@ieltsbank

,(/766SHDNLQJ0DVWHU
3ODQ

ߙ 0DVWHU6SHDNLQJ6WUDWHJLHV
6SHDNLQJ9RFDEXODU\IRUWKH5HDO
7HVW,QFOXGLQJ,(/76
6SHDNLQJ$FWLYLWLHV

,(/766SHDNLQJ%RRN

@ieltsbank
 *HW0DUF5RFKHߞV6WDUWHU
/LEUDU\)25)5((
6LJQXSIRUWKHQRVSDPQHZVOHWWHUDQGJHW
LQWURGXFWRU\ERRNVSURIHVVLRQDO(QJOLVKUHVRXUFHV
DQGORWVPRUHH[FOXVLYHFRQWHQWDOOIRU)5((
'HWDLOVFDQEHIRXQGDWWKHHQGRIWKHERRN

@ieltsbank
&RS\ULJKWj0DUF5RFKH

@ieltsbank
 &RS\ULJKWjE\0DUF5RFKH$OO5LJKWV5HVHUYHG
1RSDUWRIWKLV,(/76VSHDNLQJERRNPD\EHUHSURGXFHGGLVWULEXWHGRU
WUDQVPLWWHGLQDQ\IRUPRUE\DQ\PHDQVLQFOXGLQJSKRWRFRS\LQJUHFRUGLQJRU
RWKHUHOHFWURQLFRUPHFKDQLFDOPHWKRGVRUE\DQ\LQIRUPDWLRQVWRUDJHDQGUHWULHYDO
V\VWHPZLWKRXWWKHSULRUZULWWHQSHUPLVVLRQRIWKHSXEOLVKHUH[FHSWLQWKHFDVHRI
YHU\EULHITXRWDWLRQVHPERGLHGLQFULWLFDOUHYLHZVDQGFHUWDLQRWKHUQRQFRPPHUFLDO
XVHVSHUPLWWHGE\FRS\ULJKWODZ

7RSLFV&RYHUHGLQWKLVJXLGH
,(/76VSHDNLQJ,(/76SUDFWLFH,(/76ERRN,(/76YRFDEXODU\JUDPPDUIRU
,(/76

,'0,(/766SHDNLQJ$OOULJKWVUHVHUYHG

@ieltsbank
 &RQWHQWV
*HW0DUF5RFKHߞV6WDUWHU/LEUDU\)25)5((
,QWURGXFWLRQ
6FRULQJDQG%DQG'HVFULSWRUV
6(&5(77KH7UXWKDERXW\RXU6SHDNLQJ6NLOOV
$WWLWXGH
$YRLGZULWLQJLQGLYLGXDOZRUGVLQ\RXUQRWHERRN
9RLFH3RVWXUHDQG(\H&RQWDFWLQWKH,(/767HVW
&RQILGHQFHLQWKH,(/766SHDNLQJ7HVW
6(&5(79RLFH
9RFDO:DUPXSV
9RLFH3URMHFWLRQ([HUFLVH
9RLFH3URMHFWLRQ([HUFLVH
6(&5(73RVWXUH
6(&5(7(\H&RQWDFW
6(&5(7,(/7663($.,1*3$576(&5(76
83*5$'(\RXU,(/766SHDNLQJ
7DONLQJDERXWWKLQJV\RXOLNHDQGGLVOLNH
:KDWWRVD\ZKHQ\RXGRQ
WXQGHUVWDQG
6SHHG
(;$03/(3$57ZLWK1RWHVDQG6DPSOH$QVZHU
/HYHO6SHDNLQJ3KUDVHVIRU,(/763DUW
6(&5(7,(/7663($.,1*3$576(&5(76
3DUW([DP7ULFN
(;$03/(3$57ZLWK1RWHVDQG6DPSOH$QVZHU
6(&5(7,(/7663($.,1*3$576(&5(76
&OHDU&RPPXQLFDWLRQ&KHFNOLVW
:KHQWKHH[DPLQHUDVNV\RXDTXHVWLRQ\RXߞYHDOUHDG\WDONHGDERXW
6RFLDOO\6WUDQJHTXHVWLRQV
7RFODULI\ZKDW\RXMXVWVDLG

@ieltsbank
 :KDWWRVD\LI\RXQHHGWLPHWRWKLQNLQWKHH[DP
(;$03/(3$57ZLWK1RWHVDQG6DPSOH$QVZHU
/HYHO6SHDNLQJ3KUDVHVIRU,(/763DUW
35$&7,&(63($.,1*7(67
35$&7,&(63($.,1*7(67
35$&7,&(63($.,1*7(67
35$&7,&(63($.,1*7(67
35$&7,&(63($.,1*7(67
35$&7,&(63($.,1*7(67
35$&7,&(63($.,1*7(67
35$&7,&(63($.,1*7(67
,(/7635$&7,&(&$5'6
5HVWDXUDQWV )RRG
:RUN
-RE,QWHUYLHZV
,QYHQWLRQV
%RG\/DQJXDJH
6SRUWV
+REELHV
0XVLF 0RYLHV
&ULPH
&XOWXUH
0DQQHUV
&UHDWLYLW\
'DWLQJ
0HDQLQJRI(GXFDWLRQ
9DOXHRI(GXFDWLRQ
3ROLWLFV
+DYH\RXHYHUߨ"
0HHWLQJ3HRSOH
/LYLQJ$EURDG
6SDFH([SORUDWLRQ
)RRG
&RRNLQJ
7UDYHOOLQJ
6KRSSLQJ
)DVKLRQ
:HDWKHU
$QLPDOV
'ULYLQJ
7KH+XPDQ%RG\
&RORUVDQG1XPEHUV
)DPLO\
+RPH
)UHH7LPH
3XEOLF7UDQVSRUW
+RVSLWDO
3UREOHPV
0HGLD
+RWHOV
/DQJXDJHV
7HFKQRORJ\
$UW
+LVWRU\
%RRNV
,(/76&219(56$7,2148(67,216
:25.25678',(6
 '$<62))
 $*($7:25.
 -2%/2&$7,21
 :25.,1*)520+20(
 6&+22//2&$7,21
 678'<,1*$%52$'
 2)),&(/81&+
 $)7(5:25.6&+22/$&7,9,7,(6
 5(:$5'6$1'5(&2*1,7,21$7:25.
 7($0%8,/',1*
 :25.,1*+2856
 29(57,0(
 75$9(/
 (;3(5,(1&(
 -2%352027,21
 &2175$&76
 :25./,)(%$/$1&(
  0$1$*(0(17 /($'(56+,3
 )5((/$1&,1*
 ',))(5(17352)(66,216
 ('8&$7,21$1'-2%6
 3(5621$/675(1*7+6$1':($.1(66(6
 <285$0%,7,216
 -2%+233,1*
 6$/$5<
 &/$660$7(6&2:25.(56$1'3(5621$/,7<
 (0$,/
 7(&+12/2*<
3KRQHPLF&KDUW
'RZQORDG0DUF5RFKHߞV6WDUWHU/LEUDU\)25)5((
7KDQN\RX
 ߡ:LVHPHQVSHDNEHFDXVH
WKH\KDYHVRPHWKLQJWRVD\
)RROVEHFDXVHWKH\KDYHWR
VD\VRPHWKLQJߢ

3ODWR
 ,QWURGXFWLRQ

2NVR,EHOLHYHLQNHHSLQJWKLQJVVLPSOHZKHQHYHUSRVVLEOHVR,ߞPJRLQJ
WRNHHSWKLVLQWURGXFWLRQVKRUWVR\RXFDQIRFXVRQWKHLPSRUWDQWWKLQJV
7KLVPDVWHUSODQLVVLPSOH)ROORZLWDQG\RXZLOOLQFUHDVH\RXUVSHDNLQJ
EDQGVFRUH,QWKLVERRN\RXKDYHWKHWRROV\RXQHHGWRLQFUHDVH\RXU
VSHDNLQJVFRUHWRE\LPSURYLQJ\RXUYRFDEXODU\JUDPPDUDQG
FRKHUHQFH,KDYHQRWLQFOXGHGSURQXQFLDWLRQJXLGHVLQWKHERRNDV,NQRZ
WKDWSURQXQFLDWLRQFRPHVIURPKHDULQJ(QJOLVKDEVRUELQJWKHVRXQGVDQG
WKHQSUDFWLVLQJWKHP1RERRNFDQSURYLGHWKLVIRU\RXXQIRUWXQDWHO\DQG
DQ\ERRNVWKDWSURPLVHWRGRWKLVDUHQRWWHOOLQJ\RXWKHWUXWK2QOLQH
SURQXQFLDWLRQGLFWLRQDU\LVKHUHLI\RXZDQWWRFKHFNLWRXW
KWWSVGLFWLRQDU\FDPEULGJHRUJEURZVHSURQXQFLDWLRQHQJOLVK
7KH,(/76VSHDNLQJWHVWLVH[DFWO\WKHVDPHIRUERWK,(/76$FDGHPLF
DQGIRU,(/76JHQHUDO,WODVWVIRUWRPLQXWHVDQGFRQVLVWVRIWKUHH
SDUWV
3DUWRQHRIWKH,(/76VSHDNLQJWHVWLVEDVLFDOO\DQLQWURGXFWLRQIRU\RXDV
WKHFDQGLGDWHDQGIRUWKHH[DPLQHU,WJLYHV\RXERWKDQRSSRUWXQLW\WRJHW
FRPIRUWDEOHDQGJLYHVWKHH[DPLQHUDQLQLWLDOJHQHUDOLGHDRI\RXUOHYHORI
(QJOLVK7KHUH
VQRQHHGWRIHHOQHUYRXVKHUH,NQRZWKDWLW
VYHU\GLIILFXOW
QRWWRIHHODOLWWOHELWQHUYRXVEXWWU\WRWKLQNRIWKLVDVDIULHQGO\LQIRUPDO
FKDWZLWKDIULHQGRUDQDFTXDLQWDQFH7KHH[DPLQHUZDQWV\RXWRVXFFHHGLQ
WKH,(/76WHVWDQGLI\RXFDQVKRZ\RXUSHUVRQDOLW\DQGIHHOUHOD[HGHQRXJK
WRVKRZWKHH[DPLQHU\RXUOHYHORI(QJOLVK\RXZLOOVXFFHHG
 6FRULQJDQG%DQG'HVFULSWRUV
<RXGRQߞWQHHGPHWRUHSHDWWKHEDQGGHVFULSWRUVWKDWDUHSXEOLFO\
DYDLODEOHIURPWKH,(/76RUJZHEVLWH
)RUWKHSXEOLFYHUVLRQRIWKH,(/76VSHDNLQJDQGEDQGGHVFULSWRUVSOHDVH
YLVLW,(/76RUJ
KWWSVWDNHLHOWVEULWLVKFRXQFLORUJWHDFKLHOWVWHVWLQIRUPDWLRQDVVHVVPHQW
+HUHLVDGLUHFWOLQNWRWKH3')KWWSVZZZLHOWVRUJ
PHGLDSGIVVSHDNLQJEDQGGHVFULSWRUVDVK["OD HQ
6(&5(77KH7UXWKDERXW\RXU
6SHDNLQJ6NLOOV
 $WWLWXGH
$VWXG\RIWHHQDJHVWXGHQWVIRXQGWKDWVWXGHQWVZKRWKRXJKWRI
LQWHOOLJHQFHDVQRQIL[HGDQGFKDQJHDEOHZHUHPRUHOLNHO\WRJUDGXDOO\
LQFUHDVHWKHLUJUDGHVIRUWKHIROORZLQJWZR\HDUV,QWHUHVWLQJO\VWXGHQWVZKR
WKRXJKWRILQWHOOLJHQFHDVDIL[HGߝ\RXDUHZKDW\RXߞUHERUQZLWKߞIDFWRUVDZ
YHU\OLWWOHFKDQJHLQWKHLUJUDGHV%ODFNZHOOHWDO
$IWHUWKHLQLWLDOWHVWVWKHUHVHDUFKHUVWKHQSHUIRUPHGDQLQWHUYHQWLRQZLWK
VRPHRIWKHORZDFKLHYLQJVWXGHQWV7KH\WDXJKWWKHVWXGHQWVDERXWKRZWKHLU
EUDLQZRUNHGDQGKRZOHDUQLQJFKDQJHVWKHKXPDQEUDLQE\FUHDWLQJQHZ
FRQQHFWLRQV7KH\GULOOHGLQWRWKHPWKDW7+(<ZHUHLQFKDUJHRIFRQWUROOLQJ
WKLVSURFHVVDQGWKDWWKH\KDGWKHSRZHUWRFKDQJHWKHLUEUDLQWKURXJKWKHLU
GDLO\DFWLYLWLHV$PD]LQJO\JUDGHVIRUWKHJURXSRIVWXGHQWVZKROHDUQWDERXW
KRZWKHLUEUDLQZRUNHGLPPHGLDWHO\VWDUWHGWRLPSURYHZKLOHWKHJUDGHVRI
WKHVWXGHQWVZKRKDGQߞWUHFHLYHGWKHLQWHUYHQWLRQFDUULHGRQJHWWLQJZRUVH
7KLVKLJKOLJKWVMXVWKRZLPSRUWDQWLWLVIRU\RXWRIXOO\XQGHUVWDQGWKDW
<28DUHLQFRQWURORIKRZJRRG\RXDUHDWVRPHWKLQJ<RXUEUDLQLVKDUG
ZLUHGWRUHVSRQGWR\RXUDFWLRQVDQG\RXUHQYLURQPHQWVRRQFHDJDLQ<28
DUHLQFRQWURO
 $YRLGZULWLQJLQGLYLGXDOZRUGVLQ\RXUQRWHERRN
,GRQ
WUHFRPPHQGZULWLQJGRZQLQGLYLGXDOZRUGVLQ\RXUQRWHERRN
VLPSO\EHFDXVHZKHQ\RXGRWKLV\RXDUHZULWLQJDQGWKLQNLQJDERXWWKH
ZRUGRXWRIFRQWH[W7KLVPDNHVLWPRUHGLIILFXOWWRUHPHPEHUDQGPRUH
GLIILFXOWWRDFWXDOO\DSSO\LQUHDOOLIHRULQWKHH[DP:KDW,UHFRPPHQG\RX
GRLVZULWHGRZQYRFDEXODU\ZLWKLQVHQWHQFHV6RZKHQ\RXZULWHDVHQWHQFH
GRZQLQ\RXUQRWHERRN\RXXQGHUOLQHWKHNH\ZRUGVWKDWDUHGLIILFXOWRU
LPSRUWDQWDQGWKHQ\RXFDQZULWHDGHILQLWLRQRUH[SODQDWLRQLQ\RXURZQ
ZRUGV

'RQ
WFRS\GHILQLWLRQVWU\WRSDUDSKUDVHWKHPLQVWHDG
3DUDSKUDVLQJGHILQLWLRQVDOORZV\RXUEUDLQWRSURFHVVWKHPHDQLQJRIWKH
ZRUGDQGIRUFHVLWWRWKLQNDERXWWKHZRUGLQDUHDOOLIHFRQWH[W7KLVVSHHGV
XS\RXUOHDUQLQJDQGDOVRVSHHGVXS\RXUDELOLW\WRXVHODQJXDJHLQUHDO
VHQWHQFHVZKHQ\RX
UHVSHDNLQJ
 9RLFH3RVWXUHDQG(\H&RQWDFWLQWKH,(/767HVW
ߡ:HRIWHQUHIXVHWRDFFHSWDQLGHDPHUHO\EHFDXVHWKHWRQHRIYRLFHLQ
ZKLFKLWKDVEHHQH[SUHVVHGLVXQV\PSDWKHWLFWRXVߢߙ

)ULHGULFK1LHW]VFKH

9RLFHSURMHFWLRQSRVWXUHDQGH\HFRQWDFWGRQRWDSSHDULQWKHFULWHULDIRU
WKHH[DPEXWWKH\DUHYLWDOLI\RXZDQWWRJLYHWKHEHVWSRVVLEOHLPSUHVVLRQ
7KLQNDERXWLWIRUDVHFRQGLIWKHH[DPLQHULVVWUXJJOLQJWRKHDU\RXKHRU
VKHLVJHWWLQJYHU\OLWWOHH\HFRQWDFWIURP\RXDQG\RXDUHVORXFKLQJRYHU
\RXUFKDLUORRNLQJDWWKHIORRUWKH\DUHJRLQJWRKDYHVHULRXVSUREOHPV
XQGHUVWDQGLQJZKDW\RXߞUHVD\LQJ7KLVZLOOGHILQLWHO\DIIHFW\RXUEDQGVFRUH
2QWKHRWKHUKDQGLI\RXKDYHJUHDWSRVWXUHJUHDWH\HFRQWDFWDQGJUHDW
YRLFHSURMHFWLRQ\RXU(QJOLVKVSHDNLQJVNLOOVZLOOEHEHWWHUDQG\RXߞOOJHWD
KLJKHUVFRUHLQWKHWHVW7KHH[DPLQHUZLOOEHDEOHWRFRQQHFWZLWK\RXDQG
\RXߞOOEHPRUHIOXHQWEHFDXVH\RXߞOOEHSURYLGLQJKLPRUKHUZLWKHVVHQWLDO
LQIRUPDWLRQWKURXJKERG\ODQJXDJHYRLFHDQGH\HFRQWDFW,WZLOOEHHDVLHU
IRU\RXWRH[SODLQWKLQJVDQG\RXߞOOLQVWDQWO\IHHOPRUHFRPIRUWDEOHDQG
FRQILGHQW
 &RQILGHQFHLQWKH,(/766SHDNLQJ7HVW
$V,PHQWLRQHGDERYHLI\RXIRFXVRQPDLQWDLQLQJJUHDWSRVWXUHJUHDWH\H
FRQWDFWDQGJUHDWYRLFHSURMHFWLRQ\RXߞOOLQVWDQWO\EHPRUHIOXHQWDQGLWZLOO
EHHDVLHUIRU\RXWRH[SODLQ\RXULGHDV7KLVZLOOPDNH\RXIHHOPRUH
FRPIRUWDEOHDQGFRQILGHQWVWUDLJKWDZD\
:K\LVFRQILGHQFHLPSRUWDQW"&RQILGHQFHLVVRPHWKLQJWKDWLVUDUHO\
WDONHGDERXWZKHQSUHSDULQJIRU,(/76VSHDNLQJEXWLWߞVHVVHQWLDO
,I\RXKDYHHYHUVHHQDSURIHVVLRQDOVSRUWVSOD\HUZKRKDVORVWKLVRUKHU
FRQILGHQFH\RXߞOODOUHDG\NQRZWKDWFRQILGHQFHLVWKHGLIIHUHQFHEHWZHHQD
EDGSHUIRUPDQFHDQGDQRXWVWDQGLQJUHFRUGEUHDNLQJSHUIRUPDQFH,I\RX
KDYHQߞWVHHQWKLVKDSSHQLQVSRUWV,ZRXOGXUJH\RXWRORRNIRUVRPH
H[DPSOHVRQOLQH,WZLOOFKDQJH\RXUSHUVSHFWLYHRQWKH,(/76VSHDNLQJ
WHVW
&RPPXQLFDWLQJZLWKFRQILGHQFHLQ(QJOLVKLVDVNLOODQ\RQHFDQGHYHORS
,WMXVWWDNHVSDWLHQFHDQGDZLOOLQJQHVVWROHDUQIURPPLVWDNHV,WFRPHVGRZQ
WRSUDFWLFHSUDFWLFHDQGPRUHSUDFWLFH1RPDJLF-XVWSUDFWLFHDQG
ZLOOLQJQHVVWRQRWMXGJH\RXUVHOIVRWKDW\RXFDQDGDSWDQGOHDUQ
 6(&5(79RLFH

