Harrison Law - November 2020

Harrison Law - November 2020

November 2020 Te Contractor’s Advantage

HarrisonLawGroup.com (410) 832-0000 [email protected]

A Strange Year, but a Good Year

There’s Much to Be Thankful For

There is one thing we can say for sure: It has been an odd year fraught with many challenges, but it has also come with many things to be thankful for. As we approach Thanksgiving, I’ve given thought to what I’m grateful for this year. I’m grateful that Harrison Law Group has continued to perform strongly. This is in part because the construction industry has also performed strongly. I don’t know how or why the construction industry has done so well this year in the light of the pandemic — many other industries have struggled — but it has nevertheless done well. You can be sure that when construction firms are busy, our legal expertise becomes that much more in demand. On a more personal level, I’m thankful for the health of my family. No one in my family has fallen ill, and I hope that remains the case as this year comes to an end and beyond. I’m also grateful for the perspective the last several months have offered, especially when it comes to home and family. We’ve gained a new understanding of just how nice it is to not spend so much time running around constantly. There was a time when our family would be out and about practically every weekend. We might go hiking, visit a museum or two, or meet up with friends, and then by the end of the weekend,

The big question for our family — and I’m sure for many families — is what Thanksgiving Day is going to look like. As I write this, we’re still figuring things out. We generally get together with my wife’s family. She comes from a big Italian family with relatives from all over the Virginia, Maryland, and D.C. areas. It’s always a large, lively gathering, but this year, we might have to do things differently. No matter what happens, I know it will be for the best. We’ll still have a great time with plenty of good food and company.

it. We installed a slackline between two trees in our backyard. Our two kids, who are 5 and 8, love it. And I didn’t know this until recently, but you can get specialized playground equipment designed to be used with slacklines. After this discovery, the kids completely transformed a simple line into something quite substantial. Here’s something I know a lot of parents are always thankful for, including us: We’ve gotten our kids more engaged in chores around the house. I think it’s only fair that if they’re spending more time at home, like the rest of us, they can learn a few more chores! There is one downside from the last few months. It isn’t anything major, but my son, the 5-year-old, has gotten into video games. Now, I don’t necessarily have a problem with video games, but I kind of wish we had been more successful at putting it off for a few more years. Thankfully, his game playing is limited to games like Mario Kart, which is fairly innocuous.

With that, I hope you, too, have a wonderful Thanksgiving!

we would be exhausted. Lately, however, we’ve rediscovered the pleasant simplicity and joy of being together at home.

-Jeremy Wyatt

Our kids have made the most of

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In a Digitally Focused World The Power of Direct Mail

In an ever-growing digital landscape, one disruptor in advertising and marketing stands out: direct mail. That’s right — classic print and paper mailers shipped directly to your customers’ doors are pushing beyond the noise to give consumers an outlet they actually pay attention to. It may be brash to endorse direct mail marketing on a newsletter that we directly mail to you , but your reading of this article should be proof enough: Direct mail works, and you need to try it. If you’re still not convinced, allow us to explain why this is a secret we just have to share. In a world where most of us work and attend meetings, classes, family gatherings, church meetings, and other get-togethers through our screens, don’t you want to be the voice that stands out and appears in their mailbox instead? We have screen fatigue, and people likely aren’t paying too much attention to the advertisements they have been seeing for months. In business, you have to change and develop new marketing tools. Experimenting with direct mail or special offers may cost you some money, but the returns could be well worth the investment and time spent in developing the route. As an entrepreneur, though, the only risks you can take are calculated ones. You have to be sure there will be some reward, no matter how small.

also looking at print and direct mail before making a purchase. In fact, more millennials learn of products through direct mail, even in a digitally focused world. The digital world is still very influential. We may be tired of staring at our screens, yet we find ourselves pulled to social media, streaming services, and blogs even after we log off work. Businesses need to have a diverse online presence, whether that’s on social media, a blog, or your website, but you don’t have to adhere to one platform over the other. In fact, it’s best if you use direct mail to disrupt your online campaigns and use your online campaigns to disrupt your paper marketing. Relationship marketing that directly targets your consumer works every time. Direct mail has always disrupted the flow of standard marketing, and if you’re focusing your efforts solely on the digital platform because of the pandemic, then you’re making a big mistake. Direct mail is one of the easiest ways to connect with your consumers and stand out while doing it.

