Philadelphia (1114)

An effective safety committee will lead to fewer workers’ compensation claims and reduce your company’s experience modification factor and premiums.

“With lower claims your company may be able to obtain quotes from insurance carriers with lower rates than you could in years past,” says Kevin Forbes, sales executive at ECBM. “Lower claims may also provide alternative sources for coverage, such as captive programs and retention programs for companies that can effectively control their workers’ compensation claims.”

Smart Business spoke with Forbes about setting up a safety committee and driving down your workers’ compensation costs.

What’s the goal when forming a safety committee?

Employers who form safety committees are attempting to reduce injuries and meet compliance requirements of federal and state regulations. However, the overall goal should be to enforce and expand current safety procedures and continue to promote the organization’s safety culture.

Safety committees also are an effective tool in analyzing and ensuring regulation compliance. Making sure your company guidelines meet Occupational Safety and Health Administration (OSHA) minimum standards in the facility, yard, on job sites and over-the-road is a key function of every safety committee. Training can be provided by outside, certified instructors, and then committee members are responsible for passing on their training and monitoring new procedures.

Does a safety committee give you an insurance discount?

Depending on what state you are domiciled in, credits may be available. Pennsylvania offers a 5 percent credit to any employer who qualifies. New York and Delaware also offer credits, but New Jersey does not. To qualify, the safety committee has to meet guidelines laid out in the state’s workers’ compensation manuals and become state certified.

What ingredients do you need to set up a successful safety committee? 

To get the best results, any safety committee must have complete support and involvement from top management. And once procedures are implemented, they need to be communicated to employees, strictly followed and monitored for effectiveness.

The committee must meet regularly — typically once per month and at the same time for maximum involvement. Meetings shouldn’t always be in a conference room; some of the most effective meetings take place at job sites or on the factory floor.

The committee should be formed with volunteer members — management and employees — who show an interest in making the workplace safer. Since these individuals identify safety issues, develop new procedures and communicate them to the rest of the workforce, they should be from positions that will be directly affected.

Bringing on your insurance broker or risk manager as a member can be valuable. These individuals have the ability to analyze exposures and identify where the company is experiencing the most loss.

How important is employee buy-in? 

Without it, the safety committee will never help create an effective safety culture. By getting employees who are leaders from each level in the organization involved, the views formed in the committee can be transmitted throughout the organization.

Typically, when employees see a company invested and committed to keeping them safe, getting their buy-in is pretty easy. Management should also encourage employee involvement and suggestions. Employees have a much better outlook on participating when they see their suggestions being taken seriously.

Are there any risks you should be aware of when establishing a safety committee?

Be sure to comply with the jurisdictional law that has been established regarding the creation of safety committees and follow the rules. Once the committee is established and the plan is in place, it’s imperative to continue to run the committee in line with the mission on which it was established, which will include accurate record keeping.

Kevin Forbes is a sales executive at ECBM. Reach him at (610) 668-7100, ext. 1322 or kforbes@ecbm.com.

 

BLOG: For more information about risk management, visit www.ecbm.com/blog.

 

Insights Risk Management is brought to you by ECBM

Thursday, 28 February 2013 21:38

How to get the most out of lender relationships

Written by

External financing is typically the lifeline of a company, enabling it access to capital to purchase property and equipment, hire employees, and ultimately expand the business.

Commercial lending institutions provide the most common source of such financing.

“In order to get the most out of your lender relationship, the business owner or manager needs to understand what’s important to the commercial banker,” says Mark G. Metzler, CPA, director of Audit & Accounting at Kreischer Miller.

Smart Business spoke with Metzler about establishing a relationship with a commercial lender that will benefit your business.

What does a commercial lender look for in a banking relationship?

First and foremost, like most companies, the commercial lender is in business to generate a profit. Consequently, it’s imperative that the lender has confidence in the borrower’s ability to repay its loan. Therefore, in addition to evaluating the integrity of management, the commercial lender will look for a strong balance sheet and positive cash flow as indicators of the company’s ability to repay its obligations.

What else is important to the lender?

Lenders look at the experience and strength of management. In particular, they evaluate management’s ability to guide the company and execute its strategy. How has management been able to navigate through the recent turbulent economic environment? What are the backgrounds of the CFO and senior management? The lender will look at the company’s other business advisers, including its outside CPAs and attorneys, to help assess the company’s credentials. Does management surround itself with the right professionals? Lastly, the lender is interested in timely, open communication with management, sharing both good and bad news. The lender understands that projections and forecasts may change, but they don’t want to be surprised. The lender wants to know: What is management’s business plan, how has it historically performed and what are the key assumptions in the plan?

