We all know patience is a virtue — but it’s a challenging lesson to remember when bill collectors are breathing down our necks. Our clients have rent to pay and families to feed, so they naturally want to resolve their cases as quickly as possible. But as tempting as it may be to take the money and run, we’ve seen countless instances where holding out for a better offer has set our clients up for improved long-term success. In September of this year, we settled a case for $1.5 million. In March of 2021, our client, a bicyclist, had his leg pinned against a parked car by a delivery truck with a significant insurance policy. He was severely injured, suffering from a broken leg and requiring multiple surgeries, leaving him with permanent nerve damage and scars. The insurance company tried to offer a million-dollar settlement in February of 2023. That’s a large amount of money, and our client was eager to settle. However, we knew the value of his injury was more and urged him to wait. We’re sure it wasn’t easy for him to take our advice. As predicted, with time, as we inched closer to a trial date, the insurance company came back to the table and increased its settlement offer by an extra $500,000. That increase will go far for our client. While our client has permanent injuries, the money he received will help ensure he can adequately care for himself in the coming years. A two-year turnaround for a personal injury case of this value is relatively swift, but we know it didn’t feel that way to the client. Two years is a long time when your life has been turned upside down. Insurance companies use this fact to their advantage and often try to save money with lowball offers when a plaintiff is out of work to see if a plaintiff is desperate enough to accept. Experienced personal injury attorneys are familiar with these types of dirty tricks. So, we urge you to trust your attorney’s guidance and let them work through the process. It’s never our intention to drag out the settlement process unnecessarily. Instead, we want to ensure you never leave money on the table — because we know that an insurance company’s first offer is rarely its best. HOW SETTLING EARLY MAY SHORTCHANGE YOUR FUTURE Patience Pays Off
As a business owner, you’ve likely spent a lot of time working to improve your business. You’ve read business books and attended seminars to enhance your skills. Occasionally, you learn something revolutionary that allows you to implement practices that make your company more profitable. Brian Tracy, CEO of Brian Tracy International, is no stranger to offering revolutionary business advice. He founded his company nearly 40 years ago, which provides counseling on leadership, strategy, creativity, and more. If you haven’t read anything by Tracy or heard him speak, you’re missing out on valuable business advice. Tracy recently unveiled his three rules for business success. By following these rules in your own business, you can reach new heights and accomplish your goals. QUALITY IS MORE IMPORTANT THAN COST. The big question: Do you cut costs and offer a lower- quality product, or do you deliver a high-quality product that’s more expensive? Tracy recommends providing a higher-quality product every time. If you make a cheap product and sell it for a low price, the customer will be happy at first to get a great deal, but their joy will fade as the product starts to wear down. This is how customers look at your business. FOCUS ON REVENUE GENERATION INSTEAD OF BUSINESS COSTS. It costs money to run a business, but you should not focus solely on money leaving your bank account. Start building plans to create revenue that covers your business’s expenses. Part of the reason you started your business was to make money, so start making money! Focus on creating sales and operation processes that align with your company values and promote more business. Doing so will offset the costs of doing business while bringing in more revenue that can be used to grow your company. THERE ARE NO OTHER RULES! According to Tracy, no other secret rule will bring success to your business. If you put quality first and focus on revenue generation, you can grow a profitable company. Master These 3 Simple (But Critical) Rules Want to Grow Your Business?
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