Archive
May Day Precautions and Prevention Lessons
I will never forget last year’s May Day protests. My wife Barb and I were in New York City and sat in Bryant Park watching protesters peacefully march with signs around the Big Apple. The New York City Police were out in force, looked serious about their jobs, and everyone stayed cool, calm, and collected. We never felt like we were in danger, nor felt fearful. Imagine our surprise when we returned to our hotel and saw our very own Seattle on the news. May Day riots were out of control in the downtown area with protesters smashing windows and setting cars on fires. I couldn’t believe what I was seeing. Here I was safe and sound in one of the biggest cities in the world, and my relatively small hometown was being ravaged.
This year, things are different. The police have already started preparations and are sure not to be caught flat-footed again. In addition, businesses are being much smarter. I just saw a push notification on my phone indicating that US Bank in downtown Seattle was closing up shop at 3 pm due to the expected protests. They made a decision in the best interest of their customers and employees. While they might not be able to prevent damage to their building, they do have control over the people they serve and employ. While it might be a slight disruption for customers, my guess is that it pales in comparison to anyone being injured.
The lesson for you as a business owner is this…
You need to learn from history. I can’t tell you how many times in my years as an insurance agent and consultant, where I have seen business owners ignore history and trends to their detriment. For example, if you have a fleet of cars that continually racks up rear-end accidents, and you take no preventative action to educate and/or discipline your drivers, you will fall victim to larger self insurance costs, higher premiums, and loss of production and revenue. In this case today, US bank knows it’s located right in the heart of the rally. They know that banks are a target. They saw what happened last year. They made a decision to avoid calamity in the places they can control. Kudos to them.
You need to be skilled at spotting trends. If you have a strong, professional relationship with your insurance agent, they should help you. This is an area that consultants are invaluable. The net result of learning from history is that you don’t repeat the bad stuff; only the good stuff! At least one business in downtown Seattle has figured it out. Have you in your business?
© 2013 Dan Weedin. All Rights Reserved
Crisis Prevention, Planning, and Response
I just got done speaking to a tremendous group of women business owners and executives in New Jersey. They just went through a devastating storm last October that was unprecedented in its impact to communications, transportation, and power loss. We spoke about that storm, as well as other crises that can impact their businesses like – loss of power, data breach, and employee issues.
Here is what I heard loud and clear from them…
- They want to improve their ability to communicate to employees and customers in a crisis. That means setting up layers of redundancy in case of loss of power, email, cell phones, or whatever other methods are being used.
- They want a plan that is in place to deal with any crisis that comes around the bend. It must be something that is repeatable, intentional, and practiced.
- Speaking of practice, most business owners and executives rarely set out practice plans (i.e. fire drills or corporate war game scenarios). How do you know it works if you never practice?
My recommendation is to set up a 3-step process for disaster planning…
Step 1 – Set a budget to include insurance premiums, outside consulting help, technology, and internal controls. This will be different for everyone due to insurance premiums, number of employees, and perils.
Step 2 – Go through disaster and crisis prevention response and planning. Allocate at least 8 hours out of an entire year to do this and re-commit annually.
Step 3 – Buy the insurance, monitor your plan, then relax and do what you do best in your business.
You can drive yourself crazy and easily drift into analysis paralysis if you allow yourself to. Make the process simple and move forward. The problem for most businesses is that they never spend the fraction of the time they need to prepare. Doing this little process by itself may save you tens of thousands of dollars, if not more.
© 2013 Dan Weedin. All Rights Reserved
Foresight 20/20 Episode #1 – Who Do You Love?
© 2013 Dan Weedin. All Rights Reserved
Crisis Response 101 – The First Step
The first step in any desperate situation the temptation is to act immediately. It’s understandable, but unwise. No matter how bad things are the first step is always the same. Assess the threat and figure out how bad things really are…
I was watching the USA Network television series, Burn Notice last night on Netflix. The episode always starts out with the protagonist giving what amounts to consulting advice on being a spy. In this case, it applies to you and your business.
Copyright 2012 Dan Weedin. All Rights Reserved
On Being Tom Brady in the Boardroom
Tom Brady
A great quarterback on the football field, and a great point guard on the basketball court “see the field.” In the midst of a lot of flailing arms and legs; crowds roaring; and people yelling at them, they can slow down the action and make the play.
My football career was limited to a backup quarterback in junior high. My best friend was the starting quarterback (he later went on to play in college, so I guess it was the right call). He got to practice behind the first-string offensive line against the second-string defense. I was just the opposite. My protection were guys who were just learning to walk and chew gum at the same time. My large and aggressive friends were on the defensive line waiting to attack me.
I remember dropping back to pass in practice. I would take my drop and start to survey the field. I knew there were receivers out there somewhere, running a pattern that I had called in the huddle. But all I saw was big guys with big arms chasing me all over the place. I ended up running for my life more often than not. I wasn’t talented enough to be able to stay calm in the pocket; move around as needed; and see the entire playing field.
