Difficult Is NOT Impossible!!

Quite often, many things in life may be difficult. However, the real measure of whether someone will succeed or fail is how he handles adversity and difficulty, and how his attitude gets him to act. Many people merely give up when faced with adversity, and use the difficulty as some sort of "crutch," by convincing themselves that it is so difficult that any type of modification or change would be impossible. Potential clients and customers of real estate and financial professionals should examine the individual they select to serve them, based on many factors, but one of the most important is whether the individual can remain calm and cool, and seek solutions, or use challenges as excuses for failure! Beware of anyone who seems to overuse the word, "Problem"!
 
Individuals with this type of defeatist attitude are often little more than their own worst enemies. The reality is that if one gives up, there is rarely any true chance of succeeding. For example, in sports, almost anyone will slump at one time or another. However, the athlete that accepts his slump as a trend that cannot be corrected, permits the slump to become his regular behavior, and his athletic career often takes an irreversible downward permanent turn. This athlete permits a negative attitude to pervade his personality and behavior, and often loses the self- confidence necessary to be successful in his sport. On the other hand, the athlete who accepts his slump as a temporary anomaly, and understands the statistics of sports, does not permit slumps to mar his self- confidence. Instead, this type of athlete flourishes because his attitude is that every failure brings him closest to a victory, etc.

The importance of not permitting adversity to defeat one is even more evident in business and organizational leadership. A strong leader sees adversity as a message that better planning and implementation is needed, and in the case of a "slump" period in an organization (that is, a period when the organization has encountered less than stellar results in membership retention and growth, as well as in revenue), realizes that it is necessary to begin to "think outside the box" to evolve the organization as a more relevant, action- orientated organization. As with the athlete who permits difficulties to destroy his career, leaders of organizations who permit obstacles to cause a pervasive form of negativity and defeatism into the organization, can also cause irreversible damage to the sustainability of the organization itself.

I have often written and lectured about a condition I refer to as "stinkin' thinkin.'" This is really all about the phenomena of the dangers of negative thinking. As life is not static, but rather evolving, it is important to handle obstacles and difficulties properly and productivity. Every adversity has the potential of teaching someone something that can be an important lesson for the rest of one's life. Difficulties can either be problems or challenges. The individual that sees and treats difficulties as challenges becomes stronger, while the individual who sees these difficulties as problems that cannot be overcome or handled, becomes defeated by the difficulties, and gets little accomplished. Which individual would you rather know? Which type would you want to lead your organization? Which would you want to represent you in a negotiation (e.g. real estate)? Which type of individual are you?

The Basics of Closing Any Sale!

Whether one is in business for himself or works for someone else, or whether someone works for a business or a non profit organization, or whether one is a laborer or works in a profession, everyone sells. We either sell a product, a service, or ourselves. Many individuals like to visualize that they are "above selling," and that they simply perform a valuable service. However, the reality is that regardless of what one does, chances are someone else does either the same thing, something similar, or some other alternative. Therefore, after more than three decades of training people from all walks in life about the basics of salesmanship, I am completely convinced that everyone needs to understand the basics of selling.

Many years ago when I worked in the financial services, the top representative had a sign and a cartoon hanging above his desk in his office that read, "Selling is like shaving. If you don't do it every day, you're a bum." Obviously, an individual selling investments and being paid on commission fully understands the importance of "closing" a sale. Yet, it is my assertion, that we should all learn from this example. I have observed many individuals who could give great presentations, but rarely got the exceptional results that one might anticipate based on the presentation. The basic reason was generally that they did not ask for the sale.

You may be thinking that this doesn't relate to you, because you don't sell! Well, you do! Whether it involves a personal situation, or a work - related one, how you proceed dramatically impacts your life. For example, everyone thinks of the real estate or financial professional as the salesperson, but, you, as either customer or client, must sell that individual on what's important to you, and determine, for yourself, which individual best serves your essential needs and priorities. It is significant and important to realize that the entire process must begin with a commitment to absolute integrity, in every aspect of your life and activities!
 
