The term “intellectual property” applies to more than just a copyright. Here are some questions for companies to consider about their IP when security is a concern.
Q. What is considered intellectual property but is often overlooked when deciding what to protect?
A. When people think of intellectual property, they most often think ’patent’ or ‘copyright.’ There are other forms. One that’s often overlooked is trade secrets.
As noted in an influential restatement of the law, a ‘trade secret is any information that can be used in the operation of a business … that is sufficiently valuable and secret to afford an actual or potential economic advantage over others.’ They take a wide variety of forms, including product formulas, data compilations, customer lists, manufacturing techniques and other types of business know-how.
Q. How might a company’s trade secrets be vulnerable?
A. A business has to identify its trade secrets before it can protect them. Common sense goes a long way here. Business owners should start by asking, ‘What does my business do better than the competition, which the competition doesn’t know about?’ The answer might qualify as a trade secret.
Q. What policies or procedures should a company put in place to protect its trade secrets?
A. There are no hard and fast rules, but a business must take ‘reasonable steps’ to protect its secrets. This could include password-protecting computers, limiting access on a need-to-know basis, keeping documents under lock and key, and/or requiring employees to maintain secrecy during and after employment.
Q. How has social media affected a company’s ability to protect its trade secrets?
A. It has made it more difficult for businesses to argue that it has trade secrets — a point underscored in Sasqua Group Inc. v. Courtney, No. 10-528, 2010 WL 3613855 (E.D.N.Y. Aug. 2, 2010), where the court held that compiled customer data was not a trade secret because the information was also available on the Internet and social media sites.
There are no easy answers, but one thing seems clear: Businesses must take care when posting to social media sites and educate employees about using social media sites.
P. Andrew Fleming is a partner with Novack and Macey LLP. He represents individuals and small, midsize and large companies in complex commercial litigation.
Shelly Sun was quite confident that BrightStar Care would emerge from the 2008 recession intact and ready to grow. The challenge was convincing employees and franchisees that the health care staffing solutions provider could achieve such a daunting goal.
“Access to financing to start franchisees had dried up and was completely unavailable,” says Sun, the company’s co-founder and CEO. “That meant our ability to grow and add new franchisees to fund improvements in our system had declined.”
As a CPA, Sun decided to put her experience in the financial realm to use and tackle the financing issues. She asked her franchisees and employees to look at what they could do to increase efficiency on their end.
“I really empowered my team to take on those initiatives and work with the franchise advisory council on key sets of goals that were going to move the profitability and top-line elements of the model forward while I focused on capital access,” Sun says.
Through it all, Sun demonstrated her confidence. But it was the steps she took and the action that followed her words that enabled everyone else in the organization to feed off of that confidence and become believers themselves.
“It’s really important to spend time helping every employee understand what makes a business tick and how their role in the greater ecosystem can make a difference every day,” Sun says.
The result of the collaborative effort is a company that has bounced back and is poised to grow from 250 to 300 locations by the end of 2013, including new locations both in the United States and overseas. BrightStar has about 60 corporate employees and 25,000 employees in its overall system.
Sun says a key to BrightStar Care’s continuing success is a culture that has prepared employees to be ready to adapt.
“We’re rarely doing the same thing three months from now that we were doing three months ago,” Sun says. “We’re just not that type of culture. We’re an ever-changing culture. We believe the way to be the leader in this industry is to continually be improving what we do and the outcomes we deliver for the franchisees and consumers we serve.”
Here are some of the ways Sun uses employee engagement to help BrightStar succeed.
Focus on solutions
You’ve got to empower employees and give them opportunities to discover the solution to problems on their own. But that doesn’t mean they have to be completely on their own. Whether it’s you or a supervisor, employees who are developing still need the support.
“I use a 1-3-1 approach with my people,” Sun says. “For every one problem that they have, they need to bring three possible solutions and one recommendation. If someone walks up to me with a problem, I’ll say, ‘OK, great. Go think about that problem a little more. Think of three possible solutions and a recommendation. Then let’s sit down and talk about it.’
“I won’t let you follow through with a poor recommendation. It’s likely one of those solutions or a combination of them is going to get us there. We continue to reinforce that thought process, engagement and ownership at the employee level. We have every manager within our organization do that with their people.”
It’s easy to talk about, but Sun says it’s often much harder to follow through when the pressure is on and it feels like a problem needs to be solved right now.
