The meeting is set, and there's a lot at stake. You're going to get one chance to effectively communicate the value of your project to the decision-maker. Take advantage of your opportunity by following these tips:
1. Accept the water
If you’re asked at the beginning of the meeting, “Can I get you a glass of water?” say, “Yes. Thank you.” You should always accept hospitality—it warms up the room and gets things off to a good start.
2. Don’t talk business too soon
Most of the time, before you and the buyer “get down to business,” there’s the chance to make some small talk. You may feel like this is a waste of time, but having some small talk is a crucial opportunity, so don’t miss it.
Remember, business is personal. If you want the other person to listen to what you have to say and to contemplate working with you, it is essential that they like you and enjoy being with you. Therefore, take the time at the beginning of every meeting to build rapport.
3. Access thoughts, feelings and experiences
When you are making small talk, use questions to invite the buyer to reveal thoughts, feelings and personal experiences.
• What are your thoughts on _____?
• How do you feel about _____?
• What’s been your experience with _____?
Questions like these have a way of taking the conversation in a more personal (though still professionally appropriate) direction. This builds rapport quickly and effectively.
4. Identify the top priority
Often, buyers will have many priorities, and they may not be clear about what takes precedence. However, you aren’t likely to succeed unless your pitch addresses the buyer’s top priority.
Try using questions to help the buyer identify what’s most important:
• What’s something that has surprised you about _____?
• What’s your biggest obstacle to getting _____ done?
• If you could, what’s one thing you would change about _____?
• What has to happen first in order for you to _____?
Even if you can assist the buyer in many other ways, you must be able to directly address their highest priority need if you want them to say, “Yes.”
5. Avoid PowerPoint
When you begin to pitch, you want the buyer to be focused on you. After all, you are one of the major selling points of your proposal. You want to be able to see the buyer’s non-verbal communication as you pitch. This is important because it allows you to adapt what you’re saying on the fly, e.g., to explain a little more if you see them getting confused or shift gears if you see them getting bored.
Think about this—what do you do when you’re sitting through someone else’s ten or twenty minute PowerPoint presentation? Do you anticipate each new slide with bated breath? Do you eagerly take notes? Or do you check your email and text messages on your PDA? Do you let your mind wander? Do you try to remember one or two salient details so you can ask one decent question when they finish?
If you must do a PowerPoint presentation (and there are situations where it’s required), my suggestion is to spend only a fraction of the time allotted using PowerPoint. Spend the rest of the time presenting in other ways and answering questions.
You should be the presentation. Let PowerPoint sing back-up.
6. Start with silence
Don't start your presentation until the decision-maker is ready. If there have been a lot of people stopping by, phone calls or other interruptions, ask the buyer if he or she is ready for you to begin. Make eye contact. Then, start slowly and deliver your first line. Pause. Gauge the response. Then proceed with your presentation at a relaxed pace.
Remember, you don’t get a second chance to make a first impression, and the same is true for your idea. Starting with silence cues the buyer to focus his or her attention and allows your first line to land with maximum impact.
7. Craft a dynamite lead-off sentence
You’ve paused for a moment. You have the buyer’s undivided attention. You won’t get a better chance to impress them with the value of what you propose than right now—so your first line better be good.
Effective first lines can be a direct statement of what you propose or what the buyer gets if he or she says “Yes.” It can be a provocative question or statistic that grabs the buyer’s attention. However you begin, your first sentence needs to have impact. Write it, test it out loud and rewrite it—your hard work will pay off.
8. Embrace the Question & Answer (Q&A) part of the meeting
Most people would rather do a comprehensive presentation that answers everything in advance so that there’s no need for questions at the end. This is a big mistake.
An extended pitch prevents the natural give and take characteristic of successful meetings. Worse, it indicates that you may be scared of answering the buyer’s questions. Worse still, if you can’t summarize your overall proposal in less than a couple minutes, the buyer will think that you don’t really know your stuff.
The Q&A is where the sale is made. Yes, you must have an intriguing pitch. But if you want to hear the buyer say “Yes” to your idea, you have to satisfy him or her that when you’re asked the tough questions, you have great answers.
