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June 2023
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Thankful for the Fathers Who Give Their All
You Are Appreciated
Nothing is as special as being a father to your children, but fatherhood is becoming more complicated every day. When you mix the recent sweeping shifts in American culture with the political divisiveness that threatens to overwhelm our current social climate, it’s no wonder so many parents are struggling to find their footing. Yet, even as I see so many dads stepping up to meet the challenge head-on, it seems that good fathers are less recognized and less appreciated than ever. All too often, the media focuses its attention on the missing-in-action and the abusers instead of drawing attention to the good guys who are doing their jobs and trying their best to raise responsible and productive children. That’s why this month, with Father’s Day right around the corner, I’d like to give a shoutout to all the dads out there who are putting in the work and regularly engaging with their kids. Between dads who are present in their nuclear family and raise their children alongside their spouses, single fathers who do everything in their power to support their children, or recent empty nesters who are funneling their energy into their grandchildren, there will always be fathers who go above and beyond to be there for their children. No matter the situation, there will always be challenges. Still, it’s my opinion that the dads who are putting in an honest effort to be there for their families deserve a little recognition and a lot of respect, especially in this cultural climate. As long as you’re engaged in your kids’ or grandkids’ lives in some meaningful way, I think appreciation and gratitude are in order — society desperately needs you! I know how difficult raising kids can be amid a challenging situation. I’ve written before about how blessed I feel having not only my three biological children in my life but also my three stepdaughters. That’s not to say it’s always been easy. In truth, it was far from it. Back in my workaholic days, I wasn’t as engaged as I should have been and hurried from one meeting to the next, entirely preoccupied with growing the business and chasing success. When I realized this mistake, I redirected my focus to balance my family priorities with my work priorities, which generally worked much better for the entire family.
Like many of the men reading this, I’ll be the first to admit I’ve made more than my share of mistakes as a dad. But I believe the bottom line is that we, as fathers, must stay engaged, give maximum effort, and fight stereotypes to remain relevant for our kids. I’m not about to tell other guys what kind of dad they should be because I’m far from a perfect example. That’s not the point of this article. Instead, I want to share my appreciation for the fathers who are giving it their all and encourage others to do the same. All we can do is try our best for the people who depend on us, and I see countless other dads doing that daily. I want to wish a happy Father’s Day to all of you out there navigating the tricky waters of fatherhood as best you can. It isn’t always easy, but as you and I both know, it’s always worth it. There’s nothing more rewarding or fulfilling than the journey of parenthood.
–Brad Johnson President, Risk Services of AR
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LIGHTS! CAMERA! SALES! SHORT-FORM VIDEO MARKETING IS TAKING OVER Any business incorporating the best marketing practices has been using videos to connect with its customers for years. But with the advent of TikTok and Instagram Reels, people want bite-sized clips to deliver information without fluff. Businesses looking to keep audiences engaged must begin incorporating short-form content into their marketing strategy. Most experts define short-form video as lasting 60 seconds or less, and Influencer Marketing Hub reports that 73% of internet users prefer them to longer videos. Social media has conditioned people to enjoy brief content that quickly gets to the point, and TikTok purposely shows users video after video. The format is also taking over other platforms, and users find loosely scripted, on-the-fly content more relatable than meticulously produced videos. Fortunately, research indicates that short-form videos attract more engagement than static images. These are low-budget videos, so many marketers believe they have a higher return on investment (ROI) than traditional videos and are more likely to result in a viral hit. Best of all, the shorter the video, the more likely someone will watch until the end and absorb your entire message. But if your video doesn’t quickly grab a viewer’s attention, they know another potentially more interesting one will immediately follow. So, your videos should incorporate an instant hook to get users engaged. You might try a provocative question in the text over the video, an attention-grabbing song, or striking initial imagery. Many people new to short-form video don’t know where to start, so it’s crucial to note that it’s about more than making briefer versions of your existing content. Encourage user- generated content from people using your product, show behind-the-scenes clips that might interest your audience, or quickly answer a frequently asked question. If you want to stay relevant, your marketing team should remain on top of the latest trends. We don’t recommend jumping on the bandwagon for every “challenge” that appears on your feed, but you should watch for trends that fit your brand and will resonate with your audience.
DON’T UNDERVALUE YOUR BUSINESS Insurance rates have been on the rise over the past couple of years. Many of us have noticed it with our car or health insurance, but property insurance has also significantly risen, creating one of the most challenging times in the history of our country’s property insurance market. Property insurance rates have steadily risen over the past five years, and they are expected to continue to increase throughout 2023. Many have wondered why the rates have increased as much as they have. The truth is that many factors have contributed to this increase. Many have chalked it up to the record-high inflation we’ve experienced recently. While this certainly plays a role, we’ve seen widespread supply chain interference due to political instability, rising material costs and labor shortages, the war in Ukraine, extreme weather disasters, and significant loss experience, which occurs when loss amounts are vastly higher than past experience would project. These issues are causing headaches for business owners as they try to figure out how much coverage they need to protect their businesses and how much they can afford. Many are finding themselves underinsured or have been forced to take on large deductibles. Kroll, a risk consulting firm based in New York City, recently analyzed property appraisals for businesses across the country, and their findings are shocking: 68% of businesses valued from 2020 to 2021 were underinsured by 25% or more, 19% of which were underinsured by 100%. Nearly 90% of buildings appraised during this time were undervalued. Since these businesses are not properly valued, they’re putting themselves at risk if an incident should occur that causes them to rely on their insurance policy. This can make it difficult for them to get their claims paid properly, as their total loss amount may be greater than the reported values for their property assets. Additionally, underwriters will ask questions about how each business owner calculates their replacement costs. Having incorrectly valued assets makes this process much more difficult and may lead to potential carriers declining to quote. So, what can business owners do to ensure their property is valued correctly? It starts with staying up to date on your valuations and getting your property’s replacement costs reevaluated regularly. We’ll go into more detail in next month’s newsletter.
