Index-card approach to writing

The index-card approach to writing had me sprawled out on the floor while writing my Ph.D. thesis. I was arranging the index cards with my notes so I could turn them into sentences, paragraphs, and chapters that made sense.

You’re probably not writing a dissertation. You’re probably not even taking notes on index cards. But the index-card approach to writing can help you organize your thoughts.

If you’re organizing your thoughts before you write

To help you write your first draft, jot your main ideas down on index cards. Then rearrange the cards until you hit an order that makes sense. This is essentially what I did with my Ph.D. dissertation, although I already had all of my notes scribbled onto cards.

Prefer an electronic approach to organizing your thoughts? Record your thoughts using mind mapping software. Then you can rearrange by clicking and dragging.

If you’re rewriting a draft

If you’re rewriting a draft, you can print it and then cut it into strips of paper. You can shuffle the paper strips until you find the right order.

Sure, you could cut and paste within a word-processing document. However, as soon as you open that software, you’ll be tempted to tinker with your wording. That’s less of a problem when you’re moving around pieces of paper. It’s best to solve your organizational problem first, as I’ve said in “5 steps for rewriting your investment commentary.” Otherwise, you could spend a lot of time wordsmithing a section that gets thrown out because it doesn’t fit your article’s ultimate structure.

The bottom line of the index-card approach to writing

There’s something about a visual approach to writing that helps many of us conquer organizational challenges. If you’ve read my book or taken any of my classes, you know I’m a big fan of mind mapping, another visual technique.

Try the index-card approach to writing, and let me know what you think!

 

Financial Blogging class

 

Infographic: 5 Ways to Add Personality to Your Financial Writing

Want your financial writing to stand out? Use the tips in my infographic, “5 Ways to Add Personality to Your Financial Writing.” For more details on adding personality and warmth to your writing, read parts one and two of my two-part blog post.

For real-life practice in adding personality to your financial writing, sign up for my next financial blogging class or hire me to coach you.

Infographic 5 ways to add personality to your financial writiing

15 minutes to busting your writer’s block

Do you ever struggle to start your writing projects? I do. Although I’m a demon about completing my projects on time, sometimes writer’s block slows me. When that happens, a tool that I bought at a dollar store in Montreal often comes to my rescue. It’s a kitchen timer.

Set a timer to bust your writer’s block

Even if I don’t feel like writing, I can squeeze out some words with the aid of my timer set for 15 minutes. I bet you can, too.

Here’s what you do:

  1. Set your timer for 15 minutes.
  2. Write for 15 minutes.
  3. If you feel like it, keep going after 15 minutes. If not, put your writing implements away.

In my case, I’m typing this blog post into WordPress as my timer ticks away.

However, you could spend 15 minutes freewriting, which means writing whatever comes into your head without editing or even correcting typos. That’s one extreme.

The other extreme is spending 15 minutes on a structured project for which you know exactly where you’re heading. For example, you might be writing a white paper based on a mind map that you’ve made of your notes.

Since you can write anything, this 15-minute technique can get you going on a writing project where you are stuck because you have no idea of what to write next—or even what to write about. It can also spur you to work on something that you’ve been dreading, even though your next steps are clear.

The beauty of busting your writer’s block with a 15-minute burst

Most people can stand to do just about anything for 15 minutes. Yet 15 minutes is long enough for you to build up momentum at your task. You may also discover the task is not as awful as you thought. Or you may find inspiration during that 15 minutes. You may end up writing for longer than 15 minutes. I completed a draft of this post during a session that I began with my 15-minute timer.

Fifteen minutes may become the start of an extended writing session. If not, at least you’ve made a dent in your writing goal. You can circle back again later.

What others say about working in timed increments

I learned about working in 15-minute increments from the FlyLady website, which recommends it for decluttering your home. The Pomodoro technique is a timer-based time management technique that uses 25-minute blocks followed by short breaks.

