HOW WOULD YOU HANDLE FIRST CONTACT WITH ET?

Astrophysicist have been observing blinking lights in the cosmos for decades now. They say it could be a natural phenomenon, or even possibly communication taking place between extraterrestrial civilizations. Many in the scientific and ufology communities believe that it is possible that we could make first-contact with someone outside of our solar system in the next five years or less. But the big question is, how would you handle this earth shaking event?