If one merely presents an idea, without ending with a call to action, there is very little chance that there will be any decision made by the individual being presented to. Human nature is that most people will not volunteer making a decision, unless a decision is actually requested. That means that after a sales presentation, someone must end by saying something like, "In light of what I just said, doesn't it make sense to..?"

While it is fairly obvious how this relates to the actual formal selling of a product, many overlook how this equally relevant in other situations. For example, if a dentist feels that a particular treatment plan is in the best interests of a patient, and that one particular treatment is superior to other alternatives, if all he does is present it, chances are that the patient will not fully appreciate the sentiments. However, on the other hand, if this practitioner then says, for example, "I have presented the various alternative treatment plans. Do you understand them?" It is essential at this point that the dentist wait and say nothing further until he gets a positive response, indicating understanding by the patient, as well as assuring that the patient is actually both listening and paying attention. Once he gets that positive response, the dentist might proceed as follows, "While there are various possible ways to approach this issue, I strongly feel that Alternative A is the best for you because.. " After explaining why, the dentist, should continue, "In light of this, doesn't it make sense for us to begin this treatment? Doesn't it?" Again, the dentist must wait for a response. Once there is an affirmative response, there should be a discussion of fees, payment plan alternatives, and then scheduling both appointments and agreeing to which plan the patient decides upon. Please understand that this is the optimal selling situation because the seller (the dentist) is "selling" what is in the patient's best interest, and bringing forth action by the patient. This is known as "win-win" sales.

Every situation, be it in business, or when a leader of an organization feels strongly about a course of action, the presenter (seller) must motivate the listener to important action. Please understand that there will be no action without "closing" the sale- that is, asking for a specific action, and waiting for and receiving definite agreement. Just as there are specific steps in giving the presentation, there are specific steps in closing the sale. Without the "close" being performed adequately and thoroughly, there will rarely be a "sale." Thinking of selling and sales as a compelling call to action.

When Life Hands Out Lemons, Wise Men Make Lemonade!

We all experience periods of bad times as well as periods of good. Individuals who adapt to misfortunes by learning from these experiences, and somehow benefiting, are generally both the happiest and the most successful. The adage, "Life is not a bowl of cherries" tells us that not everything will always work out the way we hope, or even anticipate, and to understand that limitation in order to best adapt to circumstances. Understand that there are always tests along one's way, and it's how we handle these, that generally determines our end - result! Ask any real estate professional if everything always proceeds as smoothly as one would hope, even when the finest planning is performed. Those that remain flexible enough to adapt to changing circumstances or conditions, keep the procedure grounded and their client's experience a far less stressful one.
 
Many people seem to enjoy complaining that life is unfair, and hasn't dealt them a fair hand. Realistically, life doesn't "deal," it simply offers us opportunities to either take advantage of, do nothing, or use poorly. There is never any guarantee in anything we do, but our "odds" of succeeding are distinctly enhanced when we take advantage of possibilities, improve our abilities, and upgrade our skill-set, rather than say, "I can't do that." Many individuals seem to prefer making excuses than taking the necessary actions to enhance skills that might be lacking (or need upgrading).

Obviously, not everyone can do writing or mathematics easily. All too many of those individuals, either due to frustration, inadequate training or education, or a "mental block," simply give up, and stop attempting to write or use mathematics, unless absolutely necessary. Others recognize their limitations, and use the opportunities offered to enhance their training, learn other skills, take training, or discipline themselves, and do to this added commitment, become "above par" in these areas.

