Let me close the “Toastmasters blogging week” by informing you about a great Toastmasters event in Madrid next May 7th.
We will celebrate the Division Conference in Madrid (this is happening in Madrid only once about every 4 years). It will be open to all kind of participants. You don’t need to be already a member to take part in it.
There will be some very interesting presentations but most important of all, there will be 3 speaking contests: public speaking contest in Spanish and English and evaluation contest. There it will be decided who are the champions for Spain & Portugal, who will compete in the next level. It will be a big show, where you’ll be able to meet many people, learn a lot and put an end to the day with a wonderful gala dinner. There is a wonderful team working to make it a great event.
Even though I am now based in Toulouse, I’ll go to Madrid that day to take part in that event as the contest chairman, in case you hesitate whether to join the event not knowing anyone (you’ll at least know me!).
I realize that I have often talked about Toastmasters in this blog (last days included), shared the script of some of my speeches, etc… but I have not dedicated a post just to explain what Toastmasters is.
I found a video where Lance Miller explains in just 7 minutes the Toastmasters experience. Lance Miller is one member of Toastmasters who after working hard for years and trying several times won the World Championship of public speaking in 2005. I had the chance of attending a conference in Lisbon in 2009 where he gave a presentation; he is a great and a very motivating speaker. You can see it in the video.
If you want to know more about Toastmasters, no matter where you live in the world, most probably there is Toastmasters club nearby, check it out. If you are one of my acquaintances and happen to live in Madrid, please, note that there are 5 clubs in Madrid. Find them here.
Yesterday I posted the speech I gave at Rosemasters club last Saturday. As I mentioned there, on Saturday we celebrated the contests of the club.
This is a special occasion every year. Actually, there are two such special occasions in the year. In the spring we celebrate the speech contest and the evaluation contest, while in the fall we celebrate the humorous speech contest and the table topics contest (this last one is about improvisation).
Normally, in weekly meetings, members do not compete. The contrary, the atmosphere is relaxed and inviting you to speak in front of a friendly audience. As the mission of the clubs reads “The mission of a Toastmasters club is to provide a mutually supportive and positive learning environment in which every individual member has the opportunity to develop oral communication and leadership skills, which in turn foster self-confidence and personal growth.”
Nevertheless, some of our members (~5% of them) like to take the opportunity to compete, to prove themselves how they can improve and enjoy facing new and bigger audiences with every upper step of the competition. The competition also puts you an extra point of stress that it’s very good to learn how to handle it.
I have taken part in such contests, and even though I haven’t won, I can tell it’s a wonderful and unique experience. You really prepare and polish your speeches, paying attention to every detail. Then, the day of the contest is for you to enjoy it.
I remember when I competed in Lisbon in April 2009. It was a big auditorium, filled with about 100 people. They offered us to use a micro. I turned down the offer. I thought: “when am I going to have the chance to try if I can project my voice to the last corner of the room? And with such a friendly audience”. When the contest finished, I went to check with a woman sitting at the very back of the room whether she could hear me well. She could. That was my victory for that day.
I wanted to share with you in this post a speech I gave last Saturday at Rosemasters club contest. I was not contesting but a speech was needed for the evaluation contest, so I volunteered.
Why do I share this speech in particular? Not because it was especially good (nor especially bad), but because it has some insights that could help some of you in case you hadn’t reflected on them or made the numbers yourself.
I titled the speech “Snowball” but a more suitable title would have been “Snowball, or the beauty of compound interest”. Please, note that the metaphor of the snowball it’s not mine, so no need to praise my originality here. I borrowed it from Alison Schroeder’s biography of Warren Buffett “Snowball”, which I reviewed in other post in this blog (I take the opportunity to recommend the book again).
Below you can watch the video uploaded in Youtube (from the second 0:42 some helping hand lifts the camera, please be patient during those first seconds). Below the video I share the script of the speech so you can actually see the formula and the charts I showed. Reflect on it; it may help you a lot a long way down the road.
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Script:
“How many of you used to play with snow when you were a child?
Do you remember what the process you followed to build snowballs was? You started by making a small ball with your hands, like this. Then, you left it on the ground and let it roll over itself, so it was gaining more snowflakes and thus getting a bit bigger with every roll… for you it was a small effort, and after some time of rolling and rolling over, you easily could end up with big snowball like this.
It shows what is the future value (FV) of an investment’s present value (PV) that gains a fixed interest rate (i) for n periods.
To put it simple, it means that the interest that we earn over the investment in the first year, will enter the calculation in the second year. In a very similar way that small snowflakes are making the snowball bigger.
The importance of compound interest for our future.
