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May 2023
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The Woman Who Shaped Me
Appreciating My Mom on Mother’s Day
Our mothers are some of the most important people in our lives, and in many cases, they raise and shape us into who we become as adults. In her book, “The Last Séance,” Agatha Christie wrote, “A mother’s love for her child is like nothing else in the world. It knows no law, no pity. It dares all things and crushes down remorselessly all that stands in its path.” The love of a mother is unconditional and something I hope we can all treasure. We get an opportunity to reflect on and appreciate our relationships with our mothers when we celebrate Mother’s Day this month. My mom has always been my rock. She’s supported me throughout my life and did the same for my siblings. My brother is a CPA working as the CFO for a chain of car dealerships, and my sister is a litigating attorney. I like to joke that I don’t exactly know what happened to me. I’m the oldest, but my siblings got the brains! All joking aside, all three of us have found success, and it’s thanks to the loving support of our mom and dad. I recently visited my parents’ home in Iowa to accompany my parents on some doctor’s visits. These trips become more difficult as they grow older, but spending this time with them is invaluable. My mom is 86 years old and has been battling cancer for eight years. She’s put up one heck of a fight, and I’ve been so impressed with how she’s handled everything during the process. Not everyone faces cancer so strongly, and I can only hope I’ll be as strong as she’s been if I have to experience something similar. She was diagnosed with ovarian cancer in 2015, which has since spread to many other parts of her body. She’s still taking chemotherapy and is unfortunately relegated to a liquid diet, but nothing can bring down her attitude. She’s as positive as always and never complains. It’s just another of the many things I admire about her. During this season of my mom’s battle with cancer, I must say that I have been truly impressed by my dad. He’s always been a great provider and there when we needed him, but I really had no idea that he had this caretaker ability within him, as that is not a natural part of his personality. He’s 88 years old and still drives and plays golf whenever he has the opportunity. He loves my mom more than anything and has really stepped up to take care of her. I’m so proud of him and beyond thankful he’s been there for my mom to rely on.
her time to us. She drove us to our sporting events and was our biggest cheerleader. My dad would always come to our sporting events, but my mom always got us prepared and then got us there. As we grew older, her support never wavered. If I needed anything, she was just a phone call away. I know not everyone has the same family dynamic I had, which can make things much more challenging. I have been incredibly blessed to have such loving parents, and I’m so glad we’ve experienced so much together. My mom has told me repeatedly over the past few years that she’s lived a good, long life. She has a very strong faith in the Lord, so she is spiritually and emotionally prepared for what comes next. I just hope that I can be that strong too.
Happy Mother’s Day!
–Brad Johnson President, Risk Services of AR
When my siblings and I were younger, our mom always cared for our every need. She didn’t work outside the house when we were kids, so she devoted
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REBRANDING THE RIGHT WAY DON’T BE ‘STARRY’-EYED ABOUT YOUR STRATEGY In early 2023, Pepsi shocked the public by rebranding its lemon-lime soda Sierra Mist as Starry. Though the move raised eyebrows and spawned jokes, the success of the company’s rebranding strategy remains to be seen. Rebranding is always tricky and opens you up to the wrong kind of attention. So, if you’re considering it for your business, how do you ensure you get the right reactions? Companies rebrand for many reasons. Many do so after flagging sales to revitalize interest or reach a new market. Others rebrand to reflect a significant change in the business, like an acquisition or considerable shift in products or services. Rebranding is also a tried-and-true method for companies to move on from bad publicity. But rebranding is more than renaming your business — in fact, you don’t necessarily need to rename your business at all. Rebranding is more than a new company name, updated logo, or website. It’s about your business’s identity and overall strategy for the future. Since rebranding is not a quick fix, every business owner should evaluate their reasons for wanting to rebrand before making the leap. Simply “feeling” like it’s time for a change is not enough. Ask what you’re hoping to accomplish, then consider whether you need to rebrand to achieve it. Your brand may just need a “facelift” with a tweaked logo, new company colors, or a refreshed social media presence. If you’re committed to rebranding, do it with clear eyes and an awareness of how your efforts could go wrong. One famous example was Tropicana (also owned by PepsiCo) in 2009. The company replaced its instantly recognizable image of a straw in an orange with a generic picture of a glass of orange juice. Consumers felt it cheapened the product — and some even had trouble finding it. Tropicana quickly switched back to its old packaging, but it was a $50 million mistake.
Over the past few years, we have seen claim costs increase in ways nobody anticipated. We often refer to this phenomenon as social inflation. With social inflation on the rise, policyholders are paying more for coverage, and claim payouts are higher than ever. It’s led many to wonder why social inflation has consistently grown over the past few years. Experts have determined that four main factors are to blame for the growth of social inflation.
Desensitization to Large Verdicts
Do you remember the first time you heard a verdict that seemed impossible? It could have been someone who slipped and fell or was in an accident with a drunk driver, resulting in a lawsuit that paid out millions of dollars. Now, we see these lawsuits daily on the local news or social media. It’s not just our imagination, either. From 2015 to 2020, the median cost of jury awards over $10 million increased by 35%, according to Advisen’s loss database.