Doing research, I discovered that “Trollope achieved his incredible productivity by writing in 15-minute intervals for three hours per day,” according to “Be More Productive: The 15-Minute Routine Anthony Trollope Used to Write 40+ Books.” That post tells us that Trollope churned out 250 words per 15-minute session. Wow!

Timer choices?

You don’t have to use an inelegant kitchen timer like me.

You may prefer a countdown timer on your smartphone or computer. I’ve used the Online Stopwatch website on my PC.

One of my writer friends says she uses a Time Timer, which more visually displays the passage of time and “well known in the ADHD world.

Looking for more help with writer’s block?

Here are more tips for busting your writer’s block:

By the way, I also use a one-hour timer to help me focus for longer periods of time. I was inspired to write this blog post when one of my timers went missing. That made me realize how much I rely on them.

Financial writing lesson from my sneakers

Don’t try to cram your right foot into your left sneaker. It doesn’t work. However, on the plus side, my absentminded action made me flash on a lesson for financial writers.

The financial writing lesson? Don’t try to force things where they don’t belong. Sure, I could have painfully squeezed my right foot into my beat-up left sneaker. But, I shouldn’t do it. Similarly, a financial writer shouldn’t put content into the wrong format.

Imagine that you have some breezy comments about what’s going on in the stock market today. Should you give them a formal design treatment in a PDF document that will take a week to produce because of the difficulty of getting into your designer’s schedule? No, put the comments on your blog after making sure that they fall within your firm’s compliance guidelines.

On the flip side, a meaty 3,000-word research-driven piece may get plenty of social media shares, but it may not actually get read on your blog, as I discussed in “What’s too long for a blog post?” Also, when you publish online you can’t control how your piece will look when people read it. Attention spans drop off quickly on mobile devices. You may get the best of both worlds if your blog publishes teaser copy for your piece or breaks it up into multiple posts. You can still distribute a nicely formatted PDF for readers who prefer them.

Note: I made a minor edit on 12/30/19.

3 fixes for lousy quotes in your financial writing

Quotes are a great way to add oomph to your writing. This is true whether it’s a short piece, such as a blog post, or a long white paper for your investment or wealth management firm. But what if you’re quoting lousy writers or interviewees who haven’t expressed themselves well?

Quote fix 1. Rewrite the quotes

Rewriting can be controversial.

lousy quotesSure, no one will protest if you add or delete a comma in a sentence. No one will even notice the difference between the mispunctuated “He said ‘Thank you’ ” and the correct “He said, ‘Thank you.’ ” You can even change “average annualized returns” to “annualized returns,” removing the redundant “average.” I think most people are fine with small tweaks that don’t change the meaning of the person who wrote or spoke the words.

However, purists would say that you should reproduce written materials word for word or note changes, for example, by inserting ellipsis (…) to show where you’ve deleted even one word. “Quotations must be identical to the original, using a narrow segment of the source. They must match the source document word for word and must be attributed to the original author,” says the Purdue Online Writing Lab.

People also agree that you can’t make radical changes and still call something a quote. Here’s a before-and-after example where no one would call the “after” a quote. This example originally appeared in “Seven Ways to Talk Your Financial Execs Out of Jargon and Bad Writing, ” my guest post on MarketingProfs (registration required):

BEFORE:

Proposals from the German/French axis in the last few days have heartened risk markets under the assumption that fiscal union anchored by a smaller number of less debt-laden core countries will finally allow the ECB to cap yields in Italy and Spain and encourage private investors to once again reengage Euroland bond markets. To do so, the ECB would have to affirm its intent via language or stepped up daily purchases of peripheral debt on the order of five billion Euros or more. The next few days or weeks will shed more light on the possibility, but bondholders have imposed a “no trust zone” on policymaker flyovers recently. Any plan that involves an “all-in” commitment from the ECB will require a strong hand indeed.

