Tuesday, June 29, 2010

June 16-Building long lasting relationships on LinkedIn by 678 Partners & Smartketing

Idea Chef and I had a great conversation with Jim Matorin about engagement and social networking last week. Part 1 discussed how 2010 is different from the previous few years where social marketing had some time to wind down across twitter, Facebook and LinkedIn. So here is our title:




The usual suspects on the interview turntable. Jim has a terrific background and is very knowledgeable. He is also a great guy. We had multiple touch points(phone and email first), before we met in person. If you are in the food marketing business, well worth knowing him.



The interview is in 2 parts. We did part 1 last week and will be doing part 2 this week. As soon as we have time to upload everything on the usual channels we will let you know. Slideshare, You Tube, Blogger, 678 Partners page  as well as our Facebook page will have all the details.


Everyone is trying to re-define engagement. Its still the same engagement as it always has been. Nothing replaces the face to face meeting on "how can I help you?" and "how can you help me?". Building the 2 way relationship has always been a face to face discussion(and will always remain that way). Online connections are great and now we have more channels to share information. At the end of the day the job still has to get done. We have delight and surprise our customers and solve their problems by offering top notch solutions.


My belief has always been that speed networking does not work in the fashion that most people apply it. 40 people all show up and exchange cards. You never hear from anyone unless YOU follow up. I was at one meeting last week. I have 30 cards on my desk. It was as if I was never in that room.



Jim had the best quote. Build meaningful and powerful relationships. It still amazes me in this country that they don't teach networking in business settings.


Some great discussion points on blogging from Jim. Very few blogs these days contain interesting content. It is not only classic marketing but should be built as part of your everyday strategy.


Separate your situational connections from your sustainable ones. Situational connections don't build a strong foundation for you. Will they be there when you need them most? Will they refer business to you? Again why would you want 70,000 connections when you only work with the first 100(possibly a lot fewer than those). If the first person to 100,000 connections wins an IPOD, that's great but focusing on building a quality relationship with  10 people might generate much better returns.



This slide explains itself. Regularly sharing best practice in the form of information exchange is a great way to enhance business relationships.


Jims details so you can get more information. I am also attaching our interview (you need 40 minutes to listen to this). I would suggest your cup of coffee over the weekend when you are reading the weekend papers.



678 Partners Idea Chef and Network Sommelier Interview with Smartketing Jim Matorin on Buzz Marketing, Engagement & LinkedIn Par from Amir Homayoun Rafizadeh on Vimeo.


I also did a short You TUBE with regards to a speed networking meeting I attended(I am still shocked people have not followed up with me). I might have to start approaching some business schools to start teaching this as a full time program.




Share your feedback with me on email or if you like this information, please visit our 678 Partners Facebook page and say you like this. We would certainly appreciate your thoughts and comments.



Amir Homayoun Rafizadeh aka Network Sommelier
Have a niche business? Want to join my LinkedIn strategic resources?
Comment on our Facebook page.
Want to be interviewed? Have something to say? Then email me or check out our interview studio.
Office: 312-725-3635



Friday, June 18, 2010

Hidden tax issues that serious art collectors neglect by 678 Partners Network Sommelier


The art world impacts everyone and anyone.
Museums collect and display it.
Non profits receive it from donors. Some know what to do and others have no idea on how to deal with it. Whichever camp you fall in, not knowing what to do with donated art can cost you a fortune. Hidden tax issues, complex estate decisions and never talked about asset protection topics are rarely discussed by professional advisors.


So I decided to talk to Randy Fox about this. Between Randy and I, we shared lots of stories from the real world.



Randy and I spent close to 40 minutes talking about this. Here is what we talked about.


If you get a chance this weekend grab a cup of coffee and listen to this 40 minute interview. Here it is:



678 Partners Network Sommelier art discussion with Randy Fox from Amir Homayoun Rafizadeh on Vimeo.

As always you can also find these interviews on our 678 partners interview studio web page.
Next few weeks we will be pick up a discussion on car collectors.
Want to get in touch with Randy? Please feel free to contact him with any questions that you might have. Here are his details:


What amazes me, is the fact that people spend a lifetime collecting art. That passion gets completely destroyed in a matter of hours or days. It does not seem to be an American only issue. It happens around the globe. Don't fall in that trap.



Stay tuned for our car collector discussion coming out soon.





We got a lot of interviews lined up. Have a great week. Don't forget if you like this topic feel free to check our Facebook page and drop a comment.




Amir Homayoun Rafizadeh aka Network Sommelier
Have a niche business? Want to join my LinkedIn strategic resources?
Comment on our Facebook page.
Want to be interviewed? Have something to say? Then email me or check out our interview studio.
Office: 312-725-3635

Monday, June 14, 2010

Get ready for a shaky 3rd and 4th quarter in US economy by 678 Partners Network Sommelier

Government spending has come to an end.
90% of new job hires are going to census(not long term jobs).
Europe going through a lot of problems.
US GDP is weak and threatened by 1% reduction with every $1trillion of new national debt.



