Thinking Ahead Journal: 28th February 2010 by Gihan Perera

L me

Ideas and Insights from the First Step Member Community www.first-step-community.info 28th February 2010

Thinking Ahead is a collection of blog posts from members of the First Step Member Community. Each contributing author retains their copyright for their individual content. The material contained in this publication is general and is not intended as advice on any particular matter. The authors expressly disclaim all and any liability to any persons whatsoever in respect of anything done by any such person in reliance, whether in whole or in part, on this publication.

)HEUXDU\

7hinking AheaG www.first-step-community.info

0$77 +(51Â¶6 021(< *8,'(

7KH ( P\WK

7KH PXVW UHDG ERRN IRU DVSLULQJ HQWUHSUHQHXUV

7KH Âµ( P\WKÂ¶ LV WKH P\WK RI WKH HQWUHSUHQHXU *HUEHU GHVFULEHV LW EHVW $W WKH KHDUW RI WKH H P\WK LV ÂµWKH IDWDO DVVXPSWLRQÂ¶ WKDW LI \RX XQGHUVWDQG WKH WHFKQLFDO ZRUN RI D EXVLQHVV \RX XQGHUVWDQG D EXVLQHVV WKDW GRHV WKDW WHFKQLFDO ZRUN $QG WKH UHDVRQ LW LV IDWDO LV WKDW LW MXVW LVQÂ¶W WUXH

)(% 3 0 2YHU KDOI WKH SHRSOH , VSHDN WR SURIHVVLRQDOO\ OLVW Â³VHOI HPSOR\PHQWÂ´ DV RQH RI WKHLU OLIH JRDOV 7KLV FDQ WDNH PDQ\ IRUPV LQFOXGLQJ

%XW WKH WHFKQLFLDQ ZKR VWDUWV D EXVLQHVV IDLOV WR VHH WKLV Â&#x2021; 7UDGHVSHRSOH ZDQWLQJ WR JR RXW RQ WKHLU RZQ 7KH UHDO WUDJHG\ LV WKDW ZKHQ WKH WHFKQLFLDQ IDOOV SUH\ WR WKH )DWDO $VVXPSWLRQ WKH EXVLQHVV WKDW ZDV VXSSRVHG WR IUHH KLP IRUP WKH OLPLWDWLRQV RI ZRUNLQJ IRU VRPHERG\ HOVH DFWXDOO\ HQVODYHV KLP

Â&#x2021; 3URIHVVLRQDOV ZDQWLQJ WR VWDUW WKHLU RZQ FRQVXOWLQJ EXVLQHVV Â&#x2021; 7KRVH ZDQWLQJ WR VWDUW D EXVLQHVV WR SXUVXH WKHLU SDVVLRQV H J WR RSHQ D UHVWDXUDQW

6HOI HPSOR\PHQW HQVODYHV PDQ\ UDWKHU WKDQ IUHHV WKHP Â&#x2021; $QG WKRVH ZKR EHOLHYH WKDW RZQLQJ WKHLU RZQ EXVLQHVV LV WKH RQO\ ZD\ WR JHW ULFK

1RZ LWÂ¶V QRW P\ LQWHQWLRQ WR WXUQ \RX RII JRLQJ LQWR EXVLQHVV , GR DJUHH WKDW PDQ\ RI WKH ZHDOWKLHVW SHRSOH DFKLHYHG WKHLU ZHDOWK E\ FRQFHQWUDWLQJ WKHLU ULVN DQG LQYHVWLQJ LQ WKHLU RZQ EXVLQHVV , ZDQW \RX WR HPEDUN RQ WKDW SDUW RI \RXU MRXUQH\ ZLWK \RXU H\HV DV ZLGH RSHQ DV SRVVLEOH WR WKH UHDOLWLHV RI EHLQJ LQ EXVLQHVV 7KDW LV ZKDW *HUEHU GRHV LQ Â³7KH ( P\WKÂ´ ,QVLGH 7KH ( P\WK 5HYLVLWHG 7KH ( P\WK 5HYLVLWHG LV ZULWWHQ ZLWK D EOHQG RI WUDGLWLRQDO QRQ ILFWLRQ WH[W DQG SDUDEOH *HUEHU LOOXVWUDWHV KLV SRLQWV WKURXJK WKH VWRU\ RI KLV FOLHQW 6DUDK DQG KHU EXVLQHVV Â³$OO $ERXW 3LHV Â´ 7KLV LV D PDVWHU VWURNH LQ JHWWLQJ WKH PHVVDJH DFURVV DV 6DUDK H[SHULHQFHV DQG H[SUHVVHV PDQ\ RI WKH HPRWLRQV DQG TXHVWLRQV WKDW \RX GR DV \RX UHDG WKH WH[W ,I \RXÂ¶YH FRPH DFURVV 7KH ( P\WK DIWHU VWDUWLQJ \RXU EXVLQHVV WKHQ \RX ZLOO OLNHO\ UHODWH WR 6DUDKÂ¶V SUHGLFDPHQW 1R PDWWHU KRZ UDZ LW IHHOV VWLFN ZLWK LW DV , SURPLVH \RX WKDW WKH ERRNV DOVR EULQJV KRSH

,I \RX WRR GUHDP RI JRLQJ RXW RQ \RXU RZQ RU VWDUWLQJ D EXVLQHVV WKHQ , VWURQJO\ UHFRPPHQG WKDW \RX UHDG Â³7KH ( P\WK 5HYLVLWHGÂ´ E\ 0LFKDO ( *HUEHU EHIRUH \RX TXLW \RXU MRE

3DUW 2QH RI WKH ERRN LV HVVHQWLDO UHDGLQJ IRU WKH DVSLULQJ VHOI HPSOR\HG SHUVRQ DV \RX JHW DQ RYHUYLHZ RI WKH SKDVHV RI EXVLQHVV DQG VRPH RI WKH HVVHQWLDO UROHV 2QH LPSRUWDQW GLVWLQFWLRQ WR JUDVS LV WKH GLIIHUHQFH EHWZHHQ

2U LI \RX NQRZ VRPHRQH ZKR KDV WKH VHOI HPSOR\PHQW JRDO WKHQ SOHDVH GR WKHP D KXJH IULHQGO\ IDYRXU DQG IRUZDUG WKLV DUWLFOH WR WKHP QRZ 3UHIHUDEO\ \RX QHHG WR UHDG 7KH ( P\WK EHIRUH \RX VXFFXPE WR ZKDW *HUEHU FDOOV ÂµWKH (QWUHSUHQHXULDO 6HL]XUHÂ¶ 7KDWÂ¶V WKH SRLQW ZKHUH VRPHWKLQJ LQVLGH \RXU KHDG UHVRXQGLQJO\ GHFODUHV Â³, FRXOG GR WKLV IRU P\VHOIÂ¶ DQG IURP WKDW SRLQW RQ \RXU ZRUOG LV QRW WKH VDPH

Â&#x2021; 7KH (QWUHSUHQHXU Â&#x2021; 7KH 0DQDJHU Â&#x2021; 7KH 7HFKQLFLDQ

)HEUXDU\

www.first-step-community.info

$QG WR UHDOLVH WKDW HYHU\RQH ZKR JRHV LQWR EXVLQHVV LV DFWXDOO\ WKH WKUHH UROHV LQ RQH %XW WKH WUDS LV WKDW \RX VWDUW E\ RSHUDWLQJ WRR PXFK LQ WKH WHFKQLFLDQ UROH DQG QHJOHFW WKH LPSRUWDQW IXQFWLRQV RI WKH RWKHU WZR

EX\HUV Â&#x2021; 0RUH WLPH IRU \RX LQ WKH RWKHU UROHV LQ \RXU OLIH 3OXV \RXU WLPH LQ

UROHV <HW ZLWKRXW FRPSOHWLQJ WKH IXQFWLRQ RI DOO WKUHH UROHV WKH WHFKQLFLDQ EHFRPHV VWUHVVHG DQG HQVODYHG DV PHQWLRQHG HDUOLHU

WKH EXVLQHVV ZLOO EH PRUH HQMR\DEOH (QMR\LQJ EHLQJ LQ EXVLQHVV DQG WKHQ HDVLO\ VHOOLQJ LW IRU D EXFNHW ORDG RI FDVK VHHPV WR EH WKH DLP RI PRVW DVSLULQJ HQWUHSUHQHXUV 6R UHVLVW WKH WHPSWDWLRQ WR GLVPLVV WKLV VHFWLRQ MXVW EHFDXVH \RX FDQÂ¶W LPDJLQH \RXUVHOI DV D 0F'RQDOGV

$IWHU UHDGLQJ SDUW RQH SDXVH IRU UHIOHFWLRQ DQG WDNH D JRRG KDUG ORRN DW \RXU VLWXDWLRQ DQG PRWLYHV $UH \RX WUXO\ ZLOOLQJ WR GR ZKDW LW ZLOO WDNH WR EH VXFFHVVIXO"

7KH HVVHQWLDO EXVLQHVV H\H RSHQHU <RXU 3ULPDU\ $LP 6HOI HPSOR\PHQW DQG D EXVLQHVV FDQ EH H[WUHPHO\ UHZDUGLQJ ERWK SHUVRQDOO\ DQG ILQDQFLDOO\ 6DGO\ IRU PRVW LW LV QRW %XVLQHVVHV FDQ EXUQ WKURXJK \RXU KDUG HDUQHG DVVHWV DQG VWUDLQ \RXU UHODWLRQVKLSV WR EUHDNLQJ SRLQW <RX FDQ HQG XS LQ D SODFH \RX QHYHU ZDQWHG WR EH DQG GRQÂ¶W NQRZ KRZ WR JHW RXW RI $VN 6DUDK