9. Leave with time to spare
You know the benefits of arriving on time, but you may not have considered the benefits of getting out ahead of time. Certainly, you should allow the buyer to dictate when the meeting ends. However, it’s smart to schedule 45 minutes for a 30 minute meeting. That way, when the meeting ends, the buyer feels like they’ve been given a gift. They may even have some time to act on your request.
10. Save a surprise for the end
If possible, you want to have a little something saved up for the very end of the meeting so you can transition out on a good note. Some good techniques are to thank the buyer for a specific, useful contribution he or she made during the meeting, make a callback a personal topic that you discussed at the beginning of the meeting, or leave a polished piece of supporting material. Just like in the movies—a little surprise at the end goes a long way to making a great last impression.
Just for reading to the end, here’s a bonus tip!
11. Choose your moment carefully
Most people will take any opportunity to pitch, network or deliver their elevator speech. But you don’t want to be “most people.”
Casual interactions are great ways to build rapport and get to know other people personally. They are rarely the best environment for you to make a presentation or attempt to sell anyone anything. So if a conversation turns to business, a great move is to say something like, "How about if we just enjoy the party, and I'll follow up with you on Monday?”
Your idea is valuable and you only get one chance to introduce it for the first time. In my experience, the best moment is not in a social setting, but in a place where the buyer is prepared to talk business, has their computer available, and is in a position to act on what you propose.
A key part of being “good in a room” is understanding that your idea should be presented to the right person, at the right time and in the right way.
Thanks so much for reading, and good luck in your next high-stakes meeting!
Tuesday, April 22, 2008
Thursday, April 17, 2008
Do Something About Your Credit. Repair Credit Now
After twelve years of credit repair, credit score repair and writing credit repair letters to all sorts of creditors, collection agencies and credit bureaus, I realized that it was necessary to provide my services at a serious discount to consumers in need. I realized that not all consumers could afford my credit repair services. As a result, I created a hotline to answer credit repair and credit score questions. However, I noticed that it was becoming an overwhelming task for my staff and at much expense in order to provide the free credit repair services.
A little over two (2) years ago, a couple of my clients suggested I should write a booklet (20 pages) about credit score, how credit score is calculated, what to look for when calculating credit score, what is the best way to repair credit and some of the main topics of credit repair. They suggested I should provide this ebook for a price of $9.95. I thought about doing so for some time as I was thinking that 20 pages of credit repair ebook would not be enough to even touch the surface on so many subjects that needed to be covered. You see the entire idea of credit repair (credit score repair) or credit repair letter writing is not a simple task that even 50 pages would be enough. However, it was also bothering me to charge $9.95 for some limited number of pages.
Then I realized, I could sit and think and continue contemplating about writing a credit repair - fix credit summary pages until I turn blue, or if I truly want to help consumers with their credit repair and credit score issues, I must take a step and start now. That was two (2) years ago.
As I was writing, in August 2006, I realized, we’ll have a major problems with the mortgage loans being granted so easily due to the unethical practices of mortgage lenders, brokers and direct lenders. You must understand this point. For the past eleven (11) years, I was directly involved in assisting my clients get loans after their credit repair was reasonably completed and their credit score was around 740 or higher. Initially, I was just fixing credit and let them enjoy the luxury of such good credit score. However, after communicating with my clients a couple of months later, I noticed that they were getting rubbed by “mortgage brokers” and the so called “Direct Lenders” or even the loan servicing companies. It was unjust then and it continued to be unjust now. Since this is a separate issue of its own, that I must share it with you and teaches you what to watch-out for, I am going to create a separate article about Creditors, lenders, mortgage brokers and the “direct lenders.”
Let’s stick with issue regarding credit repair.
Most consumers fall in the trap of over extended credit when banks and credit cards companies offer one card or loan after another. The consumers think the best way to get-out-of debt is borrowing more. In other words, “steal from Pete to pay Paul.” This is one of the major misconception consumers have that puts them in a deeper debt and causes even more problems for them to the point that they have credit collapse (beyond credit crunch). They experience receiving a lot of called from collection agencies, having late payments, collections and charge off entries on their credit files (credit reports) and their credit score goes down to 400 or 500 level.
