples include tax payable and a current portion of long term debt, both of which may not be due for some months. However, such adjustments should only be made if the repayment dates are known and are over six months later than balance sheet date.

One common (but risky) adjustment in calculating the liquid ratio is to exclude bank overdraft from current liabilities. This is not recommended. When a liquid ratio declines towards (or below) the 1: 1 level (including overdraft), this is most likely time that the bank will require repayment – on demand. Hence, an overdraft should only be left out of this calculation when the firm is perfectly liquid – When it does not matter anyway!

As these ratios are based on the statement of financial position, they represent only a 'snapshot' of the financial stability of the business, taken at one point in time. These ratios can be manipulated by referring payments or …