Social Media: Ethics & Best Practices for Attorneys

Like financial professionals, attorneys bear the burden of using good sense and propriety online.  Would that everyone bore a similar burden! (but I digress).

Friday morning I co-facilitated a continuing education seminar for the Mecklenburg County Bar on social media with Andy Ciordia and Ted Claypoole . The attorneys asked great questions and the three of us presenting enjoyed the lively discussion.

Peppering his ethics guidance with jaw-dropping anecdotes of ethical lapses by legal professionals, Ted boiled everything down to four categories of concern:

• Talking too loosely
• Improper investigation (pretexting)
• Sites that don’t provide room for proper disclaimers (think: Twitter)
• Advertising Rules

I’m unqualified to say anything about legal ethics, but from a middle-aged lay person’s vantage point,  much of what Ted said seemed like common sense and good manners: don’t say anything about someone behind their back that you wouldn’t say to their face; don’t misrepresent yourself or your behavior; and don’t tell a judge you need a continuance because your father died if your Facebook page shows you were getting smashed at your college roommate’s wedding!

Advice for blogging, Facebook and Twitter

Andy and I showed several examples of what to do and not to do on the big three social media platforms:

Blogging: We didn’t need to dwell on the oft-repeated advice to publish frequently — they’d all heard it.  We took it further to show how you can subscribe to content feeds to supplement your own articles but also warned to keep non-pertinent content off your site. We showed an example of an otherwise-good blogsite by a divorce lawyer who inexplicably featured an article on SEO and Google.

Huh? Stick to your knitting.

Facebook: We see lots of lawyers using their personal FB profile as a professional site. Some even call it “The Family Law Firm of Jane Doe” or similar appellations — a big no-no and a violation of FB’s terms of service. FB created “Pages” for commercial use.  Go to my AUTHOR PAGE of FB and you’ll see how it differs from the personal.

Twitter: The main concern Andy and I expressed here is lack of engagement. Most of what we saw lawyers do is BROADCAST new blog posts or news of the firm. Blech. If you’re not engaging people on Twitter, don’t waste your time with it.

If you’re unsure where to take your social media marketing efforts, reach out. If I don’t have the answers, Andy or Ted will.

March Book Lust

Big news: I’m writing a book with Matt Davio called Tradeoffs: Leveraging the Longs & Shorts of Life. We’ll use the language and practices of those who trade for a living to frame life’s tradeoffs: time for money,  freedom for convention,  risk for reward, and money for goods and services.

In a post-meltdown world where so many people feel the stakes are higher and the margin for error more narrow than ever before, Tradeoffs will introduce a general interest reader to how traders view “scalp,” “swing,” “directional,” “fade” or “breakout” trading setups, how they mitigate risk, and how they live with the outcomes of their trades.

We have a book agent who’s excited about the project and will help us get the proposal in tip-top shape by the end of April so he can hit the road with it.  Stay tuned!

Trading From Your Gut: How To Use Right Brain Instinct & Left Brain Smarts To Become a Master Trader

by Curtis Faith

Reviewed by Dasan: Legendary trader Richard Dennis believed that trading was so simple that anyone with the right training and psychology could do it successfully. After making millions for himself in the commodity, stock, and FOREX markets, he trained complete novices how to trade in 2 weeks. He called them the “turtles.” He was right – a large number of the “turtles” went on to become very successful traders in their own right. Curtis Faith, the author of this book, was one of best of the turtles.

In “Trading From Your Gut” Curtis Faith’s discusses a central aspect of trading success: Intuition. While most mediocre traders let emotions drive their trading, better traders use primarily rational thought. The best traders of all, the master traders, use a balance of intuition and rational thought. Like the experienced poker player that just knows what the other player has, these master traders can identify trend reversals simply by “gut feel” which comes from a combination of experience and underlying rational thought.

This is an excellent book for the intermediate level investor. The author does give a basic explanation of a rudimentary swing trade system, but it is just enough knowledge to be dangerous. I would not recommend this book for a rank novice. However, if you have some experience trading stocks or commodities already, this book is extremely valuable. For me as an experienced hedge fund investor, I found his concepts mainly affirmed in a concise way what has taken me years to learn. In this way, this book could make a moderately experienced trader more successful very quickly.

