Prospect Researcher's Serenity Prayer

God grant me Serenity to accept the limited information available, 

Courage to always be open to trying new tools, and 

Wisdom to know what information should be confidential.

Completing one profile at a time, analyzing one affinity and capacity at a time; accepting challenges as a pathway to growth; taking as others did this imperfect industry as it is, not as I would have it; trusting that Each of us will make things right if we have faith; so that I may be reasonably happy in this life and at peace within myself.

Amen.

Draft of my version of the prospect Reseaarch Serenity Prayer, please comment and edit.

So Much Data So Little Time

Well, now that the Data Entry Manual is nearing completion (::APPLAUSE::), one of the (many) pressing thoughts on my mind is how to bridge the gap between how data is stored in RE and how we agreed to store data in RE. If all the components are not in place, end users will not follow the data entry instructions. So a good system for data entry problems and concerns is necessary.

After considering options, I have decided to review the RE Manual one Chapter at a time and compile a list of changes that need to be made. Though this is slower going, the end users will find it easier and less time-consuming to enter the data and thus be more likely to do it.

Priority Tabs:
Attributes
Relationships: Education
Volunteer
Prospect
Appeals
Honor/Memorial

To see the current draft copy, please go here: LIU RE Data Entry Policies and Procedures Manual

Work To Do:
Revisit LIU Affinity Score
Create revision list for RE
Look into Prospect Rating and Management Systems

Personal To Do:
Post on personal Blog
Register for Spring Library courses
Work on Resume
Finish Censorship Paper

Great Seminar on... Statistics!?

"The first one was too hot. The second one was too cold. The third one was JUST RIGHT."


I must admit, I was a bit doubtful when I boarded the LIRR at the Douglaston Station yesterday afternoon. I skipped lunch and left work early to attend a conference-style seminar on predictive analytics. I have been to many seminars of the like that were less than stellar. Many were either too basic or too theoretical to be of practical use to anyone in this field.


I have been dabbling in data mining and predictive analytics for 3 and a half years. My one achievement was being able to justify our need for data entry and data entry standards. This led to a 2 year project to create a Raiser's Edge Manual for data entry. While it is not the most intriguing project (and at times more tedious and frustrating than learning to knit). As far as actual analytics goes, I have been stuck in a rut of not understanding the NOVA chart output enough to weight a model. I was stuck in a flat binary world of 0's and 1's.



Isn't binary Sudoku a bit bland?

Well I'm glad to report that problem as solved and after David E. Robertson's seminar, "Zen and the Heart of Predictive Modeling." For information on David and the seminar go here. The world of predictive analytics is looking up for me once again.

I'm also glad to report having met another person with my first name and two other great APRA people who I can't wait to see at the holiday party in December. Woo hoo!

Skittish Researchers

Normally I'm pretty mellow and forgiving of people.


Today? Not so much. I have to admit, I am VERY low on patience today and being very busy as well, some one giving me a birthday card would turn me from this:

 into this:

 

I have been following the WSJ series "What They Know" out of personal interest and academic curiosity. The article they published this morning discusses the current administration's call for instituting privacy laws on the internet. This IS a good thing.

I come into my office and find an email from another Prospect Researcher:

I wanted to bang my head against the wall. I immediately wrote a response that I promptly saved as an email draft so as not to emasculate this poor soul. It goes as follows:

Dear  _______,

While people should be educated about our industry [prospect research], I don’t think we should over react to this series of articles. I have been following it in WSJ for a personal research project. This series has been ongoing and focuses on Internet marketers in the for-profit sector, who construct databases with personally identifiable information (thereby jeopardizing anonymity). I’m sure the government is well aware of our profession since they use the same methods in raising campaign funds and deciding what areas to visit most.

While database construction might be hampered a bit for a year or two, these information companies will find new ways around laws on obtaining information (think of how the gov’t put laws in place to regulate the trade of Futures; what was the financial world’s answer? Derivatives.)

Happy Friday,

LT 

It sits in my Saved Drafts folder in my MS Outlook. And there it shall remain...


Happy Friday!!!!

[Note: APRA is the main professional assn. for Prospect Researchers.]

What Are You Worth?

We've all been here: "This person left a top job at a top company to focus on building his own. There are basic financials for this company and he is so well connected and respected that he MUST be making money! (and it has been in existence for the past 5 -8 years)"

So how much is his company worth? Survey says there are multiple ways of doing this, and it depends on whether the business is private or public. (Public businesses issue stock in an IPO to raise funds to expand and grow. While these are easier to determine net worth, a prospect's ownership and therefore proceeds are reduced.)

