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Saturday, September 05, 2009

NIGHTMARES OF NETWORKING: Become Uncomfortable to Become Better

Nightmares of Networking

with "The Mad Genius"


So, yet again you violate my lab with your stench of despair. It is nearly as offensive as the stink of inefficiency that emanates from Washington! Keep on the path that you are on and maybe you too will become a leach on society, generating nothing of value while stealing life from others. Not a politician, for you will not suck blood. No, you are on pace to become a psychic vampire, sucking away the will to live from all around you, just like Fred did for too long when he became the workplace equivalent of a zombie.


Fred for some reason thought he should be in the financial services world. Maybe because he was above average intelligence and liked money. He was a decent looking fellow and had a good sense of humor and was somewhat gregarious, all of which would push someone without a clear desire towards the financial services world, especially the banking world of the mid to late 1980's. The lack of risk taking that was genetic for Fred as the child of state workers led to this nice, safe, respectable path as a banker.


Fred sells mortgages for a large bank. The current desperate times in that field (once overfilled with idiots and shysters powered by greed and fueled by capitalism turned stupid through avarice unfettered by a soul) fits well with a semi-analytic but too nice person like Fred. In fact, he did the mortgage here on my castle. Very difficult to get a loan to cover both the lab and the moat, had to be re-classified as “Agricultural/Farm Usage”, hence the killer tomatoes and mutant turtles. That is Fred's picture there, next to Donatello. No, not the long haired Art Garfunkel/Mark Twain hybrid: that is my brother.


Yes, I have siblings. The Mad Genius is part of a brood of hyper-intelligent uber-humans that use our disparate talents to acquire power of all forms. That brother has assumed the role of a southern gentleman and is acquiring political power, a mix of Foghorn Leghorn and Tammany Hall. He truly enjoys having battles of the wits with unarmed opponents like you.


Once when we were at genius camp, the facility was also being utilized for a stop on the World Bingo Tour, so there were numerous old ladies with varying shades of blue hair in the cafeteria, complaining loudly and often about the lack of plums and prune juice. Somehow one of them discovered who and what we were, and talked to us ad nauseum because we “looked like nice young boys.” Ha!


“Are you boys geniuses? I always wondered what geniuses looked like!”


My brother is not as, ahem, restrained as I can be. His response?


“Actually, no. We are satanic demon worshipers that cannibalize old people to make way for the future. Want to join us for dinner? We have cake!”


“I don't want cake. It's fattening. I want plums.”


Yes, she also thought that euthanasia is Chinese children. But I digress, as evil super geniuses are wont to do. But the look on her face once she comprehended was priceless, much like Fred's when reality hit him like a 5cm by 10 cm xylum based lateral cranial impact enhancer. A 2X4 to the head for you with the double digit IQ's.


Fred as I mentioned was not a risk taker, business wise or emotionally. He never went out for sports in high school, and I believe the greatest risk he took into his thirties was trying the “medium” salsa. Even though he was good looking he was never married since he never took the risk of asking out a girl because he could not deal with the potential of rejection: better to avoid the whole situation in Fred's mind. Stay in your comfort zone where you can't get hurt, sort of an emotional “Bubble Boy”.


He liked banking because it was emotionally safe. Fred had clearly delineated decision criteria, and could always say “I am sorry, but the bank's procedures and policies say...” It was an emotional crutch for him that allowed somebody else to be the bad guy, and he could wallow in the pleasant feelings within his limited risk world around his little desk. Just show up and work the banker's hours, push some paper and talk pleasantly with little old ladies, and occasionally have something fall in his lap because he was there and a nice young man. Not much expected other than to be happy and cheerful and non-offensive, something he was good at.


And then the world changed around him. The walls between banking and investments and insurances fell, and suddenly Fred had to sell because he was in competition, a place that was as foreign to him as a locker room or Timbuktu. And so he waffled. And he waited. And he started to waste away. No more bonuses since he didn't really produce, and so it started to wear on him and weigh him down, and thus he was no longer so much fun to be around, and those in the branch slowly started to pull away from him as it became apparent to everyone but Fred what was going to happen.


Remember: Fred had no killer instinct, no inborn competitive fire or driving need to close a deal out of just a plain need to win. He cared more about being liked than being respected, so he did not want to “rock the boat” or “push the client too far”. He had lots of people in his system, but few clients because they did not actually buy stuff from him, they just used him as free consulting and did not hurt his feelings because they never came out and said “no”. Fred did not know how to ask for the sale anyway because he did not know how to “close”, to ask for the order. He did not want be considered pushy or rude, and as such was not even really considered for anything other than someone to get free information from and maybe sometimes take an order. Because he was a “nice young man.”


