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| INSURANCE |
| Pets at Work: Animal Lover's Dream or Liability Nightmare? |
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Americans love their pets. In fact, pets have become such a part of our lives that we celebrate National Bring Your Pet to Work Day each June. Some employers are even known for making this a year-round event. Corporate giants Amazon, Google, and Salesforce all have open-door policies for employees' dogs.
But is this a good idea for your small business? That depends. If you want to make your company paw-friendly, it's important to keep PUPS in mind.
Property damage: Allowing animals in your work space increases your risk for property damage. From chewing to scratching to surprise restroom breaks, pets can wreak havoc on your surroundings. It's important to weigh these risks with the benefits.
Unproductive workforce: The presence of animals could increase morale and improve productivity, or it could have the opposite effect. Employees
might be distracted with pet care. Others might not be fans of animals or may suffer from allergies.
Personal injury: Bites are the obvious concern if dogs are in the workplace, but scratches, allergic reactions, and trips-and-falls are also possibilities.
Standards: If you rent your office space, you must adhere to the regulations established by your landlord. Your lease may have a standard no-pet policy. Be sure to check this out before you decide to put out the animal welcome mat.
As you determine your pet policy, consult with your insurance agent to determine whether these pet-related incidents are covered under your property and liability policies. |
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| HOT BIZ TRENDS |
| Small Businesses Go Big with Augmented Reality |
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According to Wikipedia, "augmented reality (AR) is a live direct or indirect view of a real-world environment in which elements are augmented (or supplemented) by computer-generated sensory input such as sound, video, graphics or GPS data."
Unlike virtual reality, which creates an entire virtual environment, augmented reality layers in existing reality to create a virtual experience.
For example, a contractor, real estate agent, or interior designer can use AR technology to take clients on an interactive 3D tour to demonstrate what an interior, a renovation, or a home improvement project might look like when completed.
In retail, AR technology enables try-and-buy experiences in which customers can view items, virtually try on clothes, and even customize products using videos and image overlays.
AR apps can take potential travelers on virtual tours, showing computer-generated views of cities, hotels, and potential travel sites. They
can also provide personalized itineraries, maps, and recommendations about restaurants and points of interest.
Using AR, a customer can scan an item on a shelf with a smartphone and obtain immediate information about the product, including reviews and specs. Not only does this enable the customer to make an informed purchasing decision, but it also reduces the likelihood that the item will be returned.
As AR technology becomes increasingly feasible for small and medium enterprises, it opens the door to promising opportunities for small businesses. Many companies are capitalizing on its immersive, fun, engaging potential to attract customers and increase sales.
By implementing this innovative technology, small businesses are able to stand out among same-size companies and can even start competing with bigger brands. |
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| LEADERSHIP |
| Want to Lead Your Team to Success? Try Serving |
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Traditionally, business leadership starts with the owner and cascades down to frontline employees. But there is another style of leadership, servant leadership, which inverts this structure and puts employees at the top of the pyramid. Through personal growth, these workers then become more productive and more servant-like themselves.
A servant leader's priority and foremost responsibility is to help the people who work under him or her to learn, grow, and become more autonomous. The tenets of servant leadership include personal accountability; openness to feedback; continuous learning and skill-building; ownership of the role; owning responsibility of the job; and a commitment to coaching and developing others.
Servant leadership principles can transfer to any business in any industry. It is a planful model that is governed by reality and measured with objective goals in each area of the company.
The model recognizes that no single
individual acting alone can deliver superior performance. Business success requires everyone to participate with passion and integrity and live up to their commitments. This is why true servant leaders invest heavily in training, mentoring, and building leaders who, in turn, become coaches to other people.
For business owners, servant leadership offers an opportunity to influence and change lives for the better. Plus, once the philosophy takes hold, the company excels due to employees' dedication and engagement.
A number of organizations have adopted this leadership model and, in some cases, the results are impressive. Many have found that employees' passion drives better performance and superior results. |
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| INSURANCE |
| Top 10 Small-Business Insurance Claims |
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There's a common mentality among insurance policy holders: "It's a fail-safe, but I probably won't need it." Perhaps it's denial, or perhaps it's part of a natural self-preservation mentality. For whatever reason, many assume insurance is "for the other guy." Someone else may need to make a claim someday, but I probably won't.
While it's good to take steps to reduce the likelihood of claims, it's also good to know that many small businesses do indeed rely on their insurance coverage for incidents. In fact, a study by financial services company The Hartford revealed that 40% of small businesses incur property or liability losses each 10-year period. What types of losses are businesses experiencing? Here are the top 10 insurance claims they make (and some tips on how to avoid them).