<RX PD\ KDYH KHDUG RI VHOI HPSOR\HG SHRSOH WKDW WKHLU EXVLQHVV LV WKHLU OLIH 7KH WUXWK LV WKDW D VXFFHVVIXO EXVLQHVV LV QRW \RXU OLIH WKRXJK LW FDQ SOD\ D VLJQLILFDQWO\ LPSRUWDQW UROH LQ \RXU OLIH <RX QHHG WR GHFLGH ZKDW UROH WKDW ZLOO EH E\ FRQVLGHULQJ ZKDW *HUEHU UHIHUV WR DV \RXU SULPDU\ DLP 7R PH WKLV FKDSWHU RI WKH ERRN LV JROG ,Q RQH VHQVH \RX UHDOO\ VKRXOG VWDUW KHUH %XW ZLWKRXW KDYLQJ UHDG WKH HDUOLHU VHFWLRQV \RX PD\ EH WRR GLVPLVVLYH DQG IOLSSDQW LQ \RXU DQVZHUV

(YHQ LI RZQLQJ \RXU RZQ EXVLQHVV LV MXVW D VSHFN RQ WKH KRUL]RQ , VWURQJO\ UHFRPPHQG \RX SURPSWO\ EX\ DQG UHDG Â³7KH ( P\WK 5HYLVLWHGÂ´ E\ 0LFKDO ( *HUEHU

7R GLVFRYHU \RXU SULPDU\ DLP *HUEHU VXJJHVWV \RX DVN \RXUVHOI WKHVH TXHVWLRQV

1R UHODWHG SRVWV

62 :+$7Â¶6 1(;7"

Â&#x2021; :KDW GR , YDOXH PRVW"

7KH :LVGRP 0DQLIHVWR E\ 8PDLU +DTXH

Â&#x2021; :KDW NLQG RI OLIH GR , ZDQW" Â&#x2021; :KDW GR , ZDQW P\ OLIH WR ORRN OLNH WR IHHO OLNH"

)(% 3 0 Â&#x2021; :KR GR , ZLVK WR EH" ,Q P\ ODVW SRVW , VKDUHG ZLWK \RX VRPH RI WKH ZLVGRP RI 8PDLU +DTXH :HOO LW LV YHU\ KDUG WR EHDW KLV ZLVGRP PDQLIHVWR ,W SURYHV WR PH WKDW EHLQJ FRPHV EHIRUH GRLQJ

7KRVH ZKR KDYH ZRUNHG FORVHO\ ZLWK PH PD\ QRW EH VXUSULVHG WKDW , FRQVLGHU WKLV FKDSWHU WR EH JROG DV LW PLUURUV P\ DSSURDFK WR ILQDQFLDO SODQQLQJ 7KH ZKROH SXUSRVH RI D EXVLQHVV DQG RI FUHDWLQJ ZHDOWK LV WR IDFLOLWDWH WKH OLIH WKDW \RX ZDQW 6R ILUVW \RX PXVW VWDUW E\ GHILQLQJ ZKDW LV PRVW LPSRUWDQW WR \RX ,I KDYLQJ UHIOHFWHG RQ \RXU SULPDU\ DLP \RX GHFLGH \RXU EXVLQHVV DVSLUDWLRQV DUH IRU WKH ULJKW UHDVRQV WKHQ UHDG IXUWKHU LQWR WKH ERRN WR OHDUQ ZKDW D VXFFHVVIXO EXVLQHVV QHHGV WR ORRN OLNH

%H UHPDUNDEOH ,DQ )RXQGHU 'LIIHUHQFHPDNHUV &RPPXQLW\ 6LJQ XS KHUH IRU D OHDVW RQH IUHH UHVRXUFH SHU PRQWK DQG WR JHW \RXU FRPSOLPHQWDU\ FRS\ RI P\ HERRN 'LIIHUHQFHPDNHUV KRZ GRLQJ JRRG LV JUHDW IRU EXVLQHVV

<RXU 7XUQ NH\ 2SHUDWLRQ Â± 7KH )UDQFKLVH 3URWRW\SH

GRLQJ WRGD\ ZKDW RWKHUV ZLOO RQO\ EH WKLQNLQJ DERXW WRPRUURZ

2QH RI WKH ELJ LGHDV LQ Â³7KH ( P\WKÂ´ LV WKDW HYHU\ EXVLQHVV FDQ DLP WR EH WXUQ NH\ DQG RSHUDWH LQ D PHWKRGLFDO UHSHDWDEOH ZD\ OLNH WKH VXFFHVVIXO IUDQFKLVHV VXFK DV 0F'RQDOGV :KLOVW PDQ\ HQWUHSUHQHXUV PD\ QRW HYHU SODQ WR IUDQFKLVH WKH\ FDQ VWLOO RSHUDWH WKHLU EXVLQHVV DV LI LW ZHUH WKH SURWRW\SH IRU D IUDQFKLVH 7KH SD\ RII IRU FUHDWLQJ D WXUQ NH\ RSHUDWLRQ LQFOXGHV Â&#x2021; &UHDWLQJ D UHDO H[LW VWUDWHJ\ $ ZHOO UXQ EXVLQHVV WKDW ZLOO FRQWLQXH WR RSHUDWH VPRRWKO\ DQG SURILWDEO\ DIWHU VDOH LV YHU\ DWWUDFWLYH WR

)HEUXDU\

www.first-step-community.info

*,+$1 3(5(5$

UHFRYHU\

,V $YDWDU MXVW WKH VDPH DV 3RFDKRQWDV"

/,)(/21* ),71(66

6WUHQJWK KHOSV \RX UHPHPEHU

)(% 3 0

)(% $ 0 ,Â¶YH KHDUG SHRSOH VD\ WKDW SHUKDSV WKHUHÂ¶V RQO\ RQH UHDO SORW LQ DOO FODVVLF VWRULHV DQG LWÂ¶V MXVW WKH QDPHV DQG SODFHV WKDW FKDQJH +HUHÂ¶V DQ LQWHUHVWLQJ DQG DPXVLQJ FRPSDULVRQ WKDWÂ¶V EHHQ GRLQJ WKH URXQGV UHFHQWO\ FRPSDULQJ WKH EORFNEXVWHU PRYLH $YDWDU DQG WKH HDUOLHU 'LVQH\

:KHQ , ZRUNHG LQ WKH $JHG &DUH LQGXVWU\ SURPRWLQJ DFWLYLW\ DQG ILWQHVV WR WKH ÂµROGLHV Â¶ , UHPHPEHU VD\LQJ WR SHRSOH WKDW LI RQO\ ZH KDG SURRI WKDW H[HUFLVH SUHYHQWHG GHPHQWLD WKHQ HYHU\ERG\ ZRXOG EH PRWLYDWHG WR H[HUFLVH

PRYLH 3RFDKRQWDV ZKLFK RI FRXUVH ZDVQÂ¶W RULJLQDO HLWKHU

*LYHQ WKDW JHWWLQJ $O]KHLPHUÂ¶V RU GHPHQWLD ZDV WKH JUHDWHVW IHDU RI PRVW SHRSOH DERXW JHWWLQJ ROGHU LW VHHPHG OLNH D UHDVRQDEOH DVVXPSWLRQ $O]KHLPHUÂ¶V GLVHDVH WKH PRVW FRPPRQ IRUP RI GHPHQWLD FDXVHV D SURJUHVVLYH ORVV RI PHPRU\ DQG WKLQNLQJ DELOLW\ ,W LV DOVR NQRZQ WR EH

*,+$1 3(5(5$

%H WKH &HQWUH RI <RXU 7ULEH

DVVRFLDWHG ZLWK V\PSWRPV VXFK DV DQ LPSDLUHG JDLW GHSUHVVLRQ DQG D ZHDNHQHG JULS

)(% 3 0 7KH ZRUOG LV FKDQJLQJ WR EH DERXW FRPPXQLW\ QRW DXWKRULW\ YLOODJHV QRW LVODQGV FROODERUDWLRQ QRW KLHUDUFK\

:HOO WKHUH LV QHZ HYLGHQFH FRPLQJ RXW HYHU\ GD\ OLQNLQJ SRRU ILWQHVV WR LQFUHDVHG ULVN RI PHPRU\ ORVV DQG FRJQLWLYH LPSDLUPHQW ,Q D UHFHQW VWXG\ UHVHDUFKHUV IRXQG WKDW ZHDN PXVFOHV DUH FORVHO\ OLQNHG WR $O]KHLPHUÂ¶V GLVHDVH LQ ROGHU DGXOWV

03 )LOH

127(6 )520 7+( :25.3/$&( *$5'(1

5HVHDUFKHUV DW 5XVK 8QLYHUVLW\ 0HGLFDO &HQWHU LQ &KLFDJR VWXGLHG DGXOWV ZLWK DQ DYHUDJH DJH RI DURXQG ZKR GLG QRW LQLWLDOO\ KDYH $O]KHLPHUÂ¶V (DFK ZDV UDWHG IRU PHQWDO IXQFWLRQ DQG JLYHQ D SK\VLFDO VWUHQJWK VFRUH GHULYHG IURP WHVWLQJ PXVFOH JURXSV