And so Fred sat at his desk and talked to the people that came in, and talked, and talked. But did not sell. Everyone still loved him. Except his bosses. Quarter after quarter the bottom line showed it: Fred was at the bottom of the heap, dead last among his peers that had played sports and actually kept score so they could learn to win and to hate to lose. All the people in the equivalent positions that had scars from trying and falling down but got back up, and had been told “no” by the pretty girl enough to learn how to be told “yes”, and had made themselves uncomfortable to make themselves better, all of them were doing better than Fred.


But that didn't bother him, because as he said “I'm not really into competition.” It didn't bother him, or so he said, until it started to hit his bottom line as he missed out on bonuses, and the cool trips with his friends. And then the massive cranial impact betwixt the visual orbs: produce or be terminated. Sell or lose the nice comfy world around you. Fred was overwhelmingly shocked and dazed: he had to do something he had never done, and did not have the skill set or the guts to do it. And so he sat. And sat. And was miserable. And made those around him miserable, until a month before his deadline.


A nice little old lady was sitting in front of him, someone who he had had many a cup of tea and plate of cookies with, but who had never bought anything from him. He had seen pictures of all two dozen of her cats, knew all the stories of all the grandchildren and about little Billy's “issues”. He had seen all the pictures from her trips and even had the nice little knit doily she had made him the last time she took his advice and implemented it someplace else, with one of his competitors that actually knew how to sell and wasn't afraid of upsetting an old lady by actually asking her to take action more emotionally risky than sharing her cookie recipe.


“You look sad Fred. Why?”


“Well Mrs. Muckity Muck, we have spent a lot of time talking, haven't we?”


“Yes Freddy. I do so enjoy your company. You are such a nice young man.”


Fred took a deep breath, because he was going to go beyond where he felt OK, into the uncharted territory of uncomfortableness. Off his personal map, to where there be dragons. “Well Mrs. Muckity Muck, I like you. I really do. And I hope you like me. But we have invested tons of time into your planning, and you still haven't done what we talked about. And that makes me sad, because I do like you and want to see you do well. So, not to be rude, but either you do this, or you don't. If you do we both win, if you don't than neither of us win. Please, let's win together. The numbers look good, we work well together, so the next step is....”


And she said yes. As did the next little old lady. Not all of them said yes, but Fred started actually asking for people to take action, without being pushy, enough so that he got enough yeses to be kept around. And he asked enough so that now he is actually comfortable asking someone after a few hours to proceed and do business. He is not a big fish in the bank, nor is he a shark by any means, but he is no longer the little guppy he was. He actually is swimming and getting better and stronger instead of just floating along. He is still liked by the blue haired old ladies, and he is actually listened to and used as a provider. Everyone lives happily ever after in the land of rainbows and unicorns.


So here is the lesson, my little Networker: muscles grow by being stressed. Not just your biceps, but the intellectual and risk tolerance equivalents thereof. Subject yourself to stress and eustress to grow, to be better than who and what you were and are. Push the envelop of your comfort zone, and you will not only start to acquire wealth and confidence, you will gain respect. Challenge yourself to be respected and valued instead of being liked. Lift the emotional weights and become strong, or be crushed under the burden like a bug. For that is truly a Nightmare...



For more secrets, you may visit the TNNW Bio of "The Mad Genius", if you dare.

Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.
The National Networker Companies
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BREAKTHROUGH NETWORKING: Divide and Conquer for Better Results

Breakthrough Networking with Lillian Bjorseth


Volumes have been written and said about how to network successfully as an individual. I’m going to take a different approach and discuss why to do it as a team when your goal is “all for one and one for all.”

Interestingly, more than one also appears to be the approach for deciding who first said, “Divide and conquer.” It is attributed to sources ranging from the Bible and Philip II of Macedon to Julius Caesar, Louis XI and Sun Tzu … and probably others! May as well join ranks like that!

Recently, three of four who comprise the Speakers Roadshow in the Chicago area (we visit prospective clients to give a free 10-minute preview of our presentations so clients can see us before they hire us) attended a large networking event (400 attendees) at Hard Rock Café. We arrived together, split up and reconvened in two hours. Conservatively, we spoke in aggregate and exchanged business cards and information with at least 35 people. Far more than each of us could ever have successfully connected with solo!


I want to examine this method in more depth so that hopefully you, too, can benefit from it.