As I was typing my so-called ebook (according to push my clients given), I noticed that the summary book was expanding to over one hundred pages and I was not even touching half the issues. Then I decided to continue and make the book a “credit repair” book called “Your Credit = Your Life, Fix It Now!” Since August 2006 realization that we will have mortgage problems, my only option was to inform as many people as I could either by emailing or calling, I was not able to reach all consumers. However, “Your Credit = Your Life…” book addressed all issues.
Other misconceptions consumers have, is the fact that some of them think, a credit repair is a quick fix. They think, they can just wave a magic wand and their credit score will go up from 495 to 720 or more. That’s not how it works. A true credit repair or improvement in credit score takes time (several months to a couple of years). Don’t be fooled by what you hear as quick “credit repair fix.”
In order for you to do self credit repair which is the best method, your must follow several steps. Those steps are lengthy and require patience. It requires dedication, willpower and application of your own gradual experiences. For the past several years, I have a sign on my office door so that everyone can clearly see. I also have the quote on my business cards, letterhead, books I wrote and talk about it repeatedly. It says, “more is lost by indecision than by bad decision.”
Think about it for a couple of second and then relate these words to what has transpired in your life thus far. Just as I was contemplating to write 20 pages for an ebook and sell it for $9.95, I was thinking of two things:
a. It is not possible to write just 20 pages,
b. I wouldn’t have the heart to sell a summary book for $9.95.
I lost the track of my own quote. “More was being lost be my indecision…” I wanted to help teach others how to fix credit; I hired a staff teaching them the credit repair concepts, but wasn’t grabbing my keyboard to type what was in my heart and mind. As my clients were pushing me, I was lost in my indecision.
Most consumers do exactly the same as I did for a couple of months. Think with yourself. How many times were you planning to do something and you kept contemplating if you should do what was in your mind or suggested to you? I bet you did that a few times. I bet part of your problem was the same as mine. Where do I start? How do I approach it? What would be my next step? And, a long list of other questions. You know something. Unless you take the first step, you wouldn’t know what the next step is. Unless you set your goal, mind and heart to take an action, it will never happen. You will contemplate and continue in your indecision yet time passes you by and all you do get deeper and deeper in debt, pay more for simple loans, get drowned in debt to a point that you will take your credit or financial anger on your loved ones. ALL BECAUSE YOU DID NOT MAKE YOUR DECISION IN DOING SOMETHING TO TURN YOUR LIFE AROUND.
My dear friend, stop feeling sorry. Here, I am pushing you to do something. Make a decision and do something about it NOW. It is never a bad idea to have a better credit so that you could have a better life and save more money. It took me several months to prepare the book that offers all you need to know about your credit. Believe me, I have seen so many credit reports that yours would not be half as bad as what I’ve seen. There is hope for everyone, especially you. You only become hopeless when you don’t get up, shack off feeling sorry and do something to turn your credit life around.
Please let it be now. Here are a few steps in what you can do.
1. Get copies of your credit reports. You must obtain recent copies for all three (3) credit bureaus. One credit report won’t do. Why? Different creditors and collection agencies report to different credit bureaus. See the book.
2. Compare each entry shown on your credit reports with the account statements you have. Whether it is an open account, closed account, a collection, a charge off or late payment account. You don’t know how many times, I seen credit reports where the consumer did not have any such account and it was creditor or credit bureaus mistakes. Read the book.
3. When you notice inconsistencies (whether it is an account you don’t recognize or misinformation about an account), call creditors and credit bureaus. Discuss, dispute and be persistent.
4. Ask for a conclusion, removal or correction letter.
5. Do NOT settle with collection agencies. If you do or have no other choice, you must do two things, settle for less or don’t pay unless they correct the entry by removing it.
6. Do not trust a collection agent. They do NOT mean well.
There are so many things to talk about and so many techniques to offer. It is impossible to discuss all in this article. So, I ask you to do something useful and quick to improve your credit score, which is as a result of your steps in your credit repair. You don’t know how good it will do for you.
For a complete details of the list above and other topics use the knowledge base provided at www.MasterCreditRepair.net and pick up a copy of the book “Your Credit = Your Life, Fix It now!” I promise, visiting the website will worth every moment and/or penny and spent.