“What’s hard for most leaders, and I’m no different, is it’s often faster to solve a problem for an employee than it is to let them think it through on their own,” Sun says. “But the outcomes are so much more sustainable for me in following that 1-3-1 approach wherever possible.”
Another thing to keep in mind is that delegation can come with urgency. If something needs to be done more quickly, tell the person that they need a solution tomorrow instead of next Wednesday.
The key is to make sure on an ongoing basis that you’re making time for your people, specifically your direct reports, to help them and to support them in helping their team members.
“I block time on my calendar so that 10 percent of my time is spent with each of my five direct reports,” Sun says. “When I lose sight of that because of other things going on, the ripple effect of that will begin to show up two to four weeks later. ... Make sure you’re dedicating time to your people.”
Keep looking for talent
Sun loves to see people who are already on the team blossom and fulfill or even exceed their potential. But she’s always keeping her eyes open to bring new people in who can join the team and make the company even better.
“I won’t go recruit a specific individual because I likely know their peers or their boss and so that would be inappropriate to do that,” Sun says. “But I might post on my LinkedIn status that we’re seeking a new director of field support for the West region. And within 12 hours, I might have eight people who are in my network reach out to me and say, ‘I’ve been waiting for an opening to work for BrightStar. You guys have such a great reputation.’”
The key to generating those kinds of feelings about your business is to have a strong culture where employees are eager to welcome new people aboard.
“It’s important externally for the leader to be very articulate about the vision and strategy of the organization,” Sun says. “It’s equally important, if not more important, to be able to do that internally so employees understand where they are at is the best company they could possibly work for. That way, they are talking to friends and family about how great it is to work at BrightStar. That’s how you get great future employees.”
Sun says networking isn’t just about talking to people about job openings that you have today or will have tomorrow.
“You never know where an opportunity is going to arise or what a relationship is going to lead to,” Sun says. “We all have a lot to learn from one another, and we need to enjoy that journey along the way.”
Make your company desirable
You’ve got to think beyond what you do each day to crank out your products and services. Who benefits from the things your company makes? What difference do your employees make in the lives of others? Those are things you need to think about if you want to build a strong culture that can withstand challenges like a recession.
“You need something that people are looking to get behind,” Sun says. “If they are a really talented individual, salary usually isn’t the reason people take jobs or keep jobs. They want to respect the company that they work for. They want to be proud to talk about it with their family at the dinner table. They want to understand where and how they are going to grow with the company.”
Don’t be mysterious about your company’s growth plans. Be clear about the plans and clear about what steps employees can take to be part of those plans.
“What’s the future state of the organization?” Sun says. “Is it planning to grow, add new business lines and new brands? If exceptionally talented people come in at a lateral level, do they have the opportunity once they prove themselves to move up because the company is going to be different and growing and expanding in future years?”
While a good culture alone isn’t enough to drive a company to success, a bad culture can easily poison a workplace and make it nearly impossible to succeed.
“You’re not going to keep the best people if you’re telling them from A to Z what to do and you’re not empowering them to make their own impact and their own difference every day,” Sun says. “As the leader, I set the direction and the vision clearly enough where they can tell it’s Swiss cheese. But I’ve empowered them well enough to be able to know that they have a significant role in plugging those holes.”
And when the times turn tough, show faith in your employees that they have what it takes to pull your company through to the other side.
“Our people saw we were in it with them and we weren’t cutting people,” Sun says. “That empowered our people to want to go even further than the extra mile. We would remain loyal to them and they would remain loyal to us and give us the extra effort to help our franchisees succeed and get to the other side, no matter what that took. They knew we were making sacrifices to not cut staff to keep our profits in line with where they had been historically and let profits suffer.”
How to reach: BrightStar Care, (866) 618-7827 or www.brightstarcare.com
The Sun File
Shelly Sun, co-founder and CEO, BrightStar Care
Born: Knoxville, Tenn.
Education: Bachelor’s degree in accounting, University of Tennessee; master’s degree in accounting, University of Colorado
What was your first job?
I worked in a shoe store, Franklin Shoes. I spent every paycheck on shoes. I’ve had a strong work ethic from a very young age, and I’ve always had a shoe fetish, too.
Who has been your biggest influence?
My father was a very strong workaholic and entrepreneur, so I always saw the work ethic and determination. But for me, it’s about trying to balance having both the success that a great business can deliver while also having people like and respect me — respect being more important. That includes my own family.
Who would you like to meet and why?
