The 80/20 Rule for Fair and Balanced Networking

A great article originally posted here about the rules of networking. We hope you enjoy it!

Power Hack of the Week: The 80/20 Rule for Fair and Balanced Networking

Emma Miller

Posted on Oct 27, 2014

In our “Power Hack of the Week” series, we highlight one quick thing you can do each week to improve your personal, career or money life.

Today, we’re featuring the 80/20 Rule for Reciprocal (read: it’s not all about you!) Networking.

By now you’ve probably heard the cardinal rule of networking a million times: If you want to make a killer impression, you need to know exactly what to say when you meet someone new. And we’ll bet that’s why you’ve spent hours brushing up on answers to common yet surprisingly tough questions like, “Tell me about yourself!”

An equally important networking commandment you may not have considered? Letting your perfectly crafted elevator pitch devolve into a 10-minute monologue is a big turnoff.
“Good networking is all about building good relationships,” business coach Alisoun Mackenzie explains. “Selling at people just turns them away.”
If that news has you scrambling to revamp your networking strategy stat, slow down for a sec—because Mackenzie’s favorite hack, the 80/20 Rule, is here to help.
In a nutshell: At any given networking event, spend 80% of your conversations focusing on whomever you’re talking to—and only 20% on self-promotion.

If you spend five minutes talking to someone, you’ll want to limit talking about yourself to one minute—and cede the floor to your new connection for the rest of the time.

Why It’s Worthy of Being Called a Power Hack More than ever, networking is a vital part of the employment search process—70% of jobs are now found through networking and many are filled by word of mouth.

The only problem?

Nerves, self-interest and the natural human tendency to talk about yourself often get in the way of building those mutually beneficial relationships needed for professional success—unless you’re keeping the 80/20 Rule in mind to combat these sneaky stumbling blocks.

How to Get Hacking Visualize what the 80/20 split might look like at your next networking event. If you spend five minutes talking to someone, you’ll want to limit talking about yourself to one minute—and cede the floor to your new connection for the rest of the time.

Of course, that doesn’t mean you should spend those four minutes in silence. So before the event, research the latest trends in your industry, companies you might want to work for, and the individuals you hope to meet. Armed with this information, you can start to formulate useful, informed questions that will fill up the lion’s share of your conversations.

They could be as simple as, “What is your typical day like?” or “What do you most like about your job?” Although the best ones will be related to your own professional goals, such as, “Are there any professional associations you enjoy and would recommend?”

You can also use this time to offer a helpful suggestion, strategic introduction or possible solution to a tricky work problem your new acquaintance may have just described—so you can both help each other achieve big professional goals.

Sounds like the start of a beautiful friendship to us.

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MSBA meets NYC Picture Recap

Last week, 23 of our CUA MSBA students attended our annual New York City Trip. We had a great time visiting companies such as DDB, Interbrand, the New York Stock Exchange, JP Morgan, Fox Business News and many others. Thanks to all the companies who made our visit possible and to our stellar students. A special thanks to Varanun for making the great video!

 

"An experience I will not forget. I met some incredible leaders in business who inspired me to work hard and strive for excellence. Overall, I feel much closer to the MSBA cohort and that the experience has given me a greater appreciation for how businesses operate and how much passion drives success.” - Sean Russell Wilson

At Times Square

 "The trip to New York was absolutely incredible! We spent days at some of the best companies and got to meet so many new exciting people, but the best part was definitely growing closer to my classmates - it is an experience that I won't forget!" - Patty Fabijanczyk

Made it to the hotel safe and sound!

 "The NYC trip was a true learning and bonding experience. While visiting numerous diverse companies, I learned a lot about the type of work environment that I will thrive best in. It was also fun to spend time and get to know our MSBA class even better!" - Kendall Swenson

On the way to JP Morgan

 "The NY trip was a great experience for our group. Travel is a necessary evil in the business world; fortunately, busy travel days become a lot more bearable when you're surrounded by 25 good friends. We were lucky to be able to share this experience as a class. Use your travel time wisely; smile, say thank you, and compliment the people you meet." - Julie Brownell

Studying hard on the train to NYC

 "It was a great way to bond with our class." - Caitlin Wiggins

Joe Liebman, account planner at DDB, explains the role of research in developing client communications

