Customer Servie - The Key Component of Marketing and Sales

Many businesses find themselves facing the choice of taking alternative approaches or following certain approaches to marketing and/ or selling their products and/ or services. While it is often possible to make a particular one - time sale based on offering a low - ball price, this approach rarely creates any long - term allegiance. When one observes a variety of business models, there are numerous examples of different levels of customer service or support, as well as different levels of training that businesses offer to their customer service representatives. What those who fail to prioritize or pay sufficient attention to this process may still enjoy some degree of success, invariably it is the quality and consistently of their customer service representatives that dictates their longer term sustainability and acceptance. Think about times you've used a representative or agent, such as in either a financial services or real estate scenario - Does that individual truly serve your needs and pay the type of attention to the details and needs of you (either as a customer or a client)?
 
1. It is certainly true that a business or agent can make a sale by offering a lower price, that behavior rarely develops a committed customer, and certainly never leads to the very desirable client relationship. However, we often observe companies that initially react to down periods by diminishing and reducing customer service and the related expenses. Nothing could be more counter - productive, because in the bigger picture, customers remember how they were treated far beyond the period that they recall the price they paid. Consider how you personally feel when you go into any store, or make a call to a company, or deal with an agent, and how the initial treatment irreversibly impacts your perception and opinion of that business. Effective service means a real and concerted effort to make the buying experience a far more positive one for customers and clients, and differentiating yourself from the competition. Isn't it funny that so many businesses spend so much money and time doing post - process interviews, while often ignoring or certainly not paying enough attention to how they treat their customers or potential customers, in the first place?

2. There are many essential components to assure that a quality procedure is consistently followed. It begins, as so many things in business, management and leadership do, with a prioritized commitment to everything that makes the buying and/ or shopping experience a better one! It must begin with not simply acting like you care, but actually doing something. When businesses or commissioned agents/ representatives spend more effort on serving their customers than simply thinking about selling, their sales are enhanced rather than diminished. Successful organizations and salespeople always understand that exceptional service creates a positive word of mouth, which is the most powerful and meaningful form of marketing.

After more than three decades of extensive consulting to hundreds of businesses and organizations, it has become obvious that the most sustainable behavior is professional, quality and consistent service. Businesses (and all who are in a customer - based business) must come to understand that it is not the sales you make today that count the most, but rather how you are perceived and appreciated by future potential customers and clients.

Business Ethics - An Oxymoron?

We often read and hear references to business ethics. Undergraduate and post graduate courses dedicate large amounts of time and resources to the topic. However, if one were to ask the average consumer if he believed that most businesses were conducted in an ethical manner, we would predominately receive negative responses. Simply stated, ethics can be defined as doing the right thing, the moral thing, and treating others with honor and respect. Related to business, this concept would include several items, and when we evaluate how most businesses conducted business, we would often avoid referring to these practices as moral. Many organizations and professions have prescribed Codes of Ethics, including: medicine; dentistry; law; financial planning; not - for - profit fundraising; and real estates.

1. One of the necessities of being ethical is telling the truth. However, when we look at how businesses, services and products are often promoted, the truth is stretched rather thin. One example, of course is the mobile communications or cell phone industry. Each carrier runs ads trying to convince us how superior they are. However, since there are no legal requirements even for using terminology such as "4G," and each carrier handles their lines differently, there is often quite a bit of variation. For example, going strictly by its ads, one would believe that Verizon cellular service is nearly perfect. Its advertisements makes claims about the clarity of its calls, how few calls are dropped, its speed, etc. While that is the case in some areas, several of my friends on Verizon service experience dropped calls, etc., in various areas, while having excellent service in others. AT&T Mobility claims its system is fastest, and in some areas it is. I use the system and have had wonderful experience, yet, I know others who have been extremely disappointed. Sprint customers have similar experiences, and I have had wonderful experience with Sprint's Air Card, which works well nearly everywhere I've used it. However, as good as it is, it is certainly not as quick as wired or WI-FI service. Every other service has its proponents, as well as its attackers. The issue is not which service is the best, but rather how the services promote themselves. While effective advertising is self - promotional by definition, misleading ads are certainly not terribly ethical.

2. Have you ever gone into a store and purchased something, and the store quickly asks you if you'd like to purchase an Extended Warranty. While there is nothing wrong with offering this, nor with the stores making additional revenues doing so, have you ever been given a clear cut explanation of what is and is not covered, and the limitations. Remember, we are discussing ethics here!

3. Investment Advisers are another area of ethical concern. Is the individual an unbiased adviser, or is he simply a salesman disguising himself as an adviser? Both duties and functions are acceptable, but which is ethical?