$IWHU WKH VWRUP

7KH 86 UHVHDUFK VKRZHG D SDWWHUQ RI UHGXFHG $O]KHLPHUÂ¶V ULVN ZLWK

)(% $ 0

LQFUHDVLQJ PXVFOH VWUHQJWK 7KH VWURQJHVW SDWLHQWV KDG OHVV FKDQFH RI GHYHORSLQJ WKH GLVHDVH WKDQ WKH ZHDNHVW

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

6XEMHFWV XQGHUZHQW DW OHDVW RQH IXUWKHU HYDOXDWLRQ RYHU DQ DYHUDJH IROORZ XS SHULRG RI \HDUV 2I WKH WRWDO SDUWLFLSDQWV ZHQW RQ WR GHYHORS $O]KHLPHUÂ¶V 0XVFOH VWUHQJWK VFRUHV UDQJHG IURP PLQXV WR XQLWV (YHU\ XQLW LQFUHDVH LQ LQLWLDO PXVFOH VWUHQJWK FRUUHODWHG ZLWK D UHGXFWLRQ LQ WKH ULVN RI GHYHORSLQJ $O]KHLPHUÂ¶V GXULQJ WKH VWXG\ SHULRG 3DUWLFLSDQWV LQ WKH WRS RI PXVFOH VWUHQJWK VFRUHV ZHUH OHVV DW ULVN RI $O]KHLPHUÂ¶V WKDQ WKRVH LQ WKH ERWWRP 0XVFOH VWUHQJWK ZDV DOVR DVVRFLDWHG ZLWK PLOG FRJQLWLYH LPSDLUPHQW WKDW PD\ EH DQ HDUO\ VLJQ

$W ZRUN DQ XQH[SHFWHG VWRUP FRXOG EH D ZRUNSODFH DFFLGHQW WKH GHDWK RI

RI $O]KHLPHUÂ¶V

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

:KLOH QR UHDVRQ IRU WKH DVVRFLDWLRQ ZDV GHWHUPLQHG LQ WKLV VWXG\ WKH UHVHDUFKHUV EHOLHYH LW FRXOG LQYROYH HQHUJ\ SURGXFWLRQ LQ WKH ERG\ 5HJDUGOHVV RI WKH DFWXDO PHFKDQLVP OLQNLQJ PXVFOH VWUHQJWK DQG FRJQLWLYH DELOLWLHV WKLV UHVHDUFK VKRXOG ERRVW \RXU PRWLYDWLRQ WR DGG VWUHQJWK WUDLQLQJ WR \RXU H[HUFLVH URXWLQH 0DQ\ SHRSOH DUH GLVFLSOLQHG DERXW DHURELF H[HUFLVH WKRXJK XQIRUWXQDWHO\ QRW HQRXJK EXW VWUHQJWK LV RIWHQ IRUJRWWHQ EHFDXVH SHRSOH WKLQN LW KDV WR LQYROYH OLIWLQJ KHDY\

)HEUXDU\

www.first-step-community.info

ZHLJKW LV D J\P

$11 52/)(¶6 0(1725,1* :25.6 %/2*

(YDOXDWLQJ 0HQWRULQJ 3URJUDPV :HELQDU

:KLOH D J\P PLJKW EH DQ HIILFLHQW ZD\ WR GR VWUHQJWK WUDLQLQJ WKHUH DUH DOWHUQDWLYHV WKDW FDQ EH GRQH DQ\ZKHUH ,W MXVW WDNHV VRPH GLVFLSOLQH DQG LPDJLQDWLRQ

)(% 3 0 *,+$1 3(5(5$

-RLQ PH IRU D ZHELQDU

8VH &DVH 6WXGLHV WR %XLOG 7UXVW DQG )DFLOLWDWH 6DOHV

0DUFK DW DP $('7 7RSLF (YDOXDWLQJ 0HQWRULQJ 3URJUDPV &RVW $8' IUHH WR 0HQWRULQJ 1HWZRUN 2QOLQH PHPEHUV

)(% 3 0 3URVSHFWV DUH DOZD\V DVNLQJ WKH TXHVWLRQ ³:K\ \RX"´ ZKHQ GHFLGLQJ ZKHWKHU WR HQJDJH \RXU VHUYLFHV $OWKRXJK \RX FDQ VD\ DV PXFK DV \RX OLNH DERXW \RXUVHOI VRPHWLPHV LW¶V QRW QHDUO\ DV HQJDJLQJ DV D FDVH VWXG\

'HWDLOV

HVSHFLDOO\ LI LW¶V VRPHERG\ MXVW OLNH WKH SURVSHFW :KDW UHWXUQ RQ LQYHVWPHQW FDQ UHDVRQDEO\ EH H[SHFWHG IURP PHQWRULQJ"

7KH 5DLQ 7RGD\ VLWH UHFHQWO\ SXEOLVKHG D SRGFDVW LQWHUYLHZLQJ &DVH\ +LEEDUG DXWKRU RI ³6WRULHV WKDW 6HOO 7XUQ 6DWLVILHG &XVWRPHUV LQWR <RXU 0RVW 3RZHUIXO 6DOHV DQG 0DUNHWLQJ $VVHW´ DERXW WKH HIIHFWLYH XVH RI FDVH VWXGLHV $Q H[FHOOHQW LQWHUYLHZ LI \RX ZDQW WR DGG PRUH FUHGLELOLW\ WR

+RZ GR \RX NQRZ PHQWRULQJ KDV DQ LPSDFW RQ WKH RUJDQLVDWLRQDO ERWWRP OLQH"

\RXU VDOHV SURFHVV &DQ \RX SXW ³KDUG´ PHDVXUHV RQ ³VRIW´ YDOXHV" :KDW DQG KRZ FDQ \RX HYDOXDWH" -867 $ &219(56$7,21

'LIILFXOW &RQYHUVDWLRQV )(% $ 0

7KLV ZHELQDU SURYLGHV DQ RSSRUWXQLW\ WR H[SORUH LVVXHV ZLWK \RXU SHHUV DQG JDLQ LQSXW IURP PHQWRULQJ VSHFLDOLVW $QQ 5ROIH

:K\ GR ZH FRPSOLFDWH PDWWHUV ZKHQ D VLPSOH FRQYHUVDWLRQ PLJKW EH DOO WKDW LW WDNHV" 5REHUW *HUULVK IURP )O\LQJ 6ROR DVNV +XJK WR H[SODLQ KRZ WR DYRLG PLVXQGHUVWDQGLQJV GXULQJ FRQYHUVDWLRQV

5(*,67(5 12:

5HPHPEHU 6XFFHVV LV -XVW D FRQYHUVDWLRQ ZZZ MXVWDFRQYHUVDWLRQ FRP

)HEUXDU\

www.first-step-community.info

62 :+$7Â¶6 1(;7"

*,+$1 3(5(5$

'RLQJ ZKDW ZH DUH FDSDEOH RI ZLWK WKDQNV WR *DQGKL DQG +DTXH

9DO -RQHVÂ¶ HQJDJLQJ SUHVHQWLQJ FRPELQLQJ 3HFKD .XFKD DQG OLPHULFNV

)(% 3 0

7KH GLIIHUHQFH EHWZHHQ ZKDW ZH GR DQG ZKDW ZH DUH FDSDEOH RI GRLQJ VDLG 0DKDWPD *DQGKL ZRXOG VXIILFH WR VROYH PRVW RI WKH ZRUOGÂ¶V SUREOHPV

3UHVHQWDWLRQV DW PHGLFDO FRQIHUHQFHV FDQ EH GXOO ERULQJ DQG KLJKO\ WHFKQLFDO ,Q FRQWUDVW 9DO -RQHV LV D EUHDWK RI IUHVK DLU +HU VHYHQ PLQXWH SUHVHQWDWLRQ Â³$ 7DOH RI 7ZR H 3DWLHQWVÂ´ ZLWK D VHULRXV PHVVDJH DERXW WKH GDQJHUV RI UHO\LQJ RQ MXQN PHGLFLQH ZDV SUHVHQWHG XVLQJ SHFKD NXFKD VOLGHV HDFK VKRZLQJ IRU VHFRQGV DQG OLPHULFNV

:H FDQ GR D ORW ZRUVH WKDW IROORZLQJ VRPH RI WKH FRQWURYHUVLDO \HW , WKLQN FRPPRQ VHQVH DSSURDFKHV RI 8PDLU +DTXH D 'LUHFWRU RI WKH +DYDV 0HGLD /DE DQG D UHJXODU FRQWULEXWRU WR +DUYDUG %XVLQHVV 5HYLHZ EORJV

&DQ \RX GR VRPHWKLQJ LQQRYDWLYH DQG GLIIHUHQW LQ \RXU QH[W SUHVHQWDWLRQ" ,W FDQ EH YHU\ HQJDJLQJ HVSHFLDOO\ LI LWÂ¶V GLIIHUHQW IURP

, SDUWLFXDUO\ OLNH +DTXHÂ¶V JUHDW WR JRRG 2EDPDÂ¶V FROODERUDWLRQ PLVWDNHV D VWUDWHJ\ IRU WKH VW FHQWXU\ LQ IRXU ZRUGV DQG WKH EXLOGHUV PDQLIHVWR

ZKDW HYHU\ERG\ H[SHFWV

0RUH RI +DTXHÂ¶V EORJV DUH KHUH

*/(11 &$5':(//

7KH REHVLW\ HSLGHPLF

, ZRXOG EH YHU\ LQWHUHVWHG LQ \RXU FRPPHQWV FRXOG LW EH WKDW %XLOGHUVKLS KDV UHSODFHG OHDGHUVKLS"

