Alec Delayno Martin (Astyle Alive) is a successful serial entrepreneur who has been on the scene for more than ten years. He has successfully founded and run multiple ventures in marketing, fashion, real estate, and finance. His latest start-up, Tranquil Store, is a firm that offers premium CBD (Cannabidiol) products. They have a wide range of products that cater to everyone in society and they are set to transform the way we see the CBD sector.
De Layno has amassed a large amount of knowledge in running a successful business. He shares his top four handy tips in this article.
Giving Value to Customers:
The most important part of your business is how you help your customer. Your products and services must solve a painful problem for a specific type of person. For example, De Layno got the concept for Tranquil store from his own personal struggles with relaxation and sleep.
“After years of trying ineffective sleep aids and prescription medications with undesired side effects, we came across CBD and gave it a try. After doing my research & talking with others around, I realized many people struggled with stress, anxiety, and depression daily. Tranquil Store was started to help ourselves, friends, and now the world. Our products are available around the globe for everyone like us.”
Now, he has launched a store that has something for everybody facing the same category of problems that he did.
“ I offer a wide variety of quality premium CBD products, from Gummies to healthy CBD Granola bars, different tincture flavors, soft gels, and Lollipops. I’ll be changing the market soon with a new product that I can’t speak on too much. It is a surprise.”
Seeking help and mentorship:
De Layno has always surrounded himself with an ecosystem of friends and family that support his growth.
For an entrepreneur just setting up a business, don’t make the mistake of thinking you have to do everything by yourself. You can be self-made and still need help.
Reach out to the people who inspire you. Seek their counsel and help whenever you get stuck. Build models around existing businesses that you really admire and put your own unique spin on it.
Believing in Your talents:
Having an endless list of qualifications and certificates is not a guarantee for business success. Once De Layno graduated from high school, he knew what he wanted from life and he went after it.
Nowadays, college degrees are classified as great accomplishments. Many students enter deep holes of debts and spend most of their adult life repaying student loans.
If you have been blessed with a talent, focus on honing it. Take a journey to discover yourself and what makes you happy. Succeeding as an entrepreneur will not happen overnight, but it will be worth it at the end of the road.
Giving back to your community:
The primary responsibility of every successful entrepreneur is to give back to the community and support others who haven’t achieved what you have. DeLayno is involved in several philanthropic efforts, supporting several low-income families struggling during the pandemic. He also donates a percentage of his income to the Saint Jude Children’s Research Hospital, a medical facility for children battling cancer.
[QUICK GUIDE] How Much Does Home Warranty Coverage Cost? | Total Home Protection
The average cost of home warranty coverage is between $300 to $600 per year, or $25 to $50 per month (Total Home Protection sits neatly inside this average with plans that range from $500-$599 annually.) Although, you are also required to pay an average of $75 per service call visit. Note, costs may vary based on where you live and the level of coverage you want to place on your home.
As a quick review, the standard fees are as follows:
- Annual Payment: $300 to $600 per year
- Monthly Payment: $25 to $50 per month
- Service Call Fee: $75 per service call visit
Depending on your annual coverage limits, you may also have to pay for repairs that exceed your maximum coverage for a select number of items in your contract. The cost of this will depend on your home warranty coverage company. More on this below:
What is Covered by a Home Warranty Policy?
Home warranty coverage comes in many forms. And home warranty companies offer multiple plans in order to provide their policyholders as much value as possible.
In the case of Total Home Protection (THP), for example, CEO David Seruya describes their coverage plans as follows: “We offer two home warranty plans: Gold Plan and Platinum Plan. Both cover essential home systems and appliances; although the Platinum Plan supplies more extensive services.” THP’s coverage also extends its warranty to cover items despite the item’s age, make, or model, which means that they cover the cost of repair and replacements of all covered items, as long as the damages incurred are a result of natural wear and tear.
Is Home Warranty Coverage Worth the Cost?
To answer this question, let’s discuss the cost of repairs and replacements without home warranty coverage, which we’ve broken down below:
- Cost of Repairs: The cost of repairing damaged items in your home without a home warranty will vary based on the item damaged. As an example, however, the average repair cost of a dishwasher is around $100 to $200. Not so terrible, as a whole. But then, let’s look at the average repair cost of an air conditioner, which can cost up to $160 to $530! Or, the cost of repairing a water heater, which averages at around $200 to $900!
Handling one or two repairs per year for these appliances and home systems might not seem so bad for the short term. However, when you consider the average lifespan of these items—which is around 10-15 years each—you can start to see that there is definite value in having home warranty coverage. Especially for those with older homes or with more items to protect.
- Cost of Replacements: Borrowing from our previous examples: the average replacement cost of a Dishwasher is $300 to $600, replacing a water heater will take another $2,000 to $4,000, and a replacement heating system will cost a whopping $3,000 to $5,000.
Replacements aren’t required as often, of course. And, as mentioned, there are coverage limits that limit the amount of coverage you get per item, per year anyway. However, even when you consider these two factors, the value getting covered is clear when you compare the average cost of a home warranty ($500-$599 if you choose Total Home Protection) and the amount you’ll have to pay to replace one of the bigger ticket items in your home.
Review: Should You Purchase Home Warranty Coverage?
In the end, we’re left with one question: should you purchase home warranty coverage? Unfortunately, only you will be able to truly answer this. The average cost of a home warranty is $300-$600 per year, and that comes with more than $20,000 worth of coverage for your home per year.
Remember that, and then estimate the average cost of repairing or replacing the items in your home based on their average lifespan, and then compare that cost to the annual cost of home warranty coverage.
And, once you’ve got that all figured out, we recommend that you reach out to a home warranty provider like Total Home Protection, who can give you a personal quote on the best plan and the best coverage for you based on your budget and your home. They should be able to address any questions or concerns that you might have as well. And would be more than happy to help you through the process of understanding what exactly you’re signing up for.
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