4. In Real Estate, does the average buyer truly understand the difference between being represented by a Buyers Agent, a Brokers Agent, and a Sellers Agent? In New York State, for example, by law, prospective buyers must be given an Agency Agreement that explains each of these. Yet, if the average buyer truly understood the differences, one would think the vast majority would prefer using a Buyers Agent, whose loyalty is directly to the buyer. Is this an ethical dilemma?

There are so many situations in business where there is the opportunity for a business, product, or representative to opt to either prioritize ethical behavior, or to merely do what might be expedient and in the store (or business, product, or reps) best interest, rather than the customer (or buyer). Therefore, one must wonder if business ethics is another oxymoron, such as military intelligence, moral politician, etc.

How To Select A Consultant?

Many individuals represent themselves as qualified consultants. These people often represent themselves as experts in specific fields of endeavor, with special skills, knowledge and expertise that makes paying their sometimes exorbitant fee justifiable, and even a necessity. Many so called experts are simply trying to set some product, service or program that often benefits the consultant to a greater degree than the organization.Whether this is for oneself (personal needs), for a business or for a not - for - profit organization, one should be careful when choosing and hiring someone to consult for you.

One example, in our personal lives, is selecting either the best financial planner for you, or the most appropriate real estate professional (who will optimally meet your needs). Identify, understand, and make your decision, based on your needs and/ or priorities. I have often used a trademarked concept, "I'll always tell you what you need to know, not just what you want to hear." TM  Seek a consultant who prioritizes you and your individual needs, and listens carefully to you before making any particular suggestion.
 
If one is searching for a consultant, I would strongly advise staying away from any consultant who insists on using a one size fits all approach. A good consultant is an effective listener, who thoroughly listens before making any recommendations or proposals. I have witnessed far too many so called consultants who made self serving recommendations that ultimately are harmful to their clients. In my three decades plus of consulting, I have worked hard to develop a reputation for always placing my clients first. I steadfastly object to those that soil the reputations of all consultants by acting in unscrupulous manners, and hurting the image of the many honorable and reputable consultants.
When considering retaining a consultant, it is essential to get recommendations from others. However, like so many other times, the individuals given for recommendations are either friends or others that are certain to only give glowing recommendations. Consultants should dedicate themselves to their clients, and serve the need of their clients.

It is the responsibility of a consultant to listen thoroughly before making any proposal. Each organization (as well as each individual) has a different ethic and culture, different needs, different financial considerations, different demographics, and different membership and leaders. Professional consultants have learned to always collect their fee up front (when the law permits), because otherwise it may be difficult to give an unbiased and honest opinion. After observing and listening thoroughly, a consultant must help the organization to create a risk/ reward chart, and be certain that the leadership of the organization fully understand and appreciates the complete ramifications of all actions. Consultants must also be able to explain that doing nothing is in and of itself, taking an action. I believe that a good consultant needs to explain to an organization's leadership that taking no action very often has far more dire and adverse results that even taking the wrong action. Far too many organizations do many things less than optimally. They often budget incorrectly, do not see the big picture, spends too much on certain items and too little on others, and almost universally, spends an inadequate period of time effectively training its leaders.

Many people, as well as organizations can benefit from using the services of a consultant, but it must be the right consultant. Choose wisely.

You Will Never Get What You Want, Unless You Ask, and then Close the Deal!

Everything we do in life involves the sale of either a product or a service. While many professionals often cringe at agreeing with that premise, the reality is that in some manner or other, each of us need to sell either ourselves, or someone else, on either an idea, a service or a product.

Having trained salesman and marketers, as well as their managers, for over three decades, I have observed innumerable individuals who never achieve the results that others, who often appear to have less talents or abilities, end up with. Many marketers and salespersons make the mistake of painstakingly preparing and rehearsing their presentations (or "shpiels"), and often give a technically near-perfect presentation. However, often others with lesser presentations end up with far superior results.

For example, real estate professionals must become effective closers, both, in order to make a good living, but to also so the best possible job for their clients. There must be a commitment to asking the challenging questions, explain clearly, and then clearly and somewhat forcefully, get a meeting of the minds. 
 
