Successful contractors work with attorneys to draft contracts and waivers that will hold up in court, and they back these up with the right business insurance policies. There are a number of risks to a construction business that can be minimized with the right insurance coverage and surety bonds. They protect their business assets, personal assets, tools and equipment, employees, and vehicles with coverage policies that can shield them from lawsuits, accidents, and disasters.
Safety is a huge risk that all contractors and subcontractor must face daily. Your employees are at risk from working conditions, materials, supplies, and even tools and equipment while on the project. If your employee is harmed while on the job, they will come to you for help with medical expenses. You could also face legal action and fees if you have failed to provide a safe working environment.
Workers' comp insurance , specific safety processes, and agreed on procedures help successful contractors avoid these sad safety scenarios. The most successful companies have a plan in place for when they do.
Fires, floods, earthquakes, vandalism, and theft can happen on any project you are working on. This gives them a sense of achievement and happiness that fulfills their definition of success.
Covey emphasizes that our self-awareness empowers us to shape our own lives, instead of living our lives by default or based on the standards or preferences of others. The trend has only continued as Musk grew older. Join Now. Your business can only be in good shape if you are, too. Take a look at the following chart:. Get lost in books that will expand your horizons and give you new insights and ideas.
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There's no secret recipe that will make you a successful person, but these seven strengths and habits can greatly increase your chances of success. Next Article -- shares Add to Queue.
Image credit: Thomas Barwick Getty Images. Debbie Allen. VIP Contributor. November 6, 4 min read. Opinions expressed by Entrepreneur contributors are their own. More from Entrepreneur.
Get heaping discounts to books you love delivered straight to your inbox. Sign Up Now. Jumpstart Your Business. This is where you put relationships in the center of your life.
This is your decision to cultivate within yourself the habits of patience, kindness, compassion, and understanding. Virtually all of your happiness in life will come from your ability to get along well with other people.
The good news is that you can become a wonderful human being in your relationships with others when you decide to. As Aristotle said, the only way that you can learn any habit is by practicing it on a regular basis. The more you practice being a truly excellent person in your relationships with others, the more you will internalize those qualities and actually become that person. Focusing on being more pleasant with the people in your life is a great technique to promote a positive thinking lifestyle.
This means that you must fastidiously watch your diet, and always eat the right foods in the right portions.
And finally, you must have good habits of rest and recreation that will enable you, in combination with diet and exercise, to live out your years in a healthy state. Remember, your health is the most important single thing you have, and it is completely subject to the habits that you develop with regard to the way you live. In the final analysis, the character you develop as you go through life is more important than virtually anything else. You are completely objective with yourself and with the world around you. You set very clear values for yourself and you organize yourself around your values.
You develop a vision for yourself and then you live your life consistent with your highest ideals. You never compromise your integrity or peace of mind for anyone or anything.