)(% 3 0

7HUPLQJ WKH JUDGXDO LQFUHDVH LQ WKH QXPEHU RI RYHUZHLJKW SHRSOH DV WKH 2EHVLW\ (SLGHPLF LV PRUH DQ HPRWLRQDO SKUDVH WKDQ DQ DFFXUDWH RQH VD\ &DQDGLDQ DFDGHPLFV LQ DQ HGLWRULDO LQ WKH (XURSHDQ -RXUQDO RI 3XEOLF +HDOWK $Q HSLGHPLF XVXDOO\ UHIHUV WR D GLVHDVH WKDW KDV D VXGGHQ RQVHW ZLWK D WHPSRUDU\ KLJK SUHYDOHQFH LQ D SRSXODWLRQ $OWKRXJK RYHU KDOI RI ZHVWHUQ SRSXODWLRQV DUH RYHUZHLJKW LW KDV KDUGO\ EHHQ D VXGGHQ RQVHW

,V H[FHVV ERG\ IDW D GLVHDVH"

)HEUXDU\

www.first-step-community.info

7KH RWKHU DVSHFW WR FDOOLQJ REHVLW\ DQ HSLGHPLF LV WKDW LW WKHQ EHFRPHV D GLVHDVH ,V REHVLW\ UHDOO\ D GLVHDVH RU MXVW D PLV PDQDJHPHQW RI HQHUJ\ LQ DQG HQHUJ\ RXW LQ D VRFLHW\ ZLWK DEXQGDQW IRRG DQG HQHUJ\ VDYLQJ

WKH SRWHQWLDO KRSH WKDW UHVHDUFKHUV ZLOO DWWUDFW JRYHUQPHQW DWWHQWLRQ DQG SRVVLEO\ IXQGLQJ IRU UHVHDUFK WKHQ , FDQ RQO\ DJUHH

GHYLFHV" /DEHOLQJ REHVLW\ DV D GLVHDVH FDQ KHOS JHQHUDWH UHVHDUFK IXQGLQJ WR ILQG D Â³FXUHÂ´ IRU WKH GLVHDVH ,W DOVR VXJJHVWV WKDW SHRSOH KDG OLWWOH VD\ LQ EHFRPLQJ RYHUZHLJKW EHFDXVH ZHOO LWÂ¶V D GLVHDVH DQG GLVHDVHV DUH VRPHWKLQJ WKDW \RX FDWFK SRVVLEO\ IURP DQRWKHU SHUVRQ

5HIHUHQFH (XURSHDQ -RXUQDO RI 3XEOLF +HDOWK

*/(11 &$5':(// 'LVDVWHU RQ WKH KRUL]RQ"

-XLFH 3OXV UHYLVLWHG

,Q P\ YLHZ WKH XVH RI WKH WHUPV Â³GLVHDVHÂ´ DQG Â³HSLGHPLFÂ´ KHOSV FHPHQW WKH LGHD WKDW D GLVDVWHU LV SHQGLQJ DQG PDQ\ SHRSOH DUH DERXW WR GLH DQG ZLWKRXW D VNHUULFN RI MXVWLILFDWLRQ SHRSOH FDQ VD\ WKDW Â³RXU FKLOGUHQ ZLOO EH WKH ILUVW JHQHUDWLRQ WR KDYH D VKRUWHU OLIH VSDQ WKDQ WKHLU SDUHQWV Â´ 5HVW DVVXUHG WKDW FODLP KDV EHHQ SXUH IDEULFDWLRQ WR JHQHUDWH KHDGOLQHV 5LJKW QRZ DYHUDJH OLIH VSDQV FRQWLQXH WR LQFUHDVH ZLWK QR KLQW RI GURSSLQJ

)(% 3 0 <RX PD\ UHFDOO WKDW LQ DQ HDUOLHU EORJ , DVNHG DERXW WKLV IUXLW DQG YHJHWDEOH H[WUDFW VXSSOHPHQW 7R UHIUHVK \RXU PHPRU\ , VDLG Â³-XLFH 3OXV KDV EHHQ DURXQG IRU VRPH WLPH 1XWULWLRQ SURIHVVLRQDOV DUH QRW WKDW H[FLWHG E\ LW DV LW LV YHU\ GLIILFXOW WR JHW PXFK GHK\GUDWHG YHJHWDEOH RU IUXLW LQWR D WDEOHW 7KHUH LV UHVHDUFK WR VKRZ WKDW WKH WDEOHWV GR LQFUHDVH DQWLR[LGDQW OHYHOV LQ WKH EORRG <RX ZRXOG KDYH WR HDW DW OHDVW WDEOHWV WR JHW HYHQ FORVH WR D VLQJOH VHUYH RI D YHJHWDEOH DQG HYHQ WKHQ PDQ\ QXWULHQWV ZLOO EH ORVW WKURXJK SURFHVVLQJ Â´

7KH JRRG QHZV 7KH DXWKRUV SRLQW RXW WKDW ZKLOH RYHUZHLJKW KDV LQFUHDVHG KLJK EORRG SUHVVXUH DQG KHDUW GLVHDVH KDYH EHHQ RQ WKH GHFOLQH 7KH\ VD\ WKDW Â³IXUWKHU VLQFH WKH HDUO\ V FRURQDU\ KHDUW GLVHDVH PRUWDOLW\ UDWHV KDYH KDOYHG DQG OLIH H[SHFWDQF\ KDV LQFUHDVHG VWHDGLO\ LQ VHYHUDO GHYHORSHG FRXQWULHV Â´

6LQFH WKHQ WKHUH KDV EHHQ D VKRUW DUWLFOH LQ WKH $PHULFDQ -RXUQDO RI 0HGLFLQH ODWH ODVW \HDU $ \HDU ROG ZRPDQ ZLWK HQGRPHWULDO FDQFHU EHJDQ WR WDNH -XLFH 3OXV DV D VXSSOHPHQW ,W LV YHU\ FRPPRQ IRU SHRSOH ZLWK FDQFHU WR VWDUW WDNLQJ ZKDW LV SHUFHLYHG DV QDWXUDO VXSSOHPHQWV LQ WKH KRSH WKDW WKLV ZLOO UHYHUVH WKH FDQFHU RU KDOW LWV SURJUHVVLRQ ,Q WKLV FDVH WKH -XLFH 3OXV EHJDQ WR DGYHUVHO\ DIIHFW KHU OLYHU IXQFWLRQ 6WRSSLQJ WKH -XLFH 3OXV UHWXUQHG WKH OLYHU WR QRUPDO DIWHU IRXU ZHHNV

,Q $XVWUDOLD KLJK EORRG SUHVVXUH KDV KDOYHG LQ DGXOWV GURSSLQJ IURP LQ WR LQ DGXOWV DJHG WR \HDUV DW WKH EHJLQQLQJ RI WKLV FHQWXU\ &RURQDU\ KHDUW GLVHDVH GHDWK UDWHV KDYH IDOOHQ UDSLGO\ VLQFH WKH V ,Q WKH GHFDGH WR WKH KHDUW GLVHDVH GHDWK UDWH GURSSHG E\ GXH WR D UHGXFWLRQ LQ WKH QXPEHU RI KHDUW DWWDFNV DQG D EHWWHU

7KH DXWKRUV IURP WKH 8QLYHUVLW\ RI 7H[DV VDLG LW ZDV LPSRUWDQW WKDW GRFWRUV NQRZ RI DOO WKH VXSSOHPHQWV EHLQJ WDNHQ E\ SDWLHQWV DQG FRQYHUVHO\ WKDW SDWLHQWV ZHUH RSHQ DERXW ZKDW WKH\ WRRN LQ DGGLWLRQ WR DQ\ SUHVFULEHG PHGLFDWLRQ 7KDW ZD\ WKH\ FDQ EH DOHUWHG WR SRWHQWLDO VLGH HIIHFWV RI WKH VXSSOHPHQW 1DWXUDO GRHV QRW DOZD\V HTXDO VDIH RU

VXUYLYDO UDWH +RZHYHU WKH DXWKRUV GR DGG WKDW WKH LQFUHDVH LQ REHVLW\ PD\ ZHOO KDYH VORZHG GRZQ WKHVH IDYRXUDEOH WUHQGV DQG WKDW LW LV YHU\ XQOLNHO\ WKDW KHDUW GLVHDVH UDWHV ZLOO HYHU UHWXUQ WR WKRVH RI WKH V

KHDOWK\

1RW IRU D PRPHQW DUH WKH DXWKRUV GRZQSOD\LQJ WKH KHDOWK FRQVHTXHQFHV RI EHLQJ RYHUZHLJKW DV LW LV DVVRFLDWHG ZLWK D QXPEHU RI FKURQLF GLVDELOLWLHV VXFK DV GLDEHWHV DQG RVWHRDUWKULWLV DQG WKH IDFW WKDW VXFK SHRSOH DUH XQOLNHO\ WR EH HQMR\LQJ OLIH WR WKH IXOOHVW :KDW GRHV LW DOO PHDQ" 7KH DXWKRUV GR ZDUQ WKDW FODVVLI\LQJ REHVLW\ DV D GLVHDVH UDWKHU WKDQ D ULVN IDFWRU GRHV QRW KHOS XV XQGHUVWDQG REHVLW\ DV D SXEOLF KHDOWK SUREOHP )RU H[DPSOH \RX FDQQRW JXHVV VRPHERG\Â¶V ZHLJKW LI \RX RQO\ ORRN DW D VHULHV RI WHVWV VXFK DV EORRG FKROHVWHURO RU EORRG SUHVVXUH ,Q 1, , PHQWLRQHG WKDW WKDW DERXW KDOI RI RYHUZHLJKW SHRSOH DUH PHWDEROLFDOO\ ILW DQG DURXQG RQH TXDUWHU RI OHDQ SHRSOH DUH TXLWH XQKHDOWK\ 7KHUH LV QR VSHFLILF FXW RII ZHLJKW WKDW GHWHUPLQHV ZKHWKHU \RX DUH JRLQJ WR EH XQKHDOWK\ RU KHDOWK\ LQ WKH IXWXUH $OWKRXJK WKH DXWKRUV GLGQÂ¶W VWDWH LW LQ EOXQW ODQJXDJH LI WKH\ WKLQN WKDW ODEHOLQJ REHVLW\ DV D GLVHDVH LV PRUH DERXW FUHDWLQJ IHDU LQ WKH SXEOLF LQ