The main reason for this often is something that is referred to as "closing," or "the close," or "the ask." When someone does not ask the person he is presenting to for some sort of commitment or agreement, he rarely will get it volunteered. Effective and productive presenters realize that one must ask something like, "Doesn't it make sense?" and wait quietly for a response before proceeding.
When these same people role play, or rehearse their technique, they nearly always do close. Then why don't they when the real opportunity comes up? At one point, I over-analyzed this situation nearly to death. I "bought into" all the philosophical "mumble-jumble" that is given by those without true experience or expertise, who have simply read or heard something somewhere. However, over time, I have come to a very simple reason why closing is not done in real-time situations. Many individuals have difficulty going outside their own personal comfort zones, to ask for the "sale" or "deal" or "agreement." When one does not ask, they almost never get to the "deal" stage.
The same is true in negotiations. I have conducted hundreds of negotiations in the last three decades. One only has a chance of getting any type of adjustment or concession during a negotiation if you ask openly for what you want.

Therefore, it is important that each of us understand that it is not the presentation that counts, as much as the "close." If you really want something, you must ask! Too many of us make excuses, and blame others when we do not achieve our objectives. Achieving objectives is very often dependent upon taking personal responsibility and doing what is necessary to get it done.

You Can't Lead Someone Else's Dreams!

How many times have you heard someone speaking about their dream and how important it is to them, or heard someone attempting to motivate you by urging you to have an essential dream? Perhaps the late Dr. Martin Luther King Jr. is the individual most remembered by his dream and his famous "I have a dream," speech, that motivated so many to better realize the significance and importance of the civil rights movement. However, while our dreams lead us to set meaningful goals, it is important to realize that we cannot simply follow someone else's dream, regardless of how meaningful and significant it may be, but we must find our own driving force that motivates us to do what is most essential to our achieving our most pressing goals. For example, those seeking to become a homeowner, must realistically and thoroughly examine what's most important to them, and not what others want, or seek. Making yourself happy is selecting the home that best serves your overall needs, including the price you can afford, location, and the house itself. Every real estate professional, as well, must identify what the main objective of their career means to them, and rather than merely do what others do, maintaining your highest degree of personal, absolute integrity.
 
1. Meaningful goals must be personal in nature. That does not mean that they only impact us, but rather that they are a out what is most important to us personally. Our goals must address some specific needs, either those that are immediate in nature, or longer term. What motivates each of us does not have to be in accord with things that motivate or drive others. It is our dreams that move us to set goals, and these both direct our vital vision.

2. In considering and understanding dreams, it is most important to consider what truly motivates us to do whatever we decide to do. While others may have dreams that motivate them, and even may cause others to consider options and alternatives, dreams only gather their power when we make them our own and personal. Unless they are personal, they do not attain the power to be internalized, and therefore drive us towards specific ends and addressing certain actual or perceived needs.

3. When a dream is powerful enough to cause us to persevere and persist in our pursuit of goals that we find important, they create an inner strength and fortitude that makes us care more, do more, try more, and be more persistent. Think about those things that most motivate you to move forward and stretch your limits. Whenever we expand our comfort zone, we are able to do more, and thus when our dreams are important enough to us, we are far more willing to do more actual stretching.

There is no doubt that dreams are one of the most important driving forces. However, they only have this power when they are things that are truly meaningful to us.

Customers Versus Clients

Many people commonly interchange the words "customer" and "client" in their every day conversational usage. While there are, in fact, a number of similarities, there are also quite a few differences. These differentiations come much more often in service industries than in those where a product is sold retail, because, in retail sales, nearly everyone, with only a very few exceptions, are customers.

A customer is someone who either buys a product from you, or uses your services, without specifically contracting in any type of exclusive way. On the other hand, when one enters into a client relationship, there is far more of an obligation on both parties part.

This differentiation is most evident when it comes to the real estate process. A homeowner, who lists his house for sale with a real estate broker, enters into a client relationship. The homeowner, for a specific period of time, is contractually bound to that broker, in terms of all aspects of the sales procedure, except of course, the final decision whether to accept an offer, which always remains the homeowners option. The broker is obliged in a number of specific ways, as specified by that state's specific real estate laws and regulations. In most cases, a broker and his agents, owe the client a fiduciary responsibility, which includes confidentiality (except in the case of any material misstatement or other illegal or immoral situation), making best efforts on the client's behalf, and doing the best to secure the best possible offer and negotiating on the owner's behalf. The broker owes his entire loyalty to the owner during this entire procedure, and is forbidden to do anything which is not in his client's best interests.

When someone uses the services of a Realtor in the real estate buying process, most states require some specific type of Agency Agreement. A buyer or potential buyer can have the agent serve either in a customer or client relationship. First, a buyer can decide if he wishes to use an agent as a Seller's or Buyer's Agent. A seller's agent owes his responsibility to the seller of the house, while a buyer's agent negotiates on behalf of the buyer. Obviously, in this latter scenario, the broker owes his allegiance to the buyer, and is expected to due necessary due diligence, as well as supply the potential buyer with all pertinent information that he may attain. This includes information about length on market, how negotiable the seller might be (while a seller's agent should be trying to maximize price received by homeowner, the buyer's agent tries to obtain the best possible "deal" for the buyer.), and other important factors that might impact the buyer. A person desiring this arrangement can still be a customer, but generally will enter into a client relationship, so that the broker puts forth maximum effort on his behalf.