A little over two (2) years ago, a couple of my clients suggested I should write a booklet (20 pages) about credit score, how credit score is calculated, what to look for when calculating credit score, what is the best way to repair credit and some of the main topics of credit repair. They suggested I should provide this ebook for a price of $9.95. I thought about doing so for some time as I was thinking that 20 pages of credit repair ebook would not be enough to even touch the surface on so many subjects that needed to be covered. You see the entire idea of credit repair (credit score repair) or credit repair letter writing is not a simple task that even 50 pages would be enough. However, it was also bothering me to charge $9.95 for some limited number of pages.
Then I realized, I could sit and think and continue contemplating about writing a credit repair - fix credit summary pages until I turn blue, or if I truly want to help consumers with their credit repair and credit score issues, I must take a step and start now. That was two (2) years ago.
As I was writing, in August 2006, I realized, we’ll have a major problems with the mortgage loans being granted so easily due to the unethical practices of mortgage lenders, brokers and direct lenders. You must understand this point. For the past eleven (11) years, I was directly involved in assisting my clients get loans after their credit repair was reasonably completed and their credit score was around 740 or higher. Initially, I was just fixing credit and let them enjoy the luxury of such good credit score. However, after communicating with my clients a couple of months later, I noticed that they were getting rubbed by “mortgage brokers” and the so called “Direct Lenders” or even the loan servicing companies. It was unjust then and it continued to be unjust now. Since this is a separate issue of its own, that I must share it with you and teaches you what to watch-out for, I am going to create a separate article about Creditors, lenders, mortgage brokers and the “direct lenders.”
Let’s stick with issue regarding credit repair.
Most consumers fall in the trap of over extended credit when banks and credit cards companies offer one card or loan after another. The consumers think the best way to get-out-of debt is borrowing more. In other words, “steal from Pete to pay Paul.” This is one of the major misconception consumers have that puts them in a deeper debt and causes even more problems for them to the point that they have credit collapse (beyond credit crunch). They experience receiving a lot of called from collection agencies, having late payments, collections and charge off entries on their credit files (credit reports) and their credit score goes down to 400 or 500 level.
As I was typing my so-called ebook (according to push my clients given), I noticed that the summary book was expanding to over one hundred pages and I was not even touching half the issues. Then I decided to continue and make the book a “credit repair” book called “Your Credit = Your Life, Fix It Now!” Since August 2006 realization that we will have mortgage problems, my only option was to inform as many people as I could either by emailing or calling, I was not able to reach all consumers. However, “Your Credit = Your Life…” book addressed all issues.
Other misconceptions consumers have, is the fact that some of them think, a credit repair is a quick fix. They think, they can just wave a magic wand and their credit score will go up from 495 to 720 or more. That’s not how it works. A true credit repair or improvement in credit score takes time (several months to a couple of years). Don’t be fooled by what you hear as quick “credit repair fix.”
In order for you to do self credit repair which is the best method, your must follow several steps. Those steps are lengthy and require patience. It requires dedication, willpower and application of your own gradual experiences. For the past several years, I have a sign on my office door so that everyone can clearly see. I also have the quote on my business cards, letterhead, books I wrote and talk about it repeatedly. It says, “more is lost by indecision than by bad decision.”
Think about it for a couple of second and then relate these words to what has transpired in your life thus far. Just as I was contemplating to write 20 pages for an ebook and sell it for $9.95, I was thinking of two things:
a. It is not possible to write just 20 pages,
b. I wouldn’t have the heart to sell a summary book for $9.95.
I lost the track of my own quote. “More was being lost be my indecision…” I wanted to help teach others how to fix credit; I hired a staff teaching them the credit repair concepts, but wasn’t grabbing my keyboard to type what was in my heart and mind. As my clients were pushing me, I was lost in my indecision.
Most consumers do exactly the same as I did for a couple of months. Think with yourself. How many times were you planning to do something and you kept contemplating if you should do what was in your mind or suggested to you? I bet you did that a few times. I bet part of your problem was the same as mine. Where do I start? How do I approach it? What would be my next step? And, a long list of other questions. You know something. Unless you take the first step, you wouldn’t know what the next step is. Unless you set your goal, mind and heart to take an action, it will never happen. You will contemplate and continue in your indecision yet time passes you by and all you do get deeper and deeper in debt, pay more for simple loans, get drowned in debt to a point that you will take your credit or financial anger on your loved ones. ALL BECAUSE YOU DID NOT MAKE YOUR DECISION IN DOING SOMETHING TO TURN YOUR LIFE AROUND.