  • Who can use this approach? Companies, associations and other not-for-profits that send more than one person to conferences, trade shows and chamber and other professional meetings.
  • Why use this approach? It’s the number one way to increase value for your time and dollar. You/your employer pays for more than one person to attend outside events to build more relationships and increase your exposure … not to talk with each other. I learned this well when I worked for AT&T. We were instructed to sit at different tables, talk to “strangers” and save the water cooler talk for the office. In this economy, organizations can certainly benefit from this practice and educate their employees about this approach.
  • Here’s an example. In addition to standard networking events, use this approach when numerous company employees attend the same trade show. As the owner or supervisor, review the program ahead of time and assign booths and presentations to various people. (No one person can successfully visit 500 booths or attend fifteen presentations!) And make them accountable to report at a debriefing shortly after the event.
  • Use the tag team approach. If two of you are speaking with the same person, it’s a great opportunity to say positive things about the other person that s/he may not be comfortable saying. At our recent event, someone was complementing one of our group about the excellent presentation he had given for her organization. One of our other members asked the person making the flattering remarks if she had written a LinkedIn recommendation encapsulating those thoughts. She hadn’t … and promised she would the next day! Another use is when one of you is speaking to a person and wants to move on. One of your team members can “relieve” you seamlessly.
  • Get free exposure. Consider having a business card with more than one name if that is appropriate for your business. In our case, we have one card with four names/email addresses/phone numbers on it. To help the person receiving the card, we put a check mark by our name … that way s/he knows immediately whom they met since we have two women and two men in our group. Each of us is gaining exposure when any one of us gives out a card. As I was writing this, I got an email from one of the group letting us know she had had lunch with a hot prospect at a big company and had shared “our” card with him along with the invitation to visit us at our website. Great publicity for me while I’m writing an article for The National Networker!




For more information, please visit Lillian's TNNW Bio and The Speakers Roadshow.



Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.
The National Networker Companies
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NETWORKING SUCCESS: OMG, I’m an Introvert!

Networking Success with Dr. Ivan Misner


By finding ways to enhance strengths and minimize weaknesses, anyone can be a good networker.


Okay, if you don’t know what “OMG” means, ask a teenager (that’s how I learned what it meant). Now, let’s talk about the introvert thing.


My wife and I were having a relaxing dinner one night recently. We were sitting around the kitchen table and we were talking when I made some off handed comment about being an extrovert (it fit into the context of the conversation). She looked over at me and said, “Uhh honey, I hate to break it to you but, you’re an introvert.” I smiled and said, “Yeah sure, I’m an introvert [insert laugh track here].” She then looked at me quite earnestly and said, “No, really you’re an introvert.” I protested strongly. I said, “Come on, I’m a public speaker and founder of the world’s largest networking organization - I’m not an introvert! I can’t be. I mean, you’re joking, right?” She absolutely insisted that I was an introvert and proceeded to share with me all the ways that I have introverted tendencies. Well, I have to admit I was taken back by this. All the examples she gave were true, but I still couldn’t believe that I was an introvert. On the other hand, we have been married for 20 years, I mean, there’s a chance that she might actually know me pretty well.


So off I went the next day to do some research. I did an internet search and found a test that tells you whether you are an introvert or extrovert. Was I in for a shock: The test said that I was a “situational extrovert!” It explained that I was something of a loner that was reserved around strangers but very outgoing in the right context. It was at that moment that I said, “OMG, I’m an introvert!?”


In the haze of my surprise, some very important things came into clarity for me. It struck me why I started the BNI networking organization more than two decades ago. I was naturally uncomfortable meeting new people. This approach created a “system” that enabled me to meet people in an organized, structured networking environment that did not require that I actually “talk to strangers.” OMG, I’m an introvert!


When I visit regions of BNI, I ask my Director to have someone walk me around and introduce me to visitors and members so that I could connect with as many people as possible. But in reality, it’s because I’m uncomfortable walking around introducing myself alone. OMG, I’m an introvert!

I realized that the whole notion of “acting like the host, not the guest” and volunteering to be the Ambassador at a Chamber event or the Visitor Host at a BNI group were all the ways that “I” used to move around more comfortably at networking events not just ways that I recommended for those poor introverts out there to network. OMG, I’m an introvert!


Who would have thought! (Well, OK, besides my lovely wife.)


Now more than ever, I truly believe that whether you are an introvert or an extrovert, you can be good at networking. Both have strengths and weaknesses. By finding ways to enhance strengths and minimize weaknesses, anyone can be a great networker.


How about you? Are you an introvert or an extrovert? Whichever one you are, how do you use this trait in your networking?


Called the “father of modern networking” by CNN, Dr. Ivan Misner is a New York Times bestselling author. He is the Founder and Chairman of BNI (www.bni.com), the world’s largest business networking organization. His latest #1 bestseller, The 29% Solution can be viewed at www.29PercentSolution.com. Dr. Misner is also the Sr. Partner for the Referral Institute, an international referral training company (www.referralinstitute.com). He can be reached at misner@bni.com .



For more information, please visit Ivan's TNNW Bio.

Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.
The National Networker Companies
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POWER THOUGHT OF THE WEEK: E-Volunteering to Build Powerful Networks, Part 2

Power Thought of the Week with Patricia Parham, Ph.D.

E-Volunteering: Web Design and Ancillary Services Provide High Visibility
Web presence is a valued commodity and the ability to design interactive, engaging websites that elicit lots of hits is a valuable service and product to those who lack these skills. Animated graphics, UTube, and language translations are options that make non-profit and small companies appear savvy and sophisticated. Endear your company to them and earn generous praise, referrals and exposure of your logo to their target audience.


Patricia A. Parham
Parham Enterprises
www.parhament.com

For more information, please visit Patricia's TNNW Bio.


Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.
The National Networker Companies


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POWER THOUGHT OF THE WEEK: E-Volunteering to Build Powerful Networks, Part 4

Power Thought of the Week with Patricia Parham, Ph.D.

E-Volunteering: Communicating Leads to Knowledge of Core Issues
Writing emails, e-zines and press releases, proofreading information to be posted, setting up chat rooms, on-line forums, blogs and other internet activities gives knowledge of the client and how they interface with the public and stakeholders. It exposes the strengths of the relationships and areas needing improvement. Use this information to tailor e-mentoring, e-coaching, or professional services to help solve legal, financial, managerial or administrative problems and to maximize strengths and opportunities.

Patricia A. Parham
Parham Enterprises
www.parhament.com

For more information, please visit Patricia's TNNW Bio.


Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.
The National Networker Companies

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POWER THOUGHT OF THE WEEK: E-Volunteering to Build Powerful Networks, Part 3

Power Thought of the Week with Patricia Parham, Ph.D.

E-Volunteering: Research and Database Management Get Your Foot in the Door
To the uninitiated, building databases and finding research information for writing proposals, business plans and program evaluations is daunting and time-consuming. Setting up systems to track legislation or to email donors, potential supporters and clients can be labor intensive – after deciding on the best system to use. If this is within your area of expertise, even for your industry alone, it’s a valuable resource which, when shared, has the potential for exposure to internal clients and insider company information.


Patricia A. Parham
Parham Enterprises
www.parhament.com

For more information, please visit Patricia's TNNW Bio.


Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.
The National Networker Companies

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POWER THOUGHT OF THE WEEK: E-Volunteering to Build Powerful Networks, Part 1

Power Thought of the Week with Patricia Parham, Ph.D.

Leverage E-Volunteering into Referrals and Contracts
Volunteering has long been a method of developing networks and demonstrating the value that you add to organizations and causes. Translate this into the digital reality of this decade and volunteer from the comfort of your computer. It’s easy to share the results of your efforts with the recipients and, if no privacy issues are involved, with others via Facebook or LinkedIn or any number of on-line communities. Sign your work with flourish and get people talking about you.

Patricia A. Parham
Parham Enterprises
www.parhament.com

For more information, please visit Patricia's TNNW Bio.


Published by THE NATIONAL NETWORKER Newsletter. All rights reserved. Subscribe Free - Click HERE.
The National Networker Companies

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BLUE THING 2 - TNNW Product/Service of the Week

TNNW Product/Service of the Week


We provide the best publicity and news release service in the industry. In fact, the best in the known (and even uncharted) universe. Take a look at http://tnnw1.blogspot.com

Want to see some quick samples? The stats and information in these samples are 5 days old as of the date of this printing. Also, the actual releases for the client company which follows, as well as for ICON JET, LLC will be forthcoming in full format for your to drool over (I drool all of the time, especially when I fall asleep on the Metro North) by midweek in the SPECIAL EDITION NEWSLETTER!

1. Sample Reprints of News Release:

http://www.cameratown.com/news/news.cfm?id=8073
http://www.topix.net/content/prweb/2009/08/speedlight-pro-kit-manufacturer-awards-us-firm-exclusive-rights
http://news.yahoo.com/s/prweb/20090827/bs_prweb/prweb2793284_1

Stats: This release went live on 2009-08-27 and is 7 days old. Lifetime (to-date) PR Activity: 16,264. This is a combined total of article headline appearances and site reads, e.g., total views since inception, exclusive of Article Reprint Links via Captive Blog, RSS and opt-in email.

2. Article Reprint Links via Captive Blog, RSS, Email Opt-In:
http://speedlightprokitrss.blogspot.com/2009/09/these-two-entrepreneurs-are-going-to-be.html http://speedlightprokitrss.blogspot.com/2009/09/news-release-speedlight-prokit-has.html
http://speedlightprokitusa.blogspot.com/2009/09/tnnw-welcomes-speedlight-pro-kit.html http://thenationalnetworkerweblog.blogspot.com/2009/09/news-release-speedlight-pro-kit.html
http://tnnwbuzzworks.blogspot.com/2009/09/tnnw-creates-international-ventures-and.html http://theinternationalistpage.blogspot.com/2009/09/speedlight-pro-kit-internationalism.html

Stats: Total subscribership (direct opt-in) combined, not adjusted for double-counting – Approximately 17,500 direct reads, plus approximately _____________ indirect or unique visits (estimated).

