Mike Dragosavich
Josiah Kopp
Paul Hoefer
Paul@SpotlightMediaFargo.com
Sam Winter Sam@SpotlightMediaFargo.com
Al Anderson Al@SpotlightMediaFargo.com
Tori Konrady Tori@SpotlightMediaFargo.com
Dave McSparron
Dave@SpotlightMediaFargo.com
Austin Cuka
AustinCuka@SpotlightMediaFargo.com
Ellen Hannaher-Brenchley
ClientRelations@SpotlightMediaFargo.com
Jenny Johnson
Jessica Ventzke
Missy Roberts
John Stuber
2024 has been a year of unexpected shifts and continued recovery for so many businesses out there. Businesses have found new ways to innovate, adjust, and grow in response to rapidly changing circumstances. Whether it was adapting to new technologies, managing hybrid work environments, or tackling supply chain issues, many of us have been reminded of the importance of resilience, flexibility, and forward thinking.
For some, this stretch toward the end of 2024 represents a chance to push hard to meet or exceed annual goals, close deals, launch new projects, or strengthen client relationships. Others may find themselves turning to introspection, looking for ways to refine operations, bolster their teams, and focus on long-term strategies.
As we wind down the year, it’s essential to not only look back but also stay future-focused. The challenges and successes of 2024 offer lessons that will help shape the decisions and directions of 2025. We’ve learned how to navigate uncertainty, harness opportunities from disruption, and discover new ways to lead our teams and serve our customers.
So as we prepare for the holiday season and gear up for the year-end hustle, let’s also remember to pause and acknowledge the work we've done—both individually and collectively. Let’s celebrate the progress, no matter how small, and recognize the resilience that has kept us moving forward.
Here’s to closing out 2024 on a high note and welcoming 2025 with open arms.
appy October to all! It's hard to believe that another year is coming to a close. In the business world, this season often brings with it a blend of reflection, evaluation, and anticipation. It’s a time when companies take stock of their accomplishments and challenges over the past months while planning and setting priorities for the year ahead.
Sincerely,
Bis-Man INC! Editor
By NorthStar Technology Group
magine this: you’re starting your day with a fresh cup of coffee, all ready to tackle your to-do list, when an email that looks to be from a trusted partner lands in your inbox. It seems legitimate, but hidden inside is a phishing trap set by cybercriminals.
This scenario is becoming all too common for businesses—both big and small.
Phishing scams are evolving and becoming more sophisticated every single day. As a decision-maker, it’s essential that you understand these threats and can debunk common myths to effectively protect your business.
Many people believe phishing scams are easy to identify. They think they can spot them due to poor grammar, suspicious links, or blatant requests for personal information.
However, this is far from the truth. Modern phishing attacks have become highly complicated, which makes them more difficult to detect. Cybercriminals now use advanced techniques like AI to create emails, websites, and messages that closely mimic legitimate communications from trusted sources.
Most phishing attempts today look authentic; they use logos, branding, and language that resemble those of reputable companies or persons. This level of deception means that even well-trained individuals can fall victim to cleverly disguised phishing attempts.
Phishing scams come in various forms, and each form exploits different vulnerabilities. Understanding the most common types can help you better protect your business:
This is the most common type. Cybercriminals send emails that appear to be from legitimate sources, such as banks or
well-known companies. These emails often contain links to fake websites, which they use to steal sensitive information.
This method targets specific individuals or organizations. Attackers gather information about their targets to create personalized and convincing messages, making it particularly dangerous since it can bypass traditional security measures.
This is a type of spear phishing that targets high-profile individuals like CEOs and executives. The goal is to trick these individuals into revealing sensitive information or authorizing financial transactions.
This type is a social engineering attack that involves sending phishing messages via SMS or text. These messages usually contain links to malicious websites or ask recipients to call a phone number, prompting them to provide personal information.
This method involves phone calls from attackers posing as legitimate entities, such as banks or tech support, asking for sensitive information over the phone.
In this type of phishing, attackers
duplicate a legitimate email you’ve previously received and replace links or attachments with malicious ones. This tactic exploits trust, making it hard to differentiate a fake email from genuine communication.
Here, cybercriminals use QR codes to direct victims to malicious websites. These codes often appear on flyers, posters, or email attachments. When scanned, the QR codes take you to a phishing site.
To safeguard your business from phishing scams, follow these practical steps:
• Train employees regularly to recognize the latest phishing attempts and conduct simulated exercises.
• Implement advanced email filtering solutions to detect and block phishing emails.
• Use multi-factor authentication (MFA) on all accounts to add an extra layer of security.
• Keep software and systems up to date with the latest security patches.
• Utilize firewalls, antivirus software, and intrusion detection systems to protect against unauthorized access.
By now, it’s clear that phishing scams are constantly evolving, and staying ahead of these threats requires continuous effort and vigilance.
If you want to learn more about protecting your business from phishing and other cyber threats, get in touch with NorthStar Technology Group.
he Inflation Reduction Act of 2022 was signed into law in August of that year. It includes a section that modifies the Medicare Part D plan by expanding benefits and lowering drug costs with an aim to improve the sustainability of Medicare. These are among the most significant changes to the Part D program ever enacted.
Starting in 2025, the law requires all Medicare prescription drug plans (Part D), including stand-alone plans and Medicare Advantage plans with prescription drug coverage, to offer Part D enrollees an option to pay out-of-pocket prescription drug costs in monthly installments rather than all at once at the time of purchase.
It’s called the Medicare Prescription Payment Plan, and it is intended to especially help people with high cost-sharing earlier in the plan year by spreading expenses over the entire plan year. It’s available to everyone with Part D coverage but may not benefit every enrollee. That’s why it’s recommended that benefits managers work closely with their insurance broker to make sure they’re appropriately maximizing the benefits from the new law.
The payment plan (also referred to as “copay smoothing” or “M3P”) may not be the most effective option for members unless their average monthly Part D costs are greater than $167. (That said, the plan is still an option for all Part D members).
BY TRACY NICHOLSON | CHAD ZIEMENDORF
obody in North Dakota can deny that access to rural healthcare is important. Still, lack of resources, funding, and workforce are putting some cornerstone systems and rural critical access hospitals in trouble, ultimately hurting every business in our small, home-town communities. In fact, the growth and resilience of rural communities are often reliant on access to high-quality healthcare that can help retain long-term residents. As healthcare specialists at JLG Architects, this team doesn’t just design the infrastructure that houses clinics and hospitals, they rebuild the roots for a strong workforce, vibrant community, and supportive businesses that recognize the value of your health and its impact on theirs.
According to a 2022 U.S. Census, North Dakota is home to 776,874 residents, with 307,012 people living in rural areas. For JLG’s specialized Healthcare studio, these numbers equate to roughly 40% of the population relying on rural healthcare resources, with many making the commute to larger cities. If a commute is necessary, JLG is making sure the healthcare destination is a one-stop shop for general and specialized care. Whether getting that care at home or on the road, modern architecture is integrating solutions aimed at saving North Dakotans time and money.
“We are very excited to provide a modernized healthcare setting and fantastic community space to further invest in the future of Turtle Lake’s Main Street. We want everyone to feel welcome at Northland, and this new, more united Center will create the support, services, and connectivity we need to contribute to our community’s health and enrichment.”
—Nadine Boe, CEO - Northland Health Centers
In the spring of 2023, Northland Health Centers broke ground at its new Turtle Lake, ND site. Last summer, JLG and Roers Construction returned to celebrate the official ribbon cutting of the new 12,000-square-foot facility, focused on both community connection and access to modernized healthcare. Here, JLG’s design fused administration offices, a medical clinic, a dental clinic, behavioral health services, and 1,000 square feet of multipurpose space designated for community gatherings. A big driver of this project was ensuring Turtle Lake residents and businesses had the resources to stay put, stay connected, and stay healthy for a resilient future.
In other words, healthcare is no longer entirely focused on health-related services. In many rural towns, hospitals and clinics are the knot that keep their communities tied together.
In spearheading the project, Nadine Boe, Northland’s Turtle Lake Chief Executive Officer, was a firm advocate for the Center’s designation of gathering space to be used by the entire community—serving family celebrations, meetings, youth and senior activities, and health, safety, and wellness events.
At the public ribbon cutting for Heart of America Medical Center (HAMC) in Rugby, ND, attendees weren’t just celebrating a 77,000-square-foot critical access hospital, they were celebrating future-ready healthcare that will be the beating heart of this rural community. Rugby may only have a population of 2,800, but its health system serves over 13,000 people within a 50-mile radius.
With an inclusive design process led by JLG, HAMC brings operational efficiency, expanded healthcare services, state-of-the-art healthcare technology, and community-driven amenities to enrich the patient and provider experience. And just like all more inclusive healthcare design concepts, JLG focused equitable attention on the needs of providers, staff, patients, family, and community.
