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August 2023 The Contractor’s Advantage
HarrisonLawGroup.com (410) 832-0000 jwyatt@harrisonlawgroup.com
JOURNEY INTO A THOUSAND LIVES
The Power of Reading
Outside of work, if there is one thing I am aside from a husband and a father, it’s an obsessive reader. If I’m not reading books, I’m reading the news. And if I’m reading the news and there’s a word or concept I’m unfamiliar with, I read other resources that explain what was discussed. I bring this up only because this month, National Book Lovers Day falls on Aug. 9, and the holiday is something I identify with and something that prompted me to investigate my interest in reading — specifically the question, “Why is it important to read?” It’s an activity that, outside school or professional obligations, we do of our own volition. Part of it is, of course, the desire to enrich ourselves. We only get so many days on this Earth, and there’s no way in the busyness of modern life that you’ll be able to develop all of the understandings you might want or need. Books, however, are a way to shortcut that. I tend to lean toward historical books (ancient history, if we’re getting particular); in fact, the one I’m reading now is “Philip and Alexander: Kings and Conquerors” by Adrian Goldsworthy. But aside from books about humanity’s past, there is a lot to be gained from great literature. There are books written both today and throughout history that can give you an insight into life, capture the quintessence of something real, and present it in a way we can understand.
Every year, my wife buys me the entire shortlist of the Man Booker Prize for Christmas. It’s a British writing prize very similar to the Pulitzer, and I make it through as much of the list as I can. The writing in these books is typically astounding, and each book has the ability to distill and crystallize the truth of a situation — whatever that may be. One book that immediately comes to mind while writing this is “The Sun Also Rises” by Ernest Hemingway. It’s a novel about a group of people in Spain vacationing, specifically two would-be lovers. The story follows these two characters as they rotate around each other, seeing if they ever enter into a relationship. At the end of the book, one character hopes that maybe their relationship will work out one day in the future, to which the other replies, “Isn’t it pretty to think so.” This line has stuck with me for over 20 years, as it distills the truth that no matter what our desires, hopes, or intent, there’s still reality to contend with. It’s a sentiment that, for some people, requires a lifetime of trial and error, mistakes, and retributions to discover. In a single line, a book delivers a lesson for a lifetime. It’s due to the nature of the medium — that it has depth and subtlety — we’re able to take these trips in someone else’s life that gradually distill life’s truths. There is great serendipity in reading; you will learn things you have never thought of before. And, going back to my original question, it’s important to read because it allows you to live hundreds of lives instead of just one, and you might be surprised by what those lives can teach you. So, if you’re an obsessive reader as I am, I’d love to hear about the books that taught you something. What truths did they
“We only get so many days on this Earth, and there’s no way in the busyness of modern life that you’ll be able to develop all of the understandings you might want or need. Books, however, are a way to shortcut that.”
distill to you? If you’re an aspiring reader ready to take off into the thousands of lives that await, I’d be more than happy to recommend a few I loved.
-Jeremy Wyatt
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Ongoing Education Makes a Difference Make Learning a Workplace Must
The last thing you want is a workforce filled with people living for the weekend. The grueling “work is just a paycheck” mindset doesn’t benefit your employees or your business. So, how can you boost motivation and create a work environment where employees actually feel like they matter? Opportunities to learn and grow are vital and not only improve workplace satisfaction but also help improve your overall business. What Motivates Us? Finding motivation isn’t easy, especially when trying to uplift an entire staff with varying skills and concerns. Fortunately, the results are in, and studies have shown that education is a significant factor in keeping people motivated as they search for fulfillment. Daniel H. Pink’s book “Drive: The Surprising Truth About What Motivates Us” explores how impactful education is for those who are and aren’t motivated in their daily lives.
your company’s success. When they’re inspired, they work harder, which means increased productivity and greater profits for your business. LinkedIn conducted a study on the relationship between workplace learning and contentment to discover how much education truly impacts employee satisfaction. They found that those given learning opportunities were “47% less likely to be stressed, 39% more likely to feel productive and successful, 23% more ready to take on additional responsibilities, and 21% more likely to feel confident and happy.” Impressive, right? So, how can you make this a reality in your business? While frequent training is crucial to encouraging education, you don’t want your employees to feel forced. The key is to be upfront and let them have a say on what they would like to learn more about, how they want to achieve it, and when they want to accomplish it. You want to make education as easy as possible for your team to benefit thoroughly and even be happy while learning! Another surefire way to enhance the learning experience is by joining in as a classmate. You can lead by example and show that everyone, including you, can profit from learning something new. This can make any training feel less like a mandatory snoozefest and more like a meaningful activity. With career burnout becoming more common, you need to support your team and ensure they feel like their hard work matters. When they learn more and feel accomplished about their career, productivity advances further than you can imagine. Educated and motivated employees equate to better business results!