Direct mail marketing is nothing new, yet it has been proven to work time and time again. Why? When you boil it down, direct mail marketing works because it’s based on an idea that has always stood the test of time in business: the power of relationships. In order to reel consumers into your brand, you need to reach them in diverse ways. Enter direct mail marketing. It disrupts the noise from your digital platforms while connecting with people in a real, personal way. Today’s consumer takes months before making a purchase. When your voice has been consistent, loud, and diverse, you’re more likely to stand out. And today’s target millennial audience is

Want to learn how we produce our direct mail campaign? Just ask!

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Level With

Me By JeremyWyatt

The Crucial Difference Between Typical Commercial Insurance and Surety Bonds The Difference Is in the Fine Print

In these situations, the insurance company acts as your ally. They are there to serve your best interest and offer protection against financial consequences should something go wrong in relation to the project.

From time to time, clients ask me, “What is the difference between more traditional commercial insurance and surety bonds?” There is often uncertainty or misunderstanding as to the difference. At a glance, there are many similarities. Ultimately, they are both helpful in advancing your interests; however, misunderstanding the difference can be costly.

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Surety Bonds

Surety bonds are insurance products sold by many of the insurers that we buy other forms of insurance from, including auto and CGL policies. Similarly, they help mitigate risk, but they do it in a different way. Every construction project comes with its share of risk. Something may go wrong — such as a subcontractor going out of business in the middle of the job, making it difficult to complete the project in the expected time frame. Or maybe the client doesn’t complete the work or doesn’t pay employees, suppliers, or other subcontractors the money they are owed. If the general contractor or owner has a surety bond, they can call the insurance company that issued the bond to take care of the situation.

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Commercial General Liability (CGL) Insurance

This is a type of policy that is generally activated if you do something potentially negligent on a construction project. The insurance company steps in to indemnify you or protect you from financial harm. It’s the same general idea that applies to auto insurance. If, by chance, someone was driving poorly or not paying attention to the road ahead and rear-ended someone, their auto insurance policy would protect them from monetary damage. It may even provide the policyholder with an attorney, if necessary.

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Who Is on Your Side?

For example, if an electrician’s company folds during the project, the insurance company can effectively hire another electrician to finish the job. Or, if a contractor fails to pay their employees/suppliers/subcontractors, the insurer can once again step in to make sure the appropriate people are compensated.

No matter the situation, the end result is the same. The insurance company will come looking for reimbursement.

While they may seem like your ally in making sure things get done and the project continues as expected, they are not your friend. They are interested in minimizing their exposure while maximizing what you pay back. Additionally, they have NO obligation to defend you, unlike with a traditional insurance policy. If it comes down to it, the surety will leave you out to dry. Never misconstrue the insurance policy or product you are buying. Always read the fine print and always walk away with a firm understanding of how you are covered and what to expect from that coverage as you begin work on a project.

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Distinct Differences

While this description sounds similar to a normal insurance policy, the real differences are in the fine print of the contact. Virtually anyone can buy normal insurance for any number of purposes. In order to buy a surety bond, you must take an extra step. In order for a surety bond to become activated, the construction company must agree to pay back the insurance company for any money the insurer spends on the project. That is to say, if the surety is called to hire a new contractor or they are called in order to resolve a compensation issue, someone must pay that money back.

You don’t want to get caught by surprise in the middle of a project.

If you have questions about insurance policies, such as CGL policies or surety bonds, email me at [email protected] or call me at ( 410) 842-0145 . I’m on your side to help you make informed decisions and understand how you are protected.

Any number of issues can arise that trigger the surety bond:

• A contractor gets fired, quits, or goes out of business.

• A contractor fails to complete a job.

-Jeremy Wyatt

• A contractor refuses to pay people owed.

[email protected]

www.HarrisonLawGroup.com

(410) 832-0000

‘Dare to Lead’ With Brené Brown’s Bestselling Book

within her own business — to walk readers through real-life applications of courage and how to create stronger teams through vulnerability.

