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Welcome to the April edition of “Your Business Matters!” Spring has sprung, which means flowers of all shapes and colors will soon be blooming in full. Not to be outdone, we decided to give our newsletter a little makeover, too! Along with our updated design, I thought it might be good to take a look at how we began and blossomed into the firm we are today. Let’s take a trip down memory lane.

As far back as I can remember, I’ve always been interested in deal-making. It’s why I do what I do today. The art of negotiation, the nuance of compromise, and the intricacies of complex transactions all add up to getting people exactly what they want for exactly what they want to give in exchange. The thrill is in the details of the deal; that’s why I’ve stayed in my area of law for so long, and that’s why I’m proud of what I’m able to offer my clients and community. I love working with you to get you the best possible outcome for the least amount of stress. When a detailed understanding of business law

is coupled with a lifelong inquisitiveness for technology, my firm’s clients gain access to a laser focus on providing the best representation for their business. Through this practice, we are able to afford our staff industry-leading resources, allowing them to practice to the best of their abilities. When it comes to innovation, Alexander Abramson works hard to stay at the forefront of our field.

Since 2005, I have helped countless clients see their business-related issues through to an outcome they can be proud of. However, as happy as I may be with where I am today, it was a long road getting here. I began practicing in 1993, and my journey in law started with its fair share of hurdles. My first job after law school was in patent law, and I could not have hated it more if I tried. I didn’t get into this industry to sit at a desk all day staring into a blank abyss of paperwork. But there was a bright side: What that position did offer me was the opportunity to interact quite a lot with in-house counsel. That exposure helped me realize where I wanted to be for the rest of my career.

While no job is perfect, I knew I had to get out from behind that desk. I figured, while I was at it, that I might as well merge all my various passions into something I would never grow tired of. Since I was young, I’ve always been a bit of a numbers guy, and by extension, I’ve had an abiding interest in all things technology. These dreams date back to the 1970s, when I was messing around

with behemoth 8-bit computers that filled whole buildings. I wanted to find a way to consolidate my interests into a law firm at the forefront of its industry, in both innovation and customer outcome. I like to think we’ve done just that, and the results show in the many smiling faces of the clients we’ve served. Because of our services, many of them have been able to walk back into their lives with a continued sense of optimism about their futures.

Today, we have our mind set on branching out into all facets of our industry. In the past 18 months, we have released two books and rolled out a new campaign to help other attorneys plan and execute the profitable sale of their practices. As for us, we aren’t going anywhere. We pride ourselves on being a pillar of our community and delivering all the benefits a small firm is able to offer. Here at Alexander Abramson, we’re more interested in helping our clients feel at home than cycling them through for profit. We pride ourselves on offering end-to-end legal services for both multi-owner and single-owner businesses. Whether you need help forming a new business partnership and drafting its partnership agreement, safeguarding the growth of the company with the appropriate commercial contracts, or developing a successful exit strategy, you can contact us at (407) 649-7777 or visit our website at AlexanderAbramson.com. We’d love to help you and your business make a deal.

DEAL-MAKING IN THE DIGITAL AGEMy Journey in Law

–Ed Alexander

Your Business MattersAlexanderAbramson.com • (407) 649-7777

May 2019

Published by The Newsletter Pro | www.TheNewsletterPro.com (407) 649-7777

2 AlexanderAbramson.com Published by The Newsletter Pro | www.TheNewsletterPro.com

THE GOOD KIND OF GOSSIPHow to Cultivate Valuable Customer ReviewsNo matter how much someone loves their job, at the end of

the day, most people come to work to get a paycheck. But providing steady income to your employees doesn’t mean they will automatically feel appreciated and stick around, and it shouldn’t! If you’re struggling with employee churn and an unhappy workplace, it’s time to look at how you can create a culture of gratitude.

BE A LEADER

If you want to cultivate a culture of gratitude, you need to lead the charge. This doesn’t have to be a big production; a quick, genuine “thank you” when you’re passing through the break room can go a long way. A study from the University of Pennsylvania found that when leaders expressed gratitude to their employees, those employees were 50 percent more successful. Plus, employees that feel appreciated tend to have a higher degree of job satisfaction, which is crucial for longevity.