TNNW NEWS RELEASES WORK. This release was put out in New York and LA, and to date, more than 40,000 viewers have seen it, it has gotten published (or re-printed or referenced) in 30 states (in the US), Canada and India. And the fun is just beginning.
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TNNW UPDATES! [Read 'em and Smile] - September, 2009, Week 1

THE NATIONAL NETWORKER (TNNW) UPDATE Information...Services...Resources...

SUPERCHARGED NETWORKING : TURNING CONTACTS INTO BUSINESS.

UPDATE ISSUE 10 (New Format)
Get your free subscription to the TNNW Weekly Newsletter: http://twitlik.com/OK

TNNW UPDATES! [Read 'em and Smile] - September, 2009, Week 1
Brand New Stuff, and Progress:

THE NATIONAL NEWSPICKER HAS ARRIVED IN BETA.

Just take a look at this puppy! Play around with it. Experiment. Click on the tabs across the top. This sample version is not available for export yet. We're just "leaking" the news to selected friends... A version will be ready for you to stick on your websites, blogs, newsletters, homepages and social media very shortly. Twenty minutes of newspicking and you'll be the best-informed person in any meeting. Be informed. Make better decisions. Look smart. Try not to be too arrogant.






THE NEW WEBSITE AND BLOG FORMAT.

It's just about finished! (And the recession is just about over)...with navigation tools so easy that your pet weasel, your "addled, kinda teched in the head" cousin Ray, Britney Spears or even your toothless, crotchety, quilt-covered great-grandfather will be able to use them effortlessly. Unlike Internet Explorer 8 (which is a piece of crap) we will actually improve the quality of your media experience, and your ability to MONETIZE your KNOWLEDGE. On a somber note, we are coordinating among three different platforms: Blogger, Wordpress and the HTML Website. The dicey part is going to be making the final product [cue harp music] as seamless and glitch-free as possible.

The nucleus (George W. would likely have pronounced it "nuke-you-lus") of the whole thing will be the website itself (http://www.TheNationalNetworker.com). When we cut the ribbon, you will be able to get to every part and page of the site with the simple tabs on the website. So far, the thing (we actually call it that) is looking smashing, indeed.

THE NEW, BLUE SPECIAL ITEMS.

Have made their quiet debut (that's French!) in the Newsletter this week. When you get to these items, look for the BLUE THING at top of each one. You may ask yourself (in a schizophrenic moment of insecurity), "What's that BLUE THING doing here?" These blue things are very important

TWITTER AND OTHER SOCIAL MEDIA.

If you aren't doing it yet, join us (follow us) on Twitter, at http://twitter.com/TNNW_BUZZWORKS. We are very active on social media, and even some anti-social media, as may be required in the circumstances. And while you're at it, become a fan and supporter (we're leaving out an obvious joke here) of THE NATIONAL NETWORKER on our fan page in FACEBOOK.

Also, start to follow TNNW's Featured Market Research, Polls, Statistics, Analyses and Implications Expert Scott Gingold on Twitter (he conducts fascinating and informative mini-surveys every day) on Twitter, at
http://twitter.com/powerfeedback . We are delighted to have Scott on board. He has a BLUE THING of his own.


PRESS AND NEWS RELEASES.

In these times, a properly-crafted, optimized and submitted press or news release (we prefer "news release") can literally create a sensation overnight. Dollar for dollar, it is, by far, the most cost-effective form of media domination, penetration and infiltration. There are very fewer investments which you can make which yield such amazing and immediate results.

Visit: http://tnnw1.blogspot.com , take a peek, and then come back here to read the Newsletter Articles and Blue Things.


Get your FREE Subscription Today- THE NATIONAL NETWORKER Newsletter

Follow us on TWITTER. We'll follow you back!

GET THE DAILY EMAIL FEED OR THE RSS FEED for TNNW.

We publish items of great interest every day, including special articles, offers to Subscribers and Members, and announcements of news and significant events. Don't miss out. Click on
http://thenationalnetworkerweblog.blogspot.com/ , and sign yourself up for the free DAILY EMAIL or RSS service. Please do it now! Then, come back and read the Newsletter Articles.

TNNW -- LEADING THE CHARGE IN THE FIGHT AGAINST PDDS*

*Note:
You must read the Newsletter to learn about PDDS, this horrific affliction, and some amazing scientific breakthroughs being financed and sponsored by THE NATIONAL NETWORKER COMPANIES which may lead to a treatment, or perhaps even a cure within our lifetime.