What should the business owner look for?

There are many options available to companies, and the business owner needs to evaluate a number of factors. First, who will be the company’s relationship manager and what is his or her experience? Remember, the relationship manager will be the one who presents the company’s case for extending the loan to the bank’s credit committee and monitors the company’s performance. The relationship manager plays a critical part and he or she should understand your business, its opportunities and threats, and potential capital requirements. Second, what type of financing is most appropriate? Options include traditional term debt, lines of credit, asset-based arrangements and SBA loans, among others. The size of the requested credit facility may help dictate the type of loan and banks that are suitable. Third, are there other services that you may need from the bank? For instance, if you have a global business, the bank’s foreign exchange capabilities may be important. Another business may be interested in cash management. Finally, because the company is often the business owner’s greatest asset, what private banking services are available to the owner individually?

What role do interest rates play?

Terms and conditions are always important, but we’ve found that commercial banks will be competitive for the right credit. Depending on the size and type of loan, the lender may be interested in collateral or personal guarantees. Obviously, companies with the strongest balance sheets and cash flows will generally obtain the best terms. While the lowest interest rate may appear to be most desirable, the experience of the relationship manager, the depth of service offerings and the commitment of the bank to your business are intangible factors that should not be ignored.

Do you have any recommendations?

Because your CPA works with a number of companies and has access to credit arrangements offered by various lending institutions, he or she is ideally positioned to guide you through the process and assist you in negotiating an optimal lending relationship for your company.

Mark G. Metzler, CPA, is a director, Audit & Accounting, at Kreischer Miller. Reach him at (215) 441-4600 or mmetzler@kmco.com.

Insights Accounting & Consulting is brought to you by Kreischer Miller

Michael J. Torchia, a managing member at Semanoff Ormsby Greenberg & Torchia, LLC, gave a seminar to executive clients on individual liability several months ago. “Even if some supervisors knew they had liability under a statute or two,” he says, “seeing their actual exposure to 12 or 14 statutes shocked them.”

“I don’t think business owners have any clue how vulnerable they are to being sued under various employment statutes,” Torchia says.

This exposure is prevalent in areas like discrimination cases, and wage and hour claims which include unpaid overtime, exempt and non-exempt employees, and independent contractor status.

Smart Business spoke with Torchia about individual liability and strategies for protection and avoidance.

How are executives vulnerable to individual liability? 

Many state and federal statutes explicitly state an employee has a right to relief against the employer and an individual.  Some simply define ‘employer’ to include certain individuals. Examples include the Pennsylvania Wage Payment and Collection Law; Fair Labor Standards Act; Family and Medical Leave Act; Pennsylvania Human Relations Act; Pennsylvania Whistleblower Act; Immigration Reform and Control Act; and COBRA. There are also common law court cases allowing an individual to be sued under a variety of claims such as intentional infliction of emotional distress and defamation. Although incorporation helps shield individual assets — as opposed to, for example, a sole proprietor — the corporate veil does not protect individuals here because the statutes specifically allow action against them.

How far into management is the risk?

Generally, if an executive, manager or supervisor is considered a decision maker when it comes to employee issues, especially with regard to compensation, benefits or termination, there could be individual liability. In some organizations, that could be those at the ‘C’ level, president or vice president, but in others a secondary or middle manager could be individually liable.

What about executives who say, ‘I was following orders’ or ‘It was unintentional’? 

‘Just following orders’ or ‘company policy’ may help, but is not an absolute defense. And whether the improper act was or wasn’t intentional is only relevant if the statute requires proving intent, bad faith or a knowing violation.

So, how can executives protect themselves?

At a minimum, managers, supervisors and executives should make certain they have adequate insurance. There are a variety of policies for individual exposure, such as employment practices liability, directors and officers, fiduciary liability, and errors and omissions. There are also lesser known policies that cover, for example, inadvertent disclosure of private information.

Another factor is asset protection. In Pennsylvania, assuming the executive is not already named in a lawsuit or under imminent threat of a claim, which could result in a fraudulent transfer claim, assets can be protected by putting a house, cars and bank accounts in joint names with a spouse.  If not married, executives may consider increasing contributions to retirement accounts, which are not usually subject to collection.

How can executives and their companies avoid problems in the first place?

Training and education for managers, supervisors and executives — especially your decision makers — is key. They need to know how to handle all aspects of their supervisory duties, such as hiring, discipline, firings and employee complaints.

The company’s written policies should be consistent with the manager training and what is actually done day to day. Policy review and training should occur at least every three years, and sooner if there is turnover or changes in the law. Seminars and in-person training for middle managers is routinely overlooked or disregarded as unnecessary, but that it is one of the most important steps a company can take.

