On this episode of The Small Business Radio Show…
We first talk about what it means to be human in a business world where more and more things are automated and the average customer may rather talk to Alexa and Siri than a live person. What “human” advantages do small business owners have and how can we leverage them in this increasingly automated world?
Then, this time of the year every company and business person faces the question – what are we going to do about health insurance this year? We show you what you can do as a small business owner to help your employees get good health insurance and health benefits while still controlling your costs.
Finally, do you have a side hustle? You might be surprised how many Americans do. A new study shows that 25% of Americans, 57 million people, have a side hustle, meaning they have a full time job and they are doing something else to earn money on the side. We dive more into this study and talk about what these side business owners need to do to protect themselves that they may not realize.
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Segment 1: Alexandra Levit’s goal is to prepare organizations and their employees to be competitive and marketable in the future business world. She conducts primary workplace research on behalf of several Fortune 500 companies and for the Obama administration. A former nationally syndicated columnist for the Wall Street Journal and writer for the New York Times, Fast Company, and Forbes, Alexandra has authored several books, including the international bestseller They Don’t Teach Corporate in College and the new book, Humanity Works: Merging Technologies and People for the Workforce of the Future.
2:30 – Why is Humanity Works important for this time in business history?
3:15 – Why do people prefer Alexa, Siri, and chat over conversations with other people? Is this alarming?
5:30 – What the “robot takeover” will really look like for most small businesses.
7:45 – Just because something can be mass produced, or can be re-created with artificial intelligence, doesn’t mean it should.
9:00 – What can small business owners do to make themselves more human?
11:45 – What trends like increasing contract and virtual work mean for small businesses.
Segment 2: Allison De Paoli is the founder of De Paoli Professional Services. They help employers add control and predictability to their employee benefits spend.
19:45 – What can you do as a small business owner to help your employees get good health insurance and health benefits while still controlling your cost?
21:00 – Get your claims data! It’s your data, ask for it.
23:30 – There is an inverse relationship between quality of care and cost of care. Typically, the highest cost care is NOT the highest quality. Why is this?
25:00 – Where do you start in figuring out what health insurance you need for your small business?
27:30 – What is noncompliance of medication and why is it a huge issue in health care?
28:45 – How do benefits advisor work? How do they get paid?
30:00 – What should small business owners always include in their health insurance plans for their employees?
31:45 – How misaligned incentives in healthcare are destroying the middle class.
33:00 – Can you use futures contracts in healthcare? You sure can!
34:15 – What is the future of health insurance in this country?
For more information, go to http://www.allisondepaoli.com/businessinsanity
Segment 3: Lynn LaGram is the Small Commercial Product Lead at The Hartford and spokesperson for The Hartford’s Business Owner’s Policy.
38:15 – The Hartford’s study found that 25% of Americans, 57 million people, have side businesses. Were you surprised?
40:15 – 60% of people started a side business for the extra money, as opposed to just pursuing a passion or a hobby. What types of side businesses do people have?
42:45 – Why do people with side businesses need to protect themselves with insurance?
44:15 – What kind of insurance do you need to protect your side business? What is the range of costs for this insurance?
47:30 – How are gig workers different and is it common for them to be covered by their contract employers?
48:30 – Is there an age or gender that starts the most side businesses?
49:45 – Where can people learn more about small business insurance? What types of insurance, other than general liability insurance, should small businesses consider?
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