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Showing posts with label sandra levitin. Show all posts
Showing posts with label sandra levitin. Show all posts

Friday, October 08, 2010

KALÖN WOMEN: Influence: Do You Have Any?


Guest Author: Dickie Sykes

Having worked in a corporate environment for many years and running a department, I know that it is virtually impossible to get anything accomplished without a certain amount of power and influence. Power and influence feed off each other and in most cases the more power you have grants you greater influence over others and the more influence you have garners you more power. Research has found that one of the most important determinants of leader effectiveness is success in influencing people (McFarland, L., Ryan, A., & Kriska, S., 2002). The same tactics that help leaders become influential helps job candidates. Firefighter applicants’ that used soft tactics like rational persuasion and ingratiation were correlated with positive interview ratings (McFarland, L., Ryan, A., & Kriska, S., 2002). Employers often consider leadership skills when selecting applicants for managerial and supervisory positions. Therefore, everyone should learn skills that enhance their ability to influence. The question is how do you attempt to influence others to get them to do what you want them to do?

Social influence involves doing something that affects someone else in one way or another. In business how do you get others to do what you want? Every day, managers confront situations in which they attempt to influence others so that their behavior is consistent with organizational objectives. When I ran a department the tactics I used most often to influence others were inspirational appeals, consultation, rational persuasion and coalition building. I used rational appeal because it is based in logic. When I discussed the logic behind expanding my departmental budget, staff and responsibility, I researched the company’s responsibility as it related to federal EEO laws and where we were falling short; in addition to, the changing demographics and ethnicities of our labor and vendor pool and what we needed to do to meet our corporate goals and objectives. The logic was there in black and white; therefore, I used rational persuasion to make my point.

When you go on your next job interview or have a business presentation use rational appeal as it is based in logic. Before you arrive, know where the company is falling short (you must do your homework) and provide them with solutions. At this point, you’re in big picture mode and don’t have to provide them with explicit details but have some just in case. If the company asks you to go into more detail, bam, you’ll know you have their interest. This is the perfect opportunity to plant the seeds for your next interview. Why does this approach work? It is logic that can’t be denied. Within your logical appeal, insert an inspirational story that meets with your target audience’s values and ideals. When I mixed rational persuasion with my inspirational spin (I can sound like a Southern preacher) it was a powerful mix.

Keep your focus on what’s best for the company; if you’re excellent at what you do, there will be plenty of opportunities later to express your wants and desires based on the value you brought to the company. Right now, let’s get you hired. During the interview process, have a laser sharp focus on what’s best for the company. Package and express your transferable skills in a way that meets with what the company's needs (greater revenue, sales, clients, customers; improved brand, better PR; you get the point) what their looking for (the job description) and what you bring to the table (quantifiable skills, success). I kept my focus on my previous employer’s brand, image and EEO laws. I ensured our reputation remained positive and influential within the communities where we conducted business and that we adhered to federal EEO rules, regulations and guidelines. I sought the support of others and brought high profile people to the organization which afforded me a larger budget and expanded my influence. Two additional influential tactics that can be used during the interview process is ingratiation and coalition- building with a twist.

Find out as much as you can about the company and the interviewer and ingratiate yourself to the interviewer. Ingratiation is getting a target person to do what you want by putting him or her in a good mood or be getting him or her to like you. No matter how smart you think you are, I know we all think we’re geniuses but people still hire who they like and trust and that will never change. Coalition-building during the interview process is letting the interviewer know the type of network or coalition you have in-place and can bring to them. Everyone is drawn to power, to influence, so if you have a network of great relationships, drop a couple of names within your inspirational story. Don’t overdo it and sound rude, arrogant or cocky; sound self assured and proud of the professional network you’ve been able to create. Sound confident in the coalition and team builder that you are. It’s a delicate but doable balance.

The power I began to have to influence others came from several sources: my position automatically gave me a certain amount of credibility and influence and following a few techniques which I’ve described here such as rational persuasion, inspirational appeal, ingratiation and coalition-building. Whether job interviewing or delivering a business presentation or seeking a raise, include a few influential techniques in your career toolbox.

Dickie Sykes is the President of DGS Consulting LLC. To learn more about the company log onto www.dgsconsultingllc.com or contact them at sales@dgsconsultingllc.com or 404 567-5790.

References: McFarland, L., Ryan, A., & Kriska, S. (2002). Field Study Investigation of Applicant Use of Influence Tactics in a Selection Interview. Journal of Psychology, 136(4), 383. Retrieved from Business Source Complete database.