KEEP COMPENSATION AND BENEFITS CURRENT

Offering good benefits shows employees you’re invested in their overall health and futures. If you find yourself losing good employees to your competition, it might be time to look at what they offer that you don’t. Are you paying employees a fair wage for their work — or better? Do the benefits go beyond the legally required minimum? Are they the kinds of benefits your employees actually want and need? Having a reputation for offering the best benefits in your area will attract quality employees and make your current employees feel valued, keeping them from seeking greener pastures.

PRIORITIZE RESPECT

Respect is one of the top three things employees look for in the workplace. In fact, a 2012 survey of social workers found that a lack of respect is a large contributing factor of voluntary turnover. Paul Marciano, organizational psychologist and author of “Carrots and Sticks Don’t Work,” outlines a few critical ways managers can show respect.

• Equip employees with the tools they need to be successful.

• Set clear expectations and hold employees accountable.

• Practice thoughtfulness, empathy, and kindness.

• Trust in your employees’ abilities — don’t micromanage.

Employee happiness doesn't have to come at the cost of company profit — just look at Salesforce! This global CRM leader was voted the No. 1 spot on Forbes “100 Best Companies to Work For” list in 2018. More often than not, happiness translates to overall success. Look around and see how you can start building a culture of gratitude and happiness at your own company.

When you’re thinking about buying a new product or service, what’s the first step you take? If you turn to the world wide web in search of reviews, then you’re in good company. According to a survey conducted by BrightLocal, 85 percent of consumers regard the customer review to be the single most credible and trustworthy source of advertising. That same survey found that 68 percent of customers surveyed were willing to provide feedback for a company. So, how do you get your customers to write the glowing reviews that help close deals?

DIVERSIFY YOUR PLATFORMS

Don’t rely on customers to go to your website to leave reviews. There are numerous websites you can utilize that make leaving feedback more convenient for your clients. What’s more is that these other platforms are highly trafficked. BrightLocal found that Facebook and Yelp were consumers’ most trusted source of user reviews in the U.S., but you can also use Google My Business or the Better Business Bureau. Most importantly, be sure you are active on all the platforms you use.

OFFER INCENTIVES

Give your clients a reason to write reviews. Consider offering incentives like a discount or coupon code, coffee gift card, or an entry to win a contest for an even bigger prize.

ASK THE RIGHT QUESTIONS

Think of the review process as a conversation rather than a request to be met, and use open-ended questions to start. Before you even request a review, you can ask customers questions like “How was your recent experience with us?” or “How are you liking your product?” That way, you can gauge their satisfaction before they leave any feedback.

RESPOND, RESPOND, RESPOND

The last thing you want to see is a scathing one-star review. But no matter how hard you work, they are still bound to happen. When you receive one, take the time to respond thoughtfully — without being defensive — and try to come up with a possible solution to the complaint. And be sure to respond to your positive reviews as well. When you show that you engage with all of your customers, prospective ones will be more likely to give you a shot.

Why You’re Experiencing Churn Instead of Gratitude

THE CURSE OF THE UNGRATEFUL EMPLOYEE

3Published by The Newsletter Pro | www.TheNewsletterPro.com AlexanderAbramson.com

Monday–ThursdayAre 4-Day Workweeks the Secret to Productivity?

PUZZLEHAVE A Laugh

Could you get more done with one less day in the week?

Of course not! Most of us need more time in the week, not less. At least, that’s the assumption. But a New Zealand company recently proved that when it comes to company productivity, less may mean more.

In March of 2018, Perpetual Guardian, a finance management company in New Zealand, began testing a four-day workweek for its 240 employees. Researchers from the University of Auckland and Auckland University of Technology studied the firm before, during, and after the trial. Perpetual Guardian isn’t the first company to test-drive a four-day workweek, but during the trial period, they did something unusual: They didn’t reduce employees’ salaries.

