Take a look at our August newsletter!
307-322-2545 • CHBEF.COM
SUMMER: THAT’S A WRAP AUGUST IS FULL OF EXCITEMENT
August is a busy month. We are all beginning to wrap up summer, prepare for kids to return to school, and welcome autumn. (Hello, back-to-school shopping!) It’s a time when we squeeze in those last barbecues, weekend getaways, and fun in the sun. This month, we reflect on all we’ve done these past few months, and with fall festivities on the horizon, the excitement is only building. With so much buzz, here are some other August festivities and activities on the agenda. National Mountain Climbing Day On Aug. 1, National Mountain Climbing Day makes it to the top of those “just for fun” calendars. It’s a day to celebrate the chances we take in our lives and the uphill battles and climbs we face. Just like at CHB, you surely encounter many struggles and obstacles in your broker business. But we have found some qualities crucial to continuously climb to new heights and seize opportunities. 1. The Ability to Pivot First, when one door closes, you must be able to pivot and move on to the next without wasting much time — this is critical. It’s important to always have a “Plan B” in your back pocket. Hopefully, you won’t ever need to use it, but the preparation will always help the recovery. 2. Curiosity Be forever curious. Always ask why. Never shy away from your curiosity — it will help you to eliminate flawed assumptions that eventually lead to
poor relationships. Asking before jumping to conclusions will give you a clear picture of the task at hand.
3. The Importance of Always Learning Be a forever learner. Always engage in anything that piques your interest. Find hobbies and experiences that have a deep meaning in your life and dive in! Engage with others in the field who are a step or two ahead of you! National Work Like a Dog Day On Aug. 5, we celebrate National Work Like a Dog Day, encouraging us to work hard and meet every challenge. Here at CHB, we know the value in working your tail off to see results and find success. We are firm believers in working smart, too. This combination will ultimately make you unstoppable. Hard work will only get you so far, but when you combine tenacity with thinking, focusing, and taking in other ideas and initiatives from other industries and professionals, your abilities will grow exponentially! While it’s essential to work hard and put in the effort, you must also allow for downtime and time spent with those most important to you. As we wrap up summer, focus on activities and hobbies that bring you joy and embrace this last bit of sunshine and warmth before fall and the holidays roll around!
–Kit West & Ed Meyer
WHAT IS ETHICAL INVESTING? Use Your Values to Make Financial Decisions
Do you want to start investing but are wary of funding large corporations with questionable ethics? Ethical investing is when people make investment decisions that align with their morals. When investing ethically, you support sustainable companies committed to widespread positive social change. Of course, “ethical” is subjective and means various things to different people. Ethical investors often research companies before investing to discover how the business impacts the world around them. These can concern human rights, environmental sustainability, and more. What is the difference between ethical and ESG investing?
However, ethical investing follows a more comprehensive approach and considers ethical matters that may not be discovered when assessing a company’s ESG standards. Some ethical concerns may include:
Fossil fuel usage
Child labor violations
It’s entirely up to the investor to decide which causes they want to invest in or eliminate from their investment portfolio through the companies they research and choose. Do ethical investments have high returns? While not all investments can guarantee a high return, one 2019 study by Morgan Stanley Institute for Sustainable Investing found the return on investments focused on ethical choices was not noticeably different from traditional investments. It doesn’t hurt to care! Ethical investors actively work to support moral values in businesses and encourage sustainable practices. As more and more investors choose to support these companies, other businesses are pressured to clean up their acts and work harder to make a difference. Our ethical values, applied to investment choices, can make a huge impact! No one needs to throw away their values to start investing.
Ethical investing is similar to ESG investing, which evaluates a company’s environmental, social, and governance (ESG) standards. The difference? Ethical investing takes it a few steps further. For example, ESG investing looks at issues that can include: • Climate change • Waste management • Gender and racial discrimination • Employee safety • Accounting practices
‘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, 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 ink when it senses levels are low or coffee machines that purchase more pods when stock runs out.
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. 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.
Phase two expands when smart assistants become widespread and can make knowledgeable purchasing decisions. The machine’s intelligence has
Raspberry and Fig Oat Bars
WE WORK HARD TO KEEP ALL WIRE TRANSFERS SAFE!