Crisis management is like that in business. When crisis happens (and it will happen) are you running around like Dan Weedin at North Whidbey Junior High, or are you cool like Tom Brady? Would I get the same answer from your management team or employees?
Being a great crisis leader involves several things that great quarterbacks and point guards do or have…
1. Coaching. Tom Brady has a coach. In fact, he has several – Head Coach, Offensive Coordinator, Quarterbacks Coach, Strength & Conditioning Coach. You may have all the talent in the world, but if you can’t maximize it, you are just another quarterback. Coaching maximizes talent for athletes and it does so for business leaders. You know your business. You probably need help in other areas. Get good coaching on how to avoid, respond to, and manage crisis.
2. Vision. For Quarterbacks, this tends to be a physical feature. Yes, you can be trained, but there is an innate ability for the great ones to see the field with tremendous vision. For business leaders, the vision is in your head and it is also innate. You got to where you are by being visionary. In my experience, that is the common trait that employees use when describing their successful boss. However, when it comes to managing crisis, being visionary is tougher. If you don’t understand your vulnerabilities or the consequences, it’s tough to understand how you react. In this case, vision needs some homework. Learn your organizational vulnerabilities. Communicate and learn from your team. Decide in advance how you will handle a crisis. Make the decision before the decision needs to be made.
3. Practice. You’ve probably heard it said that becoming a rock star in your field takes 10,000 hours of “practice.” Tom Brady, Aaron Rodgers, Magic Johnson, and John Stockton all put in extra hours on the field, on the court, and in the gym. It shows up when they play the game. How often do you practice crisis response? When was the last time you tested your insurance? How do you know your team will respond well to crisis if you’re not there? Practice is essential to being a tremendous player and seeing the field. It is also essential to you being able to survive a disaster.
Leadership means more than looking good in the corner office. It involves powerful communication skills, courage, vision, and humility. It also means that you have the understanding that the future of your business, its people, and your supply chain are counting on you to be Tom Brady. When you are facing an all out blitz, can you make the right read and complete the pass on 4th down? You may not be on a football field. You may instead be dealing with an issue that determines your business continuation and survival.
Are you prepared to be Tom Brady?
© 2011 Dan Weedin. All Rights Reserved
Finish Strong 2011
I’ve got a special deal on one of my most popular programs to help you finish 2011 strong and be geared up for 2012…
Being underinsured or improperly insured on your business can have devastating effects on your cash flow and your ability to survive a crisis. Most small business owners overlook this critical part of their business process. Yes, you may have a fine agent, but how often have you tested their work to make sure it is right for you? Too often, you don’t spend enough time talking with your agent and that leads to gaps in protection and overpaying for your insurance.
For the past 6 years, I’ve performed insurance diagnostic assessments for my clients. Basically, I become an unbiased set of professional eyes to make sure you are protected as you think you should be. Here are the results you realize…
- Reduced total cost of insurance (In English, you save money)
- Improved financial protection (In English, you’re covered for more stuff)
- Enhanced ability to lead and respond to crisis (In English, you’ll be able to stay in business because you knew what to do when a disaster strikes)
- Check your agents work. (That’s a bilingual translation – both Insurance and English)
- Peace of mind (maybe the most important)
Here’s what you receive…
- I will provide a complete review of your insurance policies to identify gaps in coverage and places you can save money.
- You receive a comprehensive (yet painless to read) report providing you recommendations, suggestions, and guidance on how to fix your problem areas.
- You receive 2 weeks of unlimited e-mail access to me to help you with questions that come up after the report and on implementation of recommendations.
Note: Over the past 6 years, I’ve uncovered an average of 3 “gaps” in protection and a 10% savings per assessment. These aren’t guaranteed. Sometimes I’ve found less and sometimes more. That’s why it’s average! That being said, I have never walked away without finding at least one gap in protection or suggestion to save money!
My normal fee for this service is $1,500 for a business insurance diagnostic. I know we are still in a challenging economic period, so here is my holiday gift yo you… (read closely as dates of when you do this save you money)
- Starting today through Friday, your investment is only $500 for a business assessment and $750 for a combined business and personal insurance assessment.
- If you wait until next week, the investment goes up to $750 and $1,000 respectively.
- If you wait until after Christmas, your investment goes up to $1,000 and $1,250 respectively.
- After January 1st, we are back to our regularly scheduled programming.
- Between now and January 1st, any personal insurance diagnostic assessment only is $350.
The investment is based on when I receive payment (I accept checks and all major business credit cards). You can start the assessment whenever you want, however I recommend as soon as possible so you can make plans for the new year. I turn around the report to you within 48 hours.
Don’t chance your business continuation. Call me today to get set up for your insurance diagnostic. This offer may well never happen again. Invest in your business’s future and get an assessment on your insurance to protect your life’s work.