Marshall Goldsmith. He’s one of my favorite authors and has written some of the most impactful business books for me personally — being able to take some of what he has written for everyone and be able to talk about my specific circumstances as a leader in my organization. It allows me to look at how I could more specifically apply great leadership principles that have been helpful in the abstract, but would be even more helpful in the specific.
Give employees a chance to solve problems.
Articulate your strategy.
Make your company a great place to work.
A healthy and growing organization proactively plans for succession and transition. It’s simply the nature of business. As my company recently celebrated 25 years, we turned our focus to purposeful succession. I wanted to share with you the key steps involved, the importance of planning and a few things I’ve learned along the way.
1) Get the next generation involved.
As your company grows and develops, it will become increasingly important to begin transitioning leadership to the next wave of leaders. This process will look different for each individual company. For me, it means moving away from our entrepreneurial leaders (generation one) to our professional, internationally focused leaders (generation two).
Be sure to constructively build on the strengths of each generation and tap into the energy, passion and vision of your current leaders to fuel the transition and create an even better future for your business.
2) Shift your board’s focus to policy.
When your board members focus on operations, they are participating in the day-to-day management of the organization. As you prepare for purposeful succession, the focus should shift to policy where they enact and enforce policies, which broadly govern the business. This move helps your organizational governance become more formal through the creation of an entity that protects your company’s health and well-being.
3) Select the next president and
his or her successor.
Your policy board has one critical succession responsibility: to choose the next president and his or her successor. It’s important to remember that the board’s succession responsibilities end with choosing the president. It is the new president, not the board, who has succession responsibility for the executive team.
4) If it’s a family business,
address the family estate plan.
This plan is critical to any successful generational transition but admittedly can be uncomfortable and awkward to deal with. Questions that need answers are akin to personal estate planning when the attorneys ask, “Who gets custody of your kids?” In family businesses, the first difficult question is, “Do we have a competent family member successor, and, if not, who gets custody of the business?”
Purposeful succession plans set the groundwork for the unplanned successions, which is important because once you have carefully laid out your plans, you may think, “What could go wrong?” But, the reality is whether due to illness, disability, death or any number of other scenarios, unplanned succession is a part of life.
When these challenging events happen, they create an extremely high level of emotion, distraction and added workload, in addition to leadership style changes. They also tend to cause anxiety in the organization’s employees, vendors and partners. As a result, in this “unplanned” scenario, these anxieties must be addressed directly and immediately by an already overburdened executive team.
With that in mind, let me leave you with this: The only difference between planned succession and unplanned succession is the amount of time you have to deal with the situation.
In the case of an emergency succession, communication with employees, vendors and partners begins immediately and must be completed within a couple of weeks. In a planned succession, the communication time is only slightly extended to a couple of months. The exact same emotions and distractions are present in both scenarios — the only difference is the level of intensity.
Joseph James Slawek is the founder, chairman and CEO of FONA International, a full-service flavor company serving some of the largest food, beverage, nutraceutical and pharmaceutical companies in the world. For more information, visit www.fona.com.
To avoid elements of the Patient Protection and Affordable Care Act (PPACA) adversely affecting fully insured health plans, growing numbers of employers — especially smaller ones — are self-funding their plans.
“The problem is that everybody has been in a wait-and-see mode for two years, but now we’re starting to see the impact,” says Mark Haegele, director, sales and account management, at HealthLink. “I expect a lot of fully insured employers to make a change this year, mid-year. There are just so many compelling reasons to entertain it because self-funding policies still protect small employers and allow them to avoid many forthcoming taxes and rules.”
Smart Business spoke with Haegele about why the PPACA has prompted more employers to explore self-funding or partial self-funding.
How does medical loss ratio (MLR) reporting drive employers to self-funding?
MLR reporting requires insurance companies to spend 80 or 85 percent — depending on their size — of premiums received on health care claims. Plan administration, such as overhead, payroll, sales efforts, network contracting, etc., comes from the remaining 15 to 20 percent.
MLR gives insurance companies an incentive to squeeze administrative services to make more profit. Some insurance companies have changed staffing and service models. One company had service people out to help with claim issues and problems for different segments — health insurance groups with two to 40 members, and 40 to 100 members. They recently bundled the segments into one, cutting staff and decreasing field service.
What will community rating rules do to health care costs?