My dear friend, stop feeling sorry. Here, I am pushing you to do something. Make a decision and do something about it NOW. It is never a bad idea to have a better credit so that you could have a better life and save more money. It took me several months to prepare the book that offers all you need to know about your credit. Believe me, I have seen so many credit reports that yours would not be half as bad as what I’ve seen. There is hope for everyone, especially you. You only become hopeless when you don’t get up, shack off feeling sorry and do something to turn your credit life around.
Please let it be now. Here are a few steps in what you can do.
1. Get copies of your credit reports. You must obtain recent copies for all three (3) credit bureaus. One credit report won’t do. Why? Different creditors and collection agencies report to different credit bureaus. See the book.
2. Compare each entry shown on your credit reports with the account statements you have. Whether it is an open account, closed account, a collection, a charge off or late payment account. You don’t know how many times, I seen credit reports where the consumer did not have any such account and it was creditor or credit bureaus mistakes. Read the book.
3. When you notice inconsistencies (whether it is an account you don’t recognize or misinformation about an account), call creditors and credit bureaus. Discuss, dispute and be persistent.
4. Ask for a conclusion, removal or correction letter.
5. Do NOT settle with collection agencies. If you do or have no other choice, you must do two things, settle for less or don’t pay unless they correct the entry by removing it.
6. Do not trust a collection agent. They do NOT mean well.
There are so many things to talk about and so many techniques to offer. It is impossible to discuss all in this article. So, I ask you to do something useful and quick to improve your credit score, which is as a result of your steps in your credit repair. You don’t know how good it will do for you.
For a complete details of the list above and other topics use the knowledge base provided at www.MasterCreditRepair.net and pick up a copy of the book “Your Credit = Your Life, Fix It now!” I promise, visiting the website will worth every moment and/or penny and spent.
Sunday, April 13, 2008
Striving For A Debt Free Life
For many people, living a debt-free life is just a dream. There's no chance that they will be able to reach such a place. The problem with this idea is that it is a failure to understand what it takes to attain a debt-free life. Often, it comes down to a lack of sound strategies for addressing the problem and achieving results. So many Americans are under tremendous debt loads, living literally from paycheck to paycheck. It seems like nothing more than a pipe dream to those who don't have a vision or a goal in mind. With proper planning, living debt-free is very possible. You first have to decide that it is something that you really want and make a commitment to strive for the prize.
The first question you might ask may be, "Where do we begin?" If you want to know how to start your quest for a debt-free life, it helps to have some idea about what not to do. Often the first mistake that people make is to try to do everything at once. They attempt make huge, sweeping changes to their spending and saving habits or just paying down all of their debts in a haphazard fashion. This approach is totally unrealistic when you consider how complex financial debt concerns can be. If you are just starting out, the better way is to take small, incremental steps on the road. Examine your circumstances, determine what sort of planning is required, set goals, and begin to make smaller changes over time. Most importantly, once you decide what you are doing, you need to stick with it and persevere; this is the only way to see results.
As was stated briefly above, establishing goals and completing them is paramount to the goal of living debt-free. Look at your goal setting in terms of a monthly time frame. What sort of goal do you set for this month? Perhaps, it is establishing a budget on what you spend at the grocery store and keeping to it. Maybe, it is about paying a certain amount above the minimum balance on your credit card. Continue to set these types of goals and continue to implement them in the months ahead. Establishing these types of goals will help you to develop better money management skills and possibly discern the differences between good spending and wasteful spending.
Another area that must be dealt with in no uncertain terms involves all of those small, seemingly insignificant expenditures that can add up over time. If you want to achieve a debt-free life, you need to streamline your spending habits. This category of spending includes eating out, catching a movie in the theater, buying an expensive outfit, etc. Decide for yourself that you will make the effort to learn about the virtue of frugality. If you can live cheap, even below your means, you will be able to pay more on that debt load so that you will achieve freedom from the weight of debt that much faster.