While in both scenarios, there should be no material misstatements ever made, obviously the degree and type of effort put forth will differ. It is important for the public to understand the distinction.

Managing Time Effectively

While each of us have the same amount of time in our day, doesn't it seem that some people get far more accomplished in that period than others? Most of us tend to treat money and possessions as treasured assets, while neglecting to protect and maintain our most treasured resource, which is time. Benjamin Franklin said, "Lost time is never found again," and those words are truer today than ever.
There are numerous steps and ways that we can better use our time. These include:

1. Creating to do lists help us organize ourselves, and give us a way to check off items when completed. One of the great benefits of doing this is that it reduces our chances of forgetting something, while often streamlining our activities procedures. If one creates this list (either on paper or on some digital device such as a P.D.A., etc.), it helps most of us focus at what we wish to, or need to accomplish in a specific period.

2. Most people spend far too much time doing "busy work," and then "panic" at the last minute when a task has not been accomplished. If a task is a multi- step task, it is often a good idea to create a detailed Action Plan, breaking the larger task into a series of necessary or essential sub- tasks. Each of these sub- tasks should be as detailed and organized as possible, and it is necessary to assign a specific time line for each task that is needed to be done.

3. Sometimes, one of the most obvious differences between someone who uses time better and someone who does not, is simply creating a personal routine. One should allocate time each day (and a specific time period, if possible) to each of those personal items that make your routine complete. That includes exercise, reading, entertainment, shopping, etc.

4. These theories and actions should be applied to both one's business life as well as any involvement in organizations, etc. Having worked for over thirty years with both business and organizational leaders, it has become quite clear that different individuals vary in their degree of organization, and time utilization. There is an adage that if you want something done that you should assign it to a busy person, and it is a truism because the busiest people are often the most efficient. Of course, it is important to evaluate if one is simply busy doing "busy work" and accomplishing little, or efficiently handling tasks in a timely manner.

As I have taught and written many Leadership Training programs over these last more than thirty years, I have devoted more and more time and emphasis to the importance of managing time. Often, the person who seems to have the most free time has it because he has more efficiently and capably managed his time. Don't be misled by someone who seems to spend countless hours on a project, because there often is not a direct correlation merely between time spent and quality of the work. It is not how much time one spends, but the quality and efficiency of the labor.

Investments Using Real Estate

There is almost no one that fails to realize that there are investment possibilities using real estate. Some people will tell you that they invest in real estate because they own a home, and they expect it to increase in value over time. While historically real estate has, in fact, increased in value over time, there have been periods where that has not been the case. When it comes to our homes, we should only look at them secondarily as possible "hedges" against inflation, over the long haul, but primarily we should consider where we live to be our residences, and the places of habitation, where we live. For example, people who have purchased homes in certain three to five years ago, have seen the market value of their houses fall. While, historically, these have been "corrected" over time, it is important to stress that we should not look at our personal residences as short- term investments.

Others have shied away from real estate investing because they felt they could not afford the amount necessary, while others have often improperly bought investments with the intention of "flipping" them in a relatively short period. There are numerous ways, in fact, that one can invest in real estate.
One of the most obvious methods of investment is to purchase a property or properties, and then rent them. Those considering this option must realize that there are risks involved, as well as positive possibilities. The positive possibilities include certain scenarios. One such scenario is buying a house or condominium at a very reasonable price, and being able to rent it out. In some situations, it is possible to generate a positive cash flow, meaning collecting more rent than the amount expended. One should remember however that there is also something known as the opportunity cost of money, which compares what might have been made if the money used, for example, for a down payment, were able to be invested elsewhere for a greater return. Another consideration should be the very real possibility that a tenant may either be slow in paying rent, or "skip out" completely, that the property go vacant for any period of time thus not bringing any money in while the owner still must pay the carrying charges, etc. In addition, one should figure in the wear and tear, insurance, utility costs, etc. Of course, the owner also gets certain tax advantages including such things as depreciation, cost deductions, and possible profits, as well as the possibility of the property appreciating in value over time. So, as you can see, like in most things, there are pros and cons in that scenario. My suggestion is do all your calculations to see how this weighs out on a risk/ reward scale. People using the above scenario should also make the decision whether they will be actively or passively owning this property. I advice speaking to a knowledgeable tax professional so that you fully understand the requirements of each.