Public Distrust of Corporations
Americans don’t have the same trust in large corporations they had in the past. According to the DecisionQuest National Juror Attitude Survey, 67% of jurors believe companies choose to sacrifice safety to make more profit. The same survey found that 89% of jurors think companies should do more than the basic government safety standards.
Changes to the Legal Environment
There used to be a monetary limit on awards, but some states have done away with them. Also, longer grace periods exist to file lawsuits, allowing attorneys to take on more cases.
New Attorney Tactics
Another belief is that recent attorney tactics are a driving force behind social inflation. Lawyers are spending more on advertising, which has the potential to influence jury pools and attract more clients. They’re using emotion to drive home results and ignite anger among juries.
It appears that social inflation will continue to rise, as these factors aren’t going away anytime soon.
Rebranding is a balancing act between refreshing your image and retaining the elements that made your company successful in the first place. Business leaders should strongly consider hiring a rebranding expert who understands the risks before beginning an overhaul. It’s essential to understand your current customer base and target market. Otherwise, you could alienate both — and all your money, time, and effort could fall flat.
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One Woman’s Selfless Actions
TO RETURN MONEY
THAT WASN’T HERS
about the bad things, so this was obviously heartwarming. I was hoping we could help her get a car since she could have walked into any dealership and used that money.” Connell set up a GoFundMe to help Gordon afford a car, and within six days, she had raised over $60,000. By the end of the fundraiser, it had amassed over $82,000 to give to Gordon, who went and bought a new Jeep Compass with the money. If you’re wondering what happened to the original $15,000, don’t worry! The officers were able to determine the owners were a recently married couple, and they were reunited with their missing money shortly after Gordon turned it in. This story proves that it pays to be honest!
her vehicle. There was a gas station along her walking route where she often stepped in to grab a snack or drink. On one fateful day, she stumbled across a plastic bag filled with money and greeting cards. There was nearly $15,000 in the plastic bag, but instead of keeping it herself, Gordon called the local police department. In an interview with The Washington Post, Gordon stated, “If it doesn’t belong to you, you don’t keep it. I didn’t do anything special. All I did was return something that didn’t belong to me.” The wife of one of the responding officers, Stacy Connell, had other opinions on Gordon’s actions and thought she should be rewarded somehow. She stated, “I typically hear
What would you do if you found $20 on the ground in a parking lot? Most of us wouldn’t think twice about keeping it for ourselves. But what if that amount was $1,000 or $10,000? Would you still be so keen to keep it, or would you turn the money over to the authorities? A Michigan woman recently answered that question and defied expectations when she turned a large sum of money over to the police. Dianne Gordon became accustomed to walking to and from work. Her Jeep had broken down a few months prior, and she didn’t have the money to afford repairs. The 65-year-old woman opted to make the 2.7- mile trek to and from her job at a deli counter until she had raised enough funds to repair
Solution on Pg. 4 Have a Laugh!
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1501 Mart Dr. Little Rock, AR 72202 501.666.6653
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INSIDE This Issue
Brad’s Love and Adoration for His Mom page 1
Rebranding: Are You ‘Starry’-Eyed? Why Social Inflation Is Growing page 2
It Pays to Be Selfless and Honest page 3
What Your Sales Team Needs to Succeed page 4
Results Start at the Top Setting Up Your Sales Team for Success
Is your sales team not getting the results you’d like? It’s easy to criticize their performance, but success starts at the top. Your sales team needs leadership, guidance, resources, and training to succeed. Here are some areas where your business may need to step up to the plate to improve sales numbers long term. Onboarding Before a sales representative can be successful, they must understand what they’re selling and who they’re selling it to. That may seem shockingly simple, but countless companies get it wrong, with 66% of the top-performing sales organizations reporting that they struggle with onboarding. Before letting them fend for themselves, your new reps must be fluent in your company’s customer base, value proposition, and offerings. Otherwise, they’ll try to sell the wrong things to the wrong people.
Resources Your sales team shouldn’t stop learning after a few weeks. Sales is a complex field, and new issues arise all the time. Where can your reps go for help, and how can they find solutions? Your team needs mentorship and participation from management; nothing will doom your company faster than employees who are afraid to ask questions. Every business should also invest in its sales playbook as a comprehensive guide. Unfortunately, only 29% of surveyed companies say theirs is accurate and updated. Expectations No one can live up to your standards without understanding them. The expectations and metrics you give employees should be unambiguous. Think carefully about what you expect before you announce it. Transparent
expectations motivate employees, but shifting goals demoralize. Expectations will change over time, but adjustments should be rare and clearly communicated. Further, ensure your team knows why the change is happening so they can feel like a part of the company’s new vision. Feedback Don’t leave your sales reps in the dark. There’s nothing worse than thinking you’re doing everything right and learning the opposite during your annual review. It’s also incredibly frustrating for employees to fail but not understand why. Be consistent about telling each team member what is and isn’t working, and follow up to celebrate improvements. Your reps will feel valued — and more motivated to close the next big deal!
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