It was said earlier, and it should be said again. Resist the temptation to spend needlessly. Keep your goal in mind and keep striving towards it. The best way to get something that you want is to plan for it. Rather than racking up more credit card debt, delay that gratification long enough to save the money and pay for it outright.
It will take work. But, it is very possible to attain a debt-free life. Get started now—and don't give up!
The first question you might ask may be, "Where do we begin?" If you want to know how to start your quest for a debt-free life, it helps to have some idea about what not to do. Often the first mistake that people make is to try to do everything at once. They attempt make huge, sweeping changes to their spending and saving habits or just paying down all of their debts in a haphazard fashion. This approach is totally unrealistic when you consider how complex financial debt concerns can be. If you are just starting out, the better way is to take small, incremental steps on the road. Examine your circumstances, determine what sort of planning is required, set goals, and begin to make smaller changes over time. Most importantly, once you decide what you are doing, you need to stick with it and persevere; this is the only way to see results.
As was stated briefly above, establishing goals and completing them is paramount to the goal of living debt-free. Look at your goal setting in terms of a monthly time frame. What sort of goal do you set for this month? Perhaps, it is establishing a budget on what you spend at the grocery store and keeping to it. Maybe, it is about paying a certain amount above the minimum balance on your credit card. Continue to set these types of goals and continue to implement them in the months ahead. Establishing these types of goals will help you to develop better money management skills and possibly discern the differences between good spending and wasteful spending.
Another area that must be dealt with in no uncertain terms involves all of those small, seemingly insignificant expenditures that can add up over time. If you want to achieve a debt-free life, you need to streamline your spending habits. This category of spending includes eating out, catching a movie in the theater, buying an expensive outfit, etc. Decide for yourself that you will make the effort to learn about the virtue of frugality. If you can live cheap, even below your means, you will be able to pay more on that debt load so that you will achieve freedom from the weight of debt that much faster.
It was said earlier, and it should be said again. Resist the temptation to spend needlessly. Keep your goal in mind and keep striving towards it. The best way to get something that you want is to plan for it. Rather than racking up more credit card debt, delay that gratification long enough to save the money and pay for it outright.
It will take work. But, it is very possible to attain a debt-free life. Get started now—and don't give up!
Thursday, April 10, 2008
Common Online Banking Features
Online banking is a fairly established practice in our internet-saturated world. Many people are making use of the unique and convenient options that online banking services provide. Yet, if you are a bit behind the times, but still considering the idea of upgrading your current banking practices, internet banking may be the right move. But what if you don't know a thing about online banking? Perhaps, you've thought about being hooked up to a bank's web service, but wasn't sure that the service would be worth the trouble. Or, maybe, it was more about not knowing what sorts of banking features you would be able to access.
Now, obviously, one of the most recognized features is accessibility. Online banking offers you, the customer, 24-hour access to you account, barring any designated website downtimes that may be scheduled. Beyond accessibility, you have portability. Most of the time, you can be on any computer anywhere and access your financial account and do your necessary business, at no charge!
To facilitate online use, most banks that offer online banking provide a host of high quality, technological solutions that make your banking experience easy and fast. Most online banking systems offer the same common features, with only a few exceptions, and most of these services are given to customers free of charge.
Some of the common online banking features and services include:
You can view a summary of your account and transaction history
You can view or print your account statements and balances
Set up online payments and direct deposit services
You may be able to reorder checks for your account via the web
Some services allow you to export your account histories to third-party accounting software
You can transfer funds from one account to another or make deposits
Other accounts and services like CDs, IRAs, and others can be managed from the online account
These, again, are but just some of the common features that many online banking services provide their customers. Another category of features very closely associated with online banking is those that deal with information security. These types of features are constantly evolving to deal with the changes in the web and the potential risks that are involved with conducting sensitive financial business on the network.
Information and identity theft are both very unfortunate realities made more serious by the volume of business conducted across the internet every day. People are exchanging personal financial and identity information all the time, and all of this is a part of regular business affairs. With online banking, the need for sound security measures becomes obvious.