HAMC provides more of what the region needs without the big city commute, offering a cutting-edge hospital and clinic with an enhanced surgical center and new Chemo Infusion Center. The new HAMC also brings a residential-style swing bed department known as the Living Center, a therapy department, a 24/7 Wellness Center, staff respite areas, a retail pharmacy, and a Main Street, including a “Grab-N-Go” community café. It’s all
HAMC is not just a new, cutting-edge hospital for Rugby, in a sense, it’s also a community center, where people can meet on ‘Main Street,’ grab lunch at the café, or workout. The new Heart of America Medical Center is a really welcoming place that brings the entire community together.”
- Shauntel Fett, JLG Architects
designed for community by community.
As with many smaller health systems, HAMC was built with a groundswell of community support, starting with the board, community leaders, and local bankers and businesses that stepped up to ensure a successful outcome.
They truly understood the long-term impact and how much the community and surrounding communities needed this hospital to sustain growth and meet expanded healthcare needs. With modernized medical services, patient-focused spaces, and community-inspired gathering areas, we believe the heart of Rugby is now the Heart of America Medical Center.”
- Todd Medd,
JLG Architects
Learn More About JLG Architects’ Healthcare Studio & Explore the Rural Healthcare Project Portfolio at jlgarchitects.com
402 E Main Ave, Bismarck, ND 701-255-1617
WE TALKED TO EXPERTS ABOUT WHAT TO DO ABOUT FIRE DAMAGE, FINANCIAL DISASTER, SEXUAL HARASSMENT, AND MORE!
BY BRADY DRAKE
Challenges are inevitable and disasters are likely. Whether you're leading a small startup or managing a large corporation, unforeseen obstacles can arise at any moment. It's not unusual to have the resilience and adaptability of your organization tested. These disruptions, while daunting, also present opportunities to grow stronger and more prepared for the future. It’s not a question of if adversity will strike but when— and how you will respond. In this issue, we explore the critical steps businesses must take to not only recover from setbacks but to emerge with a renewed sense of purpose and stability. From preparedness to implementing strategies that build resilience, we spoke with local experts to help you survive your next business disaster.
If you or someone you know is experiencing suicidal thoughts, mental health struggles, emotional distress, or alcohol or drug use concerns, call or text 988 Lifeline (formally known as the National Suicide Prevention Lifeline). The lifeline is available 24/7/365 and conversations are free and confidential.
Prioritizing employee wellbeing is essential. Mental health challenges, emotional stress, and struggles with substance use can affect anyone, regardless of position or experience. And, chances are, it is or will effect members of your team and impact your business.
We spoke with two individuals from The Village Family Service Center: Gabby Hagen, MS, LPCC, and EAP Clinic Supervisor and Susan Williams, MAEd, Gallup Certified Strenghts Coach and Village Trainer to get insight into how to create a work environment that prioritizes employee well being.
"As the Employee Assistance Program Clinical Supervisor at The Village, I provide counseling services at the Fargo location and support other EAP Counselors. I have a holistic view of health and work to incorporate different aspects of wellness into my counseling. My goal is to create an open and nonjudgmental atmosphere to create a safe space for clients to work on their individual goals. I received my bachelor's degree in Health, Wellness, and Fitness from the University of Wisconsin-Stout. From there, I went on to get my master's degree in Counseling from the University of Mary."
Q: WHAT ARE SOME THINGS EMPLOYERS SHOULD BE DOING TO MAKE SURE THAT THEY'RE SETTING UP AN OFFICE THAT PLACES A HIGH IMPORTANCE ON EMPLOYEE WELL-BEING?
A: Having resources available for employees, such as an Employee Assistance Program (EAP), is important. Another important aspect of this is employees' need to be reminded it's there as well, especially when there are mental health concerns that come up.
I also think training for supervisors on how to support employees when they're struggling is important.
Q: WHAT ARE SOME COMMON MISTAKES YOU SEE EMPLOYERS MAKE WHEN IT COMES TO CREATING AN ENVIRONMENT THAT IS SUPPORTIVE OF EMPLOYEE WELLBEING?
A: Not making employees aware of resources or where employees can find access to them is a mistake I see employers make.
Not having those trainings for supervisors on how to support employees is a mistake. It's not the supervisor's role to be an employee's counselor or provide any sort of therapy, but knowing how to be supportive and knowing how to handle difficult conversations is important.
It's also important to normalize things. We all go through struggles and people need to feel like they're not alone.
Q: HOW SHOULD SOMEONE BE SUPPORTIVE IN THOSE SITUATIONS?
A: I think by just listening in a non judgmental way. I think validating the employee's experience and asking them what they need is important. Asking if there's anything you can do to support them is important. A lot of times, employees, or people in general, aren't looking for someone to fix the issue—they just want to feel understood and heard and know that someone is there and that they have support.
Q: HOW ARE EMPLOYEES IMPACTED WHEN THEY AREN'T IN A GOOD ENVIRONMENT AT WORK? WHAT KIND OF THINGS DO YOU SEE?
A: We definitely see an increase in mental health concerns. A lot of people spend a very significant amount of time at work. Many people spend more time at work and
with their coworkers than they do at home with their families. So, the environment is huge. When there isn't a good environment, we see increases in depression, anxiety, and other mental health disorders. I think we see decreased productivity. When people aren't feeling supported by their employer, I think there can sometimes be resentment. I also think it can cause conflict in the workplace. I think it decreases cohesion within a team and in a workplace. There can also be more absenteeism.
A: I definitely think it's appropriate. We can't push them to tell us anything, but if you are noticing something, it's a good idea to ask, 'How are you doing?' or 'Is everything okay?' It's very possible to check in a gentle way that lets the person know that they don't have to share anything they don't want to, but that you are there and you care.
Q: WHAT ARE WARNING SIGNS EMPLOYERS
A: Any changes in the employee. Their mood might seem a little bit different or maybe they're making more mistakes. Maybe they are having a hard time balancing their workload. Maybe they're more irritable or maybe they're having more conflict with co-workers. I think there can be a lot of signs. I don't know that there are specific warning signs, but I think if you are attuned to your employees, there are a lot of times when you'll just pick up on something being a little off. They may also be very direct and tell you they're having a hard time sleeping, or that they're having issues at home, or whatever it might be.
"Few things are more satisfying to me than providing the opportunity for people to learn new information and gain insight that can change their relationship with themselves, their colleagues, and the larger community. I am a GallupCertified Strengths Coach and am especially passionate about the energy and freedom a person feels when they discover their superpowers and are empowered to lean into them in all aspects of their life."
Q: WHAT PROGRAMS DOES THE VILLAGE OFFER THAT YOU WOULD RECOMMEND FOR AN EMPLOYER TRYING TO ACHIEVE AN ENVIRONMENT THAT SUPPORTS EMPLOYEES' MENTAL WELL BEING?
A: Well, certainly the employee assistance program (EAP) we offer would be very beneficial for employers. With the EAP, the organization pays a membership fee and then the organization gets free training hours to use and the number of training hours varies depending on how big the organization is.
We offer training on 40 different topics, all of which are based on human skills. A large chunk of them focus on mental health and wellness—taking care of yourself, self care, self care for the remote worker, mental health awareness, stress management, conflict resolution, emotional intelligence, communication, effective communication, and anything that
makes us better and makes us better at relationships.
We also provide, with that, the option to help supervisors deal with issues at work. This includes things like personnel not meeting expectations or not knowing how to quite get a person to level up.
But, the biggest benefit for employees is the option to use free and confidential counseling services. So, employees and members of their families get, over the course of the contract year, four sessions per household member. So, if there's a family of 4, they get 16 sessions to use any which way they please.
Included in those EAP visits are services for financial wellness. This can help employees with things like lowering their credit card debt and managing a budget. We also have an EAP service that covers intial legal consultations and then after that, the employee gets a significant discount with that law firm.
EAPs are huge for employees, and it's not just about the actual benefit of what we do for employees, it's also the knowledge that their organization cares about them and is invested in them. It says to employees, 'We're willing to pay for this service because you are valuable to us. We want you to be well. We want you to be balanced. We want you to have resources that you need, and we're willing to pitch in on it because you matter to us.'
Q: OUT OF THOSE ROUGHLY 40 TRAINING TOPICS, ARE THERE A HANDFUL YOU RECOMMEND EMPLOYERS START WITH TO MAKE SURE THEY'RE SETTING UP A GOOD ENVIRONMENT FOR THEIR EMPLOYEES?
A: Our diversity in the workforce training is really important. We need a diverse workforce. We need our
workforce to mirror our culture. When there's more diversity, there are more ideas and we solve problems faster. More diversity means better solutions. More diversity means better awareness and better relationships. Everything is better when we're not all the same—when we have different lenses through which we see things.