AFTER:

Prices of riskier investments rose in response to recent proposals by German and French leaders, but we are skeptical that this will continue. Investors seem to believe that the proposals will strengthen the euro zone by capping bond yields. This would make euro-zone bonds more attractive to private investors. However, success would require the European Central Bank (ECB) to use strong language or to boost its daily purchases of the troubled countries’ debt by at least €5 billion. To convince distrustful investors will require strong action. That may be more than the ECB can achieve.

Things get murky in the middle ground between tiny tweaks and massive rewrites. Many of my writer friends say that it’s fine to smooth out quotes when your interviewees express themselves poorly in a live interview. However, reporters have gotten into trouble for taking this too far. Have you noticed how some question-and answer stories now come with disclaimers? For example, the “Talk” column in the magazine section of The New York Times says, “Interview has been condensed and edited.”

Edits are particularly risky when the editors don’t know the topic well. They may unwittingly change the speaker’s meaning.

Edits are less risky when they will be checked for accuracy by the speaker or author. This tends to happen more when a company interviews or uses source materials from an employee.

Quote fix 2. Paraphrase the quotes

Paraphrasing is an underutilized tool, in my opinion. Paraphrasing means taking the words of the speaker or author and summarizing or rewording them without quotation marks, but still attributing them to the source. This is a great way to streamline sentences so they focus on the expert’s main message.

I’ve seen too many writers string together quotes to form an article. These articles are held hostage by their experts’ wording. As a result, they often lack the connective tissue that makes an article flow well.

“If you can say it better as a paraphrase, the quotes are probably not that strong,” as The Associated Press Guide to News Writing notes.

Quote fix 3. Delete the quotes

Some information doesn’t deserve quotation marks and a source. Do you need a sentence along the lines of ” ‘There are 50 states in the United States of America,’ says Jane Doe”?

You can share common knowledge without attributing it to anyone.

What’s YOUR take on fixing quotes?

I’m always interested in what you think about the writing questions that I pose on this blog. Please chime in.

Image courtesy of kibsri/FreeDigitalPhotos.net

 

Note: This post was updated in December 2022.

Stop being happy–and win more readers

Does the following sentence inspire you to dig into the writer’s newsletter?

The XYZ Financial team and I are happy to bring you this month’s newsletter.

It doesn’t inspire me. I doubt it inspires you. However, I often see financial professionals start their emails, letters, and newsletters with similar sentences. If they’re not “happy,” they’re “pleased,” “delighted” or something similar. This is so wrong. Stop being happy!

Why to stop being happy

stop being happyPlease stop talking about how great your content makes YOU feel.

Unless you’re writing to close family members or friends, no one cares about your emotions. They care about WIIFM—what’s in it for me, your reader. When you talk about your happiness you sacrifice the opportunity to appeal to their WIIFM.

In addition, focusing on YOUR emotions may make you seem self-centered or self-important. It’s as if you’re saying, “We are great. Bow down at our feet and worship us.” Okay, I’m exaggerating. Still, I hope you get the idea that I’m trying to communicate.

Your alternative to being happy

How else can a writer open their message? Start with something that solves a problem that your reader has. This will appeal to their WIIFM.

For example:

Curious about how the new tax law affects you? Avoid problems with the IRS by learning about the three things you may need to do differently, as covered in this month’s newsletter.

In addition to focusing on the reader’s WIIFM, this new introduction also gets to the point quickly. That’s essential to grabbing the attention of readers whose email inboxes are overcrowded.

Not sure how to identify your unhappy topic?

If you have trouble identifying your readers’ problems, read “Identifying ‘WHAT PROBLEM does this blog post solve for them?’” The same issues apply to blogs and newsletters. In fact, today’s newsletter articles often originate as blog posts.

 

Stop being happy and start attracting more readers and clients!

Image courtesy of stockimages/FreeDigitalPhotos.net

“Deep Work” rules to help you write more

Many people struggle to write as much as they’d like. This is especially true if the writing isn’t a core part of your job. I found some rules that may help you when I read Deep Work: Rules for Focused Success in a Distracted World by Cal Newport.