Another way to invest in real estate is through a Real Estate Investment Trust (REIT) or as a partner in a Real Estate Limited Partnership. In both these cases, professionals manage the properties, and you are an investor. In most situations, your liability is limited to your initial investment. I recommend doing thorough due diligence on the general partner and/ or manager, as well as discussing all tax ramifications with a knowledgeable tax professional. Potential investors should always be vigilant and remember that there is no such thing as a "sure thing."

Real estate can also be an investment vehicle in commercial markets, but it is important to understand and determine the risks versus the potential, and have a viable model and experienced partners to work with and be involved with.

Many people have done very well investing in real estate, while others have suffered financial losses. Real estate, like many other things, can often be a value portion of an overall investment strategy, when used in the right set of circumstances for the right person. Real estate is often not nearly as liquid as other forms of investment, so that should also be kept in mind.

Real estate as an investment - absolutely! Is there any risk? Also - absolutely!

Interpretations: Fact - Based Versus Emotional Approach

Every day, we all need to make certain judgments or take certain actions, based on our personal interpretation of certain facts. While ideally that interpretation should be open-minded and based on facts, often it is simply an emotional reaction, based on little more than our own personal bias or point of view. Beware of anyone that narrowly interprets anything, especially when it is done to support his personal position or self - interest. When you use the services of either a financial or real estate professional, carefully review and judge the caliber of advice or suggestions on whether they show only pros and no cons, or vice versa. For example, don't narrowly select your real estate agent based on only one factor, such as commission, or how highly they suggest you price you home to list. Be ruled by logic instead of emotions, because others will generally be far more objective than you. Spend the time being objectively introspective!
 
The ideal way to interpret any information is by carefully reviewing all the facts given, and then reviewing them for factual accuracy. The next thing to do is review the raw data, rather than someone else' s  interpretation of that data. Of course, this takes developing an expert skill - set whereby one becomes capable of interpreting raw data. Interpreting data means first understanding where the actual data comes from, how it was supplied, and what methodology was used. If it is some sort of "sampling," it is important to know the size of the sampling, who gathered the data, how it was collected and collated, and what the "statistical error" is for that particular sampling (that is usually stated as being plus or minus a specific percentage). The next thing to do is to look at the actual questions or categories examined, and whether the way the question may have been worded could have been a possible factor in the skewing of the data. Then, one must analyze what the significance of this data is, or if it is relevant to what you are examining at all.

In examining the dynamics of not-for-profit organizations for several decades, I have observed that after a meeting, seminar, etc., many organizations feel the necessity to use some sort of questionnaire. It seems that these organizations feel that the feedback received via these questionnaires will be valuable in understanding the success or failure of the meeting. However, it has been found repeatedly that the wording of the questionnaire, the excitement of the group dynamics (especially right after a meeting), etc. unduly influence responses to these forms. In addition, many attendees cannot adequately identify the true needs that needed to be addressed by this seminar, so they are really simply stating whether they liked or disliked the meeting. If a meeting or seminar was goal-oriented and action-directed, the responses to these questionnaires are even less valuable, because how can an attendee who is not an expert on a particular subject, evaluate how well that topic was discussed.

There is nothing wrong with using questionnaires for obtaining certain types of limited information. Certainly, political organizations and candidates can use polling as a guide toward what their constituents want. However, if the purpose is measure how well someone learned information, most individuals are not the best judges of their own progress, especially when they are not perhaps sure what they needed to know, in the first place.

Understand that the value of any data is often based on how it's being interpreted. In any endeavor, it is essential to proceed with your eyes wide - open!

One must understand that their is a basic difference between something that is data-based, and something that is merely emotional. Unfortunately, most individuals are not equipped adequately to properly understand all the nuances.

Why Great Negotiators Are Superb Listeners?

We often perceive that one is great negotiator because of his personal strength, commitment, ability and perseverance or persistence. While all of these factors are needed and involved, one that is too often overlooked is the need to be a superb, effective listener. When someone listens carefully, he is able to understand more clearly the needs of his negotiating adversary, and can better proceed to achieve a meeting of the minds that nearly always determines the success of that negotiation. Perhaps the one industry and/ or profession where being a superior negotiator is most significant to a consumer, is in the real estate transaction process. When you decide who to hire as either your listing or buyer agent, weigh negotiating skill as perhaps the single most necessary and relevant asset and need. Effective negotiating necessitates having the ability to:

1. clearly communicate the needs of both parties;

2. relate to not only the position you represent but also the opposing one;

3. have a willingness to thoroughly discuss needs and priorities;

4. sufficient communication needs and patience to explain your position; and, finally and perhaps most essentially,

5. listen to concerns in an empathetic manner.