Read Testimonials from satisfied clients
© 2011 Dan Weedin. All Rights Reserved
Human Redundancy
There is a tragic story coming out of Oklahoma State University this morning. Head Women’s Basketball coach Kurt Budke and his assistant Miranda Serna were killed in an airplane crash following a recruiting trip. This happens as college basketball is getting started and leaves the university both mourning and grasping for answers.
Certainly, the focus is on the families of Coach Budke and Coach Serna. However, their loss at such a critical time is also an example of how important it is for organizations to be prepared for “human redundancy.” Certainly, the team has other assistants, but these were the head and first assistant. How well prepared the assistants are to take the reigns of a major college program will soon be seen.
What about your organization? Who is next in line if something happens to you? What if a crisis occurs like this where the top two or three go down?
This is often a difficult subject to talk about, but it must be done in businesses of all sizes and even families. Tragedy usually occurs suddenly and having to make decisions in real-time can lead to problems. Take the time now to work out those issues and potentialities. None of us are invulnerable to them…
© 2011 Dan Weedin. All Rights Reserved
Anatomy of a Crisis – Penn State Part 2
I guess maybe the Board of Trustees read my blog post today. They have relieved Coach Joe Paterno of his duties immediately.
This isn’t the last we will hear of this. The fallout will be widespread and legends and reputations tarnished. This isn’t a scandal that involves boosters buying a car for a kid. This has serious issues related to damaging lives.
Damage to reputation has the chance to harm more deeply than any other peril. How do you protect your organization’s reputation?
It’s a question to consider in calm times; not in real-time…
© 2011 Dan Weedin. All Rights Reserved
Anatomy of a Crisis – Paterno and Penn State
It only takes one mistake…
Joe Paterno
Legendary Penn State football coach Joe Paterno is stepping down at the end of the season and leaving Happy Valley in disgrace. Not for anything that happened on the football field; not for wins and losses; and not even for NCAA violations. His 61 years at the same institution (46 as head coach) ends abruptly because he made poor decisions and turned a blind eye to issues involving his subordinates.
Paterno was aware of allegations against his defensive coordinator and friend Jerry Sandusky, who is now being accused of molesting many young boys from 1994-2010. Paterno turned in the information and left it in the hands of his boss. Big mistake. His boss is now being charged with perjury and obstruction of justice. The school’s board of trustees are scampering around trying to quell the uproar. The crisis has now escalated beyond the sports world.
So you may ask, what did Coach Paterno do wrong? He has not been charged with any legal improprieties. Why has he become the central figure of this giant mess? Why will he ultimately be included in civil lawsuits that will continue to haunt his days?
Joe Paterno is Penn State. His brand and reputation over 46 years as the head man at the helm of a successful football program makes him the face of the university. Good, bad, or indifferent; that is the reality.
As CEO of the football program, he bears the ultimate responsibility for what happens on and off the field. Issues dealing with wins and losses may just cost you your job. Issues as detestable as what happened with Sandusky will cost you your job, tarnish your reputation, and potentially hurt the university in a myriad of ways.
Paterno is guilty of doing the minimum. He handed off the issue to his Athletic Director. His next mistake was the killer. He did nothing. He blindly put his trust in his boss to deal with it and then went back to coaching and recruiting. He allowed Sandusky to stay around the program and the campus. In fact, in 1998, the police investigated Sandusky for this type of behavior. At that point, the guy should be gone. Should be allowed nowhere near the campus. Paterno had that control. Instead, Paterno stuck his head in the sand and left it to others to clean up. Here is the problem…when you are the face of the institution and the CEO, you’d better make sure things get resolved.
Paterno told the board of trustees to not spend another minute thinking about him. Really? Paterno wants to go out on his terms and finish the season. I say no. He forfeited that opportunity. The trustees are now the ones in crisis management. What does their communication plan say? What do they need to do to salvage any semblance of reputation for their academic university that has always been viewed as “clean?” In my estimation, you don’t allow one of the central figures in a cover up to have a coronation. Heck, last night, the 84-year old Paterno made the decision that it was okay to encourage a pep rally outside of his home with 3,000 students by leading a “We are Penn State” cheer and a hearty “Beat Nebraska!” Yeah, like that is important. Disturbing. The board of trustees need to show courage in decision-making and dismiss him. If you were in their seats, what would you do?
Hindsight is 20/20. I get that. However, that is why it is so important for executives and business owners to think about this in advance. By virtue of having employees, these things are liable to happen. They are vulnerabilities that you face. How do you respond to employees, the media, your customers, your supply chain, your family? If you don’t have a plan in place now, then you risk your business and your reputation.
If the mighty Joe Paterno, who built an empire in over 60 years, can fall in 5 days, how quickly can you and your organization fall?
© 2011 Dan Weedin. All Rights Reserved
Cell phones and Distracted Driving
I was just quoted in this new online article on distracted driving and cell phones. The question at hand – is this an obsessive-compulsive disorder? Interesting research…I weigh in on the insurance part of it. Worth the read to the end (that’s where I’m quoted)!
© 2011 Dan Weedin. All Rights Reserved