2QHRIWKHPDLQZD\VWRPDNHVXUHJLYHDJUHDWLPSUHVVLRQLQWKHVSHDNLQJ
H[DPLVWRWDONLQDPDQQHUWKDWPDNHVWKHH[DPLQHUZDQWWROLVWHQ<RXUWRQH
RIYRLFHSOD\VDNH\UROHLQKDYLQJSHRSOHQRWRQO\OLVWHQWRZKDW\RXߞUH
VD\LQJEXWXQGHUVWDQGLWDVZHOO7RQHLVFRPSULVHGRIDIHZNH\HOHPHQWV
SLWFKYROXPHSDFHDQGHPSKDVLV
3HRSOHKDYHDQLQVWLQFWLYHUHDFWLRQWRWKHWRQHRIVRPHRQHߞVYRLFHDQG\RX
ZDQWWKDWUHDFWLRQWREHSRVLWLYH7KLQNRIVRPHRQH\RXߞYHKHDUGWKDWKDVDQ
LQYLWLQJTXDOLW\WRWKHLUYRLFH$SRSXODUH[DPSOHLVDFWRU0RUJDQ)UHHPDQ
+HKDVDULFKGHHSH[SUHVVLYHYRLFHWKDWQDWXUDOO\GUDZVDWWHQWLRQ+LVYRLFH
DORQHKDVJLYHQKLPDFFHVVWRDQLPPHQVHDPRXQWRIRSSRUWXQLWLHVLQFOXGLQJ
WKHQDUUDWLRQRIVHYHUDOGRFXPHQWDULHV&RQWUDVWWKDWZLWKWKHYRLFHRI
VRPHRQH\RXGRQߞWOLNHWROLVWHQWRWKH\ߞUHRIWHQPRQRWRQHQDVDOO\DQG
XQDSSHDOLQJRYHUDOO(YHQLIZKDWWKH\ߞUHVD\LQJWR\RXKDVYDOXH\RXߞUHOHVV
OLNHO\WRDFFHSWWKHLUPHVVDJHEDVHGRQWKHWRQHRIWKHLUYRLFH
6RZKHQWKLQNLQJDERXW\RXURZQWRQHWU\WRHPXODWHWKHYRLFHVRIWKRVH
ZKRVXFFHVVIXOO\FDSWXUH\RXUDWWHQWLRQ7KLVGRHVQRWPHDQ\RXVKRXOGEH
GRLQJDQLPSUHVVLRQRIVRPHRQHHOVHEXWVLPSO\ZRUNLQJZLWKLQWKHQDWXUDO
UDQJHRI\RXURZQYRLFH<RXVKRXOGQRWKDYHWRVWUDLQ\RXUVHOIRU\RXUYRFDO
FRUGVWRDFKLHYHDGHVLUDEOHWRQH
3HRSOHZKRVSHDNLQDGHHSHUYRLFHDUHFRQVLGHUHGWRKDYHPRUHDXWKRULW\
WKDQRWKHUVDFFRUGLQJWRUHVHDUFKGRQHE\WKH8QLYHUVLW\RI3LWWVEXUJK6RPH
WKHRUL]HWKLVFRQQHFWLRQFRPHVIURPZKHQSK\VLFDOSRZHUZDVXVHGDVD
PHDVXUHRIDXWKRULW\DQGDGHHSYRLFHJHQHUDOO\ZHQWKDQGLQKDQGZLWKD
VWURQJHUERG\6RZKHQ\RXߞUHORRNLQJWRFRPPDQGWKHDWWHQWLRQRIRWKHUV
LWߞVLPSRUWDQWWRXVHWKHORZHUUDQJHRI\RXUYRLFHZLWKRXWJRLQJVRIDUDVWR
SXWRQDFDUWRRQLVKYRLFH
6SHDNLQJGHHSO\GRHVQߞWPHDQVSHDNLQJIODWO\WKRXJK,WߞVLPSRUWDQWWR
FKDQJH\RXUWRQHDV\RXVSHDNWRPDLQWDLQLQWHUHVWDQGFRQYH\HPRWLRQDO
LQIRUPDWLRQ:LWKRXWDYDULDQFHLQWRQHLWEHFRPHVQHDUO\LPSRVVLEOHWR
FRPPXQLFDWH\RXUH[FLWHPHQWDQGHQWKXVLDVP
3HUKDSVWKHHDVLHVWWHFKQLTXHIRUKROGLQJSHRSOHߞVDWWHQWLRQLVWRVLPSO\
VSHDNVORZHUDQGWRHPSKDVL]HWKHPRVWLPSRUWDQWZRUGVLQHDFKVHQWHQFH
1RWRQO\GRHVLWJLYH\RXPRUHWLPHWRWKLQNWKURXJKZKDW\RXߞUHVD\LQJLW
JLYHVWKHOLVWHQHUPRUHWLPHWROHW\RXUPHVVDJHVLQNLQDQGWUXO\XQGHUVWDQG
LW,WWDNHVHIIRUWWRDFWXDOO\OLVWHQWRZKDWVRPHRQHLVVD\LQJVRJLYLQJ\RXU
OLVWHQHUPRUHWLPHZLOOKHOSERWKRI\RXLPPHQVHO\
'RQߞWEHDIUDLGWRWDNHDORQJSDXVHEHWZHHQWKRXJKWVDVZHOO$VLOHQW
PRPHQWH[SUHVVHVFRQILGHQFHPXFKEHWWHUWKDQDWWHPSWLQJWRILOOWKHVLOHQFH
ZLWKߡXPߢRUߡXKߢ
:KHQSUHSSLQJIRU\RXUWHVWMXVWUHPHPEHUWRWDONORZVORZZLWK
HPSKDVLVDQGZLWKYDULHGWRQH
 9RFDO:DUPXSV
%UHDWKHWKURXJK\RXUGLDSKUDJP
6WD\UHOD[HGDURXQG\RXUKHDGQHFNDQGVKRXOGHUDUHDV
0DNHDFRQVFLRXVHIIRUWWRGRWKLVLQLWLDOO\EXW\RXߞOOQRWLFHKRZDV\RX
IRUPWKHKDELWLWZLOOEHFRPHPRUHDXWRPDWLF
 9RLFH3URMHFWLRQ([HUFLVH
,I\RXIHHOQHUYRXVZKHQ\RXVSHDNSUDFWLVHWKLVYRFDOZDUPXSH[HUFLVH
EHIRUH
)RFXVRQYROXPH,QFUHDVLQJWKHYROXPHRI\RXUYRLFHWRDSRLQWZKHUH
\RXߞUHORXGHUZLWKRXWVKRXWLQJLVDQHVVHQWLDODVSHFWRISURMHFWLQJLQ(QJOLVK
<RXUDEGRPLQDODUHDVKRXOGH[SDQGRXWZDUGVDV\RXEUHDWKHLQDQGFRQWUDFW
DV\RXEUHDWKHRXWWRJHWWKHEHVWUHVXOWV
 %HJLQE\SURQRXQFLQJYRZHOVRXQGV6WDUWLQJZLWKߡDKKߢDVLQWKH
ZRUGߡEDUߢSURQRXQFHGEȑʐEHJLQYRFDOLVLQJWKHVRXQGVVRIWO\
DQGJUDGXDOO\LQFUHDVLQJ\RXUYROXPHWREHORXG
 ,WߞVLPSRUWDQWWRXQGHUVWDQGWKDWZKHQ\RXߞUHORXG\RXVKRXOGQRW
EHVKRXWLQJ7KLQNRIWKHGLIIHUHQFHEHWZHHQWDONLQJWRVRPHRQH
GLUHFWO\LQIURQWRI\RXDQGVRPHRQHDIHZIHHWDZD\7KDWVKRXOG
EHWKHGLIIHUHQFHEHWZHHQ\RXUVRIWDQGORXGYRLFH
 5HYHUVHWKHH[HUFLVHDQGJRIURPORXGWRVRIW
,I\RXߞUHIHHOLQJDVWUDLQRQWKHORXGHQGRIWKLQJVWKHQ\RXߞUHWU\LQJWRR
KDUG5HPHPEHUWREHJHQWOH
)LQDOO\FRPELQHWKHH[HUFLVHVDQGJRIURPVRIWWRORXGDQGWKHQDJDLQ
IURPVRIWWRORXGVHYHUDOWLPHVIRUDVORQJDV\RXOLNH
7KLVH[HUFLVHFDQEHGRQHZLWKRWKHUYRZHOVRXQGVVXFKDVߡRRߢDVLQ
ߡERRߢSURQRXQFHGEXʐߡRKߢDVLQߡKROHߢSURQRXQFHGKșɊOߡDZߢDVLQ
ߡUDZߢSURQRXQFHGUȔʐߡD\ߢDVLQߡED\ߢSURQRXQFHGEHȪDQGߡHHߢDVLQ
ߡVHHߢSURQRXQFHGVLʐ)RUDSURQXQFLDWLRQJXLGHEHVXUHWRFKHFNRXWWKH
SKRQHWLFFKDUWUHVRXUFHDWWKHHQGRIWKLVERRN
&RXQWLQJWRWHQLVDOVRDQHIIHFWLYHYROXPHH[HUFLVH<RXFDQPRYH
JUDGXDOO\VWDUWLQJVRIWDWDQGHQGLQJORXGDWRUYLFHYHUVD<RXFDQDOVR
PDNHDSDWWHUQKDYLQJHYHU\WKLUGQXPEHUVSRNHQORXGO\RUVRPHWKLQJ
VLPLODUWRWKDW3OD\DURXQGZLWKLWDQGILQGZKDWZRUNVEHVWIRU\RX+DYH
IXQDQGPDNHLWSDUWRI\RXUURXWLQH
 9RLFH3URMHFWLRQ([HUFLVH
8VLQJDFRPELQDWLRQRIVLQJOHZRUGVSKUDVHVDQGVHTXHQFHV\RXZLOO
OHDUQKRZWRSURMHFWE\LQWRQLQJZRUGVDQGSKUDVHV7KLVPHDQV\RXZLOO
HPSKDVL]HDQGOHQJWKHQYRZHOVRXQGVZKLFKVKRXOGFUHDWHDULFKHUVRXQG
:KHQFKRRVLQJZRUGVDQGSKUDVHVEHVXUHWRXVHZRUGVWKDWVWDUWZLWKWKH
VDPHVRXQGߡP\PRDQLQJPRWKHUߞVPDJQLILFHQWPLVWDNHߢ:DWFKWRPDNH
VXUH\RXGRQߞWWHQVHXSWKHPXVFOHVLQ\RXUKHDGDQGQHFNDV\RXSHUIRUP
WKLVH[HUFLVH5HPHPEHUWRUHOD[
2IFRXUVHYRFDOSURMHFWLRQFDQEHGLIILFXOWWRPDVWHUDQGLPSURSHU
SUDFWLFHRIWKHVHWHFKQLTXHVFRXOGGDPDJH\RXUYRFDOFRUGV,I\RXGRQRW
IHHOFRQILGHQWSHUIRUPLQJWKHVHH[HUFLVHV\RXUVHOIRULI\RXEHJLQWRIHHODQ\
GLVFRPIRUWRUVWUDLQWKHQVWRSLPPHGLDWHO\DQGILQG\RXUVHOIDYRFDOFRDFKWR
KHOS\RXZLWK\RXUWHFKQLTXH
 6(&5(73RVWXUH

ߡ%RG\ODQJXDJHDQGWRQHRIYRLFHQRWZRUGVDUHRXUPRVW
SRZHUIXODVVHVVPHQWWRROVߢ

&KULVWRSKHU9RVV

<RXUSRVWXUHLVDELJSDUWRI\RXUVSHDNLQJEHOLHYHLWRUQRW7KLVLV
EHFDXVHLWDIIHFWVHYHU\WKLQJ\RXVD\1RWRQO\GRHVLWDIIHFWWKHTXDOLW\RI
\RXUYRLFHEXWLWDOVRDIIHFWVKRZRWKHUVLQWHUSUHW\RXUZRUGV7KHH[DPLQHU
LVQRWDPDFKLQHDQGZLOOEHLQIOXHQFHGE\\RXURYHUDOOFRPPXQLFDWLRQ
VNLOOVDVZHOODV\RXU(QJOLVK
&HUWDLQKDELWVFDQPDNH\RXUYRLFHWHQVHZKLFKKDVDQHJDWLYHLPSDFWRQ
\RXUSHUIRUPDQFHDVDFRPPXQLFDWRU,I\RXFRQVWDQWO\VORXFKEHFDXVH\RX
UH
DOZD\VORRNLQJGRZQDW\RXUSKRQHRUODSWRSWKLVZLOODIIHFW\RXUYRLFHDV
\RX
OOEHSODFLQJH[WUDVWUHVVRQWKHQHFNDQGYRLFHER[DUHD7U\WRVWDQGXS
VWUDLJKWDVPXFKDVSRVVLEOHDQGWU\WRPRQLWRUDQGFRUUHFW\RXUSRVWXUHDV
PXFKDVSRVVLEOH
&RPELQHEUHDWKLQJWKURXJK\RXUGLDSKUDJPDQGVWD\LQJUHOD[HGDURXQG
\RXUKHDGQHFNDQGVKRXOGHUDUHDVZLWKDJRRGSRVWXUHߙWKDWPHDQVQR
OHDQLQJRUVORXFKLQJUHJDUGOHVVRIZKHWKHU\RXߞUHVWDQGLQJRUVLWWLQJߙDQG
\RXߞOOEHLQDSULPHSRVLWLRQWRPDNHYRFDOSURMHFWLRQDVHDV\DVSRVVLEOH
7RKHOSNHHS\RXUSRVWXUHLQFKHFNXVHDQDFWLRQRUHYHQWWKDWRFFXUV
UHJXODUO\LQ\RXUOLIHVXFKDVFKHFNLQJ\RXUSKRQHDVDUHPLQGHUWRFKHFNLQ
RQ\RXUSRVWXUH&KHFNWRVHHWKDW\RXߞUHUHOD[HG\RXUVSLQHLVVWUDLJKWDQG
\RXߞUHQRWDFFLGHQWDOO\FOHQFKLQJ\RXUWHHWKRUXQQHFHVVDULO\VWUDLQLQJSDUWV
RI\RXUERG\
,WߞVLPSRUWDQWWRUHPHPEHUWKDWSURMHFWLQJ\RXUYRLFHVKRXOGQRWEH
FDXVLQJDQ\VWUDLQRQ\RXUFRUGVRUDQ\RWKHUSDUWRI\RXUERG\,I\RXIHHO
DQ\VWUDLQWKHQ\RXߞUHQRWSURMHFWLQJ\RXߞUH\HOOLQJ5HPHPEHUWRIRFXVRQ
EHLQJJHQWOHZLWK\RXUYRFDOFRUGVDV\RXSUDFWLFHDQGWRUHDVVHVV\RXU
WHFKQLTXHLI\RXVWDUWWRIHHODQ\VWUDLQ

@ieltsbank
 6(&5(7(\H&RQWDFW

,WߞVHDV\WRPHVVXSDQGUHDOO\KDUGWRGRSURSHUO\,I\RXGRLWWRRPXFKLW
EHFRPHVWKUHDWHQLQJEXWWKHQQRWHQRXJKRILWFDQDOVRKDYHDQHJDWLYH
HIIHFW
,QDVWXG\GRQHE\-DSDQHVHUHVHDUFKHUVYROXQWHHUVZDWFKHGDYLGHRRI
VRPHRQHߞVIDFHZKLOVWVROYLQJDZRUGFKDOOHQJHLQZKLFKWKH\KDGWRWKLQNRI
YHUEVWRPDWFKGLIIHUHQWQRXQV)RUH[DPSOHLIWKH\KHDUGߡEDOOߢWKHZRUG
ߡNLFNߢZRXOGEHORJLFDO
$PD]LQJO\DVVRRQDVWKHIDFHLQWKHYLGHRDSSHDUHGWREHPDNLQJH\H
FRQWDFWZLWKWKHPWKHYROXQWHHUVVWDUWHGKDYLQJSUREOHPVZLWKWKHPRUH
GLIILFXOWQRXQV(YHQZLWKDVWUDQJHULQDYLGHRH\HFRQWDFWLVVRSRZHUIXO
WKDWLWXVHVWKHSHUVRQߞVFRJQLWLYHUHVHUYHVOHDYLQJKLPRUKHUXQDEOHWR
HIIHFWLYHO\FRQFHQWUDWHRQDQ\WKLQJHOVH
,I\RXIHHOQHUYRXVLQ(QJOLVKDQGVWUXJJOHWRPDNHVWURQJH\HFRQWDFW
SUDFWLFHJD]LQJWRZDUGV\RXUH[DPLQHUߞVIDFHWRVWUHQJWKHQWKHFRQQHFWLRQ
ZKLOH\RXߞUHGHOLYHULQJ\RXUPHVVDJHEXWGRQߞWZRUU\WRRPXFKDERXW
PDNLQJDFWXDOH\HFRQWDFWDOOWKHWLPH$VWXG\XVLQJH\HWUDFNLQJWHFKQRORJ\
FDUULHGRXWE\(&8UHVHDUFKHUVJDYHVXUSULVLQJUHVXOWVDVWRWKHLPSRUWDQFH
RIH\HFRQWDFW
'XULQJWKHVWXG\RQHRIWKHUHVHDUFKHUVHQJDJHGLQVKRUWIRXUPLQXWH
FRQYHUVDWLRQVZLWKWHVWVXEMHFWV,QWKHFRQYHUVDWLRQVERWKSHRSOHZRUH
H\HWUDFNLQJJRJJOHV)RUDURXQGRIWKHLQWHUDFWLRQVWKHSHUVRQ
FRQGXFWLQJWKHWHVWVORRNHGDWWKHVXEMHFWߞVH\HVWKHPDMRULW\RIWKHWLPHDQG

@ieltsbank
IRUWKHRWKHUKHJD]HGPRVWO\DWWKHPRXWK
)ROORZLQJHDFKRIWKHFRQYHUVDWLRQVWKHYROXQWHHUVHYDOXDWHGKRZPXFK
WKH\HQMR\HGWKHLQWHUDFWLRQV,QWKHFRQYHUVDWLRQVZKHUHWKHUHVHDUFKHUKDG
EHHQORRNLQJPDLQO\DWWKHYROXQWHHUVߞPRXWKVWKH\UHSRUWHGWKHVDPHOHYHOV
RIH\HFRQWDFWDQGHQMR\HGWKHLQWHUDFWLRQVMXVWDVPXFKDVZKHQWKH
UHVHDUFKHUPDGHGLUHFWH\HFRQWDFW
7KLVUHVHDUFKVXJJHVWVWKDWJD]LQJDWSHRSOHߞVIDFHSURGXFHVWKHVDPH
HIIHFWVDVGLUHFWH\HFRQWDFW6RLI\RXߞUHQRWFRPIRUWDEOHZLWKPDNLQJ
FRQILGHQWH\HFRQWDFWDOOWKHWLPHGRQ
WEHWRRZRUULHG
 6(&5(7,(/7663($.,1*
3$576(&5(76
,QWKLVVHFWLRQ\RXߞOOILQGDVDPSOHVSHDNLQJWHVWSDUWWKDWZHߞUHJRLQJWR
GLVVHFWRQHTXHVWLRQDWDWLPH)RUHYHU\TXHVWLRQ\RXߞOOILQGVRPHJXLGH
QRWHVXQGHUQHDWKZLWKDVDPSOHUHVSRQVHDQGVRPHWLSV
7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDWWKHVWDUWRIWKHWHVWDQG
WKHQDVN\RXIRU\RXUQDPHDQG,'EHIRUH\RXVWDUW

7LSV
(\HFRQWDFW
$FWLYHOLVWHQLQJ
2SHQERG\ODQJXDJH
6SHDNXS

6WD\FDOPDQGIRFXVRQH[SUHVVLQJ\RXULGHDVFOHDUO\
7U\WROHDUQVPDOOVWUXFWXUHVDQGH[SUHVVLRQVWKDW\RXFDQXVHLQGLIIHUHQW
VLWXDWLRQV<RXFRXOGFDWHJRULVHWKHVWUXFWXUHVE\WRSLFDQGPDNHQRWHVLQ
\RXUQRWHERRNRUGLDU\WRJHWKHUZLWKH[DPSOHV7U\WRXVHWKHVHH[SUHVVLRQV
DQGVWUXFWXUHVLQGLIIHUHQWVHQWHQFHV3UDFWLVHXVLQJWKHPLQGLIIHUHQW
VHQWHQFHVDWKRPHLQIURQWRIWKHPLUURU7KHQSUDFWLFHDQVZHULQJ,(/76
VSHDNLQJTXHVWLRQVDQGXVLQJWKHVHH[SUHVVLRQVVRWKDW\RXJHWXVHGWR
VSHDNLQJWKHPDQGXVLQJWKHPLQUHDO(QJOLVK<RXZLOOWKHQILQGLWDORW
HDVLHUWRDSSO\WKHVHGLIIHUHQWH[SUHVVLRQVLQWKHH[DPDQGWKH\ZLOOPDNH
\RXU(QJOLVKVRXQGDORWEHWWHU7KHH[DPLQHUVZLOOJHWDPXFKEHWWHU
LPSUHVVLRQRI\RXUOHYHORI(QJOLVKLI\RXGRWKLV

)RFXVRQVSHDNLQJIUHHO\
 )RFXVRQVSHDNLQJIUHHO\RQDQ\WRSLFWKDWWKHH[DPLQHUDVNV\RXDERXW
EXWDYRLGVSHDNLQJTXLFNO\0DQ\VWXGHQWVVSHDNTXLFNO\LQLQWKHH[DP
EHFDXVHWKH\WKLQNWKDWWKDWLVZKDWZLOOPDNHWKHPVRXQGPRUHIOXHQWRU
EHFDXVHWKH\IHHOQHUYRXV7KLVLVYHU\QDWXUDOEXW\RXVKRXOGDYRLG
VSHDNLQJWRRIDVW,QVWHDG\RXVKRXOGVWDUWWKHH[DPE\VSHDNLQJVORZO\DQG
WKHQPDLQWDLQWKDWSDFHIRUWKHUHVWRIWKHFRQYHUVDWLRQ

:DUQLQJWKHH[DPLQHUZLOOSUREDEO\LQWHUUXSW\RXGXULQJWKHWHVW
'RQ
WWDNHWKLVSHUVRQDOO\LW
VSHUIHFWO\QRUPDO7KHUHDVRQZK\WKH\GR
WKLVLVEHFDXVHWKH\KDYHWRPDQDJHWLPH7KH\RQO\KDYHWRPLQXWHV
DQGWKH\
UHQRWDVVHVVLQJ\RXULGHDV6RWKH\
UHQRWWKHUHWROLVWHQWR\RXU
LGHDVDQGGHFLGHZKHWKHU\RX
UHULJKWRUZURQJ7KH\DUHRQO\WKHUHWRDVVHVV
\RXUODQJXDJH6RRQFHWKH\UHDOLVHWKDW\RXKDYHXQGHUVWRRGWKHTXHVWLRQ
DQG\RX
UHDEOHWRDQVZHULWFRUUHFWO\ZLWKFRUUHFWJUDPPDUYRFDEXODU\
VWUXFWXUHVRUJDQLVDWLRQDQGSURQXQFLDWLRQWKH\PRYHWRWKHQH[WTXHVWLRQ6R
GRQ
WWDNHLWSHUVRQDOO\HYHU\ERG\JHWVLQWHUUXSWHGGXULQJWKHWHVW
 83*5$'(\RXU,(/766SHDNLQJ

7DONLQJDERXWWKLQJV\RXOLNHDQGGLVOLNH
,IWKHH[DPLQHUDVNV\RXDERXWVRPHWKLQJ\RXOLNHRUGLVOLNHLQVWHDGRI
VD\LQJ
,OLNHIRRWEDOO
RU
,GRQ
WOLNHJROI
\RXFRXOGVD\VRPHWKLQJOLNH

IRRWEDOODSSHDOVWRPHEHFDXVH
RU
JROIGRHVQ
WDSSHDOWRPH
EHFDXVH


7KLVZLOOLQVWDQWO\JLYHDEHWWHULPSUHVVLRQEHFDXVH\RX
UHVWLOONHHSLQJLW
VHPLIRUPDODQG\RX
UHVWLOOXVLQJQDWXUDOODQJXDJHEXW\RX
UHVKRZLQJWKDW
\RXNQRZH[SUHVVLRQVWKDWQDWLYHVSHDNHUVXVHDOOWKHWLPH
$QRWKHUZD\RIWDONLQJDERXWWKLQJVWKDW\RXOLNHRUGRQ
WOLNHLVWRVD\
VRPHWKLQJOLNH

,JHWDORWRISOHDVXUHRXWRIZDWFKLQJIRRWEDOO

RU
,JHWDORWRISOHDVXUHRXWRISOD\LQJIRRWEDOO

,QWKHQHJDWLYH

,GRQ
WJHWPXFKSOHDVXUHRXWRISOD\LQJJROI

RU
,GRQ
WJHWPXFKSOHDVXUHRXWRIZDWFKLQJJROI


,I\RX
UHWDONLQJDERXWDURXWLQHWKDW\RXOLNHIRUH[DPSOH\RXFRXOGVD\
VRPHWKLQJOLNH
,
PIRQGRI

,
PIRQGRI
MXVWPHDQV
,OLNH
EDVLFDOO\DQG
,
P
QRWIRQGRI
LV
,GRQ
WOLNH

6RIRUH[DPSOH\RXFRXOGVD\

,DPTXLWHIRQGRIZDONLQJLQWKHSDUNRQVXQQ\GD\V,OLNHWRVLWDQGUHDG
RQDEHQFKDQGHQMR\WKHVXQVKLQH,WPDNHVPHIHHOUHOD[HGDQGLWKHOSVPH
WRXQZLQG

 ,I\RXDUHWDONLQJDERXWVRPHWKLQJWKDW\RXKDYHHQMR\HGIRUDORQJSHULRG
RIWLPH\RXFDQWDONDERXWVRPHWKLQJWKDW\RX
KDYHJURZQIRQGRI

6R\RXFRXOGVD\IRUH[DPSOH

,
YHJURZQIRQGRIP\FDUDQG,GRQ
WZDQWWRFKDQJHLW

RU
,
YHJURZQIRQGRIP\SKRQHDQG,GRQ
WZDQWWRXSJUDGHLW


:KDWWRVD\ZKHQ\RXGRQ
WXQGHUVWDQG
,I\RXVD\
ZKDW"
WKDWFRPHVDFURVVDVDOLWWOHELWUXGHLQDVHPLIRUPDO
VLWXDWLRQDQGLI\RXVD\
,GLGQ
WXQGHUVWDQG&DQ\RXUHSHDWSOHDVH"
LW
VRXQGVXQQDWXUDODVLW
VQRWVRPHWKLQJWKDWDQDWLYHVSHDNHURUVRPHERG\
ZKRKDVDKLJKOHYHORI(QJOLVKZRXOGQRUPDOO\VD\LQDFRQYHUVDWLRQ
:KHQ\RXGRQ
WXQGHUVWDQGZKDWWKHH[DPLQHUKDVMXVWVDLGLW
VEHWWHUWR
VD\VRPHWKLQJOLNH

6RUU\,GLGQ
WTXLWHFDWFKWKDW


6RUU\FRXOG\RXVD\WKDWDJDLQSOHDVH"

&RXOG\RXH[SODLQZKDW\RXPHDQE\"

7KLVODVWH[DPSOHLVSHUIHFWZKHQ\RXGRQ
WXQGHUVWDQGVRPHRIWKH
YRFDEXODU\WKHH[DPLQHUKDVMXVWXVHG6RIRUH[DPSOHLIWKHH[DPLQHUDVNV
\RXDTXHVWLRQDQG\RXGRQ
WXQGHUVWDQGRQHRIWKHZRUGV\RXFRXOGVD\

VRUU\FRXOG\RXH[SODLQZKDW\RXPHDQE\UHGXQGDQF\"
:KLOH\RXVKRXOG
NQRZZKDWUHGXQGDQF\PHDQVLQWKHH[DPLW
VDOZD\VEHWWHUWRDVNWKH
H[DPLQHULI\RXGRQ
WNQRZDQGE\DVNLQJKLPRUKHUZLWKWKLVSKUDVH\RXߞUH
SURYLQJWKDW\RXKDYHDKLJKOHYHORI(QJOLVK7KHVHVWUXFWXUHVDUHDOVRPRUH
QDWXUDODQGSROLWHUDWWKHVDPHWLPH

