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Tag Archive diamond

Costly Rock

How Much Does That Rock Cost?

People buy “rocks” daily in the Diamond District of New York City and other places online.  But did you know that some rocks though seeming worthless can cost you more than they’re worth?

Here I was on the road to Chicago a couple weeks ago with one of my business partners, and while in Indiana in the rain I hear “peck!”  And you can already guess what it is.  The closest truck was at least 20 yards ahead.  But that didn’t matter as my windshield had already been hit.  Now a little speck on your windshield is not necessarily a big deal.  However, when it turns out to be a crack line that’s bigger than a dollar bill you have to find out the cause and repair the windshield ASAP.

the rockWhile this is being done, I’m writing this post.  I’d like to ask my entrepreneur readers when was the last time a small pebble cost you a fortune in your business.  Keep in mind, my insurance is covering this repair partially as I must shell out my $500 deductible up front anyway.  I’m glad I’ve got insurance, otherwise this would cost a whole lot more, when it comes to parts and labor.

In your business, what areas need insurance coverage?  Do you have the adequate insurance for those areas?  If not, why not?  The issue here is that things ultimately break down, or sometimes, worse yet, a pebble gets stuck in your windshield.  Not exactly what you want, but you must deal with it lest the crack grows longer rendering your windshield worthless and compromising the integrity of that windshield.

What little things will you let compromise the integrity of your business?  You must deal with these little foxes now, lest they cause larger breakdowns.  I am happy to be paying my deductible at the end of this glass replacement.  However, without good insurance coverage I wouldn’t be safe behind the wheel of my car, and more importantly this would probably be costing twice as much, if not more.

Every part of your business is important, especially if it’s a home business.  For that you need a whole business plan to represent where you are now and where you’re heading.  Learn more about writing the right business plan to prevent catastrophes in your business.

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