)HEUXDU\

www.first-step-community.info

7+( $/021' ())(&7 1RZ QHJDWLYH PHPRULHV DQG WKHLU DVVRFLDWHG GHFLVLRQV ZLOO DOZD\V FRPH WR PLQG ILUVW EHFDXVH RXU DP\JGDOD LV DOZD\V RQ JXDUG WR SURWHFW

&/8(6 ,V ODFN RI VOHHS PDNLQJ \RX D SRRU OHDGHU"

XV 7KH\ ZLOO DV $ULHO\ SXWV LW µEHFRPH SDUW RI WKH EOXHSULQW¶ IRU IXWXUH DFWLRQV

)(% $ 0 $QG LW¶V ZKHQ ZH XVH WKLV EOXHSULQW DQG UHVSRQG LQDSSURSULDWHO\ WKDW¶V ZKDW , FDOO 7KH $OPRQG (IIHFW

$UH \RX JHWWLQJ HQRXJK" (YHU FRQVLGHUHG WKDW WKH DPRXQW RI VOHHS \RX JHW LV D NH\ IDFWRU LQ VWDII UHWHQWLRQ"

,I ZH DUH WLUHG RXU 3)& LV WRR H[KDXVWHG WR UHIOHFW EDFN RQ WKH HPRWLRQDO FLUFXPVWDQFHV LQ ZKLFK WKH RULJLQDO GHFLVLRQ ZDV PDGH DQG FRQVLGHU ZKHWKHU WKH GHFLVLRQ LV VWLOO WKH FRUUHFW RQH LQ WKH IUHVK VLWXDWLRQ

5HVHDUFKHUV WHOO XV WKDW VOHHS LV FULWLFDO IRU RXU FKLOGUHQ¶V FDSDFLW\ WR OHDUQ ,I WKH\ GRQ¶W JHW HQRXJK VOHHS WKHLU DELOLW\ WR PDNH QHZ FRQQHFWLRQV DQG WKHLU DELOLW\ WR FRQFHQWUDWH LV LPSDLUHG

:H DUH WKHQ OLNHO\ WR PDNH WKH VDPH SRRU GHFLVLRQ DJDLQ HYHQ WKRXJK ZH PD\ QRW EH IHHOLQJ WKH VDPH QHJDWLYH HPRWLRQV ZH IHOW ZKHQ WKH RULJLQDO GHFLVLRQ ZDV PDGH

7\SLFDO GDLO\ VOHHS UHTXLUHPHQWV IRU FKLOGUHQ E\ DJH DUH ,QIDQWV WR PRQWKV KRXUV 7RGGOHUV KRXUV 3UHVFKRROHUV KRXUV 6FKRRO DJH FKLOGUHQ KRXUV

, ZRQGHU LI WKDW¶V ZK\ RIILFH IHXGV VLOR EDWWOHV KRPH DUJXPHQWV HYHQ ZDUV JR RQ IRU VR ORQJ ± ORQJ DIWHU WKH RULJLQDO FDXVH KDV EHHQ GHIXVHG :H MXVW KDYHQ¶W VWRSSHG WR FKDOOHQJH WKH SDWWHUQ LQ RXU EUDLQ DQG VR NHHS UHSHDWLQJ GHFLVLRQV DQG EHKDYLRXUV EHFDXVH µWKDW¶V WKH ZD\ LW¶V DOZD\V EHHQ ¶

6R DUH \RXU NLGV JHWWLQJ HQRXJK VOHHS"

$VN \RXU SHRSOH LI WKH\ OLNH ZRUNLQJ IRU \RX ZKHQ \RX DUH VOHHS GHSULYHG

$QG DV LPSRUWDQWO\ DUH \RX"

6R IRU PRVW RI XV ODFN RI VOHHS PHDQV VQDS GHFLVLRQV SURFUDVWLQDWLRQ UHSHDWLQJ EDG GHFLVLRQV LQDELOLW\ WR FRQFHQWUDWH DQG EDG PRRGV $QG EHFDXVH ZH DUH WLUHG ZH HDW WKH MXQN IRRG RXU ERGLHV FUDYH IRU DQ LQVWDQW VXJDU JOXFRVH KLW :H DUH WRR ZHDU\ WR GR DQ\ H[HUFLVH DQG VR WKH H[KDXVWLRQ F\FOH FRQWLQXHV ± MXVW DGGLQJ WR WKH ORDG RQ RXU ERGLHV DQG WKH GHSOHWLRQ RI HQHUJ\

:K\ GRHV LW PDWWHU" +LJK SHUIRUPLQJ EUDLQV HVSHFLDOO\ WKH SUH IURQWDO FRUWH[ DUHDV 3)& UHTXLUH KHDSV RI HQHUJ\ LQ WKH IRUP RI JOXFRVH 7KH 3)& LV UHVSRQVLEOH IRU RXU H[HFXWLYH IXQFWLRQLQJ OLNH SODQQLQJ GHFLVLRQ PDNLQJ DQDO\VLV FRPSDULVRQV DQG EHKDYLRXU FRQWURO L H FRPSOH[ FRJQLWLYH DFWLYLWLHV

'R \RXU SHRSOH ORYH ZRUNLQJ IRU \RX ZKHQ \RX DUH OLNH WKDW" $UH \RX D JRRG OHDGHU" 'R WKH\ IHHO µHQJDJHG¶"

-XVW OLNH FKLOGUHQ LI ZH DUH KDYHQ¶W KDG HQRXJK VOHHS WKHQ RXU ERGLHV SULRULWLVH WKH DYDLODEOH HQHUJ\ MXVW WR NHHS XV SK\VLFDOO\ IXQFWLRQLQJ 7KDW PHDQV RXU EUDLQV HVSHFLDOO\ WKH 3)& ODJ EHKLQG LQ WKH UDFH IRU JOXFRVH

7KH\ PLJKW SXW XS ZLWK LW IRU D IHZ GD\V D IHZ ZHHNV HYHQ ORQJHU EXW LQ WKH HQG WKH\¶OO ZDON DZD\ DQG ILQG VRPHRQH ZKR LV HDVLHU WR ZRUN ZLWK

5HVXOW WLUHG EUDLQV ILQG LW KDUG WR FRPH XS ZLWK QHZ DQVZHUV 2QH FRQVHTXHQFH LV WKDW ZH HQG XS UHSHDWLQJ ZKDW ZH KDYH GRQH EHIRUH HYHQ LI ZH NQRZ ZH VKRXOG ILQG D QHZ ZD\ :H ILQG LW KDUG WR IRFXV ZH SURFUDVWLQDWH RU ZH KDVWLO\ PDNH GHFLVLRQV WKDW ZH VKRXOG VOHHS RQ

:KDW WR GR DERXW LW

1HJDWLYH PHPRULHV DQG EDG GHFLVLRQV SUHYDLO

%XW DW WKH YHU\ OHDVW DFNQRZOHGJH ZKHQ ODFN RI VOHHS LV LPSDFWLQJ WKH

,¶P QRW \RXU PRWKHU VR ,¶P QRW JRLQJ WR WHOO \RX WR JR WR EHG HDUOLHU WDNH D EUHDN JHW VRPH H[HUFLVH HDW SURSHU IRRG FXW GRZQ RQ WKH DOFRKRO ± \RX FDQ ZRUN WKDW RXW \RXUVHOI

ZD\ \RX OHDG &RQVLGHU ZKHWKHU LI \RX ZHUH LQ \RXU SHRSOH¶V VKRHV \RX DUH SURYLGLQJ WKH NLQG RI OHDGHUVKLS WKDW ZLOO HQFRXUDJH \RXU EHVW HPSOR\HHV WR VWD\"

$GG WKLV SLHFH RI UHVHDUFK LQWR WKH PL[ 'DQ $ULHO\ DW 'XNH 8QLYHUVLW\ ZRQGHUHG LI GHFLVLRQV PDGH LQ QHJDWLYH HPRWLRQDO FLUFXPVWDQFHV LQ WKH SDVW LQIOXHQFHG IXWXUH DFWLRQV ZKHQ WKH RULJLQDO HPRWLRQ ZDV QR ORQJHU SUHVHQW +H GLG VRPH H[SHULPHQWV DQG FRQFOXGHG WKDW WKH\ GLG

,I WKH DQVZHU LV QR DQG ODFN RI VOHHS KDV VRPHWKLQJ WR GR ZLWK LW WKHQ PD\EH \RX VKRXOG OHW \RXU NLGV SXW \RX WR EHG UHDG \RX D EHGWLPH VWRU\

5HDVRQ ZKHQ ZH PDNH GHFLVLRQV ZH WDS LQWR WKH PHPRULHV RI GHFLVLRQV ZH PDGH LQ WKH SDVW LQ FLUFXPVWDQFHV WKDW FDQ EH OLQNHG LQ VRPH ZD\ WR WKH SUHVHQW VLWXDWLRQ 7KDW¶V HDVLHU IRU RXU EUDLQ WKDQ KDYLQJ WR FRPH XS ZLWK QHZ QHXUDO FRQQHFWLRQV D QHZ GHFLVLRQ

