Professional Documents
Culture Documents
3D\7KH3ULFH
63,5,7%281'
:KHQ\RXVXŖHUWKHRXWFRPHRIDPRYHFKRRVHRQH
ij*DBOܝUTMFFQJOUIFOFXIPVTF&WFSZOJHIU*
Ɣ 0DNHWKHPRVWREYLRXVQHJDWLYHRXWFRPHKDSSHQ
Ɣ (QGXUH+DUPWRWKHVHYHULW\RIWKHHYHQW LOPXTPNFPOFܝTXBUDIJOH*XPLFVQPO5VFTEBZUP
Ɣ (QYLVLRQWZRQHJDWLYHRXWFRPHV5DWHRQHDVİOLNHO\ıDQG$VN BUPBEPONZXJOEPXTJMM*TDBSFEJUPὌCVUTP
WKH2UDFOHXVLQJWKH\HVQRWDEOH2QDİ\HVıPDNHWKDWRXWFRPH DSFFQZ-BTUOJHIU*DMJNCFEVQUPUIFSPPGUPMPPL
KDSSHQ2WKHUZLVHPDNHLWWKHRWKHU PVUUPUIFWBMMFZ
(QGXUH+DUP *ܠLOPXZPVܝSFIFSF*ܡZFMMFEܠ8IPFWFSܝTPVUUIFSF
:KHQ \RX IDFH GDPDJH VXŖHU [ HTXDO WR \RXU IRHıV UDQN RU DV KVTUTBZTPNFUIJOHܡ/PCPEZEJE
DSSURSULDWH WR WKH VLWXDWLRQ ,I \RXU DSSOLFDEOH VWDW LV VXŖHU WKH
UHPDLQLQJYDOXHDVPRPHQWXP,I\RXVXŖHU
5IFO*TBXIFS*TXFBSBSFBMMJWFXJUDIFXCZPO
Ɣ 6WUHVV 0HQWDO VWUDLQ VKRFN RU GHVSDLU WDNH UHVROYH ,I
UHVROYHLVRU\RXFKRRVHWRUHVLVWKDUPUROOKHDUW
IFSCSPPNTUJDL*OGBDU
JUXBTUXPXJUDIFT
JO
Ɣ ,QMXU\ 3K\VLFDO ZRXQG IDWLJXH RU LOOQHVV WDNH KHDOWK ,I TPNFLJOEPGὍHIU%BETBJENBHJDGBNJMJFTMJWFEJO
KHDOWKLVRU\RXFKRRVHWRUHVLVWKDUPUROOVWHHO UIJTDPVOUSZTJEF
DBTUJOHTQFMMTBOEBMMUIBU#VU*
2QDVWURQJ KLWFKRRVHRQH EPOܝUUIJOLUIFZMJLFFBDIPUIFSBOZNPSF*UIJOL
Ɣ 6KDNHLWRŖ7DNHKHDOWK UIFDPWFOTBSFBUXBS"OEUIFZXPOܝUTUPQVOUJM
Ɣ 5HPHPEHUWKHWUXWK7DNHUHVROYH UIFZܝSFUIFPOMZPOFTMFGUTUBOEJOHĴ
Ɣ (PEUDFHWKHSDLQ7DNHPRPHQWXP
2QDZHDN KLW\RXPD\VXŖHUPRPHQWXPLQH[FKDQJHIRUHLWKHU
KHDOWKRUUHVROYH2WKHUZLVHSUHVVRQ :KDWDP,UHDGLQJ"
2QDPLVVLWıVZRUVHWKDQ\RXWKRXJKW6XŖHUDQDGGLWLRQDORUIDFH 6SLULWERXQGLVD6ROR53*DQGKDFNRI,URQVZRUQE\6KDZQ
PRPHQWXP,I\RXUDSSOLFDEOHVWDWLV\RXPXVW)DFH'HVRODWLRQ 7RPNLQ 7KLV ZRUN OHWV \RX H[SORUH IDQWDVWLF ZRUOGV
LQVSLUHG E\ 6WXGLR *KLEOL DQG +D\DR 0L\D]DNL <RX FDQ
)DFH'HDWKıV'RRU PDNHWKHZRUOGV\RXUVHOIRUWRJHWKHURUUHYHDOWKHPDV\RX
:KHQ\RXDUHEURXJKWWRWKHEULQNRIGHVRODWLRQUROOKHDUW JRZLWKRUDFOHVWDEOHVDQGPRYHV
2QDVWURQJ KLW\RXUHVLVWDQGSUHVVRQ2QDZHDN KLWFKRRVHRQH
Ɣ <RXU ERG\ RU VSLULW EUHDNV EXW QRW EHIRUH \RX PDNH D QREOH
VDFULŗFH(QYLVLRQ\RXUŗQDOPRPHQWV
$Q\WLPH \RX HQFRXQWHU VRPHWKLQJ ULVN\ RU XQFHUWDLQ LQ
Ɣ <RXVHHDYLVLRQRIDGDUNIXWXUHRU$VNWKH2UDFOHDQG6ZHDU 6SLULWERXQG\RXUPRYHVDQGGLFHGHWHUPLQHWKHRXWFRPH
9RZVWRSUHYHQWWKLVWHUULEOHIDWH<RXUMRXUQH\PXVWFRQWLQXH 8VHWKHPRYHVWRJXLGH\RXRQ\RXUZD\
2QDPLVV \RXVXFFXPEWRGHVSDLURUKRUURUDQGDUHORVW
[[[
:HDUHDOOERXQGWRWKH(DUWK (QGWKH)LJKW
(YHU\WKLQJZHGRLVWKLVZRUOGUHŘHFWVRQRXUVRXOVDQGRXU 3URJUHVV0RYH
KHDUWV:HıOODOZD\VFKDQJHDQGJURZDVZHH[SORUH7RSOD\ :KHQ\RXWU\WRUHVROYHWKHRXWFRPHRIWKLVŗJKWUROOWKHFKDOOHQJH
GLFHDQGFRPSDUHWR\RXUSURJUHVV0RPHQWXPLVLJQRUHGRQWKLVUROO
6SLULWERXQG \RXıOO PDNH \RXU FKDUDFWHU DQG GURS WKHP
2QDVWURQJ KLW\RXVHL]HYLFWRU\
GRZQWKHUDEELWKROHWRQHZIDQWDVWLFZRUOGV 2QDZHDN KLWDVDERYHEXW\RXDOVRFKRRVHRQHRU$VNWKH2UDFOH
Ɣ ,WıVZRUVHWKDQ\RXWKRXJKW(QGXUH+DUP
6SLULWERXQG ZRUOGV YDU\ LQ WLPH SHULRG VW\OH OHYHO RI Ɣ $QHZGDQJHURUIRHDSSHDUVRUDQH[LVWLQJGDQJHUZRUVHQV
IDQWDV\ HWF %XW WKH\ ZLOO DOZD\V GURS \RX LQWR D GLYHUVH Ɣ <RX VXŖHU FROODWHUDO GDPDJH 6RPHWKLQJ RI YDOXH LV ORVW RU
ODQGVFDSH RI KXPDQV VSLULWV DQG GHPRQV +RZ WKHVH EURNHQRUVRPHRQHHOVHPXVWSD\WKHFRVW
Ɣ <RXıOOSD\IRULW$QREMHFWLYHIDOOVRXWRIUHDFK
JURXSVUHDFWWRHDFKRWKHUDQGUHVKDSHQDWXUHZLOOIRUPWKH
Ɣ 2WKHUVZRQıWIRUJHW<RXDUHPDUNHGIRUYHQJ
FUX[RIRXUVWRULHV 2QDPLVV\RXıYHORVWWKLVŗJKW3D\WKH3ULFH
:D\VWRSOD\ %DWWOH
Ɣ *XLGHG2QHSOD\HUWDNHVRQWKHUROHRIJDPHPDVWHU :KHQ \RX ŗJKW D EDWWOH DQG LW KDSSHQV LQ D EOXU HQYLVLRQ \RXU
*0WRGHVFULEHHQYLURQPHQWVDVSOD\HUVHQWHU REMHFWLYHDQGUROO,I\RXSULPDULO\Ĺ
WKHPYRLFHSHRSOHWKH\HQFRXQWHUDQGVWRU\WHOOWKH Ɣ )LJKWXVLQJ\RXUJULWRUZLOOSRZHU5ROOVWHHO
RXWFRPHVRISOD\HUPRYHV Ɣ 'HSHQGRQ\RXUFRXUDJHDOOLHVRUFRPSDQLRQV5ROOKHDUW