The main thesis of the book is the importance of intuition in trading, especially by experienced traders who already have mastered their emotions. He says it like this: “A balance between left-brain analysis and right-brain intuition is critical for optimal trading.” He quotes many experts in this book, which adds a lot of value; for example, he quotes Barry Ritholz’s idea that “wisdom is the capability to have `strong opinions, weakly held.’” Faith emphasizes the importance for a master trader to think independently. He writes “If you want to be a master trader, you need to develop your own reasons for making trades.” He illustrates the concept of waiting for the right trade by comparing it to surfing at the beach, waiting for the right wave. The book is full of detailed examples like this, which illustrate his trading concepts. Faith wraps up the book with a discussion on ways to limit risk by being flexible, having a plan “B” and sizing positions properly to avoid overcommitment of your capital.

This book is valuable to any serious trader or investor looking to raise the level of their game. Novice investors have other volumes to read first.

Here’s my co-author Matt  interviewing author Curtis Faith:

The Back Channel: How Audiences are Using Twitter and Social Media and Changing Presentations Forever

by Cliff Atkinson

Reviewed by yours truly:  This book caught my eye because it grasped a phenomenon I’ve observed at events where the audience gives more eyeball time to their netbooks and smart phones than to the presenter. I figured someday I’d figure out how to harness the power of this behavior, and author Cliff Atkinson beat me to it. Mr Atkinson is THE authority to write on the matter. In addition to writing Beyond Bullet Points,  he designed the presentations that helped persuade a jury to award a $253 million verdict in the nation’s first Vioxx trial in 2005. Fortune magazine called the presentations “frighteningly powerful.”

For those new to the back channel and the ways of Twitter, never fear. The book starts there, not with boring  exposition, but with a real-life event where panelist Guy Kawasaki noticed a critical tweet (Twitter update) about him and asked the tweep (person who tweeted) to step up and explain the remark.  After setting the context for Twitter and the back channel with this case study, Mr Atkinson goes into the mechanics of Twitter and other technological means for sustaining an official back channel.

The part of the book that everyone presenting can use (with or without a back channel) describes how to be an editor, curator and taste-maker to your audience. Thinking of yourself in these ways makes it 100% easier to craft a presentation.

Mr Atkinson outlines a strategy for JOINING the back channel’s conversation, including how to manage a “conversational presentation.”  Presenters with and without a back channel should follow this advice

You can no longer get away with putting up a slide that lists Agenda or Introduction at the start of your presentation. Nor can you get away with kicking off your presentation with too many details or a list of your accomplishments. In a world in which your audience is accustomed to high-quality media at their fingertips, you need to capture their attention out of the gate. You must engage your audience within the first five slides or at least the first five minutes of your presentation.

The book offers a chapter on how to handle the positive and negative feedback from the back channel.  Particularly helpful is the advice that speakers should practice scenarios that put them in a range of difficult situations.  He gives five scenarios to practice: “You’re not listening to us;” Your Facts are wrong or misleading;” “Your material is a mismatch for us;” “Your material is boring;” and “You made me mad.”

Finally, relying on an excellent case study from a conference gone snarky via the backchannel, Mr Atkinson shows how Chris Brogan (author of Trust Agents) turned the situation around. Here’s the 10-point checklist for managing an unruly back channel:

1. Establish a reputation
2. Listen and collect stories
3. Dispense with pretense
4. Talk to the elephant in the room (if there is one)
5. Make it you, you, you instead of me, me, me
6. Check in with the audience early and often
7. Improvise
8. Stay grounded
9. Ignore the small stuff
10. Keep things in perspective

This slim volume is worth the $34.99 list price and includes a free 45-day searchable online edition. Both of my thumbs are way up.

