The Confidence to Decide: A Case Study

Wow! The confidence to decide. Wouldn’t that be great?

Sometimes the consequences of a decision will bring about major changes; sometimes the impact is barely noticeable. What do you need in order to have the confidence to decide, especially when the future direction of your business hinges on your decision?

Michael Goodman had to make a decision; a big one. He had built a small but growing financial planning division in a mid-size New York City accounting firm. The date for his contract review was fast approaching. The terms he had negotiated regarding equity when he had started a year and a half earlier were no longer acceptable to him. He felt he n0w deserved much more equity because he had built the division from the ground up into a substantial pr0fit center.

Michael’s challenge was to determine the equity percentage he felt was acceptable. The more he thought about it, the higher the percentage became. He knew he was putting his position on the line and he didn’t feel prepared to face the decision. [Read more…]

Secrets to Building a Useful Network

“Networking* has become a small-business buzzword. The beauty of today’s networking is that you can do a lot of it globally–through the Internet.

But it’s not enough to network. You want to build a network that serves your needs.

Start with a plan. Who do you want to meet? Potential new customers, of course, but who else? What about suppliers and providers of services you need? What about a connection to a government agency or educational institution?

Review your operating plan to see what kinds of people might support your goals and open doors for you. Target your networking just like you do your marketing. Ask your existing network if they know anyone who fits your criteria. As you meet new people in networking situations, ask for referrals. Most people enjoy being able to provide useful contacts.

When you meet someone who doesn’t seem to fit into your network, determine if they might be useful to someone else in your network. Being known as a resource for what is needed reinforces your value.
In addition to the obvious exchange of business cards or information, follow up with each new person you meet within three days by sending an e-mail, a hand-written note or a post card. Don’t neglect this step. It strengthens the memory of having met you.

If you think there might be a reason to initiate more personal communication right away, [Read more…]