Recent news of financial misappropriation by employees, brand hijacking and even natural disasters have left many businesses in the lurch and even closed many. As a business owner or leader, time and knowledge is critical. The pace of each day leaves little time for knowing every facet of your business. As budgets tighten, you are pressed to do more with less. It is not uncommon to have a myriad of things fall through the cracks - blind spots! This year's 7-7-7 panel will explore the many blind spots that exist and offer some simple and practical tips for identifying and preventing them from doing further damage.

1. 7 Experts – 7 Tips – 7 Minutes
The Seven Blind Spots of Business
May 23, 2012
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2. Ground Rules
1. Each EXPERT will have SEVEN MINUTES to share their
TIP.
2. A one-minute warning will sound.
3. Once the signal sounds, no more TIPS!
4. Please hold all questions until the end.
5. There will be approximately 30 minutes for questions
and answers after all have shared.
6. Questions should be directed to the moderator.
7. Please keep track of TIPS on the back of your info sheet.
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3. Today’s moderator
Veronica Williams
President
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4. Jill Muhr
Director of Operations
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5. Hiring is a Big Deal
• Lots of: time, money, effort
• Turnover costs:
• Minimum wage employee 1/3 to ½ salary
($5,600-$8,500)
• $50,000 employee 1 – 2X salary
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6. After All this Effort:
• Sink or swim philosophy
• We don’t have time to coddle employees.
• No one gave me extra help when I was
new.
• We don’t have a training budget; they’ll
just figure it out.
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7. Some Employee Statistics
• According to research by the Aberdeen
Group, 86% of new hires make their decision to
leave or stay within the first 6 months; and
• 89% of new hires say they do not have the
optimum level of knowledge and tools
necessary to do their job.
• According to research conducted by Society for
Human Resources Management, 79% of those
who quit their jobs cite lack of appreciation as
the main reason.
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8. Onboarding: deliberate, focused efforts
over the first 6 months to a year to help
new employees acclimate.
• Feel comfortable sooner
• Feel competent and become more
productive
• Become an engaged team member
• Happier customers
• Reduced turnover
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9. First Impressions Count
• Send a new employee packet before the start
date; practical information: dress
code, parking, lunch protocol, job
description, sense of the culture, etc.)
• Clean work space
• Make sure supervisor is in first day
• Message: “We’re so glad you’re here!”
• Tour, introductions, lunch
• Spend time with top executive
• Add to all communication lists
• Be creative! (freebies, note from
top executive)
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10. Tools of the Trade
• Assign a mentor or buddy
• Provide all the materials and equipment
needed
• Provide information or where to find it
• Provide role modeling
• Check in periodically to see how they’re
doing; what else they need--
weekly, monthly
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11. C-o-n-n-e-c-t-o-t-h-e-o-d-o-t-s
• What is this job and its purpose?
• What does excellence look like?
• How does this position contribute to the
well-being of our customers?
• Set up informational meetings with
managers in other departments
• Communicate goals, mission and core
values
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12. Employee Recognition and Motivation
• Recognize early and often!
• Give honest feedback and coaching
• Determine first year milestones
• Recognize and celebrate
accomplishments
• Get to know the whole person
• Learn what’s important to this employee
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13. What’s good for new staff is good for all
• Don’t have dumb policies
• Nip bad behavior in the bud
• Encourage and value employee ideas.
Listen!
• Engender trust: keep your
word, communicate often (even to say “I
don’t know yet,”) never publicly
criticize, be consistent in
actions, values, practices.
• Accentuate the positive! 13

14. Jon Jamieson
President
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15. Risk Management
• Once risks have been identified and
assessed, all techniques to manage the
risk fall into one or more of these four
major categories:
• Avoidance: eliminate- withdraw from
• Reduction: optimize – mitigate-disperse
and redundancy
• Sharing : transfer risk – outsource or insure
• Retention: accept and budget
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16. Break it down to the most obvious
threats to your operation:
• Employees not able to come to work and
the fall out of whatever has happened to
them.
• Power/communication interruptions.
• What will produce these outcomes?:
• Fire.
• Flood.
• Blizzard/Ice storm.
• Theft, vandalism, PHISH reunion.
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27. Amy Mailloux, CTP
Vice President
Senior Cash Management Advisor
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28. 28