But better doesn't come for free. We need to figure out how to respect someone else's religion. People with different values, cultures, opinions, skin color, gender, whatever—are all equally valuable. Oftentimes, people just don't know the rules. People don't always know what's appropriate to say. So, learning what questions you should ask and how to value diversity and how to talk about it is a critical skill for the workforce.
Another training we often get requested is our training for civility in the workplace. I wrote a newsletter article for us once that talked about how I'm both heartened and discouraged that we get this training requested so often. I love to see that people want it and that they see there are issues they need help with—that's awesome. But the fact that people need someone to come into a workplace and say you can't say that to other people, or that it's really rude when you play your music so loud that everyone else can hear it, or that you can't just impose your values on other people, it's a little discouraging that you have to teach them that. These things aren't just common sense anymore. We're not all the same people. We should have diversity. We should have different opinions, and we should be able to listen to our music at work, but our neighbors should also be able to listen to their music at work. They shouldn't be forced to listen to my music—that's a simple example. This is a great training if a business is having trouble getting people to get along with each other.
Some other important ones include mental health awareness, stress management, emotional intelligence—figuring out how to read a room. How to communicate effectively—that's another big one.
For effective communication, it's important to understand things like you can't just say something once and think that someone else is going to get it or putting something in an email and thinking you're done with that. I'm a huge fan of transparent communication and letting people know everything you can let them know. That's important because then people don't fill in the gaps and make assumptions. This is also important for when you give someone a task. When you tell them something like, 'you need to have a task done by Tuesday,' you need to explain to them why because they may have someone else put something on their plate that they say is a priority and they need to be able to make a decision based on that information.
Some other trainings of ours that I think should be front and center are our trainings on burnout, compassion fatigue, self-care, and self-care for the remote worker.
We also do a number of leadership trainings for new leaders. It's
important for new leaders to delegate, build trust, and lead teams. It's important to know what makes an effective team and what the job of a supervisor is. It's important to have effective management performance reviews.
A: Eventually, their employees will go someplace else. Or worse, they'll stay and lose energy, momentum, and productivity.
It used to be that back in the day, you went to work, you did what the man told you, then you came home, and then you checked out of work. You came home to your family, and then you checked out of your family and went to work. As humans, we don't do that anymore. I have two adult daughters, and when I come to work, and am doing my job, I'm still wondering how a test at school went for one of them. When I'm home in my pajamas and watching TV, I might think of an example for a training I have to do the following day and go write it down. So, when an organization doesn't recognize that and doesn't see the whole person, they're only going to get what they
see. If they only see a cog in the wheel, they're going to get a cog in the wheel—but, no one is motivated to be a cog in the wheel. No one is motivated by being a widget that can be replaced. We're motivated by knowing that we're cared about, by doing our best, by being given opportunities to do more, and by being given opportunities to be recognized.
At a minimum, you need to be able to come into work and say to your boss, 'I'm really struggling today. I don't know if you know, but I have a history of depression, and usually, it's under control, but it's really hitting me right now, and I'm just not at my best.' And have a boss say, 'How can I help?' Instead of, 'You're going to have to suck it up because this project has to get done.' The former makes you want to fight through and stay there and get it done, and the ladder makes an employee want to walk out the door.
Q: ARE THERE ANY OUTSIDE RESOURCES OUT THERE THAT YOU WOULD RECOMMEND EMPLOYERS UTILIZE?
A: There are a ton of books out there on self-help, business, and leadership. A lot of them kind of say
Mental health is health. It's not anything different. We have treated it differently and pushed it down below because we don't, culturally, want to talk about feelings. It's awkward to say I have these dark thoughts. People don't want people to worry about them, but people should worry about us. We deserve to be worried about. So, talking about mental health is important. I personally have taken anti-depressant medication for 30 years and I also take Lipitor. If you have a mental health concern that makes you feel bad, and then you don't feel like you can talk about it, you also have a secret that makes you feel worse. Carrying a secret is hard."
-SusanWilliams,MAEd,GallupCertifiedStrengthsCoach,andVillageTrainer
the same thing. Anything by Simon Sinek is spectacular for leadership—especially when it comes to how to treat people and how to be a business that people want to work at.
Brene Brown is great for empathy. We also do an empathy training and I believe empathy is king. That's the thing that makes a difference in people's lives.
Chip and Dan Heath are also great. I really like the book "Decisive" by them. I also really like the book "Switch: How to Change Things When Change is Hard." They're both super easy to read and provide tons of examples that make sense. "Switch" is one of my favorite ones. It's all about how to get people on board with something when it's hard—this is critical for people.
There's also a book called "Crucial Conversations" by Stephen R. Covey. We have to get better at crucial conversations—those conversations where the stakes are high and emotions and opinions differ. When stakes are high, emotions are elevated, and opinions differ, you need have have a conversation—it's crucial and it's crucial that it goes well. That book is excellent and we're developing a course on it. Actually, we're going to add it to our catalog here in the fall. There's a sister book for that called "Crucial Accountability," but I recommend starting with "Crucial Conversations."
CliftonStrenghths, which used to be called StrengthsFinder, is life-changing. When an organization has a team go
through CliftonStrengths, people will never see their colleagues the same again, and they will not do business the same, and everything will improve. Profitability goes up when an organization has a strength based culture. Engagement goes up. Performance goes up. Productivity goes up. People's want to be at work goes up. Everything improves when I know what I'm naturally good at and I know what my coworkers are naturally good at as well. We can take advantage of what makes us tick.
Q: IS THERE ANYTHING ELSE YOU WANT TO MAKE SURE YOU SAY TO OUR READERS?
A: Mental health is health— mental health and physical health all wrap together. We have to get past this thing with it where we think it's something we shouldn't talk about. We should absolutely talk about it because keeping it a secret is heavy and it's hard. It's taxing, it's exhausting, and it doesn't help. You can keep the secret, but how does that help you? It doesn't help you. We have to be okay talking about it. We have to be okay not knowing all of the answers.
THE VILLAGE FAMILY SERVICE CENTER
thevillagefamily.org /thevillagefamily @thevillagefsc @VillageFamily
In this Q&A with Human Resources Director at PRO Resources Megan Johnson, SHRM-CP, we explore what constitutes sexual harassment, how businesses should handle reported incidents, and the importance of having clear policies in place.
A: Sexual harassment refers to unwelcome behavior of a sexual nature that can occur in various settings. It involves inappropriate or unwanted advances, requests for sexual favors, comments, or other verbal or physical conduct that creates an intimidating or offensive atmosphere. There are many forms of sexual harassment including verbal, non-verbal, physical and quid pro quo.
The behavior is often of a sexual nature, creating a hostile work environment and has a negative impact on the victim’s well-being, including emotional distress, anxiety or fear of retaliation.
It is often perceived that sexual harassment only happens between a male and female. This is often not true. There are various scenarios that I have encountered. The situation can involve a supervisor, a supervisor in another area, a co-worker, or someone who is not an employee of the employer, such as a client or customer.
If you are questioning an action or comment, don’t do it or say it.
A: First, I recommend establishing a clear policy that outlines the company’s commitment to providing a work environment that is safe and respectful for everyone. The policy should include what constitutes a respectful workplace, contain examples of unacceptable behavior, and the procedure for reporting. Employees need to know how essential it is that they notify their supervisor or Human Resources Department. We cannot help resolve an issue of any kind unless we know about it. All complaints and reports are taken seriously, and no employee should be penalized or retaliated against for reporting a problem in good faith.
It is also recommended to conduct annual training for all employees, including management on recognizing, preventing, and reporting sexual harassment and encouraging a respectful workplace. Managers and supervisors are held accountable for maintaining a harassment free workplace and should be trained how to handle complaints. All employees, including leadership, should model respectful behavior. When management and leadership prioritize respect, it sets a tone for the entire organization.
A: After a thorough investigation, if the behavior is determined to have violated a policy, appropriate disciplinary action will be necessary including but not limited to warnings, suspension, and potentially termination. I would recommend continuing to monitor the workplace to ensure the issue has been fully resolved and all employees feel safe
in their workspace. Creating and fostering a culture that promotes respect and inclusivity takes ongoing effort, but the positive impact on teamwork and productivity is well worth it. When employees are encouraged to engage in open communication, they feel comfortable reporting inappropriate behaviors.
A: Once a reporting process has been established and a complaint has been filed, a thorough and impartial investigation should take place by someone trained in investigations. While the investigation is taking place, it may be necessary to separate the parties involved for several reasons including unbiased gathering of data, confidentiality, safety and wellbeing of both parties, and encouraging participation. It’s important to get as many details as possible, which might include getting statements from witnesses. Document, document, document! Keeping detailed notes will help the company track patterns and remain consistent in their processes.
