Johnny Come Lately? Build it Before You Need It

Several of my former colleagues, friends, and classmates are on the job prowl. I am always happy to help others, as many have helped me. A few however, want to join the conversation, via LinkedIn, Twitter, and Facebook. Although social media has been credited with mass mobilization in recent global uprisings, professional networking doesn’t work this way. Relationships take time, developing deep relationships requires patience, and people are generally cautious—if not fearful—of Johnny come lately that is asking, rather than giving. Some people change their status message on their LinkedIn profile, saying they are now looking for jobs, and I question if it’s too late.

Let’s get something straight. The concept of networking and reaching out to others for support isn’t about changing who you are. It’s about enlisting the help and advice of others to help you become who you can be.

Here are a few suggestions you can intake, invest, and pass on:

1). Waiting until you are laid-off, bored, or simply shutting down to what else is in the market is fool hearted. It doesn’t mean you need to jump ship before 1 month, or 1 year, but it means you should be talking to recruiters, companies, and hiring managers to see what next skills are needed now, and in the future. This will actually help your current employer, as you continue to skill up, and take on new projects and clients.

2). Those who ignore the party/conversation/network when they are content and decide to drop in when they need the network may not succeed. It’s pretty easy to spot those that are just joining the network purely to take—not to give. Therefore, be part of the party/conversation/network before you need anything from anyone. Start now, and continue to build relationships by giving now: share knowledge, help others, and become a trusted node and connector, not just an outlying “dot” of a comet that swings in every 4 years or so.

3). Read Keith Ferrazzi’s book Never Eat Alone and Who’s Got Your Back. These books focus on building your own personal “Relationship Rituals” and the behavioral foundation for creating lifeline relationships: Generosity, Vulnerability, Candor, Accountability.

Money Madness in March

You think you can pick stocks, determine which ones have the best chance of making the most gains in a one-month period? Do you think you can apply investment-analysis principles, ratio analysis, technical trends, or just plain instinct to determine which stocks are the best bet this spring?

Then consider competing in Consortium alum's Rob Wilson's second-annual March Money Madness stock-picking contest. Last year, he started the competition to take advantage of "bracket-mania" that accompanies the annual NCAA basketball championship and to promote investing in equity markets. This year, he resumes his version of the tournament with hopes he can attract many more participants (and sponsors) and award more prizes.

March Money Madness works similar to picking winners in traditional NCAA college brackets. There are rounds of competition, and in each round, participants try to pick a weekly winner between two stocks (like two college teams competiting). Just like the NCAA, in the early rounds, there are 32 and then 16 stock pairs. In subsequent rounds, participants choose winners among the companies that are remaining in the tournament.

From round to round, winners in pairings are determined based on the higher market return in the following week. Last year, the top prize was in iPad. This year, winners in the final round (the championship) will also receive prizes.

To win, stock-pickers of course must focus on short-term gains. But Wilson says the primary purpose is to promote investment education, to help participants learn more about equity markets and get comfortable in making stock selections, and to understand more about market trends and behavior.

To register and participate in this year's tournament, go to http://www.marchmoneymadness.net/ for competition rules. Reach out to Wilson at rob@robwilson.tv if you have feedback or are interested in being a sponsor. You can register after Feb. 15, but must do so before Mar. 16.

Wilson is a 2005 Consortium graduate of Carnegie Mellon. He is a Vice President in financial consulting at Blazer Capital Management and is a TV contributor and commentator on financial topics on Pittsburgh's KDKA-TV (See http://www.robwilson.tv/.)

--Tracy Williams