1. Theft: The top reason for small- business claims is
burglary and theft. Some of these crimes are committed by outsiders. Others are the result of dishonest employee activity. Strong, consistent security measures and employee accountability can reduce the chances of these claims.
2. Water: Coming in second is damage caused by water from roof leaks, snow, ice, and frozen pipes. To minimize the risk of water damage, inspect roofing and plumbing features and perform maintenance regularly.
3. Wind: Hail and wind damage are frequent culprits when it comes to small-business damage. These elements can destroy equipment, buildings, and commercial vehicles. To protect assets, store vehicles and equipment indoors as much as possible.
4. Fire: Don't underestimate the destructiveness of this force. Fire can cause major property damage and even wipe out a business. Always follow fire safety guidelines to ensure warning, extinguishing, and evacuation measures are up to date and fully
operational.
5. Accidents: Customer slips and falls take the number five slot. Some businesses are more vulnerable to this risk than others. To minimize risk, keep interior and exterior walkways free of ice, water, debris, and damage.
6. Injuries/Damage: In addition to slips and falls, customers sometimes sustain other injuries or damage to their property. Establish protocols for creating a safe environment to reduce the chances of these occurrences.
7. Liability: Businesses that sell products run the risk of product liability claims. Perform proper testing before releasing anything to the public. Ensure consumer warnings and warranties are worded appropriately.
8. Objects: Some claims are the result of injuries caused by moving objects. Customers or employees may be struck by falling products, mobile equipment, or vehicles. Again, solid safety protocols can help keep your work environment
accident-free.
9. Libel: A third party may sue a business for reputational harm. These claims resulting from libel and slander suits don't account for a huge proportion of claims, but they still make the top 10. Businesses should use caution when mentioning anyone in media reports or marketing efforts in order to reduce the likelihood of libel claims.
10. Vehicles: Auto accidents complete the list of top small-business claims. To prevent these, small-business owners can enact a vehicle safety program. Proper training and qualifications for commercial vehicle operators is key. Is your business prepared for these incidents? Do you have the appropriate policies in place? If you're unsure, contact your insurance provider to review your policies and make sure your company is covered. |
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Scott Johnson
The Healy Group
17535 Generations Drive
South Bend IN 46635
574-276-6131 Cell
574-271-6000 Office
574-243-3214 Fax |
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| www.healygroup.com |
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| navigator@healygroup.com |
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| How to Win Big in Today's Economy |
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| The altered economic landscape presents innovative and nimble businesses with opportunities to thrive. |
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| Find out how by requesting my free report "How to Win Big in Today's Economy" by replying to this email. |
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| Just reply to this email and I'll send it right out to you. |
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| Worth Reading |
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Is LinkedIn Poised to Be the Next Big Social Network ... for Brands?
By Ryan Holmes |
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Forbes
Instagram and Facebook might get more attention (Celebrity influencers! Political scandals!), but, as this article points out, LinkedIn has quietly cemented itself as a social media tour-de-force. With 500 million members, most of whom are
engaged business professionals, LinkedIn could be the next big marketing tool for brands, and one that nets tangible results.
5 Ways Smart People Sabotage Their Success
By Alice Boyes
Harvard Business Review
Natural intelligence is a gift that can help us excel in life. But intellect on its own is not enough to guarantee career success. This article describes how
smart people often sabotage their own success through behaviors such as ignoring relationship-building, letting boredom take over, and becoming frustrated with teamwork.
Why You Can't Multitask
By David Burkus
Psychology Today
The pace of life seems to be ever quickening, and, as a result, our worth often becomes tied to our productivity.
Completing multiple tasks all at the same time is a prized skill. It's also impossible. This article discusses why, as research has shown, humans aren't wired for effective multitasking. Trying to complete two or three tasks at once is more like a juggling act in which progress is happening slowly or one ball gets dropped. |
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LINKS YOU CAN USE
This Month-Business Growth |
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Increase sales revenue. Launch more product lines. Expand to new markets. What dreams do you have for your business? If growth is on your goal list, use the following resources to propel your business onward and upward:
Want to move from small shop to growing enterprise? Here are six things to avoid and six skills you need:
6 Skills That Help You Pivot From Small Business To Growth Venture
Scaling a business is challenging. Use these tips to create a core strategy that works:
15 Ways to Grow Your Business Fast
Is your business growing faster than you expected? Learn how to manage this rapid expansion:
5 Strategies for Managing Rapid Growth
To achieve growth, you need all elements of your business to work together. Find the resources to create a well-oiled machine here:
These 10 Small Business Growth Tips Will Take You from Novice to Expert
Business growth requires short-term, mid-term, and long-term planning. Here's the breakdown:
13 Tips and Tactics to Propel Your Small Business Growth |
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