Ɣ )LJKWXVLQJWULFNHU\WREHIXGGOH\RXURSSRQHQWV5ROOVKDGRZ
Ɣ &R2S$OOSOD\HUVSOD\FKDUDFWHUVDQGYRLFHWKH Ɣ )LJKW XVLQJ FDUHIXO WDFWLFV WR RXWVPDUW \RXU RSSRQHQWV 5ROO
HQYLURQPHQWFROODERUDWLYHO\7KHJDPHLWVHOIZLOO ZLWV
KHOS\RXGHFLGHRXWFRPHVRIPRYHVDQGDGG Ɣ 8VHPDJLFRU\RXUHQYLURQPHQWWRDLG\RX5ROOVRXO
VXUSULVHVWR\RXUZRUOG 2QDVWURQJ KLW\RXDFKLHYH\RXUREMHFWLYHXQFRQGLWLRQDOO\7DNH
Ɣ 6ROR2QHSOD\HUSOD\VDORQHXVLQJWKHJDPHWR PRPHQWXP
UHYHDOWKHZRUOGDV\RXH[SORUH 2QDZHDN KLW\RXDFKLHYH\RXUREMHFWLYHEXWQRWZLWKRXWFRVW3D\
WKH3ULFH
2Q D PLVV \RX DUH GHIHDWHG DQG WKH REMHFWLYH LV ORVW WR \RX 3D\ WKH
3OD\PDWHULDOV 3ULFH
)RUSOD\KDYHDVHWRIWKHVHIRUHDFKSOD\HU
Ɣ 7ZRGıVIRUXVHDVSHUFHQWLOHGLFHDQGFKDOOHQJHGLFH
Ɣ 2QHGIRUXVHDV\RXUDFWLRQGLH
Ɣ $SULQWHGFKDUDFWHUVKHHWDQGDVVHWVLI\RXOLNH
[[[
([SORLWWKH6LWXDWLRQ 0DNH VXUH WR PDNH \RXU 6SLULWERXQG ZRUOGV \RXU RZQ
:KHQ\RXıUHLQFRQWURODQG\RXPRYHWRZDUGVDQREMHFWLYHHQYLVLRQ 3XUVXH LGHDV \RX KDYH DQG EHQG WKH HQYLURQPHQW WR WKH
\RXUDSSURDFKDQGUROO,I\RXDUHĹ VWRU\ \RX ZDQW WR WHOO (YHQ WLPH \RX SOD\ \RXıOO GHŗQH
Ɣ &KDUJLQJ EROGO\ LQWR DFWLRQ FRPLQJ WR WKH DLG RI RWKHUV RU DVSHFWV VXFK DV WKH KLVWRU\ RI \RXU ZRUOG PDJLF P\WKLF
FRPPDQGLQJ5ROOKHDUW EHDVWV DQG PRUH 7KH FKRLFHV \RX PDNH ZLOO KHOS LQVSLUH
Ɣ +LGLQJSUHSDULQJDQDPEXVKRUPLVGLUHFWLQJ5ROOVKDGRZ WKHSHUVRQDOYRZVGULYLQJ\RXUFKDUDFWHU
Ɣ &RRUGLQDWLQJDSODQRUVWXG\LQJDVLWXDWLRQ5ROOKHDG
Ɣ 8VLQJPDJLFRU\RXUHQYLURQPHQWWRDLG\RX5ROOVRXO
2QDKLW\RXVWD\LQFRQWURO2QDVWURQJ KLWFKRRVHWZR2QDZHDN
*DLQ LQVSLUDWLRQ IURP DQ\ KLVWRU\ RU PHGLD \RX OLNH WR
KLWFKRRVHRQH PDNHLWDSSHDOVSHFLŗFDOO\WR\RX
Ɣ 0DUNSURJUHVV
Ɣ 7DNHPRPHQWXP
Ɣ $GGRQ\RXUQH[WPRYHQRWDSURJUHVVPRYH 6ZHDULQJ9RZV
2Q D PLVV WKH ŗJKW FKDQJHV ORFDWLRQV RU D QHZ GDQJHU DSSURDFKHV 7KH FHQWUDO GULYLQJ IRUFH RI WKLV JDPH LV 6ZHDULQJ 9RZV
<RXUIRHKDVFRQWURODQG\RX3D\WKH3ULFH $OORIRXUVRXOVDUHWLHGWRWKLVZRUOGLQFOXGLQJQDWXUHDQG
WKH VSLULWV WKDQ LQKDELW LW :KHQ \RX 6ZHDU 9RZV \RX
5HDFW8QGHU)LUH VWUHQJWKHQWKDWFRQQHFWLRQ$9RZLVDSHUVRQDOTXHVW\RX
:KHQ \RXU IRHıV LQ FRQWURO DQG \RX WDNH DFWLRQ WR EHWWHU WKH RGGV WDNHRQWKDW\RXIHHOFRPSHOOLQJWRFRPSOHWH<RXKDYHWR
FKRRVH,I\RXıUH VHHLWWKURXJKWRSXVK\RXUVHOIWRZDUG\RXUXOWLPDWHIDWH
Ɣ ([HUWLQJ\RXUZLOOSRZHUWRLWVIXOOHVW5ROOKHDUW
<RX ZHUH DOZD\V PHDQW WR ŗQG WKLV SODFH DQG DFFRPSOLVK
Ɣ 8VLQJPDJLFRU\RXUHQYLURQPHQWWRDLG\RX5ROOVRXO
WKLVTXHVW$V\RXFRPSOHWH9RZVRYHUWLPH\RXUVRXOZLOO
Ɣ 0RYLQJLQWRKLGLQJRUFUHDWLQJDGLVWUDFWLRQ5ROOVKDGRZ
Ɣ &KDQJLQJWKHSODQRUŗQGLQJDZD\RXW5ROOKHDG VKLIW<RXZLOOJURZLQWRZKDW\RXZHUHDOZD\VPHDQWWREH
2QDVWURQJ KLW\RXVXFFHHGDQGVWHDOFRQWURO7DNHPRPHQWXP :KHQ \RX FUHDWH \RXU FKDUDFWHU \RX VWDUW ZLWK D )LUVW
2QDZHDN KLW\RXVXFFHHGEXWWKH\ıUHVWLOOLQFRQWURODQGVWULNHKDUG 9RZ :KHQ \RX VHWXS \RXU FDPSDLJQ \RX HQYLVLRQ RU
0DUNSURJUHVVDQG3D\WKH3ULFH HQFRXQWHUDQLQFLWLQJ LQFLGHQWZKLFKGURSV\RXLQWRDQHZ
2QDPLVVWKHVLWXDWLRQZRUVHQV3D\WKH3ULFH7KH\NHHSFRQWURO
HQYLURQPHQW DQG WULJJHUV D QHZ YRZ &KDUDFWHUV DOZD\V
VWDUW DW D WUDQVLWLRQDU\ SRLQW LQ WKHLU OLYHV 7KHUHıV
7XUQ7KH7LGH VRPHWKLQJ FRPLQJ WR DQ HQG IRU WKHP 6R ZKDWıV WKHLU
2QFHSHUŗJKWZKHQ\RXULVNLWDOO\RXPD\VWHDOLQLWLDWLYHIURP\RXU
ELJJHVW JRDO JRLQJ IRUZDUG RU ELJJHVW ZRUU\ DERXW WKH
IRHWRPDNHDPRYHQRWDSURJUHVVPRYH:KHQ\RXGRDGGDQG
WDNHPRPHQWXPRQDKLW IXWXUH":ULWHWKDWGRZQDVWKHLU)LUVW 9RZ2YHUWLPHWKLV
,I\RXIDLOWRVFRUHDKLWRQWKDWPRYH\RXPXVWVXŖHUDGLUHRXWFRPH YRZ PD\ EH UHVROYHG RU WKLQJV PLJKW FKDQJH ,W PLJKW
3D\WKH3ULFH VWRSPDWWHULQJWRWKHPFRPSOHWHO\
[[[
0RYHV &RPEDW 0RYHVŗJKWLQJGHIHQGLQJHVFDSH
:KHQWKLQJVDUHXQFHUWDLQXVHPRYHVWRŗQGWKHRXWFRPH :KHQLQFRPEDWLWıVDQHZVHWRIER[HV\RXPXVWŗOOEHIRUH\RXFDQ
RYHUFRPHWKHSHUVRQLQ\RXUZD\'HFLGHLI\RXUJRDOLVWRNLOOHYDGH