Let's take a quick look at the last 7 recessions and expansions.



The most recent GDP recovery is fundamentally different from previous ones.


Large institutions hedge their bets based on taxes, interest rates and global economic outlook. Why is it that most investors can not invest like institutions?


If you are 5-10 years away from retirement, start saving now as fortune 500 pension plans are underfunded. Social security future funding (2010/2020 projections) is pretty unclear, so every person is now responsible for their own retirement.


If you think the last decade was bad, take a look at the return assumptions of some of the biggest companies in the US. This next decade will undoubtedly have slow growth. This would definitely require a different mind set as far as planning is concerned.

The latest state of consumer balance sheet (assets to liabilities) needs a major makeover. Every consumer has to watch their own balance sheet let alone, business's, cities, counties, states and the entire country. We have to clean balance sheets from the bottom up. Its going to be an ugly and long process.


Post recession of 2008, we are slowly beginning to see an increase in personal savings(something that we should have done 20 years ago).


Household debt (in all shapes and forms) is heading lower (in the right direction) as consumers are trying to keep cash and pay down debt. Budgeting becomes an absolute must!

No comment on lending standards. The chart should speak for itself. Small and mid sized community banks continue to fail under a slow and long process adopted by the FDIC. 

This latest trend is not talked about in the media. Hoping for improvement in Q3 and Q4. If this does not improve it will have a ripple effect in the US economy. More bankruptcies, more foreclosures, less consumer spending leading to a smaller GDP. Everyone is impacted by this measure. We need jobs and growth to boost GDP.






We have to stop printing money and address how we can reduce spending and bringing growth back. It starts by helping small business and encouraging entrepreneurship.




Between Japan and China, they own half of our debt(not a pretty picture).


Another signal to watch closely as investors seek safety and run towards yield(massive amounts of money going to bond mutual funds). Some investors are still paying the price for 2000 let alone 2008. Whats interesting is the investor behavior once you get hurt in one asset class. Every recession blamed one asset class. Started with bonds, then in 2000 it was equities and everyone went into real estate looking for cover. You remember what happened in 2008. Doing everything in one asset class is generally not a sound strategy.









What does all of this mean to you?
If you are a private business owner you should be building niches.
Separate yourself from competition. Everyone talks about public companies. Well 50% of US GDP comes from private business. When you get a chance take a listen to my 45 minute interview with Rob Slee the countries top expert in private business within our interview studio below.


As always, if you have questions please feel free to drop me an email here. Would be more than happy to answer any of your questions.



The entire presentation can be viewed here on my LinkedIn Slideshare.


Amir Homayoun Rafizadeh aka Network Sommelier
Have a niche business? Want to join my LinkedIn strategic resources?
Comment on our Facebook page.
Want to be interviewed? Have something to say? Then email me or check out our interview studio.
Office: 312-798-6727

Tuesday, June 8, 2010

678 Partners Network Sommelier interview with Rob Slee the countries lead private business expert

Yesterday I had a chance to catch up with Rob Slee one of the countries lead authorities on private business.


Its June 2010 and mid way through the year. Great time to take a pulse of the private business market. So Rob and I had a 45 minute discussion about the status of the US private business market.



His Private Capital Markets book is taught all over the world when the discussion involves private finance.


He has also published "Midas Managers" and Midas Marketing" 2 books that involve case study after case study on how the global competition has changed the landscape of private business. US private business owners can only compete by becoming value architects and create multiple niches. Value creation does not come naturally to private business owners.



So here is what we talked about:


And here is the audio link to the 45 minute interview. The next 2-3 years will be a survival test for these small to mid sized business's and how they compete on a global scale. Compete or face extinction. With 50% of US GDP relying on the sales of these private business owners, we need to pay them more attention.


The Midas Nation site has many free resources including all of Robs previous webinars and recordings. Membership is free and you can sign up anytime to view previous recordings. Make sure you tune in for their next webinar in September.


And here is Robs details if you need to contact him. Email is the best method of contacting Rob.


Our contact details are included here if you need any help with accessing this recording or talking about any of the strategies that can help you move forward in this tough economic climate. Every successful business started with a strategy, implemented its strategy with clever marketing and grew its sales. In each of these stages there are different issues. Dealing with these issues requires a different perspective based on the nature of the issue. 678 Partners is here to help you create, preserve and transfer the created wealth through innovative business and marketing strategies. Let us know how we can be of help. You can also email me (the Network Sommelier) with any questions, comments or feedback here or the Idea Chef here.

Lastly, here is a short video I did yesterday about the interview.

Have a great week and look for other interviews coming out in the next few weeks on having too much real estate, qualified plans, advanced retirement planning, mistakes in art collecting and buzz marketing and much more!


A strategic resource to private business owners, non-profit executives and art collectorsAmir Homayoun Rafizadeh, MBA
Network Sommelier
Connect to me on LinkedIn http://www.linkedin.com/in/wadvisor
Join us on our Facebook page: http://www.facebook.com678Partners
Office: 312-798-6727