38% of women have experienced sexual harassment at work (WorldMetrics)
72% of victims choose not to report the incidents due to fear of retaliation or a belief that their complaints won't be taken seriously (Law Office of Frank S. Clowney III) CONTINUED
The Company is committed to providing a work environment that is free of unlawful harassment, discrimination, and retaliation. Further to this commitment, we strictly prohibit all forms of unlawful discrimination and harassment, which includes discrimination and harassment on the basis of race, religion, color, sex (including childbirth, breast feeding, and related medical conditions), sexual orientation, transgender status, national origin, citizenship status, uniform service member status, pregnancy, age, genetic information, disability, or any other category protected by applicable state or federal law.
This policy against unlawful harassment, discrimination, and retaliation applies to all employees of the Company, including supervisors and managers. It also app lies to all customers, vendors, and independent contractors, as well as to unpaid interns and volunteers (all of whom are designated for purposes of this policy only as “Business Associates”). We prohibit managers, supervisors and employees from harassing subordinates or co-workers as well as the Company’s Business Associates. Any such harassment will subject an employee to disciplinary action, up to and including immediate termination. In addition, we prohibit Business Associates from harassing our employees, unpaid interns and volunteers.
Sexual harassment includes a broad spectrum of conduct, including harassment based on sex, gender, gender transition, gender identity or expression, or sexual orientation. By way of illustration only, and not limitation, some examples of unlawful and unacceptable behavior include:
Unwanted sexual advances;
Offering an employment benefit (such as a raise or promotion) in exchange for sexual favors, or threatening an adverse action (such as termination, demotion, or disciplinary action) for an employee’s failure to engage in sexual activity;
Visual conduct, such as leering, making sexual gestures, displaying sexually suggestive objects or images;
Verbal sexual advances, propositions, requests or comments;
Electronically sending or posting sexually-related text-messages, videos or images;
Verbal abuse of a sexual nature, graphic verbal commentaries about an individual’s appearance, sexually degrading words used to describe an individual, or suggestive or
obscene letters, notes or invitations
Physical conduct, such as touching, kissing, groping, assault, impeding or blocking movement;
Physical or verbal abuse concerning an individual’s gender identity; and
Verbal abuse concerning a person’s characteristics such as pitch of voice, facial hair or the size or shape of a person’s body, including remarks that a male is too feminine, or a female is too masculine.
Substance abuse in the workplace is a pressing issue that affects businesses across industries. The economic and social impacts are significant, with drug and alcohol use contributing to decreased productivity, absenteeism, and safety concerns.
Human Resources Director at PRO Resources Megan Johnson, SHRMCP sat down with us to give more insight into how to handle this common issue employees face.
Q: HOW OFTEN DO YOU RUN INTO ISSUES WITH DRINKING AND SUBSTANCE ABUSE IN THE OFFICE? IS IT COMMON?
A: I think it’s becoming more common. During COVID, it was popular to have a virtual happy hour. When employees started returning to the office, we saw employers continue with that practice in the workplace. Post-COVID, many workplaces are navigating the complexities of drinking and substance abuse more openly. The pandemic has changed how we view work-life balance, mental health, and coping mechanisms, leading some to turn to alcohol or substances for stress relief. Social drinking in the office may have decreased, but some employees might still engage in drinking during virtual meetings or after hours, which can impact workplace culture.
Q: ARE THERE ANY WARNING SIGNS THAT EMPLOYERS SHOULD BE AWARE OF?
A: There are many signs that employers can watch for that could include an increase in absenteeism, decrease in productivity or quality of work, or changes in behavior. Some employees will suddenly become defensive when approached with issues to their performance or you notice an unexplained increase in workplace incidents. Carelessness in following safety protocols puts everyone in danger. It is important to follow your organization's policies on reasonable suspicion and involve someone in Human Resources to assist you.
A: When employees work performance is impacted, you need to make a move to get things back on track. It’s important to address the situation and set expectations to ensure that it maintains its intended purpose, focusing on work performance. If you feel you need clear guidelines, create a policy to establish the number of drinks per person, ensure behaviors remain professional and respectful, and a reminder that all work policies still apply. Again, I cannot stress enough the importance of involving your
Human Resources department for their assistance.
A: If I suspected or it was reported that someone could be under the influence at work, ensure your investigation follows your company’s substance abuse policy and follow established reasonable suspicion checklist and established protocols. Your Human Resources department should be notified. Ask the witness what behaviors they have observed or what was the unusual behavior they are questioning. Observe the employee and record any behaviors or physical signs, like bloodshot eyes, slurred speech, that might indicate drug or alcohol use. Interview the employee in a respectful and calm manner without making any accusations. This gives the employee an opportunity to explain any behavior that may have been misinterpreted or share if they have a personal or medical issue unrelated to substance abuse. If your policy allows for reasonable suspicion testing, determine if the situation is warranted of testing, ensuring that the employee fully understands the process and outcome of a positive test result.
Cybersecurity threats are on the rise and one misstep could cost you your business. We spoke with NorthStar Technology Group's President and Owner Ken Satkunam and Chief Security Officer Dan DeFay to learn about how to prevent and recover from cybersecurity disaster.
Q: WHAT DO YOU THINK ARE THE MOST COMMON CYBERSECURITY THREATS BUSINESSES ARE FACING THESE DAYS?
Dan: It used to be ransomware, but more and more we're seeing what they call business email compromise. That's where, basically, the attacker gets them to click on something, and then they have some kind of mechanism, which allows them to take over that email account. Then, once they're in there, they'll try to spread the attack to other companies or other contacts connected with that email. And, even if a company has multi factor authentication turned on their accounts, we're still seeing that they figured out a way to bypass that.
Q: WHAT ELSE COULD YOU DO OTHER THAN TWO FACTOR AUTHENTICATION TO MAKE SURE THAT YOU'RE NOT EXPOSING YOURSELF?
Ken: Multifactor authentication is something that people can do now and it still helps. It's another hurdle that might cause a hacker to go elsewhere—somewhere easier.
Beyond that, it's really about awareness and being able to recognize those sorts of things. You don't need to have a complicated security awareness training program, but I think just generally being educated and able to recognize messages that seem to be off or fraudulent is important and I think people are getting better at that. Years ago, people would click on anything and everything.
Q: I'VE DONE INTERVIEWS SIMILAR TO THIS AND I'VE HEARD THAT ONCE A HACKER IS IN YOUR SYSTEM, THEY CAN SPEND A VERY LONG TIME IN THE SYSTEM BEFORE THEY DO ANYTHING OR BEFORE YOU BECOME AWARE. WHAT ARE SOME RED FLAGS THAT BUSINESS OWNERS SHOULD LOOK FOR THAT WOULD INDICATE THERE HAS BEEN A SECURITY BREACH?
Ken: What you're talking about is dwell time, which is the time between when a breach occurs and when it's noticed that it occurred. Most often, it's the savvy of the attacker that makes this very, very difficult to detect. 99% of the time, you'r not going to catch the attacker during this period. Attackers wait because they want to do everything they can to cause the most damage. So, they may be in there spending time trying to figure out what you're using for backups. And then, before they deploy the ransomware, they'll go in and delete those backups. Ulitmately, a preventative strategy and a good recovery strategy are your best bets.
When the event occurs, you will usually notice your systems will start acting weird. The files might get encrypted from ransomware or all of your colleagues in your contact list will be getting weird emails from you.
The two terms you'll hear a lot in the cyberworld are compromise and
66% of organizations reported ransomware attacks in 2023 (Cisco Talos Blog)
Around 80% of businesses affected by BEC attacks did not have multi-factor authentication (MFA) in place (Cobalt: Offensive Security Services)
Global financial losses from business email compromise scams exceed $1.8 billion annually (Deloitte United States) CONTINUED
breach. Compromise is when the attacker actually gets a foothold in your system, and then they'll stay in there trying to figure out the best thing they can do to maximize the impact. Then, when they actually take action, that's the breach.
There aren't really any tools a company can use on their own that's going to tell them if someone has taken over their computer. The only way you might know is if your computer starts running slower because they installed some sort of malware that's eating up memory.
After a breach happens, a forensic firm will go in and utilize complicated, expensive software to look for what we call "all indicators of compromise." It's a software that goes in and looks at all your files and your memory and your data—it looks for indicators of compromise and pieces things together from there.
Ken: Even if we've done all the preventative things we can, something can still happen. There's no way you can guarantee complete risk reduction. So, you want to make sure you have good cyber liability insurance coverage. You want to make sure you have good backups prior to the event. You want to make sure you have a strong incident response plans and that's what you're going to turn to if something happens.
Contacting your cyber liability insurance carrier is probably step one. They're going to have their own forensics team that can go in and take a look to see what happened. They're going to have their own lawyers who can counsel you on if you need to report the incident. They
can also let you know if you need to let customers know. They'll have guidance on talking points for the press. They'll be able to kind of guide you through through that process.
