Tuesday, March 23, 2010

Running your own business is always going to be full of challenges and surprises.
Being able to roll with the punches while remaining calm and clear-headed under stressful situations is imperative to your success, and once you’ve learned to mastered this specific skill set there will be no obstacle that you cannot overcome.

Last week, I had one of these unplanned instances happen.
During one of the worst storms NJ has seen in years, a neighbor’s tree came crashing down on one of my duplexes, smashing through the roof and causing tremendous damage.
To make matters worse, I started construction on my most recently purchased duplex that same day and had a truck load of material being delivered that very morning!

I had to remain calm, and decided to write a punch list of my priorities, given the circumstances:

  1. Relocate the government-subsidized tenant to a safer location
  2. Call the City of Paterson to check if there were any mandated laws I had to comply with for securing the property
  3. Call my insurance company to report the claim
  4. Arrange several contractors to bid on the job for tree removal and necessary house repairs
  5. Find and contract a reputable independent insurance adjuster to help me with my claim
  6. Contact Section 8 offices to inform them of the situation and to arrange a Section 8 inspection
  7. Make sure that the Lowe's delivery to my new project was handled and received correctly

I then went about executing this punch list in order, one by one.

I had the tree removed by the lowest biding contractor.
I met with a insurance adjuster, who was highly recommended by a colleague.
I drove the tenant to a family member and agreed on subsidizing her with $35 per night until her home is deemed safe by Section 8.
I arranged a re-inspection with Section.
And lastly, I had the delivery pushed back to a later hour so that I could be there to receive the shipment.

Each obstacle was easy to triumph over because I was able to remain calm and had all of the necessary contact information readily organized for situations just like this one.








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