Most often decision-making executives, managers and supervisors are not trying to violate the law. However, with authority to bind the company, they can unknowingly cause liability to themselves or the business.

Michael J. Torchia, Esq. is a managing member at Semanoff Ormsby Greenberg & Torchia, LLC. Reach him at (215) 887-0200 or mtorchia@sogtlaw.com.

Insights Legal Affairs is brought to you by Semanoff Ormsby Greenberg & Torchia, LLC

 

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 dfazekas@sbnonline.com 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:

 

 

  • Respond

 

 

  • Positively or negatively

 

 

  • Influences

 

 

  • Action

 

 

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 Pressleymotivational 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 atinfo@delorespressley.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 mfeuer@max-wellness.com.

A unique new book with an unorthodox, yet proven approach to achieving extraordinary success.

What does it take to grow rapidly and effectively from mind to market?

This book offers an unconventional philosophy for starting and building a business that exceeds your own expectations.

Beating the competition is never easy. That’s why it requires a benevolent dictator.

Published by John Wiley & Sons. AVAILABLE NOW! Order online now at: www.thebenevolentdictator.biz

Also available wherever books and eBooks are sold, and from Smart Business Magazine and www.SBNOnline.com. Contact Dustin S. Klein of Smart Business at (800) 988-4726 for bulk order special pricing.

Everybody’s telling you that you need a content strategy, but what exactly is content strategy?

An effective content strategy coordinates all of your organization’s messaging — internally and externally — and gets the right message to the right people through the right channel at the right time.

When it works, people are motivated to interact more with your company. You attract new prospects. And you increase opportunities to secure new clients and expand existing business relationships.

Your content may consist of feature stories, press releases, videos, Web content, blog posts, books, whitepapers and even case studies. Essentially, it is everything and anything that discusses your business, professional expertise and ability to solve clients’ problems. It includes news about your organization and human-interest stories that feature your employees.

You can deliver your content through traditional media (newspapers, magazines, radio or television), a corporate website, YouTube channel, Facebook page, e-book, TV show, movie or social media. It is quite literally every single way you digest information online, offline and on the go.

Any content strategy starts with understanding your audience. Learn who that audience is, what different groups are in it and what messaging resonates most with each group.

Every audience comprises two unique segments — those who support you, such as vendors, investors or employees, and those who use your services, including clients and engaged prospects.

It’s also important to take a hard look at this list and ask, “Who is missing from this picture?” By doing so, you may identify new prospect streams to target that you previously had overlooked.

Next, identify your key messages. What is it that you want people to know about your organization and why?

Start at the most macro level so that your brand message becomes part of the content — the part everyone receives. Then get into the specifics. As you do this, you create a series of customized messages for each specific group in your audience.

Third, recognize that not everyone digests information the same way. Learn the best channel or channels to use for each group. Some like to read it — in print or online. Others prefer to watch or listen to it — live in-person or through a mobile video. And still others prefer their information delivered in 140 characters or less.

What works for your website visitors doesn’t necessarily resonate face-to-face with people at a trade show or conference. And print ad messaging may not be aimed at the same people who devour industry whitepapers or read thought leadership articles in trade publications.

The actual format of the content won’t matter as long as it provides the “why” people should care about your organization, frequent your establishment, buy your products or services, or use your solutions. If you accurately match message with audience and channel, you’ll do just fine.

Effective content strategy can quickly become a powerful tool in moving your business forward. Treat it as you would any highly critical strategic business initiative.

 

Dustin S. Klein is publisher and vice president of operations of SBN Interactive, publishers of Smart Business magazine. Reach him at dsklein@sbnonline.com or (440) 250-7026.

When the economy dips into a recession, companies have two basic responses: hunker down to weather the storm or be aggressive by attacking weakness in competitors and opportunities in the market. I have always preferred the latter approach.

During the past two years, our company made several important acquisitions and recruited top talent to forge a new business that positions us as a leading provider of a full range of marketing services for clients ranging from manufacturers and professional service firms to nonprofits and consumer products companies. I am pleased to announce the official launch of SBN Interactive, our content-driven interactive marketing firm.

SBN Interactive is the culmination of months of planning and hard work. It combines our long-standing expertise in creating award-winning content with our intimate knowledge of the latest marketing trends and tools. More importantly, it allows us to leverage our expertise in offline and online marketing to drive measurable business results for our clients across the full range of marketing channels: Web, mobile, video, social and print.