Effective Jan. 1, 2014, insurers must comply with community rating factors based on geography, age, family composition and tobacco use. This means all fully insured small employers in an area or industry will pay the same for premiums. The idea is to get everybody to an affordable and stable price point, but many fully insured groups will be hit with big increases.
Here’s an example: in Missouri and Illinois, groups of fewer than 50 employees will be underwritten based on community rating rather than the specific group’s risk. A small, healthy employee group in Chicago can expect a 173 percent increase in 2014, according to the American Action Forum Survey of Insurance Companies. At the same time, a small Chicago group with older, less healthy members could have its premium decrease by 21 percent.
Under self-funding, healthy small groups are able to maintain rate stability based on the health of their own population.
How will the insurance tax affect health premiums for fully insured employers?
Starting in 2014, insurance carriers will be assessed a tax, projected to be $8 billion to $12 billion. The federal government will use this money to subsidize poor uninsured. However, insurance is a cost-plus business, so carriers will pass this on to employers. It’s still unclear how much the fully insured’s premium will increase as the tax is shared across the industry; it depends on your insurance company’s market share.
How will minimum essential benefits make self-funding more attractive?
Fully-insured plans sold in the small group market — fewer than 50 employees for Missouri and Illinois — will be required to limit annual deductibles to $2,000 for single coverage and $4,000 for family coverage, as of Jan. 1, 2014. This places upward pressure on premiums. If your current deductible is greater than $2,000, in order to decrease it premiums will go up because the insurance company faces more risk.
Also, for the past five years, many small employers’ deductibles have increased, which keeps premiums down, but employers haven’t passed it on. For example, because most members don’t use their deductibles, the employer could give employees a $1,000 deductible and use self-funding to cover the gap for the remaining $4,000 when the insurance company requires a $5,000 deductible to keep premium increases low.
Small employers could consider a self-funded platform in order to maintain their current deductible and keep rates stabilized.
Mark Haegele is a director, sales and account management, at HealthLink. Reach him at (314) 753-2100 or firstname.lastname@example.org.
VIDEO: Watch our videos, “Saving Money Through Self-Funding Parts 1 & 2.”
Insights Health Care is brought to you by HealthLink
Most businesses have ‘comprehensive’ insurance policies that cover damage to the company’s physical assets and protect against third-party bodily injury or tangible property damage claims against the company. But this traditional coverage generally does not fully protect against losses related to intangible assets, like computer-stored data and intellectual property.
“Businesses need to be aware of this exposure and consider specific coverage designed for their individual business needs and risks,” says Steven J. Ciszewski, a partner at Novack and Macey LLP.
Smart Business spoke with Ciszewski about where comprehensive polices might fall short and how to plug the holes with additional coverage for your business’s needs.
What types of coverage are available for computer-stored data and other cyber risks?
Some aspects of computer- or data-related losses might be protected by commercial crime coverage that applies when a third party or employee commits a crime or fraud directed at your business. This coverage can be an add-on to a general commercial policy or a stand-alone policy. Beyond that, many insurers offer both first-party and third-party coverage dedicated to computer and cyber risks. First-party coverage typically pays for costs incurred if your computer network or data systems suffer a catastrophic failure. The coverage might pay for costs incurred to restore your network and data, and/or the lost profits suffered because your business lost the use of its network and data. Third-party coverage protects against liability claims arising out of computer or cyber risks — for example, claims arising out of a breach of your network security. In the event of a breach, confidential customer information could be exposed or stolen. Third-party coverage would cover those claims and pay damages suffered by customers, pay for customer notification, and fund a credit-monitoring program for the affected customers.
What coverage is available for intellectual property?
Increasingly, courts have found that trying to secure coverage for intellectual property (IP) risks under a general liability policy is like trying to jam a square peg into a round hole. As a result, businesses with IP assets or exposure are wise to consider dedicated IP coverage. Again, this coverage generally falls into two broad categories: Defense coverage, which pays for the cost to defend and satisfy any judgment arising out of a claim that your business infringed another’s copyright, trademark, patent or other IP; and abatement coverage, which fronts the cost of pursuing a claim against another for infringing on your IP. For abatement coverage, even if your claim fails, the insurer typically covers all or most of the cost. If the claim succeeds and you recover, the insurer may be entitled to some of the recovery to offset the costs it fronted. For businesses with critical IP, both types of coverage are important just to pay for litigation costs, since IP litigation can often become prohibitively expensive.
Are there any other emerging areas where businesses may be unknowingly exposed?