Why We Make Mistakes: How we look without seeing, forget things in seconds, and are all pretty sure we are way above average

by Joseph T. Hallinan

Publishers Weekly review: Pulitzer winner for his stories on Indiana’s medical malpractice system, Hallinan has made himself an expert on the snafus of human psychology and perception used regularly (by politicians, marketers, and our own subconscious) to confuse, misinform, manipulate and equivocate. In breezy chapters, Hallinan examines 13 pitfalls that make us vulnerable to mistakes: “we look but don’t always see,” “we like things tidy” and “we don’t constrain ourselves” among them. Each chapter takes on a different drawback, packing in an impressive range of intriguing and practical real-world examples; the chapter on overconfidence looks at horse-racing handicappers, Warren Buffet’s worst deal and the secret weapon of credit card companies. He also looks at the serious consequences of multitasking and data overload on what is at best a two- or three-track mind, from deciding the best course of cancer treatment to ignoring the real factors of our unhappiness (often by focusing on minor but more easily understood details). Quizzes and puzzles give readers a sense of their own capacity for self-deception and/or delusion. A lesson in humility as much as human behavior, Hallinan’s study should help readers understand their limitations and how to work with them.

Genius on the Edge : The Bizarre Double Life of Dr. William Stewart Halsted

by Gerald Imber

Intro to a Fresh Air interview with the author:  In the second half of the 19th century, New York City’s population swelled from several hundred thousand to just over 2 million people. Conditions were not pleasant: Sewers were virtually nonexistent; piles of manure sat several inches high on sidewalks; and the city was overrun by disease.

Medical practices of the time were crude, at best: If surgical procedures were performed, they were done without sterilizing the equipment or the operating room, and typically ended with the patient losing an entire limb, if not his life.

It was in this environment that Dr. William Halsted began his surgical career. Halsted, who began the nation’s first residency program, pioneered techniques ranging from blood transfusions to sterilizing operating rooms. He also developed the radical mastectomy — also known as the Halsted mastectomy — reducing the local recurrence of breast cancer in patients nearly 50 percent. When Johns Hopkins Hospital opened its Department of Surgery in 1889, Halsted was named its first supervisor.

Though his legacy suggests a medical pioneer who made surgery safer and more precise, Halsted’s life was frequently messy.

That dual life is examined in Gerald Imber’s new biography of the doctor, Genius on the Edge: The Bizarre Double Life of Dr. William Stewart Halsted.

Imber traces Halsted’s journey from a young Columbia-trained medical student to a successful surgeon who secretly suffered from several narcotic addictions. Imber, himself a plastic surgeon, says that while Halsted was a “rigid perfectionist in some portions of his life, [he was] totally negligent and forgetful in others. He could leave a patient in a hospital bed for weeks on end and forget to operate on them.”

Imber talks to Fresh Air about Halsted’s dual lives and about 19th century American medicine. Imber is an internationally known plastic surgeon who specializes in facial rejuvenation and noninvasive surgical techniques.

Please tell me if you have a book to recommend or review for April’s post.

Sharing Deep, Sharing Wide

One of my clients called last week to say,  “I love your newsletter but I want your blog delivered to my email too.”

No need. Every blog post for the preceding month is referenced in my monthly newsletter (along with some original content). Why do I do this?  My readers have lives of their own and I need to make it easy for them to access my information (duh).

The good people at ShareThis have a little application that can be inserted into blogs and websites. It enables readers to share what they’re reading via email and social media platforms in a couple of clicks/keystrokes. This gives ShareThis a unique vantage point from which to watch sharing behavior.

And what do they know? 46% of shared information reaches its new destination via email, in spite of social networking sites in the aggregate edging email out.

Tweets and Retweets

I owe a great deal of my traffic flow to Twitter, where I actively participate in financial, economic and marketing conversations and share what I’ve written as it’s appropriate.  At least a third of my blog traffic is Twitter generated, so I was surprised to read ShareThis stats on this beloved service:

We found that Twitter is the least engaging share platform with users visiting an average of 1.66 pages when they click through to a site, while users coming in off e-mail were the most engaged, visiting 2.95 pages (emphasis mine),  and Facebook trailing closely behind 2.76 page views. Of course this varies by vertical and site, but if you think about your own habits, it makes sense. Getting an emailed link from a friend may cause you to pay more attention than the more random discovery that you get on Twitter as you consume quick opinions. We think there is tremendous potential for Twitter to increase its engagement when and if better filters are applied – the type of filters that Facebook has built in from the start.

My best recommendation, even if you devote time to build your presence on Twitter, Facebook, LinkedIn and other sites, re-distribute your messages with a regular e-newsletter. A belt & suspenders approach to being heard.