What is “deep work”?

deep work carl newport book coverHere’s how the author defines “deep work”:

Professional activities performed in a state of distraction-free concentration that push your cognitive capabilities to their limit. These efforts create new value, improve your skills, and are hard to replicate.

It’s clear to me that writers will benefit from this kind of concentration. How do you achieve it? One way is to develop rituals that signal to you that it’s time to focus.

I suggest that you create rules to answer the questions that Newport says must be addressed by an effective deep work ritual.

Rule 1. Pick a location for your deep work

Newport asks you to pick a location for your deep work. As he says, “If it’s possible to identify a location used only for depth—for instance, a conference room or quiet library—the positive effect can be even greater.” But you might be able to get away with working in your usual work place if you can set other rules to help you focus.

I think that being in a different location is one reason why I’ve been so successful with blogging on vacation, as I discussed in “No batteries required: My favorite blogging technique.”  When I’m not on vacation, I do most of my blog post writing either on steno pads, which I can use anywhere, or at my PC, which plunks me down in my office.

Rule 2. Pick a length of time for your deep work

“…give yourself a specific time frame to keep the session a discrete challenge and not an open-ended slog,” says Newport.

I have tried a variation on this by committing to work for a minimum of 15 minutes, as I discussed in “15 minutes to busting your writer’s block.” I haven’t tried putting a limit on how long I can work. That simply hasn’t been a problem for me. However, I can see how it would help some people to know that they need not continue working beyond their predetermined limit.

Rule 3. Limit distractions during your deep work

For example, this could mean closing email and blocking social media during your deep work.

Rule 4. Support yourself

Newport says this could mean you “start with a good cup of coffee.” It also means creating an environment that supports your work by keeping necessary supplies handy. Newport says, “…this support needs to be systematized so that you don’t waste mental energy figuring out what you need in the moment.”

I love Newport’s line about “…don’t waste mental energy figuring out what you need in the moment.” I think that’s one of the biggest benefits of any rituals or systems that help you to write.

For me, the support for my blogging means having a handy list of potential blog post topics so I never have to start from scratch.

For some writers, it might mean always starting from the most recent stopping point in your work, as I discussed in “Break your writer’s block with Robert Benson and Eric Maisel.”

What rules help you to do deep work?

If you’re achieving deep work, what rules work for you?

 

Disclosure: If you click on the Amazon link in this post and then buy something, I may receive a small commission. I only link to books in which I find some value for my blog’s readers.

Test your financial editing skill with these examples

Savvy editors can boost the effectiveness of financial content by streamlining it. Hone your financial editing skill by reviewing the before-and-after examples I share below. Some of the “before” examples are taken directly from my reading. Others are inspired by my reading, but tweaked.

I’ve grouped the examples by the main lesson that they illustrate. If you’re hungry for more examples, see “Can YOU simplify investment commentary better than this?” You can learn more more tips and techniques for financial editing in my book, Financial Blogging: How to Write Powerful Posts That Attract Clients.

If you can improve on my edits, please let me know. Sometimes an editor with a fresh eye can make improvements.

1. Delete or replace forms of the verb “to be”

edit financial writingBefore: The company’s 2015 loss is a reflection of the shifting preferences of consumers for ordering online instead of going into a store to buy.
After: The company’s 2015 loss reflected consumers’ shift toward buying online instead of in stores.
Note: “Is a reflection of” becomes “reflected,” as you replace a “to be” verb plus noun with the verb form of the noun.

Before: This data is supportive of higher prices.
After: This data supports higher prices.

Before: Stocks as expensive as these are often experience price declines.
After: Stocks this expensive often fall in price.

Before: This kind of growth could be sustainable going forward.
After: This growth could continue.
Note: I imagine that in either version, the next sentence might discuss what will drive the continued growth. I believe the writer is trying to say something with the adjective “sustainable.”

2. Delete “the fact that,” “it should be noted that,” and similar phrases

Before: We are pleased with the fact that the company’s profitability is improving.
After 1: We are pleased with the company’s improving profitability.
After 2: The company’s profitability is improving
Note: Phrases such as “the fact that” don’t add anything useful to the sentence. “We are pleased with” sounds self-congratulatory. I prefer to simply present the information.