Just like IP claims, many employment-related claims, such as discrimination — race, age, gender, etc. — sexual harassment or wrongful termination, are not covered by most general liability policies. Accordingly, businesses should consider employment practices liability (EPL) coverage. EPL policies pay for defense costs and for judgments arising out of these types of claims against your business by prospective, current or former employees. Again, coverage for defense costs is particularly important since it can be expensive to defeat even a frivolous claim brought by a disgruntled employee.
Steven J. Ciszewski is a partner at Novack and Macey LLP. Reach him at (312) 419-6900 or email@example.com.
Insights Legal Affairs is brought to you by Novack and Macey LLP
Many companies undertake an acquisition using only a financial due diligence process. However, for a greater chance of detecting potential misrepresentations, companies need to incorporate forensic investigative tools into their standard due diligence process.
“Forensic techniques will help point out and isolate areas of potential fraud as well as any irregular or suspicious activity,” says Michael Maloziec, an accountant at Cendrowski Corporate Advisors LLC.
Forensic analysis during the due diligence process can uncover accounting improprieties that could overinflate the value of a target company. Performing these two services together will give increased assurance that projected performance is achievable, Maloziec says.
“Adding in forensic analysis is a crucial step toward assuring your acquisition is successful. It can allow you to see past ‘closed doors’ into areas you might not think to look,” he says.
Smart Business spoke with Maloziec about forensic techniques and their benefits during the acquisition process.
How large of a role can fraud play?
It’s huge. The Association of Certified Fraud Examiners Report to the Nations found a typical organization loses some 5 percent of its revenue to fraud each year. Even though that does not sound like a significant number, when applied to the Gross World Product, this figure translates to a potential projected annual fraud loss of more than $3.5 trillion.
What are some caveats to keep in mind?
Companies will always showcase their business in the best possible light. Managers will ‘polish the apple’ so to speak. Bear in mind the sales numbers might be misstated, which can overinflate the value of the company. Also, companies will not disclose everything, so it is important to proceed forensically during your due diligence process. Always be aware of potential manipulation in reserves and estimates. Reserves are one of the most common areas for fraud to occur because it is under management’s discretion. These caveats will help you recognize and point out areas that raise red flags.
How can you protect yourself from fraud?
One method is to look behind the numbers. You should always carry a certain sense of forensic skepticism and never make assumptions during any part of the due diligence process. Be sure to ask questions that will dig into transaction details and note any instances that provoke uncertainty. Don’t forget about applying simple common sense. Ask yourself, ‘Do the numbers flow with the current business plan that is set in place? Do management’s representations make sense?’ You can also utilize a number of analytical tools to spot any anomalies.
What analytical tests should be performed?
A great way to start would be to forensically analyze the financial statements over the past few years. During analytical testing, it is important to review current and past events in order to isolate anomalies from known events. You can utilize a variety of different ratio analyses, which can be an excellent tool in detecting red flags. Ratio analysis measures the relationship between various financial statement amounts and tracks how past numbers are trending with current results. To gain some perspective, compare company financial information to similar industries that hold the same standards, such as size, geography or sector. There are also numerous computer software programs that will assist in narrowing the scope and provide the capability of recognizing potential fraud.
How should a company approach this issue?
Start by assessing the business processes. Processes provide guidance to employees and assure accurate reporting. Acquirers need to review and understand the capacity and capability of their target organization. As part of the due diligence process, the acquirer should examine the current processes and identify any weakness or holes that could allow for erroneous or unauthorized transactions. A great method to gain insight would be to perform an internal risk assessment, which can help identify industry risks that might not be so obvious. This allows managers to zero in on areas that might be susceptible to potential fraud before they become a problem.
Michael Maloziec is an accountant at Cendrowski Corporate Advisors LLC. Reach him at (866) 717-1607 or firstname.lastname@example.org.
Insights Accounting is brought to you by Cendrowski Corporate Advisors LLC
Benefit administration systems put information at employees’ fingertips while freeing up HR staff to focus on strategic issues such as employee engagement and retention.
“Everything related to employee benefits and an employee’s life cycle can be stored in a technology solution and then used by both the employee and the HR department,” says Meghann Guentensberger, Director of HR Services at Benefitdecisions, Inc. “Medical, dental, vision, and even ancillary benefits like transportation and flex are all in one system that’s accessible to everyone.”
Smart Business spoke with Guentensberger about the advantages of automation using an online benefit administration tool and how to choose a system that fits your needs.
