1. © U PSTREAM A CADEMY 2011 1 W ORLD C LASS T RAINING: G ETTING Y OUR F IRM O N T RACK P RESENTED BY S AM M. A LLRED, F OUNDER & D IRECTOR O F U PSTREAM A CADEMY U SING A P ERSONAL N ETWORK TO E NHANCE Y OUR C AREER P RESENTED BY S AM A LLRED F OUNDER A ND D IRECTOR O F U PSTREAM A CADEMY

2. © U PSTREAM A CADEMY 2011 1.Observations 2.Who’s in the Network 3.Four Keys to a Successful Network 4.ELA Participants Answer Key Questions 5.Questions and Answers 2 P RESENTATION M AP

3. © U PSTREAM A CADEMY 2011 3  O BSERVATIONS

4. © U PSTREAM A CADEMY 2011 O BSERVATION 1 We’ve all heard it said, “It’s who you know, not what you know, that matters.” While that statement can seem like an indictment of name-droppers and corporate climbers, it has an element of truth. Individuals rarely find success in isolation. 4

5. © U PSTREAM A CADEMY 2011 O BSERVATION 2 We’re on a journey, but since most of us operate in that dreaded space referred to by Stephen Covey as “Quadrant 1,” we often act as if every day is a sprint. There’s little opportunity to develop meaningful relationships during a sprint. 5

6. © U PSTREAM A CADEMY 2011 O BSERVATION 3 “Birds of a feather flock together.” Unfortu- nately, many in our profession seem to be connected only with others in the profession. We stay in our comfort zone of debits and credits, balanced and reconciled accounts. 6

7. © U PSTREAM A CADEMY 2011 7  W HO ’ S I N T HE N ETWORK

8. © U PSTREAM A CADEMY 2011 What Is a Personal Network? While it may seem self-evident that a network is a group of individuals with whom you’ve developed connections to obtain and share information, few of us have taken the time to think about this strategically. 8

9. © U PSTREAM A CADEMY 2011 It’s easy to assume we are talking about our pool of referral sources when we say the word network, but if that is all we’re thinking… 9

10. © U PSTREAM A CADEMY 2011 …then we’re definitely thinking small. 10

11. © U PSTREAM A CADEMY 2011 A personal network should consist of individuals you admire and in whom you have great confidence because they have talent, knowledge and skills that can help you in your work and personal life. 11

12. © U PSTREAM A CADEMY 2011 Who should be on that list: A mentor Peers within our profession Peers outside our profession People with varied interests and abilities 12

13. © U PSTREAM A CADEMY 2011 Mentor Not all firms assign a mentor, especially at more senior levels. Take charge of your career and identify an individual who has the ability and interest to help you maximize your strengths. The key to this relationship is regular meetings where you feel you can be open and honest about your situation. 13

14. © U PSTREAM A CADEMY 2011 Mentor The primary value of a mentor is career development. An interested but independent person can ask tough questions and challenge you to move forward. S/he can provide guidance and wisdom in your approach to your career. 14

15. © U PSTREAM A CADEMY 2011 Peers in the Profession Developing relationships with peers requires a philosophy of “abundance.” Do you believe there is plenty of room for success, both for you and your peers? If your philosophy emphasizes “competition” over “abundance,” you’ll never experience the collegial environment so essential to growing your professional skills. 15

16. © U PSTREAM A CADEMY 2011 Peers in the Profession All too often, we limit our peer relationships to others within our own organization rather than developing relationships with individuals in other firms or in industry. 16

17. © U PSTREAM A CADEMY 2011 Peers in the Profession When you go to your next conference, see what you can do to connect with an individual from another firm and see if you can be the catalyst to developing a relationship with that person. 17

18. © U PSTREAM A CADEMY 2011 Peers in the Profession The value in strong peer relationships is that they allow you to be open and honest about your technical work. These relationships provide opportunities to work with individuals in other disciplines within the firm. Being able to rely on these peer relationships for assistance with difficult questions and issues is essential to becoming a trusted advisor. 18