DQGDGGVRPHUDQGRPQHVVWRWKHZRUOG0RYHVZLOODOZD\V
HVFDSHHWF
VD\ij:KHQ\RXĴDVDWULJJHUIRUZKDWWRUROO6RIROORZ
WKHVHWULJJHUVWRNQRZZKHQWRXVHWKHP
(QWHUWKH)UD\
:KHQ\RXHQWHULQWRFRPEDWVHW\RXUREMHFWLYHDQGJLYHLWDUDQN
)LQGWKHIXOOOLVWRIPRYHVDVLWVRZQGRFXPHQW 7KHQUROOWRGHWHUPLQHZKRLVLQFRQWURO,I\RXDUH
Ɣ 'DUWLQJLQWRWKHPRVWGDQJHURXVVSRW5ROOVWHHO
6RPHPRYHVZLOOKDYH\RXVHWXSDSURJUHVV WUDFNRIER[HV Ɣ )DFLQJRŖRQHRQRQH5ROOKHDUW
(DFKWLPH\RXXVHWKHPRYH\RXıOOFKHFNPRUHER[HVRŖ Ɣ 8VLQJPDJLFRU\RXUHQYLURQPHQWWRDLG\RX5ROOVRXO
XQWLO\RXPDNHDSURJUHVV UROOWRFRPSOHWHWKLVVHWRI Ɣ 0RYLQJ LQWR SRVLWLRQ DJDLQVW DQ XQDZDUH IRH RU VWULNLQJ
FKDOOHQJHV ZLWKRXWZDUQLQJ5ROOVKDGRZ
Ɣ $PEXVKHG5ROOZLWV
2QDVWURQJ KLWWDNHERWK2QDZHDN KLWWDNHRQH
$FWLRQ5ROOV Ɣ 7DNHPRPHQWXP
Ɣ 0RYHVDUHFRPSRVHGRIVWURQJ KLWV ZHDN KLWV DQG Ɣ <RXıUHLQFRQWURO
PLVVHV:KHQ\RXPDNHDPRYH 2QDPLVVWKHIRHıVLQFRQWURODQGVWULNHV3D\WKH3ULFH
Ɣ 5ROOGWKH$FWLRQ GLHDQGG&KDOOHQJH GLFH
Ɣ 5ROO\RXU$FWLRQ'LHDQGDGG\RXUUHOHYDQWVWDW 6WULNH
0RYHVZLOOWHOO\RXZKDWVWDWWRXVHRUWRXVHRQHRI :KHQ\RXıUHLQFRQWURODQG\RXGHDODFUXVKLQJEORZUROOVWHHO
\RXUWUDFNVVXFKDVKHDOWKRUVXSSO\$VVHWVPD\DGG 2QDVWURQJ KLW0DUNGRXEOHSURJUHVVDQGVWD\LQFRQWURO
WRUROOVDVZHOO7KHHQGUHVXOWLV\RXU$FWLRQ 6FRUH 2QDZHDN KLW0DUNGRXEOHSURJUHVVEXW\RXUIRHWDNHVFRQWURO
Ɣ 5ROOWKH&KDOOHQJH 'LFHDQGFRPSDUHHDFKGLHıVUROO 2QDPLVV\RXUIRHWDNHVFRQWURODQGVWULNHV3D\WKH3ULFH
WRWKH$FWLRQ6FRUH
Ɣ ,I\RXU$FWLRQ6FRUHEHDWVERWKGLFHWKDWıVDVWURQJ &ODVK
KLW,ILWLVJUHDWHUWKDQRQHGLHLWıVDZHDN KLW :KHQ\RXUIRHıVLQFRQWUROEXW\RXŗJKWEDFNKDUGUROOVWHHO
2QDVWURQJ KLW0DUNGRXEOHSURJUHVV<RXRYHUZKHOPWKHPDQGJDLQ
Ɣ ,IERWK&KDOOHQJH'LFHEHDW\RXU$FWLRQ6FRUHLWıVD FRQWURO
PLVV2QDPLVVVRPHWKLQJEDGKDSSHQV 2QDZHDN KLW7KH\NHHSFRQWURODQG\RX3D\WKH3ULFH%XW\RXJLYH
MXVWDVEDGDV\RXJRW6WLOOPDUNSURJUHVV
$FWLRQ GLHG&KDOOHQJH GLFHG 2QDPLVV\RXıUHRXWPDWFKHGDQGPXVW3D\WKH3ULFH<RXUIRHNHHSV
FRQWURO
G G G
Y [[[
+HDO +LWVDQG0LVVHV
:KHQ \RX WUHDW DQ LQMXU\ RU DLOPHQW UROO KHDG ,I \RX PHQG \RXU 5HIHUWRWKHPRYHVWRŗQGRXWZKDWKDSSHQVZKHQ\RXJHW
RZQZRXQGVUROOVWHHORUKHDGZKLFKHYHULVORZHU
HDFKRXWFRPH7KHUHıVWKUHHSRVVLEOHRXWFRPHVRIDPRYH
2Q D VWURQJ KLW ,I WKH SDWLHQW KDV WKH ZRXQGHG FRQGLWLRQ \RX PD\
FOHDULW7KHQKHDOWKHPXSWRKHDOWK
2Q D ZHDN KLW DV DERYH EXW \RX PXVW VXŖHU VXSSO\ RU 䖶 䖶䖶
PRPHQWXP\RXUFKRLFH 6WURQJ +LW :HDN +LW 0LVV
2QDPLVV\RXUDLGLVLQHŖHFWLYH3D\WKH3ULFH <RXUDFWLRQVFRUH <RXUDFWLRQVFRUH <RXUDFWLRQVFRUH
LVJUHDWHUWKDQ LVJUHDWHUWKDQRQO\ LVQıWJUHDWHUWKDQ
)RUJH$&RQQHFWLRQ ERWKFKDOOHQJH RQHFKDOOHQJHGLH HLWKHURIWKH
:KHQ\RXVSHQGVLJQLŗFDQWWLPHZLWKDSHUVRQRUFRPPXQLW\VWDQG GLFH<RXVXFFHHG <RXSUREDEO\ FKDOOHQJHGLFH<RX
WRJHWKHUWRIDFHKDUGVKLSVRUPDNHVDFULŗFHVIRUWKHLUFDXVH\RXFDQ DWZKDW\RXDUH VXFFHHGHGEXWZLWK IDLOHGRUQHHGWR
DWWHPSWWRFUHDWHDERQG7KLVIXUWKHUV\RXU %RQGVWUDFN:KHQ\RX WU\LQJWRGR DOHVVHUHŖHFWRU PDNHVRPHVHULRXV
GR UROO KHDUW ,I \RX PDNH WKLV PRYH DIWHU \RX VXFFHVVIXOO\ )XOŪOO FRVW FRQFHVVLRQV
<RXU9RZWRWKHLUEHQHŗW\RXPD\UHUROODQ\GLFHRQFH
2QDVWURQJ KLWPDNHQRWHRIWKHERQGPDUNDWLFNRQ\RXU%RQGV
SURJUHVVWUDFNDQGFKRRVHRQH 0RPHQWXP
Ɣ 7DNHVSLULW
Ɣ 7DNHPRPHQWXP
<RXU PRPHQWXP YDOXH ZLOO UDQJH IURP D WR DQG
2QDZHDN KLWWKH\DVNVRPHWKLQJPRUHRI\RXŗUVW(QYLVLRQZKDWLW UHSUHVHQWVKRZ\RXDUHIDULQJLQ\RXUTXHVWV<RXıOOUDLVHRU
LVRU$VNWKH2UDFOH,I\RXGRLWRU6ZHDU9RZVDQGPDUNWKHERQG ORZHULWEDVHGEDVHGRQKRZPRYHVJR7KHPD[LV
2QDPLVVWKH\UHMHFW\RX3D\WKH3ULFH
7KHJUHDWHVWDVSHFWIRU\RXLV EXUQLQJ PRPHQWXP:KHQ
:ULWH<RXU(SLORJXH \RX KDYH SRVLWLYH PRPHQWXP DIWHU \RX UROO \RXU PRYH
3URJUHVV0RYH \RXPD\XVHPRPHQWXPWREHWWHUWKHRGGV:KHQ\RXGR
:KHQ \RX FORVH WKH ERRN RQ \RXU VWRU\ HQYLVLRQ WZR WKLQJV :KDW WKLV UHSODFH \RXU WRWDO $FWLRQ 6FRUH ZLWK \RXU FXUUHQW
\RX KRSH IRU DQG ZKDW \RX IHDU 7KHQ UROO WKH FKDOOHQJH GLFH DQG PRPHQWXP YDOXH