Before: It should be noted that boom and bust cycles for oil tend to be long lasting and we have been talking about the end of this cycle for some time now.
After: Oil’s boom-bust cycles tend to last a long time, but this boom is already long.
Note: The rewrite also benefits from using the possessive. Using “but” instead of “and” makes the relationship between the two clauses easier to grasp.

Before: We have seen stocks that have failed to live up to expectations.
After 1: We have seen stocks fail to live up to expectations.
After 2: We have seen stocks disappoint expectations.
After 3: We have seen stocks disappoint.
After 4: Some stocks disappointed.
Note: This four-step revision shows how it can help to keep looking for ways to streamline your sentences.

3. Say what you think, not what you don’t think

Before: We do not think it is a coincidence.
After: We think it resulted from a plan.
Note: Say what you think. Don’t make people struggle to figure it out by analyzing what you don’t think.

4. Use the possessive to shorten

Before: The type of actions that Jeb Bush is taking might not seem strange to Republicans
After: Jeb Bush’s actions might not seem strange to Republicans.

5. Replace “result”

Before: These changes resulted in cost savings.
After: These changes cut costs.

Before: These changes resulted in revenue growth of 74%.
After: These changes grew revenues by 74%.

6. Remove excess words

Before: The recent sell-off in the small-cap stock market has created an attractive window of opportunity to invest in the sector.
After: Their recent sell-off has opened a window to invest in small-cap stocks.
Note: It’s clear from the context that a “window” is an attractive opportunity to invest.

Before: There has been a proliferation of new entrants into the social media analytics space.
After 1: Many new companies have started offering social media analytics.
After 2: Many new companies offer social media analytics.
Note: Try to replace nouns, especially multi-syllabic words such as “proliferation,” with verbs.

Before: The company has strong preexisting relationships with wholesalers.
After: The company has strong relationships with wholesalers.
Note: I don’t think you would make the mistake of assuming from the new sentence that the company has anything other than preexisting relationships with wholesalers, unless this is in the context of writing about something that brings new relationships.

Before: Mergers & Acquisitions (M&A) was a major theme in 2015, as transactional activity accelerated during the year led by many
prominent investment firms.
After: An increase in mergers and acquisitions (M&A), led by major investment firms, made M&A a major theme in 2015.
Note: This sentence was hard to simplify out of context. I might have chosen differently if I saw the entire paragraph. However, sometimes you can streamline by simplifying adjectival phrases. “Transactional activity” becomes “transactions.” Limit the number and length of adjectives. “Many prominent investment firms” becomes “major investment firms.” Avoid random capitalization, as in “Mergers and Acquisitions.” Letters that are capitalized in acronyms, such as M&A, shouldn’t be capitalized when the words are spelled out in full.

Before: The company was two times the size of its smallest competitor.
After: The company was twice the size of its smallest competitor.

Tips for refining your financial editing skill?

Editing other people’s drafts is a great way to improve your skill as a financial editor and writer. You can also take classes to get more practice. If you have other tips for improving your financial editing skill, I’d like to hear them.

Image courtesy of bplanet / FreeDigitalPhotos.net

5 rules for using quotes in investment commentary

Smart investment commentary writers are willing to learn from others. That’s why I was delighted when Rob Martorana shared the thoughts below in response to my post, “Should you use quotes like Bill Gross?” His rules about using quotes deserve wider circulation.

By the way, this blog post is a testament to the power of LinkedIn for connecting people. I met Rob thanks to the serendipity of his commenting on one of my earlier status updates on LinkedIn. This is a great reason to be on LinkedIn.

5 rules for using quotes in investment commentary

By Rob Martorana

I agree that quotes should not be “teaser” content. If Bill Gross opened his article by quoting “When I’m 64,” the article should be about aging. Authors should use quotes carefully, and always with their audience in mind. Here are five rules I try to live by:

Martorana_headshotRule #1: Do not quote ancient philosophers when the market is crashing.

