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Goldman Sachs fined £20m by FSA
Wall Street banking giant Goldman Sachs is fined £20m by the UK's financial watchdog, the BBC learns.


Rig firms hit back at BP report
Contractors who worked for BP on the ill-fated Deepwater Horizon oil rig criticise the company's report into the Gulf of Mexico oil spill.


Shoppers turning to card payments
The number of cash machines in the UK has fallen and withdrawals have dropped as shoppers turn to cards, figures show.


Empty shops highlighting 'divide'
The number of shops closing in Britain is slowing but a north-south divide has emerged, a survey by retail analysts the Local Data Company suggests.


US economic growth 'decelerating'
US economic growth showed "widespread signs of deceleration" in August, says the Federal Reserve's Beige Book.



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Nearly 5 Jobless Workers Per Opening in July
That's a better ratio than what the economy showed earlier this year, but it still shows persistent softness in the United States labor market.

The Thoughtful Roar of the Housing Bears
Bloggers expand on the case for gloom in the real-estate market.

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New York State Still Has Highest Unionization Rate
A new report looks at the organized labor in the Empire State and around the country, and how its size and composition have changed over the years.


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Getting Connected: Building Bridges for Results
By Rebecca Shambaugh,
Author of Leadership Secrets of Hillary Clinton

I believe that there are two key things that separate successful leaders from those who fail: their ability to create strategic networks and their success in forging partnerships and alliances. Resilient leaders recognize that they cannot succeed alone. The world is too complicated and interconnected today. As a result, leaders are creating more dynamic partnerships, alliances and networks to generate more innovative ideas to solve more complex problems. 
 
Strategic networking is a good way to build relationships with others in order to improve the quality of your work and get it done more efficiently. Being connected takes this concept one step further than just building a series of individual relationships. Being connected means intentionally forming relationships with certain individuals or groups in order to initiate a positive action or produce an outcome that will benefit you, while it also benefits the organization, another person, or in the best case, the greater good. Resilient leaders understand and leverage their connections to more effectively and efficiently achieve their goals. They do this by tapping into people who have a high degree of credibility, knowledge and respect on certain issues.
 
The broader the network of people around you, the greater depth of knowledge and breadth of support you will have when you face difficulties. Think about who you currently have in your network? Do you have people you can reach out to that are both inside and outside your organization? Do they have a different perspective that they will share with you or can they help impact decisions that are critical to your success? By establishing relationships with people who are from a "new" community, you can expand your existing network dramatically because that one person can connect you to others in their network.  And, in business, "six degrees of separation" really does work! It often provides you with just what you need to bounce back when you are facing adversity.
 
Don't Be Afraid to Ask For Help

When I interviewed a number of executives to determine what they thought made them successful, they all had one thing in common. They had a broad and diverse network and they never hesitated to reach out and ask others for help. They knew who to call to benchmark ideas, stretch their thinking or provide advice and support. One of my favorite examples of asking for help is when Anne Mulcahy was asked to move into the CEO role at Xerox. She was inheriting an organization that had lost market share and sales were at a dangerously low point. One of the first things she did was to meet with her top one hundred managers to gain their insights. Then, she picked up the phone and called Warren Buffett, who she didn't know personally, and asked for his advice as well.  Based on the collective input, she was able to put together a business development strategy that was timely and eventually turned Xerox back into a successful organization.
 
The lesson learned from Anne is that you can't figure everything out for yourself and do it all by yourself. You not only need contacts to call on but you also need to have the courage to ask for help. I hear from many folks that I coach that the reason they fail to reach out to others is that they think the other person is too busy or will think they are not confident about what they are doing. But does this really happen? Think of a time when someone asked you for help or advice. How did you feel and how did you respond? Most people feel flattered and will help as much as they can if your request is clear and intentional.
 
Create your own personal "Board of Directors"

I also recommend that from this network, you form your own Board of Directors.  Select people you admire and trust and ask them if they would be willing to mentor or coach you when you need some advice. These folks can serve as a helpful sounding board, provide insightful ideas on how to tackle difficult challenges or even test your assumptions from time to time. When you ask them in advance to do this for you, it's easier to pick up the phone and call them when you do actually want their help.
 
When you solicit their advice, be sure you are clear about what you want from them. Are you asking them to help you analyze a situation in order to determine your appropriate actions or are you asking for their opinion in order to make a decision? People find it easier to focus on what you are saying if they know the context of the situation and understand the purpose of the conversation.
 
Learn From Others

Another way to leverage your connections is by always being a curious person and have many mentors along the way. Some have been sources of information, others I have simply observed in action and many have given me feedback that has been invaluable. The one thing they all had in common is that each had something to teach me. In today's environment, it's hard to succeed and be optimally effective at what you do by working alone. One of the greatest ways to expand your thinking and be of greater value to others is to constantly engage with people you can learn from. Whether it's our customers, colleagues, employees or community leaders, engaging with them with the intention of learning from them helps us to better understand what's going on and how to have the greatest impact as a leader.

Over six years ago, I started a group called the Executive Summit. They represent a diverse group of women CEO's and senior executives who meet every other month and openly share difficult business situations in order to receive advice from peers who might have a helpful perspective. While I officially facilitate the group, I also reap the benefit of their experience and expertise and I find these sessions invaluable. We have been a strong support system for each other, based on the long term relationships, trust and respect we have created over the years.  For me, they bring a unique and helpful perspective that has been a wonderful resource both professionally and personally. You can learn something from everyone -- if you engage with that intention.

If you keep these things in mind, you will thrive with your new found connectedness. And you will be amazed at how the time and energy you put into this effort helps you become and remain more resilient.

© 2010 Rebecca Shambaugh, author of Leadership Secrets of Hillary Clinton

Author Bio
Rebecca Shambaugh
is the founder and CEO of SHAMBAUGH Leadership and author of It's Not a Glass Ceiling, It's a Sticky Floor. She lives in Washington, D.C.

For more information, please visit www.mhprofessional.com.