What does communication mean as it relates to negotiations?

1.  Unless both parties clearly communicate their positions, it becomes nearly impossible to develop the needed atmosphere and forum to achieve needed objectives.

2. Can you relate to the other person or party's positions, needs and points of view? Unless someone is willing to dedicate himself to relate to and empathize with his adversary, how can they develop the path towards win - win negotiations?

3. Don't ever assume that the other party knows what you need, or that you know what they need!
Rather, take the time to ask clarifying and informative questions, and get to know each other before you begin the nitty - gritty of actual negotiating.

4. Once you've followed the first three steps in a thorough manner, take the time and effort to explain in detail what you're looking for, why it is so essential and important, and ask for feedback and give and take. The better both parties commit to the explanation process, the better the possibility of an impactful and meaningful agreement.

5. The previous steps all depend on this one. The basis of negotiations must be to listen to concerns, needs, and objections voiced. One reason that many negotiations break down is that the two sides interrupt each other, speak at instead of to each other (or even better, with each other!), and overlook needs, concerns, etc. In order for any negotiation to be successful, especially in the longer term, it must be approached from the point of view of win - win, rather than merely being oppositional or greedy. The better the two sides get to know each other, invariably, the better the results.

If you want to negotiate effectively, begin with being an effective listener! How can you possibly come to a meeting of the minds if you don't understand both sides of the position?

The ABCDE of Strategic Planning

Any organization, business or individual, who wishes to maximize his potential, and to plan effectively both for the present and the future, should undergo and prioritize strategic planning. This means considering not only how to react, but planning how to act, not simply going from crisis to crisis, but evaluating in advance, and learning how to prioritize one's actions based on needs and degree of importance and relevance. Many organizations claim to do strategic planning, because at one time or another, they created a committee or panel to evaluate needs and strategy. Effective strategic planning is a continuous and ongoing process, and requires both commitment and vision.

When I refer to the ABCDE of strategic planning, I am referring to: analysis and assessment; best way and because; caring and then creating; deciding to deliver; and evaluating to achieve excellence. In our personal lives, it's about determining the best course of action to get us what we really want (and knowing what that is). If this relates to investments and finance, it begins with knowing, understanding and addressing your needs, goals and priorities. When it comes to real estate, it means that both buyers and sellers will always get their best results when they begin with a realistic objective and the ability to get there, and selecting the real estate professional who best serves your needs, goals and vision.
 
1. Because we do not live in a static society, sustainability often requires remaining relevant, by evolving on a gradual, ongoing basis. Groups must truly examine their identities and purposes, in order to assess needs currently, and in the near term and longer term future.

2. This means that an organization (or individual) must find the best way or best methods of achieving their goals, and meeting their needs. They must take an honest look at themselves, to understand the because of membership (in other words, why would someone want to belong or be associated with the group). What purpose or direction or combination of items, does the organization serve that is either not served or undeserved elsewhere?

3. Why should someone care about the organization? What does the organization care about; what are its values or ethics? Are these concerns relevant and significant to others? Based on what the group cares about, what does it do, or in other words what programs, visions, goals, and actions has it created?

4. It is never enough to just have goals, address needs, and to talk about them. Talk may at times be soothing, but until an organization actually makes the conscious decision to deliver on its goals and promises, no one will take the group seriously. Organizations are judged and attract attention, not by the loftiness of its rhetoric, but rather by whether or not it takes steps to deliver on its promises. Similarly, individuals must avoid the tendency to lie to themselves!

5. Part of the strategic planning process must be to do things better, and never settle for being less than it can be. This means that the process must also be evaluative, in order to come up with an approach that will emphasize excellence and achievement.

In over thirty years of organizational and leadership consulting, as well as personal development and financial adviser,  I have been involved in developing and implementing over a hundred strategic plans. While strategic planning is important, it must be viewed as far more than just a process, but rather a methodology, on an ongoing basis, of assuring not merely survival, but maximum performance from an organization, or an individual, etc.

Your Decision - GOOD Enough, or GREAT?

Most of us, at many different points in our existence, end up having to make the very personal decision whether to end up settling for doing the easier or comfortable route, rather than taking the often more challenging route or path, which is to pursue greatness, in every action and mannerism of our being. The more comfortable approach, for many, is to take that path of least resistance, because it affords us what we perceive as less risk, and thus permits us to hide within our self - limiting comfort zone. Therefore, we must face the facts that it always a choice we make, whether to opt for good - enough, or to aim for truly being, performing and behaving GREAT!