And obviously, you want to make sure you don't tarnish evidence. A lot of people, the first thing they'll do is they'll shut stuff down, or they'll disconnect stuff. And I understand that reaction—you think you're going to prevent it from spreading everywhere. But instead of doing that, you essentially tarnish the evidence. It's like coming onto a crime scene and touching everything. You want to be able to leave that alone for the forensics people—that is challenging for a lot of people because they want to get back up and running as fast as possible, and forensics can take a long time.
If you don't have insurance, you're going to want to contact someone who can come in and help with the recovery process. That's going to be either through forensics to identify what happened, or, at the very, very minimum, someone who can get you back up and running. You're going to have to restore from backup and go through that whole process and make sure your systems are clean.
The challenge with that is knowing how far back to restore data from. Because of that dwell time, restoring a day back might restore bad stuff. Restoring from a week back might restore bad stuff. Restoring from a month back might restore bad stuff. You need that forensics process to help you identify when you want to restore from.
Dan: Things are getting to the point these days where trying to do this on your own can be very high risk. Because, if you don't have tools to prevent this, they can get in and steal some of your data. Think about how
drastic that would be for a CPA or law firm.
Ken: More and more people are recognizing the value of cyber liability insurance. However, the problem now is insurance carriers are requiring businesses to accomplish certain things regarding cyber security controls in order to even get coverage. Before COVID, I never actually talked to an insurance broker or carrier unless it was our own. During COVID, we ended up working with a customer who was filing an application for this every single month. The insurance providers were telling them that they couldn't get coverage unless they followed steps A, B, C, D, E, F, G, and those items could sometimes be complicated.
Ken: I think working with a carrier or a broker that manages your particular business industry is important. So, if you're in healthcare, there are certain insurance carriers that work well with healthcare. If you are in manufacturing, there are certain carriers that work with manufacturing. But the big thing, of course, is to work with a reputable broker. A good broker will be able to know, your industry and know what you need for coverage limits.
There are a lot of brokers who have no idea about cyber insurance. They're used to covering boats and cars. We've met a few that are good and you can totally tell the difference.
It's also really important to have internal IT or to partner with an IT company. You want to reduce risk in as many areas as possible.
I think most people who haven't been
through a breach don't really understand the magnitude of stress that it causes. Typically revenue starts to just plummet and expenses skyrocket because you're bringing in forensics and you're bringing in lawyers. It never happens at an ideal time.
Dan: Having a robust backup system is super important. In our industry, there are so many different flavors of that, but having a good backup and understanding what your recovery goals are is important.
With a backup system, there are two points that we really need to understand and that's the recovery objective and recovery time. Once I know those things, I can figure out how often I want to backup. Do I backup every day? Every week? Every month? I need to figure out how much data loss is okay. I also need to figure out how long I can withstand a backup taking. Can I wait five minutes? Can I wait one hour? Can I wait one day?
The problem is that backing up too frequently is expensive. There's always a trade off with this stuff. Imagine how much disk storage, for example, I would need to back up all of my data every minute. It's just not realistic. So, you can architect things to make it pretty bulletproof, but there's going to be a cost consequence for that.
Ken: The biggest thing is preparation. Don't wait until something bad happens. Build an incident response plan before something happens. That incident response plan should include your most important digital assets and how to we make sure those are backed up and how to recover them. It should include who to talk to in the event that something bad happens. You should also have cyber insurance. And that cyber insurance is going to have a checklist of what needs to be in place for coverage, and we're happy to take a look at that for anybody that needs help with that. We also really recommend that people get a cybersecurity risk assessment, which is a process where you identify all of your digital assets and review them to see if there are any vulnerabilities in those assets and then talk through the best strategy to protect those.
NORTHSTAR TECHNOLOGY GROUP
northstartechnologygroup.com /NorthStarTG @northstartechno /company/northstartechnology-group/
There are a number of disasters people hope to never face and your business catching fire is up near the top of that list. As much as we don't want to ever have to face this disaster, business fires do happen.
So what should you do if your company does experience a fire? We asked Kramer Agency Insurance Agent Michael Thomas that very question.
Q: WHAT ARE THE IMMEDIATE ACTIONS A BUSINESS OWNER SHOULD TAKE IF THEIR BUSINESS EXPERIENCES FIRE DAMAGE?
A: Call to set up a property claim with your insurance company—this is important to do right away. When setting up that claim, most of the time, you are just going to need to have the address of the property handy. The fire station is going to have a report on all fire claims, and they're going to send out a Fire Marshal to do a fire report. The only other thing I would say is to give your insurance agent some extra information on the extent of the damage if you can—let them know if it's smoke damage or a total loss, things like that.
From there, you can give a local fire restoration company a call.
You can endorse your property limit at any time. So, with most of my clients I review with them yearly. We just review the property limit and make sure everything looks right.
We use tools like replacement cost tool software. We kind of have a good idea of what it costs per square foot to rebuild for different types of construction, like if it's metal or frame construction, stuff like that.
Q: CAN YOU EXPLAIN THE KEY ELEMENTS OF A TYPICAL BUSINESS INSURANCE POLICY THAT COVERS FIRE DAMAGE?
A: Property coverage will cover the cost to fix the fire and smoke damage. Loss of income coverage with extra expenses is also very important.
A lot of people don't understand business income and extra expense coverage. Most businesses fail because they don't have that coverage or they don't have the proper limit for that coverage. If there was a fire at a restaurant, and they're going to rebuild, that's great, but if you don't have income coverage, you won't have any income for that year or two that it takes to rebuild. Extra expense coverage will help to make sure that you don't lose your talent because it'll pay your employees' salaries even though they're not working. And, in certain scenarios, it can also pay for a temporary place to work.
Q: WHAT SHOULD BUSINESS OWNERS LOOK FOR IN THEIR POLICY TO ENSURE THEY ARE ADEQUATELY COVERED FOR FIRE DAMAGE?
A: The Property limit is very important, especially now with the rising cost of construction.
Q: WHAT TYPES OF DOCUMENTATION ARE ESSENTIAL FOR FILING A FIRE DAMAGE CLAIM?
A: The company is going to request a list of all business property that was damaged.
I always tell my clients that pictures are worth a thousand words and they're worth way more money than that because all an adjuster needs is pictures of a business to figure out what everything's worth. If you have pictures, everything is much easier.
I suggest that people go through every room, and take a snapshot. Open up drawers and take snapshots. If you have stuff in closets, open the closet and take a picture of the stuff inside the closet. For a typical business, a couple dozen pictures is all that's needed.
Most businesses will have an inventory sheet as well. For both the inventory sheet and the photos, they should have copies uploaded offsite in the cloud.
Fire and explosions rank as the largest single cause of corporate insurance losses, making up 21% of insurance claims in recent years (Allianz Commercial).
In 2022, non-residential structure fires in the U.S. caused an estimated $4 billion in direct property damage, involving around 140,000 reported fires (NFPA)
Q: ARE THERE ANY COMMON MISTAKES YOU SEE BUSINESSES MAKE IN THESE SORTS OF SITUATIONS?
A: The biggest mistake, especially in smaller claims, is people thinking that they can do the work or that they can have a normal contractor come in to do the work. You really want a fire and water restoration contractor—not getting the right contractor is a big mistake.
The second biggest mistake is not setting the policy up to your needs. Instead, sometimes, people will just go with an insurance agent because they have the cheapest price. They get an insurance policy because it's what the bank requires them to have. These are completely the wrong things to do. The bank requires you to have just enough insurance to cover the building. They don't require you to have any of the business income coverage or any of the extra expense coverage that you really need. So, what people really need to do is go to an insurance agent that specializes in commercial insurance.
Then, of course, it's a bad deal in a total loss when you don't have proper documentation like photos and inventory lists.
Q: HOW LONG DOES THE PROCESS TAKE WORKING WITH AN INSURANCE COMPANY?
A: The process can take only a few weeks to years depending on how bad the fire was. It is important to work with the adjuster to make the process go smoothly.
Q: WHAT IS THE ROLE OF AN INSURANCE ADJUSTER IN THE FIRE DAMAGE CLAIM PROCESS?
A: The adjuster will help answer any questions or concerns pertaining to coverage.
Q: WHAT OPTIONS ARE AVAILABLE FOR BUSINESSES THAT NEED TO TEMPORARILY RELOCATE DUE TO FIRE DAMAGE?
A: They will need to make sure they have business income with extra expense coverage and talk to their agent about a proper limit for their business.
Q: HOW OFTEN SHOULD BUSINESS OWNERS REVIEW AND UPDATE THEIR INSURANCE POLICIES TO ENSURE ADEQUATE COVERAGE?
A: I would suggest you review your policy yearly.
