Quora Answer: How is Speaking before Thousands of People Different from Speaking before Tens?

The following is my answer to a Quora question: “As a public speaker, how has speaking in front of 1,000s of people felt differently from speaking in front of 10s?” 

I have spoken to thousands on exactly four occasions, before I joined Toastmasters.  I have had an audience in the hundreds many times. The average audience for a programme I conduct has between forty to sixty participants. 

The number of audience dictates how craft the speech, and the outcome we seek.  When we speak to a large audience, that speech must be generic to encompass as much of the audience as possible.  This requires larger movements, wider themes, and a heavy emphasis on emotional connection.  The larger the audience, the lower the intellectual connection.  People in such large numbers are moved by emotions more than logic.  This is especially so when they are gathered in one place.  There is a certain energy, and depending on how we engage the audience, they either want to believe, or they want to confront.  That is energy that must be directed. 

When you speak to a more intimate audience, there is more engagement.  The material becomes more personal, and there is room to tailor the message to address specific contentions and personal needs.  Here, the strength of the argument matters more than the emotion of the words.  In general, the lower the number, the higher up the food chain people are.  They tend to be more discerning, and the outcomes are more immediate, and more influential.  Leaders do not tend to gather in large groups.  Large groups, in their thousands, are for supporters of leaders.

Quora Answer: What Happens When a Startup Takes Venture Capital Funding?

The following is my answer to a Quora question: “What happens when a startup takes venture capital funding?” 

Once you have received venture capital funding, it is an endorsement of your startup.  It makes you more attractive when it comes to further rounds of funding.  But that money comes with strings attached.  Those strings can become iron chains that strangle you.  That is why it is important to look through the term sheet and contract carefully, and plan for the fund deployment before you even take it. 

Large funds sitting in the bank account is an opportunity cost, and not savings,  Funds must circulate for there to be benefit.  You need to plan that fund deployment, and this caters to two areas.  The first is the further development of the product or service to that you are closer to a return on investment.  The second is to plan for further rounds of funding to reach the next developmental milestone, as well as to cater to exits for initial investors to newer investors. 

Depending on the nature of the team, taking in venture capital funding may also come with a seat on the board, or the appointment of a business advisor or mentor.  This is the funder minimising their risk exposure due to board inexperience.  This adds the complication of managing expectations with a party who does not represent the interests of the board, but the investor.  This means managing compliance and legal obligations.  Corporate governance, at this stage, is formalised. 

Once you take in any form of funding, the stakes are raised, and pressure increases.  Investors expect a return on investment, and you are now in a marathon towards some form of exit with a lot of passengers on your back.

Quora Answer: Do You Need to be Well-Educated to become a Good Public Speaker?

The following is my answer to a Quora question: “As far as public speaking is concerned, one needs to be well educated in order to become a good speaker, do you agree?” 

Education may be an advantage, but education is not commensurate with knowledge or experience.  A good public speaker has something to say.  You do not need formal education, let alone a good one, to have an opinion.  Education only tells us you are good at passing examinations, not what you actually understand. 

To be a good public speaker begins with having an opinion.  That opinion is shaped into a cogent, coherent argument for or against a position.  That is when it becomes a speech.  When that speech is able to reach out and influence people, then it becomes a good speech.  That requires practice, thought, and vision.  From there, we apply the rules of rhetoric.  Education is a small part of that equation.

Quora Answer: If I Want to Become a Public Speaker, Where Do I Start?

The following is my answer to a Quora question: “If one is looking to become a public speaker, what avenues do you suggest to get the ball rolling?” 

The logical step is to join a Toastmasters club, and start from there.  The Toastmasters programme, done correctly, is an effective way to master the art of rhetoric.  The multitude of clubs allow you an opportunity to practice before a variety of audiences.  There are speech contests to test yourself.  Clubs and Districts runs training programmes where experienced Toastmasters pass on their knowledge, often at minimal cost or free.  Many of these programmes cost thousands outside Toastmasters. 

Once you have all that, Toastmasters is also the place to network.  There are a lot of professional speakers, coaches and trainers, as well as executives, organisational leaders, and even government officials who are Toastmasters.  If you prove yourself in the Toastmasters circuit, you will be invited to conduct programmes and workshops within and without Toastmasters, and gain access to speaking engagements.

Quora Answer: Where Can I Find Help to Set Up My Portfolio for Free?

The following is my answer to a Quora question: “Where can I find somebody that can help me set up my portfolio and help me with some trades?  I do not want a full-time financial advisor or planner.” 

There are probably forums and committees of people who think they know how to do this, with lots of tips and advice.  None of them will be very good.  What you are asking for is professional work.  You are not likely to get that for free.  Setting up a balanced portfolio that meets your investment goals, is aligned with your risk profile, and congruent with your investment horizon, is not as easy for someone who is not trained in it.  That is just the beginning.  We have not even addressed managing the portfolio.  If you are serious about getting it done right, then pay someone.  There is no free lunch.

Quora Answer: How Do I Tell Whether a Financial Advisor is Optimising His Commissions or My Benefit?

The following is my answer to a Quora question: “How do I tell whether a financial advisor is optimising his commissions or my benefit?” 

You are assuming that one precludes the other.  Nobody works for free.  Financial consultancy is a business, not a charity.  Regardless of whether it is an insurer, bank or fund house, financial consultants are in the business of making money for themselves.  No one is going to sell you a service for your benefit, with no gain to themselves.  Anyone who believes such a claim is naïve. 

What is important for you is whether the financial advice adequate?  Do the recommendations address your financial needs?  Is the service timely and professional?  If so, then why do you care  whether he is optimising his commission?  No competent financial consultant will recommend a product that is inadequate, or contrary to the client needs.  They are not going to throw away their professional license for a petty sum.  Good financial consultants are not cheap.  If you do not make money, they do not make money.  They are not going to throw away their performance bonus by recommending a financial product that is obviously contrary to the client interest.

Quora Answer: What are Some of the Negative Aspects of Being a Financial Planner in Singapore?

The following is my answer to a Quora question: “What are some of the negative aspects of being a financial planner in Singapore?” 

Generally, despite Singapore being a major financial centre, the retail market is not particularly sophisticated.  This means that most Singaporeans are massively underinvested, and under-insured.  As such, much of financial planning actually involves education first, before we get to actual financial planning.  There is a certain recognition of this among people, but because of that lack of education in finance, too many people get caught in ridiculous scams and silly investments, when you would expect them to know better. 

Another point of consideration is that the way some agencies are run has not caught up with the market.  We have too many old-school financial services directors who still run their agencies as if it was still thirty years ago.  Modern financial consultancy is no longer about having a team of people pushing products and chasing sales targets.  This is not a team game, requiring a certain level of specialisation, with a focus on actual consultancy.  This means there is sometimes a disconnect between market needs and financial consultant knowledge.  Because of this, industry turnover is very high, and that means a loss of time invested in training new people. 

Finally, many Singaporeans lack the sort of resilience and initiative to grow their network and progress in the industry.  This makes it difficult to fill that service gap.  Financial consultancy is still part of the service industry, which time is dictated by client availability, which means working outside office hours.  This is not an industry for people who only want to work office hours.  However, those who are established in the industry work lesser hours because they have that client base to sustain them.