6SHHG
7KHH[DPLQHUZLOOQRWPDUN\RXGRZQIRUVSHDNLQJVORZO\WKHRQO\WLPH
ZKHQWKH\PLJKWSHQDOLVH\RXLVLI\RXVWRSRUSDXVHFRQVWDQWO\EHFDXVH\RX
GRQ
WNQRZWKHZRUGWKDW\RXZDQWWRVD\6RIRFXVRQVSHDNLQJIUHHO\DQG
VORZO\VWD\LQJFDOPDQGNHHSLQJDFRQVWDQWOHYHORILQWHUDFWLRQZLWKWKH
H[DPLQHU
5HPHPEHUWKDWVRPHSHRSOHVSHDNTXLFNO\DQGVRPHSHRSOHVSHDNVORZO\
7KHH[DPLQHUGRHVQRWNQRZLI\RXQRUPDOO\VSHDNYHU\TXLFNO\RULI\RX
QRUPDOO\VSHDNYHU\VORZO\VRWDNHDGYDQWDJHRIWKLVDQGWDNH\RXUWLPH
 (;$03/(3$57ZLWK1RWHVDQG6DPSOH$QVZHU
/HWߞVWDONDERXW\RXURXWGRRUKREELHV
'R\RXSUHIHULQGRRUKREELHVRURXWGRRUKREELHV":K\"

1RWHV
'R\RXSUHIHULQGRRUKREELHVRURXWGRRUKREELHV",QWKLVTXHVWLRQWKH\
UH
MXVWDVNLQJIRUDQLQWURGXFWLRQWR\RXUGDLO\DFWLYLWLHVRU\RXUKREELHV<RX
GRQ
WQHHGWRH[SDQGWRRPXFKRQWKHDQVZHU<RXMXVWQHHGWRJLYHD
UHDVRQDEO\FRPSOHWHDQVZHU
6RIRUH[DPSOH\RXFRXOGVD\VRPHWKLQJOLNH
:HOOWKDW
VDQLQWHUHVWLQJ
TXHVWLRQ,DFWXDOO\HQMR\ERWKLQGRRUKREELHVDQGRXWGRRUKREELHV,WKLQN
WKDWLW
VYHU\LPSRUWDQWWRKDYHDEDODQFHRIERWKVRWKDW\RXFDQVSHQGVRPH
WLPHLQWKHIUHVKDLUGRVRPHH[HUFLVHDQGVWD\KHDOWK\)RUH[DPSOH,WR
SOD\IRRWEDOORQFHDZHHN,DOVRWKLQNLW
VLPSRUWDQWWRVSHQGVRPHWLPH
LQGRRUVDQGEHDEOHWRUHOD[DQGUHDGRUPD\EHSXUVXHVRPHVRUWRI
OHDUQLQJ)RULQVWDQFH,OLNHWROHDUQ(QJOLVKDQG6SDQLVK

:KDWNLQGRIRXWGRRUKREELHVGR\RXHQMR\":K\GR\RXHQMR\WKHP"

1RWHV
:KDWNLQGRIRXWGRRUKREELHVGR\RXHQMR\DQGZK\GR\RXHQMR\WKHP"
,QWKLVTXHVWLRQWKH\
UHDVNLQJ\RXWRH[SDQGDOLWWOHELWIXUWKHU:KDW\RX
QHHGWRGRKHUHLVFKRRVHSHUKDSVRQHWZRRUPD\EHDPD[LPXPRIWKUHH
KREELHVWRWDONDERXWDQG\RXQHHGWRJLYHWKHPDVXEVWDQWLDOUHDVRQZK\\RX
OLNHHDFKRQHRIWKHPZLWKRXWWDONLQJIRUWRRORQJ<RXFRXOGVD\VRPHWKLQJ
OLNH

:RZ,HQMR\DORWRIGLIIHUHQWWKLQJVEXWWZRKREELHVWKDWVSULQJWRPLQG
DUHZDWFKLQJIRRWEDOODQGSUDFWLFLQJVFXEDGLYLQJ,OLNHWRZDWFKIRRWEDOO
HYHU\ZHHNZLWKP\IULHQGV:HDOOPHHWXSLQDEDURUDFDIHDQGZHVLWWKHUH
DQGZDWFKWKHIRRWEDOODQGFDWFKXS,W
VDUHDOO\LPSRUWDQWSDUWRIP\ZHHN
EHFDXVHLW
VWKHRQO\FKDQFH,JHWWRVHHP\IULHQGVDQGVKDUHDIHZODXJKV,W
UHDOO\KHOSVPHXQZLQG$QRWKHUKREE\,UHDOO\HQMR\LVVFXEDGLYLQJ
8QIRUWXQDWHO\,OLYHTXLWHIDUIURPWKHEHDFK6RLW
VQRWDOZD\VSRVVLEOHWR
JRGLYLQJHYHU\ZHHNEXW,GRWU\WRJHWWRWKHEHDFKRQFHRUWZLFHDPRQWK,
UHDOO\OLNHVFXEDGLYLQJEHFDXVHLW
VDOPRVWOLNHDGLIIHUHQWZRUOGZKHQ\RX
UH
GRZQWKHUH,W
VXQOLNHDQ\RWKHUVSRUW,
YHHYHUWULHG,WWDNHV\RXWRDSODFH
ZKHUH\RXFDQMXVWORRNDWWKHILVKOLVWHQWRWKHVRXQGVRIWKHZDWHUDQG
FRPSOHWHO\IRUJHWDERXW\RXUSUREOHPV,W
VDFRPSOHWHO\DOLHQODQGVFDSHDQG
LW
VMXVWPHVPHUL]LQJ,W
VMXVWPDUYHOORXVWRXQZLQGXQGHUWKHZDWHUOLNHWKDW

:KDWRXWGRRUDFWLYLWLHVGR\RXZDQWWRWU\LQWKHIXWXUH":K\"

1RWHV
$UHWKHUHDQ\KREELHVWKDW\RX
GOLNHWRWU\LQWKHIXWXUH"7KLVLVW\SLFDO
VW\OHRITXHVWLRQIRUWKLVSDUWRIWKHH[DP:KDWWKH\ZDQWWRNQRZKHUHLV
ZKHWKHU\RXFDQXVHPRGDOYHUEVFRUUHFWO\DQGZKHWKHU\RXFDQVSHFXODWH
DERXWWKLQJVWKDW\RXKDYHWKRXJKWDERXWGRLQJ
)RUH[DPSOH
$FWXDOO\LW
VIXQQ\\RXVKRXOGDVNPHWKDW,KDYHEHHQ
LWFKLQJWRWU\VRPHWKLQJOLNHSDUDJOLGLQJEHFDXVH,
YHDOZD\VEHHQGUDZQWR
H[WUHPHVSRUWVEXW,
YHQHYHUKDGWKHRSSRUWXQLW\WRWU\RQH,$0DOLWWOHELW
VFDUHGRIWU\LQJEXW,WKLQN,ZRXOGEHEUDYHHQRXJKWRGRLWLI,ZHQWZLWK
IULHQGV

,ߞPLWFKLQJWRWU\ ,UHDOO\ZDQWWRWU\
,
YHDOZD\VEHHQGUDZQWR ,ߞYHDOZD\VEHHQDWWUDFWHGWR

/HWߞVPRYHRQWRWDONDERXWKREELHVLQJHQHUDO
:K\GRSHRSOHVD\WKDWLWߞVLPSRUWDQWWRKDYHKREELHV"

1RWHV
$VWKHH[DPLQHUDVNV\RXPRUHTXHVWLRQVLQSDUW\RXPLJKWILQG\RXUVHOI
UHSHDWLQJVRPHRIWKHVDPHDQVZHUVLQGLIIHUHQWZD\VEXWGRQ
WOHWWKLV
GLVWUDFW\RX&RQWLQXHWRIRFXVRQEHLQJQDWXUDOUHOD[HGDQGFKDWW\
:K\GRSHRSOHVD\WKDWLW
VLPSRUWDQWWRKDYHKREELHV"<RXFRXOGVD\
VRPHWKLQJOLNH
,WKLQNSHRSOHVD\LW
VLPSRUWDQWWRKDYHKREELHVEHFDXVH
QRZDGD\VPDQ\SHRSOHZRUNORQJKRXUVDQGLQPDQ\FDVHVWKH\VWUXJJOHWR
VZLWFKRIIZKHQWKH\JHWKRPHSDUWO\GXHWRFRPPXQLFDWLRQGHYLFHVOLNH
PRELOHSKRQHV,EHOLHYHLW
VHVVHQWLDOWREHDEOHWRXQZLQGDQGILQGWKLQJV
WKDWGLVWUDFW\RXIURP\RXUGDLO\URXWLQHDVLWFDQSUHYHQWEXUQRXWDQGRWKHU
VWUHVVUHODWHGLVVXHV,W
VDOVRFUXFLDOWRKDYHVRPHSK\VLFDODVZHOODV
LQWHOOHFWXDOKREELHVDVLWSURYLGHVEDODQFHDQGVWLPXODWLRQDQGHQDEOHV
SHRSOHWRPDLQWDLQJRRGSK\VLFDODQGPHQWDOKHDOWK

7HOOPHDERXW\RXUIDYRXULWHKREE\:KDWߞVWKHPRVWLQWHUHVWLQJWKLQJDERXWLWLQ\RXURSLQLRQ"

1RWHV
7HOOPHDERXW\RXUIDYRXULWHKREE\:KDW
VWKHPRVWLQWHUHVWLQJWKLQJ
DERXWLWLQ\RXURSLQLRQ"<RXSUREDEO\DQVZHUHGWKLVDOUHDG\LQWKHILUVW
TXHVWLRQ,IWKLVZDVDUHDOH[DPWKHH[DPLQHUPLJKWVNLSWKLVRQHDQGJRWR
WKHQH[WTXHVWLRQLQVWHDG%XWLIWKH\GRDVN\RX\RXFRXOGVD\VRPHWKLQJ
OLNH

:HOOLI,KDGWRFKRRVH,
GSUREDEO\VD\WKDWP\IDYRXULWHKREE\LVVFXED
GLYLQJ$V,PHQWLRQHGHDUOLHU,GRQ
WDOZD\VKDYHWKHRSSRUWXQLW\WRJR
HYHU\ZHHN,W
VXVXDOO\RQFHDPRQWKRUWZLFHDPRQWKPD[LPXPEXW,ILQGLW
UHDOO\WKHUDSHXWLF,DOZD\VPDQDJHWRGHVWUHVVHYHU\WLPH,JRDQG,DOZD\V
UHDOO\ORRNIRUZDUGWRLW,WDOORZVPHWRFOHDUP\KHDGDQGEHLQUHDOFRQWDFW
ZLWKQDWXUH,DOZD\VJHWP\EHVWLGHDVDIWHU,
YHEHHQVFXEDGLYLQJ

,VLWHDV\WRILQGWLPHWRSUDFWLVH\RXUKREELHV":K\:K\QRW"

1RWHV
,VLWHDV\WRILQGWLPHWRSUDFWLFH\RXUKREELHV"<RXFDQVD\\HVRU\RX
FDQVD\QRLWGRHVQ
WUHDOO\PDWWHU7KHUHDUHQRZURQJULJKWRUZURQJ
DQVZHUVLQWKHVSHDNLQJWHVW<RXGRQHHGWRSURYLGHDQDWXUDOUHVSRQVHDQG
\RXQHHGWRVKRZWKDW\RXFDQH[SUHVV\RXULGHDVFOHDUO\
)RUH[DPSOHߝ,WGHSHQGVRQWKHWLPHRIWKH\HDUEHFDXVHVRPHWLPHV,KDYH
PRUHZRUNWKDQRWKHUVREYLRXVO\OLNHHYHU\RQHDQGVRPHWLPHV,KDYHPRUH
H[DPVWKDQRWKHUV,I,GRQ
WKDYHDQ\H[DPVDQG,
PMXVWJRLQJWRFODVVDQG
ZRUNLQJ,JHWWRSUDFWLFHP\KREELHV$V,VDLG,JRVFXEDGLYLQJRQFHRU
WZLFHDPRQWKDQG,ZDWFKIRRWEDOOZLWKIULHQGV,DOVRSOD\DOLWWOHELWRI
WHQQLVVRPHWLPHVDQG,DOVROLNHWRJRWRFRQFHUWVDQGOLYHJLJV+RZHYHU
ZKHQ,KDYHH[DPV,W
VLPSRVVLEOHIRUPHWRSXUVXHDQ\RIP\KREELHVDV
,ߞP:$<WRREXV\ߞ
 /HYHO6SHDNLQJ3KUDVHVIRU,(/763DUW
3OHDVHGRQߞWWU\WROHDUQDOOWKHVHMXVWUHDGWKURXJKWKHOLVWDQGFKRRVHD
IHZWKDW\RXOLNHDQGWKDW\RXIHHOFRPIRUWDEOHXVLQJ0DNHDQRWHRIWKHVH
DQGXVHWKHPLQ\RXUSUDFWLFHDQVZHUV
2SLQLRQ
$VIDUDV,ߞPFRQFHUQHG
$V,VHHLW
)URPP\SRLQWRIYLHZ
,QP\KXPEOHRSLQLRQ
,ߞGVD\WKDWߨ

3HUVRQDOLVH
6SHDNLQJIURPSHUVRQDOH[SHULHQFHߨ
)RUPHSHUVRQDOO\
7KLVLVDWRSLFWKDWLVSDUWLFXODUO\FORVHWRP\KHDUWߨ
,WߞVIXQQ\,ZDVMXVWWKLQNLQJDERXWWKLVWKHRWKHUGD\
0\JXWLQLWLDOUHDFWLRQLVߨ

8SORDGHGE\606DIL
 /LNHVGLVOLNHV
,ߞPLQWRߨ
,ߞPDNHHQDYLGVXUIHU
,ߞPNHHQRQIRQGRIVXUILQJ
,JRVXUILQJWRXQZLQGWRHVFDSHWKHVWUHVVHVDQGVWUDLQVRIP\GD\WR
GD\OLIH
,OLNHQRWKLQJPRUHWKDQWRJRVXUILQJ
,ߞPLWFKLQJWRWU\JRߨ,UHDOO\ZDQWWR

$JUHH
:HVHHH\HWRH\H
<HDK,ߞGJRDORQJZLWKWKDW
$EVROXWHO\
<RXWRRNWKHZRUGVULJKWRXWRIP\PRXWK
,FRXOGQߞWDJUHHPRUH
<RXKDYHDSRLQWWKHUH
,ߞPZLWK\RXRQWKLVRQH
'LVDJUHH WU\QRWWRDUJXHRUGLVDJUHHZLWKWKHH[DPLQHU
,WHQGWRGLVDJUHHZLWKWKDW
7KDWߞVQRWDOZD\VWKHFDVH
,VQߞWLWPRUHDFDVHRIߨ

,PSUHVVLYHVWUXFWXUHVGRQߞWRYHUXVHWKHVH
$QRWKHUSRLQW,ߞGOLNHWRDGGDERXWߨLVߨ
,WߞVDOVRZRUWKEHDULQJLQPLQGWKDWߨ
,ߞGDOVROLNHWRSRLQWRXWWKDWߨ
,WKLQNLWߞVLPSRUWDQWQRWWRIRUJHWWKDWߨ
7KHYDVWPDMRULW\RISHRSOHWHQGWRWKLQNWKDWߨ
$WWKHHQGRIWKHGD\ߨ
:KHQDOOߞVVDLGDQGGRQHߨ
 6(&5(7,(/7663($.,1*
3$576(&5(76
,QWKLVVHFWLRQ\RXߞOOILQGDVDPSOHVSHDNLQJWHVWSDUWORQJWXUQWKDW
ZHߞUHJRLQJWRDQDO\VHRQHTXHVWLRQDWDWLPH)RUHDFKTXHVWLRQ\RXߞOOILQG
VRPHJXLGHQRWHVXQGHUQHDWKZLWKDVDPSOHUHVSRQVHDQGVRPHWLSV

.H\,QIRUPDWLRQDERXWSDUW
,QSDUWRIWKHVSHDNLQJWHVW\RXKDYHWRVSHDNIRUWRPLQXWHV
7U\WRVSHDNIRUWKHIXOOPLQXWHVXQWLOWKHH[DPLQHULQWHUUXSWV\RXRQFH
\RXUHDFKWKHPLQXWHVPD[LPXP
7KHH[DPLQHUZLOOLQWHUUXSWZLWKDIROORZXSTXHVWLRQRUE\VD\LQJ
WKDQN
\RX
DQGWKHQKHRUVKHZLOOJRLQWRWKHIROORZXSTXHVWLRQXVXDOO\
,W
VLPSRUWDQWWKDW\RXVSHDNIRUWKHWZRPLQXWHVLI\RXZDQWWRJHWWKH
KLJKHUJUDGHVEHFDXVHLWVKRZVWKDW\RXKDYHWKHIOXHQF\DQGWKHDELOLW\
WRH[SDQG\RXUDQVZHUV
<RXKDYHWKHTXHVWLRQFDUGZLWKVRPHVXESRLQWVWKDWJLYH\RXVRPH
JXLGDQFHDVWRZKDWWRWDONDERXW<RXFDQFKDQJHWKHRUGHURIWKHVHRU
\RXFDQDGDSWWKHPLI\RXZDQWLWGRHVQ
WUHDOO\PDWWHUEXWLW
VQRUPDOO\
EHWWHUWRIROORZWKHPEHFDXVHLW
VRQHOHVVWKLQJWRFRQFHQWUDWHRQ

'RQ
WWU\WREHWRRIRUPDO
$YHU\LPSRUWDQWUXOHLQWKH,(/76VSHDNLQJWHVWLVGRQ
WWU\WREHWRR
IRUPDO5HPHPEHUWKDWWKH,(/76VSHDNLQJWHVWLVDVHPLIRUPDOH[DP%\
WKDW,PHDQ\RXVKRXOGEHUHVSHFWIXOWRZDUGVWKHH[DPLQHUEXW\RXDOZD\V
QHHGWREHDULQPLQGWKDW\RX
UHQRWLQDQDFDGHPLFSUHVHQWDWLRQWRDOHFWXUHU
\RX
UHLQDQH[DPWKDWZDQWVWRWHVW\RXUUHDOOHYHORI(QJOLVKVSHDNLQJ'RQ
W
XVHVODQJRUWDONDERXWFRQWURYHUVLDOWRSLFVRUWRSLFVWKDWFRXOGEHRIIHQVLYH
WRSHRSOH.HHS\RXUODQJXDJHQHXWUDODQGWU\WREHVHPLIRUPDOLQ\RXU
DSSURDFK
 6SHDNVORZO\
6SHDNVORZO\DQGZLWKSXUSRVH
7KLVZLOODOORZ\RXWRIHHOFDOPHU
,WZLOODOORZ\RXWRH[SUHVV\RXUVHOIEHWWHU
,WZLOODOORZ\RXWRWKLQN
,WZLOODOORZ\RXWRSURQRXQFHDQGHPSKDVLVH\RXUVHQWHQFHVIDUEHWWHU

.HHSLWVLPSOH
2QHRIWKHPRVWLPSRUWDQWWKLQJV\RXFDQGRWRLPSURYH\RXU,(/76VFRUH
LQWKHVSHDNLQJWHVWLVQRWWRWU\WRVRXQGDVVPDUWDVSRVVLEOHDQGXVH
FRPSOH[VWUXFWXUHVFRPSOH[VHQWHQFHVRUREVFXUHZRUGVWRH[SODLQVLPSOH
WKLQJV7U\WRNHHSWKLQJVVLPSOHEHFDXVHWKDW
VZKDWQDWXUDOQDWLYHOHYHO
FRPPXQLFDWLRQLVDERXW/HDUQDOWHUQDWLYHZRUGVDQGVWUXFWXUHVWRXVHEXW
\RXVKRXOGSUDFWLFHWKRVHVWUXFWXUHVDQGWKRVHZRUGVVRPXFKDWKRPHWKDW
WKH\FRPHRXWQDWXUDOO\ZKHQ\RXGRWKHWHVW,QWKHWHVW\RXVKRXOGEH
IRFXVLQJRQEHLQJQDWXUDODQGEHLQJWDONDWLYHQRWRQXVLQJFRPSOH[
YRFDEXODU\RUXVLQJFRPSOH[VHQWHQFHV:KHQFDQGLGDWHVWU\WRXVHFRPSOH[
VHQWHQFHVWRLPSUHVVWKHH[DPLQHUZKDWXVXDOO\KDSSHQVLVWKDWWKH\PDNH
PRUHPLVWDNHVDQGWKH\VRXQGOHVVQDWXUDOLQ(QJOLVK:KHQQDWLYHVSHDNHUV
ZKRDUHHGXFDWHGWRGHJUHHOHYHORU0DVWHUVOHYHORU3+'OHYHOVSHDNWKH\
GRQ
WXVXDOO\WU\WRFRPSOLFDWHWKHLUODQJXDJHDVPXFKDVSRVVLEOHEHFDXVHLW
ZRXOGEHXQQDWXUDODQGZRXOGPDNHFRPPXQLFDWLRQZRUVH6WXG\
YRFDEXODU\DQGVWUXFWXUHVWKHZD\,PHQWLRQHGLQWKHLQWURGXFWLRQDQGWKHQ
IRFXVRQNHHSLQJLWVLPSOHDQGEHLQJFKDWW\DQGVRFLDEOHLQWKHWHVW7KLVZLOO
JHW\RXDQ
 3DUW([DP7ULFN
$VSHFLDO,(/76VSHDNLQJWULFNIRUSDUWWZRRIWKHWHVWLVWRXVHWKH
3DVW3UHVHQW)XWXUHPHWKRG,QWKH,(/76VSHDNLQJWHVW\RXDUHQRWJUDGHG
RQDQVZHULQJWKHTXHVWLRQH[DFWO\WKHZD\WKH\VD\VR\RXGRKDYHDOLWWOHELW
RIIOH[LELOLW\,W
VQRWWKHVDPHDVWKHZULWLQJZKHUH\RXKDYHWRDQVZHUWKH
WDVNH[DFWO\WKHZD\WKHH[DPVHWVLW6RLI\RXVWUXJJOHZLWKVSHDNLQJIRU
PLQXWHVDERXWDWRSLFZKDW\RXFDQGRLVXVHWKHSDVWSUHVHQWIXWXUH
PHWKRG7KLVPHWKRGLVEDVLFDOO\OLNHWKLVLI\RXDUHSUHVHQWHGDWDVNOLNH
WKLV
,QVWHDGRIDQVZHULQJWKHWDVNH[DFWO\WKHZD\WKHH[DPLQHUSUHVHQWVLW\RX
FDQWDONDERXW
 2QHH[DPSOHIURPWKHSDVWZKHUH\RXDQVZHUWKHZKROHWDVNLQDERXW
VHFRQGVRUVHFRQGV
 7KHQ\RXFKRRVHRQHH[DPSOHIURPWKHSUHVHQWZKHUH\RXDQVZHUWKH
WDVNDJDLQLQDERXWVHFRQGV
 7KHQDQRWKHUH[DPSOHIURPWKHIXWXUHZKHUH\RXDQVZHUWKHZKROH
TXHVWLRQDJDLQLQWRVHFRQGV
 (;$03/(3$57ZLWK1RWHVDQG6DPSOH$QVZHU