SPAM Tweetup

Looking forward to seeing anyone who wants to talk about SPAM in Charlotte Weds, November 11 at 11:30 :

• Who decides when spam is officially SPAM
• Making sure you’re not mistaken for a spammer
• Best practices for email marketing (including newsletters)
• How to handle spammers

By nature, a tweetup is informal, so drop in at Mama Ricotta’s and meet some great tweeple. Not tweeting yet? This group might convince you to give it a twhirl.

End of Email?

Interesting article in WSJ about email’s younger, prettier communication sister: social media.

For those not using Twitter, Facebook and other means of connecting with the outside world, this WSJ quote explains the difference between them and ye olde email: “We all still use email, of course. But email was better suited to the way we used to use the Internet—logging off and on, checking our messages in bursts. Now, we are always connected, whether we are sitting at a desk or on a mobile phone. The always-on connection, in turn, has created a host of new ways to communicate that are much faster than email, and more fun.”

The story quoted Alex Bochannek, curator at the Computer History Museum in Mountain View, CA: “The whole idea of this email service isn’t really quite as significant anymore when you can have many, many different types of messages and files and when you have this all on the same type of networks.”

What’s this bode for email newsletters?

The article doesn’t make my point explicitly, but sets it up well. Email newsletters and all THOUGHTFUL communications have a place OUTSIDE social media. Said another way, to communicate thoroughly, thoughtfully and confidentially, if you can’t meet in person, start with email.

This mirrors my own experience, as a fairly active Twitter(er) who averages 30 daily updates.  For those of you not yet using Twitter, don’t take the impression that I have that much to say about myself — my tweets are usually in response to news items posted by other users or part of a conversation with my “followers” (feels a bit Jim Jones-ish calling them that, but oh well…that’s what they’re officially called).

Sure, I occasionally tweet out the odd “gonna clear my head by taking the dog for a walk” message, but the fun thing about social media is how people find you on the basis of these throwaway tweets. I now have a number of followers who send me pet food coupons and even Cesar Millan aka The Dog Whisperer follows me!

Belt & suspenders approach

Back to the topic at hand. For THOUGHTFUL, well-written communications, there is no substitute for email.  The only thing that comes close is what you syndicate through your RSS feed. However, people get busy and forget to check their readers. An occasional email poke to check the RSS feed will probably always be in order.

Here’s my belt & suspenders approach to being heard:

• My website is home base. It’s the hub of external communications
• Primary communications spokes
  • Blog and its RSS feed
  • Twitter
  • Newsletter
  • Email

1. When I post to my blog ( my website is actually a blogsite), it automatically sends a tweet with the title and a link for all the world to see. It also sends out an excerpt of the post through my RSS feed for those who’ve subscribed and to those directories like Alltop, that carry my content. Those who are linked to me via LinkedIn can see this excerpt on my profile page.  Anywhere that anyone sees an excerpt of my blog posts, they can click to read the whole thing on my blog.
2. I use Twitter to entice the Twitterverse to read my blog posts. With 140 characters per tweet, I use the url shortening service bitly to get the links down to 16 characters, then use what’s left to tease with leads like “Why Email Isn’t Dead.”
3. I also use Twitter to ask specific people to read or comment on posts, according to their inclination and expertise. I know who wants to read my posts about SPAM and who wants a financial blog writing prompt and who’s the best expert to comment on one of my posts. If I’m fortunate, some of my followers will “reTweet” what I’ve sent so their network of followers will have the opportunity to read something they would not have otherwise known existed.
4. When I get comments on the blog I Tweet that out to keep the conversation going. This helps those who’ve commented get their ideas in front of a wider audience, too. The least I can do.
5. My newsletter promises three things every month: something on whole-brain communications, a bit on brevity and updates on topics related to email marketing and newsletters. Eventually everything from the newsletter shows up in the blog. For those who don’t want to read every blog post or remind themselves to check my RSS feed in a reader, they can read my monthly newsletter and click through to anything else that might interest them in the blog. The newsletter is an efficient portal to all the information I offer.
6. I reserve email for my most formal and private correspondence. It’s also how I communicate with those not on social media.  As the WSJ article says, some things require attachments and confidentiality and email is the next-best thing to a tête-à-tête

OK, that’s my communications methodology.  What am I missing that works for you? Do tell (if you comment, I’ll tweet it out)!