FRPSDUHWR\RXUERQGV0RPHQWXPLVLJQRUHGRQWKLVUROO
2QDVWURQJ KLW\RXŗQG\RXUZD\KRPHRUUHDFKWKHHTXLOLEULXP\RX
VRXJKW%XWLWıVEHWWHUWKDQ\RXKRSHG$QGPRUHUHDO 7KHQUHVHW\RXUPRPHQWXPWRLWVEDVHYDOXHOLNHO\
2QDZHDN KLW\RXUOLIHWDNHVDQXQH[SHFWHGWXUQEXWQRWQHFHVVDULO\ 'HSHQGLQJRQ\RXUFXUUHQWPRPHQWXPWKLVFDQWXUQ\RXU
IRUWKHZRUVH<RXŗQG\RXUVHOIVSHQGLQJ\RXUGD\VZLWKVRPHRQHRU UROOLQWRDZHDNRUHYHQVWURQJKLW
LQDSODFH\RXGLGQRWIRUHVHH(QYLVLRQLWZLWKWKH2UDFOH
2Q D PLVV \RXU IHDUV DUH UHDOL]HG %XW \RX FDQ VWLOO RYHUFRPH WKHP ,I \RX HYHU KDYH WR ORZHU \RXU PRPHQWXP EHORZ
VRPHGD\
(QGXUH+DUPIRUWKHUHPDLQLQJYDOXH\RXZRXOGVXEWUDFW
[[Y Y
&KDUDFWHU7UDFNV &RQQHFWLRQ 0RYHVUHODWLQJWRRWKHUV
Ɣ +HDOWK5HSUHVHQWV\RXUERGLO\ZHOOQHVVDQGSK\VLFDO
GDPDJH'HSOHWHVDV\RX(QGXUH+DUPLQMXU\ &RPSHO
:KHQ\RXDWWHPSWWRSHUVXDGHVRPHRQHWRGRVRPHWKLQJHQYLVLRQ
Ɣ 5HVROYH5HSUHVHQWV\RXUPHQWDOVWDWHDQGZLOOSRZHU
\RXUDSSURDFKDQGUROO,I\RX
'HSOHWHVDV\RX(QGXUH+DUPVWUHVV
Ɣ &KDUPSDFLI\EDUWHU RUFRQYLQFH5ROO KHDUW DGGLI\RX
Ɣ 6XSSO\ 5HSUHVHQWV \RXU HTXLSPHQW DPPR IRRG VKDUHDERQG
ZDWHU DQG JHQHUDO UHDGLQHVV :LOO GHSOHWH DV PRYHV Ɣ 7KUHDWHQRULQFLWH5ROOVWHHO
FRVWVXSSO\RU\RXVSHQGLWIRUUHVRXUFHV Ɣ /LHRUVZLQGOH5ROOVKDGRZ
2Q D VWURQJ KLW WKH\ıOO GR ZKDW \RX ZDQW RU VKDUH ZKDW WKH\ NQRZ
7DNHPRPHQWXP,I\RXXVHWKLVH[FKDQJHWR*DWKHU,QIRUPDWLRQ
3URJUHVV7UDFNV PDNHWKDWPRYHQRZDQGDGG
6RPHPRYHVKDYH\RXFUHDWH 3URJUHVV 7UDFNV WRNHHSWUDFN 2QDZHDN KLWDVDERYHEXWWKH\DVNVRPHWKLQJRI\RXLQUHWXUQ
(QYLVLRQZKDWWKH\ZDQWRU$VNWKH2UDFOH
RI\RXUJRDOV
2QDPLVV WKH\UHIXVHRUPDNHDGHPDQGZKLFKFRVWV\RXJUHDWO\3D\
Ɣ (DFKPRYHOLNHWKLVZLOOFRPHZLWKD3URJUHVV 0RYH WKH3ULFH
WKDW\RXıOOXVHWRHQGWKDWSDUWRIWKHVWRU\
Ɣ )RU3URJUHVV 0RYHV\RXZRQıWUROOWKH$FWLRQ'LH 6RMRXUQ
'R3URJUHVV0RYHVZKHQHYHU\RXIHHOUHDG\DQGXVH :KHQ\RXVSHQGWLPHLQDFRPPXQLW\VHHNLQJDVVLVWDQFHUROOKHDUW
WKH DPRXQW RI ER[HV \RX KDYH ŗOOHG LQ SODFH RI DQ ,I\RXVKDUHDERQGDGG
$FWLRQ6FRUH 2QDVWURQJ KLW\RXDQG\RXUDOOLHVPD\HDFKFKRRVHWZREHQHŗWV
Ɣ 3URJUHVV7UDFNVZLOODOZD\VKDYHDUDQNWURXEOHVRPH 2QDZHDN KLWFKRRVHRQH,I\RXVKDUHDERQGFKRRVHRQHPRUH
2QDKLW\RXDQG\RXUDOOLHVPD\HDFKIRFXVRQRQHRI\RXUFKRVHQ
GDQJHURXV IRUPLGDEOH H[WUHPH DQG HSLF(DFKUDQN
UHFRYHUDFWLRQVDQGUROOKHDUWDJDLQ,I\RXVKDUHDERQGDGG2QD
LVKDUGHUWKDQWKHODVWDQGWDNHVORQJHUWRFRPSOHWH$ VWURQJKLWWDNHPRUHIRUWKDWDFWLRQ2QDZHDNKLWWDNHPRUH
IXOOSURJUHVVER[FRQVLVWVRIIRXUWLFNV 2QDPLVVLWJRHVEDGO\DQG\RXORVHDOOEHQHŗWVIRUWKDWDFWLRQ
%HQHŪWV
+HUHıVKRZ\RXPDUNSURJUHVVIRUHDFKUDQN Ɣ 5HFXSHUDWH7DNHKHDOWKIRU\RXUVHOIDQGDQ\FRPSDQLRQV
Ɣ &RQVRUW7DNHVSLULW
Ɣ 7URXEOHVRPHJRDOER[HVSHUSURJUHVV Ɣ 3URYLVLRQ7DNHVXSSO\
Ɣ 'DQJHURXVJRDOER[HVSHUSURJUHVV Ɣ 3ODQ7DNHPRPHQWXP
Ɣ )RUPLGDEOHJRDOER[SHUSURJUHVV Ɣ 7DNH D TXHVW (QYLVLRQ ZKDW WKLV FRPPXQLW\ QHHGV RU ZKDW
Ɣ ([WUHPHJRDOWLFNVSHUSURJUHVV WURXEOHLWLVIDFLQJRU$VNWKH2UDFOH,I\RXKHOS6ZHDU9RZV
Ɣ (SLFJRDOWLFNSHUSURJUHVV DQGDGG
2QDPLVV\RXŗQGQRKHOSKHUH3D\WKH3ULFH
Y [[Y
5HDFK$0LOHVWRQH (QWHULQJ6SLULWERXQG
:KHQ \RX PDNH VLJQLŗFDQW SURJUHVV LQ \RXU TXHVW E\ RYHUFRPLQJ D /HWıVGURSRXUVHOYHVLQWRWKHZRUOGDQGEHJLQSOD\
FULWLFDO REVWDFOH FRPSOHWLQJ D SHULORXV MRXUQH\ VROYLQJ D FRPSOH[
P\VWHU\ GHIHDWLQJ D SRZHUIXO WKUHDW JDLQLQJ YLWDO VXSSRUW RU %XLOG \RXU ZRUOG
DFTXLULQJDFUXFLDOLWHP\RXPD\PDUNSURJUHVV
:RUOGV LQ 6SLULWERXQG DUH ŗOOHG ZLWK EXVWOLQJ FLWLHV
Ɣ 7URXEOHVRPHTXHVW0DUNSURJUHVV
Ɣ 'DQJHURXVTXHVW0DUNSURJUHVV
OXVKQDWXUDOODQGVFDSHVDQGHYHU\WKLQJLQEHWZHHQ
Ɣ )RUPLGDEOHTXHVW0DUNSURJUHVV Ɣ *UDEWKH6SLULWERXQG :RUOG 6KHHW DQGŗOORXWWKH
Ɣ ([WUHPHTXHVW0DUNWLFNV WUXWKVRIWKLVZRUOGRQHE\RQH
Ɣ (SLFTXHVW0DUNWLFN Ɣ 5ROODVHWRISHUFHQWLOHGLFHRUSLFNDQRSWLRQRQ
HDFKWDEOHWRGHFLGHWKHZRUOG
)RUVDNH<RXU9RZ Ɣ %HQGDQGWZLVWWKHRSWLRQVRUFUHDWHQHZRQHVWR
