The term “risk transfer” means just that: a risk that one party bears is transferred to another. In reality, risk transfer in the context of a contractual transfer of risk from an insured to an insurer is better understood as a transfer of the financial costs of certain risks. For example, if a subcontractor injures a third-party or damages their property, the subcontractor’s commercial general liability policy should provide the subcontractor with defense and indemnification coverage. In other words, the financial cost of a covered risk is transferred from the insured to its insurance carrier. The ability to finance the costs of potential risks is a key tool in how most construction contracts are structured. Here is how.
4 min read
Today we’re sharing insight from guest blogger Mark Olson, Owner of Athletic Mentors. We hope you enjoy Mark’s wisdom and perspective.
Whether we are discussing high performing 10-year old girls soccer teams, NHL Hockey teams, young startup companies, or Fortune 500 corporations, one quality all of these organizations share is the existence of an exceptional coach or team of coaches. They also have a leader at the top of the organization who fully supports and is fully engaged in the coaching process.
As a business owner of a human performance and wellbeing company, I wear many hats. Within my favorite realm as “Coach,” I am responsible for player development, team building and culture building for both my clients and my staff. These coaching responsibilities can be boiled down into three primary concepts or roles - Success Architect, Accountability Boss, and Emotional Currency Regulator – all of which are essential for any high performing organization.
3 min read
In his book, The Power of a Positive Team, Jon Gordon addresses how teams face or react to the world around them. Circumstances and events happening around a team are not meant to define them. The team is meant to define its circumstances. The power of the team is on the inside, and when a team knows this and lives by it, it will create amazing and positive changes on the outside.
5 min read
Today we’re sharing insight from guest blogger Randy Taussig, Chief Navigation Officer at BlueCore Leadership and Certified EOS Implementer™. We hope you enjoy Randy’s wisdom and perspective.
Consistent solving and moving through issues are some of the most difficult challenges entrepreneurs face. It’s not surprising that most find it challenging and frustrating. It takes focus, discipline and a solid methodology to get it right.
Here’s where many entrepreneurs get tripped up:
. The issue produces so many pain points that they don’t know how to dig deep and identify what the real issue is.
Issues might have several sub-parts or smaller issues embedded in them.
. Their discussion comes from a place of frustration, opinion and emotion, and it’s harder to step back and see what the real issue is.
3 min read
Uncertainty is chronic.
Instability is permanent.
Disruption is common.
We can neither predict nor govern events.
As Jim Collins writes in BE 2.0, a ‘new normal’ doesn’t exist. “There will only be a continuous series of ‘not normal’ episodes.”
GULP. What to do?
It’s never been more important for leaders and their teams to be rapidly improving their readiness. Those most prepared, and willing – the ready – will be able to adapt and thrive. For the unready, whether they realize it yet or not, the future will be a scary and unpleasant place.
Leaders must act clearly and decisively. Accountability and discipline will be key. So will humility, vulnerability, and fairness.
As Collins considers his work over the past thirty years, he comes back to what might be the principle he’s most closely associated with: first who, then what. Successful organizations will be the ones with the right people (RP) in the right seats (RS) on the bus.
4 min read
Today we’re sharing insight from guest blogger Kathy Mayfield, Integrator at Traction® Tools. We hope you enjoy Kathy’s wisdom and perspective.
You know accountability is necessary to gain Traction®, but how will greater accountability affect the culture of your workplace? You don’t want to give up the fun, family feel of work. You don’t want people to start dreading Mondays because somebody’s going to hold their feet to the fire. You want a lively, engaged workplace that people love to be a part of. Will greater accountability be a company culture killjoy?
Perhaps the better question to ask is, “What happens when there’s no accountability?”
2 min read
Complacency breeds mediocrity. Good is the enemy of great. We’ve all heard these phrases. They’re meant to be motivational, inspiring us to push ourselves. Be better. Do more. But more often than not, I see the words get twisted in a way that leaves us feeling like we can never quite be good enough.
Throughout my conversations with friends, family, and colleagues, we often address the question, “so what’s next?” As someone who is surrounded by so many high-achieving people, I can quickly become discouraged just thinking about it. Questions like, “What’s next?” “What else is out there?” “How will I know when I’ve ‘made it’?” can easily consume my thoughts and I catch myself getting sucked into a mindset of always striving for something more, without being entirely sure of what “more” is.
5 min read
Today we’re sharing insight from guest blogger, Nancy Owsianowski, Founder of RoundTable Consulting, LLC. We hope you enjoy Nancy’s wisdom and perspective.
It’s January. Time to open that brand new calendar and think about goals, dreams, and the potential of the year ahead. With the new year, we get a fresh start and the chance for a new perspective. After 2020 drew our collective attention to health-related topics we have a greater appreciation for good health and the significance of strong relationships. We want a healthier life and healthier organization.
3 min read
Have you ever felt you might be on the edge?
- Maybe like Melle Mel, you’re getting pushed to the edge and trying not to lose your head.
- Perhaps you’re on the edge of your seat, anticipating what is going to happen in the Season 2 finale of The Mandalorian (link contains episode spoilers!).
- Or, riding to spectacular glory On The Edge in Michigan’s Copper Harbor Trail System.
Like individuals, teams also find themselves on the edge. It can run the gamut between being in a precarious position, almost there, before the fragile bonds holding everyone together begin to break; to one of great excitement and pure joy, roaring down the hill together after the long climb up.
What separates those special teams – the kind, if we’re lucky, we get to be a part of maybe three or four times in our life – from the more mundane, but solid experiences?
2 min read
Holidays are synonymous with traditions. Beyond the traveling, heading home and famous family recipes, the holidays have a way of reminding us of memories and times spent with family.
This year has presented us with many challenges, cancelled events, and other setbacks. This spring, few would have imagined we would be where we are today. At this point, most of us have been looking forward to something to celebrate for weeks.
With concerns of COVID-19 cases rising in the coming weeks and larger gatherings showing increased rates of getting or spreading the virus, how can we safely continue these traditions?
This year there will be no licking of spatulas or taking the edge of the frosting off the dessert or bumping your cousins’ elbows under the table. Most recommendations centralize on wearing masks, maintaining safe distances, limiting the number of guests, and taking precautions on food preparations and changing how we traditionally sit down to eat, or celebrating at home with immediate family only.