You have several options, but I like these best: 

1. Public Company
• Find the balance sheet through Yahoo! Finance.
• Identify the company's Total Assets.
• Identify the company's Total Liabilities.
• Subtract Total Liabilities from Total Assets.
2. Private Company
• Identify the industry, size, and type of the company.
• Go to Global BX to view companies currently for sale to get an estimate for a company's net worth.
• While his is not as precise, it might be as close as you can get for a private company.

 Note: to calculate personal net worth, use the Net Worth Calculatorr at CNN Money. It's really simple math of subtracting debts from assets. I had fun doing this for myself. So try it.

Note 2: If yo go here: Vertex42, you can download a net worth calculator for MS Excel.

Have fun prospecting!

Is Prospect Research Spying?

Back in May of this year (2010), the Wall Street Journal published an article highlighting the function of prospect research within the nonprofit sector. I was reminded of this article (Is Your Favorite Charity Spying on You?) while attending an alumni networking event at my Alma mater. When asked what I do by a fellow alumnus, I mentioned prospect research for fundraising and when that didn't ring a bell, I equated it with detailed market research. "Oh!" he exclaimed, "you're a spy!" To my surprise he recalled the very same WSJ article, which presents my occupation in a more business friendly--albeit less hallowed--light. Our conversation ranged from techniques to data storage and security and even to ethics.

In its response to this article APRA President, Deborah Mueller, got very defensive explaining "misrepresents the scope and purpose of donor research, and as a result misleads Journal readers about its nature and use." She goes on to explain all of the regulations we are held to legally through external laws and acts as well as internally through confidentiality and ethical agreements.

Should she really need to defend and justify a profession that is being embraced at a break-neck speed within the nonprofit world? Market research in business is known to save money and help maximize profits. In recent weeks, the Wall Street Journal has been publishing a series on data collection and market targeting called "What They Know." Facebook's data was recently hijacked by a research company. Perhaps, the WSJ is reacting to a potentiall problem within the research profession: where to draw the line.

They see the way the profit sector pushes the limits of legality everyday. (I do not know about for-profit market research empployees; however, we are generally held to a confidentiality agreement with our institution. Based on the current issues with information leaks and data hijackings, perhaps the WSJ is rightly concerned with our profession's ethics as much as it is concerned with the market researchers following children's web browsing habits.

 Perhaps the most important agreement is within ourselves.

Perhaps the most important question is: Would I want this information about me known by a stranger?

Why ask, "Why?"

Back in August, I was approached to start an MLM (Multi Level Marketing) company by a good friend of mine. Being in an MBA program and wanting to strike out on my own a bit, I listened. Knowing her to be very judicious and informed, and after much research and inquiry into the company, I joined.

The deal was great: earn residual income for every customer you signup; get a bonus for every business partner who signs up underneath you. Sounds simple, right? So like a good little MBA student, I dove right into the business sending out messages on FB and Tweeting about the money saving products and services. The products and services really were great!

I signed a few people up for cell services and cable... but that ever illusive business partner was no where to be found. I needed to sign up a partner to start earning on my signups. So I contacted some like minded people to join me and be saved from their 9 - 5 drudgery.

And then came the backlash: 

        Friends on FB contacting me about spam.

        Friends asking not to be texted on this anymore.

I just wanted to save them money while making some for myself... little did I know: A person needs to WANT to be saved.

OK lesson learned... So where to from here? I decided to search for MLM support groups and mentoring. And I found it at: www.mentoringforfree.com 

So while reading his self help book, I stumbled across a section dedicated to developing you're "Why." This key concept is touted by every MLM as the cornerstone of the business. But they never coach you in developing it BEFORE you join. Only after you join.

While devoting two tireless nights to finding my "Why", I found it. My "Why" didn't exist! I was drawn purely to the money aspect. Not to the networking essence of the business or the personal freedom self-employment afforded.

(A note to all reading: in the end, money is NEVER a good "Why;" that is like becoming a doctor for the money rather than a desire to help people. If you don't love it, don't elect to pursue it.)

So I apologized to my friend and after 2 months of working on this company, I closed it. I still believe it is a genuinely good opportunity, just not for me.

I love books, information, history, data, research, food, drinks, and friends. I love my job. I love the people with whom I work (usually). I love the ability to continue my education for free and being able to hit the gym during lunch. The health insurance can't be beat. The only thing lacking is money, which while not everything, is important in the larger picture.

I don't love having to talk to people I don't know and "sell hard." Its not me. Finally realized I'm on the wrong track with the whole business thing.

OFF TO LIBRARY SCHOOL!