:KHQ\RXUHQRXQFH\RXUTXHVWEHWUD\\RXUSURPLVHRUWKHJRDOLV SHUVRQDOL]H\RXUQHZZRUOG
ORVWWR\RXFOHDUWKHYRZDQG(QGXUH+DUPVWUHVV
<RX VXŖHU UHVROYH HTXDO WR WKH UDQN RI \RXU TXHVW WURXEOHVRPH %XLOG \RXU FKDUDFWHU
GDQJHURXV IRUPLGDEOH H[WUHPH HSLF
1RZ WKDW \RX NQRZ WKH ZRUOG WKH\ ZHUH ERUQ LQWR
HQYLVLRQ\RXUFKDUDFWHUDQGWKHLUSODFHLQWKLVZRUOG
$GYDQFH &RQVLGHU WKHLU PRWLYDWLRQV ORYHV LQWHUHVWV VNLOOV
:KHQ\RXIRFXVRQ\RXUVNLOOVUHFHLYHWUDLQLQJŗQGLQVSLUDWLRQHDUQ
UHVSRQVLELOLWLHV SHUVRQDOLW\ DQG ZHDNQHVVHV %XW
DUHZDUGRUJDLQDFRPSDQLRQ\RXPD\VSHQGH[SHULHQFHWRDGGD
QHZDVVHWWRXSJUDGHDQDVVHWRUWRDGGRUXSJUDGHDVSHOO
OHDYHVRPHEXWŘHVKRXWGXULQJSOD\
Ù͜ *UDE WKH &KDUDFWHU VKHHW DVVHWV DQG SULQW WKH
FKDUDFWHUVKHHWLI\RXFDQ
$VN7KH2UDFOH è͜ (QYLVLRQ \RXU FKDUDFWHU KRZHYHU \RX OLNH
:KHQ \RX VHHN WR UHVROYH TXHVWLRQV GLVFRYHU GHWDLOV LQ WKH ZRUOG įXQERXQG E\ JHRJUDSK\ OLQHDJH VH[XDO
GHWHUPLQHKRZRWKHUFKDUDFWHUVUHVSRQGRUWULJJHUHYHQWV\RXPD\Ĺ RULHQWDWLRQ DQG JHQGHU <RXU FKDUDFWHU FDQ EH
Ɣ 'UDZDFRQFOXVLRQ'HFLGHRQWKHPRVWLQWHUHVWLQJUHVXOW LQVSLUHG E\ D UHDOZRUOG RU KLVWRULFDO FXOWXUH RU
Ɣ $VND\HVQRTXHVWLRQ'HFLGHWKHRGGVRID\HVDQGUROOEHORZ \RXPLJKWEHDEOHQGRILQŘXHQFHV
Ɣ 5ROOWRFKRRVHEHWZHHQWZRRSWLRQVRIYDU\LQJOLNHOLQHVV
Ɣ 6SDUNDQLGHD%UDLQVWRUPRUXVHDUDQGRPSURPSW
é͜ :ULWH D QDPH DQG SURQRXQV DW WKH WRS RI WKH
SDJH
2GGV 7KH DQVZHU LV İ\HVı LI \RX UROO ï͜ 'LVWULEXWH \RXU VWDWV LQ DQ\ RUGHU
/LNHO\ RUJUHDWHU 7ZRıVWZRıVDQGD:KDWDUH\RXJUHDWDW"
/HVV/LNHO\ RUJUHDWHU $QGQRWVRJUHDWDW"
8QOLNHO\ RUJUHDWHU
[[Y Y
ô͜ 7KHUHıVŗYHVWDWV 4XHVW 0RYHVYRZVSURJUHVVLPSURYHPHQW
ż +HDGH[SHUWLVHNQRZOHGJHREVHUYDWLRQ
ż +HDUWFRXUDJHZLOOHPSDWK\VRFLDELOLW\
6ZHDU9RZV
ż 6RXOPDJLFHQHUJLHVFRQQHFWLRQWRHDUWK :KHQ\RXWDNHRQDTXHVWZULWH\RXUYRZDQGJLYHWKHTXHVWDUDQN
ż 6WHHOSK\VLFDOVWUHQJWKHQGXUDQFHSURZHVV 7KHQ UROO KHDUW ,I \RX PDNH WKLV YRZ WR D SHUVRQ RU FRPPXQLW\
ż 6KDGRZVQHDNLQHVVGHFHSWLYHQHVVFXQQLQJ ZLWKZKRP\RXVKDUHDERQGDGG:KHQ\RX6ZHDU9RZV\RXıUH
I <RXU+HDOWK5HVROYHDQG6XSSO\VWDUWDW W\LQJ\RXUIDWHDQGVRXOZLWKWKDWRIDQRWKHU<RXıUHEHFRPLQJZKDW
J <RXU0RPHQWXPVWDUWVDW,WVUHVHWLVDQG \RXZHUHDOZD\VPHDQWWREH
WKHPD[LV 2QDVWURQJ KLW\RXDUHHPEROGHQHGDQGLWLVFOHDUZKDW\RXPXVWGR
K <RXKDYHH[SHULHQFHSRLQWVWRVSHQGRQ $VVHWV QH[WRU$VNWKH2UDFOH7DNHPRPHQWXP
2Q D ZHDN KLW \RX DUH GHWHUPLQHG EXW EHJLQ \RXU TXHVW ZLWK PRUH
3DWKVDQG&RPSDQLRQVDUHWKHVWURQJHVWDQGFRVW
TXHVWLRQV WKDQ DQVZHUV 7DNH PRPHQWXP DQG HQYLVLRQ ZKDW \RX
SRLQWV6SHOOVFRVW6SHQG\RXUSRLQWVQRZ
PXVWGRWRŗQGDSDWKIRUZDUG
L 'UDZEDFNVFRVWSRLQWV7KH\JLYH\RXEDFN 2Q D PLVV \RX IDFH D VLJQLŗFDQW REVWDFOH EHIRUH \RX FDQ EHJLQ \RXU
EXWRQO\WDNHDPD[RIWZR'UDZEDFNV$GGWKHVH TXHVW(QYLVLRQZKDWVWDQGVLQ\RXUZD\RU$VNWKH2UDFOHDQGVXŖHU
LI\RXOLNH$Q\SRLQWV\RXGRQıWVSHQGDUHORVW PRPHQWXP%XWSUHVVRQ
M 7KLQN DERXW \RXU DSSHDUDQFH :KDW HTXLSPHQW
GR\RXKDYH6XSSO\RI":KHUHDUH\RXIURP" )XOŗOO<RXU9RZ
3URJUHVV0RYH
%DFNJURXQG 9RZV %RQGV
:KHQ\RXDFKLHYHZKDW\RXEHOLHYHWREHWKHIXOŗOOPHQWRI\RXUYRZ
1RZZHıOOPDNHDQLQFLWLQJLQFLGHQWWKDWWKURZV\RXU UROO WKH FKDOOHQJH GLFH DQG FRPSDUH WR \RXU SURJUHVV 0RPHQWXP LV
FKDUDFWHULQWRWKHVWRU\ LJQRUHGRQWKLVUROO
ż &UHDWH IRU \RXUVHOI XS WR ERQGV WR VWDUW ZLWK 2Q D VWURQJ KLW \RXU TXHVW LV FRPSOHWH 0DUN H[SHULHQFH
7KHVHDUHLQGLYLGXDOVRUFRPPXQLWLHV\RXNQRZ WURXEOHVRPH GDQJHURXV IRUPLGDEOH H[WUHPH HSLF
ZHOO)RUHDFKZULWHWLFNRQ\RXU%RQGVWUDFN 2Q D ZHDN KLW WKHUH LV PRUH WR EH GRQH RU \RX UHDOL]H WKH WUXWK RI
\RXU TXHVW (QYLVLRQ ZKDW \RX GLVFRYHU RU $VN WKH 2UDFOH 7KHQ
5ROORQHDFK%HLQJVRUDFOHLI\RXOLNH PDUN H[SHULHQFH WURXEOHVRPH GDQJHURXV IRUPLGDEOH
ż *LYH \RXUVHOI D EDFNJURXQG YRZ DV SDUW RI \RXU H[WUHPH HSLF <RXPD\6ZHDU9RZVWRVHWWKLQJVULJKW,I\RXGR
FKDUDFWHUıV EDFNVWRU\ 7KLV LV VRPHWKLQJ WKH\ DGG