 "The trip to New York was a great experience for me. I have lived in New York my entire life but never had the chance to visit businesses, learn the inside aspects of the companies or walk around the floor of the New York Stock Exchange! The trip was exciting and educational, which is how the MSBA program has been this semester" - Victoria Capozucca

Professor Shatzen discusses quantitative methods with Joe Liebman

 "It was exciting to see the vast number of opportunities in a wide variety of industries and businesses." - Pat Fricchione

Outside the New York Stock Exchange

 "I think seeing different industries appealing to everyone is class was very beneficial. Also – I think sleep and hunger are for the weak (you guys know what I’m talking about). The trip was an excellent experience. I made great connections and would highly recommend the trip to future MSBA students." - Matthew Miano

At the W hotel after a long day of company visits

 “The trip was spectacular, it really changed my perspective on the variety of jobs there are. It was really helpful getting to meet CUA graduates working in these different companies and getting to know how they got there." - Shea Lilly

On the way to the New York Stock Exchange

This class continues to show promise and we are excited to see what next semester holds.

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MSBA Advisory Board Meeting and Mentor Meet and Greet

The School of Business and Economics Advisory Board gathered in the beautiful May Gallery in  John T. Mullen library recently to kick off the new academic year and meet their MSBA student mentees.  The board, comprised of local business leaders and executives, is instrumental in advising us on the latest trends in hiring and ensuring we are adjusting our curriculum to reflect the needs of employers.  During this session, Dr. Abela reviewed the long term strategy for the School of Business and a discussion ensued about how to increase the visibility of the school and its mission.

 

Ms. Kelly addressing the Advisory Board

The board was extremely impressed and complimentary of the work Corporate Relations Manager Marykate Kelly has done in putting together an organization focused on ensuring all School of Business undergraduate and graduate students are prepared to find that all-important first job. 

 

 After reviewing this year’s MSBA class recruiting results and discussing ideas to extend the reach of the program, the current class joined the meeting to be paired with their Advisory Board mentor and enjoy a reception.  The mentoring program is an important and popular feature of the MSBA program and gives our students another important touch point in the community and in the business world.

I look forward to watching these relationships grow into lifelong networking opportunities.  Thanks to all of our advisory board for their great advice and support.
 
-Stewart McHie
Director-Master of Science in Business Analysis
mchie@cua.edu  

 

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MSBA student to compete in Miss Maryland USA Pageant

Caitlin Treuth, MSBA class of 2015, will be competing in the Miss Maryland USA Pageant this Saturday and Sunday at the Bethesda North Marriott Hotel.

Caitlin Treuth

Good luck this weekend, Caitlin! We know you'll be great.

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MSBA graduate has job as COO

Bernardo Nogales obtained the position of Chief Operation Officer at Agro Noles S.A. after graduating from the CUA MSBA program. Mr. Nogales gives us a deeper look into his position in the interview below.

Tell us a little about your company

"The main focus of the company is grain production, mainly soybeans. We also have operations in sugar cane and beef cattle. These three branches are located in different areas outside the city of Santa Cruz, Bolivia. The organization decided to get into this type of business due to the high demand for these products not only locally but also in foreign markets"

What you do there?

Bernardo Nogales - Agro Noles S.A. COO

"As a COO I have the responsibility of planning, executing and controlling operations within our budget for each branch of the business mentioned above. I work closely with the CFO and the purchasing department in terms of budgeting, cash flows and purchases. My everyday duties are keeping in contact with every area of operation, and quickly come up with solutions if issues arise. Issues having to do with the use of heavy equipment within production often come up. I have meetings with different vendors that provide services and products, in which deals can be closed depending on the subject matter and the situation. I also have weekly meetings with the whole staff to discuss and plan our priorities for the week, and a daily meeting with the general manager"

How did the CUA MSBA program help prepare you for this career?

"The program has helped me in terms of planning and executing. We covered these topics in different classes throughout the program and I now have a better sense of how to approach things and how I can apply planning and executing in my everyday tasks.  Leadership is another strong asset I learned in the program and it is something that has helped me tremendously as professional and in my career."

What really stands from the program that you think helped you get a job?

"Something that really stuck out to me was the constant mentoring that one receives in this program. No matter what your field might be, there is always a faculty member or a guest speaker that can guide you. Through this mentoring I learned how I could reach my goals, and be more curious and focused. One of my favorite moments, which I am sure I share with my peers, was the trip to NYC and the opportunity to visit so many important companies. The highlight was having the chance to be inside the New York Stock Exchange."