You can endorse your property limit at any time. But I like to review the policy with most of my clients yearly. We review the property limit and make sure that it sounds right. We use tools like replacement cost tool software. We have a pretty good idea of what it costs per square footage of the building for different types of construction—like metal or frame construction.
But it's really important to make sure you have enough coverage, especially with what's going on in the marketplace.
Q: WHAT CHANGES IN A BUSINESS COULD NECESSITATE AN UPDATE OR ADJUSTMENT TO THEIR FIRE DAMAGE COVERAGE?
A: Any changes to the building, a move, a purchase of additional equipment, or any building updates.
Q: WHAT SHOULD PEOPLE LOOK FOR IN AN INSURANCE AGENT?
A: I would ask an insurance agent if they insure a lot of businesses. I would ask them if they insured any of my competitors. I would look for someone who knows how to write for the specific business that I'm in. I would want to know what their expertise is.
Q: IS THERE ANYTHING ELSE YOU WANT TO SAY TO OUR READERS?
A: Right now, the insurance industry is a hard market. There are increasing rates and coverage cuts. They're making big changes on policies, and it's the insurance company's right to make a change. They can do it every policy period— usually, this is once per year. So, just because you took a policy out three years ago, doesn't mean that that policy is the same today as it was three years ago—it could be drastically different. It's also very important to have an agent that educates you about changes that are being made to your policy.
KRAMER AGENCY krameragency.com /KramerAgencyND
WITH KENNETH M KRUMM CPA, CFF, CGMA, CRFAC
As the owner of the full-service CPA and consulting firm Krum & Associates, which was founded on September 1, 1983, Kenneth M Krumm CPA, CFF, CGMA, CRFAC knows finances.
Of course, you never want to face a financial disaster, but what if you do? We asked Krumm that very question.
Q: WHAT ARE SOME COMMON FINANCIAL DISASTERS THAT BUSINESSES TYPICALLY FACE?
A: This question is quite complex, as many people perceive cash flow shortages as the primary financial disaster. However, cash flow issues are often just symptoms of deeper problems. Typical financial disasters can stem from unexpected expenses, sudden loss of key clients or employees, undercapitalization, or economic downturns. These factors can create significant operational disruptions that a business must navigate. Understanding the root causes is essential for effective resolution and recovery.
HOW
A: Determining whether a business is in trouble requires careful attention to several key warning signs. Primary indicators include consistent negative cash flow, escalating debts, and an inability to meet payroll obligations. Additionally, businesses should monitor for declining sales, increased days sales outstanding (DSO), and rising operating expenses. A sudden drop in customer engagement or a backlog of unpaid invoices can signal financial distress. By
regularly assessing these red flags, management can proactively address underlying issues before they escalate into serious problems.
A: The first step in addressing a financial crisis is conducting a comprehensive economic assessment to gauge the extent of the problem. This involves analyzing cash flow statements, reviewing outstanding debts, and identifying immediate financial pressures. Once the evaluation is complete, it's essential to manage cash flow meticulously, prioritizing expenditures and exploring cost-cutting measures. Transparent communication with stakeholders—employees, investors, and suppliers—is critical to trust and collaboration. Additionally, developing a robust crisis management plan that outlines specific actions and timelines will help stabilize operations and provide a clear roadmap for recovery. Engaging your team in these efforts can also foster a sense of ownership and collective responsibility, enhancing resilience as the business navigates through the crisis.
A: Having an emergency financial plan is vital for any business. It equips organizations to respond swiftly and effectively when crisis arises, minimizing potential fallout and avoiding costly delays. A well-structured plan outlines immediate actions and clarifies roles and responsibilities, ensuring
everyone knows what to do in a crisis. It serves as a roadmap during uncertain times, providing clarity and direction. Furthermore, a comprehensive plan should include strategies for maintaining cash flow, accessing emergency funding, and communicating with stakeholders. By proactively preparing for financial emergencies, businesses can enhance their resilience and improve their chances of a swift recovery, ultimately safeguarding their longterm stability.
A: A robust emergency financial plan is crucial for navigating crisis effectively. It should encompass detailed cash flow projections to anticipate potential shortfalls, along with strategies for cost reduction to help maintain liquidity during tough times. Access to emergency funds, whether through lines of credit, reserves, or grants, is essential to ensure the business can meet its immediate financial obligations.
Additionally, the plan should outline clear communication protocols to keep all stakeholders informed—this includes employees, investors, and suppliers—ensuring transparency and trust during challenging periods. Assigning specific roles and responsibilities within the team for crisis management can further streamline responses and enhance coordination. This approach improves efficiency and empowers team members to take ownership of their tasks, fostering a proactive and united effort to overcome financial challenges. Overall, a well-prepared emergency financial plan lays the groundwork for resilience and agility in the face of adversity. CONTINUED
A: Key metrics vary significantly depending on the industry, but specific foundational indicators are universally important. Commonly monitored metrics include cash flow statements, which reveal the inflow and outflow of cash, and accounts receivable aging, which tracks outstanding invoices and helps assess collection efficiency. Profit margins—gross and net—offer insights into overall profitability and operational efficiency.
Additionally, it's crucial to monitor liquidity ratios, such as the current and quick ratios, which indicate a company's ability to meet shortterm obligations. Tracking revenue trends over time can also highlight growth patterns or potential downturns, providing valuable context for financial health.
In more specialized industries, additional metrics may be relevant, such as inventory turnover for retail or utilization rates for servicebased businesses. By regularly analyzing these key metrics, management can understand their company's financial position and make informed decisions to drive sustainable growth and stability.
A: When prioritizing financial obligations, payroll should always take precedence. Timely payment to employees is crucial for retaining top talent and fostering a positive workplace environment, directly impacting productivity
Around 23% of small business owners report that lack of capital or cash flow is their number one challenge (The Zebra)
and morale. Once payroll is secured, the next focus should be on critical suppliers essential to maintaining operations; ensuring their timely payment helps sustain relationships and avoids disruptions in the supply chain.
Following this, attention should turn to fixed costs such as rent and utilities, which are necessary for keeping the business operational. Other expenses can be evaluated afterward, allowing for a structured approach to financial management. By adhering to this prioritization strategy, companies can stabilize their operations, maintain trust with employees and suppliers, and position themselves for long-term resilience in challenging economic conditions.
70% of small businesses hold less than four months' worth of cash reserves (PYMNTS.com)
Q: CAN YOU PROVIDE EXAMPLES OF STRATEGIES THAT HAVE BEEN EFFECTIVE IN HELPING BUSINESSES RECOVER FROM FINANCIAL DISASTERS?
A: Successful recovery strategies begin with maintaining clarity and composure and avoiding decisions driven by panic or fear. A measured approach is essential. Critical strategies for recovery include:
45% of U.S. small business owners have forgone their paychecks to address cash flow shortages (The Zebra)
A study found that 82% of businesses fail due to poor cash flow management or a lack of understanding of cash flow (Preferred CFO)
Renegotiating Payment Terms: Engaging creditors to discuss more favorable payment terms can alleviate immediate financial pressure and provide the necessary breathing room for recovery.
Diversifying Revenue Streams: Expanding into new markets or introducing additional products and services can help mitigate risk and create new income sources, reducing reliance on a single revenue stream.
Cutting Unnecessary Costs:
Conducting a thorough review of expenses to identify and eliminate non-essential costs can significantly improve cash flow and overall financial health.
Leveraging Technology:
Implementing technology solutions can enhance operational efficiency, streamline processes, and reduce costs. For instance, automating routine tasks can free up resources for more strategic initiatives.
By systematically implementing these strategies, businesses can navigate through challenging times and position themselves for a stronger and more resilient comeback. The key is approaching recovery with a strategic mindset, allowing for informed decisionmaking that lays the groundwork for future success.
A: Transparent and timely communication is essential during challenging times. Providing regular updates about the situation and the measures being implemented to address it helps foster trust among all stakeholders. By tailoring messages for employees, investors, and customers, businesses can ensure that everyone remains informed and aligned, which is crucial for maintaining morale and support.
While challenges are inevitable, they do not define the organization. Instead, the response to these obstacles reveals a company's
character and resilience. By demonstrating commitment, adaptability, and a proactive approach, businesses can navigate through difficulties, strengthen relationships, and build a foundation for future success. Effective communication during tough times is not just about sharing information; it's about inspiring confidence and showcasing a shared commitment to overcoming adversity together.
A: Transparency is a cornerstone of building trust in any business relationship. Each transaction relies on a mutual understanding and confidence among all parties involved. When businesses openly share their challenges and recovery efforts, they demonstrate accountability, which fosters more profound relationships with stakeholders during difficult times.
