Understanding the steps to a successful ask is helpful in making decisions. The understanding of the steps is a book written by Laura Fredricks called The Ask, published by Jossey-Bass, San Francisco, 2010.

Step 6  Asking for yourself is not asking for a favour – it is asking for what you believe you deserve. Asking for a job, asking for a raise, asking to be on a project, asking for a business venture all have the same principles – you need to do your homework of the organization, its people and culture; predetermine the types of questions you will be asked to turn negatives into a positives; listen to the other person and to ensure you ask for what you want including discussing follow up.

Step 7 The anticipated responses you may receive should not prevent you from asking if you feel the time is right, provide the Ask is done with sensitivity and understanding. The person may say no, but they may also say yes. It is important to expect a yes, because you have done your homework; anticipated many of the responses to no and have turned them into positives; you have listened, paid attention to both your body language and their body language, you are in a position to hear yes.

Step 8  The Ask is 25% of your time, the follow-up is 75%.  You have done the ask and next step is the follow up. Many people consult with others before a final decision is made – set up a time and date to follow up. Send a note thanking the person, call them, send information requested, have different people in the organization contact them, keep them updated on anything new with the organization and stay positive. Follow up is ensuring you over communicate rather than under communicate.

Step 9  No now does not mean no later. Everyone has a reason to say no, with the homework you have done and continue to do, for the person does have an interest, taking the time to cultivate the relationship may mean a no can become a yes.

Step 10  A yes now will lead to yes later if you execute a solid stewardship plan for each person.  Once someone has said yes, you ensure you over communicate with them, to continue to bring them into the organization (perhaps at the advisory or Board level) and bring in future dollars.

Linking to dividend paying stocks, much of the process of asking for money or anything else involves communication. When the dividend results are announced, communication is important, to determine whether to hold or move to other alternatives. Communication is important in asking for money as well as giving continued support. As holders of dividend stocks as long as the dividend is being paid and the dividend is sustainable, it is easy to continue to reinvest in the company and make good returns.

There are more questions than answers, till the next time – to raising questions