When you run your own business you are your own master and your own slave.

There are always more things to do than you have the time or money to manage. How you are able to cope with this situation determines whether you have a chance of becoming a successful business owner.

Two opposing styles cause the most problems. One is doing everything your master demands of you. The other is rebelling against these demands and abusing your freedom.

Renee is her own slave. She works over eighty hours a week and eats, breathes and sleeps her business. She is determined to get every single item on her to do list completed. She
*attends several networking functions every week,
*collects business cards,
*follows up with letters about her business,
*makes all necessary phone calls,
*and does her paperwork in the middle of the night.

Customers are delighted with her services, and her business seems to be thriving, but she isn’t. She is “losing it!” She is exhausted and burned out. She keeps promising her husband and children that she will take time off, but whenever she does, all she can do is sleep.

Six months after she started her business, her chronic sinus infection became so bad that her doctor suggested surgery.

Allison decided that it made sense to run her business from her home. She dutifully prepared a business plan under the guidance of her mentor. She, too, has a long to do list.

However, Allison has trouble getting started in the morning. She loves to linger over coffee, read the newspaper and do a morning exercise class. About eleven she reviews her list and gets to work.

She chooses the easy items so that she can get them out of the way. After a lunch break, and an extended phone conversation with a friend, she gets back to work. Just as she is really getting warmed up, the children arrive home from school and demand her attention.

Allison wonders why her business is getting off to such a slow start, and her savings are running out.

Renee and Allison each need to borrow some elements of the other’s style.

Renee has created so much structure for herself that she almost literally has no room to breathe. She does not “have a life,” only a business, and her body/mind system is breaking down under the strain. She needs to learn to prioritize and include her own personal and family needs on her to do list.

On the other hand, Allison treasures the life she is enjoying so much that she is unwilling to sacrifice very much of it to do the work necessary to make her business successful. She needs to follow the structure of her to do list and not abandon it each time something more enticing comes along.

Making these changes may be emotionally challenging for each of them. Renee derives much of her self-esteem from producing superb results, and Allison derives her satisfaction from not allowing anyone to tell her what to do, not even herself.

They will both need to reevaluate their priorities, and find a way to feel satisfied and happy with doing things differently. They will probably need friends, coaches, or support groups to help them sustain the necessary changes.

If you are or intend to become a business owner, you will need to steer a course between these extremes in order to have a business and have a life.

Communicate skillfully about sensitive subjects in business situations. Have the challenging conversations that lead to cooperation and success. Business Communication Blog
Laurie Weiss, Ph.D. is a Master Certified Coach and communication expert. Dr. Weiss has spent 35 years helping clients resolve conflict in business and personal relationships. Email feedback@laurieweiss.com

Having any type of business is a huge responsibility. And sometimes it is correctly said that not everyone should be involved in business. It is important to stay wise and keep your eye on everything, Safety and supervision can never be out of proportion here. But that is not everything you need to think about. There are other important details that need to be taken into consideration. You might have already heard about liability protection but you don’t know what exactly that is and how to behave with it. Let us take you into the world of insurance for a moment and show you what there is for you to choose from.

You probably wonder who it is for. More than 78% of the businesses located in the United States of America are categorized into partnership or sole proprietorship. But if you think about it this bring more pressure and risk in lives of small business owners. When you have a good insurance you can at least know that your professional part of life is highly protected. Financially it could be ruined but it will stay safe with a good insurance.

But don’t let anyone give you wrong ideas about anything. You might have heard that you will be totally protected from personal liability but in reality you can be personally liable in the following cases:

• When you have signed a personal guarantee for a loan
• When you cause damage to somebody
• When your actions can be considered as illegal or do not contain any moral side

What is the liability insurance and how to trust it?

BLI (Business Liability Insurance) will help you when you run a small business that is threatened by a lawsuit for property damage and personal damage. What it will do for you is cover all the damages from the court together with the legal payments. You can totally trust it and it is highly recommended by small business owners as it gives the needed protection in a very short period of time. Continue reading →

Mortgage financing is the process of placing a mortgage on a house and a yard or a commercial property to the purchaser of the property. The mortgage has two main objectives.

It can provide income-related activities for the lender. It can also be used to refinance the use of the mortgaged property on terms more favorable payment or establish a line of credit for operating a business.

Commercial mortgages are loans for the purchase of books, including office buildings, health facilities, shops and apartments. Apart from commercial property, the buyer must complete an additional financing for the transaction.

Meanwhile, the lender makes money from interest on the loan. If the borrower does not pay for commercial loans, the lender reserves the right to initiate foreclosure proceedings and to use the mortgaged property. In general, charged that the interests of commercial mortgages are tax deductible.

Would you apply for a commercial mortgage, you need two different types of loans, ie loans to fixed rate and variable rate loans. These types of loans are applicable for residential mortgages and commercial.

If you choose a fixed interest rate on your mortgage financing contract remains in force until the loan is fully repaid. A fixed rate is a better option that the Bank will increase interest rates, higher cost base. You can always refinance your mortgage if interest rates rise bottom is established.

When the base rate increases, the rate of floating rate loan has also increased. Make sure you understand how variable rates determined. Check with the lender, how often the variable rate fluctuates. Many people with variable rate bonds in the past had foreclosured their homes because their monthly payments went on their budget.

As long as interest rates fall on variable mortgages, you have an advantage. But it is feared that higher interest rates. When this happens, make sure the monthly payments more affordable.

There are also mortgage financing, where the rate for years, then converted into a floating rate loan. The demand for commercial mortgages, make sure you understand the prepayment charge of the ERC.

The early repayment charge to pay a penalty in the amount of the borrower decides to pay the loan in full by the due date. Lenders lose money if the loan in full earlier than payment for the application.

After a charge on the prepayment of your mortgage financing is a common practice among U.S. lenders. If you are a print ERC, try to negotiate with your creditors. If you do not succeed, try your business loan application to another lender.

Mortgage financing is a serious business. It’s an investment that requires careful planning. Be careful when you use the documents. Ask negotiate any questions you have in mind and in your favor.