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Friday, October 01, 2010

KALÖN WOMEN: Common IRA Mistakes


Guest Author: Ronit Rogoszinski

In the last two months we discussed living within your means and the different strategies you can employ to help you achieve your financial goals. One of the most asked about goals is saving for and preserving retirement savings. Today I will review the 5 most common mistakes I’ve seen clients make in setting up their retirement savings accounts and the eventual transfer of those assets upon their death.

Failing to Complete an Indirect Rollover Within 60 days
You have only 60 days to redeposit funds withdrawn from a retirement plan, including amounts withheld for taxes, to another qualified retirement plan or risk losing the tax deferred status of the investment. What that means is that if you are to “move” your IRA, for example, from one bank to another bank’s IRA, a DIRECT rollover means the account owner requests that the custodian of the receiving account “collect” the funds from the institution currently holding the account. This is also referred to as Trustee to Trustee transfer. The INDIRECT transfer means that the individual personally transfers the funds from the qualified account in one institution to another qualified account at a different institution, usually in the form of a check payable to the IRA owner. If the funds aren’t deposited in the new institution within 60 days of the distribution date, taxes and any associated penalties will be due.

Suggestion: Whenever possible choose DIRECT rollover or transfer between the two institutions.

Spousal Continuation Mistakes

• When one of the spouses passes away, the surviving spouse has the option to treat her late husband’s IRA as her own, or roll the IRA over into her own IRA. Sometimes that may not be the best option.

  • When the surviving spouse is under 59½ and needs income, there is no 10% penalty on distributions from the IRA kept in the deceased spouse’s IRA.
  • When the surviving spouse is older than 70½, doesn’t need income now, and her late husband was younger than 70½, she may keep his IRA in his name. This will allow her to delay mandatory distributions from his IRA until the deceased spouse would have turned 70 ½ had he not died.
  • Finally, (please confirm this with your accountant), if the applicable federal estate tax exemption has not been fully used, the surviving spouse may want to “disclaim” rights to a portion of the IRA up to the amount of the applicable exemption.
Suggestion: Consider all possibilities before you choose how to take over your deceased spouse’s retirement savings. Once the decision is made it cannot be reversed.

Failing to Name a Beneficiary

Whatever you do, don’t make this mistake!! Unlike many other properties, IRA’s don’t pass by a will; they pass according to the terms of the IRA Beneficiary Designation Form. Therefore, this document could be one of the most important estate planning documents. Here’s what can happen if you overlook it or neglect it over time:
  • The default beneficiary will generally be the owner’s estate.
  • This most probably will cause the loss of the “stretch” option and spousal continuation options discussed previously.
  • The distribution will have to be done lump sum or within five years after the death of the owner. Note – if the IRA owner was older than 70½ when he passed away, the estate may continue to take distributions over his life expectancy as if he had not died.
  • This may also cause the IRA to have to be probated which adds cost, consumption of time and a public process, all which could be avoided by an updated Beneficiary Designation Form.
  • Income tax rates are usually higher when IRA’s are paid to an estate, costing additional dollar lose to the account’s value.
Suggestion: Name a beneficiary on your IRA account! You should also name a contingent beneficiary in case the beneficiary predeceases the owner; this ensures that the IRA assets don’t pass to the estate and ultimate probate.
Failing to REVIEW and UPDATE Beneficiary Designation Forms

As we just discussed, the named beneficiary on the designation form is entitled to the assets of the IRA. Therefore, you need to review the designation form at least annually or upon life events such as birth or adoption of a child, marriage, divorce or death of a family member. Not reviewing and updating the document could lead to an unintended member of your family inheriting your assets upon your death. Also, please note that if your grandchildren are named as beneficiaries, make sure the value of the IRA and any other assets passing to the grandchild do not exceed the applicable generation-skipping transfer tax. To the extent that it does, there could be additional taxes due. Please consult with your tax advisor.

Suggestion: Set up a reminder to review beneficiary designation form annually and update according to changing circumstances in your life. This will ensure unintended beneficiaries from inheriting your IRA’s.

Beneficiaries Fail to “Stretch” the IRA

Should a beneficiary liquidate the inherited IRA too quickly, it could result in immediate taxes due and prevent the assets of the IRA to provide possible long term income. The stretch feature of an inherited IRA has certain advantages:
  • Beneficiaries may spread tax liability over their lifetime.
  • The undistributed IRA assets will continue to be invested in a tax deferred manner, even as distributions are occurring each year.
  • Additional IRA assets can be accessed as needed.
Suggestion: If maximizing the stretch feature is important to you make sure the beneficiaries know the rule and explore the option before taking possession of the IRA’s assets.