This open communication reassures stakeholders—whether employees, customers, or investors—that the organization is taking proactive steps to address issues and encourages collaboration and support. By involving stakeholders in the process and keeping them informed, businesses can cultivate a sense of partnership that enhances loyalty and engagement. Ultimately, transparency helps navigate through crises more effectively and lays the groundwork for a resilient and trusted organization moving forward.
A: Businesses often pursue financial assistance with the assumption that cash flow issues are the root of their problems. However, these issues are frequently symptoms of more profound, complex challenges. Failing to recognize this distinction can result in a slow, inevitable decline rather than a proactive resolution.
Once management identifies the underlying causes of cash flow shortages—such as operational inefficiencies, declining sales, or rising costs—they can explore various financial options. These may include government grants, loans, and lines of credit, which can provide immediate relief. Additionally, debt restructuring can help renegotiate terms with creditors, while crowdfunding offers an innovative way to raise capital from a broader audience.
It is crucial to evaluate each option thoughtfully, considering how it aligns with the overall strategy for addressing the root causes of cash flow issues. This comprehensive approach ensures that the solutions implemented provide short-term relief and contribute to long-term stability and growth. Businesses can create a more sustainable path to recovery and success by focusing on the underlying issues.
A: Negotiations should always strive for a win-win outcome,
emphasizing collaboration rather than shifting your challenges onto the other party. This approach fosters goodwill and paves the way for mutually beneficial solutions. Effective negotiation starts with thorough preparation; gathering comprehensive financial documentation and understanding your position are critical steps.
Before entering negotiations, it's essential to clearly articulate your needs and constraints while also anticipating the other party's concerns. Maintaining open lines of communication throughout the process is vital, as it builds trust and facilitates more productive discussions. Presenting realistic payment plans considering both parties' needs can lead to more favorable outcomes for creditors.
Ultimately, a thoughtful and strategic approach to negotiation helps resolve immediate financial challenges and strengthens relationships, laying the groundwork for future collaborations and support. Businesses can navigate negotiations more effectively and achieve lasting agreements by prioritizing transparency and empathy.
Q: ONCE A COMPANY IS ON THE PATH TO RECOVERY, WHAT STEPS SHOULD IT TAKE TO PREVENT FUTURE FINANCIAL DISASTERS?
A: To prevent future crises, businesses should establish a comprehensive approach that
includes conducting regular financial reviews, staying attuned to industry metrics, maintaining adequate cash reserves, and implementing robust budgeting practices. These proactive measures create a solid foundation for economic health and resilience.
Staying informed about market trends is equally essential, enabling businesses to adapt to changing conditions and seize new opportunities. Developing a proactive risk management strategy can further safeguard against potential disruptions by identifying vulnerabilities and creating contingency plans.
An often-overlooked strategy is closely monitoring competitors. Regardless of personal biases, valuable lessons can be learned from their strengths and weaknesses. Instead of reinventing the wheel, businesses can leverage successful practices from competitors, refining them to suit their unique context better while avoiding pitfalls that others have encountered.
By combining these strategies— financial diligence, market awareness, risk management, and competitive analysis— businesses can enhance their agility and preparedness, ensuring they are well-equipped to navigate any challenges that may arise in the future.
KRUMM & ASSOCIATES
krummcpa.com Search "Krumm & Associates" 701-222-8256
Step into the fascinating world of Pavewise, an upand-coming asphalt software startup that's on the path to success! In this monthly feature, we'll be right there alongside Pavewise, cheering them on as they grow and face various challenges.
From their victories to the obstacles they encounter, we'll witness it all. Get ready to be inspired by their journey as they strive to make a difference in the asphalt industry.
Join us as we hear from the Pavewise team and how they navigate their way to the top!
Brittany Wuori COO/co-founder
Bryce Wuori CEO/co-founder
Pavewise offers powerful solutions designed to optimize construction operations through its two key products: PavewisePro and GroundTruth
PavewisePro is a web-based software that maximizes productivity and improves project quality, resulting in increased incentives and profits for paving contractors. By efficiently managing variables such as weather, project specifications, and equipment operations, PavewisePro integrates paving solutions to develop a strategy for success on every project.
GroundTruth is the first ever construction grade weather technology built to automate project compliance, collect and journal nearly 100% accurate conditions, and mitigate the risks of weather on any construction project with certified, on site data. In 2024, Pavewise has successfully assisted in managing over $1 billion dollars in construction projects across multiple states with the use of PavewisePro and GroundTruth software.
• Always looking for connections with state DOTs and Infrastructure Agencies.
• Looking to connect with any paving, concrete, dirt contractors or asphalt professionals.
• We are looking for a Marketing Intern to assist with Social Media and other Marketing tasks. If you have a referral or recommendation, please contact Brittany at brittany.wuori@pavewisepro.com
• We’ve landed our biggest client yet, Texas Materials, and cannot wait to begin this exciting partnership. We have deployed systems and have started collecting data for their Austin, Houston, and San Antonio locations. More to come!
• Bryce was a key speaker at the BuiltWorlds Analyst Call where he discussed the impact of technology on the future of infrastructure and construction.
• Pavewise interviewed with Creative Destruction Lab (CDL) to go over how our technology fits in with the insurance industry. Joining the CDL-Wisconsin Risk program offers Pavewise expert mentorship, networking, and investment opportunities, while aligning with its focus on reducing construction risk through data-driven solutions like GroundTruth.
• We received our official patent for one of our systems and filed a new patent for our gauge plus integration.
• Bryce embarked on a significant tour, covering 4,200 miles (12 states) on his way to Texas and back, building relationships with over 20 clients/partners and deploying multiple units for new customers.
• TechND awarded Pavewise their prestigious Premier Tech Business award for outstanding advancements in the North Dakota tech sector.
• Bryce has meetings scheduled with contractors across several regions in September, including projects in Florida, Georgia, South Carolina, and North Carolina. One of the projects is a large-scale development in the Tampa area.
• Bryce was invited to join the FLDOT Innovation and Automation Committee with GroundTruth to assist in creating a plan for automating their statewide rainfall and weather tracking process.
• We are currently in discussions with a handful of Construction Insurance Providers interested in performing pilot projects with our systems to act as the policy “inspector” for high-value policies with large amounts of project risk.
• We have developed ROI calculators to assist in the conversion process from paid demos to full subscription customers. We hope this will expedite the conversion process.
• Converting pilots to paid subscriptions during construction season is a slow process.
• Customers are struggling to understand the full value of our pricing model without running the technology for a full season or project lifecycle.
• Pricing model disco.
New Features/Updates:
• Weather Data Tab Chart Information: and analyze weather data with new chart features for better decision-making.
• User Notification Feed: time notifications about project updates and alerts.
GroundTruth & PavewisePro Feature Split: Separate features for GroundTruth and PavewisePro to suit specific project needs.
• Multi-Company Feature: Manage projects across multiple companies within Pavewise for seamless collaboration.
• New Future Radar + Increased Accuracy: Improved radar for more accurate future weather predictions.
• Display Battery Information on Devices: Monitor the battery status of connected devices to avoid downtime.
• The Talking to Cool People w/ Jason Frazell featured Bryce on their weekly podcast dedicated to unearthing great people’s great stories.
Thank you to the Premier Technology Business Committee for selecting us as recipients of the NDTech award and to the Greater ND Chamber for the nomination! Thank you Fargo Patent and Law for all the patent work this past month.
Thank you to the ND Suicide Prevention Coalition Conference for having Bryce as a speaker at their 7th Annual event to speak on behalf of Suicide Prevention
Brittany Wuori, COO & Bryce Wuori, CEO
pavewisepro.com
bryce.wuori@pavewisepro.com
/company/pavewise
app.pavewisepro.com
Beverly Unrath
Owner, administrator, and CEO, Dakota Home Care
By Mason Gravseth and Arielle Windham
Courtesy of Beverly Unrath
Dakota Home Care offers something special for individuals needing inhome assistance—independence.
It’s one of the few licensed health care agencies in our region allowing patients in the Bismark, Mandan, and Fargo communities to receive care in the comfort of their home, rather than a nursing home or other type of care facility. Compassionate, caring, and award-winning, the company, under the guidance of Beverly Unrath, owner, administrator, and CEO, has helped make a positive impact on numerous patients and families.
And it all started with a desire to offer something more than institutional care to a friend in need.
In 2012, Unrath’s sister, Jamie Fleck, was inspired to start Dakota Home Care. Fleck, who was a registered nurse, wanted to help a 37-yearold friend who had a stroke that resulted in locked-in syndrome. This means that she was cognitively aware of her surroundings but could only communicate with her eyes. As a result, Fleck’s friend would need skilled nursing care around the clock.
At that point in 2012, there wasn’t a single agency in North Dakota that provided in home nursing care. Because of this, Fleck made it her mission to start a home care agency to care for her friend and other people in need in her community. Fleck asked Unrath to join her and help run Dakota Home Care.