When you do business with someone else, do they make you feel like their attitude is towards achieving GREAT results, or are they more willing to merely settle for good enough? It often makes a significant difference in the final results, especially in financial or personal life - related issues, such as investment and real estate professionals.
 
1. Greatness always begins with having goals, and pursuing the best course in a goal - based, directed manner. Good may be better than poor, but is rarely the proper or sufficient course for anyone who wishes to enhance, expand and live up to his potential.

2. Avoid taking the easier course merely because it is easier or more comfortable. Rather, one's pursuits must be consistently responsible and responsive, in nature. Positive thinking, attitude and outlooks are helpful and needed, but must never merely be rose - colored glasses in nature, but rather must be in sync with reality! In addition, avoid expecting others to do things merely because you think or hope they will, but rather maintain the highest personal expectations, while expecting reasonable actions and responses from others. One nearly always makes a greater impact when he behaves in a rational and relevant manner.

3. Enjoy what you're doing, and you'll always perform to a far higher degree of energizing and effective manner. One's personal goals must consistently focus on enhancing quality in everything he does and gets involved in, and remembering that broadening one's personal outlook and perspective, by being empathetic in nature, and perceiving things from the perspectives and needs of others.
4. Greatness demands an absolute commitment and adherence to the following formula: Aptitude + Attitude + Attention = Best performance. It's your personal decision, whether you seek to be normal and pursue being somewhat mediocre, or demanding your personal best in everything you do.

5. Take steps toward timely action, aim for the most terrific way to proceed, try more and harder than other do, and treat whatever you do or pursue as yor top priority.
Never make excuses for aiming for less than your best. Rather, understand that it's always your decision, and thus, it's up to you!

Everything New Is NOT Always Better!

With all the new technology and technological advances, many people seem to believe that because it is newer, it must therefore be better, or more enhanced. While that is true when it comes to certain technologies, there are still certain examples when newer is not better. Examples mostly include industries where technology and service are either combined, or need to go hand in hand, such as telephone service and airline travel. While there certainly have been significant technological advances in both of these circumstances, it can be argued that the overall experience has not been improved significantly, if at all. Think about either your relationship with your financial planner or real estate professional. While new things may appear different and cool, what you should really care about is the results it will bring to you! Remember that often it's the person, not the technology that makes the most difference/ impact!
 
1. Once upon a time, we had one telephone company which supplied our telephone equipment, maintained our internal and external wiring, and provided generally reliable service. Those classic black phones may not have been terribly stylish, but few of us even remember one of them not functioning. If we had any difficulty, we made one call to one company, and the problem was soon resolved. Today, land line telephone service is outnumbered by voice over internet services (VOIP), as well as by wireless/ cellular service. Our telephone equipment rarely lasts too many years, and it is next to impossible to find anyone to service it, and it is generally cost prohibitive to repair, so we simply purchase another telephone. It seems to me that there are far more dropped calls today, or some other static, interference, or trouble with our lines. Many people have abandoned land lines completely, depending entirely on their cell phone, but we all have experienced cell phone dead zones at one time or another. Relatively speaking, it is true that this competition and the enhancements has brought about lower pricing, but at what sacrifice. And, have you tried to get through to your telephone provider? How much of our time is wasted simply waiting to be connected with a real human being? With all the sophisticated possibilities and enhancements, have you noticed better customer service, because I have certainly not?

2. In the latter part of the 1970's, the airline industry was deregulated, with the expressed intent of trying to provide more competition, and thus lower pricing for the consumer. While pricing was immediately lowered, have you flown recently? Spirit Air actually charges for carry on bags, while almost all domestic carriers have some sort of fee for checking bags. Meals on a domestic flight, forget about it! Legroom on most carriers is almost non - existent. Customer service seems almost an anachronism! Most disconcerting, perhaps. with all the technology, it actually takes longer on many routes today than it used to.

While technological enhancements are nice, they are not always that essential. Yes, many smart phones have lots of applications, but many of those come at some cost, either for the app itself, the data used, the type of phone needed, etc. And, no matter what cell phone or computer or tablet you have today, chances are it will be either outmoded or run of the mill pretty soon! Let's celebrate technology, but put these advancements into perspective! Let's embrace customer service, and actually getting it done right and effectively/ efficiently!