What can a such a tool do?
It automates the administration process through an employee’s life cycle from onboarding to termination. The system also handles annual benefits enrollments and life event changes. When someone gets married or has a baby, they can make health care enrollment changes through the system rather than filling out a 20-page application with an HR person.
The system can also be electronically connected to the insurance carriers, feeding information directly to them in real time. This ensures timely and accurate enrollments and terminations while also facilitating the billing reconciliation process, ensuring you’re not paying for someone inadvertently left on an insurance plan. Between savings generated from efficiency of staff and error reduction, a benefit administration system can save more than $19 per employee per month.
In addition to employee benefit information, many of the tools have Human Resources Information System components and can track compensation history, paid time off and leaves of absence. Skills and past performance history can also be tracked for succession planning purposes, which facilitates resource allocation. The tools empower employees to update their electronic personnel files and promote their skills by updating certifications, education or training.
How do you choose the right solution?
There are five advantages of a benefit administration system that should be considered when selecting the appropriate system: cost savings, productivity enhancements, increased communication, facilitation of employee retention and recruitment, and the ability to eliminate paper transactions.
But first, take a step back and document current processes so you know what you’re paying for your system and in HR time. This will help build perspective around the hard and soft costs of what you’re doing now versus what you could be doing. Then list what features and functions you want, so you can evaluate providers and do a direct comparison.
It’s also important to think about the solution globally rather than getting carried away by the presentation of a tool that takes current pain away. Develop a plan for where you’re going and how it fits in. Often, the tools provide scalable solutions that will allow you to add features as time goes on.
Adding a benefit administration system doesn’t mean you have to revamp everything. These tools interface with existing systems such as payroll, so you don’t have to overhaul what you have.
Have an independent third party ask questions and go through the process of how it will be used. When a vendor does a demonstration everything looks amazing, but you’re only seeing what they’re showing. A neutral third party can provide an unbiased perspective.
Who needs a benefit administration system?
Any company big or small — the complexity of the system is dependent on the company’s size and needs. With health care reform, it will be more difficult to remain compliant using paper, both because regulations change so quickly and the required reporting. This system allows you to analyze your population and compute costs to ‘pay or play.’ You can pull the data and run models to make a decision that makes the most business sense.
For smaller companies without an HR department or just one HR person, this tool can really help them be more effective and efficient instead of being transactional.
Meghann Guentensberger is Director of HR Services at Benefitdecisions, Inc. Reach her at (312) 376-0449 or email@example.com.
Insights Employee Benefits is brought to you by Benefitdecisions, Inc.
When I meet with business-to-business and professional service clients to discuss their marketing strategies, one comment that consistently arises is “No one buys professional services through the Web.”
While that may be true — you don’t typically buy an accountant online as you would a product through e-commerce — how your brand is perceived most definitely will impact a prospect’s buying decision.
Decisions to work with professional service firms don’t happen overnight. They take time. And because of this, any B2B organization must ensure it is “seen” in the strongest possible light before the sale actually occurs.
In fact, it’s just as important to not lose prospective customers because your organization is perceived as weak or subpar as it is to convert a prospect into a client.
The simple truth is that you never know at any given time who is researching your brand and through what channel. Having a consistent brand message, whether they’re looking to engage you now or somewhere down the road, helps you to not lose them before they need your solutions.
To accomplish this, you must get your brand messaging across in a consistent manner across multiple channels.
So how do you that?
First, a solid marketing strategy must include a website that clearly articulates the brand message and value proposition of your services — and it has to be on the home page.
It also should include supporting content that allows a prospective customer to quickly understand who you are, what you do and why you’re different.
For example, let’s say you’re an accounting firm. Being able to articulate why you are the best at providing risk management solutions for clients can help you differentiate yourself in the marketplace.
Providing and highlighting content that explains your service, along with case studies and client examples that include measurable results, is a smart move. It allows prospects and site visitors to get a feel of what it would be like to work with you.
Additionally, your website should offer prospective clients an easy way to contact you — either through a phone number or a simple contact form that includes a name, email address, phone number and short explanation of the prospect’s business problem.
Beyond your website, other channels to consider include social media, which includes LinkedIn, Facebook, YouTube and Twitter. In these social media channels, you need more than just simple company pages. Instead, you should offer visitors relevant and current content that consistently supports the brand message and your organization’s value proposition, along with company information and executive profiles. And it’s extremely important to continually be “active.”
