Risks of Growing Too Fast
Charles T. Wilson, CMC, CRM, RPLU
Many business people envy the companies that are on the "100 Fastest Growing" lists. The risk manager says, "Be careful what you wish for." Sometimes what looks good from the outside can be a painful problem on the inside.
What happens when you grow too fast?
Mike Van Horn, President of The Business Group (businessownerstoolbox.com), warns "The greatest threat is the inability of management to change quickly enough to respond to new situations." In addition to the well-documented risks related to cash flow that can toss you quickly into shark-infested waters, here are some other pitfalls:
Losing focus on the details that are critical to your quality, customer service and employee morale;
Out-running your vendors and service providers, your materials and equipment, your staff and their time, skills and experience;
Damaging quality relationships with existing clients while all your focus is on getting new business.
"Step Up and Make A Decision"
By Mark Hunter
The last few months I've had several discussions with HR departments regarding the future of company benefits in light of the new federal health care regulations starting to take effect. The universal comment I've heard from everyone is simply that everyone is assessing their benefit packages and questioning each part. People are not sure what direction to go, and many are simply waiting to see what their industry peers do before making a move.
By Thomas W. Tobin, J.D
The opinion in Pension Committee v. Banc of America is destined to change the e-discovery landscape.
Anyone with even a passing familiarity with the duty to preserve and produce electronically stored information (ESI) in U.S. litigation is well-aware of the pivotal series of Zubulake v. UBS decisions written by U.S. District Court Judge Shira A. Scheindlin of the Southern District of New York in 2003 and 2004. Shortly after those opinions were issued, the Federal Rules of Civil Procedure were amended to include specific ESI provisions.
The Zen of Leadership
By Michael Beck
There are many aspects to leadership that parallel the philosophies, concepts, and perspectives of Zen Buddhism. I don't profess to have a great depth of knowledge regarding Zen Buddhism, but from the insights I do have, I can see the application with respect to effective leadership.
The parallel exists within the concept of leading without leading. It exists in the ebb and flow of leadership style. And it's reflected in the very duality of the role of a leader within an organization. Let me share my perspectives on each of those concepts as an insight into effective leadership.
Customer Service - Is Someone Having a Bad Day or a Symptom of Bad Management?
By Edwin Martinez, PHR
Have you ever walked into an establishment and wished you had done an about-face right before entering? You might have been feeling full of confidence and enthusiasm walking in only to feel deflated and indignant on the way out because of the way you were treated. Maybe the person who projected this behavior was having a bad day or simply disliked their job and let you have it! Perhaps you responded with the same attitude or you likely just decided to let it go but never return there again. Whatever the case may be, poor customer service does impact a company's bottom line but not in a positive way.
5. I am flexible:
There is a saying that I use when I'm on the phone with prospective clients. "The only constant in business is change." True statement, isn't it? Being flexible enough to react to those changes is key to the success of any organization. Let the interviewer know that you can adapt to new changes in the industry and do whatever it takes to succeed.
By Patti Tom
As John Lennon and Paul McCartney could tell you, sometimes you just need a little help from your friends. And in the insurance agency business - where building relationships are key to success - that friend often is more than just a trusted colleague, the person is also a more experienced advisor or mentor.
There are several recent developments in the marketplace that make selling environmental insurance easier and more lucrative for insurance agents. These developments are listed below:
1. Chinese drywall
2. Government infrastructure projects
3. Lead paint abatement regulations
There's Magic in Measurement
By Ed Lamont
Top insurance sales professionals know their numbers. Whether tracking personal marketing plan success or production results, certain key indicators must be identified and measured. No benchmarks, no ability to manage results effectively.
PERSONAL MARKETING PLANS
Cold Calls to Appointments Rate: How many cold calls lead to appointments? If you make fifty cold calls and land five appointments you have measurable information. Would a more compelling positioning statement better enable you to get in door? Perhaps you're calling at the wrong time. Here's the point: Your cold call to appointment rate indicates effectiveness. Adjust your message, improve your value statement impact, and call at strategically defined times to increase appointments set per cold call made.
This risk management newsletter is produced in conjunction with Agents of America, www.agentsofamerica.com. The contents of this newsletter do not constitute legal advice, and may not be reproduced without the express written permission of AoA.