Is There A Realistic Way to Plan For Retirement?: A Possible Approach/ Plan

Just the other day, I overheard a very involved conversation between a husband and wife, where they were both afraid that they would never be able to afford to retire. The wife was talking about this man who just passed away, at 89, and she said that she marveled at how someone could live that long, and still be able to maintain the apparently nice life style that this gentleman seemed to live. The longer the conversation continued, the more downbeat and depressed this couple appeared, appearing almost to give up on their own future. What can people do to plan to be able to retire and maintain a fairly reasonable life style? While there is no single way to approach this, or proceed, perhaps this way may better lead to a way to proceed in the right direction.

1. Determine how much it costs you to live today, calculating in housing costs (including utilities, etc.), food, health coverage, reasonable amount of entertainment, a vacation or two per year, etc. For each couple, what is included may vary, because for each, the needs and desires may vary.

2. Now use an actuarial table to determine what a fairly average amount of annual inflation will translate that number to, and instead of basing the need on the dollar amount at age 65, calculate the number of years until you turn 75 instead. As a rule of thumb, remember that at three percent (3%) inflation per year, the amount needed will double in approximately 24 years (the "Rule of 72," divide 72 by 3). Therefore, if you feel you need $50,000 per year in today's currency, it would be equivalent to $100,000 in 24 years.

3. Once you determine how much you'll need to live on, now it is time to start figuring out how to get there. Start with your payment from Social Security. Every year, shortly before your birthday, the Social Security Administration sends you an estimate of what your monthly payment would be based on your contributions to date. If you use that number as your estimate, and multiply it by twelve months, it will give you a conservative way to begin. So, let's assume that the number that you are working with from Social Security is $1,500 per month. Twelve times that is $18,000 per year. Therefore, begin by subtracting this $18,000 figure from the inflation adjusted $100,000, and you begin your planning seeking an additional $82,000 per year (or slightly under $7,000 per month). So, how can you save enough money to give you that $82,000 annual income?

4. Do you have a pension? Is it already vested? What is the conservative estimate of what it might be paying you per year? Let's use an estimate of another $1,500 per month or $18,000 for the sake of this example. Subtract that $18,000 and you arrive at an additional need of $64,000.

5. Do you own any property? What is a conservative estimate of its net worth, and calculate only the net worth? Therefore if your home's lowest market value is $700,000 and you presently have a $300,000 mortgage, the net today is $400,000. When will your mortgage be fully paid up? Would you want to remain in this house, or would you want to downsize or move to an area where housing costs are far less expensive. One of the reasons that many retired people move from the Northeast to the Southeast (Florida, South Carolina, etc.) is that the cost of living in those areas is far less? Is that something you would want to do after retirement? If it is, calculate the difference between your net home value and the lower priced home that you would purchase. Always estimate values in a conservative way!

For example, assume that your mortgage remaining at retirement is then $100,000 instead of $400,000, and that housing goes up by the same cost of living figure used above (2-3%). Therefore a $700,000 home may be worth $900,000 in fifteen years, while the mortgage is reduced from $400,000 to $100,000 during that period. Your net value of your home would then be approximately $800,000. Let's assume you decide that you will move to Florida where housing costs dramatically less and buy a house or condominium that is then priced at $400,000 (for this example, using a greater increase in value for the house purchased than the house sold, for it is better to err on the side of being conservative, and ending up with more revenue than anticipated. That difference of $400,000, invested at approximately four percent (4%) would add $16,000 per year more to your income stream. Therefore, you have reduced your further need to $46,000.

6. How old are you? What age will you be retiring? Determine the number of years. Have you been saving up to this point? If so, how much have you put away in reserve? Let's assume that you've put away only $100,000 to date. That invested at 4% would fetch $4,000 more and your annual need has now been reduced to only an additional $42,000. What is the value of your investment portfolio? How is it invested? Depending on your age, consider changing the investment vehicles to more conservative investments which emphasize maintaining principle and conservative growth. For most people, that would create an additional safety net.

7. Let's assume you are fifty and want to retire at 67, when your Social Security is scheduled to kick in. That leaves you seventeen years. Would you be willing to plan to secure your Golden Years, by paying yourself first, when you pay the rest of your bills? Each week, make believe you are making ten percent less, so based on the $50,000 per year, that means think $45,000 instead of $50,000. Therefore, commit that ten percent to a payment to a safe, conservative investment vehicle, and place $100 per week ($5,000 per year) away in an account that you will not touch. In those seventeen years between age 50 and age 67, this strategy will accumulate substantially, and when needed will generate that additional income.

Obviously the earlier you begin your planning the easier it will be. I have based these assumptions using conservative growth, and slow appreciation, with average inflation over that time. Those that want to feel secure in their retirement years must plan ahead, and make the necessary commitments to get it done. Don't wait until you are about to retire, and then look back and complain. Plan ahead and you will retire with a decent lifestyle.