29. 29

30. Agenda
•Scope of check fraud?
•Mitigate the risk?
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31. Nearly 60% of all
business transactions
are made by check!
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32. Industry Statistics
2006 2009 CAGR*
Total (billions) 95.2 108.9 4.60%
Checks 30.5 24.4 -7.2%
Debit Card 25.0 37.9 14.8%
Credit Card 21.7 21.6 -.052%
ACH 14.6 19.1 9.3%
2010 Federal Reserve Payments Study
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33. Why checks?
•Float
•Fraud Prevention Services
•Reconcilement
•Remittance
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34. Prevalence of Fraud by Payment Method
Type of payment % of organizations subject to
attempted or actual fraud in 2011
Checks 85%
ACH Debits 23%
Purchasing Cards 20%
ACH Credits 5%
Wire Transfer 5%
Payroll & Benefit cards 5%
Source: 2012 AFP Fraud and Control Survey
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35. 2012 AFP Fraud and Control
Survey shows that…..
Average
Fraud is
loss
up 25%
$19,200
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36. Who is committing the crime?
Kind of party % of Organizations subject to
attempted or actual fraud in
2011
Outside individual (ie. checks forged, stolen) 85%
Organized crime (ei. City specific crime spree) 16%
Internal party 11%
Third party or outsourcer (ie. Vendor, professional 7%
services provider)
Account takeover (ie. Hacked system, malicious 7%
code – spyware, malware, man in the middle)
Lost, stolen or compromised laptop or mobile *
devise
Source: 2012 AFP Fraud and Control Survey
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37. But why?
•Can’t look at every check
•Check Conversion (check 21)
•Accelerated availability
•Low cost, high quality equipment
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38. Regulations are changing…
Isn’t the bank responsible when there is check
fraud?
Changes to Uniform Commercial Code (UCC)
• Significant rewrite of articles 3 and 4
•Introduced “negligence” and “ordinary care”
• potentially shifting responsibility for fraud
•“Ordinary care” requires companies to follow “resonable
Commercial standard”
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39. What am I worrying about?
Usually the WRONG things…….
Who is the
boogey man?
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40. What should I be worrying
about?
•Keep checks & endorsement stamps in a locked location
•DO NOT take photocopy of checks that come into your
office
•Banks will never send you an e-mail asking you for
information
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41. #1 Way to Prevent Check Fraud
Check your account
on-line EVERY day.
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42. Other Ways to Protect Your
Business
•Segregation of duties
•Timely reconciliation of accounts
•Insist on vacation time off
•Protect check stock and endorsement stamps
•Positive Pay
•ACH Debit Blocks
•Create separate accounts for tax payments, payroll, etc.
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43. David Rose
President and Founder
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44. On Sept 17th, 2011 Floyd Mayweather
sucker-punched Victor Ortiz in Saturday
night's welter-weight title fight in Las Vegas.
44

45. Protect Yourself at all times!
IT Basic & Pitfalls
45

46. Security:
• Use and Manage a quality Firewall Appliance
• Don’t assume that no one wants to access your data
• Don’t store confidential data unless required.
• Credit Card data
• Social Security #
• Birth Date
• Use strong passwords – 8 case sensitive, alphanumeric
• Change Passwords periodically. 90 days.
• Case Study.
46

47. According to the US Archives and Records
Administration, 93% of the companies that lost
their entire data for 10 days or more filed for
bankruptcy within one year of the disaster and
50% of businesses that found themselves
without data management for this same period
of time filed for bankruptcy immediately.
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48. Business Continuity:
• If your server was stolen today could you be operational
tomorrow?
• What would happen to your business?
• What is your Business Continuity Strategy?
• Do you test your backup on a regular basis? How do
you know you can restore data?
• Business Continuity is not the same as backup.
• If you delegate this function, test it quarterly.
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49. 49

50. 50

51. With today’s technology and pricing, the
only reason to lose data or have
significant downtime is poor decisions.
Never Click Here!
One Tip: Protect Yourself at all times!
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52. Nicole Junas Ravlin
Co-founder
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55. https://www.facebook.com/policies/

56. Facebook cover images on brand pages
are for visually branding your page –
think striking image – NOT advertising

57. You must administer ALL contests
on Facebook via a third-party app ON the
Facebook platform.

60. Insights = Measurement
Photo provided by facebook

61. Issa Sawabini
Partner
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62. Awareness vs Engagement

63. Control

64. You Are Losing Control
Consumers Are Defining Brands

65. Shifting Mindset

66. Progression
Awareness / Adoption / Loyalist / Advocate

67. New Marketing Philosophy

68. Shouting Isn’t Enough
Consumer Engagement

69. Consumer Engagement
Think Beyond Advertising
Build A Relationship
Creating Experiences
Multiple Touchpoints

70. New Marketing Philosophy
7 minutes vs. 420 seconds

71. Two Way Dialog
Engaging
Sharing
Asking
Answering
Empowering
Reacting
Rewarding

72. New Marketing Philosophy
Chief Engagement Officer vs. CMO

73. 360 Integrated Approach
Experiential
Digital
Social
Advertising
PR
Retail
Trade

74. Why Care?
Recall
Preference
Purchase Intent
Lifetime Value

75. Why Care?
It’s What The Consumer Expects

76. Keys To Success
1// Evolve Your Internal Marketing Culture
2// Create Experiences
3// Consistent Personality
4// Listen & React
5// Empower

77. Stop Shouting & Start Engaging

78. Porter Knight
Author
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79. “I can do it [all] myself.”
SHRED the illusion
 Sleep
 Hobbies
 Relationships
 Exercise
 Diet
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80. “I can do it [all] myself.”
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81. Process Documentation
Spell it out, step-by-step
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82. “I’m not going to do it [all] myself.”
Benefits
 Workforce flexibility
= Better results
> Efficiency
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83. Success is measured
by results,
not “busy-ness.”
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84. Questions?
Please direct either towards a specific
panelist or in general for any to answer
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85. THANK YOU FOR ATTENDING TODAY
Copies of today’s presentation are available
for sharing or download at:
 www.twitter.com/FamBizSuccess
 www.facebook.com/vermontfamilybusiness
 www.slideshare.com/dvdv
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