Who is the younger member of the audience today? I will ask you one question, let me see if I get the answer I want.
Are you saving and investing with your retirement in mind? Do you have pension plan or fund?
An extremely important factor in this discussion is that time in the formula appears in the exponent. This means the longer the time period, the better. Or put it in another way, the sooner we start investing or saving, the better.
I made two quick calculations to show you. Imagine a 25 year old person who just started working. If he or she is able to save 250 euros per month, that is 3,000 euros per year, and puts it in a conservative fund which earns 3% a year… by the time he is 65 he will have around 230.000€. His yearly contribution would have been 123.000€. So another 110.000€ will have come from the interest. He will practically have doubled his money.
On the other hand, take a 50 year old person who never saved any money beforehand. He will have to save it in only the last 15 years of his working life. To make the comparison, I supposed that he contributed the same 123.000€ in those 15 years, for this he has to save 8.200 per year or 680€ per month… when he is 65 he will have 150.000€, having earned about 30.000€ from the interests, 4 times less!
Effect of a 3% compound interest over 40 years.
If the young person would invest in more volatile asset, for example the stock market, which historically earns about 8% every year, the new figures would be these ones.
840.000 – earning 720.000 from interests
222.000 – earning 100.000 from interests / 7 times less.
Effect of a 8% compound interest over 40 years.
Finally, with this discussion I wanted to explain little bit the compound interest, how it is making your savings grow, and even though at the beginning the growth seems very slow this is because the growth with time is exponential and we human beings are not very patient, thus it is important to start early saving small amounts, as snowflakes… in the end you will have a big snowball.
Start saving and see you at the retirement age.”
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Final comment: as you may have noticed there several passages when what I say differs from the script. I didn’t learn it by heart. During my first speeches in Toastmasters I tried to do so. Now I am departing from that approach. However, I do write the speech to give it a clear structure, to polish some parts, spot words I may have difficulty in pronouncing (so I can replace them for others) and count the amount of words so I am sure it fits in 5 to 7 minutes (often 7’30”… never more or fellow Toastmasters will start clapping).
Today it’s been a year since I started this blog. I wrote the first post on February 9th 2010, and went live a few days later. I had been musing the idea of starting it for some months plus some people close to me encouraged me to do so as well.
In the end I decided to give it a try. Initially, I took it as a learning process: It would force me to learn what that of blogging was, some etiquette about them, etc… Few days after the starting the blog I created my Twitter account and gave it a try with some other tools… still, there are many other tools and applications that I still have to learn and use.
During those days I had the simile in my head of our previous generation: some of them are not even using the internet for as little as 10% of the things we use it for (buying things, social media, reading the papers, watching videos, etc.). It all started because some years ago they did not push themselves to try it, when it was all starting. This was what moved me to start. Who knows how the Internet will evolve from now to 10 years time? But what it is sure is that it won’t go backwards, so we better do as much as we can not to stay behind.
I just finished reading the book “Todo va a cambiar”, by Enrique Dans (in Spanish; I may write about the book soon), in the last chapters you may read the following passage:
“¿Debe […] empezar un blog? La respuesta es clara y concisa: si no lo ha hecho hasta ahora, sí”
Starting the blog is relatively easy; you just need to follow the instructions of any of the free blogging services. Continuing with it is a bit more difficult. You need to be creative, think about more or less valuable ideas that you want to transmit: During this first year I have written 120 posts, about 10 per month or one every 3 days… behind some of them there are hours, of thought, of calculations, of editing. But it has always been fun (as my brother said “you started it because you wanted to preach freely”).
It is fun to think about ideas, that later may or may not be translated into a post, while you are travelling, reading the paper, watching a video, etc. It is fun to see the statistics (over 8,000 visits during this first year), make calculations with them (for an average of 22 visits/day), it is fun to read and reply to comments, and even better to see someone recommending one of your posts.
There are many, yes, many other very good reasons for writing a blog.
Since some months ago I follow in Twitter and read the blog of Connor Neill, a professor at IESE business school. I had the chance to attend a workshop/conference by him at the Toastmasters District 59 Fall conference in Barcelona last November where he spoke about leadership. One of the pieces of advice he gave was to write every day for some time, be it 5 minutes, 500 words…
You may find a very good post in his blog that describes very well that part of his presentation about the importance of writing, where he gives up to 20 “starting questions to use for reflection”.
Should you start a blog? The answer is clear and concise: if you haven’t done it yet, yes.
During the Table Topics session of last week’s Toastmasters Madrid meeting, a friend asked one of the members whether he was the type of person that used to set goals for himself or have New Year’s resolutions.