DQG NLVV \RX JRRGQLJKW

)HEUXDU\

www.first-step-community.info

7+28*+7 /($'(56 %/2*

7KH ,QDXJUXDO 7KRXJKW /HDGHUV 0DJD]LQH

,QVSLUHG RU 6LPSO\ 6XUYLYLQJ"

)(% $ 0

)RU PH WKHUH LV QRWKLQJ TXLWH DV SRZHUIXO DV VRPHRQH ZLWK DQ LGHD WR VKDUH DQG WKH DELOLW\ WR VKDUH LW 7KLV LV 7KRXJKW /HDGHUVKLS DQG KDV EHHQ P\ REVHVVLRQ IRU RGG \HDUV , EHOLHYH WKDW WKH WRROV WR H[SUHVV \RXU 7KRXJKW /HDGHUVKLS DUH SXEOLF VSHDNLQJ VNLOOV WKH DUW RI RUDWLRQ DQG WKH VFLHQFH RI LQIOXHQFH 7KH DELOLW\ WR JHW XS LQ IURQW RI D JURXS RI SHRSOH DQG VKDUH DQ LGHD LQ D ZD\ WKDW LV HQJDJLQJ UHOHYDQW DQG PHDQLQJIXO

)(% 3 0

:H DUH WKULOOHG DERXW WKH ODXQFK RI WKH 7KRXJKW /HDGHUV 0DJD]LQH $QRWKHU JUHDW ZD\ IRU WKH 7KRXJKW /HDGHUV 0HQWRUV WR VKDUH WKHLU H[SHUWLVH

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ÂµMXVW JHW RXW RI WKLV ZLWKRXW HPEDUUDVVLQJ \RXUVHOI DQG ZH KDYH VXFFHHGHG Â¶ :KDW KDV EHHQ IXQGDPHQWDOO\ PLVVLQJ IRU PH LQ DOO WKH ZRUN VR IDU RQ SXEOLF VSHDNLQJ DQG SUHVHQWDWLRQ VNLOOV ZDV WKH Âµ,QVSLUHGÂ¶ DSSURDFK 7KH FKDOOHQJH WR VWHS XS DQG EH WUXO\ ZRUOG FODVV 7R EH H[WUDRUGLQDU\ WR EH VR GDPQ JRRG DW VSHDNLQJ LQ SXEOLF WKDW \RXU DUH LQYLWHG VHGXFHG DQG \HV PD\EH HYHQ SDLG WR VKDUH \RXU WKRXJKWV &DQ \RX LPDJLQH WKDW" :KDW ZRXOG \RX QHHG WR NQRZ WR EH DEOH WR GR WKLV ÂµWKLQJÂ¶ FDOOHG SXEOLF VSHDNLQJ VR EULOOLDQWO\"

,QVLGH RXU ILUVW LVVXH Â&#x2021; +RZ WR GLVFRYHU LGHDV Â&#x2021; 7KH SRZHU RI SORDULVLQJ RSLQLRQ Â&#x2021; +RZ WR PDNH PRQH\ IURP \RXU LGHDV Â&#x2021; ,QWHOOHFWXDO SURSHUW\ GHYHORSPHQW Â&#x2021; $Q DPD]LQJ QHZ ZD\ WR PHHW Â&#x2021; :K\ \RXU DXGLHQFH LV ORRNLQJ GRZQ

:HOO EHIRUH ZH JHW LQWR WKDW OHW PH OLIW WKH JDPH UDLVH WKH VWDNHV DQG XS WKH DQWL \RX FDQ WHOO ,Â¶YH EHHQ D PRWLYDWLRQDO VSHDNHU IRU D WRXFK WRR ORQJ /HW PH VXJJHVW D EXQFK RI UHDVRQV VHYHQ ZK\ VSHDNLQJ LQ SXEOLF LV LQVSLUDWLRQDO DQG VRPHWKLQJ \RX QHHG WR JHW YHU\ JRRG DW YHU\ TXLFNO\ ,W LV WKH QHZ OHDGHUVKLS LPSHUDWLYH )ROORZHUV UHTXLUH VR PXFK RI WKHLU OHDGHUV 7KH SRVW LQGXVWULDO DJH KLHUDUFKLFDO DXWKRULWDWLYH OHDGHUVKLS VW\OHV PDNH ZD\ IRU HPSRZHUHG IODW RUJDQLVDWLRQV ZKRVH FRPSHWLWLYH DGYDQWDJH OLHV LQ WKHLU FXOWXUH DQG JUHDW FXOWXUHV DUH UXQ E\ LQVSLUHG OHDGHUV

'RZQORDG \RXU FRS\ DQG VKDUH ZLWK \RXU FROOHDJXHV DQG IULHQGV ,W LV WKH XOWLPDWH SHUVRQDO GHYHORSPHQW YHKLFOH 7KHUH LV VRPHWKLQJ SKHQRPHQDOO\ FKDOOHQJLQJ DERXW VSHDNLQJ LQ SXEOLF

:H KRSH \RX HQMR\

7KHUH LV QRZKHUH WR KLGH ZKDW \RX GRQÂ¶W VD\ VD\V PRUH WKDQ ZKDW \RX GR DQG SHRSOH IRUP MXGJHPHQWV YHU\ TXLFNO\ DERXW ZKR \RX DUH DQG ZKDW \RX DUH VD\LQJ 7KH PRUH \RX GHYHORS <28 DV D SHUVRQ WKH PRUH HIIHFWLYH \RX DUH DV D VSHDNHU

7KH 7KRXJKW /HDGHUV 7HDP 3 6 'RQÂ¶W IRUJHW WR VKDUH \RXU WKRXJKWV YLD WOPDJ RQ WZLWWHU

,W LV OHYHUDJHG LQIOXHQFH 2QH RQ RQH OLVWHQLQJ LV JUHDW EXW QRW HDV\ WR GR DW VFDOH ,I \RX DUH EXLOGLQJ D IDVW JURZWK PRYHPHQW RU RUJDQLVDWLRQ \RX QHHG WR TXLFNO\ JHW HYHU\RQH RQ WKH VDPH SDJH 6SHDNLQJ LQ SXEOLF LV RQH RI WKH WUXHVW ZD\V WR GR WKLV

)HEUXDU\

www.first-step-community.info

*,+$1 3(5(5$ ,W LV D QHZ PHGLD 1HZV VRXUFHV DUH ELDVHG :H GRQÂ¶W WUXVW WKH SDSHU RU 79 WR OHW XV NQRZ

$OLFLD &XUWLV SUHVHQWV WKH $XVWUDOLDQ (PHUJLQJ /HDGHUV 5HSRUW

ZKDWÂ¶V JRLQJ RQ ZH WUXVW WKH SHUVRQ LQ IURQW RI XV 6SHDNLQJ WR ODUJH DXGLHQFHV LV WKH QHZ PHGLD 8QHGLWHG YLGHRV RQ VD\ <RX 7XEH DUH QRZ H[WHQGLQJ WKH UHDFK DQG LWV WKH ZKROH VSHHFK QRW MXVW HGLWHG KLJKOLJKWV RQ WKH VL[ RÂ¶FORFN QHZV

)(% 3 0 ,W LV D FHUWDLQW\ ILOWHU 0DQDJLQJ ZKDW \RX NQRZ WR EH WUXH YHUVXV ZKDW \RX WKLQN PLJKW EH WUXH LV KDUG WR GR ZHOO ZKHQ \RX DUH RQO\ WKLQNLQJ DERXW LW 6SHDNLQJ LW RXW ORXG IRUFHV \RX WR UHDOO\ FRQVLGHU ZKDW LV WUXH IRU \RX DQG ZKDW LV MXVW LPDJLQHG 6SHDNLQJ LV WKH XOWLPDWH ÂµOLJKW RI GD\Â¶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Â¶W JHW WKH VDPH H[SHULHQFH UHDGLQJ WKH VSHHFK DV KHDULQJ LW DQG KHDULQJ LW OLYH YHUVXV UHFRUGHG LV DQRWKHU OHYHO DJDLQ

$OLFLD &XUWLV D FOLHQW DQG IULHQG KDV MXVW UHOHDVHG 7KH $XVWUDOLDQ (PHUJLQJ /HDGHUV 5HSRUW D VXUYH\ RI RYHU \RXQJ SURIHVVLRQDOV DVNLQJ DERXW WKHLU DPELWLRQV DQG JRDOV DW ZRUN ,I \RXÂ¶UH D OHDGHU RU PDQDJHU RI \RXQJ SURIHVVLRQDOV WKLV LV HVVHQWLDO UHDGLQJ *HW \RXU IUHH FRS\ RI WKH UHSRUW KHUH

6R LI \RX ZHUH QRW QHUYRXV DERXW VSHDNLQJ LQ SXEOLF EHIRUH \RX MXVW PLJKW EH QRZ

,I \RXÂ¶UH LQ 3HUWK \RX FDQ DOVR DWWHQG $OLFLDÂ¶V FRPSOLPHQWDU\ PHQWRULQJ VHVVLRQ Â³7RS :D\V WR 7XUER &KDUJH \RXU <RXQJ 3URIHVVLRQDOVÂ´ RQ 7XHVGD\ WK 0DUFK