Advice for those who need a ghostwriter

As a writer with some tech savvy and a general tendency to extroversion, social media works very well for me and and I’ve found a way to bind all my efforts together strategically. My experience is that those who invest the time in social media will benefit, but not everyone will want to make that investment. Fine.

If you’re a professional of any stripe, start with a custom newsletter written by yourself or a ghostwriter — not something you stick your logo on and call “customized.” No idea what to write? I offer news-driven writing prompts, if that helps.

Keep a consistent publishing schedule and maintain a searchable repository of your articles (not just prior newsletter editions, the individual articles) on your website. One of my clients does this so that we can eventually compile his newsletter articles into feature articles for professional journals. Another client’s newsletter articles go into his blog and will eventually become a book. Re-purpose your material.

My observation is that people are often reluctant to start small when they have big aspirations, but every desert is composed of tiny grains of sand. They add up.

ADDED 10-19-09

Further evidence of the power of Twitter: this morning one one of my tweeps, @derekhernquist, brought this video to my attention:

High Frequency Trading in Jobless Recovery

I follow an outstanding lineup of financial professionals and traders on Twitter. I learned about some of them through Stocktwits, which describes itself as “a social, stock microblogging service.” Stocktwits now offers a free desktop with more functionality than TweetDeck.

StockTwits is an open, community-powered idea and information service for investments. Users can eavesdrop on traders and investors, or contribute to the conversation and build their reputation as savvy market wizards. The service takes financial related data – using Twitter as the content production platform – and structures it by stock, user, reputation, etc.

While I’m not a trader or active investor, I enjoy the intelligent conversation of Stocktwits gurus like @aiki14 @Dasan @iron100 @ekanters @gregormacdonald @nelderini and others from around the world.  They’re quick to extrapolate from a world event to its effects on global economies, individual sectors and stocks.  (Note: follow Charlotte hometown favorite @kevinmhughes as he gains national notoriety).

Truckers and retirees now stock jockeys?

I thought my world view was skewed by my Stocktwits exposure to trading, where lots of folks new to trading and investing subscribe to the charts and advice of experts.  But then I saw an article on un-employed and un-retired people going into trading for the lack of other employment opportunities.   The next day The Daily Show ran a segment on the topic. Hmmm, something’s afoot.

I appreciate that there’s money to be made trading. But all the trading in the world doesn’t feed people, clean the environment or find a cure for cancer. And, as Samantha Bee points out in this piece, it’s not as easy as promoters would have us believe.

Writing prompts for financial professionals

• What tax considerations to high frequency traders & rookies overlook?
• If you’re a financial advisor, how do you advise would-be traders to allocate their overall portfolio in consideration of high frequency trade risks and returns?
• Review the different software products needed to pursue a career as a trader.
• How long does it take and how much do you need to lose before you figure out whether this career is a good fit for you? What’s the total investment, considering hardware, software and mentoring services?

Spamhaus: Cyber Crime Fighter

In September I had the pleasure of being a Twitter panelist on how to avoid the spam filters when emailing.  This is the third time I’ve spoken formally on the subject (if you consider tweeting “formal”).  By this third presentation, it struck me that spam is like porn, everyone thinks they know it when they see it, but few can define it in their own words.*

Looking for the most succinct explanation, I turned to the  Spamhaus Project, an international non-profit organization whose mission is to track the Internet’s spam operations, to provide dependable realtime anti-spam protection for internet networks, to work with law enforcement agencies to identify and pursue spammers worldwide, and to lobby governments for effective anti-spam legislation.

The word “spam” as applied to email means “unsolicited bulk email”

The two most important words there are UNSOLICITED and BULK.

Unsolicited means that the Recipient has not granted verifiable permission for the message to be sent.

Bulk means that the message is sent as part of a larger collection of messages, all having substantively identical content.

A message is Spam only if it is both Unsolicited and Bulk.

Unsolicited email is normal email, for example first contact inquiries, job inquiries and sales inquiries.

Bulk email is normal email, for example, subscriber newsletters, customer communications, discussion lists.

Point of clarification: The CAN-SPAM Act goes beyond the technical definition of spam; it applies to commercial email sent to recipients in the US and originated in the States. Download this CAN-SPAM Quick Guide.