19. © U PSTREAM A CADEMY 2011 Peers in the Profession When you develop relationships with individuals from other firms, you get the benefit of growing your own technical skills, as well as insights into processes other firms employ to operate successfully. 19

20. © U PSTREAM A CADEMY 2011 Business Professionals As we grow in our profession, we must become more knowledgeable business people. Other professionals, such as bankers, attorneys and insurance agents, often serve as our principal referral sources. Developing relationships with owners and executives in other businesses keeps us informed on what they’re dealing with. 20

21. © U PSTREAM A CADEMY 2011 Business Professionals The value of networking with non-CPAs is that it pulls you out of your routine and makes you think from a different perspective. 21

22. © U PSTREAM A CADEMY 2011 Business Professionals There’s a big chasm between consultants and business people. Consultants advise – often based on theory – those in business who make difficult decisions, take action and fight the battles of the real world. Their school of hard knocks can provide you with an amazing education. 22

23. © U PSTREAM A CADEMY 2011 Non-business Contacts Ever heard the words, “Get a life”? There is more to life than work and business. If you want to grow as a human being, include people within your network who travel, enjoy the arts and sports, or who have varied hobbies and interests. Your success as a consultant comes from being a well-rounded square – not just a square. 23

24. © U PSTREAM A CADEMY 2011 24  F OUR K EYS TO A S UCCESSFUL N ETWORK

25. © U PSTREAM A CADEMY 2011 1. D EVELOP T RUST Relationships are built on trust. If a relationship isn’t working, there’s a good chance trust has been violated. It’s your network. It’s your responsibility to ensure you’re building on trust. 25

26. © U PSTREAM A CADEMY 2011 following through on good intentions bringing value to the relationship protecting confidences being honest in all you do following the Golden Rule 26 We build trust by:

27. © U PSTREAM A CADEMY 2011 2. E NSURE O THERS B ENEFIT Although you developed the network and are growing from the knowledge you obtain from others, you must give back at least as much as you gain. 27

28. © U PSTREAM A CADEMY 2011 Think about the Dead Sea in the Middle East. It has a source, but no outlet. Its waters are stale and stagnant. 28

29. © U PSTREAM A CADEMY 2011 3. F IND W AYS TO S AY T HANKS Thank people for their time. Your “thank yous” should vary based on circumstances, but here are some to consider: 29 a thoughtful note a small gift an outing to enjoy a common interest

30. © U PSTREAM A CADEMY 2011 4. B E P ASSIONATE A BOUT L EARNING Your enthusiasm for learning will be an inspiration to the members of your network. An open and inquisitive mind is a magnet to those who have the ability to teach you. We demonstrate our understanding by implementing what we’ve learned. Letting your network members know how you’ve used their information fuels their willingness to share. 30

31. © U PSTREAM A CADEMY 2011  ELA P ARTICIPANTS A NSWER K EY Q UESTIONS 31

32. © U PSTREAM A CADEMY 2011 We have asked a number of ELA participants to respond to several questions regarding the importance of a personal network. Please know that response to these questions is not limited to those participants who have been contacted in advance. 32

33. © U PSTREAM A CADEMY 2011 Q UESTION 33 Give an example of a relationship you have with a peer that helps you grow professionally and tell how you make this a mutually beneficial relationship.

34. © U PSTREAM A CADEMY 2011 Q UESTION 34 Describe how you work with your mentor to develop your personal network strategy and what this individual has done to help you succeed. Tell what you’ve done to bring value to this relationship.

35. © U PSTREAM A CADEMY 2011 Q UESTION 35 What challenges are present in having a client as a member of your personal network? What advantages does this relationship offer?

36. © U PSTREAM A CADEMY 2011 Q UESTION 36 Describe a network relationship you have with a non-business person and the value you find in that relationship.

37. © U PSTREAM A CADEMY 2011  Q UESTIONS A ND A NSWERS 37

38. © U PSTREAM A CADEMY 2011 38 Thank You! sama@upstreamacademy.com