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    23 May

    Mind Mapping

    Financial Advisor Magazine May, 2008

    by Joel Bruckenstein

    ...    For readers unfamiliar with the term, a mind map is a diagram that usually shows a key word or idea in the center of a page and then expands on it by linking other words, ideas or tasks to it. A mind map can help generate, visualize, structure and classify ideas. It also may help with study, organization, problem solving, decision-making and writing.

    Many successful corporations including Amazon, Coca-Cola, Microsoft, 3M and Starbucks use mind mapping software to organize, manage or brainstorm. ... 

    The origins of mind mapping are not clear. Some claim that Tony Buzan, a British author, originated the mind map in the 1970s; others credit Dr. Allan Collin and M. Ross Quillian with creating mind maps in the early 1960s, though there is evidence that similar techniques were used as least as far back as the third century. One thing is certain, however: Buzan refined the technique and subsequently introduced it to millions of readers.

    Although mind mapping can be done with a pencil and paper, software can enhance the experience. Comparing paper mind maps with computerized ones is similar to comparing a handwritten report with one prepared on a word processor. With the latter, you can easily rearrange, reformat and correct your document. In many cases, the program will do much of the formatting work for you. It will even check spelling and grammar in your document. 

    Mind mapping software offers many of the same advantages. Through the use of templates, shortcuts, auto formatting, etc., you can create more elaborate, better-looking mind maps in less time. You can also create hyperlinks, embedded notes and even embedded mind maps within mind maps. In addition, some of the latest software and online applications greatly enhance the collaborative power of mind mapping.

    Most experienced mind mappers follow a well-defined sequence during the mapping process. When you start a new map, the recommended procedure is to start by placing the main idea in the middle of the screen. This is called the “central topic.” Then supporting ideas, referred to as “main topics” are added in a clockwise fashion, starting at the 1 o’clock position. From the main topics, you can branch off to subtopics. 

    Once you get the hang of it, editing and enhancing the original mind map become second nature. You drag and drop topics if you want to move them around. You use colors and icons to make maps more visually striking. It is even possible to create hyperlinks to documents, spreadsheets and Web pages so that they are available from right within the map. 

    So how can mind mapping software help you enhance your practice? As it turns out, the possibilities are limited only by your own imagination and creativity. Let’s look at some examples of how advisors are currently using mind maps in their practices.

    A number of firms are using mind maps as a client education tool. ... Although some of these mind maps can be quite detailed and complex, the vital information all fits on a single sheet of paper. ... 

    Others use mind maps to solve personal or business problems. Gary P. Gardner, CFP of LifeWealth Advisors, shared with me his unique approach to mind mapping, which he has termed “strategic mapping. 

    “Every procedure in our office is mind mapped,” Gardner says. “Some of the maps have over 150 steps. Since procedures change over time, we allow employees to edit the procedural maps, but we keep track of who edits what, and the edits are reviewed to ensure accuracy and consistency.”
    Building on principles that he learned from Dan Sullivan’s Strategic Coach Program, Gardner starts with an objective. He then identifies and maps all the obstacles that prevent him from reaching the objective. This allows him to rapidly identify whatever is standing between him and completion of his goal. Next, for each obstacle, action steps are mapped to overcome the obstacle. What results is a road map for successfully reaching his objective. “Strategic mapping is a breakthrough that has greatly enhanced my productivity” he says. ...

    Mind maps are ideal for staff meetings and brainstorming sessions. Ideas can flow freely during a conversation, and those taking notes can capture the main thoughts and ideas. Once these are recorded, the focus can shift to one or more of the ideas, and participants can drill down to fill in the details. Mind maps also work well for constructing organizational charts, job descriptions, internal to-do lists, client to-do lists and much more. In addition, mind maps seem appropriate for the construction and maintenance of manuals, including the procedure manual, the corporate benefits manual, the compliance manual and the disaster recovery manual.

    So what about software? According to an informal and unscientific survey I performed, it appears that MindManager Pro from Mindjet LLC is the most popular mind mapping software among planners. ... 

    Those who want to start off slowly with mind mapping or those who are interested in collaborating with mind maps over the Web might want to check out some of the newer online mind mapping applications. I have not done a comprehensive review of online mind mapping applications, but three that look intriguing to me are bubble.us (http://bubbl.us/), Mind 42 beta (http://mind42.com/) and WiseMapping beta (http://wisemapping.com/c/home.htm).

    All three are free and they all allow you to collaborate with others online. ...

    Mind mapping software is clearly a tool that is being used successfully by a number of advisors. The flexibility of mind maps means that almost any advisory firm can benefit from trying them. With a street price of roughly $300, MindManager Pro 7.0 seems like a bargain considering all that it can do. If you want to try MindManager Pro 7 before you buy, a fully functional 21-day demo version is available here: http://www.mindjet.com/us/download/

    If you are on a tight budget or interested in collaboration, or if you want to try an easy-to-use mind mapping application, consider giving one of the free online applications a try. Whatever avenue you take, I’m sure you will find that mind mapping can enhance your practice and perhaps your life as well.