A great example of using ones limitations, and "making lemonade when life deals you lemons," is how one might adapt to difficulty "keyboarding." Unfortunately, many, if not most individuals, handle this "obstacle" by using "avoidance techniques," and by avoiding using the keyboard, often neglect necessary tasks and duties, such as doing school or work assignments, as well as enjoying activities that comfort with using the keyboard would afford them. The individual who wants to "make lemonade," on the other hand, would find an alternative way of handling this circumstance. One such alternative might be installing and using "voice recognition software, such as Dragon 10, Siri, etc.  In that way, the obstacle of the use of the keyboard, whether due to a physical reason, a lack of patience, or some other disruptive "force," can not only be as productive as someone comfortable with the keyboard, but in many ways even more productive. This program permits one to use e-mail, word processing, PowerPoint, spreadsheets, etc., via the use of voice commands, instead of keyboards. The programs are easy to install, and easy to use, yet, of course require the individual to become familiar with the many features to fully take advantage of the program. For example, it is estimated that someone can "type" something approximately four times as quickly using voice commands than using the keyboard. Therefore, the individual who takes advantage of this alternative is using a potential obstacle, and instead of merely complaining about it, finds "another way" to function effectively.

In many areas of everyday life, we find tons of obstacles where we have choices - - either complain and be negative, or "think outside the box" and find a better way. Successful individuals do not give up, but rather find ways to get things done. Most things are possible if one thinks positively!

Today's Crazy Consumer Credit Rating System

Around 2008 - 2010, because of all the trouble and financial difficulties experienced by so many American financial institutions, especially banks, the Federal Government " bailed out" the banks, but created a completely different set of rules and restrictions that banks and lending institutions had to abide by. These rules attempted to control how banks charge interest on credit cards, while trying to free up monies by pumping dollars into the ailing system. Like many good intentions, especially when politicians tweak the plan to get it approved and then delay implementation, most credit card issuers had sufficient time to figure out how they could abide by the new restrictions that were supposed to protect consumers, while "ripping off" many consumers in other ways, to maximize their institutional profits. On the banking side, this has resulted in the elimination of certain fees that were previously charged, while making it back on other items. Some of these include record low interest paid on interest bearing accounts, while gradually and continuously moving interest rates charged on loans and credit cards up. In addition, most of the larger financial institutions, instead of using the influx of capital to free up loans, etc., which was the supposed intent, instead stiffened appraisal requirements on mortgages given, and demanded higher credit scores to qualify for the best rates, or in some cases, any loans at all. While there have been certain tweaks, our Credit Rating system is often quite misleading, and while certain things disproportionately might bring down one's credit number, others do not have as large an impact! Today, one needs a rating of approximately 750 or better, in many cases, to get the best rates, and in some cases, to even qualify for credit. That number is generally considered excellent, from about 660 - 750 is consider good (or OK), about 625 is satisfactory/ fair, and those with lower credit ratings often find it challenging to buy a car, qualify for any loan, etc.

In addition, while this was occurring, most of the credit card issuers took the opportunity to reduce many credit lines across the board. Since, in the complicated way that credit scores are calculated, a major factor is the ratio of credit card account balances in relationship to credit lines, with a lower percentage being preferable and securing a better score. Therefore, let's assume that an individual had five credit card accounts, each with, for example, a five thousand dollar line of credit ($5,000). That would mean that the total on these five accounts would be twenty five thousand dollars ($25,000). Hypothetically, let's assume that each account had one thousand dollars as a balance ($1,000) or a total of five thousand dollars ($5,000) balance. This would mean that the individual had used twenty percent (20%) of the available balance, an amount that would ordinarily be deemed as a good ratio, and would contribute to a better score. Now, let's assume that these five accounts all had there credit limits reduced in this across the board move to three thousand ($3,000), or now that the total credit limit would be fifteen thousand ($15,000) instead of the prior $25,000. Now, understand that since this was an across-the-board move, it was often unrelated to an individual's credit worthiness, but the ratio of credit used to credit limit would now be raised from 20% to 33.33%. Obviously, this higher ratio would have a detrimental impact on credit ratings, and in many cases, resulted in a reduction in an individual's credit score. Then, to further complicate the issue, many banks send out "lower interest rate" offers (for a limited time), which then entices someone to "borrow" more, which then triggers an even lower credit rating, and often then triggers a further reduction in one's credit limit, which then creates a "domino" effect, of further lowering one's credit rating.