&DQGLGDWH7DVN&DUG

'HVFULEH\RXULGHDO
RXWGRRUSODFH

<RXVKRXOGVD\

:KHUHLWLV

:KHQGLGZLOO\RXJRWKHUH

:KDWDFWLYLWLHV\RXFDQGR
WKHUH

DQGVD\ZK\LVLWLGHDOIRU
\RX

5HPHPEHU
<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

2NVRIRUWKLVPHWKRGZKDWZH
UHJRLQJWRGRLVILUVWZH
UHJRLQJWRWDON
DERXWDQLGHDOSODFHLQWKHSDVW6RPHWKLQJWKDWZDVDQLGHDORXWGRRUSODFH
IRUPHLQWKHSDVW
:H
UHJRLQJWRVD\
ZKHUHLWZDV
ZKHQ,ZHQWWKHUHRUZKHQ,XVHGWRJRWKHUH
ZKDWDFWLYLWLHV,XVHGWRGRRU,GLGWKHUH
 DQGZK\LWZDVLGHDOIRUPH

7KHQZH
UHJRLQJWRWDONDERXWDQLGHDORXWGRRUSODFH,FXUUHQWO\HQMR\
ZKHUHLWLV
ZKHQ,JRWKHUH
ZKDWDFWLYLWLHV,GRWKHUH
DQGZK\LW
VLGHDOIRUPH

7KHQILQDOO\ZH
UHJRLQJWRWDNHWKHODVWVHFRQGVWRWDONDERXWDQ
LGHDORXWGRRUSODFHIRUPHLQWKHIXWXUH6RVRPHZKHUH,ZRXOGOLNHWRJRRU
ZKHUH,SODQWRJRLQWKHIXWXUH

ZKHUHLWLV
ZKHQ,ZLOOJRWKHUH
ZKDWDFWLYLWLHV,FDQGR
DQGVD\ZK\LWZLOOEHLGHDOIRUPH

6RLQWKLVSDUWLFXODUH[DPSOHZHFRXOGVD\VRPHWKLQJOLNH

2N7KHXOWLPDWHRXWGRRUSODFHIRUPHZKHQ,ZDVDNLGZDVDIRRWEDOO
SLWFKQHDUP\KRXVH,WZDVDERXWKDOIDPLOHDZD\IURPP\KRXVH,XVHGWR
JRWKHUHHYHU\GD\WRSOD\IRRWEDOODIWHUVFKRRO,XVHGWRUHDOO\HQMR\SOD\LQJ
IRRWEDOOWKHUHZLWKP\PDWHVLWZDVLGHDOIRUPHEHFDXVHLWZDVDZD\RI
XQZLQGLQJDQGIRUJHWWLQJDERXWVFKRRO,UHPHPEHU,ZRXOGFRPSOHWHO\ORVH
WUDFNRIWLPHDQGIRUJHWDOORIP\ZRUULHV,WDOORZHGPHWRJHWVRPHIUHVKDLU
DQGVKDUHVRPHODXJKVZLWKP\IULHQGV
+RZHYHUDSHUIHFWSODFHIRUPHQRZZRXOGEHPD\EHWKHEHDFK,OLYH
QHDUWKHEHDFKQRZDQG,UHDOO\HQMR\JRLQJWRWKHUHDIWHUWKHJ\PDQG
JHWWLQJLQWKHVHD$IWHU,JHWLQWKHZDWHU,XVXDOO\FKLOORXWXQGHUWKHVXQ
DQGKDYHDTXLFNUHDG7KHUHDVRQZK\LW
VLGHDOIRUPHLVIRUWKHVDPH
UHDVRQDVP\ILUVWH[DPSOH,WKLQNLWDOORZVPHWRGHVWUHVVDQGIRUJHWDERXW
P\VFKHGXOH,WKHOSVPHJHWIUHVKLGHDVJREDFNWRZRUNDQGEHPRUH
SURGXFWLYH
$QLGHDORXWGRRUSODFHIRUPHLQWKHIXWXUHPLJKWEHVRPHZKHUHOLNHD
YLOODE\WKHVHD7KHUHDUHVRPHVWXQQLQJYLOODVLQP\DUHD
,ZRXOGOLNHWRKDYHP\RZQYLOODZLWKDVZLPPLQJSRROLQWKHIXWXUHVR,
FDQZRUNIURPKRPH
7KHUHDVRQZK\WKLVZRXOGEHSHUIHFWIRUPHLVLWZRXOGDOORZPHWR
GLVFRQQHFWDQGUHDOO\IRFXVRQZRUNZKHQ,QHHGWR,WKLQNWKDW,ZRXOGEH
PRUHSURGXFWLYHDQGWKDW,ZRXOGDOVREHDEOHWRHQMR\DOLWWOHELWRIOHLVXUH
WLPH,FRXOGKDYHIULHQGVFRPHURXQGWRP\KRXVHIRU%%4VDQGGULQNVDQG
,FRXOGRUJDQLVHIDPLO\JHWWRJHWKHUVߞ
 :K\LVWKLVPHWKRGVRHIIHFWLYHLQWKH,(/766SHDNLQJ7HVW"
 7KHILUVWUHDVRQZK\WKLVPHWKRGLVVRHIIHFWLYHLVWKDWLWDOORZV\RXWR
GLYLGHWKHTXHVWLRQLQWRWKUHHVHFWLRQVZKLFKJLYHV\RXDORWPRUHWRWDON
DERXW,WZLOOJLYH\RXPRUHLGHDVDQGLWZLOOPDNHLWHDVLHUIRU\RXWRFDUU\
RQWDONLQJIRUWKHIXOOPLQXWHV%DVLFDOO\ZKHQ\RXKDYHH[DPSOHVWRWDON
DERXWWKHUHLVDORWOHVVSUHVVXUHDQG\RXZLOOIHHOOHVVQHUYRXV

 7KHVHFRQGUHDVRQZK\WKLVLVVRHIIHFWLYHLVWKDWEHFDXVH\RX
UH
VSHDNLQJDERXWWKUHHH[DPSOHVIURPGLIIHUHQWWLPHVRQHIURPWKHSDVWRQH
IURPWKHSUHVHQWDQGRQHIURPWKHIXWXUHLWDOORZV\RXWRXVHGLIIHUHQW
WHQVHVDQGGLIIHUHQWFRQVWUXFWLRQVWKDW\RXZRXOGQRWQRUPDOO\XVHLI\RX
ZHUHVSHDNLQJDERXWRQHH[DPSOH7KLVDOORZV\RXWRVKRZWKHH[DPLQHUV
PRUHRI\RXU(QJOLVKDQGDOORZV\RXWRNHHS\RXUDQVZHUPRUHRUJDQLVHG
 7KHWKLUGUHDVRQZK\WKLVPHWKRGLVVRJRRGLVEHFDXVHZKHQ\RX
UH
XVLQJWKUHHGLIIHUHQWH[DPSOHV\RXKDYHWKHWRWDONDERXWWKUHHGLIIHUHQWWRSLF
DUHDVZKLFKZLOOHQDEOH\RXWRVKRZWKHH[DPLQHUVWKDW\RXKDYHDZLGH
UDQJHRIYRFDEXODU\

7KH5RXQGLQJRIITXHVWLRQV
,IWKHH[DPLQHUDVNV\RXDIROORZXSTXHVWLRQ\RXVKRXOGSURYLGHDVKRUW
QDWXUDOUHVSRQVH'RQ
WJRLQWRDQ\ORQJH[SODQDWLRQVRUGHWDLOVDERXW
DQ\WKLQJ-XVWSURYLGHDQDWXUDOUHVSRQVHWRWKHTXHVWLRQDVLI\RXZHUH
KDYLQJDUHOD[HGFRQYHUVDWLRQ7KHZKROHSRLQWRIWKLVTXHVWLRQLVVLPSO\WR
ILQLVKWKLVSDUWRIWKHH[DP,W
VWKHHQGRISDUW
 6(&5(7,(/7663($.,1*
3$576(&5(76

,QWKLVFKDSWHU\RXߞOOILQGDVDPSOHVSHDNLQJWHVWSDUWGLVFXVVLRQWKDW

ZHߞUHJRLQJWRJRWKURXJKRQHTXHVWLRQDWDWLPH<RXߞOOILQGVRPHQRWHV
XQGHUHDFKTXHVWLRQZLWKDVDPSOHUHVSRQVHDQGVRPHWLSV
 &OHDU&RPPXQLFDWLRQ&KHFNOLVW
 .HHS\RXUVHQWHQFHVVLPSOHDQGGLUHFW
 5HPRYHXQQHFHVVDU\ZRUGVWRPDNH\RXUFRPPXQLFDWLRQPRUH
HIIHFWLYHDQGSRZHUIXO5HPHPEHUWKDWQRPDWWHUZKR\RXߞUHVSHDNLQJ
WRWKH\DUHKXPDQVRUHODWHWRWKHPDVDKXPDQ
 %HDVVSHFLILFDVSRVVLEOH
 $YRLGWKH3DVVLYH9RLFHOLNHWKHSODJXHXQOHVV\RXKDYHQRFKRLFH
,QVWHDGRIVD\LQJߡWKHSURMHFWZDVODXQFKHGE\WKHJRYHUQPHQWߢXVHDQ
DFWLYHVHQWHQFHOLNHߡ7KHJRYHUQPHQWODXQFKHGWKHSURMHFWߢ$FWLYH
VHQWHQFHVWHQGWRVRXQGPRUHDOLYHDQGDVDUHVXOWPRUHLQWHUHVWLQJ

:KHQWKHH[DPLQHUDVNV\RXDTXHVWLRQ\RXߞYHDOUHDG\WDONHGDERXW
'RQ
WEHVXUSULVHGLIWKHH[DPLQHUDVNV\RXDTXHVWLRQZKLFK\RX
YHMXVW
DQVZHUHGLQ\RXUSUHYLRXVUHVSRQVH6RPHWLPHVZKHQ\RXUHVSRQGWRD
TXHVWLRQ\RXZLOOLQDGYHUWHQWO\DQVZHUWKHQH[WTXHVWLRQWKDWWKHH[DPLQHU
ZDVJRLQJWRDVN7KHH[DPLQHUPLJKWMXVWDVN\RXDJDLQDQ\ZD\'RQ
WEH
VXUSULVHGDQGGRQ
WIHHOEDG'RQ
WDVVXPHWKDWWKHH[DPLQHUKDVQ
W
XQGHUVWRRG\RXRUKDVQ
WOLVWHQHGMXVWDQVZHUWKHTXHVWLRQDVLI\RXKDGQ
W
DQVZHUHGLWEHIRUH,I\RXZDQW\RXFDQWU\WRDQVZHULQDVOLJKWO\GLIIHUHQW
ZD\E\SDUDSKUDVLQJEXWGRQ
WIHHOQHUYRXVGRQ
WIHHOEDGDQGGRQ
WIHHOOLNH
WKHH[DPLQHUGLGQ
WXQGHUVWDQGLW
VMXVWSDUWRIWKHSURFHVV

6RFLDOO\6WUDQJHTXHVWLRQV
7KLVLVDOLWWOHELWFRQWURYHUVLDOEXWLQWKH,(/76VSHDNLQJWHVWWKH\RIWHQ
DVNZHLUGRUVWUDQJHTXHVWLRQVWKDWFDWFKVWXGHQWVRIIJXDUG7KHUHDVRQZK\
WKH\GRWKLVLVVRWKH\FDQIRFXVWKHLUDVVHVVPHQWRQODQJXDJHUDWKHUWKDQ
LGHDVDQGEDFNJURXQGNQRZOHGJHRIDSDUWLFXODUVXEMHFW7KLVLVZK\\RX
RIWHQVHHJHQHULFDQGREYLRXVTXHVWLRQVWKDW\RXZRXOGQߞWQRUPDOO\WDON
DERXWLQ\RXURZQODQJXDJH)RUJHWZKHWKHU\RXWKLQNWKHTXHVWLRQWKH
H[DPLQHULVDVNLQJ\RXLVVWXSLGDQGMXVWSOD\WKHJDPHWRJHW\RXUEDQG
VFRUH7HOOWKHH[DPLQHUZKDWKHRUVKHZDQWVWRKHDUDQG\RXߞOOEHODXJKLQJ
VLQJLQJDQGGDQFLQJDOO\RXUZD\WRXQLYHUVLW\RU\RXUQHZFRXQWU\RI
UHVLGHQFHZLWKDQ
'RQߞWOHWVWUDQJHTXHVWLRQVVSRLO\RXUJRRGYLEHVLQWKHH[DP)RFXVRQ
EHLQJRSHQIULHQGO\DQGFKDWW\ZKDWHYHUTXHVWLRQWKHH[DPLQHUDVNV'RQߞW
OLPLW\RXUVHOIWRVSHDNLQJDERXWWKLQJVWKDWDUHWUXHIRU\RXHLWKHU
UHPHPEHUWKHH[DPLQHUGRHVQ
WNQRZ\RXDQGGRHVQ
WFDUHLIZKDW\RX
UH
VD\LQJLVWUXH,I\RXGRQ
WNQRZZKDWWRVD\MXVWLQYHQWDQDQVZHUQRERG\
FDUHV

7RFODULI\ZKDW\RXMXVWVDLG
,I\RXZDQWWRFODULI\ZKDW\RXMXVWVDLG\RXFDQVD\

WRSXWLWDQRWKHUZD\

RU\RXFDQVD\

ZKDW,PHDQLV

RU

ZKDW,
PWU\LQJWRVD\LV

 :KDWWRVD\LI\RXQHHGWLPHWRWKLQNLQWKHH[DP
,I\RXQHHGWLPHWRWKLQNLQWKHH[DPEHFDXVH\RX
UHQRWVXUHRIZKDWWR
VD\\RXFDQVWDUWE\VD\LQJ

LW
VTXLWHDGLIILFXOWTXHVWLRQEXW,VXSSRVHJXHVV



2U\RXFDQVD\

WKDW
VDUHDOO\LQWHUHVWLQJTXHVWLRQ,VXSSRVHJXHVV

RU\RXFDQVD\

,
YHQHYHUWKRXJKWDERXWLWEHIRUHEXW,VXSSRVHJXHVV

 (;$03/(3$57ZLWK1RWHVDQG6DPSOH$QVZHU
/HWߞVFRQVLGHUILUVWRIDOOKRZSHRSOHߞVYDOXHVKDYHFKDQJHG
:KDWNLQGRIKREELHVDUHSRSXODUDPRQJWHHQDJHUVLQ\RXUFRXQWU\":K\GR\RXWKLQNWKHVHKREELHV
DUHVRSRSXODU"

1RWHV
:KDWNLQGRIKREELHVDUHSRSXODUDPRQJWHHQDJHUVLQ\RXUFRXQWU\DQG
ZK\GR\RXWKLQNWKHVHKREELHVDUHVRSRSXODU"7KLVW\SHRITXHVWLRQLV
W\SLFDO7KH\OLNHWRDVN\RXZKDWW\SHRIWKLQJVDUHSRSXODUZLWK\RXQJ
SHRSOHRUWHHQDJHUVRUSHRSOH\RXURZQDJHLQ\RXUFRXQWU\RULQ\RXUDUHD
)RUWKLVSDUWLFXODUTXHVWLRQDQH[DPSOHDQVZHUPLJKWEHVRPHWKLQJOLNH
WKLVߝ0RVWWHHQDJHUVLQP\FRXQWU\OLNHWRJRRXWDQGVRFLDOLVHWKH\OLNHWR
SOD\IRRWEDOODQGWKH\OLNHWROLVWHQWRPXVLF,WKLQNWKHVHDUHYHU\SRSXODU
EHFDXVHWKH\DUHHDV\DFWLYLWLHVWRSDVVWKHWLPH0XVLFLVDYDLODEOHDWWKH
WRXFKRIDEXWWRQRQ\RXUVPDUWSKRQHDQG\RXFDQOLVWHQWRLWDQ\ZKHUH
SUHWW\PXFK)RRWEDOOLVIDLUO\LQH[SHQVLYHWRSUDFWLFHDQGLVWKHPRVWSRSXODU
VSRUWLQP\FRXQWU\QRWMXVWDPRQJWHHQDJHUVEXWDPRQJDGXOWVDVZHOO
)LQDOO\JRLQJRXWDQGVRFLDOLVLQJDUHDOVRVRPHWKLQJWKDW,WKLQNSHRSOHRI
DOODJHVOLNHWRGR:HKDYHJUHDWZHDWKHUPRVWRIWKH\HDUVRSHRSOHDUH
DOZD\VXSIRUDGULQNRUDFRIIHHRXWVLGHZLWKIULHQGV%HLQJVRFLDEOHRXWVLGH
LVDYHU\ELJSDUWRIRXUFXOWXUHLWKHOSVXVFRQQHFWZLWKHDFKRWKHUߞ
+RZGR\RXWKLQNWKLQJVKDYHFKDQJHGVLQFH\RXUJUDQGSDUHQWVߞWLPH"

1RWHV
$QRWKHUW\SLFDOH[DPVW\OHTXHVWLRQ7KHH[DPRIWHQLQFOXGHVDTXHVWLRQ
DERXWKRZWKLQJVKDYHFKDQJHGLQVRPHZD\FRPSDULQJSDVWDQGSUHVHQW
KDELWVRUEHKDYLRXUV7KHNH\ODQJXDJH\RXQHHGWRGRPLQDWHKHUHLVߝXVHG
WRߞSDVWVLPSOHDQGSUHVHQWWHQVHV%H\RQGWKDW\RXQHHGWREHFRPIRUWDEOH
ZLWKVSHFXODWLQJ
+HUHLVDVLPSOHH[DPSOH

:RZWKDW
VDGLIILFXOWTXHVWLRQ,
PQRWHQWLUHO\VXUHKRZWKLQJVKDYH
FKDQJHGVLQFHP\JUDQGSDUHQWV
WLPHEXWLI,KDGWRJXHVV,
GSUREDEO\VD\
WKDWWHHQDJHUVVSHQGPRUHWLPHLQIURQWRIVFUHHQVZLWKWHFKQRORJ\QRZ7KH\
FRPPXQLFDWHRQOLQHDORWZKHUHDVWKLVZDVQ
WDQRSWLRQLQP\JUDQGSDUHQWV

WLPH7KH\SUREDEO\OLVWHQWRDORWPRUHPXVLFDQGWKH\SOD\DORWPRUH
FRPSXWHUJDPHVDVZHOO
7KH\SUREDEO\SOD\DZLGHUUDQJHRIVSRUWVEHFDXVH,PHDQOHW
VIDFHLW
WKHRQO\VSRUWSHRSOHSOD\HG\HDUVDJRZDVSUREDEO\IRRWEDOOVRFFHU
:LWKJOREDOLVDWLRQDORWRIGLIIHUHQWKREELHVDQGVSRUWVKDYHVSUHDGDOORYHU
WKHZRUOGVR,WKLQNPRUHSHRSOHSOD\VSRUWVOLNHWHQQLVQRZDQGSHUKDSV
\HDUVDJRWKLVZDVRQO\IRUWKHHOLWH0DQ\WHHQDJHUVDOVRSOD\EDVNHWEDOO
QRZEXWWKH\SUREDEO\GLGQ
WXVHGWR\HDUVDJR

 )LQDOO\OHWߞVWDONDERXWWKHUROHRISHHUSUHVVXUH
'R\RXWKLQNSHHUSUHVVXUHLQIOXHQFHVWKHNLQGRIKREELHVSHRSOHFKRRVHWRSUDFWLVH"+RZRU:K\"

1RWHV
$SRVVLEOHDQVZHUPLJKWEH

,WKLQNWRDFHUWDLQH[WHQWLWGRHV3HHUSUHVVXUHLVPXFKPRUHSURQRXQFHG
ZKHQ\RX
UHLQ\RXUWHHQVEXWHYHQDGXOWVIHHOSHHUSUHVVXUHLQP\RSLQLRQ,W
GRHVLQIOXHQFHWKHNLQGRIKREELHVWKDWSHRSOHFKRRVHEHFDXVHZKHQ\RXVHH
WKDWRWKHUSHRSOHSUDFWLVHDVSRUWRUSUDFWLVHDSDUWLFXODUKREE\LW
DXWRPDWLFDOO\EHFRPHVPRUHDWWUDFWLYHWR\RX6R\RXDUHPRUHOLNHO\WRGR
VRPHWKLQJWKDW\RXVHHRWKHUSHRSOHHQMR\LQJ7KHUH
VDOVRDGGHGSUHVVXUH
IRU\RXWRMRLQLQLI\RXUIULHQGVSUDFWLFHDSDUWLFXODUKREE\DVWKH
DOWHUQDWLYHLVRIWHQWRVWD\DWKRPHDQGQRWVHHWKHP

 /HYHO6SHDNLQJ3KUDVHVIRU,(/763DUW
2.VRKHUHLVDORQJOLVWRISRVVLEOHSKUDVHVVWUXFWXUHVDQGZRUGV\RX
FRXOGXVHWRDGGDELWRIVDOWDQGSHSSHUWR\RXUVSHDNLQJLQSDUWDQGJHWDQ
RUHYHQD+2:(9(5\RXGRQRWQHHGWRXVHDQ\RIWKHPWRJHWDQ
7KHVHDUHMXVWH[WUDSKUDVHVIRU\RXWRFKRRVHWKHRQHV\RXOLNHDQGDUH
FRPIRUWDEOHXVLQJDQGWKLQNDERXWDGGLQJWKHPWR\RXUSUDFWLFH'RQRW
VWUHVVDQGGRQRWVWDUWZULWLQJWKHPDOOGRZQDQGVWXG\LQJWKHLUGHILQLWLRQV
SOHDVH)RFXVRQRUWKDW\RXOLNHDQGWKDW\RXߞUHFRPIRUWDEOHXVLQJDQG
WKHQLQWURGXFHWKHPLQWR\RXUDQVZHUVZKHQ\RXGRWKHSUDFWLFHH[HUFLVHV
ODWHURQLQWKLVERRN

86()8/3+5$6(6
,I\RXFRQVLGHU;ߨ\RXFRXOGEHFRQYLQFHGE\DQDUJXPHQWLQIDYRU
RIߨ<
%XW\RXKDYHWRWKLQNDERXWDQRWKHUDVSHFWRIWKHSUREOHPߨ
,GRQRWIHHOWKLVLVDGLUHFWFDXVHRIߨ
2IFRXUVHLWJRHVZLWKRXWVD\LQJWKDWߨ
7KHUHKDVEHHQDJURZLQJERG\RIRSLQLRQWKDW
ߨ WKHVLWXDWLRQFDQEHDGGUHVVHGE\DGRSWLQJWKHPHWKRGVPHQWLRQHG
DERYHߨ
:KLOH,DGPLWWKDWߨ,ZRXOGDUJXHWKDWߨ
2QHDSSURDFKZRXOGEHߨ
$VHFRQGSRVVLELOLW\ZRXOGEHWRߨ
2EYLRXVO\ߨ
+RZHYHU
7KLVVXJJHVWVWKDWߨ
,QDGGLWLRQߨ
7RVXPXSߨ
,QIDFW
,WHQGWRGLVDJUHHߨ
,DPXQFRQYLQFHGE\ߨ
2YHUDOOߨ
,QWKHILQDODQDO\VLVߨ
8OWLPDWHO\ߨ
7RFRQFOXGHߨ
,QFRQFOXVLRQߨ
2QWKHRWKHUKDQGߨ
7KHUHLVQRGRXEWWKDWߨ
7KLVFRXOGLQYROYHߨ
7KLUGO\ߨ
(;35(66,1*9,(:6
,ZRXOGDUJXHWKDWߨ
,ILUPO\EHOLHYHWKDWߨ
,WVHHPVWRPHWKDW
,WHQGWRWKLQNWKDWߨ
3HRSOHDUJXHWKDW
6RPHSHRSOHWKLQNWKDWߨ
0DQ\SHRSOHIHHOWKDWߨ
,QP\H[SHULHQFHߨ
,WLVXQGRXEWHGO\WUXHWKDW
,WLVFHUWDLQO\WUXHWKDWߨ

5()87,1*$1$5*80(17
,DPXQFRQYLQFHGWKDWߨ
,GRQQRWEHOLHYHWKDW
,W,KDUGWRDFFHSWWKDWߨ
,WLVXQMXVWLILDEOHWRVD\WKDWߨ
7KHUHLVOLWWOHHYLGHQFHWRVXSSRUWWKDWߨ