The member was very determined in his answer: “yes, I am definitely a fan of goal-setting”. He cited a study in Harvard Business School where they found that the 3% of graduates who had written goals, and plans to accomplish them, ten years later were earning ten times as much as the other 97% put together… (it doesn’t say whether within that 3% there was a single individual, the kind of Bill Gates, who made himself just those ten times of the remaining 97%).
Then I saw a Facebook status update by another friend: “85% of my personal goals for this year – achieved.” (Bear in mind that this fellow is an outstanding individual).
Finally, two days ago I found in Twitter a retweet of another post by Sid Savara about how to undertake a personal year-end review.
… Why not?
I decided that this year I’ll start writing down my goals and attaching a detailed plan to achieve them, instead of just thinking on January 1st of a few well-intentioned resolutions such as “learn languages”, “lose some pounds”, etc., and forgetting them by the 3rd of January. (By the way, thanks to Sergio, Javier, Alex & Conor for their inspiration).
If by 2021 I am making ten times as 97% of the readers of this blog combined, don’t tell me I didn’t warn you well in advance!
Reading the a past issue of The Economist I came across the article “Planning for the sequel”, about how Pixar is preparing itself to continue with its creativity levels for the long-term.
The newspaper remarks two aspects of Pixar’s approach: the company puts people before projects and effort in getting people work together. Regarding the second reason, let me paste some of the sentences of the article:
“Employees show unfinished work to one another in daily meetings, so get used to giving and receiving constructive criticism.
[…] This system of constant feedback is designed to bring problems to the surface before they mutate into crises, and to provide creative teams with a source of inspiration.
[…] Pixar demands that each review identify at least five things that did not go well in the film, as well as five that did.”
Having been a member of the public speaking association Toastmasters for two years I have had the chance of seeing hundreds of evaluations. Evaluations of prepared speeches, of impromptu speeches, of meetings, of evaluators, of skilled and beginner speakers… it is not a so easy task to sit and think in a couple of minutes of 5 things that you really liked and some valuable points of improvement. It’s even less easy to speak them up in a structured, candid and, at the same time, encouraging way. And that is another thing that you can learn in Toastmasters: giving feedback through effective evaluations.
Two weeks ago I attended the Toastmasters District 59 Conference, “Springtime at the Beach”, in The Hague. This was the first time I attended such a conference, and I was impressed at the level of the speakers and the organization of the conference itself.
Being an Area Governor, for me the event lasted two days and half, starting on Friday June 4th afternoon with an executive committee meeting, following with the start of the conference, later the evaluation contest and a party with divisions showcase. That wasn’t a slow start.
On Saturday we had some workshops, the elections of new officers and the international speech contest. The way the conference, workshops and elections are held reminded me very much of my time at AEGEE and how there the Agorae were held; even some of the topics covered are similar, the way sometimes the focus is put on the procedure and not on listening at length to what the candidates plan to do if elected, etc…
On Sunday we had more workshops and the training for the new district officers (namely Division and Area Governors).
International Speech Contest. This is the main attraction of the event. We could say that we paid the 135€ fee of it to attend this contest. We had 10 speeches, one representing each division. As I wrote above, the level was very high. I couldn’t see a clear winner; a prove of that is that only one of my 3 favourites came among the 3 first ones. The winner, Na Elom Amouh, told us about his journey from Togo to Munich and how we should never give up in the pursuit of our dreams. A motivational speech. In general, most speeches in these competitions tend to call the audience for noble purposes, inspire good behaviours, etc. I must admit that some of those speeches do get to move you.
Evaluation Contest. Here, the participants had to evaluate a very good speech from former District Gov Christopher Magyar. This is not an easy task, as it is always more difficult to find points of improvement. Even though in this contest the level was very high as well, with very analytical and encouraging evaluations, this time my 3 favourites came in the first 3 positions, the winner being Tara Majumdar.
Miscellanea. There are many small details, side happenings, different situations that contribute to enlarge the baggage the one takes from the conference.
The landscape surrounding the conference letting members to relax.
The music being played in the plenary sessions, especially the banners parade bringing up the spirits of all attendees.
The chance to have meals in the terrace.
The wonderful garden for the gala party and the party at the beach.
The attentive organisers… the continuous availability of stroop waffles, coffees, etc.
The counting of votes behind the scenes… when each one is coming up with a different number!
The entertaining way in which chairs conducted the contests.