*Wow your friends with your command of factoids

Justice Stewart

I’m not the first to use the phrase ” everyone thinks they know it when they see it.”  The origin is in a US Supreme Court case that helped define the legal standards for determining obscenity. Here’s a bit about the case.

In 1964, movie theater manager Nico Jacobellis was convicted of exhibiting an obscene movie, Louis Malle’s Les Amants, “The Lovers.” The ads were hyperbolic.

“When all conventions explode . . . in the most daring love story ever filmed!”

“As close to authentic amour as is possible on the screen.”

“The frankest love scenes yet seen on film.” “Contains one of the longest and most sensuous love scenes to be seen in this country.”

In the words of the Supreme Court decision: “‘The Lovers’ involves a woman bored with her life and marriage who abandons her husband and family for a young archaeologist with whom she has suddenly fallen in love. There is an explicit love scene in the last reel of the film, and the State’s objections are based almost entirely upon that scene. The film was favorably reviewed in a number of national publications, although disparaged in others, and was rated by at least two critics of national stature among the best films of the year in which it was produced.”

Although the film was shown in some 100 U.S. cities, including Columbus and Toledo, Ohio, Jacobellis was prosecuted for showing it in Cleveland Heights, a middle-class suburb of Cleveland. In a 6-3 decision, the Supreme Court decided that Jacobellis had been wrongly convicted.

The most famous opinion in the case came from Justice Potter Stewart, who said that the only unprotected material in his opinion was “hard-core pornography.” Stewart expressed his concern that such material was impossible to define. “But I know it when I see it.”

Me, the Twitter Panelist

I find Twitter to be an efficient and effective way to grow professionally and personally.

My friends at Understanding Marketing facilitate a weekly discussion on marketing and PR topics of interest to small business owners on TweetGrid and asked me to be the expert on call Tuesday 9/22/09 8-9om EST.

We’ll be discussing CAN-SPAM and how to write email marketing campaigns and e-newsletters so they won’t be scraped into the “junk” or “bulk” or “spam” filters of recipient mailboxes.

Since it’s a Twitter-based discussion, anyone can chime in with questions and answers — and it’s free.

If you have anything specific to ask and can’t attend next week, leave me a comment below and I’ll get it in.  Have a study or resource on the topic you’d like to share?  Again, leave a note below.

e-Newsletters: Track Them, You Must

The first week of the month is popular for publishing newsletters.  I publish the first week.  So with the June flurry largely passed, here’s food for thought before firing off your July edition.

"Do it, you must!"

In a study reported on MediaPost on email marketing (which isn’t exactly newsletter campaigns, but sufficiently related), roughly 18% of marketers admitted they were NOT tracking campaign performance.  Stunning.

Marketers that do not track normal site conversions

• Don’t know how      42.86%
• Don’t have budget     4.76
• Don’t have time        14.29
• Other                           38.08

Newsletter metrics

Of course I wish you were using my service, since it provides exquisitely detailed reporting, but no matter.  If you’re using an off-the-shelf provider, start with what you can track and pay attention.

How’s your open rate over time?  What about subscriber base?

Do specific topics generate a higher click-through rate?  A higher unsubscribe or forward rate?

Clients ask, I answer

Yesterday a client called for my input.  She wants to move her ad-sponsored printed newsletter clients over to an ad-sponsored blog and wanted to check her logic with me.  She asked why I bother to publish both a blog and a newsletter.

Answer: I want to make it easy for clients and prospects to hear from me.  My audience ranges from the tech-savvy  to the tech-impaired,  so whether they stream my blog to a reader or hit a blog post I’ve tweeted or look at the monthly newsletter in their inbox (and click through to the blog, or not) I’m doing the hard work so that they can skim what they need and move on with their lives.

This works for me because I’m *good enough* with technology, I have a sales and marketing background, and I love writing, a lucky combination.  Few people, including my client, have the same mix of strengths and preferences, so my advice to her and anyone else is to go with your strengths and minimize your weaknesses.

This might mean hiring a ghostwriter, but should never mean publishing an off-the-shelf newsletter.  Realtors can get away with recycled articles like carpet cleaning tips and how to stage a house for showings, but I can’t think of a profession besides theirs that should even consider it.