Using the same accounting firm as an example, it could utilize consistent content around recent changes to government policies, updates on recent business wins or sharing a solution that helped one of its clients overcome a business challenge across all social media channels.
And when that information isn’t timely, something as simple as new hire announcements or employee promotions will show visitors and followers that there is activity within your brand — and your organization. It makes you “active,” which makes you more attractive to prospects.
Other channels to think about include mobile or tablet experiences, print marketing and event sponsorship. Every channel you can imagine should be used to express your organization’s brand message because there are always people watching.
So while your clients may not choose or buy their professional services online, they will evaluate your brand even prior to consideration. And while it’s impossible to measure what clients you may lose by not having this strategy in place, it is clear that a solid marketing strategy of this type can save you from losing consideration — even when you don’t know you’re being considered.
David Fazekas is vice president of digital marketing for Smart Business Network. Reach him at firstname.lastname@example.org or (440) 250-7056.
According to The Business Dictionary, attitude is: “A predisposition or a tendency to respond positively or negatively towards a certain idea, object, person, or situation. Attitude influences an individual's choice of action, and responses to challenges, incentives, and rewards (together called stimuli).”
The words that jump out as important in this definition are:
- Positively or negatively
In light of this, we can say that when we respond to things with a positive attitude, that response influences positive action in us and others. We can also say that the opposite is true.
We could end this article right now by simply saying – As a leader, manager or executive in business; do the former and not the latter. But if you are like me, I bet that you could use some “how to” examples and tips.
Here they are, six tips for having a positive attitude in business:
1. Keep an open mind. Always be open to the possibility that a life change you have refused to consider might be the key to transforming your life for the better.
This type of attitude impresses your colleagues. Why? Because most of them have been faced with the same challenge and chose to not change. Their attitude towards the change has been clouded with self-doubt and lack of courage.
When you are willing to keep an open mind, you are responding positively to the challenge of a life change that has the possibility of a great reward.
Be different than those around you. Be open.
2. Be proactive, not reactive. A reactive individual is at the mercy of change. A proactive individual sees change as a part of the process and takes action to make the best of it.
Having a proactive attitude requires work. You must be able to think ahead and anticipate. It involves being involved.
In business (and life) you cannot simply sit back and let things just happen as they will. In truth, you could, but that attitude is a negative response that influences negative action, namely, reaction.
Do a little mental work beforehand. Get in the game and be proactive.
3. Go with the flow. Present an easy, casual and friendly attitude that shows your flexibility, yet at the same time portrays your persistence in the face of obstacles and adversity.
This is not the negative “sit back and let things happen” attitude described above. Persistence in the face of obstacles and adversity is what sets it apart.
Having an attitude that is easy and casual, without stepping outside the bounds of proper etiquette and being friendly, is some of the best advice I can give to leaders in business.
Be persistent while going with the flow.
4. Think big. If you think small, you will achieve something small. If you think big, then you are more likely to achieve a goal that is beyond your wildest dreams.
When we allow ourselves to have an attitude that pushes boundaries and explores possibilities, we draw in people who have the same attitude. In other words, by thinking big we find big thinkers.
Want to have a team full of big thinkers? Want to have meetings where ideas are shared and positive plans are made? Want to grow leaders out of your team and promote them to new heights in their career? It all starts with your big-thinking, boundary-pushing, dream-inspiring attitude.
Go ahead – think big.
5. Be persuasive, not manipulative. Use your persuasive talents to persuade others of your worth. Don’t use it to convince someone that others are worth less than you.
Have you ever had a manipulative boss? Have you ever had a persuasive boss?
6. Enter action with boldness. When you do something, do it boldly and with confidence so that you make your mark. Wimping out is more likely to leave you stuck in the same old pattern and immune to positive change.
In the end it’s all about getting things done – with a positive attitude. As leaders, we need to be able to move and work with a certain sense of boldness. A boldness that inspires us and those around us to reach for new horizons in all we do.
It’s obvious, action is better than no action – but bold action that leaves a mark is what we should be doing in our life and business.
Do something and do it with a bold attitude.
Attitude really is everything in business. It is the force that empowers us to respond positively to the challenges we face on a daily basis. It allows us to enjoy what we do as we do it. It builds us and our teams.