Many individuals who pay their bills on time, and whose financial circumstances have not changed dramatically, have thus witnessed their credit ratings dropping during this period. To make matters worse, many banks then require higher than previous credit ratings to secure "best rate" loans. Obviously, what the politicians thought would help consumers, has in many ways had the opposite impact.

Why Selling & Marketing Is BOTH An Art and a Science?

 As I have trained many others in a variety of fields, including selling and marketing, training, management, leadership, negotiations, and many other areas since then, I have always incorporated the themes of everything in life being some sort of sales, and that effective selling is both an art and a science. With that in mind, an important caveat for those seeking either the best real estate or financial professional (or any other service - related pro) for THEM, experience is certainly important, but focus more on the individual's ideas, plans and willingness to customize the marketing/ sales/ planning approach to your personal needs, rather than merely proceeding in a one - size -fits - all way!
 
Why do I call selling both an art and a science? A science is something rather precise, and proper sales technique is extremely regimented. The best salespeople use the same proven technique each and every time they give a presentation. Of course, after a while, it seems like it is second nature to them, but it is still a very exact, precise, thought-out and proven methodology.

On the other hand, two individuals can follow the same basic "scientific" technique, and achieve vastly different results. That is why I am stating that selling is also an art. The most effective salespeople relate well to others, and understand human nature. Many of the top salesmen of all time have stated that selling is only a small percentage technical, while being predominantly understanding human nature.

The most effective salespeople are friendly, without being phony, and professional without being starchy and stuffy. Effective selling requires a sales person to do his homework to understand the needs of the individual he is selling to, and tailoring his presentation to address the other party's "hot button." The "hot button" is that set of circumstances, wording, and motivation that gets the other individual's attention, and motivates them to action.

Few people are actually born salespeople. While some people are more extroverted than others, and some feel more comfortable in a sales situation, these behaviors can be trained and made part of anyone desiring to become a more effective salesperson.

Motivated individuals learn the techniques, practice them, and make them part of their own persona. I have trained individuals who began as the shyest, least articulate and outgoing individuals, and developed them into professional, talented and successful sales professionals.

Once someone learns all the techniques, and then combines those "sciences" with the "art" of understanding human nature, he can and will be an elite sales professional. That is, as long as he does it every day!

Main Components of a Quality Business Plan

One of the major challenges facing any entrepreneur is understanding all the various nuances involved in preparing to, and actually opening a new business. In discussions with many graduating college students, as well as many professionals (physicians, dentists, etc.), I have often been told that while the individual feels completely (or mostly) prepared with the "academic" and technical subject matter, they feel inadequate when it comes to the business aspects themselves. One of the major omissions seems to be a lack of familiarity with the basic components of a business plan, and how to use these. Consider also, the need for this skill and mindset, as it relates to performing as a successful independent contractor, such as a real estate or financial planning professional. How well each individual is organized and/ or prepared, often determines the ultimate success, and this is important, not only to the realtor or financial planner, but also to their potential client, etc.
 
1. The first question one must ask, before even beginning to create a business plan, is what is the owner's "vision" for the business (or practice). What does the individual want from his business that might differentiate it from the "pack?"

2. One of the most challenging items to many novices seems to be the ability to identify costs, particularly startup costs and reserves. What if the business takes longer to open than anticipated (for example, awaiting permits, licenses, etc)? What if the revenue flow is lower than expectations? One of the biggest identifiable errors, and the overwhelmingly biggest cause for the demise of new businesses, is being under- capitalized. Businesses with insufficient reserves cannot pursue many effective strategies, and often resort to disastrous or at least disadvantageous crisis management instead of forward looking planning. Those involved in commissions - based industries or endeavors, must factor in how long things take to close, and be prepared for the early, lower cash flow phases of any business.

3. Part of a business plan must include in- depth financials. This information must include forecasts for revenues (which should be done with at least three different scenarios; optimum, average, and below average. The listing and analysis for revenue must include a discussion of why these revenues are anticipated, and how these numbers are devised. Next, a complete list of expenditures must be included. These expenditures must include start- up costs (including renovations, equipment, tools, labor, licenses, inspections, etc.), an in- depth marketing plan including a timetable and all expenditures related, fixed expenses such as rent, taxes, fees, salaries, benefits, shipping (if applicable), etc. Start- up business plans should include a starting take home salary for the owner, because if the owner is not compensated from the onset, many delay taking a salary (which causes undue stress and pressure, often creating burnout scenario).

