
Homeowners Insurance Rates Are Rising. What Does That Mean for You?
Homeowners insurance rates are climbing fast. Learn what’s driving the surge and how it could impact you.
David Booth is the Founder and Chairman of Dimensional Fund Advisors. Following are some of the lessons that have guided him since starting the company in 1981. Not only how he has approached running a business, but also how he has thought about investing. Booth says “these lessons aren’t a road map or a prescription, but they’re ideas that have helped me make decisions when the path was unpredictable.”
1. Make Life Better for Others
Success does not have to be a zero-sum game. When you win, someone does not have to lose. The best opportunities in business and investing come from creating value for others. Good products and services can improve lives in both big and small ways, building trust, fostering loyalty and laying the foundation for lasting success. True progress comes from embracing abundance and prioritizing win-win solutions that benefit clients, employees and society alike.
2. Build on Ideas That Are Bigger Than You
A business built on strong principles has the potential to outlast any individual. Creating a culture rooted in shared values can guide decision-making and help navigate change. When you focus on ideas that are bigger than the firm itself, you may increase your chances of creating something that lasts.
3. Only Sell Shoes That Fit
Understanding your clients’ needs matters more than selling a product. That is a lesson I learned in high school when I worked at Arensberg’s Shoes in Lawrence, Kansas. Focus on providing tailored solutions and let your clients decide if what you are offering is right for them. In other words, be in the business of solving problems, not just selling products. This approach has helped build meaningful relationships with the people we serve.
4. Choose the Right Path
Building a successful business means making a lot of decisions, from the mundane to the momentous. That is why it is so important to have a framework you believe in for evaluating your options and choosing the best path forward, which may or may not be the most lucrative one. The key is to avoid cutting corners at the expense of quality. Sometimes the right path is the easy path. (I love it when that happens.) Other times, the right path may take more work initially but will be worth it down the line. Focus on making the most informed decision you can, and then you can relax knowing you did the best you could with the information you had. At Dimensional, we often say, “Do the right thing. Do it the right way. And do it right now.” It is a simple but powerful reminder of how important today’s decisions are.
5. Control What You Can Control, And Manage What You Cannot
In both investing and business, there is plenty you cannot control. Markets fluctuate, industries change, and unexpected events happen. But the factors you can control (like your culture, the quality of your service and how you treat people) make all the difference. Worrying about what is outside your influence often wastes time and energy, but managing what you cannot control means preparing for uncertainty, staying disciplined and building systems that can adapt to change. By focusing on what you can control and managing what you cannot, you position yourself for enduring success, no matter what comes your way.
6. Plan, Do Not Predict
Trying to predict the future is often a waste of time. Instead, I have found it far more productive to prepare for a range of outcomes. Building disciplined systems and robust processes that account for uncertainty can create a framework for resilience. Good preparation often beats good guessing.
7. Be Flexible
While it is important to have principles and discipline, flexibility is key to navigating a constantly changing world. Markets evolve, industries shift, and client needs grow. Adapting to these changes and staying open to new opportunities can be the difference between thriving and falling behind.
8. Harness the Power of Compounding
Success in both business and investing is not about chasing quick wins. It is about making consistent, high-quality decisions that compound over time. Small, thoughtful actions (whether improving processes, developing employees or building strong relationships) create momentum that leads to transformational results. At the same time, it is important to judge yourself not just by outcomes, but by the quality of your decisions. Were your choices thoughtful? Were they aligned with your values? By staying disciplined and letting compounding do its work, you set the foundation for lasting success.
9. Tune Out the Noise
In both investing and business, there is no shortage of distractions. Staying disciplined by focusing on what truly matters has helped me avoid reacting to short-term pressures. By tuning out the noise, you create space for thoughtful decision-making that aligns with your long-term goals.
10. Cultivate Human Ingenuity
I have always been amazed by what people can achieve when they’re empowered to do their best work. Attracting great talent, fostering creativity and encouraging curiosity are some of the most rewarding aspects of running a business. Markets thrive on ingenuity, and businesses do, too.
This article originally appeared in Inc.
DISCLOSURES
The information in this material is intended for the recipient’s background information and use only. It is provided in good faith and without any warranty or representation as to accuracy or completeness. Information and opinions presented in this material have been obtained or derived from sources believed by Dimensional to be reliable, and Dimensional has reasonable grounds to believe that all factual information herein is true as at the date of this material. It does not constitute investment advice, a recommendation, or an offer of any services or products for sale and is not intended to provide a sufficient basis on which to make an investment decision. Before acting on any information in this document, you should consider whether it is appropriate for your particular circumstances and, if appropriate, seek professional advice. It is the responsibility of any persons wishing to make a purchase to inform themselves of and observe all applicable laws and regulations. Unauthorized reproduction or transmission of this material is strictly prohibited. Dimensional accepts no responsibility for loss arising from the use of the information contained herein.
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DISCLAIMER
Shore Point Advisors (TM) is an investment adviser located in Brielle, New Jersey. Shore Point Advisors (TM) is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Shore Point Advisors (TM) only transacts business in states in which it is properly registered or is excluded or exempted from registration. Insurance products and services are offered through JCL Financial, LLC (“JCL”). Shore Point Advisors (TM) and JCL are affiliated entities.
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