3529,',1*6833257
)RUH[DPSOHߨ
)RULQVWDQFHߨ
,QGHHGߨ
,QIDFWߨ
2IFRXUVHߨ
,WFDQEHJHQHUDOO\REVHUYHGWKDWߨ
6WDWLVWLFVGHPRQVWUDWHߨ
,IWKLVLVZHUHWKHFDVHߨ
)LUVWO\ߨ
1DWXUDOO\ߨ
,QP\H[SHULHQFHߨ
/HWPHLOOXVWUDWHߨ

'(),1,1*(;3/$,1,1*
,ZRXOGDUJXHWKDWߨ
%\WKLV,PHDQߨ
,QRWKHUZRUGV
7KLVLVWRVD\ߨ
7REHPRUHSUHFLVH
+HUH,DPUHIHUULQJWRߨ
86(63$5,1*/< DOLWWOH
)LUVWVHFRQGHWFߨ
0RUHRYHU
,QDGGLWLRQߨ
)XUWKHUPRUHߨ
1HYHUWKHOHVVQRQHWKHOHVVߨ
2QWKHRQHRWKHUKDQGߨ
%HVLGHVߨ
&RQVHTXHQWO\ߨ
,QFRQWUDVWߨ
,QFRPSDULVRQߨ

86(02'(5$7(/<
:KLOHߨ
0HDQZKLOHߨ
$OWKRXJKߨ
,QVSLWHRIߨ'HVSLWHWKHIDFWWKDWߨ
(YHQWKRXJKߨ
$VDUHVXOWߨ
+RZHYHUߨ
6LQFHߨ
6LPLODUO\ߨ
7KXVߨ
,QWXUQ
 27+(586()8/3+5$6(6
0\UHVSRQVHWRWKLVDUJXPHQWGHSHQGRQZKDWLVPHDQWE\ߨ
7KHUHLVVXUHO\DGLIIHUHQFHEHWZHHQߨDQGߨ
,LQWHQGWRLOOXVWUDWHKRZVRPHRIWKHVHGLIIHUHQFHVDUHVLJQLILFDQWWRWKH
DUJXPHQWSXWIRUZDUG
+RZHYHUZKLOVW,DJUHHWKDWߨ,DPOHVVFRQYLQFHGWKDWߨ
,FHUWDLQO\EHOLHYHWKDWߨ
2QHRIWKHPDLQDUJXPHQWVLQIDYRXURIߨLVWKDWߨ
,QRWKHUZRUGVߨ
$GPLWWHGO\LQVRPHZD\Vߨ
6XUHO\ߨ
$UJXDEO\
(LWKHUZD\ߨ
,QDQ\FDVHߨ
7KHPRVWLPSRUWDQWSRLQWLVWKDWߨ
$QRWKHUSRLQWLVWKDWߨ
2IFUXFLDOLPSRUWDQFHLQP\RSLQLRQLVߨ
7KHUHLVKRZHYHUDQRWKHUSRVVLEOHZD\RIGHILQLQJߨ
ߨWKDW,DPLQIDYRURIDOWKRXJK,DOVRUHDOL]HWKDWߨ
7KHUHIRUHߨ
7KHUHLVQRGRXEWWKDWߨ
+RZHYHULWLVSRVVLEOHWRWDFNOHWKLVVHULRXVLVVXHLQDQXPEHURIZD\V
2QHDSSURDFKZRXOGEH
ߨZRXOGEHSDUWLFXODUO\EHQHILFLDO
$VHFRQGSRVVLELOLW\ZRXOGEHWRߨ
ߨWKLVFRXOGLQYROYHߨ
0DQ\SHRSOHIHHOWKDWWKLVLVXQDFFHSWDEOHEHFDXVHߨ
2SSRQHQWVRIߨSRLQWRXWWKDWߨDQGDUJXHWKDWߨ
2QWKHRWKHUKDQGLWFDQQRWEHGHQLHGWKDWߨ
6XSSRUWHUVRIߨDUJXHWKDWߨ

,1752'8&,1*$)$/6($5*80(17
,WFRXOGEHDUJXHGWKDWߨ
6RPHSHRSOHZRXOGDUJXHWKDWߨ
7KHUHLVDOVRWKHLGHDLPSOLFLWLQWKHVWDWHPHQWWKDWߨ
,WLVRIWHQVXJJHVWHGWKDWߨ
'(02/,6+,1*$)$/6($5*80(17
7KLVLVSDUWO\WUXHEXWߨ
7RDFHUWDLQOLPLWHGH[WDQWWKHUHLVVRPHWUXWKLQWKLVߨ
+RZHYHUWKHLPSOLFDWLRQWKDWߨLVRYHUVLPSOLILFDWLRQ
7KLVDUJXPHQWKDVFHUWDLQVSHFLILFORJLFEXWߨ

352326,1*$&255(&7$5*80(17
,WLVFOHDUWKDWߨ
7KHUHDOVLWXDWLRQߨ
2EYLRXVO\ߨ
,WKLQNWWLVWKHUHIRUHTXLWHZURQJWRVXJJHVWWKDWߨ
 35$&7,&(63($.,1*7(67
1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXW\RXURXWGRRUKREELHV
'R\RXSUHIHULQGRRUKREELHVRURXWGRRUKREELHV":K\"
:KDWNLQGRIRXWGRRUKREELHVGR\RXHQMR\":K\GR\RXHQMR\WKHP"
:KDWRXWGRRUDFWLYLWLHVGR\RXZDQWWRWU\LQWKHIXWXUH":K\"

/HWߞVPRYHRQWRWDONDERXWKREELHVLQJHQHUDO
:K\GRSHRSOHVD\WKDWLWߞVLPSRUWDQWWRKDYHKREELHV"
7HOOPHDERXW\RXUIDYRXULWHKREE\:KDWߞVWKHPRVWLQWHUHVWLQJWKLQJ
DERXWLWLQ\RXURSLQLRQ"
,VLWHDV\WRILQGWLPHWRSUDFWLVH\RXUKREELHV":K\:K\QRW"
 3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

'HVFULEH\RXULGHDO
RXWGRRUSODFH

<RXVKRXOGVD\

:KHUHLWLV

:KHQGLGZLOO\RXJRWKHUH

:KDWDFWLYLWLHV\RXFDQGR
WKHUH

DQGVD\ZK\LVLWLGHDOIRU
\RX


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
$UH\RXSODQQLQJRQJRLQJEDFNWKHUHVRRQ"
,VLWHDV\IRU\RXWRJRWKHUH"


8SORDGHGE\606DIL
 3DUW7ZRZD\GLVFXVVLRQ

/HWߞVFRQVLGHUILUVWRIDOOKRZSHRSOHߞVYDOXHVKDYHFKDQJHG
:KDWNLQGRIKREELHVDUHSRSXODUDPRQJWHHQDJHUVLQ\RXUFRXQWU\":K\
GR\RXWKLQNWKHVHKREELHVDUHVRSRSXODU"
+RZGR\RXWKLQNWKLQJVKDYHFKDQJHGVLQFH\RXUJUDQGSDUHQWVߞWLPH"

)LQDOO\OHWߞVWDONDERXWWKHUROHRISHHUSUHVVXUH
'R\RXWKLQNSHHUSUHVVXUHLQIOXHQFHVWKHNLQGRIKREELHVSHRSOHFKRRVH
WRSUDFWLVH"+RZRU:K\"


8SORDGHGE\606DIL
 35$&7,&(63($.,1*7(67

1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXW\RXUKRPHWRZQRUYLOODJH
&DQ\RXGHVFULEHZKDWNLQGRISODFHLWLV"
:KDWߞVVSHFLDODERXW\RXUWRZQYLOODJH"
:KDWNLQGRIIUHHWLPHDFWLYLWLHVGRWKHSHRSOHLQ\RXUWRZQYLOODJHXVXDOO\
HQMR\"
:RXOG\RXVD\\RXUWRZQYLOODJHLVDJRRGSODFHWROLYH":K\"

/HWߞVPRYHRQWRWDONDERXWDFFRPPRGDWLRQ
:KDWNLQGRIDFFRPPRGDWLRQGR\RXOLYHLQ"
+RZORQJKDYH\RXOLYHGWKHUH"
:KDWDUHWKHDGYDQWDJHVRIOLYLQJWKHUH"
:KDWVRUWRIDFFRPPRGDWLRQZRXOG\RXOLNHWROLYHLQ":K\"


8SORDGHGE\606DIL
 3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

'HVFULEHDQRFFDVLRQ
ZKHQ\RXORVWVRPHWKLQJ

<RXVKRXOGVD\

ZKDW\RXORVW

KRZ\RXIRXQGLW

DQGKRZ\RXIHOWZKHQ\RX
IRXQGLW


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
:K\GRVRPHSHRSOHUHSHDWHGO\IRUJHWWKLQJV"
:KDWFDQSHRSOHGRWREHFRPHOHVVIRUJHWIXO"

8SORDGHGE\606DIL
 3DUW7ZRZD\GLVFXVVLRQ
/HWߞVFRQVLGHUKRZSHRSOHYDOXHSRVVHVVLRQV
:KDWߞVWKHEHVWWKLQJWRGRLI\RXILQGVRPHWKLQJYDOXDEOHRQVWUHHW"
:KDWW\SHVRISRVVHVVLRQVDUHFRQVLGHUHGLPSRUWDQWLQ\RXUFRXQWU\"
+DVWKLVDOZD\VEHHQWKHFDVHRUGLGSHRSOHYDOXHGLIIHUHQWWKLQJVLQWKH
SDVW"


8SORDGHGE\606DIL
 35$&7,&(63($.,1*7(67

1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXW\RXUVHOI
$UH\RXFXUUHQWO\DVWXGHQWRUGR\RXZRUN"
:K\GLG\RXFKRRVHWRGRWKLVFRXUVHMRE"
7HOOPHDOLWWOHDERXW\RXUGDLO\URXWLQH
,VWKHUHDQ\WKLQJ\RXZRXOGOLNHWRFKDQJHDERXW\RXUURXWLQH"

/HWߞVPRYHRQWRWDONDERXWVKRSSLQJ
:KRGRHVWKHPDMRULW\RIWKHVKRSSLQJLQ\RXUKRXVHKROG"
,VVKRSSLQJDSRSXODUDFWLYLW\DPRQJ\RXQJSHRSOHLQ\RXUFRXQWU\"
:K\ZK\QRW"
:KDWW\SHRIVKRSVGR\RXQJSHRSOHOLNHEHVWLQ\RXUFRXQWU\"

8SORDGHGE\606DIL
 3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

'HVFULEHDPHDQLQJIXO
HYHQWLQ\RXUOLIHVRIDU

<RXVKRXOGVD\

:KHQWKHHYHQWKDSSHQHG

:KR\RXZHUHZLWK

:KDWKDSSHQHG

$QGH[SODLQZK\\RXIHHOLW
ZDVVSHFLDORUPHDQLQJIXO


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
+RZRIWHQGR\RXWKLQNDERXWWKLVHYHQW"
,VWKHUHDQ\WKLQJ\RXZRXOGFKDQJHDERXWWKLVHYHQW"

8SORDGHGE\606DIL
 3DUW7ZRZD\GLVFXVVLRQ
/HWߞVWDONDERXWLPSRUWDQWHYHQWVLQ\RXUFRXQWU\
:KDWDUHWKHPRVWLPSRUWDQWHYHQWVLQ\RXUFRXQWU\"
:K\LVLWLPSRUWDQWWRKDYHQDWLRQDOFHOHEUDWLRQV"
+DVWKHZD\SHRSOHFHOHEUDWHLPSRUWDQWHYHQWVFKDQJHGRYHUWKH\HDUVLQ
\RXUFRXQWU\":K\"


8SORDGHGE\606DIL
 35$&7,&(63($.,1*7(67

1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXWWKHSODFHZKHUH\RXOLYH
7HOOPHDOLWWOHELWDERXWWKHSODFHZKHUH\RXOLYH
:KDWGR\RXOLNHDERXWLW"
,VWKHUHDQ\WKLQJ\RXZRXOGFKDQJHDERXWLW"
'HVFULEH\RXULGHDOSODFHWROLYH

/HWߞVPRYHRQWRWDONDERXWFORWKHV
'R\RXHQMR\VKRSSLQJIRUFORWKHV"
:KDWVRUWRIFORWKHVGR\RXOLNHWRZHDU"
,VIDVKLRQLPSRUWDQWLQ\RXUFRXQWU\"
+DYH\RXHYHUKDGWRZHDUDXQLIRUP"



8SORDGHGE\606DIL
 3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

'HVFULEHVRPHWKLQJ\RX
KDYHOHDUQWUHFHQWO\WKDW
\RXIRXQGXVHIXO

<RXVKRXOGVD\

:KDW\RXOHDUQW

:KDW\RXHQMR\HGDERXW
OHDUQLQJLW

:KDW\RXZRXOGFKDQJH
DERXWWKHH[SHULHQFH

$QGH[SODLQZK\LWZDV
XVHIXOWR\RX


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
+RZRIWHQGR\RXWKLQN\RXZLOOXVHWKLVNQRZOHGJHLQWKHIXWXUH"
,VWKHUHDQRWKHUVNLOO\RXZRXOGOLNHWROHDUQ":KDWLVLWDQGZK\"

8SORDGHGE\606DIL
 3DUW7ZRZD\GLVFXVVLRQ
/HWߞVWDONDERXWHGXFDWLRQ
,VWKHSXUVXLWRIKLJKHUHGXFDWLRQLPSRUWDQWWRSHRSOHLQ\RXUFRXQWU\"
:K\LVLWLPSRUWDQWWRFRPSOHWHKLJKHUHGXFDWLRQIRUVRPHSHRSOH"
+DVSHRSOHߞVDWWLWXGHWRZDUGVKLJKHUHGXFDWLRQFKDQJHGVLQFH\RXU
SDUHQWVߞWLPH":K\"
'RHVHGXFDWLRQJXDUDQWHHDJRRGMREZKHUH\RXOLYH"

1RZOHWߞVWDONDERXWWHFKQRORJ\DQGHGXFDWLRQ
+RZLPSRUWDQWLVLWIRUHGXFDWLRQDOLQVWLWXWLRQVWRKDYHFRPSXWHUVIRU
WKHLUVWXGHQWV"
+RZYDOXDEOHLVWKHLQWHUQHWDVDQHGXFDWLRQDOWRRO"





8SORDGHGE\606DIL
 35$&7,&(63($.,1*7(67

1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXWIRRG
7HOOPHDERXW\RXUIDYRXULWHIRRG
:KDWߞV\RXUOHDVWIDYRXULWHIRRG"
+RZKDV\RXUWDVWHFKDQJHGRYHUWKH\HDUV"
'HVFULEH\RXULGHDOPHDO

/HWߞVPRYHRQWRWDONDERXWJRLQJRXW
'R\RXHDWRXWRIWHQ"
:KDWߞVWKHPRVWLPSRUWDQWWKLQJIRU\RXZKHQ\RXJRRXW"
:KHUHGR\RXQJSHRSOHOLNHWRJRRXWZKHUH\RXOLYH"
'R\RXOLNHWRJRRXWRQ\RXURZQRUGR\RXSUHIHUWRJRRXWZLWKIULHQGV"


8SORDGHGE\606DIL
3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

'HVFULEHVRPHZKHUH\RX
OLNHWRHDW

<RXVKRXOGPHQWLRQ

:KHUHLVLW

:KDWNLQGRIIRRG\RXFDQ
HDWWKHUH

:K\GROLNHWRHDWWKHUH

DQGKRZRIWHQ\RXHDW
WKHUH


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
+RZLPSRUWDQWLVLWWRHDWDKHDOWK\EDODQFHGGLHW"
'RPRVWSHRSOHLQ\RXUFRXQWU\HDWDKHDOWK\GLHW"

8SORDGHGE\606DIL
3DUW7ZRZD\GLVFXVVLRQ
/HWߞVWDONDERXWGLHWV
:K\GR\RXWKLQNVRPHSHRSOHFKRRVHWREHYHJDQ"
+RZKDVSHRSOHߞVGLHWFKDQJHGLQ\RXUFRXQWU\RYHUWKHODVWWZHQW\\HDUV"
+RZGR\RXWKLQNWKHZD\SHRSOHHDWZLOOFKDQJHLQWKHIXWXUH"
:KDWLVDW\SLFDOPHDOLQ\RXUKRPHWRZQ"
'R\RXWKLQNWKDWDUHJLRQߞVIRRGGHILQHVLWVFXOWXUH",IVRKRZ"



8SORDGHGE\606DIL
 35$&7,&(63($.,1*7(67

1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXWOHLVXUH
7HOOPHDERXWWKHWKLQJV\RXHQMR\GRLQJLQ\RXUIUHHWLPH
:KDWGLG\RXXVHGWRHQMR\GRLQJLQ\RXUIUHHWLPHZKHQ\RXZHUH
\RXQJHU"
+RZPDQ\GD\VRIIGRPRVWSHRSOHJHWLQ\RXUFRXQWU\"
+RZLPSRUWDQWLVOHLVXUHWLPHIRU\RX"

/HWߞVPRYHRQWRWDONDERXWPXVLF
+RZRIWHQGR\RXOLVWHQWRPXVLF"
:KDWߞV\RXUIDYRXULWHNLQGRIPXVLF"
:KDWߞVDWUDGLWLRQDOW\SHRIPXVLFLQ\RXUFRXQWU\"
:K\LVPXVLFLPSRUWDQWWRVRPDQ\SHRSOH"

8SORDGHGE\606DIL
 3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

7DONDERXWDQH[FLWLQJ
H[SHULHQFH\RXKDYHKDG

<RXVKRXOGPHQWLRQ

ZKHQWKHH[SHULHQFHWRRN
SODFH

ZKHUHLWKDSSHQHG

ZKDWKDSSHQHG

DQGH[SODLQZK\WKHHYHQW
ZDVVRH[FLWLQJ


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
+RZLPSRUWDQWLVLWWRH[SHULHQFHGLIIHUHQWWKLQJVLQOLIH"
'RPRVWSHRSOH\RXNQRZOLNHWRH[SHULHQFHGLIIHUHQWWKLQJV"

8SORDGHGE\606DIL
 3DUW7ZRZD\GLVFXVVLRQ
/HWߞVWDONDERXWULVNV
,QZKDWZD\VLVOLIHEHFRPLQJULVNLHU"
,QJHQHUDOLVOLIHHDVLHURUPRUHGLIILFXOWWKDQLWZDVLQ\RXUSDUHQWVߞ
WLPH"
,VWDNLQJULVNVDSRVLWLYHRUDQHJDWLYH"
'R\RXWKLQNSHRSOHLQJHQHUDOWDNHOHVVULVNVDVWKH\JHWROGHU":K\:K\
QRW"

1RZOHWߞVPRYHRQWRWDONDERXWDGYHQWXUH
+RZLPSRUWDQWLVLWIRUSHRSOHWRH[SHULHQFHDGYHQWXUH"
$UH\RXQJSHRSOHLQ\RXUFRXQWU\DGYHQWXURXV"


8SORDGHGE\606DIL
 35$&7,&(63($.,1*7(67

1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXW\RXUKRPHWRZQ
7HOOPHDERXW\RXUKRPHWRZQ:KDWLVLWOLNH"
+DVLWFKDQJHGVLQFH\RXZHUH\RXQJHU",IVRKRZ"
:KDWGRSHRSOHWKHUHXVXDOO\GRIRUHQWHUWDLQPHQW"

/HWߞVPRYHRQWRWDONDERXWUHDGLQJ
+RZRIWHQGR\RXUHDG"
'R\RXSUHIHUUHDGLQJILFWLRQRUQRQILFWLRQ":K\"
:KDWNLQGRIQHZVGR\RXXVXDOO\IROORZ"
+RZGRPRVWSHRSOHJHWWKHQHZVLQ\RXUFRXQWU\":K\"



8SORDGHGE\606DIL
 3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

'HVFULEHDQHZVZHEVLWH
QHZVSDSHUPDJD]LQHRU
EORJ\RXHQMR\UHDGLQJ

<RXVKRXOGVD\

ZKDWNLQGRIQHZVZHEVLWH
PDJD]LQHRUEORJLWLVHJ
WHFKQRORJ\

KRZRIWHQ\RXUHDGLW

ZKDWNLQGRIWRSLFVLW
XVXDOO\GLVFXVVHV

DQGH[SODLQZK\\RXHQMR\
UHDGLQJLW


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
'R\RXSUHIHUUHDGLQJRQOLQHRURIIOLQHVRXUFHV":K\"
'R\RXWKLQNLWߞVLPSRUWDQWWRHQFRXUDJHFKLOGUHQWRUHDG":K\:K\QRW"

8SORDGHGE\606DIL
 3DUW7ZRZD\GLVFXVVLRQ
/HWߞVWDONDERXWQHZVSDSHUV
:KDWDGYDQWDJHVGRQHZVSDSHUVKDYHIRUILQGLQJRXWDERXWWKHQHZV
FRPSDUHGWROLVWHQLQJWRWKHUDGLRRUZDWFKLQJWY"
'R\RXWKLQNQHZVSDSHUVDQGQHZVZHEVLWHVVKRXOGEHIUHHWRSXEOLVK
ZKDWWKH\ZDQW":K\"

1RZOHWߞVPRYHRQWRWDONDERXWUHDGLQJDQGRQOLQHQHZV
:KDWDUHWKHDGYDQWDJHVRIRQOLQHQHZVSDSHUV"
'R\RXWKLQNLWߞVLPSRUWDQWWRIROORZWKHQHZVHYHU\GD\":K\"
,VUHDGLQJEHFRPLQJLQFUHDVLQJO\LPSRUWDQW":K\"

([WUDTXHVWLRQV
:KDWNLQGRIVWRULHVGRWKHPDLQVWUHDPPHGLDSXEOLVKDERXWIDPRXV
SHRSOHLQ\RXUFRXQWU\"
6KRXOGWKH\EHDOORZHGWRUHOHDVHVWRULHVDERXWSHRSOHߞVSULYDWHOLYHV"
:K\:K\QRW"
'R\RXWKLQNRQOLQHQHZVSDSHUVZLOORQHGD\UHSODFHWUDGLWLRQDO
QHZVSDSHUV":K\:K\QRW"




8SORDGHGE\606DIL
 35$&7,&(63($.,1*7(67

1RWH7KHH[DPLQHUZLOOLQWURGXFHKLPVHOIRUKHUVHOIDQGWKHQDVN\RXIRU
\RXUQDPHDQG,'EHIRUH\RXVWDUW

3DUW
/HWߞVWDONDERXW\RXUOLIHVW\OH
:RXOG\RXGHVFULEH\RXUVHOIDVDQDFWLYHSHUVRQ"
:KDWNLQGRIWKLQJVGR\RXOLNHWRGRWRXQZLQG":K\"
,VLWLPSRUWDQWWRKDYHDYDULHW\RIIUHHWLPHDFWLYLWLHV":K\"
+RZLPSRUWDQWLVLWWRKDYHDQDFWLYHOLIHVW\OH"

/HWߞVPRYHRQWRWDONDERXWVSRUW
'LG\RXSUDFWLVHDORWRIVSRUWDVDFKLOG"
:KDWLV\RXUIDYRXULWHVSRUWQRZDVDQDGXOW":K\"
+RZRIWHQGR\RXIROORZVSRUWVRQWY"
+RZGRPRVWSHRSOHNHHSILWLQ\RXUDUHD"



8SORDGHGE\606DIL
 3DUWߙ,QGLYLGXDOORQJWXUQ

&DQGLGDWH7DVN&DUG

'HVFULEHDVSHFLDO
VSRUWLQJHYHQWRU
FRPSHWLWLRQ\RXKDYHHLWKHU
SDUWLFLSDWHGLQRUZDWFKHG

<RXVKRXOGVD\

ZKDWW\SHRIHYHQWRU
FRPSHWLWLRQLWZDV

ZKHQDQGZKHUHLWZDV

ZKDWKDSSHQHG

DQGH[SODLQZK\LWZDV
LQWHUHVWLQJRUVSHFLDO


<RXZLOOKDYHWRWDONDERXWWKHWRSLFIRUWRPLQXWHV
<RXKDYHRQHPLQXWHWRWKLQNDERXWZKDW\RX
UHJRLQJWRVD\
<RXFDQPDNHVRPHQRWHVWRKHOS\RXLI\RXZLVK