Inspired by Delicious.com.au
INGREDIENTS • 1 1/2 cups all-purpose flour • 1/4 cup cornstarch • 1 tsp baking powder • 1 cup and 1 tbsp rolled oats, divided • 2 sticks chilled unsalted butter, diced
• 2/3 cup caster sugar (superfine granulated) • 2 eggs, beaten • 1 tsp vanilla extract
• 1/4 cup raspberry jam • 1 1/3 cups raspberries • 3 figs, quartered • 1 tbsp turbinado or brown sugar
1. Preheat oven to 350 F. Grease and line an 8x12-inch pan with parchment paper. 2. In a medium bowl, combine flour, cornstarch, baking powder, and 1 cup oats. Using your fingertips, rub in butter until crumbly. Stir in caster sugar, then add egg and vanilla. Stir until clumpy. 3. In the pan, smooth three-quarters of the mixture evenly. Spread jam over the top, then add fruit. Mix leftover oat mixture with turbinado sugar and remaining oats, then sprinkle over the fruit. 4. Bake for 40–45 minutes until golden. Cool in pan for 10 minutes, then slice and serve.
Fraud and scams are becoming more common every day. In the blink of an eye, your client’s hard-earned money could be stolen or compromised in a fraudulent transaction if they aren’t careful! Here at CHB, we understand the importance of secure and reliable wire transfers. Thus, we take extra care and precautions to ensure all wires are safe from and impervious to interception by malicious parties and entities. To guarantee the safety and accuracy of your clients’ equipment purchase wires and down payments, we confirm all wire instructions and banking information over the phone with the intended recipient. Our team of dedicated staff reviews and inspects all wire transfers for any suspicious markers or signs. Additionally, all permissions to send wire transfers are limited to designated trained users, and the ability to transmit and receive wires is restricted to particular computer names on our network. To further enhance the security of each transaction, all CHB wires are sent over an encrypted VPN tunnel, consistent with Nacha Operating Rules. Lastly, to ensure your confidence in the effectiveness of our wires’ security policies, procedures, and systems, all wire transfers are recurringly audited and evaluated to maintain the highest standards.
Take a Break
To help your client to stay protected in all wire transfers and transactions, here are some tips to share with them:
Check your bank account every month for invalid transactions.
• Protect your information by knowing to whom you provide your information. • Don’t use cash wire transfers unless it is absolutely necessary. • Don’t send transfers to unknown parties or companies. • Be familiar with the scams out there. CHB prioritizes the protection and safety of your customers’ financial assets. Our wire transfers, whether for a down payment, equipment purchase, or your broker commission, are protected by advanced cybersecurity measures.
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C.H. Brown Co., LLC A PLATTE VALLEY COMPANY 20 W. Frontage Rd. • Wheatland, WY 82201 307-322-2545 • chbef.com
1 Much to Be Excited About This Month 2 Ethical Investing Explained 2 Get Ready for AI Customers 3 Raspberry and Fig Oat Bars 3 Let’s Talk Wire Transfer Safety 4 Entice Clients to Open Your Emails!
OPEN OR TRASH? HOW TO INCREASE YOUR EMAIL OPEN RATES
What is the main way you keep in touch with your clients? Email!
and up to date with interested clients. Sometimes, clients change email addresses or lose interest in your services. If you haven’t heard from a client in over six months, it’s time to check in with them personally or remove them from your list! Personalize your emails. This one is huge. Make your emails feel less like a mass-spam message and more like a tailored message just for them. Personalization tactics such as addressing your clients by name and sending relevant and timely emails work wonders! Segment your emails and lists. It’s important to filter who receives which emails. One of the largest determining factors in whether someone will open an email is if it is
relevant to them. Divide up your list by interests, age, gender, and the piece of equipment they are interested in to ensure the emails that pique their interest hit their mailboxes and ones that won’t ever get directed their way. Nail down your timing. Timing is everything! The time and day in which you send your emails matter! Experiment with the best windows to send emails to your clients so when it comes time to send the important ones, you know they will receive optimal attention! By following some of these tips, you’ll be well on your way to increasing your open rates and, thus, converting prospects into clients! Good luck!
It’s quick, easy, and efficient! According to Hubspot, 64% of small businesses utilize emails to reach their clients, and on the flip side, 73% of customers prefer email communication. But once those emailed promotions, advertisements, and notifications are sent, how many are actually opened? Here are a few ways to increase the open rates on the emails you compose and send! Keep your list updated. Do the recipients on your list want to hear from you? It’s essential to keep your email list fresh
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