0DWW &KXUFK &UHDWRU RI 7KRXJKW /HDGHUV 0$77 &+85&+

:KR LV UHDOO\ VWRSSLQJ \RX IURP WDNLQJ \RXU EXVLQHVV WR WKH QH[W OHYHO" )(% 3 0 <RX NQRZ WKH FOLFKp UHVSRQVH RI \RX DUH VWRSSLQJ \RXU RZQ VXFFHVV LV PRUH VXEWOH WKDQ LW VHHPV <RX PD\ QRW ZDQW WKH QH[W OHYHO RI PRQH\ RU VXFFHVV EHFDXVH \RX KDYH FUHDWHG D VWRU\ DURXQG ZKDW WKDW ZLOO FRVW \RX 2IWHQ WKLV LV KLGGHQ XQGHU VHYHUDO OD\HUV RI FRQVFLRXVQHVV <RX PD\ EH FRPIRUWDEOH WDONLQJ DERXW D FHUWDLQ OHYHO RI PRQH\ 7KH RQO\ GLIIHUHQFH EHWZHHQ DQG D GD\ RU D VSHHFK

)HEUXDU\

www.first-step-community.info

5266 &/(11(77

62 :+$7Â¶6 1(;7"

$WODVVLDQ WKH VWRU\ DQG OHVVRQV VR IDU

:KHQ VXVWDLQDELOLW\ LVQÂ¶W VXVWDLQDEOH DQG KRZ LW FDQ EH

)(% 3 0

,Q $XJXVW , EORJJHG DERXW WKH LQQRYDWLYH UHFUXLWPHQW FDPSDLJQ RI $XVWUDOLDQ VRIWZDUH FRPSDQ\ $WODVVLDQ 7KLV FDPSDLJQ LQYLWHG RSHQ VODWKHU UHFUXLWPHQW DJHQF\ SDUWLFLSDWLRQ ZLWK D FDWFK 7KH $WODVVLDQ FDPSDLJQ ZDV ODXQFKHG ZLWK WKH SXUSRVH RI KLULQJ VRIWZDUH HQJLQHHUV IRU WKHLU 6\GQH\ KHDG RIILFH $IWHU , SRVWHG WKH DUWLFOH RQ P\ EORJ

+HUH LV D OLQN WR DQ H[FHOOHQW DUWLFOH E\ =DFN 6PLWK DQG &KDG 6WHZDUW =DFK DQG &KDG DUH SULQFLSDOV RI ,QWHUNDQQHFWLRQV DQ RUJDQLVDWLRQDO GHYHORSPHQW FRQVXOWDQF\ IRFXVLQJ RQ OHDGHUVKLS GHYHORSPHQW VXVWDLQDELOLW\ DQG WDOHQW PDQDJHPHQW V\VWHPV

SHRSOH FRPPHQWHG RQ WKH DUWLFOH HDVLO\ WKH , ORYH WKHLU DUWLFOH IRU VHYHUDO UHDVRQV ,W IRFXVHV RQ ZK\ EHLQJ OHVV EDG ZKLFK LV ZKDW D ORW RI RUJDQLVDWLRQV DUH GRLQJ LV QRW QHFHVVDULO\ D VWUDWHJ\ IRU VXVWDLQDELOLW\ HYHQ WKRXJK PDQ\ WKLQN LW LV 7KH DUWLFOH DOVR VKRZV XV D SDWKZD\ WKURXJK FRPSOLDQFH FRQIRUPLW\ DQG FRRSHUDWLRQ

127(6 )520 7+( :25.3/$&( *$5'(1

WKH FRPPRQ SDWK WKDW RIWHQ GRHVQÂ¶W OHDG WR D VXVWDLQDEOH EXVLQHVV DQG WKH QH[W HVVHQWLDO VWHSV RI FROODERUDWLRQ FRKHUHQFH DQG FRQVWHOODWLRQ 7KLV DUWLFOH SURYLGHV D ORW RI YDOXH DERXW KRZ \RX FDQ JR WKURXJK HDFK RI WKHVH VWDJHV DQG HQG XS ZLWK D WUXO\ VXVWDLQDEOH DQG SURVSHURXV EXVLQHVV

3UHSDULQJ IRU WKH VWRUP )(% $ 0 /LYLQJ LQ 6RXWK (DVW 4XHHQVODQG GXULQJ VXPPHU PHDQV GHDOLQJ ZLWK VWRUP VHDVRQ <RX FDQ H[SHFW VWURQJ ZLQGV ORWV RI UDLQ RFFDVLRQDO PLQRU IORRGLQJ DQG HYHQ SRZHU ORVV ,WÂ¶V DOO SDUW RI WKH QDWXUDO F\FOH RI OLIH DQG ZKLOVW LW FDQ EH DQQR\LQJ DW WLPHV WKH OLJKWLQJ VKRZV DUH RIWHQ VSHFWDFXODU

6PDUW JDUGHQHUV NQRZ WKH\ QHHG WR SUHSDUH IRU VWRUP VHDVRQ WR PLQLPLVH GDPDJH WR WKHLU JDUGHQ WKHLU KRXVH DQG WKHLU QHLJKERXUÂ¶V SURSHUW\ 7KLV LQYROYHV UHPRYLQJ ODUJH EUDQFKHV WKDW FRXOG IDOO SXWWLQJ DZD\ LWHPV WKDW FDQ EHFRPH SURMHFWLOHV UHORFDWLQJ SRW SODQWV WR VDIHU

GRLQJ WRGD\ ZKDW RWKHUV ZLOO RQO\ EH WKLQNLQJ DERXW WRPRUURZ

SRVLWLRQV DQG PRUH ,WÂ¶V DOVR ZK\ ZH SODQW UHVLOLHQW VSHFLHV WKDW FDQ ZLWKVWDQG WKH RQVODXJKW EHFDXVH LW LV KHDUW EUHDNLQJ WR VHH \RXU KDUG HIIRUW LQ WKH JDUGHQ GHVWUR\HG LQ PLQXWHV *,+$1 3(5(5$ ,WÂ¶V QRW XQOLNH WKH SUHSDUDWLRQ WKDW VPDUW ZRUNSODFH JDUGHQHUV GR EHIRUH D VWRUP KLWV WKHLU WHDP ,W FRXOG EH LQ WKH IRUP RI WKH EXV\ VHDVRQ HJ UHWDLO LQGXVWU\ DW &KULVWPDV D PDMRU FKDQJH WR JRYHUQPHQW OHJLVODWLRQ RU WKH DUULYDO RI D QHZ FRPSHWLWRU LQ WKH PDUNHW <RX NQRZ WKHUH DUH JRLQJ WR EH WRXJK WLPHV IRU \RXU SHRSOH VR \RX QHHG WR FOHDU WKH GHFNV DQG JLYH WKHP HYHU\ SRVVLEOH DVVLVWDQFH WR ZHDWKHU WKH VWRUP RU \RX PLJKW ILQG \RX ORVH D IHZ DORQJ WKH ZD\

7KLQNLQJ $KHDG -RXUQDO 'DYLG 3HQJODVH *LKDQ 3HUHUD 0DWW +HUQ 6XH PDUHH 5RVV &OHQQHWW $QQ 5ROIH 9DQHVVD +DOO 0DWW &KXUFK DQG RWKHUV

7KH JRRG QHZV LV WKDW VWRUPV GRQÂ¶W JR RQ LQGHILQLWHO\ ,Q IDFW VRPH ODVW D UHODWLYHO\ VKRUW WLPH +RZHYHU DQ XQSUHSDUHG JDUGHQHU FDQ EH PRSSLQJ

)(% 3 0

XS WKH PHVV IRU PRQWKV WR FRPH LI WKH\ GRQÂ¶W WDNH WKH ULJKW SUHYHQWDWLYH DFWLRQ +RZ RIWHQ KDYH \RX H[SHULHQFHG WKH HTXLYDOHQW DW ZRUN" 'RHVQÂ¶W VRXQG OLNH PXFK IXQ GRHV LW" :KDW DUH \RX JRLQJ WR GR WR EH EHWWHU SUHSDUHG QH[W WLPH \RX NQRZ D VWRUP LV RQ WKH KRUL]RQ"

)HEUXDU\

www.first-step-community.info

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

1RWHV IURP WKH ZRUNSODFH JDUGHQ OLIH OHVVRQV IURP WKH JDUGHQ

'RZQORDG WKH VW )HEUXDU\ LVVXH KHUH

6R :KDW¶V 1H[W" &KDQJLQJ :KDW¶V 1RUPDO :HELQDU

:KDW¶V LQ LW

0DWW +HUQ¶V 0RQH\ *XLGH 6HYHQW\ SHUFHQW RI FUHGLW FDUG GHEW DFFUXHV LQWHUHVW

3HWHU :HEE¶V ³:LVGRP &LUFOH´ :LVH 'HFLVLRQV

6DOHV 6XFFHVV )RUXP *RLQJ 7KH ([WUD 0LOH ,Q 6DOHV

0DWW +HUQ¶V 0RQH\ *XLGH :HDOWK ,QVLJKWV IRU <RXQJ 3HRSOH

*LKDQ 3HUHUD 2EDPD¶V +RPH 7HOHSURPSWHU 0DOIXQFWLRQV 'XULQJ )DPLO\ 'LQQHU

*LKDQ 3HUHUD ,I LQ GRXEW GR VRPHWKLQJ DQ\WKLQJ

0DWW +HUQ¶V 0RQH\ *XLGH $YHUDJH GXUDWLRQ RI $XVWUDOLDQ EXOO DQG EHDU PDUNHWV

1RWHV IURP WKH ZRUNSODFH JDUGHQ 'R \RX XVH WKH 'RQ %XUNH PHWKRG"