There are additional issues to be reviewed and discussed regarding IRA's. You will have to tune in next month to learn about the next group of mistakes IRA owners make in setting up, managing and ultimately passing their retirement assets on to their heirs.

Ronit Rogoszinski has been helping individuals and professionals understand the world of finance and wise personal money management for over twenty years.

A graduate of Queens College’s Scholars Program, Ronit holds FINRA Series 7 and 66 registrations through LPL Financial and is New York State certified in Long Term Care Insurance. As the proud mother of four children, Ronit understands firsthand the demands we all have in our fast paced lives. Yet her calm, personal and relaxed nature help to put her clients at ease while remaining focused on the job at hand – realizing and bringing them closer to their financial goals.


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Thursday, September 09, 2010

KALÖN WOMEN: Re-Evaluate. Re-Assess. Re-Discover. Re-Invent.


Guest Columnist: Masha Gitel Ellman

It’s time to re-evaluate, re-assess, re-discover, re-invent - YOU. It’s time to take a fresh look at where you are within your resolutions. You remember, those promises you made to yourself at the beginning of 2010. It’s time to remember, reinforce, reorganize, restructure, breath, review and recommit anew.

We make those lists, visions that we have for ourselves of - this year I’m going to…this year I will be…this year I’m definitely…and we make those lists with all good intentions. But, mostly as the days and weeks and months go by, all those good intentions fall by the wayside as our daily lives take over and we are totally immersed inside our everyday routines. What starts off as this year I’m definitely…somehow quickly dissipates into thin air.

It hit me the other day when I got home from the mall that oh my God I’m already looking for Christmas presents. Half the year is gone and I thought - which of my resolutions am I still committed to? Which ones can I check off and be proud of myself that I’m actually keeping alive? Which ones have I let go and don’t even remember and which ones do I need to change?

Every resolution that I have kept my promise to, that I am working towards seeing it accomplished, makes me feel proud of myself. With every step I take, I gain self-confidence, I am empowered to go on and not give up keeping my vision alive.

I asked myself what do I need to do to meet my resolutions at the end of 2010 and say, YES, I’VE DONE IT. I’M AMAZING!!!!!!!!!!!!!

By now maybe not all the resolutions you had hoped for still apply. Take time to:

Re-evaluate. Bring out your list and look it over. Don’t rely on a mental list. Writing down your resolutions makes you more committed to them, they seem more real and tangible. Ask yourself if this is a realistic goal. Is it something you really still want? If yes, create a plan towards your accomplishment.

Re-assess. A resolution is an act of determination; it’s an opinion, a will, intent.
How much will have you invested in your success? Identify the obstacles that are keeping you from achieving and take action towards removing those obstacles.
Have you set habits that support your resolution? If it seems unreachable, take smaller steps towards its fruition.

Re-discover. Be totally mindful in every moment. Have you buried yourself underneath driving kids to their activities, running errands, working? Have you allowed all of your daily demands to crush your spirit? Set your mind to re-discover the inner you. That part of you that is longing for more. That part of you that prompted you towards making those resolutions in the first place.

Re-invent. Don’t let your flame go out; ignite your vision, your life. Let go of your insecurities and embrace your possibilities. There is no resolution you cannot accomplish with perseverance, commitment, love, passion and a look towards God. If you don’t like where you are, re-invent, change, and choose anew. Your life is yours, and the power is yours.

Think of how you’ll feel on the last day of 2010. Accomplishing even one resolution that you set at the beginning of the year is all up to you. Remember this is YOUR LIFE. Get fired up. Explode. Rejoin yourself. Release yourself into your greatness. You are the choice maker. You are the goal setter and accomplisher. So, Re-energize. Re-program. Re-think. This is YOUR MOMENT TO SHINE.


Masha Gitel Ellman
is the Practice Administrator for the Southwest Eye Institute and the Vista Surgery Center in El Paso , Texas . The daughter of Holocaust Survivors, she arrived in the United States at the age of 14, after living in Germany , Israel and then Colombia . At the age of fifty years old Masha had a revelation and found God within herself. Masha is passionate about sharing with others how to have a more fabulous life. A spiritual/inspirational writer, lecturer and coach, Masha can be reached at MashaEllman@yahoo.com


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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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