SURPLVHGWKHPVHOYHVWRŗQGRUDFFRPSOLVK*LYH 2QDPLVV\RXUTXHVWLVXQGRQH(QYLVLRQZKDWKDSSHQVRU$VNWKH
LWDUDQNRIH[WUHPHRUHSLF 2UDFOHDQGFKRRVHRQH
ż <RXU EDFNJURXQG YRZ PLJKW EH VRPHWKLQJ Ɣ <RX UHFRPPLW &OHDU DOO EXW RQH ŗOOHG SURJUHVV DQG UDLVH WKH
TXHVWıVUDQNE\RQHLIQRWDOUHDG\HSLF
WKH\ıUHIRFXVHGRQLQWKHEDFNRIWKHLUPLQGRU Ɣ <RXJLYHXS)RUVDNH<RXU9RZ
MXVWDIDURŖGUHDP
Y [[Y
*DWKHU,QIRUPDWLRQ 7KH ,QFLWLQJ ,QFLGHQW
:KHQ\RXVHDUFKDQDUHDDVNTXHVWLRQVFRQGXFWDQLQYHVWLJDWLRQRU $Q LQFLWLQJ LQFLGHQW LV WKH SUREOHP ZKLFK DUULYHV DW
IROORZ D WUDFN UROO KHDG ,I \RX DFW ZLWKLQ D FRPPXQLW\ RU DVN WKH EHJLQQLQJ RI D VWRU\ SURSHOOLQJ \RXU FKDUDFWHU
TXHVWLRQVRIDSHUVRQZLWKZKRP\RXVKDUHDERQGDGG LQWRDQHZHQYLURQPHQWRUZRUOG
Ù͜ (YHU\WKLQJ XS WR WKDW SRLQW LV EDFNVWRU\įWKH
2QDVWURQJ KLW\RXGLVFRYHUVRPHWKLQJKHOSIXODQGVSHFLŗF7KHSDWK
\RX PXVW IROORZ RU DFWLRQ \RX PXVW WDNH WR PDNH SURJUHVV LV PDGH
QRUPDO ZRUOG WR ZKLFK \RXU FKDUDFWHU KDV
FOHDU (QYLVLRQ ZKDW \RX OHDUQ RU $VN WKH 2UDFOH DQG WDNH EHFRPHDFFXVWRPHG7KLVLVWKHWLSSLQJSRLQW
PRPHQWXP è͜ (QYLVLRQ WKH QHZ ZRUOG \RX ŗQG \RXUVHOI LQ RU
2QDZHDN KLWWKHLQIRUPDWLRQFRPSOLFDWHV\RXUTXHVWRULQWURGXFHVD DUHIRUFHGWRHQWHU5ROO/RFDOH2UDFOHVLI\RXOLNH
QHZGDQJHU(QYLVLRQZKDW\RXGLVFRYHURI$VNWKH2UDFOHDQGWDNH é͜ :KDW NHHSV WKHP KHUH DQG PDNHV WKHP WUDYHO
PRPHQWXP RQZDUG"7KLVSUREOHPGLFWDWHVZKDWGULYHV\RXU
2Q D PLVV \RXU LQYHVWLJDWLRQ XQHDUWKV D GLUH WKUHDW RU UHYHDOV DQ
XQZHOFRPHWUXWKWKDWXQGHUPLQHV\RXUTXHVW3D\WKH3ULFH
ŗUVW VHVVLRQ DQG VHWV \RXU FKDUDFWHUıV VWRU\ LQ
PRWLRQ
ż )RU LGHDV \RX FDQ XVH ZRUOG WUXWKV WDON LW
)RUDJH RXWDWWKHWDEOHRUSLFNDQ\RUDFOH
:KHQ\RXKXQWUHSXUSRVHRUVFDYHQJHVXSSOLHVUROOKHDG
2QDVWURQJ KLW\RXEROVWHU\RXUUHVRXUFHV7DNHVXSSO\ ż (QYLVLRQ KRZ WKLV KLJKOLJKWV ZHDN SRLQWV
2QDZHDN KLWWDNHXSWRVXSSO\EXWVXŖHUPRPHQWXPIRUHDFK DQGPRWLYDWLRQV\RXUFKDUDFWHUKDV
2QDPLVV\RXŗQGQRWKLQJKHOSIXO3D\WKH3ULFH ż /HYHUDJHVWRU\WKHPHVZKLFKDUHLQWHUHVWLQJ
WR\RXDVWKHSOD\HU
&KHFN6XSSOLHV ż 0DNH \RXU FKDUDFWHUıV SUREOHP D WLFNLQJ
:KHQ \RX FKHFN WR VHH LI \RX KDYH D VSHFLŗF KHOSIXO LWHP DQG \RX FORFN 7KH SUREOHP ZLOO JHW ZRUVH LI \RX
KDYHDWOHDVWVXSSO\QDPHLWDQGUROOVXSSO\ GRQıWDFW
2QDVWURQJ KLW\RXKDYHVRPHWKLQJOLNHLW7DNHPRPHQWXP
2QDZHDN KLWDVDERYHEXW\RXUUHVRXUFHVDUHGLPLQLVKHG6XŖHU 6HW 7KH 6FHQH
VXSSO\RUPRPHQWXP <RXKDYHWZRRSWLRQVIRUVWDUWLQJSOD\
2Q D PLVV \RX GRQıW KDYH LW DQG WKH VLWXDWLRQ JURZV PRUH SHULORXV
3D\WKH3ULFH
Ù͜ 7KH 1RUPDO :RUOG (QYLVLRQ D SURORJXH
LQYROYLQJ\RXUFKDUDFWHUZKLFKKHOSVWRŘHVKRXW
ZKR \RX DUH DQG KRZ \RX LQWHUDFW ZLWK \RXU
ZRUOG 5ROHSOD\ UHODWLRQVKLSV ZLWK EDFNJURXQG
ERQGV<RXULQFLWLQJLQFLGHQWFDQWKHQVHUYHDVDQ
HYHQW RU WKUHDW ZKLFK ŗQGV \RX <RX FDQ HYHQ
OHDYHLWXQGHFLGHGDQGSOD\WRŗQGRXW
[[Y [
è͜ ,Q 0HGLD 5HV6WDUW\RXUVWRU\DWDFUXFLDOSRLQW (PEDUNRQD-RXUQH\
<RXU LQFLWLQJ LQFLGHQW LV KDSSHQLQJ QRZ RU LV :KHQ\RXWUDYHODFURVVKD]DUGRXVRUXQIDPLOLDUODQGVVHWWKHUDQNRI
VRPHWKLQJ\RXDUHIXOO\DZDUHRIDQGPXVWUHDFW \RXUMRXUQH\
WR %HJLQ ZLWK D WHQVH DFWLRQRULHQWHG VFHQH DV Ɣ 7URXEOHVRPHMRXUQH\SURJUHVVSHUZD\SRLQW
\RX HQFRXQWHU WKH SUREOHP 2U IUDPH D VFHQH Ɣ 'DQJHURXVMRXUQH\SURJUHVVSHUZD\SRLQW
ZKHUH\RX6ZHDU9RZVRIZKDW\RXPXVWGR/HW Ɣ )RUPLGDEOHMRXUQH\SURJUHVVSHUZD\SRLQW
WKHUHVXOWVRIWKHUROOWULJJHUZKDWKDSSHQVQH[W Ɣ ([WUHPHMRXUQH\WLFNVSHUZD\SRLQW
Ɣ (SLFMRXUQH\WLFNSHUZD\SRLQW
/HWıV EHJLQ SOD\ 7KHQIRUHDFKVHJPHQWRI\RXUMRXUQH\UROOKHDG,I\RXDUHVHWWLQJ
ż 5HYLHZ WKH PRYHV OLVW DQG PDNH VXUH \RX RŖ IURP D FRPPXQLW\ ZLWK ZKLFK \RX VKDUH D ERQG DGG WR \RXU
XQGHUVWDQG KRZ \RXıOO UHVROYH \RXU FKDUDFWHUıV LQLWLDOUROO
2QDVWURQJ KLW\RXUHDFKDZD\SRLQW
DFWLRQVDQGLQWHQW
(QYLVLRQWKHZD\SRLQWRUDVNWKH2UDFOHDQGFKRRVHRQH
