The Power of Human Analytics with Michael Hall
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Episode 28: It’s my pleasure to welcome Michael Hall, Executive Advisor with Hall & Associates to discuss the topic of Human Analytics. As Mike describes it, think of this as Moneyball for companies. He uses analytics to help business leaders to gain valuable insights when it comes to managing, leading and inspiring employees and managers. Human Analytics Mike begins with a definition, from Google, that captures the essence of Human Analytics. “The systematic identification and quantification of the human drivers of business outcomes.” Similar to the move ,...
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Show Up Positive Book by Rita Ernst
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Episode 27: I’m happy to welcome Rita Ernst to the studio to discuss the launch of her new Show Up Positive book. You may remember Rita from . She is an industrial/organizational psychologist, who became a business consultant and now, a published author. She’s appeared in the local news, on radio and to a book signing with 70 people. Let’s learn about how her approach to helping individuals to have a positive impact. To order a copy of the Show Up Positive book, click one of the links on this page: I want to thank you for taking the time to...
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HR Alliance Offers an Innovative Approach
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Episode 26: I’m happy to welcome Marcy Young to the studio for today’s episode. Marcy is the Founder and CEO of HR Alliance LLC, in Louisville, Kentucky. She’s developed a business model enabling companies to contract with her and her team of HR specialists, without having to hire them in-house. It’s an ideal way to get the HR expertise a business needs for ongoing help, project-based initiatives or a hybrid plan customized to meet specific needs and/or situations. Does Your Company Need Help with an HR Issue? Contact Marcy Young and her team of HR Professionals...
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Cyber Liability Insurance Are You Covered?
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Episode 25: Cyber security and cyber theft are real issues for small business owners. There are now cyber liability insurance policies available to cover you, should you fall victim. In this episode, I interview Beth Combs and David Goheen from Gallagher, a large insurance company providing multi-line insurance, risk management and consulting services.
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Why You Should Write a Book - Cathy Fyock
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Episode 24: Ever think about writing a book? In this episode, I interview Cathy Fyock who’s a professional book writing coach. We’ll discuss how she works with her authors, why you should consider writing book and part of the process involved in accomplishing it.
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Mental Health Marketing Tips and Advice
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Episode 23: I invited my friend and colleague Andrew Aebersold to join me to discuss mental health marketing. He’s the Founder/CEO of Mediaura, a digital marketing company. We'll focus on issues related to effectively marketing a solo practitioner, a practice group or a larger company, such as a behavioral health facility. Both of us have experience in this healthcare segment. Marketing a mental health practice requires an understanding of the unique issues.
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Businesses Should Think Differently in 2021
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Episode 22: The business assumptions, rules and paradigms you used to guide your business through 2020 and previous years won’t necessarily apply in 2021. Join me for a discussion with Industrial psychologist and business coach Rita Ernst and photographer/brand & image consultant Coral Abood. If 2020 was the year of pivot, 2021 will be the year of flex.
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Protecting Your Healthcare Practice with Parker Wornall
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Episode 21: Louisville attorney Parker Wornall joins Jim to discuss the work he does for healthcare providers. His focus includes dental offices, foot and ankle practitioners, APRN practices, chiropractors, mental health practioners, adult day-care practices and others.
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Insurance Topics with Wendy and Alan Hall
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Episode 20: Wendy and Alan Hall join me for a discussion about the Alan Hall Agency. They work with various types of insurance. Their business recently went through some changes, so I thought it would be a good idea to ask them to walk us through the process. We also discuss some common insurance pitfalls for business owners.
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Interview with Bellarmine's Dr. Frank Raymond
Grow For It!