0DWW +HUQ¶V 0RQH\ *XLGH .LGV WKH\ PLJKW EH FXWH EXW WKH\ DUH FRVWO\

0DWW +HUQ¶V 0RQH\ *XLGH $ JXLGH WR LQYHVWPHQW PDUNHWV LQ

*LKDQ 3HUHUD 0DNH 0RUH 6DOHV )URP <RXU :HE 6LWH )UHH

*LKDQ 3HUHUD %XLOG <RXU :HE 6LWH ,Q 7ZR 'D\V 0\ )LUVW %RRW &DPS 6WDUWV 7RGD\

:RUNVKRS LQ 3HUWK

6R :KDW¶V 1H[W" 5HFHLYLQJ DQG *LYLQJ KRZ PXFK LV HQRXJK"

5RVV &OHQQHWW 7KH 0DGQHVV RI 6HQDWRU &RQUR\

-XVW D FRQYHUVDWLRQ 'R \RX WKLQN RXWVLGH WKH VTXDUH"

*LKDQ 3HUHUD 7KH SULQFLSOHV RI RQ OLQH FROODERUDWLRQ 0DWW +HUQ¶V 0RQH\ *XLGH ,GHQWLI\LQJ \RXU SDVVLRQDWH FDUHHU

0DWW +HUQ¶V 0RQH\ *XLGH 8QGHUVWDQGLQJ 3ULYDWH +HDOWK ,QVXUDQFH

$QQ 5ROIH¶V 0HQWRULQJ :RUNV %ORJ +RZ 'R <RX .QRZ 0HQWRULQJ :RUNV"

*LKDQ 3HUHUD 7KLQJV WR %ORJ $ERXW *OHQQ &DUGZHOO &RPIRUW )RRGV

1RWHV IURP WKH ZRUNSODFH JDUGHQ 'R \RXU SHRSOH KDYH D FOHDU SXUSRVH"

*OHQQ &DUGZHOO :K\ GRHV D PXVKURRP KDYH WKDW VKDSH"

7KH 7UXWK DERXW 7UXVW 'R \RX VKDUH RXU ZRUOGZLGH YLHZ"

1RWHV IURP WKH ZRUNSODFH JDUGHQ 6L]H GRHVQ¶W PDWWHU

6XH PDUHH +RZ 7R 5HVSRQG 7R %XOO\LQJ :LWKRXW %HLQJ $ %XOO\

$QQ 5ROIH¶V 0HQWRULQJ :RUNV %ORJ (QGLQJV DQG %HJLQQLQJV

*LKDQ 3HUHUD :HELQDU 5HFRUGLQJ 7KH 6HYHQ %LJJHVW 0LVWDNHV %XVLQHVV 2ZQHUV 0DNH :LWK 7KHLU :HE 6LWHV

5RVV &OHQQHWW 5ROH VSHFLDOLVDWLRQ WKH QHZ IURQWLHU IRU UHFUXLWPHQW DJHQFLHV WR ZLQ

)HEUXDU\

www.first-step-community.info

0DWW &KXUFK (YHU\WKLQJ LV FRQQHFWHG

ZLWK KLP +H UHDOLVHG KLV JXDUGHGQHVV RI KLV SULYDWH OLIH ZDV JHWWLQJ LQ WKH ZD\ RI KLV VXFFHVV

*LKDQ 3HUHUD )UHH :HELQDU 7KH 6HYHQ %LJJHVW 0LVWDNHV %XVLQHVV 2ZQHUV 0DNH :LWK 7KHLU :HE 6LWHV

&HUWDLQO\ RQH QHHGV WR WKLQN FDUHIXOO\ DERXW ZKDW \RX ZDQW WR VKDUH GUXQNHQ SDUWLHV DQG DQ H[FHVV RI VSHHGLQJ WLFNHWV PD\ QRW EH WKH JR 2WKHU LQIRUPDWLRQ WKRXJK DERXW \RXUVHOI DQG \RXU H[SHULHQFH PD\ UHDOO\ KHOS RWKHUV UHODWH WR \RX DQG VHH \RX LQ D PRUH FRPSUHKHQVLYH OLJKW

*LKDQ 3HUHUD +RZ WR (QWKUDOO DQ $XGLHQFH /LNH 6WHYH -REV

:KHQ \RX FRQVLGHU WKH H[SUHVVLRQ ³SHRSOH EX\ SHRSOH ´ LW LV SUREDEO\ GRZQ WR WKH IDFW WKDW WKH\ IHHO WKH\ FDQ WUXVW WKHP WKH\ IHHO WKH\ NQRZ WKHP 6R PDNH VXUH ZKHQ \RX¶UH GHYHORSLQJ WUXVWLQJ UHODWLRQVKLSV DV ZHOO DV KLJK FUHGLELOLW\ DQG UHOLDELOLW\ \RX DUH KLJK RQ \RXU SURIHVVLRQDO LQWLPDF\ WRR

-867 $ &219(56$7,21

-XVW D FRQYHUVDWLRQ %XLOGLQJ 7UXVW ,W¶V QRW DERXW KXJV )(% 3 0

5HPHPEHU 6XFFHVV LV -XVW D FRQYHUVDWLRQ ZZZ MXVWDFRQYHUVDWLRQ FRP

-XVW D FRQYHUVDWLRQ %XLOGLQJ 7UXVW ,W¶V QRW DERXW KXJV 5HPHPEHU 6XFFHVV LV -XVW D FRQYHUVDWLRQ ZZZ MXVWDFRQYHUVDWLRQ FRP

-867 $ &219(56$7,21

%XLOGLQJ 7UXVW ,W¶V QRW DERXW KXJV )(% 3 0 EXLOGLQJWUXVW ! ! EXLOGLQJWUXVW ! !'DYLG 0DLVWHU ZURWH D JUHDW ERRN FDOOHG ³7KH 7UXVWHG $GYLVRU´ ZKHUH KH DWWHPSWV WR DQG VXFFHVVIXOO\ LQ P\ PLQG TXDQWLI\ WUXVW

$FFRUGLQJ WR 0DLVWHU WKH NH\ FRPSRQHQWV WR WUXVW DUH KDYLQJ KLJK FUHGLELOLW\ DQG KLJK UHOLDELOLW\ ZKLOVW EHLQJ ORZ RQ VHOI RULHQWDWLRQ LQ RWKHU ZRUGV LW¶V QRW DERXW \RX LW¶V DERXW WKHP 7KLV PDNHV VHQVH ZH WUXVW WKRVH ZKR DSSHDU WR EH FUHGLEOH ± KDYLQJ WKH µULJKW¶ TXDOLILFDWLRQV ZRUNLQJ DW WKH µULJKW¶ FRPSDQ\ LQ WKH µULJKW¶ SRVLWLRQ DQG WKRVH WKDW DUH UHOLDEOH LQ GRLQJ ZKDW WKH\ VD\ WKH\ ZLOO GR ZKLOVW EHLQJ IRFXVHG RQ P\ RXWFRPH QRW WKHLUV

:KDW LV SRVVLEO\ PRUH VXUSULVLQJ LV WKH QHHG IRU KLJK LQWLPDF\ IRU SHRSOH WR WUXVW \RX 1RZ EHIRUH \RX WKLQN LW¶V DOO DERXW KXJJLQJ LW LV SURIHVVLRQDO LQWLPDF\ 7KLV LV DERXW VKDULQJ RI \RXUVHOI VHOI GLVFORVXUH VKRZLQJ \RXUVHOI DV D KXPDQ EHLQJ DV RSSRVHG WR D MRE WLWOH

:H ZHUH WDONLQJ DERXW WKLV LQ RQH RI RXU ZRUNVKRSV DQG GXULQJ WKH OXQFK EUHDN RQH RI WKH SDUWLFLSDQWV FDPH XS WR GLVFXVV IXUWKHU ,W WXUQHG RXW WKDW WUXVW ZDV VRPHWKLQJ WKDW KH KDG UHFHQWO\ VFRUHG ORZ RQ YLD D IHHGEDFN VHVVLRQ 7\SLFDO FRPPHQWV KH UHFHLYHG ZHUH ³ZH KDYH ZRUNHG ZLWK \RX IRU DJHV EXW ZH GRQ¶W IHHO ZH NQRZ \RX ´ 7KH SURIHVVLRQDO LQWLPDF\ FRPSRQHQW RI 'DYLG 0DLVWHUV¶ HTXDWLRQ KDG UHDOO\ UHVRQDWHG

Regular Contributors Gihan Perera

www.gihanperera.info

Hugh Gyton

justaconversation-hugh.blogspot.com

Ian Berry

www.ianberry.au.com/ianberrysblog.html

Matt Church

www.thoughtleadersblog.com www.mattchurchblog.com

Glenn Capelli

glenncapelli.blogspot.com

Glenn Cardwell

glenn-glenncardwell.blogspot.com

Sharonne Phillips

sharonne-phillips.blogspot.com

Anne Riches

anneriches.blogspot.com

Matt Hern

financialfuturist.com

David Beard

lifelongfitness.net/blog

David Thomas

thinkglobalblog.blogspot.com

Ross Clennett

rossclennett.blogspot.com

Jenn Shallvey

feeds.feedburner.com/LetsGoThere

Peter Webb

www.peterwebb.com.au

Sue-maree McEnearney

hspotting.blogspot.com

Helen Macdonald

helenmacblog.blogspot.com

Steve Francis

www.stevefrancis.net.au

Ann Rolfe

mentoring-works.blogspot.com

Michael Harrison

www.michaelharrison.com.au

Gary Ryan

garyryansblog.blogspot.com

Vanessa Hall

thetruthabouttrust.blogspot.com

David Penglase

salessuccessforum.com.au

Neil Mattingley

neilmattingley.com

Karen Schmidt