Finally, remember that authenticity is the point. Short-form videos should be playful and spontaneous and talk directly to your audience. Users won’t connect and share if it looks like a TV commercial; they’ll see it as just another ad and keep scrolling.
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Flying by the Seat of Her Pants
A NOVICE PILOT’S CHALLENGING 3RD FLIGHT
tower to inform them of what was happening. The control tower operators had never experienced a situation like this and were unsure what to do. Yates asked them to patch him through to Hash so he could provide directions. The first thing Yates said was, “Taylor, this is Chris. My daughter’s name is Taylor and I taught her to fly! We’re gonna be just fine, kiddo.” Hearing these words provided relief and reassurance to Hash, but she still had to land the plane. She circled the airfield a few times to build up her confidence before starting her descent. Yates told her, “When you touch down, I just want that stick all the way back. You’re gonna hold that stick back like you don’t want that nose to touch.” Hash was able to successfully land the plane without injuring herself or causing further damage thanks to Yates’ direction. Even after the incident, Hash has no plans to stop flying and hopes to be a career pilot one day.
All of us have hobbies we’re incredibly passionate about. Sometimes, we’re able to turn these hobbies into full-fledged careers, while in other instances, they remain an enjoyable way to pass time. There was a moment when we were first discovering our hobbies when we were novices and weren’t entirely sure how to handle every situation. This isn’t a big problem when you’re learning to play a sport or a card game, but if your hobby involves danger, you could find yourself in a difficult position. A young woman from Michigan recently learned this the hard way, but the outcome gave her an experience that will fuel her passion for years to come. A 21-year-old named Taylor Hash had recently learned how to fly and was undergoing her third solo flight in March when the unexpected occurred. She took off from an airport in Pontiac in a Diamond Star single-engine aircraft when another pilot noticed something strange. Upon takeoff, part of Hash’s landing gear fell off, leaving her without a front tire to land on. Luckily, Chris Yates, a veteran pilot and the former director of aviation at SpaceX, saw the incident and radioed the control
Solution on Pg. 4 Have a Laugh!
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INSIDE This Issue
A Tribute for Dads on Father’s Day! page 1
Short-Form Video: More Than Just a Fad Why Property Insurance Rates Are Rising page 2
How an Inexperienced Pilot Avoided Disaster Take a Break page 3
The ‘Shark Tank’ Contestant Who Didn’t Give Up page 4
From ‘Shark Tank’ Reject to Star CEO How Melissa Butler Overcame Failure
Detroit and sits on shelves in over 500 Walmart and 750 Target stores. Butler announced in early 2023 that The Lip Bar is now the largest Black-owned makeup brand on Target shelves. Former first lady Michelle Obama and actress Taraji P. Henson have both worn the company’s shades. As her company continues to expand and roll out new products, Butler doesn’t shy away from her less-successful past — she actively celebrates it. The Lip Bar CEO regularly tells her story and even placed a billboard in her hometown of Detroit, noting how she beat the odds. It read: “‘Shark Tank’ told me to quit. 10 years and 2 million units sold. Thanks, Mr. Wonderful.” These days, even Mr. Wonderful is on board. In a 2022 interview, O’Leary admitted that he got it wrong. “They were facing an almost impossible task,” he said. “They pulled it off, so you gotta applaud them.” Impressed by how she beat the odds, MarthaStewart.com asked Butler last year what advice she had for other entrepreneurs. “Keep working towards your goals,” she responded. “Because your idea will never become reality if you don’t do it.”
Melissa Butler, CEO of skincare and cosmetics company The Lip Bar, had her first brush with fame when she appeared on a 2015 episode of “Shark Tank.” But it was almost her last. The “sharks” not only didn’t like her idea — they mercilessly skewered it. Butler’s journey began in 2012 when she decided the beauty industry needed more diversity and natural ingredients. So, she started mixing her own lipstick shades in her kitchen. But when she presented her bold and beautiful creations on “Shark Tank,” the experts called them “clown makeup.” Kevin O’Leary, also known as “Mr. Wonderful,” was particularly harsh. He told her the cosmetics market was oversaturated and that she should quit while she could. Never one to shy away from a challenge, Butler did no such thing. She knew Black women and other women of color wanted cosmetic options that better suited their skin tones and continued making her vegan, cruelty-free, and affordable lip products. Butler did not find success overnight, and it might have seemed the sharks had a point.
But she began to make headway into retail outlets, and in 2022, The Lip Bar closed $6.7 million in seed funding. The company now has a flagship store in
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