ż &\FOHWKURXJKSOD\(QYLVLRQWKHREVWDFOHPDNH Ɣ <RXPDNHJRRGXVHRI\RXUUHVRXUFHV0DUNSURJUHVV
D PRYH DQG OHW WKH RXWFRPH DQG ŗFWLRQ FRPH Ɣ <RXPRYHDWVSHHG0DUNSURJUHVVDQGWDNHPRPHQWXPEXW
DOLYH5LQVHDQGUHSHDW VXŖHUVXSSO\
ż $Q\WLPH \RXıUH ODFNLQJ LQVSLUDWLRQ SLFN DQ 2QDZHDN KLW\RXUHDFKDZD\SRLQWDQGPDUNSURJUHVVEXWVXŖHU
2UDFOHDQGGUDZRQLW&UHDWHZKDWHQWLFHVPRVW VXSSO\
2QDPLVV\RXDUHZD\ODLGE\DSHULORXVHYHQW3D\WKH3ULFH
7LSVIRUSOD\
Ɣ 3XW &KDUDFWHU )LUVW <RXFDQDOVRVKXŚHWKHVHSOD\ )LQG\RXU'HVWLQDWLRQ
3URJUHVV0RYH
VWHSVDQGVWDUWLQDGLŖHUHQWRUGHUVXFKDVPDNLQJ
:KHQ\RXUMRXUQH\FRPHVWRDQHQGUROOWKHFKDOOHQJHGLFHDQG
FKDUDFWHUŗUVWEHIRUHEHWWHUGHŗQLQJWKHZRUOG FRPSDUHWR\RXUSURJUHVV0RPHQWXPLVLJQRUHGRQWKLVUROO
Ɣ ([WHQGHG SOD\ PDWHULDOV%HIRUHVWDUWLQJSOD\JRWR 2QDVWURQJ KLWWKHMRXUQH\IDYRUV\RX&KRRVHRQH
LURQVZRUQUSJFRPGRZQORDGVWRŗQGSOD\PDWHULDOV Ɣ 0DNHDQRWKHUPRYHQRZQRWDSURJUHVVPRYHDQGDGG
WKDWDOVRDSSO\WRWKLVJDPH'RZQORDGWKH58/(6 Ɣ 7DNHPRPHQWXP
5()(5(1&(DQG352*5(66 75$&. :25.6+((7WR 2Q D ZHDN KLW \RX DUULYH EXW IDFH DQ XQIRUHVHHQ KD]DUG RU
XWLOL]HWKHPDV\RXZRXOGZKLOHSOD\LQJ,URQVZRUQ FRPSOLFDWLRQ(QYLVLRQZKDW\RXŗQGRU$VNWKH2UDFOH
Ɣ 6RXQGWUDFNV DPELHQFH0\IDYRULWHZD\WRSOD\LV 2Q D PLVV \RXıUH KRSHOHVVO\ DVWUD\ \RXU REMHFWLYH LV ORVW WR \RX RU
ZKLOHOLVWHQLQJWRUHOD[LQJRUK\SHPXVLFWRUHDOO\ \RXZHUHPLVOHGDERXW\RXUGHVWLQDWLRQ
LPPHUVH\RXLQWRWKHZRUOG7U\VHDUFKLQJ\RXWXEH ,I \RXU MRXUQH\ FRQWLQXHV FOHDU DOO EXW RQH ŗOOHG SURJUHVV DQG UDLVH
IRUPL[HVUHJDUGLQJ6WXGLR*KLEOL/HJHQGRI=HOGD WKHMRXUQH\ıVUDQNE\RQHLIQRWDOUHDG\HSLF
ZLWFKHVRQL$NLUD.XURVDZDRU7KH6KLQLQJ
7KH6KLQLQJ
[ [[
)DFH'DQJHU 2UDFOHV
:KHQ \RX DWWHPSW VRPHWKLQJ ULVN\ RU UHDFW WR DQ LPPLQHQW WKUHDW 2UDFOHVDUHH[FHHGLQJO\XVHIXOIRUJHQHUDWLQJLGHDV
HQYLVLRQLWDQGFKRRVH,I\RXDFW
Ɣ :LWKH[SHUWLVHSUHFLVLRQRUREVHUYDWLRQ5ROOKHDG
2QRFFDVLRQ\RXıOOIHHO\RXUVHOILQDPRPHQWZKHUH
Ɣ :LWKFKDUPOR\DOW\RUFRXUDJH5ROOKHDUW
Ɣ :LWKDJJUHVVLRQVSHHGVWUHQJWKRUHQGXUDQFH5ROOVWHHO
ż <RXNQRZVRPHWKLQJQHZVKRXOGKDSSHQKHUH
Ɣ :LWKPDJLFSRZHURUP\VWLFNQRZOHGJH5ROOVRXO ż /LNHDWZLVWRUGUDPDWLFUHYHDORILQIRUPDWLRQ
Ɣ :LWKGHFHSWLRQVWHDOWKRUWULFNHU\5ROOVKDGRZ ż %XWLWıVQRWLPPHGLDWHO\FOHDUZKDWWKDWFRXOGEH
2QDVWURQJ KLW\RXDUHVXFFHVVIXO7DNHPRPHQWXP ż 2U\RXULQVSLUDWLRQQHHGVDQXGJH
2QDZHDN KLW\RXVXFFHHGDWDWHUULEOHFRVW&KRRVHRQH
Ɣ <RXDUHGHOD\HGRUIDFHDQHZGDQJHU6XŖHUPRPHQWXP -XVWEURZVHWKURXJKWKH2UDFOHVWRŗQGRQHDSSOLFDEOHWR
Ɣ <RXDUHWLUHGRUKXUW(QGXUH+DUP \RXU VLWXDWLRQ 2U VRPHWKLQJ WR JLYH \RX WKH SHUIHFW
Ɣ <RXVDFULŗFHUHVRXUFHV6XŖHUVXSSO\ MXPSVWDUW
2QDPLVV\RXIDLORU\RXUSURJUHVVLVXQGHUPLQHGE\DGUDPDWLFDQG
FRVWO\WXUQRIHYHQWV3D\WKH3ULFH
2UDFOH 'HVFULSWLRQV
6SHOOFDVW Ɣ $FWLRQ DYHUERUDFWLRQWRWDNH
:KHQ\RXGUDZIURPP\VWLFHQHUJLHVIRUDVSHOO\RXNQRZFKRRVHWKH
DVVHW DQG UROO VRXO ,I \RX XVH VSHOO WRPHV KHUEV FKDON FLUFOHV RU Ɣ 7KHPHDVXEMHFWRULPDJH
RWKHULQJUHGLHQWVVXŖHUVXSSO\DQGDGG &RPELQH$FWLRQDQG7KHPHWRUROODJRDORULGHD
2QD KLWIROORZWKHDVVHWıVLQVWUXFWLRQ2QDPLVV\RXORVHFRQWURORI Ɣ 0\VWLF %DFNODVK )RU 3D\LQJ 7KH 3ULFH ZKLOH
WKHHOHPHQWVRUDQHZGDQJHUDULVHV3D\WKH3ULFH FDVWLQJVSHOOV
Ɣ 0DMRU 3ORW 7ZLVW)RUVXUSULVHHYHQWV
5HDFK,QWR7KH$E\VV Ɣ %HLQJV )RUPHHWLQJFKDUDFWHUVDQGDOOLHV
:KHQ \RX GUDZ IURP P\VWLF HQHUJLHV IRU D VSHOO \RX GRQıW NQRZ
Ɣ /RFDOHV 8VH DQ\WLPH WR FUHDWH QHZ ORFDWLRQV
HQYLVLRQLWDQGUROOVRXO,I\RXVXŖHUVXSSO\DQGDGG
2QDVWURQJ KLW\RXUVSHOOHŖHFWLVVXFFHVVIXO7KHFRVPRVIDYRUV\RX
9LOODJHVIRUSHULRGVPDOOHU&LW\IRUODWWHUODUJHU
2QDZHDN KLW\RXVXFFHHGDWDWHUULEOHFRVW&KRRVH7KHVSHOO Ɣ /RFDWLRQ 6W\OHV7RDGGGHWDLOVWREXLOGLQJVRUFLWLHV
Ɣ 7DNHVOLNHIRUHYHUWRSUHSDUHWKHVSHOO6XŖHUPRPHQWXP Ɣ /RFDOH 7URXEOH7RDGGORFDWLRQHYHQWV
Ɣ *RHVKD\ZLUHKDUPLQJ\RXDQGRWKHUV(QGXUH+DUP
Ɣ (ŖHFWLVZHDNHQHGRUH[WUHPHO\VKRUWGXUDWLRQ
Ɣ &RPHVZLWKDSUREOHPDWLFVLGHHŖHFW$VNWKH2UDFOH