Episode 19: I’m proud to welcome Dr. Frank Raymond. He’s Bellarmine University’s Interim Dean of the Rubel School of Business and MBA Director. We discuss how business owners are making sense of the 2020 economy. This discussion is an informal exchange of ideas. These ideas do not necessarily reflect the views of Bellarmine University. Seek advice from lawyers, accountants, tax consultants, financial experts or other professional advisors before making decisions that may impact jobs or businesses.
info_outlineEpisode 20: My good friends Wendy and Alan Hall joined me in the studio for a discussion about the Alan Hall Agency. They work with various types of insurance. In June of 2018, they appeared on my small business radio show, Let’s Get It Started. Their business recently went through some changes, so I thought it would be a good idea to ask them to walk us through the process.
Their business was founded in 2013. Today, they primarily focus on Medicare, health, home and automobile insurance. Earlier this year, they relocated their office, just before the COVID crisis. All things considered, the business is still doing well.
One of the drivers behind the relocation was the opportunity to expand their lines of business insurance policies. However, that area if far more complicated and takes much longer to process. The other types of insurance they provide are much more efficient to quote and process, based on their years of experience.
The learning here is that they noticed the strain on their productivity and took steps to make a vital decision for the health of their agency. Small business owners often simply try to gut it out, often to the detriment to both their businesses and their clients.
The Alan Hall Agency is a brokerage. They have access to multiple insurance carriers. Other agencies may be a “captive” agency, which only offers one carrier’s product (e.g. State Farm). Alan feels the inherent advantage to being a broker is the ability to shop for the best coverage, based on the needs of their clients.
Don’t Buy on Price
Wendy addresses the common mistake of purchasing insurance policies based on price. There are often gaps in the levels of coverage. Insurance policies aren’t always apples to apples, because they can be customized to achieve certain types of coverages and premium price levels. Buying insurance on price can lead to unanticipated risk and exposure.
Automobile Insurance Issues
Alan, Wendy and I have a mutual friend, Steve King of MK CPAs. In one of Steve’s podcast episodes, Steve discussed the importance of performing a mid-year review for your business. As your business and personal situations change, your needs often change as well. Wendy and Alan are happy to help you assess your coverage.
In the area of auto insurance, I described some good coverage recommendations my friend attorney Jim Desmond made to me about the value of maximizing your UM/UIM coverage. Wendy fully agrees that a minimal price increase to the premium can add thousands of dollars in coverage. She also described a tragic situation her client experienced after deciding not to upgrade his insurance policy.
Life Insurance Issues
Regarding life insurance and those types of issues, I mentioned how attorney Scott Scheynost recently helped us draft a Will, POA and healthcare directives for my college-age son. Anytime your children reach the age of 18 or older, they are legally considered adults. Having these important documents in place, even for young adults, is extremely important; especially when vital decisions need to be made on their behalf.
Taking out a life insurance policy at a young age gives you the advantage of locking in rates at a much lower price that if the individual were to wait until they’re older. Alan discusses how some policies are considered convertible.
Insurance for Business Owners
One way to protect your spouse and heirs is to consider using a term life insurance policy to pay off the note on a commercial property, should you pass away. It can prevent them from being burdened with unexpected debt and the loss of your income.
Business owners commonly underestimate the need for proper levels of health insurance and disability insurance. Unforeseen emergencies can easily place your business at risk. The sudden decrease or elimination of your income or ability to operate your business is something we don’t like to consider. Nevertheless, it happens.
Long-term disability insurance can be one of the strategies you can implement to replace some or all of the income you were producing before the accident or illness occurred.
To contact Wendy and Alan Hall:
502-345-9440
Thank you for taking the time to listen to this episode. I hope you found the information insightful. To listing to additional episodes of the Grow For It podcast, please visit my small business consulting website, search for it on Apple Podcasts (iTunes), Google Podcasts, iHeart Media Podcasts and other podcast directories. Be sure to subscribe, at no cost, to keep up with the most recent episodes.
Finally, if you’re interested in developing and launching a podcast for your business or organization, I’d be happy to help. I provide this service on a regional basis. Visit my podcast production services page for more information.
Until next time, remember, if you need help with your small business, Let’s Grow For It!