At the time, Unrath was working as a member of the National List of Attorneys, concentrating in the credit
and collection industry. She'd started with the organization as a freshman at NDSU and had more than a decade on the job. However, like many working parents, she felt the urge to stay closer to home as her children grew.
“I loved it,” Unrath said, “but I had to do a lot of traveling and that was hard when I had children.”
The opportunity to work with her sister providing a much-needed service to her community was appealing. But Unrath knew that passion was only half the recipe for success. She also needed to understand this new industry.
“I did a lot of research on home care,” she said. “I learned that one out of three home care businesses fail and that made me really nervous. Through lots of prayer, soul searching, and talks with my husband, I decided to take the leap and join Dakota Home Care in 2013.”
“I worked really hard to learn about the home care industry,” Unrath said. “The first thing I did was join the National Association of Home Care, and I started attending conferences, webinars, and really anything I could do to learn. At the time, our business was growing so fast because there was a significant need for home care in our community, so I wanted to make sure that I knew everything I could so I could do a great job.”
As with any new business, there were a lot of challenges at first.
“It was really difficult to find the staff at the beginning,” Unrath said. “I remember reading a statistic from the Long-Term Care Conference early in my career that said that turnover for CNAs is 70%, and that was really shocking to me.”
In order to provide the best care for patients, Unrath knew Dakota Home Care would need to find ways to engage and retain employees.
“We work really hard to make sure that we are providing a very caring
environment for employees,” she said. “We make sure they have a lot of flexibility and that they have a good work-life balance.”
Dakota Home Care was named 2024 Best of Home Care Employer of Choice, Provider of Choice and Leader in Experience. It was the organization’s third consecutive year for these awards.
In the spring of 2024, Unrath was selected as Remarkable Woman of the Year by Nexstar. She had the opportunity to go to Hollywood, California, with 112 other women from across the country who received this honor.
“I learned so much from this experience,” Unrath said. “I learned that we all have a voice, and I learned how I can be the voice of my industry. It also gave me the opportunity to collaborate with other providers to talk about issues and advocate for better services and programs in our community.”
For those looking to make a change in their community, Unrath advises that “you can't do these things on your own, you have to collaborate and get involved with different communities and support systems.”
She also suggested getting involved with mentorship programs to collaborate and get advice from experienced professionals.
For more about Dakota Home Care, visit dakotahomecare.com
Dakota Home Care
dakotahomecare.com
By Michael Danielson, Veterans Business Outreach Specialist
The Veterans Business Outreach Center (VBOC) program is designed to provide entrepreneurial development services such as business training, counseling, and resource partner referrals to transitioning service members, veterans, National Guard and Reserve members, and military spouses interested in starting or growing a small business. U.S. Small Business Administration (SBA) has 22 organizations participating in this cooperative agreement and serving as VBOCs.
Launching and running a small business can be overwhelming and challenging, but with the right support team, it is very attainable and extremely rewarding. One of the most critical steps towards ensuring your business’s success is assembling a strong team of professionals who can provide essential guidance and support. These key players must include a banker, accountant, insurance professional, and lawyer, commonly referred to as your BAIL Team. Each plays a pivotal role in navigating the complexities of starting, growing, and operating a small business, offering expertise that covers financial management, legal compliance, risk mitigation, and strategic planning. In this article, we delve into why these professionals are indispensable for all small businesses and how to effectively integrate them into your entrepreneurial journey.
One of your most important tasks when starting and running a small business is finding a good, trustworthy banker. A banker is not merely a service provider but a strategic partner who helps manage financial resources effectively. From the outset and throughout all phases of business ownership, they assist in setting up accounts, managing cash flow, and optimizing financial structures that align with your company's goals. Whether you're seeking startup or operating capital through loans, lines of credit, or venture capital, a banker provides invaluable insights into navigating the financial landscape. Their expertise in risk management ensures that your business remains financially resilient in the face of challenges, while their network can connect you with potential investors or financing opportunities that propel your growth.
The second member of your BAIL team will be a good accountant. An accountant is essential for small businesses to maintain accurate financial records, ensure compliance with tax laws, and optimize financial strategies. They play a crucial role in managing day-to-day bookkeeping, preparing financial statements, and providing tax advice aimed at maximizing deductions and minimizing liabilities. Beyond financial reporting, accountants provide valuable insights through financial analysis, helping small businesses understand their profitability, cash flow trends, and areas for cost savings. Their expertise becomes particularly critical during tax season, as they navigate complex regulations and ensure that your company remains compliant while leveraging tax incentives and credits available to small businesses.
Thirdly, you will have to find an insurance professional who understands and is able to manage the risk that is essential to the longevity of any small business. An insurance professional specializes in identifying and mitigating risks that could potentially harm your business by assessing your unique risks, whether related to liability, property, cyber threats, or other operational hazards, and recommend insurance policies that provide adequate coverage. From general liability insurance that protects against third-party claims to professional liability insurance that safeguards against lawsuits alleging negligence, insurance professionals ensure that you are protected from unforeseen circumstances that could lead to financial loss or reputational damage. Moreover, they play a pivotal role in managing insurance claims efficiently, minimizing disruptions to your business operations and facilitating a swift recovery in the event of a covered incident.
The last member of your BAIL Team is your lawyer. Navigating the legal landscape is complex for small
businesses, requiring expertise in business formation, contract negotiation, intellectual property protection, and regulatory compliance. A lawyer provides indispensable guidance from the inception of your business, helping you choose the appropriate legal structure (such as LLC or corporation) that aligns with your goals and protects personal assets. They draft and review contracts with suppliers, clients, and partners to mitigate legal risks and ensure that your interests are safeguarded in business transactions. Intellectual property protection is another crucial area where lawyers play a vital role, filing trademarks, copyrights, and patents to secure your company's innovations and branding. They provide ongoing counsel on regulatory requirements, ensuring that your business operates within the bounds of the law and mitigates legal exposure that could jeopardize its sustainability and growth potential.
Engaging these professionals early and often in your entrepreneurial journey is paramount to setting a solid foundation for growth and success. During the initial planning stages, their insights can inform critical decisions related to business structure, financial planning, risk assessment, and legal compliance. By understanding your company's specific needs and growth objectives, you can align their expertise with
your strategic priorities, ensuring comprehensive coverage across all facets of your business operations.
Every small business is unique, requiring tailored expertise from each professional based on industry dynamics, market conditions, and growth opportunities. Assessing your company’s specific needs helps determine the depth of expertise required from your banker, accountant, insurance professional, and lawyer. Whether you're running a tech business that requires specialized intellectual property protection or a retail venture that needs robust inventory management solutions, selecting professionals who possess relevant industry experience, and a track record of success is crucial to achieving your business objectives.
Successful integration of your business dream team hinges on building strong relationships characterized by trust, communication, and mutual respect. Choose professionals who not only demonstrate proficiency in their respective fields but also align with your business’s values, vision, and entrepreneurial spirit. Regular communication and collaboration foster a synergistic relationship where advisors can proactively anticipate your evolving needs, provide timely advice, and support strategic decision-making. By cultivating a collaborative environment, you leverage the collective expertise of your dream team to navigate challenges, capitalize on opportunities, and drive sustainable growth.
Small business success centers on the crucial task of assembling a dedicated team of professionals.
Consider tech ventures that leveraged strategic advice from bankers to secure venture capital funding, accountants who optimized tax strategies to enhance cash flow management, insurance professionals who protected against operational risks, and lawyers who safeguarded intellectual property rights. These real-world examples highlight how integrating specialized expertise into your business empowers you to overcome obstacles, innovate boldly, and achieve long-term sustainability in a competitive market landscape.
When choosing your BAIL team members, consider that small businesses often operate within limited financial resources. Seek professionals who offer valuealigned services or explore alternative fee structures, such as hourly rates or fixed fees, to manage costs effectively while receiving quality advice and support. Clarify roles and responsibilities among your BAIL team to avoid overlaps or gaps. Establish clear communication channels and conduct frequent meetings to ensure you’re covered across financial, legal, and insurance domains.
As your small business evolves and expands, reassessing the composition and expertise of your BAIL team becomes essential. Whether scaling operations, entering new markets, or pursuing strategic partnerships, aligning your team of professionals with evolving business objectives enables you to navigate complexities with confidence and capitalize on growth opportunities effectively.
Assembling and managing your BAIL Team—a banker, accountant, insurance professional, and lawyer—is foundational to the success of your business. Their collective expertise in financial management, legal compliance, risk mitigation, and strategic planning will empower you to navigate challenges, seize opportunities, and achieve sustainable growth in today's competitive market environment.
701-738-4850 und.edu/dakotasvboc /dakotasvboc @DakotasVBOC
4200 James Ray Dr Grand Forks, ND