How many leaders do you know who will admit to their mistakes openly and honestly to their team? How many leaders have you heard ask their team for direction? How many leaders are willing to step aside so someone else can shine? Chances are if you know that leader — or if you are that leader — then you understand the future of leadership, according to author, researcher, and teacher Brené Brown, Ph.D., author of “Dare to Lead: Brave Work. Tough Conversations. Whole Hearts.” In this book, Brown details her seven years researching and gaining a better understanding of leadership. She interviewed business leaders at both small and large companies, asking questions that revealed what great leadership looks like. Together with her research team, she learned why certain workspaces thrive and grow while others, with seemingly just as powerful of ideas, wither and die. And it all boiled down to one thing, Brown says: courage. In “Dare to Lead,” Brown examines the four pillars of courageous leadership and how business leaders today can practice and perfect it. Brown teaches the four pillars through her consulting work and has seen radical changes in organizations that practice courageous leadership. Brown offers examples — from well-known CEOs and

Brown exposes how business cultures that don’t practice vulnerability are ineffective as a result. She theorizes that often, these workspaces are filled with fear, uncertainty, and scarcity. To remove these negative traits, Brown offers leaders a road map to build their courage while practicing vulnerability and creating happier work environments. Brown has spent the past two decades researching and breaking down emotional concepts into tangible goals for her readers and followers. She is the owner of The Daring Way, a consulting firm that helps businesses develop vulnerability in leadership and the workplace. She is also the host of the podcast “Unlocking Us” and has one of the most-watched videos of all time, “The Power of Vulnerability.” You can learn more about Brown’s work and find “Dare to Lead” at BreneBrown.com.

HAVE A Laugh How a Thanksgiving Dinner Mix-Up Led to the TV Dinner

The year was 1953. That fall, the frozen food company C.A. Swanson & Sons drastically overestimated how many Americans would want a turkey as the centerpiece of their Thanksgiving spread, leaving them with about 260 tons of extra turkey packed into 10 refrigerated railroad cars.

[email protected] | HarrisonLawGroup.com | 3 As the TV rose in prominence in American living rooms, the TV dinner’s popularity increased exponentially. Swanson sold nearly 10 million of them during the first year of production. By 1959, Americans spent half a billion dollars gobbling up TV dinners. Swanson salesman Gerry Thomas had a winning idea. He suggested they package up the remaining turkey with a few sides as frozen dinners that would be ready to eat after being thawed. The twist? They would be served in compartmentalized aluminum trays, much like airplane meals, which were the inspiration for Thomas’ idea. Additionally, they would be marketed as “TV dinners,” with their packaging designed to look like a television set.

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Jeremy Wyatt [email protected] HarrisonLawGroup.com (410) 832-0000

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Inside This Edition

1. 2.

There’s Much to Be Thankful for This Year

Want to Stand Out in a Digital World? Focus Offline

3.

Researcher Brené Brown Helps Leaders Find Their Vulnerability — and Succeed How a Thanksgiving Dinner Mix-Up Led to the TV Dinner

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Filmmakers’ 3 Tips for Video Calls That Don’t Suck

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Level With Me: Know the Difference Between Commercial Insurance and Surety Bonds

Mastering the Video Sales Call With Filmmaker Expertise

a light behind you to softly illuminate your face while creating background light for depth. Good sound quality can be just as simple to achieve. Rather than rely on your computer or laptop’s microphone system, plug in your AirPods or headphones. These items have built-in microphones that better capture your voice due to their proximity to your face. Tip No. 2: Get the camera angle right. Aesthetically speaking, one of the worst angles for a camera is pointed upward at the subject being filmed. However, you’re often looking down at your laptop or monitor’s camera. Instead, stack your laptop on books or risers for meetings, or purchase a separate camera to mount at eye level or just above you. This is a much more flattering and commanding angle.

As we continue to adapt to a half- digital, half-physical world, one thing is certain: This is our new normal. And in the business world, you adapt or you die. While in-person sales meetings and lunches will never be a thing of the past, mastering the video sales call to present yourself, your company, and your product is vital. After all, you want the most memorable part of your call to be the product you’re pitching — not your cluttered background or the tinny sound. To appear like a pro, try these three tips from filmmakers to make your video calls the envy of your competition. Tip No. 1: Use what you have. While moviemakers, vloggers, and podcasters have advanced equipment to make them look and sound great, you can provide a professional video call without blowing your budget. Start with lighting. Shine a lamp toward the wall facing you, and turn on

things. For starters, quickly scan the background behind you. Will your prospective clients see anything unflattering or unduly distracting? A simple background, like a plain wall or a bookshelf, is great for bringing attention to you and not what’s happening in the background. And before you join that meeting, rehearse looking into the camera as you speak, not at the screen itself. That will create eye contact for those in the meeting.

You don’t have to be an Oscar-winning filmmaker to master these techniques.

Tip No. 3: Look again. In the moments leading up to a video call, remember to do two

All it takes is a little practice to upgrade your video sales call.

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