4. A thorough, comprehensive marketing plan, with particular emphasis on the first three months, six months and one year must be developed as part of this plan. These expenses must be planned for and considered part of the start up plan, at least for this preliminary period. Many businesses make the mistake of saying they will market, but because they are under- capitalized, fail to expend sufficient funds to this endeavor. Invariably, if there is any type of financial shortfall, the marketing is often the victim, which then also adversely impacts revenues, etc. Abandoning marketing is generally short- sighted. So is over - advertising or entirely focusing on one type of vehicle (for example, while Social Media is important/ essential, it must not be the sole way one markets).

In over three decades of counseling start up businesses and practices, I have come to the conclusion that one of the major faults of many educational programs is not academic, but instead an insufficient emphasis on needed and necessary business basics. I urge colleges, universities, etc. to reconsider, and include more business related information, so that their students are better prepared for the real world.

How To Use Social Media to Enhance Your Personal Brand, Without Neglecting Other Necessities/ Approaches

Regardless of what type of work you might to, or what endeavor you participate in, anyone wishing to stand out from others in a significant and/ or meaningful manner, needs to point out to others the ways that distinguish himself from the crowd. It takes a combination of objective introspection combined with a commitment to contemplating why others would benefit by selecting you! The most effective and impactful individuals take these things into consideration: 1. What is your message, and what is the message you wish to give? Know your message and your desired niche; 2. Understanding how social media can be effectively used in combination with other methods; and, 3. Realize that different generations analyze matters, communicate and operate differently, and that there are significant differences in many cases between those belonging to the Baby Boomers, Gen - X, and Mellenials Generations.

1. Social media can either be an effective and important component of marketing and branding yourself, or it can be all - encompassing and utilize far too much of your time and energies. The first step must be analyzing, identifying and determining precisely what message you wish to transmit, and how each component should become a portion of creating and enhancing your personal brand. What differentiates you? Why should others select you and decide to choose you to do business or have relations with? Think about this question, and break down your message to the length of an elevator speech, by fully yet succinctly motivating others to care about your message and methodologies, as well as your unique approach!

2. Using social media does not, and must not, mean abandoning other more conventional means of communication. Social media is always more effective and meaningful when a well considered strategy is used that synergistically links the social media message to the message transmitted via other media, including printed and oral/ verbal communication.

3. It is important to understand and distinguish the generations known as Baby Boomers, Gen - X, and Mellenials. Baby Boomers are those born between 1945 and 1960, Gen - X between 1961 and 1980, and the Mellenials between 1981 and 2000. While these ranges are absolute, because of environmental, social and experience differences, the reality is that different age groups often process information differently, as well as have differing comfort zones. Baby Boomers, while often adapting to technology, still often prefer telephone and face - to - face communication as their primary or go - to method. They often seek to develop relationships, as well as to be somewhat social justice - oriented, while generally believing in the need for mutual respect and courtesy (such as responding to questions and communications, committing to appointments and being on time, etc. Gen - Xers often tend to be more concerned about themselves and their immediate social group, often preferring less personal forms of communicating, and use texts more than they like phone calls. Their exposure differed significantly from either of the other two generations in many areas. Mellenials never experienced a time when there was no color television, personal computers, video games, air conditioning, etc. Many believe this generation is often the most narcissistic of the three, and tend to prefer to digest things in capsule form rather than in depth, often seeming to believe that there is no necessity to reply, unless it is personally essential to them.

Only when we adapt our message to the needs of all three of these generations do we fully brand ourselves in a significant manner. Social media, used to its fullest and correctly, can significantly and positively effect this process. However, the caveat must be to enhance your Social Media presence and performance, but maintain your traditional approaches, including other media, traditional mail, and face - to - face, etc.