Word From Our CEO: Put it Down to Get it Done!

Thanks to our CEO/President Gadi Binness for the following post. Learn more about Gadi and connect to him on LinkedIn.

I belong to a group of local business owners here in the Tri-State area called The Alternative Board (TAB), which meets once a month to discuss and coach each other on a variety of topics and issues that we experience as small business owners. Participating in TAB meetings has helped me gain perspective on my business goals through hearing about others’ successes and failures, as well as sharing my own.

Professional gatherings like this can be an incredible source of ideas that can be implemented in your business right away. However, it wasn’t until recently that I realized that there is one thing I must do at these meetings to make sure I actually benefit from hearing others’ ideas—write it down! It may sound obvious, but in the past I had sometimes neglected to take notes and it was those times that my business probably did not benefit as much as it could have from those meetings.

That is to say, if I don’t put things in writing, I will forget about them. Whether your style is to use a simple notebook or to type notes on a laptop, the act of taking notes is a critical first step in turning new ideas into action. Not only can I refer to my notes later, but I find that I actually remember ideas better after I have physically written them down.

There is probably some psychological or scientific reason for this (and please feel free to look it up and send me your findings), but the bottom line for me is that I would not have gotten all my business ideas in place unless I wrote them all down at some point. Thus was born my new mantra (which I’ve repeated endlessly to my employees, friends, kids, and to myself): “Put it down [in writing] to get it done!”

What methods do you use to turn ideas into business practice? Please feel to share with us and our readers in the comments section below.

Affiliate Network Roundup

Here's what's been going on amongst our affiliates this week. Are you a Relocation Insurance Group affiliate and haven't seen your blog featured? Send us your blog URL here.

• Proud Sponsor of this Year's Le Book Tradeshow - Flat Rate
• World Cup Fever - America’s Moving Services
• New flood insurance policies won't be sold by State Farm - Relocation.com
• Moving Reviews Posted - NorthStar

Relocation Insurance Education: All Risk Policies - Valued Inventory vs. Lump Sum

There are several options consumers can choose from when insuring their possessions during a move or while in storage. Today, our focus is on the two types of All Risk policies Relocation Insurance Group offers: Valued Inventory and Lump Sum.

Full Replacement Value - Valued Inventory

• Advantage: By providing a detailed inventory, you are specifying all individual items that you want insured. All items listed are insured up to the replacement value based on the Terms and Conditions.

• Disadvantage: Items not listed and valued are not insured. If you do not list ALL of your personal effects, you are not insuring your entire shipment.

Full Replacement Value - Lump Sum

• Advantage: Declare a total lump sum of your shipment and list (with values) only items that are $500 or greater in individual value. Items below $500.00 (USD) in individual value do not have to be listed and are covered at their declared or replacement value and at a maximum of $500 each. Your total lump sum value must include the value of both listed, as well as non-listed items.

• Disadvantage: If you declare a total lump sum value lower than the actual total value of your shipment, or lower than $6.00 times the weight of your shipment, you may be underinsured and subject to the Co-Insurance clause.

Extra Credit: Co-Insurance

A clause under the Terms and Conditions of the policy, which determines the settlement compensation amount in case of a claim. Co-Insurance, or Underinsuring, is a situation in which a shipment or an item is insured for less than its replacement value. Settlement will be proportional to the declared value versus the replacement value of the shipment or item.

For example, if you insured your goods for $10,000 (i.e., a declared value of $10,000) while the entire replacement value of the goods is $100,000, your proportionate claim settlement amount (in case of a claim) would be 1/10 of the actual value. A lost table worth $1,000 will yield a settlement in the amount of $100 (minus any deductible, if applicable).

If your shipment weight is 5,000 lbs, the minimum policy amount required is $30,000. Unless you opt to complete a Full Valued Inventory, in order to avoid co-insurance, you must purchase coverage at a minimum of $6 per pound based on the weight of your shipment.

More information on all coverage options offered by Relocation Insurance Group

Positive Signs from our Relocation Affilliate Network

Lots of great stuff going on this week!

• Move for Hunger and Priority Moving work to Stamp Out Hunger - Priority Moving
  
• Extending “Bring Lebron James to the Knicks” Campaign! - Moishe's Moving
• Summer is here! - Elephant Moving and Storage
• Penske Logistics Presents Report: U.S. Logistics Industry Poised for Rebound - Penske
• Free Packing Course for Moving Customers - Ferguson Moving & Storage
• Get Cross Country Moving Rates - ABF U-Pack Moving
• GO MINI’S 2010 Dealer of the Year - GoMini's
• E-Z Movers’ Teams Up With Apartment People - EZ Movers

Self Storage Owner Denies Liability for Damage Caused by Admittedly Faulty Roof

The owner of a self-storage facility in Washington D.C. is denying any liability for water damage to its tenant’s belongings, caused by a leaky roof which the owner admits has been in poor shape for over a decade. As a recent article at DCist.com explains, the facility’s owner lays the blame on the contractors he hired to fix his faulty roof, and on the tenants themselves.  “Things can happen to your stuff in storage,” and “customers need to have renters' insurance,” according to the owner.

It is of course true that tenants should be aware of the risks to their belongings during storage, and that a good insurance policy can protect the value of belongings damaged by various perils. However, most tenant insurance policies would not likely cover such a claim as this one, where the facility owner admits to having a faulty roof for so long.

Who do you think is liable here—the owner, the tenant, or the contractor? Check out the full article at DCist.com and let us know what you think by commenting below.