Paying employees for five days of work while only requiring four days sounds like a surefire way to bankrupt a company, but researchers found the change had the opposite effect. By trimming the hours down and maintaining pay, Perpetual Guardian saw a 20 percent increase in productivity. The shorter workweek motivated employees to get their work done quicker by cutting down meeting times, becoming more self-motivated, and telling their colleagues when they were being distracting.

After the trial, employees at Perpetual Guardian also reported feeling 7 percent less stressed and a 24 percent improvement in work-life balance. Considering the fact that burnout — and the sick days that come with it — is such

a problem in the United States, providing employees with a better work-life balance may be the secret to a happier, more productive workplace.

After the successful trial, Perpetual Guardian opted to stick with the four-day workweek permanently. They provide several tips for implementing a four-day workweek at your company.

• Do your own web and local research.

• Speak to your staff and be clear about your objectives.

• Ensure policy is well-supported and resourced.

• Create a policy that can flex depending on workloads, projects, or customer requirements.

• Let your customers know what’s going on and assure them there will be no drop in service.

• Ensure the new employment structure doesn’t cut across legal requirements.

• Be clear that the aim of the initiative is to benefit the company as well as the employees.

• Recognize that flexible working initiatives aren’t magic bullets.

If you’re interested in learning more about Perpetual Guardian’s four-day work week, check out the white paper written by The University of Auckland researchers at 4DayWeek.co.nz/four-day-week-trial.

4 (407) 649-7777 Published by The Newsletter Pro | www.TheNewsletterPro.com

Inside This Edition

220 N Rosalind Ave Orlando, FL 32801 (407) 649-7777AlexanderAbramson.com

2. How to Cultivate a Culture of Gratitude The Value of User Reviews and How to Cultivate Them

3. Is Your Company Ready for the 4-Day Workweek? Have a Laugh

4. Using Chatbots in Small Business

1. A Look Back at How We Got Our Start

‘How Can I Help You?’How to Incorporate Chatbots Into Your BusinessPeople have long been curious about what robots could do for humans. Historians have even traced robotic inventions all the way back to 400 B.C.! Since then, the field of robotics has come a long way and brought modern society inventions that change how people live, learn, and even run their businesses. One such robotic innovation that has increased in popularity in recent years is the chatbot. According to Entrepreneur.com, Facebook found that over 2 billion conversations were held between customers and the 100,000 chatbots on its messenger platform in 2017. But though chatbots have only become mainstream in the last few years, they’ve been around for decades.

Chatbots go all the way back to 1966, when Joseph Weizenbaum’s ELIZA terrified and mystified the masses. ELIZA was the first chatbot to master short, human-like conversations until various improvements were made in the following decades, including ALICE in 1995. ALICE’s capabilities were so profound that she paved the way for today’s widely used artificial intelligence inventions.

Amazon’s Alexa, Apple’s Siri, IBM’s Watson, and the Google Home are all forms of AI chatbots that utilize human-like linguistics, but according to Murray Newlands, CEO of chatbot company Chatty People, bots can also take on scripted forms. These bots are ideal for answering common, simple questions from customers. Today, implementing a chatbot for your

business is more convenient than ever. According to Newlands, you can even create your own bot on Facebook Messenger without having to design a code.

To dip your toes into the chatbot world, start by establishing a part-time bot during a busy season, or use one to ease the number of common and simple questions your employees have to answer. This delegation of inquiries will allow your employees to focus on more pressing tasks. Additionally, your chatbots can bridge language barriers and assist clients who struggle with verbal communication.

While chatbot technology has various benefits, it also has various limits. Before you dive right in, make sure you’re aware of how much your chatbot can do for your customer before a human customer service representative has to step in. Many inquiries require human interaction, so monitor your chatbot’s responses, program your chatbot to direct customers to you or your team, and let customers know your bots are only designed for certain tasks. Your bot has to be easy to understand, or no one will use it.

A lot has changed since 400 B.C. Technology is advancing fast, and when businesses don’t keep up with the times, they fail. If you use it effectively, chatbot customer service is a phenomenon that will surely keep your business a bot above the rest.

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