Your Competitive Edge: Are You Informed?

*Dare To Know More*
**By Michael Hammond**

***All the talk these days seems to center around UAD. However, when you talk about UAD you need to talk about UMDP and MISMO and XML data standardization, etc. What’s my point? There are a lot of acronyms and terms in our industry that you have to keep up with. It can be tiring, quite frankly. So, when I stumbled upon an article that detailed must-know words, I knew that I had to share it with you. In the article entitled “10 New Words Every Business Owner Should Know” by Jason Fell, he selects what he considers the 10 need-to-know new words for every business owner. Whether or not you start using them in your own business dialogues is, well, up to you, but here they are:

****1. Light-bulb moment

****Definition: (noun) A moment of sudden realization, enlightenment, or inspiration.

****Example: “Sales at my company were plummeting, but then had a light-bulb moment and knew exactly how to turn things around.”

****2. Cross-functional

****Definition: (adjective) Denoting or relating to a system whereby people from different areas of an organization work together as a team.

****Example: “If we’re ever going to boost productivity, everyone will need to improve their cross-functional capabilities.”

****3. Retweet

****Definition: (verb) On the social networking service Twitter, to repost or forward a message posted by another user. (noun) A reposted or forwarded message on Twitter.

****Example: “My company is blowing up on Twitter. My posts are retweeted constantly.”

****4. Geolocation

****Definition: (noun) The process or technique of identifying the location of a person or device by means of digital information processed via the Internet.

****Example: “Business is up at my restaurant since I started this geolocation-based mobile marketing campaign.”

****5. Contractionary

****Definition: (adjective) Causing or relating to the contraction of a country’s economy.

****Example: “This darn contractionary economy has really stifled my business growth this year.”

****6. Cyberbullying

****Definition: (noun) The use of electronic communication to bully a person, typically by sending messages of an intimidating or threatening nature.

****Example: “This person won’t stop harassing my business over Twitter. He’s practically a cyberbully.”

****7. Textspeak

****Definition: (noun) Language regarded as characteristic of text messages, consisting of abbreviations, initials, emoticons, etc.

****Example: “If you even think about using textspeak in our marketing copy, I will not R-O-T-F-L. For the uninitiated, ROTFL stands for rolling on the floor laughing.”

****8. Webisode

****Definition: (noun) A short film, advertisement, or episode of a television series, made for online viewing. A blend of Web and Episode.

****Example: “For our next webisode on YouTube, let’s think of a way to incorporate customer testimonials.”

****9. Denialist

****Definition: (noun) A person who refuses to admit the truth of a concept or proposition that is supported by the majority of scientific or historical evidence.

****Example: “I’m the boss. I’m always right and you know it. Stop being a denialist.”

****10. Bajillion

****Definitiion: (noun) An extremely large number.

****Example: “I’m an entrepreneur so, obviously, I have a bajillion things to do.”

****I hope you enjoyed reading about these new words as much as I did. My broader point in presenting you with these “new” words is to emphasize that things are always changing and we all have to keep up with the times. Sometimes just keeping up can be a full-time job, but we all have to do it.

Michael Hammond

Michael Hammond is chief strategy officer at PROGRESS in Lending Association and is the founder and president of NexLevel Advisors. They provide solutions in business development, strategic selling, marketing, public relations and social media. He has close to two decades of leadership, management, marketing, sales and technical product experience. Michael held prior executive positions such as CEO, CMO, VP of Business Strategy, Director of Sales and Marketing and Director of Marketing for a number of leading companies. He is also only one of about 60 individuals to earn the Certified Mortgage Technologist (CMT) designation. Michael can be contacted via e-mail at mhammond@nexleveladvisors.com.