DeLores Pressley, motivational speaker and personal power expert, is one of the most respected and sought-after experts on success, motivation, confidence and personal power. She is an international keynote speaker, author, life coach and the founder of the Born Successful Institute and DeLores Pressley Worldwide. She helps individuals utilize personal power, increase confidence and live a life of significance. Her story has been touted in The Washington Post, Black Enterprise, First for Women, Essence, New York Daily News, Ebony and Marie Claire. She is a frequent media guest and has been interviewed on every major network – ABC, NBC, CBS and FOX – including America’s top rated shows OPRAH and Entertainment Tonight.
She is the author of “Oh Yes You Can,” “Clean Out the Closet of Your Life” and “Believe in the Power of You.” To book her as a speaker or coach, contact her office at 330.649.9809 or via email email@example.com or visit her website at www.delorespressley.com.
Should hard-nosed, thick-skinned, ice-water-running-through-their-veins executives who live and die by facts and profit and loss statements believe in things they can’t totally understand and certainly can’t explain?
We have all been there. At various times, for virtually inexplicable reasons, an undertaking that has been struggling suddenly takes a 180-degree turn and begins an upward trajectory. There was no indication from the numbers, substantively nothing extraordinary was changed, but all of a sudden, it’s as if the sun, moon and stars all aligned and you are heading toward Fat City.
Of course, we’ve all experienced the converse, when everything seems to be jelling and all of a sudden out of the blue your project takes a nosedive, plummeting to earth faster than the fastest falling star — or the stock market crash of 2008.
Even though you fancy yourself as tough as nails, you must hope against hope, experiment with unusual fixes, devise out-of-the-box solutions — do just about anything, including making promises to a higher power, along the lines of, “Let me get through this, and I’ll never ______ again.” (You fill in the blank as it is best kept between you and the great power in which you believe.)
Don’t get me wrong I don’t really believe in the good fairy or the ability to make everything better with the wave of wand, but I do very much believe what the famous New York Yankees manager Yogi Berra once said, “It ain’t over till it’s over.”
There is “magic” when some inexplicable ingredient kicks in that enables the best leaders to continuously generate “what if I try this” scenarios and then, out of nowhere, one of those ideas turns sure defeat into a salvageable success. Is this skill and intelligence at play? To a certain extent, yes, but there is more to it than that. The only thing I believe about unadulterated pure luck is the explanation from that overused phrase, “The harder one works, the luckier he or she gets.” The real answer more likely is a combination of knowing how to run a business: using your head, your heart and your gut to tackle a dilemma, recognizing that on any given day one of these faculties will get you through a difficult issue. On a great day when all three kick in, it’s almost as if it were magic, and you start hearing sounds that become music to your ears as the needed solution suddenly emerges.
In reality, the “magic” is having faith in the people with whom you work, maintaining a strong belief that for most of the seemingly insurmountable questions there are answers, trusting that good things do happen to good people, and knowing that every once in a while the good guys do win. This doesn’t mean becoming a naive Pollyanna. Instead, it all gets down to not throwing in the towel until you have exhausted all possibilities and logically and systematically explored all the alternatives, some of which may be very nontraditional.
This approach is also a direct reflection of positive thinking and mindfulness, which is the practice of purposely focusing your attention on the present moment and ignoring all other distractions. In essence, some psychological studies have shown that when one is committed to success and has the discipline not to let the mind travel down a negative path, the brain can focus on producing unique solutions. Using positive psychology techniques can result in intense absorption that can lead to coming up with unlikely fixes. Some shrinks call this increasing mental flow. I call it a little bit of magic.
My simpler explanation for this phenomenon, which I’ve written about many times, is that success is achieved when you combine preparation, persistence with a bit of perspiration, along with a few ingredients that can’t always be explained, including having a little faith.
My advice is don’t always worry about your image of being a buttoned-up, corporate type. Instead, when the going gets particularly tough, it’s OK to become a Dorothy, as in the “Wizard of Oz,” click your heels twice and quickly repeat to yourself, “I believe, I believe.”
Michael Feuer co-founded OfficeMax in 1988, starting with one store and $20,000 of his own money. During a 16-year span, Feuer, as CEO, grew the company to almost 1,000 stores worldwide with annual sales of approximately $5 billion before selling this retail giant for almost $1.5 billion in December 2003. In 2010, Feuer launched another retail concept, Max-Wellness, a first of its kind chain featuring more than 7,000 products for head-to-toe care. Feuer serves on a number of corporate and philanthropic boards and is a frequent speaker on business, marketing and building entrepreneurial enterprises. Reach him with comments at firstname.lastname@example.org.
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