2QDPLVV\RXUVRXOLVFRUUXSWHGE\GHDOLQJZLWKHQHUJLHVEH\RQG\RXU
XQGHUVWDQGLQJ (QYLVLRQ WKH FRVW WR \RXU ERG\ RU VSLULW RU $VN WKH
2UDFOHDQG3D\WKH3ULFH
2UDFOH
2UDFOHDQG 3D\WKH3ULFH
[[ [
$FNQRZOHGJHPHQWV $GYHQWXUH 0RYHVGDQJHUVOHDUQLQJWUDYHO
,IWKLQJVDUHXQFHUWDLQXVHPRYHVWRŗQGWKHRXWFRPH)ROORZWKH
PRYHVıWULJJHUVij:KHQ\RXĴWRNQRZZKHQWRXVHWKHP
:ULWWHQE\0DUF6WURFNV
:ULWWHQE\0DUF6WURFNVWZLWWHUFRPVSDFHVLEOLQJ
&RQWDFWDWPDUFXVVWURFNV#JPDLOFRP 6HFXUHDQ$GYDQWDJH
:KHQ \RX DVVHVV D VLWXDWLRQ PDNH SUHSDUDWLRQV RU DWWHPSW WR JDLQ
OHYHUDJHHQYLVLRQLWDQGFKRRVH,I\RXDFW
)LQGPRUHRIP\ZRUNVDWPVWURFNVLWFKLR
Ɣ :LWKH[SHUWLVHLQVLJKWRUREVHUYDWLRQ5ROOKHDG
Ɣ :LWKFKDUPOR\DOW\RUFRXUDJH5ROOKHDUW
Ɣ :LWKDJJUHVVLRQVSHHGVWUHQJWKRUHQGXUDQFH5ROOVWHHO
Ɣ :LWKPDJLFSRZHURUP\VWLFNQRZOHGJH5ROOVRXO
,URQVZRUQ Ɣ :LWKGHFHSWLRQVWHDOWKRUWULFNHU\5ROOVKDGRZ
7KLVZRUNLVEDVHGRQ,URQVZRUQFUHDWHGE\6KDZQ
2QDVWURQJ KLWFKRRVHERWK2QDZHDN KLWFKRRVHRQH
7RPNLQDQGOLFHQVHGIRURXUXVHXQGHUWKH
Ɣ 7DNHFRQWURO0DNHDQRWKHUPRYHQRZQRWDSURJUHVVPRYH
&UHDWLYH &RPPRQV $WWULEXWLRQ ,QWHUQDWLRQDO /LFHQVH DQGDGG
FUHDWLYHFRPPRQVRUJOLFHQVHVE\QFVD Ɣ 0DNHSUHSDUDWLRQV7DNHPRPHQWXP
2QDPLVV\RXUZHDNSRLQWVRUDVVXPSWLRQVEHWUD\\RX3D\WKH3ULFH
5HVW8S
$GGLWLRQDO LQVSLUDWLRQV :KHQ\RXUHVWDQGUHFRYHUIRUVHYHUDOKRXUVFKRRVH,I\RXıUH
0RQVWHURIWKH:HHNE\0LNH6DQGV Ɣ 6DIHDQGLQGRRUV5ROOVWHHORUVXSSO\<RXFKRRVH
$SRFDO\SVH:RUOGE\'9LQFHQW%DNHUDQG0HJXH\%DNHU Ɣ ,QVLGHEXWLQDVLWFK5ROOVWHHO
Ɣ 'HHSLQWKHZLOGHUQHVV5ROOVXSSO\
2QDVWURQJ KLW\RXDQGHDFKDOO\PD\FKRRVHWZR
2QDZHDN KLWFKRRVHRQH
Ɣ 5HFXSHUDWH7DNHKHDOWKIRU\RXDQGDQ\FRPSDQLRQV
7KDQNVIRUFKHFNLQJRXW6SLULWERXQG Ɣ 3DUWDNH 6XŖHU VXSSO\ DQG WDNH KHDOWK IRU \RX DQG DQ\
FRPSDQLRQV
Ɣ 5HOD[7DNHQHUYH
Ɣ )RFXV7DNHPRPHQWXPĸ3UHSDUH:KHQ\RXEUHDNFDPS
DGG LI \RX 8QGHUWDNH D -RXUQH\ 2Q D PLVV \RX WDNH QR
FRPIRUW3D\WKH3ULFH
[ [[
/RFDWLRQ 6W\OHV $FWLRQ
+LJK 2FFXSLHG /RZ 6FKHPH )DOWHU $GYDQFH
5HPRWH 5LFK %HDXWLIXO &ODVK 6XSSUHVV &RPPDQG
([SRVHG %LJ $EXQGDQW :HDNHQ +XQW 5HIXVH
6PDOO 6DYDJH /XVK ,QLWLDWH 6KDUH )LQG
%URNHQ 'HIHQGHG )ORRGHG
&UHDWH 'HVWUR\ 'HOLYHU
'LYHUVH :LWKHUHG (PSW\
6ZHDU $YRLG +LGH
5RXJK 0\VWLFDO 6WUDQJH
'DUN ,QDFFHVVLEOH &RUUXSWHG $YHQJH 5HMHFW )RUWLI\
6KDGRZ\ 3URWHFWHG 3HDFHIXO *XDUG 'HPDQG %HWUD\
&RQWHVWHG $EDQGRQHG )RUJRWWHQ 'HIHDW ([SORUH 6HFXUH
*ULP :LGH ([SDQVLYH &RQWURO %ROVWHU $UULYH
:LOG )RXO 6HWWOHG %UHDN 6HL]H $ŖHFW
)HUWLOH 'HDG 'HQVH 5LVN 0RXUQ &KDQJH
%ORFNHG 5XLQHG &LYLOL]HG 6XUUHQGHU 5HYHDO 'HIHQG
$QFLHQW %DUUHQ 'HVRODWH
,QVSHFW *DWKHU 'HEDWH
3HULORXV &ROG ,VRODWHG 5DLG 'HI\ 6XSSRUW
+LGGHQ %OLJKWHG (YDGH 7UDQVIRUP )ROORZ
$VVDXOW 3HUVHYHUH &RQVWUXFW
'HŘHFW 6HUYH /RFDWH
/RFDOH 7URXEOH
7KUHDWHQ %HJLQ (QGXUH
2XWVLGHUVUHMHFWHG 'DQJHURXVWUDGLWLRQ $WWDFN 0RYH 5HOHDVH
'DQJHURXVGLVFRYHU\ ,QOHDJXHZLWKWKHHQHP\
/HDYH &RRUGLQDWH /RVH
'UHDGIXORPHQV 5DLGHUVSUH\RQWKHZHDN
%URNHQWUXFH &XUVHGSDVW 3UHVHUYH 5HVLVW 5HGXFH
%HWUD\HGIURPZLWKLQ $QLQQRFHQWLVDFFXVHG 0DQLSXODWH $ZDLW (VFDODWH
,PSRUWDQWREMHFWLVORVW &RUUXSWHGE\GDUNPDJLF 5HPRYH ,PSUHVV 'LVWUDFW
6RPHRQHLVFDSWXUHG ,VRODWHGE\EUXWDOZHDWKHU (OLPLQDWH 7DNH -RXUQH\
0\VWHULRXVSKHQRPHQRQ 3URYLVLRQVDUHVFDUFH
:LWKGUDZ 2SSRVH (VFRUW
5HYROWDJDLQVWDOHDGHU 5HFNOHVVZDUPRQJHULQJ
:UDWKIXOKDXQW $OOLHVEHFRPHHQHPLHV $EDQGRQ &DSWXUH /HDUQ
5LYDOVHWWOHPHQW $WWDFNLVLPPLQHQW ,QYHVWLJDWH 2YHUZKHOP &RPPXQLFDWH
1DWXUHVWULNHVEDFN /RVWFDUDYDQ +ROG &KDOOHQJH 'HSDUW
6RPHRQHLVPLVVLQJ 'DUNVHFUHWUHYHDOHG )RFXV $FTXLUH 6HDUFK
3URGXFWLRQKDOWV 8UJHQWH[SHGLWLRQ 8QFRYHU 3URWHFW &KDUJH
0\VWHULRXVPXUGHUV $OHDGHUIDOOV
'HEWFRPHVGXH )DPLOLHVLQFRQŘLFW
%UHDFK )LQLVK 6XPPRQ
,QWKHFURVVŗUH $LG 6WUHQJWKHQ
8SKROG 5HVWRUH
7KHPH
/RFDOHV
5LVN +LVWRU\ 3UL]H