5RXQGLQJRIITXHVWLRQV
+RZGLGLWPDNH\RXIHHO"

8SORDGHGE\606DIL
 3DUW7ZRZD\GLVFXVVLRQ
/HWߞVWDONDERXWH[HUFLVHDQGILWQHVV
:KDWDGYDQWDJHVRIUHJXODUH[HUFLVH"
:KDWDUHWKHEHVWZD\VWRNHHSILW"
6KRXOGHYHU\RQHEHHQFRXUDJHGWRH[HUFLVH":K\:K\QRW"
$UHSHRSOHLQ\RXUFRXQWU\OHVVKHDOWK\WKDQWKH\ZHUHLQ\RXUSDUHQWVߞ
WLPH"

1RZOHWߞVPRYHRQWRWDONDERXWVSRUW
:KDWLVWKHPRVWSRSXODUVSRUWLQ\RXUFRXQWU\":K\GR\RXWKLQNWKLVLV"
,VVSRUWDSDUWRIWKHFXOWXUHRIDFRXQWU\":K\:K\QRW"

([WUDTXHVWLRQV
6KRXOGVSRUWDQGILWQHVVEHJLYHQPRUHLPSRUWDQFHLQVFKRROVDQG
XQLYHUVLWLHV":K\:K\QRW"
+RZFDQ\RXQJSHRSOHEHHQFRXUDJHGWRVWD\KHDOWK\"
6KRXOGJRYHUQPHQWVWDNHDFWLRQWRHQVXUHSHRSOHDUHSK\VLFDOO\KHDOWKLHU"
:K\:K\QRW"



8SORDGHGE\606DIL
 ,(/7635$&7,&(&$5'6


8SORDGHGE\606DIL
 *RDOV
:KDWߞV\RXU :KDWLV
ELJJHVWJRDODWWKH VRPHWKLQJ\RXߞYH
PRPHQWDQGKRZGR QHYHUOHDUQHGEXW
\RXSODQWRDFKLHYH ZLVK\RXKDG"
LW" 
 
:KDWVKRUW :KDWORQJ
WHUPJRDOVGR\RX WHUPJRDOVGR\RX
KDYHDWWKHPRPHQW" KDYH"
 
 
7KLQNRIDWLPH :K\DUHJRDOV
ZKHQ\RXGLGQߞW LPSRUWDQW",Q\RXU
DFKLHYHRQHRI\RXU RSLQLRQLVLW
JRDOVGHVFULEHWKH HVVHQWLDOWRKDYH
VLWXDWLRQDQGKRZ JRDOVLQOLIH"
\RXIHOW 
 

+DYH\RXJRWDQ\ :KDWLVVXFFHVVWR
JRDOVWKDW\RXWKLQN \RX":KDWZRXOG
DUHXQUHDOLVWLF" EH\RXUGHILQLWLRQRI
 VXFFHVV"
 

8SORDGHGE\606DIL
 5HVWDXUDQWV )RRG
:KDWߞV\RXU 'R\RXOLNHWRHDW
IDYRULWHW\SHRI LQUHVWDXUDQWV"
IRRG",WDOLDQ 'HVFULEHWKHEHVW
6SDQLVK)UHQFK UHVWDXUDQW\RX
$PHULFDQ0H[LFDQ UHPHPEHUJRLQJWR
&KLQHVH7KDLHWF" 
 

$UH\RXDJRRG 'HVFULEHWKH
FRRN":KDWߞV\RXU ZRUVWUHVWDXUDQW\RX
VWDUGLVK" UHPHPEHUJRLQJWR
 
 

'R\RXOLNHߝMXQN +DYH\RXHYHU
IRRGߞ"'R\RXWKLQN HDWHQDWDQߝDOO\RX
ߝMXQNIRRGߞVKRXOG FDQHDWߞUHVWDXUDQW"
EHPRUHUHJXODWHG :DVWKHIRRGDV
E\WKHJRYHUQPHQW" JRRGDVDQRUPDO
 UHVWDXUDQW"
 
 
:KDWߞVWKHPRVW :KDWGR\RX
LPSRUWDQWWKLQJLQD WKLQNDERXWFKLOGUHQ
UHVWDXUDQW"ߝ9DOXH FU\LQJLQD
IRUPRQH\ߞWDVWH UHVWDXUDQWZKHQ\RX
DWPRVSKHUHRU DUHWU\LQJWRHDW"
G©FRU" 'RHVLWERWKHU\RX"
 




8SORDGHGE\606DIL
 :RUN
$WZKDWDJH :KDWߞVWKHZRUVW
ZRXOG\RXOLNHWR MRE\RXKDYHHYHU
UHWLUH":KDWGR\RX GRQH"
WKLQN\RXZLOOGR 
DIWHU\RXUHWLUH" 
 
2QDVFDOHRI :KDWFKDQJHV
KRZZRXOGUDWH ZRXOG\RXLQWURGXFH
\RXUMRE"WKH WRLPSURYH\RXU
EHVWDQGWKHZRUVW FXUUHQWMRE"
VFRUHV 
 


:KDWߞV\RXU ,I\RXZRQߝD
GUHDPMRE",I JD]LOOLRQߞGROODUVLQ
PRQH\ZDVQRWDQ WKHORWWHU\
LVVXHZKDWMRE WRPRUURZZRXOG
ZRXOG\RXFKRRVH" \RXUHWLUH"+RZ
 ZRXOG\RXVSHQG
 \RXUWLPH"
 

:KDWMREVJLYH :RXOG
SHRSOHDKLJKVWDWXV LQWURGXFLQJDGD\
LQ\RXUFRXQWU\" ZRUNZHHNEH
UHDOLVWLFLQ\RXU
FRXQWU\":K\RU
ZK\QRW"



8SORDGHGE\606DIL


8SORDGHGE\606DIL
 -RE,QWHUYLHZV
,VLWLPSRUWDQWWR :KDWVNLOOV
EHJRRGDWMRE DELOLWLHVDQG
LQWHUYLHZV":K\RU TXDOLWLHVGR
ZK\QRW" LQWHUYLHZHUV
JHQHUDOO\ORRNIRULQ
DFDQGLGDWH"



2QDVFDOHRI $UHMRE
KRZZRXOGUDWH LQWHUYLHZVDIDLU
\RXUMRELQWHUYLHZ DVVHVVPHQWRI
VNLOOV" VRPHRQHߞVVNLOOVDQG
 VXLWDELOLW\IRUDMRE"
 
 
:KDWDUHWKH +RZGR\RXIHHO
PRVWFRPPRQMRE ZKHQ\RXKDYHWRGR
LQWHUYLHZTXHVWLRQV" DMRELQWHUYLHZ"
3LFNRQHDQGDQVZHU 
LWZLWK\RXUSDUWQHU



+RZFRXOG :KDWSLHFHVRI
HPSOR\HUVPDNHMRE DGYLFHZRXOG\RX
LQWHUYLHZVIDLUHUIRU JLYHVRPHRQHZKRLV
FDQGLGDWHV" DERXWWRGRDMRE
LQWHUYLHZ"


8SORDGHGE\606DIL
 ,QYHQWLRQV
:KDWDUHWKH +RZGLGWKH
PRVWLPSRUWDQW LQYHQWLRQRIWKH79
LQYHQWLRQVRIWKH FKDQJHSHRSOH
V
WKDQGVW OLYHV"
FHQWXULHVLQ\RXU 
RSLQLRQ" 
 
+RZKDVWKH :KDWGR\RX
LQWHUQHWFKDQJHG WKLQNLVWKHZRUVW
SHRSOHߞVOLYHV"+DVLW LQYHQWLRQLQKLVWRU\"
EHHQDSRVLWLYHRUD 
QHJDWLYHFKDQJH" 




:KLFKWZR ,IVRPHRQH
LQYHQWLRQVZRXOG LQYHQWHGDWLPH
\RXOLNHWRVHHLQWKH PDFKLQHZKDWWLPH
QH[WRU\HDUV" ZRXOG\RXOLNHWR
:K\" YLVLW":K\"
 



+RZKDVWKH :KDWZRXOG\RX
,QWHUQHWLQIOXHQFHG LQYHQWLI\RXZHUHD
FRPPXQLFDWLRQ VFLHQWLVW":K\"
FRUUHVSRQGHQFHDQG 
DFFHVVWR
LQIRUPDWLRQ"


8SORDGHGE\606DIL


8SORDGHGE\606DIL
 %RG\/DQJXDJH
:K\GR\RXWKLQN +RZGR\RXXVH
ERG\ODQJXDJHLV ERG\ODQJXDJHWR
LPSRUWDQW" FRPPXQLFDWH"
 

:KDWW\SHRI :KDWW\SHRI
ERG\ODQJXDJHLV ERG\ODQJXDJHLV
FRQVLGHUHG FRQVLGHUHG
WKUHDWHQLQJLQ\RXU WKUHDWHQLQJLQ\RXU
FXOWXUH" FXOWXUH"
 
 
:KDWW\SHRI 'R\RXWU\WRXVH
ERG\ODQJXDJHLVQRW ERG\ODQJXDJHZKHQ
DOORZHGRUIURZQHG \RXFRPPXQLFDWHLQ
XSRQLQ\RXU (QJOLVK"
FXOWXUH" 



,QZKDWVLWXDWLRQV 'R\RXXVHWKH
FDQ\RXPLVLQWHUSUHW VDPHDPRXQWRIH\H
VRPHRQH
VERG\ FRQWDFWZLWKPHQ
ODQJXDJH" DQGZRPHQ":K\RU
 ZK\QRW"
 



8SORDGHGE\606DIL
 6SRUWV
'R\RXSOD\RU 'R\RXWKLQN
ZDWFKDQ\VSRUWV" HYHU\ERG\VKRXOG
 SUDFWLFHVSRUWV"


+RZRIWHQGR\RX +DYH\RXHYHU
H[HUFLVH" WULHGDQ\H[WUHPH
 VSRUWV":KLFKRQHV"
:KLFKRQHVZRXOG
\RXOLNHWRWU\"



:KDWGR\RX :KDWLV\RXU
WKLQNLVWKHPRVW IDYRULWHWHDPVSRUW"
SRSXODUVSRUWLQWKH 
ZRUOG"



:KDWLV\RXU 'RSURIHVVLRQDO
IDYRULWHVSRUWWHDP" DWKOHWHVJHWSDLGWRR
 PXFK":K\":K\
 QRW"
 



8SORDGHGE\606DIL
 +REELHV
:KDWߞV\RXU :KDWKREELHVGR
IDYRULWHKREE\DQG \RXKDYH"
KRZORQJKDYH\RX 
EHHQGRLQJLW"

'R\RXWKLQNLWߞV ,VFRVWDQ
LPSRUWDQWIRUSHRSOH LPSRUWDQWIDFWRUWR
WRKDYHKREELHV" FRQVLGHUZKHQ
:K\RUZK\QRW" FKRRVLQJDQHZ
 KREE\"



:KLFKKREELHV :KDWߞV\RXU
DUHWKHPRVWSRSXODU RSLQLRQRQKXQWLQJ
LQ\RXUFRXQWU\" DVDKREE\"
 


$UHWKHUHDQ\ :KDWߞVWKHPRVW
KREELHV\RXZRXOG GDQJHURXVKREE\
OLNHWRWU\" \RXFDQWKLQNRI"
 




8SORDGHGE\606DIL
 0XVLF 0RYLHV
:KDWNLQGRI :KDWNLQGVRI
PXVLFGR\RXOLNH" PXVLFGRQ
W\RX
 OLNH"


1DPHRQHRI\RXU 'R\RXOLNHWR
IDYRULWHVRQJVRIDOO ZDWFK79"
WLPH:KDWGRHVWKLV 
VRQJUHPLQG\RXRI" 
 
:KDWDUH\RXU 'R\RXOLNH
IDYRULWHNLQGVRI PRYLHV"
SURJUDPVRUVKRZV 
ULJKWQRZ"



:KDWߞV\RXUDOO :KRDUH\RXU
WLPHIDYRULWHPRYLH" IDYRULWHDFWRUVRU
:KHQGLG\RXILUVW DFWUHVVHV"
ZDWFKLW" 





8SORDGHGE\606DIL
 &ULPH
$UHVRPHSDUWVRI 'R\RXHYHUJHW
\RXUKRPHWRZQ DSSUHKHQVLYHDERXW
FRQVLGHUHGPRUH ZDONLQJRXWVLGH
GDQJHURXVWKDQ DIWHUGDUN"
RWKHUV":KLFK 
SDUWV"

,VJXQFRQWUROD 6KRXOGSHRSOH
JRRGLGHD"([SODLQ ZKRXVHLOOHJDOGUXJV
\RXURSLQLRQ EHVKRXOGEHSXWLQ
 MDLO"



:RXOGWKH 'RHVSULVRQKHOS
OHJDOL]DWLRQRIGUXJV UHKDELOLWDWH
KHOSORZHUFULPH LQPDWHV"6KRXOGLW"
UDWHV" 



:KDWFULPHVGR :KDWFULPHVGR
\RXWKLQNZLOO \RXWKLQNZLOO
LQFUHDVHLQWKH GHFUHDVHLQWKH
IXWXUH":K\" IXWXUH"
 




8SORDGHGE\606DIL
 &XOWXUH
:KDWVRUWRI :KDWDGYLFH
WKLQJVGHILQHD ZRXOG\RXJLYHWRD
FXOWXUH"(J WRXULVWYLVLWLQJ\RXU
ODQJXDJHEHOLHIV FRXQWU\IRUWKHILUVW
PXVLFHWF" WLPH"
 
,Q\RXURSLQLRQ ,VZKHQLQ
ZKDWLVWKHPRVW 5RPHGRDVWKH
LQWHUHVWLQJWKLQJ 5RPDQVGRJRRG
DERXW\RXUFXOWXUH" DGYLFHIRUVRPHRQH
:K\" WUDYHOLQJDEURDG"
 ([SODLQ



:KDWGR\RXOLNH +DYH\RXHYHUIHOW
DERXW\RXUFXOWXUH" FRQIXVHGE\WKH
 EHKDYLRURIVRPHRQH
 IURPDQRWKHU
 FRXQWU\"([SODLQ

:KDWGRQ
W\RX :KDWLVWKHPRVW
OLNHDERXW\RXU LPSRUWDQWWKLQJ
FXOWXUH" \RXUFXOWXUHKDV
 FRQWULEXWHGWRWKH
 ZRUOG"
 


8SORDGHGE\606DIL
 0DQQHUV
'REDGPDQQHUHG ,Q\RXURSLQLRQ
SHRSOHERWKHU\RX" ZKDWߞVWKHEHVWZD\
 WRWHDFKJRRG
PDQQHUVWR
FKLOGUHQ"

:KDWWKLQJVDUH :KDWWKLQJVDUH
FRQVLGHUHGEDG FRQVLGHUHGJRRG
PDQQHUHGLQ\RXU PDQQHUVLQ\RXU
FXOWXUH":K\" FXOWXUH"
 


,VLWLPSRUWDQWIRU $UHSHRSOHLQ
FKLOGUHQWRKDYH \RXUKRPHWRZQRU
JRRGPDQQHUVRU FLW\SROLWHRQWKH
VKRXOGWKH\H[SUHVV URDGZKHQWKH\
WKHPVHOYHVIUHHO\" GULYH"
 

+RZFDQ\RXEH &DQPDQQHUV
PRUHSROLWHZKHQ DIIHFW\RXUOHYHORI
\RXGULYH" VXFFHVVLQOLIH"
 ([SODLQ\RXU
 DQVZHU
 


8SORDGHGE\606DIL
 &UHDWLYLW\
,Q\RXURSLQLRQ 'R\RXFRQVLGHU
ZKDWLVFUHDWLYLW\" \RXUVHOIFUHDWLYH"
 ([SODLQ\RXU
DQVZHU

'R\RXWKLQN 'R\RXWKLQN
FUHDWLYLW\FDQEH PRUHHPSKDVLV
OHDUQHGRUDUH VKRXOGEHSODFHGRQ
SHRSOHERUQZLWKLW" FUHDWLYLW\DWVFKRRO"
 


'LVFXVVLGHDVIRU 'R\RXWKLQN\RX
DGHYLFHWKDWZRXOG QHHGWRWDNHULVNVLQ
PDNHSHRSOHߞVOLYHV RUGHUWREHFUHDWLYH"
HDVLHU 


,Q\RXURSLQLRQ &DQFUHDWLYLW\
ZKRDUHVRPHRIWKH KHOS\RXLQ\RXU
PRVWFUHDWLYH FDUHHUSURVSHFWV"
PXVLFLDQVDQG ([SODLQ
ZULWHUVLQWKHODVW 
\HDUV"





8SORDGHGE\606DIL
 'DWLQJ
'HVFULEH\RXU 'HVFULEH\RXU
LGHDOGDWHZLWK LGHDOSHUVRQWRJRRQ
VRPHRQH DGDWHZLWK
 

'R\RXJR +DYH\RXHYHU
'XWFKZKHQGDWLQJ EHHQRUZRXOG\RX
RUGR\RXWKLQNRQH HYHUJRRQDߝEOLQG
RIWKHSHRSOHRQWKH GDWHߞ"
GDWHVKRXOGSD\" 
 

'R\RXEHOLHYHLQ :KDWߞVWKH
ߝORYHDWILUVWVLJKWߞ" ELJJHVWߝFUXVKߞ
([SODLQ \RXߞYHHYHUKDGRQ
 VRPHRQH":DVLW
 PXWXDO"

'RSHUIHFW :KDWDUHVRPH
UHODWLRQVKLSVH[LVW" JRRGFRQYHUVDWLRQ
 WRSLFVWRWDONDERXW
 RQDILUVWGDWH"
 


8SORDGHGE\606DIL
 0HDQLQJRI(GXFDWLRQ
2QOLQH(GXFDWLRQ 7KHUHLVWRRPXFK
ZLOORQHGD\UHSODFH SUHVVXUHRQVWXGHQWV
WUDGLWLRQDOVFKRROV DQG\RXQJ
DQGXQLYHUVLWLHV HPSOR\HHVLQ\RXU
 FRXQWU\

8QLYHUVLW\ 3HRSOHVKRXOGJHW
HGXFDWLRQVKRXOGEH DMREIRUD\HDU
FRPSXOVRU\IRU EHIRUHWKH\JRWR
HYHU\RQH XQLYHUVLW\
 


9RWLQJIRUD +RPHVFKRROLQJLV
SROLWLFLDQZKRGLGQߞW EHWWHUWKDQSXEOLF
JRWRXQLYHUVLW\ VFKRROLQJ
ZRXOGQߞWEH 
VHQVLEOH


$ߝWRSFODVVߞ 7HDFKHUVVKRXOG
HGXFDWLRQ EHSDLGPRUH
JXDUDQWHHVDJRRG 
MRE 





8SORDGHGE\606DIL
 9DOXHRI(GXFDWLRQ
7KHJRYHUQPHQW *RYHUQPHQWVRI
VKRXOGRIIHUIXOO GHYHORSHGQDWLRQV
IXQGLQJWRVWXGHQWV VKRXOGRIIHUVWXGHQWV
ZKRZDQWWRVWXG\ IURPGHYHORSLQJ
QDWLRQVIXOOIXQGLQJ

,ISULYDWH 6FKRROVDQG
XQLYHUVLWLHVEUHDN XQLYHUVLWLHV
WKHODZWKH\VKRXOG VKRXOGQߞWEDQ
EHIRUFHGWRFORVH PRELOHSKRQHVLQ
FODVV



6RFLDOVNLOOVDUHDV 7KHLQWHUQHWKDV
LPSRUWDQWDVJRRG KDGDWHUULEOHHIIHFW
JUDGHV RQSHRSOHߞVOHYHORI
NQRZOHGJHDQG
VRFLDOVNLOOV

8QLYHUVLWLHV (YHU\ERG\VKRXOG
VKRXOGEHPRUH OHDUQ(QJOLVK
SUDFWLFDODQGRIIHU 
ߝD\HDULQLQGXVWU\ߞ


8SORDGHGE\606DIL
 3ROLWLFV
\HDUROGV 0XOWLFXOWXUDO
VKRXOGEHDOORZHGWR VRFLHWLHVDUH
YRWH7KH\DUH GDQJHURXVDVWKH\
PDWXUHDQG FDQOHDGWRFXOWXUDO
UHVSRQVLEOHHQRXJK PLVXQGHUVWDQGLQJV
 
&LWLHVOLNH1< ([WUHPLVWEHOLHIV
3DULV0DGULG DUHVRPHWLPHV
%DUFHORQD QHFHVVDU\DQGJRRG
/RQGRQKDYHKLJK 
FULPHEHFDXVHRI 
LPPLJUDWLRQ

3ROLWLFDOSDUWLHV 9RWLQJLVDZDVWH
VKRXOGQߞWEHDOORZHG RIWLPH
WRDFFHSWGRQDWLRQV 
IURPSULYDWH
HQWHUSULVHV

9RWLQJVKRXOGEH $OOSROLWLFLDQV
FRPSXOVRU\ VKRXOGKDYHD
 XQLYHUVLW\GHJUHH
DQGVSHFLDOWUDLQLQJ
WRWDNHSDUWLQ
SROLWLFV




8SORDGHGE\606DIL
 +DYH\RXHYHUߨ"
+DYH\RXHYHU +DYH\RXHYHU
FKHDWHGRQDQH[DP" IRUJRWWHQVRPHRQHߞV
 ELUWKGD\"


+DYH\RXHYHU +DYH\RXHYHU
JLYHQDIDOVHH[FXVH WULHGDQ\H[WUHPH
WRJHWRXWRI VSRUWV":KLFKRQHV
VRPHWKLQJ"'HVFULEH ZRXOG\RXOLNHWRWU\
WKHVLWXDWLRQ LQIXWXUH"
 

+DYH\RXHYHU +DYH\RXHYHU
EHHQWR7KDLODQG" EHHQVWXFNLQDQ
:KLFKFRXQWULHV HOHYDWRU"
ZRXOG\RXPRVWOLNH 
WRYLVLWDQGZK\"

+DYH\RXHYHU +DYH\RXHYHU
UHFHLYHGDSUHVHQW UHFHLYHGDSUHVHQW
WKDW\RXORYHG" WKDW\RXKDWHG"
:KDWZDVLW" :KDWZDVLW"
 

8SORDGHGE\606DIL
 0HHWLQJ3HRSOH
'R\RXOLNH :KDWDUHVRPH
PHHWLQJQHZSHRSOH" JRRGTXHVWLRQVWR
:K\" DVNVRPHRQH\RX
 MXVWPHW"


'R\RXIHHO :KDWDUHVRPH
QHUYRXVZKHQ\RX TXHVWLRQV\RX
PHHWQHZSHRSOH" VKRXOGQ
WDVNSHRSOH
 \RXMXVWPHW"


+RZFDQ\RX :KDWNLQGRI
TXLFNO\FUHDWH SHRSOHGR\RXOLNHWR
UDSSRUWZLWKQHZ PHHW"
SHRSOH\RXPHHW" 

'RSHRSOHLQ\RXU 'HVFULEHWKH
FRXQWU\XVHDORWRI DGYDQWDJHVRI
ERG\ODQJXDJHZKHQ PHHWLQJSHRSOHZKHQ
WKH\VSHDN" \RXPRYHWRDQHZ
 FRXQWU\


8SORDGHGE\606DIL
 /LYLQJ$EURDG
+DYH\RXHYHU :KLFKFRXQWU\RU
OLYHGDEURDG"+RZ FRQWLQHQWVZRXOG
FDQOLYLQJDEURDG \RXOLNHWROLYHLQ"
FKDQJHDSHUVRQ"