That annoys clients to no end. Investors do not want to hear from Sun Tzu and the Art of War after they just lost $100,000.

Rule #2: Do not quote people out of context.

Show that you understand who said it, when they said it, and what they meant by it. Don’t put words in the mouth of the person you are quoting.

Rule #3: Do not quote out of cowardice.

If you want to say something controversial to the audience, just come out and say it. Don’t hide behind the authority of a historical figure.

Rule #4: Keep your wit on a short leash.

Quotes are often used to entertain and amuse, rather than to illustrate and illuminate. This is related to rule 5…

Rule #5: Get to the point quickly.

Remember that “brevity is the soul of wit.”

Investment writing should be clear, concise, and concrete. Don’t take me down a rabbit hole to show off your knowledge of Milton Friedman or Michel Foucault.

Rob Martorana owns an RIA in New Jersey, where he manages money, publishes articles, and provides competitive intelligence on the wealth management industry. His research interests include portfolio design, expected returns, liquid alternatives, and the digital delivery of investment advice.

Style guidelines for financial services firms

Style guidelines for financial services firms can help you to make your written communications more consistent and thus easier to read.

 

Why create style guidelines for your financial services firm?

writing guidelinesIt can be distracting if writing styles are inconsistent within and across documents published by your firm. For example, is it “counterparty” in the first paragraph and “counter party” in paragraphs two and three? Do headings randomly mix sentence case and title case? Is your company name abbreviated in different ways?

It’s a good idea to pick a major style guide, such as the AP Stylebook, to use as your reference for common questions. However, style guides often don’t cover challenges specific to financial services firms. They certainly don’t tackle company-specific branding issues.

Creating style guidelines tailored to your company can help your writers and editors fill in the blanks left by the major style guides.

How I create style guidelines for my clients

For my editing clients, I create style guidelines for my own reference. They help me to be consistent. Also, I share the guidelines with my proofreader, when I use one.

As issues arise, I record the preferred style in an Excel spreadsheet. In the first column, I record the word, phrase, or other issue. In another column, I record the preferred practice.

Here’s an excerpt from the Capitalization section of one style sheet.

Capitalization style guidelines sample

 

 

 

 

 

potential topics to cover in your financial firm's style guidelines infographic

Section headings that I’ve used include the following:

  • Abbreviations/acronyms—for example, BRL→Brazilian real, 50 bps→50 basis points (0.50%)
  • Capitalization
  • Company names—identify your source for the preferred spelling of company names
  • Credentials—for example, use the ® mark with the CFP designation
  • Headings—for example, use sentence case and bold
  • Numbers—for example, SPELL OUT numbers 1 to 9, even in five-year Treasury
  • Punctuation/grammar/style—for example, use serial comma; DO hyphenate first-quarter & worst-performing WHEN used as ADJECTIVE; use a consistent number of decimal places
  • Spelling—for example, health care, NOT healthcare
  • Word replacements—for example, cap rate→capitalization rate

How long should your style guidelines be?

My client style sheets would typically fit on one page, if printed out.

I like the philosophy of Intelligent Editing, which recommends that your style sheet run no longer than four pages. The firm says in “Writing a Style Guide: What You Need to Know“:

…bear in mind that the goal is just to focus on points of style where there is no right answer but where one usage is preferred by the organization. A style guide is not the place to teach your colleagues things that they should already know.

The longer your style sheet, the harder it will be for you and your colleagues to apply it consistently. It’s harder for users to keep all of the issues in their heads, even if they scan the style sheet repeatedly.

If you already have style guidelines

If you already have style guidelines, please share them with writers and editors whom you hire, in addition to your company’s employees.

You may struggle with getting your financial firm’s writers to follow them. I’ve addressed your challenge in “Reader question: How to get writers to follow style guidelines?

Image courtesy of adamr/FreeDigitalPhotos.net