With our Commitment of Yet Even Greater Things to Come,

Adam J. Kovitz and Douglas Castle (who is not quite as important as Adam J. Kovitz, who is becoming just a little too proud of himself)



THE NATIONAL NETWORKER COMPANIES TNNW INTELLIGENCE -  NEWSLETTERS, BULLETINS, RELEASES
TNNW SUPPORT - MEMBER SERVICES AND CONSULTING
TNNW BUZZWORKS - BRANDING AND SOCIAL MEDIA DOMINATION
*******
Posted to THE NATIONAL NETWORKER (TNNW). All rights reserved.

To subscribe for your free TNNW Newsletter, go to
http://www.thenationalnetworker.com/ For the complete National Networker (TNNW) Relationship Capital Toolkit and a free continuous RSS feed (available either by traditional RSS or by direct email), go to: http://thenationalnetworkerweblog.blogspot.com/

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Friday, September 04, 2009

SENDING SIGNALS: Don't Keep Watering a Dead Tree: SUNK COSTS.

SENDING SIGNALS .
Don't Keep Watering a Dead Tree: Sunk Costs:

Written By Douglas Castle (http://aboutDouglasCasle.blogspot.com) and originally Published in THE NATIONAL NETWORKER Newsletter. Receive your free Newsletter subscription at http://twitlik.com/OK.

Dear Friends:

One of the greatest challenges facing any business decision maker is the ability to be emotionally detached from any investment. Once made, an investment is either good or bad, and the bad ones don't become better by having money thrown at them -- hence the saying "throwing good money after bad." In England, the appropriate aphorism used to refer to an investor who becomes emotionally obsessed with an investment is, "In for a penny, in for a pound."

Con artists have exploited this propensity for people to "protect their investments," by investing even more capital. An investment, once made, is a Sunk Cost. It is history. It is a seed planted. It is a "let's- wait-and-see" (hyper-hyphenation here!) audition. But it is not a measure of the future or an object to be obsessed upon. If it is bad, it should either be held (with hopes of recovery), or sold to cut the loss. The thing to bear in mind is that it does no good to continue to water a dead tree.

People throw effort, money and other things of value at "sunk costs" for no logical reason. We tend to do it to justify our initial decision to invest. Sadly, we assess our own validity as Human Beings by the things which we have done in the past, and not by what we have learned from the past to made us better qualified to build the future. At the risk of sounding like the late Johnny Cochran, we waste to save face . Ultimately, all we do is increase the magnitude of our losses by 1) throwing good money (or assets) after bad, and by 2) losing the opportunity to invest new proceeds in better things.

It is poor business to compound an error just to defer the realization and recognition of a loss. In fact, part of the way in which profits are made is by cutting losses and changing asset allocations.

It is prudent to remember that money is not the only investable asset: we invest time and we invest trust in people, too. And, of course, we do not like to be adjudged (by others or by ourseves, internally) as having made bad decisions -- so we defend and defer poor choices by digging deeper wells where we know that there is no oil. We pretend that we are going for a leisurely swim when we are being sucked under by quicksand because we don't want to look foolish. Ultimately, we hurt ourselves by failing to cut losses and change direction.

Yes...there is much to be said for tenacity and persistence. But there is just as much good to be accomplished by recognizing a mistake and changing our strategy. Not a one of us would respect a cantankerous old employee who has been with the same company for 40 years and complains (but never directly to his boss, as that would force an action) that "my buddies all made better money than I did because they were in the right place at the right time."

Think about it. Look at where you are standing. Examine your circumstances. If you are in the wrong place, get out and find the right one. If that money pit of a home is consuming your entire life's savings, get out!

The logical choices involving any investment (once made), are limited:

1. Hold it, and don't buy more;
2. If you're doing well, continue...but monitor changes and the propensity toward excesses carefully;
3. Sell it, and invest your recovered proceeds in something different;

While passion and drive are necessary propellents for initial entrepreneurial business success, unemotional, objective and timely evaluation of performance of your circumstances (where you are, who you're with, what you're invested in and what other opportunities you might be missing) is absolutely essential.

Part of being an effective leader, manager or decisionmaker is the ability to identify and acknowledge sunk costs (i.e., confront failures) and change direction. It is not embarrassing to make the decision to correct an error -- even if the error was your own.

Don't keep watering a dead tree. Uproot it, use it as firewood or to make furtniture, and plant something new in its place. Pride and emotional attachment have left one too many otherwise gifted businesspersons sitting in the the desert ... in the shade of a dead tree with an empty canteen.

Passion is wonderful. But sunk costs have to be acknowledged, stoppered, and left in the past.