Goal-driven newsletters

From time to time I have tactical goals, like drumming up attendance for a speaking engagement, but my overall publishing goal (blog and newsletter) is client acquisition and retention.  I want to keep my services and expertise top of mind.  Someday, someone will remember I’m a Business Person who writes like an English Major and engage me.

Staying top of mind is also why I publish free blog/newsletter topics for clients and prospects in the industries I know best: financial services, consulting, services and environmental.  I exercise the “give to get” philosophy that feeding professionals ideas for their publishing endeavors will someday yield a harvest for me.

Whether your goal is converting readers to a seminar series or a sit-down session, you need to start with that goal,  figure out how to make it happen, and how to track what’s happening along the way.  With rare exception you’ll need to make corrections to your current path that will bring you to your goal.  But if you don’t know you’re off course, you can’t get back on track.

Unless you’re a statistician, analysis isn’t the sexiest thing you’ll do with your day.  But to quote Yoda, “Do it, you must.”  Feel free to reach out if you want my feedback.

Royal Whitepaper

When people take the time to read my b-card they’ll sometimes ask “What’s a whitepaper?”  I quote the verbiage on my site, which turns on the lights for about 2% of people.

With Google-driven marketing everyone should know what a white paper is and how they can use one.

Follow treebanker on Twitter

I had an “aha moment” this morning.  I decided to build a repository of white papers I like in different categories for general perusal.   First up, The Prince’s Rainforests Project Report, which I thank my Twitter follower, Dan Tefft for bringing to my attention.

Three-purpose post

This post suggests changes to the paper that would make it more engaging, discusses its core idea of Rainforest Bonds, and then offers writing prompts for professionals in environmental and financial services.

Reading like an editor

Professionally, I prefer minimizing passive voice and maximizing design to help the reader navigate a dense document such as this (52 pages).  Certain professions prefer passive voice (government and academia top the list) so I suppose a report on behalf of  a Cambridge-educated Royal conforms to expectations.

The summary as written: “Reducing tropical deforestation will be vital if the world is to avoid catastrophic climate change and preserve important ecosystem functions. An Emergency Package is needed to provide substantial funding to Rainforest Nations to help them address the drivers of deforestation and embark on alternative economic development paths. Rainforests cool the planet, regulate the water cycle and provide a home to countless species; it is right and essential that the world pays for these services.”

I’d rewrite: Rainforests cool the planet, regulate the water cycle and provide a home to countless species.  To preserve the world’s ecosystem functions and avoid catastrophic climate change, we must reduce tropical deforestation. The world should provide funding to Rainforest nations to help them address the drivers of deforestation and embark on alternative economic development paths.  Since the rainforests provide “services” essential to planetary life, justice dictates that those services be compensated.

Writing Prompts for Environmental, Financial Services

The Prince’s Report outlines a plan for “Rainforest Bonds,” a fixed-income security, issued in private capital markets.  Such bonds typically offer investors a fixed rate of return, normally an annual coupon, together with the repayment of the principal on maturity. Over US$400 billion of Sovereign, Supranational and Agency Bonds were issued in 2008. The Project has held discussions with pension funds and the insurance sector (through The Prince of Wales’ P8 and ClimateWise initiatives) which indicate that there would be significant demand for AAA-rated bonds with long-term maturities.

“Rainforest Bonds could be issued by the World Bank, or by an independent entity with support from the World Bank. The bonds would be guaranteed by developed country governments, which would be responsible for payment of the coupon and repayment of the principal.

“However, it may be possible to mitigate the financial calls on these governments, for example by channelling some of the money into green investments that would generate financial returns – this would have the added benefit of supporting broader clean development goals. Private sector bonds provide a way to raise large amounts of finance for tropical forests in the nearterm, while allowing underwriting governments the time to generate revenues for repayment from clean development investments, domestic carbon permit auctions or other schemes. The Prince’s Rainforests Project is working with the World Bank to develop this bond concept further.”

• Is the World Bank the right entity?  Or the only entity?
• In light of current global financial priorities, how would these bonds perform financially?
• Environmentally, are these bonds a powerful incentive to change economic development and human behavior?
• Any better options on the table?

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