According to Pink, humans need three elements to feel fulfilled and inspired: autonomy, mastery, and purpose. The solution to all three aspects is learning, and what better way to motivate your team than to create a learning environment? Foster learning by providing ongoing training and opportunities to learn from one another. Benefits of Educated and Fulfilled Employees
How your employees view their work, and their lives in general, directly impacts
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‘When Machines Become Customers’ GIVES A GLIMPSE INTO THE NEAR FUTURE
Artificial intelligence (AI) is everywhere, and it’s not going away any time soon. And while no one can stop how soon it will enter the customer market, you can prepare for it. In the new book “When Machines Become Customers” by Mark Raskino and Don Scheibenreif,
A mysterious 18th-century code has made even geniuses lose sleep. On the grounds of England’s Shugborough Hall lies a code that refuses to be cracked. The monument features an engraving of Nicolas Poussin’s painting “The Shepherds of Arcadia” and the inscription “OUOSVAVV” framed by the letters “DM.” Countless theories have been made, including: • Masonic symbols lead to the hidden location of the Holy Grail treasure with the outside letters “DM,” meaning “Devout Mason.” • A tribute to the owner’s late wife with the letters standing for “Optimae Uxoris Optimae Sororis Viduus Amantissimus Vovit Virtutibus,” meaning, “Best of wives, best of sisters, a most devoted widower dedicates [this] to your virtues.” • The monument is a dead end with jumbled letters to taunt those who look too deeply into inscriptions. O·U·O·S·V·A·V·V THIS ENIGMATIC INSCRIPTION REMAINS UNSOLVED Discover the Theories Behind Shepherd’s Monument While this may seem like a distant reality, it’s closer than you think. This shift in customer demographics requires an all-new approach to marketing and operations that you should be ready to tackle. Read more about how your business can better prepare for machine customers in this outstanding book. ink when it senses levels are low or coffee machines that purchase more pods when stock runs out. Phase two expands when smart assistants become widespread and can make knowledgeable purchasing decisions. The machine’s intelligence has increased, and it will be able to shop for various products from a range of companies. Suddenly the work of choosing what products to buy is being moved from the customer to the machine. Machines will decide what items to purchase based on factual information alone, such as best value and healthier ingredients. Finally, phase three involves the machine customer becoming completely autonomous. The AI customer can predict the need for an item, replenish with the best product available, and complete the purchase with zero human interference. This new feature can benefit small-business owners by taking over the time-consuming task of calculating inventory, identifying customer preferences, and purchasing stock.
HAVE A Laugh the inevitability of AI shoppers becomes apparent, but what does this actually look like? Raskino and Scheibenreif describe AI-enabled customers as technology that shops for us and will overtake the decision-making process when purchasing products or services. In this surprising book, the writers describe three phases regarding the evolution of machine customers. Currently, we’re at “base zero,” where tech can inform us when an inventory of a specific product is low. We can see early- AI customers in companies like Amazon, where Alexa can purchase an item or its Dash Smart Shelf can sense when an item needs to be replenished and reorders for you. So, what are phases one, two, and three? Phase one involves machines being able to purchase items for a customer, but only from a single manufacturer or product type. Some examples are printers that reorder
Do you agree with any of these theories?
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Jeremy Wyatt jwyatt@harrisonlawgroup.com HarrisonLawGroup.com (410) 832-0000
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Inside This Edition
1. 2.
A Shortcut to Life
Are Your Employees Staying Educated?
3.
Get Ready for AI Customers Can You Solve This 18th- Century Cipher? How to Revive a Failing Marketing Strategy
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HERE’S HOW YOU CAN BRING IT BACK TO LIFE MARKETING STRATEGY NOT GOING AS PLANNED?
Marketing isn’t easy, and despite spending countless hours and resources crafting a marketing strategy, it can still fall flat. The definition of a “failed” marketing campaign is undoubtedly subjective, but if you see that there’s been no significant impact and your ROI isn’t cutting it, then it’s time
return to the planning phase to differentiate your message from your competitors. Amp up the offer. Gifts, special sales, discounts, and other incentives are some of the reasons a potential customer will engage with your business, but if the offer isn’t valuable enough, they will ignore it. Whatever desired action you want your clientele to take, you need to ensure they’re receiving enough in return. Evolve and adapt! If none of these approaches
to get back to the basics. Think like a customer.
Your campaign may have seemed bulletproof initially, but if you see less than great results, it’s time to think less like a business owner and more like a customer. As a customer, consider what issues may have caused you to react negatively, or not at all, to this marketing strategy. Was the targeted audience too broad? Was the messaging not powerful enough? Consider specifying your target demographic and redirecting your message to fit that audience. Make it memorable. Thanks to social media, consumers are constantly bombarded with ads and offers from countless companies vying for their business. This means your marketing may have gotten lost in the noise by failing to stand out and grab someone’s attention. So, check if your campaign is similar to others that launched around the same time. You may need to
work for you, start fresh. Take a new route and use the new information you’ve learned after evaluating your
strategy’s results. Don’t consider this marketing
strategy a failure but a learning experience that will help you build more effective campaigns in the future. Learn from your mistakes, and you can come back stronger and better than ever!
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