Today, customers move seamlessly across online and offline channels and expect the experience to be consistent, connected and available when they want it and how they want it. What does that mean in practical terms? It means that businesses need to deliver a consistent brand across the spectrum of marketing channels that their customers use. Some prefer print, others video, still others social media. Regardless, marketers need to present the right message to the right customer through the right channel.

Our team of interactive marketing strategists, content strategists, content creators, designers, developers, optimization experts and technologists understand and embrace this. They collaborate to develop strategies and solutions that meet the specific business goals of our clients. From custom magazines and website content optimization to social media strategies and fully outsourced marketing services, they have the expertise — and dozens of proven tactics — to help move the needle for a business.

At the heart of everything we do is our core competency: content. Content drives differentiation, and there are few organizations that exist or are organized in a way to efficiently deliver relevant content in the context of the connected world we live in. But we, at Smart Business, live and breathe content on a daily basis.

We have spent more than two decades working with and writing about some of the most successful business people in America, from iconic business builders like Wayne Huizenga and Les Wexner to maverick billionaires like Ted Turner and Mark Cuban. Now, we are putting those same skills — and many more we have developed over the years — to work for other companies.

We will still continue to bring you management insight, advice and strategy from the best and brightest business minds in the pages of Smart Business. However, thanks to SBN Interactive, we now have a more direct way to help businesses like yours meet their goals and prosper.

I invite you to learn more about SBN Interactive by visiting our website at www.sbninteractive.com or by contacting me directly at fkoury@sbnonline.com or (440) 250-7034.

Fred Koury is president and CEO of Smart Business Network Inc. Reach him with your comments at (800) 988-4726 or fkoury@sbnonline.com.

No one said it was going to be easy. Managing others is, in fact, a very difficult process, especially when stress levels are high and you have 37 other urgent tasks to complete that day. No matter the scenario, being a great leader means being a great manager and that takes considerable time, forethought and dedication. Let’s also remind ourselves again that our associates are “the most valuable unlisted asset on our balance sheet.”

Here are a few little known factoids:

? 71 percent of all workers feel stressed.

? 40 percent of adults get less than seven hours of sleep during the weekdays.

? 34 percent of lunches are eaten on the run.

? The average person receives 156 emails per day.

Despite these statistics, the bottom line is that you can get more than these 37 tasks completed and still lead your team to success if you know how to manage them effectively.

The key is finding the time — and the discipline. Time is something we can never get back and is more important than money itself. Here are 10 steps to becoming the leader your associates want to follow:

1. Make the time.

Don’t use time as an excuse or a crutch. Prioritize your calendar to be in alignment with your goals and those of your company. Set two hours each week for strategically “managing” your schedule.

2. Provide direction.

Clearly articulate, in writing, tangible deliverables to your team, complete with timelines. Review those tangibles on a regular basis to hold your associates (and yourself) more accountable.

3. Run effective staff meetings.

Meetings are the bane of our existence — you can’t live with them; you can’t live without them. Keep them focused (one hour or less), keep them interactive and keep them content-rich.

4. Set stretch objectives.

Set high (yet reasonable) goals. Limit the number of homework assignments you assume during a meeting. Again, delegate to allow you, as the leader, to focus on high-level initiatives. By doing so, you will empower those around you.

5. Evaluate your style.

Is it effective? Leaders must create an environment of trust and transparency. And, most importantly, spend more time listening.

6. Inspect what you expect.

Never delegate without management control. Challenge your team with tasks, but circle back to ensure they are getting done.

7. Promote risk taking.

Nothing stifles creativity and growth more than “the traditional leader.” Give your associates permission to push the envelope and to do things differently than you do.

8. Get out of your comfort zone.

Surround yourself with people unlike you. And, with people who have the self-confidence to challenge traditional thinking.

9. Step away from your desk.

Limit the number of meetings in your office; make “house calls” and go to your associate’s office or even the conference room. It will foster open and positive communication.

10. Do what you say you will do.

“Walk the talk” is vital to obtain and retain the trust and respect of your colleagues. You have enormous influence, and it is pivotal to understand this enormous influence you have on people. It all starts with trust and respect.

Managing a team is challenging, but it’s profoundly rewarding if done right. When you find the time to focus on your associates, remember:

? Engaged employees are 3½ times more likely to stay with your company.

? Empowered employees are more productive, creative and resourceful.

? The more you trust your team to do great work, the less stress for everyone.

? The higher the morale, the more fun for everyone.

Once you’ve developed an empowered team you can trust, you will be well on your way to being that leader they will follow.

G. A. Taylor Fernley is president and CEO of Fernley & Fernley, an association management company providing professional management services to non-profit organizations since 1886. He can be reached at tfernley@fernley.com, or for more information, visit www.fernley.com.