The experience of tweeting the event (from @TM_Madrid and @javierirastorza)…
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Learning experience. Overall, the conference is an intense learning experience. You learn how others organise officers’ trainings, set up clubs, give recognition to members, set up workshops, and use different techniques and skills in public speaking… To end this post I wanted to remark two workshops that I attended and especially liked:
Pecha Kucha: this is a presentation technique originally from Japan that consists of preparing a presentation that consists of 20 slides, each one lasting 20 seconds and that will run automatically. You, the presenter, can’t stop it so you need to time yourself to precisely convey your different messages when each slide is being shown. It was very dynamic and I think it’s a nice challenge to try it one day. Check out the calendar of Pecha Kucha nights in different cities around the World.
Youth Leadership Program: this is Toastmasters program for youngsters. A couple of Toastmasters explained how they have carried it in a school with teenagers. From what I saw, it must be a very rewarding experience, a way to give back something to society and at the same time a way to help young students improve their skills. This is also another challenge I might try one day.
Next District conference… in Barcelona; I’ve already booked my place there!
I attended yesterday a conference by Joan Melé at EOI Business School. It caught my interest by its title “Dinero y conciencia: ¿A quién sirve mi dinero?” (Money and conscience, who benefits from my money?), even though I didn’t know the presenter nor the bank he works for.
I want to make some reflections of yesterday’s experience:
The first one as a Toastmasters member: I applaud the decision of the speaker to stand up, not using notes or a power point presentation and managing to get the focus of the audience on him and his message for over an hour and half… we witness many conferences in which the experience is not so enjoyable.
The next reflection is to praise the move by EOI Business School towards web 2.0 made some months ago. As an alumnus of the school I must say that it’s very motivating to see the number of activities organized, the topics covered and it’s very convenient the way they are publicized in the different channels: EOI web and blogs, Facebook, streaming TV channel, Twitter… and because of that, because you can actually watch the whole of the conference or catch a glimpse of the main messages, I will just add very few ideas that I took for reflection and some sources the presenter cited.
Regarding money itself, the speaker structured his speech in the three main uses of money: to buy, to save and to donate.
When buying: he proposed the exercise of thinking “what”, “why” and “where” to see how our purchasing decisions affect others (low wages, pollution, exploitation…). He made the case for an economy based not so much in consumption of material things but cultural and intellectual ones: e.g. we happily pay 30 euro for a dinner, would be pay the same to be read poetry?
Regarding saving he noted the positive side of it: planning for future expenses. The other side of the coin being “fear of the day of tomorrow”: what will happen that we won’t be able to face? Nothing: Whatever comes, we will be able to face it. This reminds me to Charlie Munger comment on Berkshire Hathaway shareholders meeting when he said that he became comfortable […] after he realized he could survive hardship, “Maybe you should get your feet wet with a little more failure”. We lack some entrepreneurship…
The speaker did not want to go in deep about donating, except pointing that handing large inheritances to offspring can be more harmful than positive to them and society.
Some ideas to take away:
There are no leaders to solve our problems; it’s the turn of civil society to take action. It’s the time for the Globalisation of conscience.
The responsibility for what happens around us is ours, we need to first change ourselves.
We are the crisis of 3 billion people since dozens of years ago.
Need to bring back the role of banks as agents that relate people: savers with entrepreneurs in order to create wealth with profits as a by-product not as the one and only end.
Need to start and epidemic of courage and enthusiasm.
Finally, some reports, articles and documentaries he cited:
I have already mentioned Toastmasters quite a few times in the blog. From the Toastmasters International site:
“[…] Toastmasters International has grown to become a world leader in helping people become more competent and comfortable in front of an audience. The nonprofit organization now has nearly 250,000 members in more than 12,500 clubs in106 countries, offering a proven – and enjoyable! – way to practice and hone communication and leadership skills.
Most Toastmasters meetings are comprised of approximately 20 people who meet weekly for an hour or two. Participants practice and learn skills by filling a meeting role, ranging from giving a prepared speech or an impromptu one to serving as timer, evaluator or grammarian.
There is no instructor; instead, each speech and meeting is critiqued by a member in a positive manner, focusing on what was done right and what could be improved.
Good communicators tend to be good leaders.”
There are 15 Toastmasters clubs in Spain in Portugal (3 of them in Madrid!), with over 400 members. Next weekend (April 24th), we will gather in Porto for the Division conference. There, we will have several workshops, lectures and presentations delivered by prominent speakers; among them Ed Tate, World Champion of Public Speaking in 2000, and John Zimmer, four times European Champion of Public Speaking.
Even more interesting will be the contests that will take place there: Evaluation and International Speech contests. From our Area (Madrid and South of Spain) there will be four participants taking part in them: Jane Kinnear, Ruben Navarro, Damian Alcolea and Alexander Hristov.
I am sure they will make a great performance and above all they’ll learn a lot just by participating in the contest. The rest of us attending will enjoy two great contests in a memorable weekend!
The Blog by Javier 