:KDWZRXOG\RX :K\GR\RXWKLQN
PLVVPRVWLI\RXKDG VRPHSHRSOHOLYH
WROLYHDEURDGIRU DEURDG"
VRPHWLPH"

:KDWGR\RX 'R\RXWKLQN
EHOLHYHZRXOGEHWKH HYHU\RQHVKRXOGOLYH
PRVWGLIILFXOWSDUWRI LQDQRWKHUFRXQWU\
OLYLQJLQDQRWKHU DWOHDVWRQFHLQWKHLU
FRXQWU\" OLIH"


+RZLVOLYLQJ 'R\RXNQRZ
DEURDGGLIIHUHQW DQ\RQHZKRKDV
IURPKDYLQJD GHFLGHGWROLYH
KROLGD\DEURDG" DEURDGIRUJRRG"





8SORDGHGE\606DIL
 6SDFH([SORUDWLRQ
+RZGRHVVSDFH $UHZHDORQHLQ
UHVHDUFKEHQHILWWKH WKHXQLYHUVH"
SHRSOH" ([SODLQ\RXU
 RSLQLRQ


:KDWSURJUHVVGR :RXOG\RX
\RXHVWLPDWHVSDFH FRQVLGHUWUDYHOLQJ
UHVHDUFKZLOODFKLHYH LQWRVSDFH"
RYHUWKHQH[WWZR
GHFDGHV"


,V\RXUFRXQWU\ 'R\RXWKLQNWKDW
LQYROYHGLQVSDFH LWLVZRUWKVSHQGLQJ
H[SORUDWLRQ" VRPXFKPRQH\RQ
 VSDFHH[SORUDWLRQ"


:KDWDVSHFWVRI 6KRXOG
RXUXQLYHUVHLQWHUHVW DVWURQRP\EHWDXJKW
\RXPRVW" LQVFKRROV":KDWLV
 \RXURSLQLRQ"




8SORDGHGE\606DIL
 )RRG
:KDWLV\RXU :KDWNLQGRIQHZ
FRXQWU\UHJLRQߞV IRRGZRXOG\RXOLNH
WUDGLWLRQDOGLVK" WRWU\"

:K\GRHVIRRG :KDWDUHWKH
SOD\DQLPSRUWDQW DGYDQWDJHVDQG
UROHLQFHOHEUDWLRQV" GLVDGYDQWDJHVRI
*HQHWLFDOO\
0RGLILHG)RRG"

,QZKDWZD\LV :RXOG\RXEX\
IRRGLPSRUWDQWLQ *HQHWLFDOO\
RXUOLYHV" 0RGLILHG)RRG"

+RZSRSXODULV :KDWZRXOG\RX
RUJDQLFIRRGLQ\RXU VD\LV\RXUIDYRXULWH
FRXQWU\" NLQGRIIRRG"

8SORDGHGE\606DIL
 &RRNLQJ
'R\RXWKLQNWKDW +RZPXFKGR\RX
WUDGLWLRQDOKRPH OLNHFRRNLQJ"
FRRNLQJLVDWKLQJRI
WKHSDVW"

:KDWGR\RX +RZLPSRUWDQWLV
WKLQNLVHDVLHUWR LWIRUPHQWRNQRZ
PDNHIRRGRU KRZWRFRRN"
GHVHUW"

:KRWDXJKW\RX 'R\RXKDYH
KRZWRFRRN" KRPHFRRNHGIRRG
HYHU\GD\RIWKH
ZHHN"

:K\GR\RXWKLQN 6KRXOGFRRNLQJ
WKHPRVWIDPRXV EHWDXJKWDWVFKRRO"
FKHIVDUHPHQ"




8SORDGHGE\606DIL
 7UDYHOOLQJ
+RZKDV :KDWEHQHILWVDUH
WHFKQRORJ\DIIHFWHG WKHUHWRWUDYHOOLQJ"
WKHZD\ZHWUDYHO"

+RZGRHV 6KRXOGZHWUDYHO
WUDYHOOLQJFRQWULEXWH RXURZQFRXQWU\
WRLQWHUQDWLRQDO EHIRUHWUDYHOOLQJ
XQGHUVWDQGLQJ" DEURDG"

$UHWKHUHDQ\ 'R\RXSUHIHUWR
ULVNVWRWUDYHOOLQJWR WUDYHOLQRUJDQLVHG
DQRWKHUFRXQWU\" JURXSVRU
LQGHSHQGHQWO\"

:KDWLVWKHZRUVW :KDWLV\RXU
H[SHULHQFH\RXKDYH IDYRXULWHPHDQVWR
KDGZKHQ WUDYHOYHU\ORQJ
WUDYHOOLQJ" GLVWDQFHV"

8SORDGHGE\606DIL
 6KRSSLQJ
:KDWߞV\RXU 'R\RXVKRSLQ
IDYRXULWHVWRUHIRU VPDOOVKRSVOLNH
FORWKHVERRNV ERXWLTXHVRUGR\RX
PXVLFHWF":KDWGR JRWRWKHELJ
\RXOLNHDERXWLW" GHSDUWPHQWVWRUHV"

'R\RXZDLWIRU +DYH\RXIRXQGD
WKHVDOHVDQGORRN JRRGEDUJDLQ
IRUEDUJDLQV" UHFHQWO\":KDWZDV
LW"

:K\GRSHRSOHJR :KDWLVWKHPRVW
ZLQGRZVKRSSLQJ" H[SHQVLYHLWHP\RX
KDYHHYHUERXJKW
DSDUWIURPDFDURU
KRXVH"

'R\RXIHHOWKDW +RZRIWHQGR\RX
JOREDOFKDLQVWRUHV PDNHLPSXOVH
VSRLOWKHFKDUDFWHU SXUFKDVHV"
RIDWRZQ"

8SORDGHGE\606DIL
 )DVKLRQ
:KDWDUHVRPHRI 'R\RXFRQVLGHU
WKHODWHVWIDVKLRQ \RXUVHOI
WUHQGVZKHUH\RX IDVKLRQDEOH"
OLYH"

+RZZRXOG\RX :K\GR\RXWKLQN
GHVFULEHWKHZRUNLQJ VRPHFORWKLQJFRPHV
OLIHRIDIDVKLRQ EDFNLQWRIDVKLRQ
PRGHO" DJDLQDIWHURU
\HDUV"
$UHWKHSULFHVRI :KLFKFLW\LQ
VRPHGHVLJQHU \RXUFRXQWU\ZRXOG
FORWKLQJMXVWLILHG" VD\LVWKHPRVW
IDVKLRQFRQVFLRXV"

:KRLVWKHEHVW :KLFKIDVKLRQ
GUHVVHGSHUVRQLQ DFFHVVRULHVDUHPRVW
\RXUIDPLO\" LPSRUWDQWWR\RX"

8SORDGHGE\606DIL
 :HDWKHU
+RZKDVWKH :KDWLVWKH
ZHDWKHUFKDQJHGLQ FROGHVWDQGKRWWHVW
\RXUUHJLRQRYHUWKH WHPSHUDWXUH\RX
ODVWIHZ\HDUV" KDYHHYHU
H[SHULHQFHG"
+RZFDQWKH 'RSUHIHUWROLYH
ZHDWKHUDIIHFWD LQDKRWRUDFROG
SHUVRQߞVPRRG" FOLPDWH"

:KDWLV\RXU +RZGRHVWKH
IDYRXULWHNLQGRI ZHDWKHUDIIHFWRXU
ZHDWKHU" OLIHVW\OH"

+DYH\RXHYHU )RUKRZPDQ\
H[SHULHQFHGH[WUHPH GD\VLVWKHZHDWKHU
ZHDWKHUVXFKDV IRUHFDVWLQ\RXU
KXUULFDQHVIORRGLQJ FRXQWU\DFFXUDWH"
HWF" 2QHWKUHHPRUH"

8SORDGHGE\606DIL
 $QLPDOV
:KDWDQLPDOV :KDWZRXOG\RX
ELUGVDQGLQVHFWVFDQ GRLI\RXIRXQGDQ
\RXVHHZKHUH\RX LQMXUHGDQLPDORU
OLYHߙLQ\RXUJDUGHQ ELUGE\WKHVLGHRI
DQGLQ\RXUDUHD" WKHURDG"
:KDWVKRXOGZH +DYH\RXHYHU
GRDERXW VHHQZLOGDQLPDOVXS
HQGDQJHUHGVSHFLHV FORVH"
VXFKDVWKHEOXH
ZKDOHWKHFKHHWDK
DQGWKHVQRZ
OHRSDUG"
,VLWFUXHOWRORFN :KLFKDQLPDOLV
XSDQLPDOVDQG WKHEHVWSHWWRKDYH"
ELUGVEHKLQGEDUVLQ
]RRVDQGVDIDUL
SDUNV"
:KLFKDQLPDOGR :KDWLV\RXU
\RXLGHQWLI\ZLWK" FRXQWU\ߞVQDWLRQDO
DQLPDO":K\ZDVLW
FKRVHQ"

8SORDGHGE\606DIL
 'ULYLQJ
:KDWNLQGRIFDU +DYH\RXHYHU
GR\RXGULYH" VXIIHUHGIURPURDG
UDJH"

:K\GR\RXWKLQN :LOOZHDOOVWLOOEH
PDQ\SHRSOHSUHIHU GULYLQJFDUVLQ
GULYLQJWRXVLQJ \HDUVߞ
SXEOLFWUDQVSRUW" WLPH"

+RZGR\RXIHHO :KDWLVVKRXOGEH
DERXWGULYHUOHVV WKHOHJDODJHIRU
FDUV" VRPHRQHWRJHWD
GULYLQJOLFHQFH"

:KDWLVWKH +RZZRXOG\RX
ORQJHVWFDUWULS\RX GHVFULEHWKHGULYLQJ
KDYHEHHQRQ" EHKDYLRXURISHRSOH
LQ\RXUFRXQWU\"

8SORDGHGE\606DIL
 7KH+XPDQ%RG\
:KDWPDNHVD ,I\RXFRXOGVZDS
SHUVRQDWWUDFWLYH" ERGLHVZLWK
VRPHERG\HOVHIRU
RQHGD\ZKRZRXOG
LWEH"
:RXOG\RXOLNH :KDWDUHWKHSURV
\RXUERG\WREH DQGFRQVRIWDWWRRV
FU\RJHQLFDOO\IUR]HQ DQGERG\SLHUFLQJV"
ZKHQ\RXGLH"

:RXOG\RXHYHU :KDWGR\RXOLNH
FRQVLGHUKDYLQJ WKHPRVWWKHOHDVW
SODVWLFVXUJHU\" DERXW\RXUERG\"

:KDWGR\RXGR :KLFKSDUWRI
WRORRNDIWHU\RXU \RXUERG\LVWKH
ERG\" PRVWVHQVLWLYHWR
LOOQHVVRUSDLQ"

8SORDGHGE\606DIL
 &RORUVDQG1XPEHUV
:KDWQXPEHUVRU 'R\RXSUHIHU
GDWHVDUHLPSRUWDQW FRORXURUEODFNDQG
WR\RX" ZKLWHILOPVDQG
SKRWRJUDSKV"

:KDWQXPEHUGR :KDWFRORXU
\RXFRQVLGHUDOXFN\ FORWKHVDQGVKRHVGR
QXPEHU" \RXSUHIHU":K\"

'R\RXKDYHRQH +RZFDQGLIIHUHQW
IDYRXULWHFRORXURU FRORXUVDIIHFWRXU
GLIIHUHQWIDYRXULWH PRRG"+RZ"
FRORXUVIRUGLIIHUHQW
WKLQJV"

:KDWGR\RX 'R\RXWKLQN
WKLQNLWZRXOGEH GLIIHUHQWFXOWXUHV
OLNHWREHFRORXU KDYHGLIIHUHQW
EOLQG" PHDQLQJVIRU
FRORXUV"



8SORDGHGE\606DIL
 )DPLO\
+RZRIWHQGR\RX :KLFKPHPEHURI
VHH\RXU \RXUIDPLO\DUH\RX
JUDQGSDUHQWVRU FORVHVWWR"
H[WHQGHGIDPLO\"

+RZLPSRUWDQW +RZLVIDPLO\OLIH
DUHIDPLOLHVWR GLIIHUHQWQRZ
VRFLHW\" FRPSDUHGWR
\HDUVDJR"

:RXOG\RXOLNHWR :KDWZRXOGVD\
NQRZ\RXIDPLO\ LVWKHLGHDOQXPEHU
WUHH" RIFKLOGUHQIRUD
IDPLO\"

:KDWUROHV +RZZRXOG\RX
VKRXOGGLIIHUHQW GHVFULEHWKHSHUIHFW
PHPEHUVRIDIDPLO\ IDPLO\"
KDYHLQDKRXVHKROG"

8SORDGHGE\606DIL
 +RPH
'HVFULEH\RXU ,IWKHUHZDVDILUH
GUHDPKRPH DW\RXUKRPHZKDW
ZRXOG\RXUHVFXH
ILUVW"

:KDWZRXOG\RX :KDWLV\RXU
GRLI\RXORVW\RXU IDYRXULWHURRPLQ
KRPHDQGEHFDPH \RXUKRPH"
KRPHOHVV"

0DQ\SHRSOHVD\ :KDWNLQGRI
WKDWWKHLUKRPHLV UHODWLRQVKLSGR\RX
WKHLUVDQFWXDU\,V KDYHZLWK\RXU
WKLVWUXHIRU\RX" QHLJKERXUV"

'R\RXWKLQNLWLV +RZLPSRUWDQWLV
EHWWHUWRUHQWRUWR LWIRU\RXWRNHHS
RZQ\RXUKRPH" \RXUKRXVHSHUIHFWO\
FOHDQDQGWLG\"

8SORDGHGE\606DIL
 )UHH7LPH
+RZZRXOG\RX :KDWLV\RXU
GHVFULEH\RXULGHDO IDYRXULWHDFWLYLW\WR
ZHHNHQG" GRDIWHUDORQJGD\
DWZRUNRUVFKRRO"

'R\RXKDYHPRUH 'R\RXWKLQN\RX
RUOHVVIUHHWLPH XVH\RXUIUHHWLPH
FRPSDUHGWR\RXU ZLVHO\"
SDUHQWVZKHQWKH\
ZHUH\RXUDJH"
:KDWDFWLYLW\ 'R\RXSUHIHUWR
ZRXOG\RXOLNHWRWU\ VSHQG\RXIUHHWLPH
WKDW\RXKDYHQߞW RQ\RXURZQRUZLWK
WULHG\HW" RWKHUV"

:KDWZRXOGEH :KDWVWDJHVLQ

WKHLGHDODPRXQWRI RXUOLIHGR\RXWKLQN
IUHHWLPHSHUGD\" ZHKDYHWKH
PRVWOHDVWIUHHWLPH"

8SORDGHGE\606DIL
 3XEOLF7UDQVSRUW
:KDWLVWKH +RZGR\RXWKLQN
ELJJHVWSUREOHP WUDQVSRUWZLOOEH
ZLWKSXEOLF GLIIHUHQWLQILIW\
WUDQVSRUWLQ\RXU \HDUVߞWLPH"
WRZQRUFLW\"
:KDWLV\RXU :KDWLVWKHPRVW
IDYRXULWHPRGHRI SRSXODUIRUPRI
SXEOLFWUDQVSRUW" WUDQVSRUWLQ\RXU
FLW\FRXQWU\"

:K\GR\RXWKLQN 'R\RXWKLQNWKDW
QRWHYHU\RQHLV JRYHUQPHQWVVKRXOG
XVLQJSXEOLF HQFRXUDJHSXEOLF
WUDQVSRUW" WUDQVSRUWDWLRQ
PRUH"
+RZVDIHLVLWIRU +RZJRRGLVWKH
SHRSOHWRXVHSXEOLF SXEOLF
WUDQVSRUWLQ\RXU WUDQVSRUWDWLRQLQ
FLW\DWDOOKRXUVRI \RXUFLW\"
WKHGD\DQGQLJKW"

8SORDGHGE\606DIL
 +RVSLWDO
+DYH\RXRUDQ\ 'R\RXEHOLHYH
PHPEHURI\RXU WKDWDOOKHDOWKFDUH
IDPLO\HYHUEHHQWR VKRXOGEHIUHH"
KRVSLWDO"

:KLFKJURXSVRI ,IDFORVHIULHQG
SHRSOHQHHGWR RUUHODWLYHQHHGHG
XVHKRVSLWDOVWKH \RXWRGRQDWHD
PRVWRIWHQ" NLGQH\IRUDNLGQH\
WUDQVSODQWZRXOG
\RXGRLW"
,QZKDWZD\VFDQ :RXOG\RXHYHU
\RXUORFDOKRVSLWDO FRQVLGHUJRLQJWR
EHLPSURYHG" KRVSLWDOIRUQRQ
HVVHQWLDOWUHDWPHQW
OLNHFRVPHWLF
VXUJHU\"
:KDWGR\RX :KDWGR\RX
WKLQNLVWKHHDVLHVW WKLQNLVWKHZRUVW
MRELQDKRVSLWDO" MRELQDKRVSLWDO"

8SORDGHGE\606DIL
 3UREOHPV
:KDWLVWKH :RXOG\RXUDWKHU
ELJJHVWSUREOHP\RX KDYHWHQVPDOO
KDYHIDFHGVRIDULQ SUREOHPVRURQHELJ
\RXUOLIH" SUREOHP"

:KDWVRFLDO :KHQGLG\RXODVW
SUREOHPVDUH\RXU KHOSVRPHERG\ZLWK
FRXQWU\UHJLRQ WKHLUSUREOHPV"
IDFLQJDWWKH
PRPHQW"

'R\RXWKLQN :RXOG\RXHYHU
PRVWSHRSOHEULQJ ZULWHRQDQLQWHUQHW
WKHLUSUREOHPVXSRQ IRUXPIRUDGYLFH"
WKHPVHOYHV"

:RXOG\RX ,VLWHDVLHUWR
FRQVLGHUWUDLQLQJWR WUXVWDVWUDQJHUWKDQ
EHFRPHDFRXQVHOORU VRPHERG\FORVHWR
DQGKHOSLQJSHRSOH \RXWRKHOS\RXZLWK
IRUDOLYLQJ" \RXUSUREOHPV"



8SORDGHGE\606DIL
 0HGLD
,I\RXFRXOGNHHS ,VWKHUHVXFKD
RQO\RQHIRUPRI WKLQJDVDQXQELDVHG
PHGLDZKLFKZRXOG VRXUFHRIQHZV"
\RXFKRRVH"

5DGLRLVRYHUD :KDWZRXOG
KXQGUHG\HDUVROG KDSSHQLIWKHPHGLD
:K\KDVQߞWLWHYHU MXVWVWRSSHG"
EHHQUHSODFHGE\D
PRUHPRGHUQIRUP
RIPHGLD"
+RZLQIOXHQFHG +RZFDQVWXGHQWV
DUH\RXE\WKH XVHGLIIHUHQWSDUWVRI
PHGLD" WKHPHGLDWR
LPSURYHWKHLU
ODQJXDJHVNLOOV"
6KRXOGWKH $UHQHZVSDSHUV
JRYHUQPHQWFRQWURO EHFRPLQJREVROHWH"
WKHSUHVV"

8SORDGHGE\606DIL
 +RWHOV
:RXOG\RXOLNHWR :KDWDUHWKH
ZRUNLQDKRWHO" DGYDQWDJHVDQG
GLVDGYDQWDJHVRI
VWD\LQJLQDKRWHO"

'R\RXXVHWKH ,I\RXZHUHWKH
VSDDQGOHLVXUH PDQDJHURIDQROG
IDFLOLWLHVZKHQ\RX WZRVWDUKRWHOWKDW
VWD\DWDKRWHO" ZDVLQGDQJHURI
FORVXUHKRZZRXOG
\RXWU\WRPDNHLW
SURILWDEOHDJDLQ"
+RZZRXOG\RX :KDWLV\RXU
GHVFULEHDW\SLFDO RSLQLRQRIODUJHDOO
GD\ߞVZRUNRIDKRWHO LQFOXVLYHUHVRUW
UHFHSWLRQLVW" KRWHOV"

'R\RXWKLQNLWLV 'RHV\RXU
DFFHSWDEOHWRWDNH EHKDYLRXUGLIIHU
WKLQJVVXFKDV ZKHQVWD\LQJLQD
EDWKUREHVVRDSHWF KRWHOFRPSDUHGWR
IURPDKRWHOURRP ZKHQ\RXDUHDW
ZKHQ\RXOHDYH" KRPH"



8SORDGHGE\606DIL
 /DQJXDJHV
:KDWDUHWKH :KLFKODQJXDJH
DGYDQWDJHVDQG GR\RXWKLQNZRXOG
GLVDGYDQWDJHVRI EHWKHEHVWJOREDO
(QJOLVKEHFRPLQJD ODQJXDJH"
JOREDOODQJXDJH"
:KDWERG\ ,VSUHVHUYLQJD
ODQJXDJHGR\RXXVH G\LQJODQJXDJHDV
LQ\RXUFXOWXUH" LPSRUWDQWDV
SUHVHUYLQJDQ
HQGDQJHUHGVSHFLHV"
$SDUWIURP 'R\RXDJUHHWKDW
(QJOLVKZKLFKRWKHU (QJOLVKLVHVVHQWLDO
ODQJXDJHZRXOG\RX IRUVXFFHVVLQRQHߞV
OLNHWROHDUQ" FDUHHU"

:KDWDJHLVWKH :KDWLVPRUH
EHVWWRVWDUWOHDUQLQJ LPSRUWDQWZKHQ
DQHZODQJXDJH" VSHDNLQJDIRUHLJQ
ODQJXDJHIOXHQF\RU
DFFXUDF\"

8SORDGHGE\606DIL
 7HFKQRORJ\
+DVWHFKQRORJ\ 'RWHFKQRORJLFDO
PDGHRXUOLYHVPRUH DGYDQFHVLQFUHDVH
FRPSOLFDWHG" WKHJDSEHWZHHQULFK
DQGSRRU"


:KLFKDUHDVRI :KLFKLQYHQWLRQ
WHFKQRORJ\DUHWKH KDVKDGDPRUH
PRVWLPSRUWDQWWR SRVLWLYHLPSDFWRQ
WHDFKDWVFKRRO" RXUOLYHVWKHPRELOH
SKRQHRUSHUVRQDO
FRPSXWHU"

'R\RXDJUHHWKDW 'R\RXEHOLHYH
WHFKQRORJ\KDVPDGH WKDWDGYDQFHVLQ
XVOD]\" WHFKQRORJ\FDXVHV
MREORVVHV"


,IPRELOHSKRQHV ,Q\RXURSLQLRQ
GLVDSSHDUHGRQH ZKLFKLQGXVWU\KDV
GD\KRZGR\RX EHHQPRVW
WKLQNSHRSOHZRXOG WUDQVIRUPHGE\
FRSH" WHFKQRORJ\"



8SORDGHGE\606DIL
 $UW
+RZZRXOG\RX :KDWSDLQWLQJV
GHVFULEH\RXU GUDZLQJVRU
UHODWLRQVKLSZLWK VFXOSWXUHVGR\RX
DUW" KDYHLQ\RXUKRPH"

,VFROOHFWLQJ :KDWߞVWKHSRLQW
ZRUNVRIDUWDJRRG LQRZQLQJDYDOXDEOH
LQYHVWPHQW" SLHFHRIDUWLILWKDV
WREHNHSWORFNHG
DZD\"
'R\RXJRWRDUW :KDWLV\RXU
H[KLELWLRQV GHILQLWLRQRIDUW"
JDOOHULHVDQWLTXH
PDUNHWV"

:KRLVWKHPRVW ,VWKHUHDQ\
IDPRXVDUWLVWIURP SXEOLFDUWLQ\RXU
\RXUFRXQWU\" FLW\"