I would respectfully ask that you remember this: the faster you recognize a loss, the more quickly you can move on toward a success. We learn from failures, so long as we recognize them early on, and do not decide to sacrifice ourselves to them.

Faithfully,

Douglas Castle

Labels: sunk costs, bad investments, cutting losses, opportunity cost, failure as an investment in success, Behavioral Psychology, Articles by Douglas Castle, choosing where to spend your time, choosing the right people to invest your time with, early recognition of losses, forward motion, passion versus obsession, love versus logic, defeat versus defense, The National Networker Newsletter, The National Networker Companies, course correction, curbing unnecessary waste, pride and decisionmaking, early intervention, the tradeoff between ego and success, monitoring performance, DonQuixote de la Mancha, Adam J. Kovitz, Twitter, liver and onions, the National Newspicker, Tnnw Buzzworks, GetGlobalEdge, opportunism, minimizing waste...Lingovations!

A Veritable Twitlik Emporium of Links to Visit and Favoritize:
AboutDouglasCastle http://twitlik.com/DC1

Braintenance http://twitlik.com/Braintenance1
Humanitas Maximus http://twitlik.com/HM1
DEC - IEP http://twitlik.com/IEP1
The Internationalist Page http://twitlik.com/Internationalist
The Global Futurist http://twitlik.com/GlobalFuturist
TNNW Weblog http://twitlik.com/Toolkit
TNNW Website http://twitlik.com/TNNWNewsletter
TNNW RSS and Email Feed http://twitlik.com/TNNWFeed
Taking Command! http://twitlik.com/TC

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Thursday, September 03, 2009

MASTERING THE MEMBERSHIP MAZE: Getting Out of Conversations

Mastering the Membership Maze
with Glen Gould

Talk about uncomfortable. Not long ago I was at a networking event and found myself in one of those conversations I wanted out of! You know what I mean, you meet someone and you immediately know that you have nothing in common; all you want to do is move on. But how? What should you do when you find yourself in a conversation you want out of?

After years of experience I can tell you some of the things that don't work.

Don't let your eyes wander away from your conversation partner – you'll get caught by the person you're supposed to be talking to – how embarrassing!

Don't make up a lame excuse – you'll likely say something silly like "I've got to go to the bathroom." Really? This is like asking permission in grade school.

Don't say you're looking for someone else – you might as well say, "hey, you're not very important and I'm looking for someone who is." Ouch!

And of course there's the classic "dump off". You know, you want out of the conversation so you introduce the person to anyone nearby. Would you want that to happen to you?

Of course there are hundreds of other faux pas, but only one correct way. It's incredibly simple yet so rarely used. Here's the script:
"It was nice meeting you." If you've met them before, "It was nice seeing you again." That's it. Shake hands and walk away. Simple right? So why don't we use this technique?

We mistakenly assume we owe others an explanation for our actions. While there are times when this is true, we owe no one an explanation for our style of mingling at a networking event. It comes from our desire to be liked, to be treated fairly, and to please others. We think we owe the person we've meet enough attention to make them feel validated.

But staying in a conversation with another just because we think we should doesn't help anyone. It actually hurts. If you tie someone up in a meaningless conversation they loose the opportunity to engage in a conversation of meaning with someone else.

Just walk away. Say, "It was nice seeing you." It works every time. But beware of your desire to let someone down gently. Don't add anything to the script. You'll be tempted to say, "Maybe we can get together sometime." That just adds expectations that you aren't wanting. Keep it simple. "It was nice meeting you."

An engaging platform speaker and author of four books, Glen Gould is a business growth and relationship specialist who understands business people and how they connect. He helps entrepreneurs and entrepreneurial-minded organizations leverage relationships to
create amazing results.

Glen Gould has worked with Fortune 500 corporations including Allstate, Walmart, Target, Kroger, Kmart, Albertsons, and Publix as well as thousands of small and mid- sized firms. Additionally, Glen works with chambers of commerce and associations throughout the world to help them grow and retain their membership.

Glen Gould
770-435-0781
www.InspirationAgents.com
Inspiring Positive Change

www.IsYourNetworkingWorking.com
Powerful Networking Tools

www.AtlantaCommunityBreakfast.com
Bringing business people together to discuss faith and values in the workplace

For more information, please visit Glen's TNNW Bio.
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Wednesday, September 02, 2009

UNIVERSAL GUIDE TO NETWORKING - You're Already Connected

Universal Guide to Networking with Terry Bean

Connecting people create opportunities.
Opportunities create people connecting.

The good news for you is that you are already connected. In being so, opportunities are already being created by you. Some of them will be for you. Others will be for those you know or are about to.

These connections are more than just the people in your network. They are parts of your universe. And if you want your Universe to be good to you, you have to be good to it.