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CUA MSBA Class Visits the U.S. Chamber of Commerce

The Future of Data Driven Innovation
The future of the global economy and Corporate America as we know it lies within the numbers and spreadsheets of "big data." Really a misnomer, "big data" is in its essence not all that big. Hidden within the 1s and 0s of computer code, the information about users, industries, and collected responses drive the businesses of today. Many questions are being raised regarding the ethical practices behind the data collected. How should it be used? How should it be protected by businesses? What role will it play in the innovations of the future?

The Chamber of Commerce's "Future of Data Driven Innovation" event, featured panelists who are all experts within their fields. They gave professional insights on the future of the economy, technology, and legislative policy and how data impacted each of these areas. From smarter cars to more efficient farmers, the speakers shared that collected data can help industries become more technical, efficient and safe. We learned that economies will be able to more effectively forecast stocks and potential earnings using gathered data from consumers, businesses and governments. Furthermore, the goal for cyber securities is the protection of banks and markets that will bolster the trust of investors and foreign traders. It is likely that legislation will govern how data is handled, de-identified, and then used to gear advertising and marketing back to the consumer. Ultimately, the usage of data will help drive corporate growth, continuing the cycle of data driven innovation for generations to come.

Follow this link to read the official report released by the U.S. Chamber of Commerce.



Original post by Sean R. Wilson

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CUA MSBA graduate is one of the youngest head coaches in the NCAA

We had the pleasure of interviewing Ryan Hyland, MSBA class of 2014 earlier last week. Ryan is the Head Men's Basketball Coach at John Jay College in New York City and is one of the youngest head coaches in the NCAA. From 2007-2011, Hyland served as a manager, player, and student assistant coach at Catholic University of America before becoming a full-time graduate assistant coach and guards position coach for the CUA Cardinals in 2012. Hyland earned his Bachelors of Arts and Sciences in Psychology in 2011 and his Masters of Science in Business Analysis in 2014, both from Catholic University.

Mr. Hyland's impressive resume includes coaching and directing at eleven elite summer basketball camps over the last five years, and he has worked alongside the likes of Florida Head Coach Billy Donovan, Michigan Head Coach John Beilein, former St. John's Head Coach and current Kansas Assistant Coach Norm Roberts, and Memphis Tigers Head Coach Josh Pastner.

Of his current position, Hyland states, "I am humbled and honored by this opportunity to join the John Jay family. I want to thank Athletic Director Carol Kashow for this chance to return to NYC to a great institution with an amazing vision to succeed. I am committed to supporting our student-athletes and building a program that strives for excellence on and off the court."

Q: Can you explain what sorts of duties you have in your position and what goes on day-to-day?

A: I run and operate the Men’s Basketball Program. My hands are on everything from recruitment of new student athletes to managing a budget, to dealing with day to day operations like running practices and coaching the games, and helping students manage their academics. My job encompasses lot of different areas but my main goal is to help our players reach their goals both on and off the court.

Q: How did the CUA MSBA program help prepare you for this career?

A: In every way possible. The MSBA program helped me get into the right mindset for entering life after school. Each of the classes contributed greatly in preparing me for my career. The Entrepreneurship classes provided me invaluable tools I use every day while running my own program– I use many of the things I learned in Professor McHie’s Marketing class to fundraise for our team. Our Management and Leadership classes with Professor Brach taught me how to manage and lead a team in both the business and athletic sense.

Q: What from the program stands out specifically that you think helped prepare you for a career in this field?

A: The field I was looking to enter was very specific. I think the mentoring and career prep with Ms. Kelly was invaluable – she helped me get organized and do mock interviews and helped prep me for the job search. Same for Professor McHie who from day one was very accommodating and made sure he could help even in a field that no one in the program knew too much about.

Q: Can you recall a favorite memory from the program?

A: I think one of the highlights were the speakers and the guest lecturers we had both in class and on Thirsty Thursdays, particularly Brad Peacock, Andreas Widmer and Congressman Fortenberry. Also, interacting on a day to day basis with all of the teachers and faculty in the program and absorbing all of the knowledge they’ve amassed during their time as leaders in their specific fields.

We are proud of you, Ryan, and are glad the CUA MSBA program helped set your career in motion. We wish you all the best in your future endeavors!

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