8SORDGHGE\606DIL
 +LVWRU\
'R\RXWKLQNLWLV :KDWSHULRGRI
LPSRUWDQWWRKDYHD KLVWRU\ZRXOG\RX
NQRZOHGJHRI OLNHWROHDUQPRUH
KLVWRU\" DERXW"

6KRXOGKLVWRU\ :KLFKORFDO
OHVVRQVIRFXVRQ KLVWRULFDOILJXUHKDV
SROLWLFVDQGZDURU KDGWKHJUHDWHVW
RQVRFLDOFKDQJHV" LPSDFWRQ\RXU
FRXQWU\"
:KDWGR\RX :KLFKKLVWRULFDO
WKLQNRIWKHUHFHQW ILJXUHZRXOG\RX
KLVWRU\RI\RXU OLNHWRPHHW"
FRXQWU\WKHSDVW
\HDUV"
'R\RXWKLQN $UH\RXSURXGRI
KLVWRU\UHSHDWV WKHKLVWRU\RI\RXU
LWVHOI" FRXQWU\"

8SORDGHGE\606DIL
 %RRNV
+RZLPSRUWDQWLV :KDWVKRXOGEH
UHDGLQJERRNV" WKHUROHVRIOLEUDULHV
LQPRGHUQOLIH"

,I\RXFRXOGZULWH :RXOG\RXJRWR
DERRNZKDWNLQGRI ERRNVKRSVPRUH
ERRNJHQUHZRXOG RIWHQLIWKH\ZHUH
LWEH" IULHQGO\SODFHVZLWK
FRPIRUWDEOH
DUPFKDLUVDQG
FRIIHHVKRSV"
&RXOG\RXOLYHLQ :KDWLVWKHZRUVW
DZRUOGZLWKRXW ERRNWKDW\RXߞYH
ERRNV" HYHUUHDG"

+DYH\RXUHDG +RZFDQZH
PRUHWKDQRQHERRN HQFRXUDJHFKLOGUHQ
E\WKHVDPHDXWKRU" WRUHDGPRUH"

8SORDGHGE\606DIL
 ,(/76&219(56$7,21
48(67,216

7KHVHLQVWDQWFRQYHUVDWLRQZRUNVKHHWVDUHGHVLJQHGWRKHOS\RX
GHYHORSLGHDVIRUWKHH[DP
H[SORUHYRFDEXODU\\RXPLJKWQRWKDYHXVHGEHIRUH
JDLQIOXHQF\
DQGWRSUHSDUHIRUDUDQJHRISRVVLEOHFRQYHUVDWLRQWRSLFVWKDWFRXOG
DSSHDU
7KH\ߞUHQRWODLGRXWH[DFWO\WKHVDPHDVLQWKHH[DPDQGWKHVW\OHLV
GLIIHUHQWDVWKH\DUHGHVLJQHGWRVWLPXODWHLGHDVDQGJLYH\RXDFKDQFHWR
SUDFWLFHVSHDNLQJIUHHO\

7KH\FDQEHXVHGDVSDUWRI\RXUSUHSDUDWLRQDORQHRUZLWKDSDUWQHU
,I\RXZDQWWRPDNHWKHDFWLYLW\PRUHH[FLWLQJDQGPRUHOLNHDQH[DP\RX
FDQXVHDVWRSZDWFKDQGUHFRUG\RXUVHOIDQVZHULQJWKHTXHVWLRQV$IWHU\RX
KDYHDQVZHUHGWKHTXHVWLRQVOLVWHQWRWKHUHFRUGLQJDQGDQDO\VH\RXU
SHUIRUPDQFH<RXZLOOILQGWKLQJVWKDW\RXQHHGWRFRUUHFWDQGWKLQJVWKDW
\RXGLGZHOO7KHLPSRUWDQWWKLQJLVWKDW\RXJHWDOLWWOHEHWWHUHYHU\WLPH


8SORDGHGE\606DIL
 :25.25678',(6

:KDWGR\RXGR"'R\RXVWXG\RUDUH\RXFXUUHQWO\ZRUNLQJ"
:KDWGRHV\RXUMRESRVLWLRQFRXUVHHQWDLO"
&DQ\RXGHVFULEH\RXUWDVNVRQDGDLO\EDVLV"
:KDWLV\RXUIDYRULWHWDVNDWZRUNVXEMHFWDWVFKRRO"
:KDWLV\RXUOHDVWIDYRULWHWDVNDWZRUNVXEMHFW"
+RZZRXOG\RXGHVFULEH\RXUFXUUHQWMREVFKRRO"


8SORDGHGE\606DIL
 '$<62))

+RZPDQ\GD\VGR\RXZRUNDWWHQGFODVVSHUZHHN"
+RZPDQ\GD\VRIIGR\RXKDYHDZHHN"
:KDWGR\RXGRGXULQJ\RXUGD\VRII"
:KDWGR\RXGRGXULQJ\RXUKROLGD\"
+RZPXFKOHDYHSHU\HDUGR\RXWKLQNSHRSOHVKRXOGKDYHDVD
PLQLPXP",VWKHFXUUHQWPLQLPXPJRRG"


8SORDGHGE\606DIL
 $*($7:25.

$WZKDWDJHGRSHRSOHXVXDOO\VWDUWZRUNLQJLQ\RXUFRXQWU\"
:KDWLVWKHLGHDODJHIRUVRPHRQHWRVWDUWZRUNLQJ":K\"
:KDWLVWKHLGHDODJHIRUVRPHRQHWRVWRSZRUNLQJ":K\"
$WZKDWDJHZRXOG\RXZDQWWRUHWLUH":K\"


8SORDGHGE\606DIL
 -2%/2&$7,21

:KDWMREVDUHDYDLODEOHLQ\RXUKRPHWRZQ"
:KDWLVWKHPRVWSRSXODUFLW\LQ\RXUFRXQWU\LQWHUPVRIMRE
KXQWLQJ":K\"
:KDWLVWKHPRVWVRXJKWDIWHUMRELQ\RXUFRXQWU\":K\"
'HVFULEH\RXULGHDOFLW\RUWRZQWRZRUNLQ

8SORDGHGE\606DIL
 :25.,1*)520+20(

,Q\RXURZQZRUGVKRZZRXOG\RXGHILQHZRUNLQJIURPKRPH"
:KDWLVDJRRGH[FXVHWRZRUNIURPKRPH"
+RZGRSHRSOHVWD\SURGXFWLYHZRUNLQJIURPKRPH"
:KDWDUHWKHEHQHILWVRIZRUNLQJIURPKRPH"
:KDWDUHWKHGLVDGYDQWDJHVRIZRUNLQJIURPKRPH"
:KDWZRXOGLWWDNHIRU\RXWRSHUPDQHQWO\ZRUNIURPKRPH"
+RZSRSXODUDUHZRUNIURPKRPHMREVLQ\RXUFRXQWU\"
,Q\RXURSLQLRQVKRXOGZRUNLQJIURPKRPHEHDQRSWLRQIRUDOO
RIILFHZRUNHUV"


8SORDGHGE\606DIL
 6&+22//2&$7,21

+RZIDUGR\RXOLYHIURP\RXUFROOHJHRUXQLYHUVLW\"
+RZPDQ\KRXUVGR\RXFRPPXWHLQWRWDOSHUZHHN"
:RXOG\RXFRQVLGHUUHQWLQJDQDSDUWPHQWQHDU\RXUVFKRRO"
:K\:K\QRW"
:KDWGR\RXOLNHDERXWWKHORFDWLRQRI\RXUFXUUHQWVFKRRO"

8SORDGHGE\606DIL
 678'<,1*$%52$'

:K\GR\RXZDQWWRVWXG\DEURDG"
,Q\RXURSLQLRQH[SHULHQFHZKDWLVWKHEHVWFRXQWU\WRVWXG\
\RXUVXEMHFWLQ":K\"
,I\RXZHUHJLYHQDFKDQFHZKLFKFRXQWU\ZRXOG\RXOLNHWR
ZRUNLQ"
:KDWVKRXOGSHRSOHFRQVLGHUEHIRUHZRUNLQJRUVWXG\LQJ
DEURDG"
:K\GRVRPHSHRSOHSUHIHUWRVWXG\DEURDG"
:KDWW\SHRISHRSOHDUHLGHDOIRUVWXG\LQJDEURDG"
:KDWW\SHRISHRSOHGR\RXWKLQNZRXOGQRWEHVXFFHVVIXO
VWXG\LQJDEURDG"


8SORDGHGE\606DIL
 2)),&(/81&+

:KHUHGR\RXXVXDOO\HDWRXWGXULQJOXQFKEUHDN":K\"
:K\GRVRPDQ\SHRSOHSUHIHUHDWLQJRXWUDWKHUWKDQHDWLQJLQ
WKHLURIILFHRUXQLYHUVLW\"
:K\GRVRPHSHRSOHSUHIHUHDWLQJKRPHFRRNHGPHDOVLQWKH
RIILFHUDWKHUWKDQHDWLQJRXW"


8SORDGHGE\606DIL
 $)7(5:25.6&+22/$&7,9,7,(6

:KDWGR\RXXVXDOO\GRDIWHUZRUNFODVV"
+RZRIWHQGR\RXVWD\RXWZLWKIULHQGVDIWHUFODVVRUDIWHUZRUN"
:KDWGR\RXXVXDOO\GR"
,VLWLPSRUWDQWWRVSHQGWLPHZLWK\RXUFODVVPDWHVRUZRUN
FROOHDJXHVRXWVLGHRIVFKRRORUZRUN":K\:K\QRW"


8SORDGHGE\606DIL
 5(:$5'6$1'5(&2*1,7,21$7:25.

:K\VKRXOGHPSOR\HUVUHFRJQL]HHPSOR\HHVߞHIIRUWV"
+RZVKRXOGDQHPSOR\HUUHFRJQL]HDQHPSOR\HH"
+RZZRXOG\RXIHHOLI\RXZHUHUHFRJQL]HGIRUWKHTXDOLW\RI
\RXUZRUN":KDWUHZDUGZRXOG\RXOLNHWRUHFHLYH"


8SORDGHGE\606DIL
 7($0%8,/',1*

:K\LVLWLPSRUWDQWWRKDYHWHDPEXLOGLQJDFWLYLWLHVZKHQ\RX
ZRUNIRUDFRPSDQ\":KREHQHILWVWKHPRVWLQWHDPEXLOGLQJ
HPSOR\HHVRUHPSOR\HUV"
+RZGRHVWHDPEXLOGLQJKHOSDEXVLQHVVFRPSDQ\"


8SORDGHGE\606DIL
 :25.,1*+2856

:KDWGR\RXWKLQNDERXWWRMREV":RXOG\RXSUHIHUD
GLIIHUHQWWLPHWDEOH":K\"
,Q\RXURSLQLRQKRZPDQ\KRXUVVKRXOGVRPHRQHZRUNLQD
GD\":K\"
,Q\RXURSLQLRQKRZPDQ\GD\VVKRXOGVRPHRQHZRUNLQD
ZHHN":K\"


8SORDGHGE\606DIL
 29(57,0(

6KRXOGFRPSDQLHVEHDEOHWRIRUFHHPSOR\HHVWRZRUNRYHUWLPH"
:K\:K\QRW"
6KRXOGFRPSDQLHVEHIRUFHGWRSD\HPSOR\HHVIRUDQ\RYHUWLPH
WKH\ZRUN":K\:K\QRW"


8SORDGHGE\606DIL
 75$9(/

:KDWDUHWKHDGYDQWDJHVDQGGLVDGYDQWDJHVRIIUHTXHQWWUDYHO"
:RXOG\RXOLNHWRWUDYHODVSDUWRI\RXUMRE":K\:K\QRW"
:KHQDQGZKHUHZDV\RXUODVWWULS"
:KDWLV\RXUPRVWPHPRUDEOHWULS":K\"
:KLFKFRXQWU\ZRXOG\RXPRVWOLNHWRYLVLWLQ\RXUQH[WWULS"
:K\"


8SORDGHGE\606DIL
 (;3(5,(1&(

,Q\RXUFRXQWU\KRZFRPPRQLVLWWRVWD\LQWKHVDPHMREIRUD
ORQJWLPH":K\"
+RZLPSRUWDQWLVH[SHULHQFHZKHQ\RXߞUHMXVWVWDUWLQJRXW"
:K\"


8SORDGHGE\606DIL
 -2%352027,21

+RZLPSRUWDQWLVJHWWLQJDSURPRWLRQWR\RX":K\"
:KDWLVWKHEHVWZD\WREHSURPRWHGLQDMRE"
+RZFDQRIILFHSROLWLFVDIIHFWSURPRWLRQ"



8SORDGHGE\606DIL
 &2175$&76

+RZGR\RXIHHODERXWWKHJHQHUDOZD\FRPSDQLHVFRQWUDFW
ZRUNHUVLQ\RXUFRXQWU\"
:KREHQHILWVPRUHIURPFRQWUDFWVWKHZRUNHURUWKHFRPSDQ\"
,I\RXZHUHDEXVLQHVVRZQHUZRXOG\RXFRQVLGHUKLULQJ
ZRUNHUVIURPWKLUGSDUW\DJHQFLHV":K\"
+RZORQJVKRXOGDQHPSOR\HHEHXQGHUSUREDWLRQ"


8SORDGHGE\606DIL
 :25./,)(%$/$1&(

,Q\RXURZQZRUGVKRZZRXOG\RXGHILQHZRUNOLIHEDODQFH"
+RZLPSRUWDQWLVZRUNOLIHEDODQFH":K\"
+RZPXFKZRUNOLIHEDODQFHGR\RXFXUUHQWO\KDYH"
+RZFDQWKHJRYHUQPHQWKHOSLQDFKLHYLQJZRUNOLIHEDODQFHIRU
ZRUNHUVLQ\RXUFRXQWU\RUUHJLRQ"
'HVFULEHVRPHRQH\RXNQRZZKRKDVDJUHDWZRUNOLIHEDODQFH
)RU\RXZKDWDFWLYLWLHVKHOSLQDFKLHYLQJZRUNOLIHEDODQFH"


8SORDGHGE\606DIL
 0$1$*(0(17 /($'(56+,3

:KDWDUHWKHDGYDQWDJHVRIEHLQJDERVVPDQDJHURUOHDGHU"
:KDWDUHWKHGLVDGYDQWDJHVRIEHLQJDERVVPDQDJHURUOHDGHU"
,Q\RXURZQZRUGVKRZZRXOG\RXGHILQHDOHDGHU"
,VWKHUHDGLIIHUHQFHEHWZHHQDPDQDJHUDQGDOHDGHU":K\"
,VLWQHFHVVDU\WREHDJRRGOHDGHULQRUGHUWREHDJRRG
PDQDJHU"


8SORDGHGE\606DIL
 )5((/$1&,1*

+RZFRPPRQLVIUHHODQFLQJLQ\RXUFRXQWU\"
:K\GRVRPHSHRSOHFKRRVHWRZRUNDVIUHHODQFHUV"
:KDWDUHWKHDGYDQWDJHVRIZRUNLQJDVDIUHHODQFHU"
:KDWDUHWKHGLVDGYDQWDJHVRIZRUNLQJDVDIUHHODQFHU"
,I\RXZHUHJLYHQDFKDQFHZRXOG\RXZRUNDVDIUHHODQFHU"
:K\"


8SORDGHGE\606DIL
 ',))(5(17352)(66,216

:KDWDUHVRPHH[DPSOHVRISURIHVVLRQVWKDWVXLW\RXU
SHUVRQDOLW\"
:KDWLVWKHZRUVWMRE\RXFDQWKLQNRIIRU\RXUSHUVRQDOLW\"
:KDWDUHWKHPRVWSUHVWLJLRXVSURIHVVLRQVLQ\RXUFRXQWU\"
:K\"
:KRGR\RXWKLQNVKRXOGEHWKHPRVWZHOOSDLGLQWHUPVRIMREV"
:KRGR\RXWKLQNVKRXOGEHWKHOHDVWSDLGLQWHUPVRIMREV"
:KDWZDV\RXUGUHDPMREZKHQ\RXZHUHDNLG"
:KDWLV\RXUGUHDPMREQRZ"
*LYHQWKHRSSRUWXQLW\ZRXOG\RXSXUVXH\RXUGUHDPMRE":K\
RUZK\QRW"
+RZZHOOSDLGDUHSROLWLFLDQVLQ\RXUFRXQWU\",VWKLVIDLU"
:K\:K\QRW"
:KDWLVWKHPRVWLQGHPDQGMRELQ\RXUFRXQWU\"


8SORDGHGE\606DIL
 ('8&$7,21$1'-2%6

+RZLPSRUWDQWLVHGXFDWLRQDODFKLHYHPHQWWR\RX"
:KLFKLVPRUHLPSRUWDQWTXDOLILFDWLRQVRUH[SHULHQFH":K\"
+RZLPSRUWDQWLVH[SHULHQFHZKHQDSSO\LQJIRUDMRELQ\RXU
FRXQWU\"
,Q\RXUFRXQWU\KRZFKDOOHQJLQJLVLWWRILQGDMREIRUQHZO\
JUDGXDWHGFDQGLGDWHV":K\"
:DVLWGLIILFXOWWRJHW\RXUILUVWMRE"
:KDWDVVLVWDQFHGRUHFHQWJUDGXDWHVJHWIURPWKHJRYHUQPHQW
ZKHQDSSO\LQJIRUMREV"


8SORDGHGE\606DIL
 3(5621$/675(1*7+6$1':($.1(66(6

:KDWPDNHV\RXVWDQGRXWIURPRWKHUDSSOLFDQWVZKHQ\RX
DSSO\IRUDFRXUVHRUMRE":KDWDUH\RXUVWURQJSRLQWV"
:KDWߞV\RXUELJJHVWZHDNQHVV"
+RZGR\RXVHH\RXUFDUHHUHYROYLQJLQWKHQH[W\HDUV"
'R\RXWKLQNMRELQWHUYLHZVDUHDIDLUDVVHVVPHQWRID
FDQGLGDWHߞVVXLWDELOLW\IRUDMRE"

8SORDGHGE\606DIL
 <285$0%,7,216

:KDWGR\RXORRNIRULQDFDUHHU"
5DQNWKHIROORZLQJEHQHILWVDQGSHUNVLQRUGHURILPSRUWDQFHIRU
\RX([SODLQ\RXUDQVZHUV
)UHTXHQWWUDYHO
0DQDJHPHQWUHVSRQVLELOLWLHV
&KLOGFDUHEHQHILWV
/RQJKROLGD\V
7UDYHODQGIRRGDOORZDQFHV
)UHTXHQWVRFLDOHYHQWVDQGDFWLYLWLHVRUJDQL]HGE\WKH
FRPSDQ\
7KHRSWLRQWRZRUNIURPKRPH
:KDWEHQHILWVDQGSHUNVZRXOG\RXPRVWOLNHWRKDYHLQ\RXU
LGHDO"


8SORDGHGE\606DIL
 -2%+233,1*

+RZPDQ\MREVKDYH\RXKDGLQWKHSDVWILYH\HDUV"
:KDWGR\RXWKLQNDERXWMREKRSSLQJ"
:K\GRVRPHSHRSOHMREKRS"
+RZFDQMREKRSSLQJDIIHFW\RXUFDUHHU"

8SORDGHGE\606DIL
 6$/$5<

+RZLPSRUWDQWLVVDODU\LQDSSO\LQJIRUDMRE"
+RZLPSRUWDQWDUHVDODU\LQFUHDVHVIRUVWDIIPRWLYDWLRQ"
:RXOG\RXUDWKHUGRVRPHWKLQJ\RXORYHIRUDORZVDODU\RU
VRPHWKLQJ\RXKDWHIRUDKLJKVDODU\":K\"
,VLWJRRGIRUJRYHUQPHQWVWRLQWURGXFHODZVWRJXDUDQWHHD
PLQLPXPZDJH":K\RUZK\QRW"


8SORDGHGE\606DIL
 &/$660$7(6&2:25.(56$1'3(5621$/,7<

:KDWNLQGRISHRSOHGR\RXOLNHWRZRUNZLWK":K\"
:RXOG\RXFRQVLGHU\RXUVHOIDZRUNDKROLF":K\"
:RXOG\RXFRQVLGHU\RXUVHOIHDV\JRLQJ":K\"
:KDWGR\RXWKLQNDERXWSHRSOHZKRDUHHDV\JRLQJLQWKHLU
MREV"



8SORDGHGE\606DIL
 (0$,/

+RZKHOSIXOLVHPDLOLQJLQ\RXUOLIHLQJHQHUDO"
:K\LVLWVRPHWLPHVHDVLHUWRKDYHPLVXQGHUVWDQGLQJVZLWK
SHRSOHGXULQJHPDLOH[FKDQJHV"
'R\RXVRPHWLPHVIHHORYHUZKHOPHGE\WKHQXPEHURIHPDLOVLQ
\RXULQER["'R\RXKDYHDQ\WULFNVWRWDFNOHWKLVSUREOHP"
:KDWDUHWKHDGYDQWDJHVDQGGLVDGYDQWDJHVRIXVLQJHPDLO"


8SORDGHGE\606DIL
 7(&+12/2*<

+RZRIWHQGR\RXXVH\RXUSKRQHWRKHOS\RXLQ\RXUVWXGLHV"
:K\"
:KDWNLQGRIWHFKQRORJ\GR\RXXVHDWVFKRRO"
+RZKDVWHFKQRORJ\FKDQJHGWKHZD\ZHZRUN"
+RZKDVWHFKQRORJ\FKDQJHGWKHZD\ZHOHDUQ"


8SORDGHGE\606DIL
 3KRQHPLF&KDUW
VLQJOHYRZHOV GLSKWKRQJV

Ȫ L Ɋ X HȪ ȔȪ DȪ 

VKLS VKHHS ERRN VKRRW ZDLW FRLQ OLNH 

H Ȝ ș Ȕ Hș Ȫș Ɋș 

OHIW KHU WHDFKHU GRRU KDLU KHUH WRXULVW 

¦ Ɍ Ȓ ȑ șɊ DɊ  

KDW XS RQ IDU VKRZ PRXWK  

XQYRLFHGFRQVRQDQWV

S I ͧ W V Ƀ ɧ N
SHD IUHH WKLQJ WUHH VHH VKHHS FKHVV FRLQ
YRLFHGFRQVRQDQWV

E Y ° G ] ɒ ɤ J
ERDW YLGHR WKLV GRJ ]RR YLVLRQ MRNH JR

P Q ċ K Z O U M
PRXVH QRZ WKLQJ KRSH ZH ORYH UXQ \RX

8SORDGHGE\606DIL
 'RZQORDG0DUF5RFKHߞV6WDUWHU
/LEUDU\)25)5((

6LJQXSIRUWKHQRVSDPQHZVOHWWHUKHUH
KWWSVZZZLGPDGULGHVYLSUHVRXUFHVDQGJHWORWVPRUHH[FOXVLYH
FRQWHQWDOOIRU)5((7KHUHVRXUFHVLQFOXGH
)UHHZHHNO\SURIHVVLRQDO(QJOLVKERRNVDQGUHVRXUFHV
)UHH'RZQORDGDEOH3URIHVVLRQDO(QJOLVKUHVRXUFHV
/HJDODQG%XVLQHVV'RFXPHQW7HPSODWHV
%XVLQHVV(PDLOVDQG/HWWHUWHPSODWHV


8SORDGHGE\606DIL
 7KDQN\RX

,I\RXHQMR\HGWKLV,(/76VSHDNLQJERRN,ߞGEHYHU\
JUDWHIXOLI\RXߞGSRVWDVKRUWUHYLHZRQ$PD]RQ
<RXUVXSSRUWZRXOGOLWHUDOO\PHDQWKHZRUOGWRPH,UHDG
DOOWKHUHYLHZVSHUVRQDOO\VR,FDQJHW\RXUIHHGEDFNDQG
PDNHWKLVERRNHYHQEHWWHULQWKHIXWXUH

7KDQNVDJDLQIRU\RXUVXSSRUW


8SORDGHGE\606DIL