Every moment we have the chance to do something great. But that only happens when we are aware. Sense the moments that you live and you will instantly note how connected you really are.

Spend some time in any field on a warm sunny day. Do you feel the breeze and
the warmth of the sun? Can you smell the summer air around you (not
recommended for folks near cow pastures or paper mills)? Do you hear the
insects, birds and leaves? Look around you. Do you see to what you are
connected? And since you are, we all are too.

We live in a time where there is an awakening like never before. People are
coming into an awareness that few have always known. This lifting of the veil
will serve mankind like no one ever has. That awakening is when we all realize
werall1.

That oneness, once fully realized will allow us to truly advance as a species.
We will all start pulling the rope in the same direction. We can make life work
for us as opposed to us working for it.

They say that we use less than 8% of our brain. Imagine what we can
accomplish when we double that usage. We won't need to stop there. The great
thing is that all advanced civilizations realize how to work together for the
good of all. We are getting closer to that. All we need to do is make sure we
don't blow ourselves up first.

We are already plugged into the same fabric of being. While I am not sure
whether or not other fabrics simultaneously exist. I can tell you that you are
in my fabric for a reason: so that I can help you. If I do nothing more than
open your eyes to the reality that we are here to be good to one another, than I
have helped not only you but those you encounter.

You are networkers and connectors. Share this message. Please.

Be Connected-

Terry Bean

Terry Bean is the founder of www.motorcityconnect.com, Detroit's fastest growing networking group. He is also the founder of www.networkedinc.com- a business development training firm that focuses on helping people make more productive use of their online and offline networking time. Terry provides training and large scale presentations on networking, social media usage and universal laws. Hot off the press, Terry just released his first CD entitled "The Five U's of Networking" e-mail tbean@networkedinc.com to reserve your copy.

For more information, please visit Terry's TNNW Bio.


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Monday, August 31, 2009

WRITE TO EXCITE: What Is Your Passion?

Write to Excite with Peter Biadasz

In last months article we discussed your talent (You Have A Talent!) If you feel that your talent is writing; an article, email, blog, book, screenplay, poem, etc., then you are in the right place to learn how to write something to either excite yourself or someone else. If you feel you are alone in the desire to write something you are in big company. Studies have shown that 70% of people in the USA want to write a book, but just don’t know how to get started. Working with first time authors keeps me busy. Many times people will say they have and idea and do not know what to do next to develop the idea into a book, etc. Sometime someone will offer that they have written a piece and do not know what to do next. It in these scenarios that I thrive.

I have always heard that you should write what you know and something you have a passion for. Passion is defined by Merriam-Webster as “an intense, driving, or overmastering feeling or conviction, and a strong liking or desire for or devotion to some activity, object, or concept.” Reflect on the things in your life that you are passionate about. Now begin to make a list of them now as you read this article. One of the mistakes that many people make it to write about something that other people are passionate about, thinking they are playing to a certain audience. When you write what you are passionate about the passion comes through in your writings, be it a blog, book or article, rather than a flat writing exercise to please another person. We are raised to write what we are required to do for a grade in school. Now you have the opportunity to write what you want for the reasons that you desire.

After you have listed your passions, rank the list in orders of passion strength and knowledge of each topic. Pick one of the top 3 on your list and start the writing process.

You may not even know what you are going to write; book, article, blog, etc. That is ok. Just start to list all the ideas you have on the topic you have chosen. No idea is too small or too big to list. After you have completed your list of ideas go to the internet, to a book store or library, to see what else on your topic may have been written. By doing this you are not only researching your passion, but identifying what unique perspective you bring to the topic.

Now that you have identified your passion, listed your ideas and performed some research; write an article, blog or book. Be careful to not write and edit at the same time. Writing involves the creative side of the brain while editing involves the other side of the brain. Write the price in its entirety and then go back and edit. By following this process you will find writing less frustrating.
After all, you should enjoy the writing experience. Enjoy the experience!

If you have any questions about this writing process feel free to contact me at the e-mail address listed below.

Peter Biadasz, author of such book as More Leads and Increase Your Sales And Lower Your Golf Score, as well as the newly released Write Your First Book, is President of Total Publishing And Media. To contact Peter about getting your book published feel free to contact him at Peter@TotalPublishingAndMedia.com

For more information, please visit Peter's TNNW Bio.

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The Emergence of The Relationship Economy

The Emergence of The Relationship Economy
The Emergence of the Relationship Economy features TNNWC Founder, Adam J. Kovitz as a contributing author and contains some of his early work on The Laws of Relationship Capital. The book is available in hardcopy and e-book formats. With a forward written by Doc Searls (of Cluetrain Manifesto fame), it is considered a "must read" for anyone responsible for the strategic direction of their business. If you would like to purchase your own copy, please click the image above.

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