Elements of online security features include computer firewall protections, user ID and password authentication combined with code encryption, limitations on number of times that passwords and user names may be entered before they are locked out, measures like TANs (or transaction numbers), and more recently, security tokens, and digital certificates.
The fact remains that online banking is not going anywhere and with the numbers of banks and credit unions offering these types of services, there will be plenty of competition to stimulate the development of new and better features.
Now, obviously, one of the most recognized features is accessibility. Online banking offers you, the customer, 24-hour access to you account, barring any designated website downtimes that may be scheduled. Beyond accessibility, you have portability. Most of the time, you can be on any computer anywhere and access your financial account and do your necessary business, at no charge!
To facilitate online use, most banks that offer online banking provide a host of high quality, technological solutions that make your banking experience easy and fast. Most online banking systems offer the same common features, with only a few exceptions, and most of these services are given to customers free of charge.
Some of the common online banking features and services include:
You can view a summary of your account and transaction history
You can view or print your account statements and balances
Set up online payments and direct deposit services
You may be able to reorder checks for your account via the web
Some services allow you to export your account histories to third-party accounting software
You can transfer funds from one account to another or make deposits
Other accounts and services like CDs, IRAs, and others can be managed from the online account
These, again, are but just some of the common features that many online banking services provide their customers. Another category of features very closely associated with online banking is those that deal with information security. These types of features are constantly evolving to deal with the changes in the web and the potential risks that are involved with conducting sensitive financial business on the network.
Information and identity theft are both very unfortunate realities made more serious by the volume of business conducted across the internet every day. People are exchanging personal financial and identity information all the time, and all of this is a part of regular business affairs. With online banking, the need for sound security measures becomes obvious.
Elements of online security features include computer firewall protections, user ID and password authentication combined with code encryption, limitations on number of times that passwords and user names may be entered before they are locked out, measures like TANs (or transaction numbers), and more recently, security tokens, and digital certificates.
The fact remains that online banking is not going anywhere and with the numbers of banks and credit unions offering these types of services, there will be plenty of competition to stimulate the development of new and better features.
Monday, April 7, 2008
How To Get Mortgage Referrals From Business Networking Groups As A Loan Officer
We all know that referrals are considered the “holy grail” of the mortgage business. They’re an easy sell, and customers are less likely to shop around. But, the reason why most loan originators don’t get a lot of referrals is that they don’t know how to cultivate them. It takes time and an ongoing commitment to building relationships.
If you’re just starting out or don’t have a large base of past customers to draw from, consider joining a business networking group. They’re a great place to mingle with business professionals from other industries, especially if you work from home. And, everyone is there for one reason—to help each other generate referrals. It’s a win-win situation!
Keep in mind that most business groups have strict rules on attendance and meet early (usually between 7-8:00AM) before the day has started. And usually only one person from each profession is allowed to join the group. Unfortunately, there’s only one loan officer position, and I must tell you that these spots go fast and are rarely given up! Ouch! With 30+ people giving you business on an ongoing basis, you can see how powerful this can be!
Here are some business networking organizations to investigate. Call or visit their website to locate a chapter near you. They are:
Business Networking International (BNI)
199 South Monte Vista Avenue
Suite 6
San Dimas, CA 91773
Tel. 1-800-825-8286
http://www.bni.com
Leads Club
P.O. Box 279
Carlsbad, CA 92018
Tel. 1-800-783-3761
http://www.leadsclub.com
Here are two other business organizations to consider. Although, not formally “business networking groups”, both offer a chance to meet other professionals and cultivate relationships. Oftentimes, they have a “breakfast club” which is very similar to the business networking groups mentioned above. Give these two fine organizations a try:
Chamber of Commerce
1615 H Street, NW
Washington, DC 20062
Tel. 1-202-659-6000
http://www.uschamber.com
Rotary International
One Rotary Center
1560 Sherman Avenue
Evanston, IL 60201
Tel. 1-847-866-3000
http://www.rotary.org
One thing to be aware of, is that if the local chapter of the business group you are looking to join is already full, consider starting a chapter of your own. That way, you’ll be guaranteed the open loan officer spot. Believe me, I know, because it was the only way I could get in!
Best of luck in your business.
If you’re just starting out or don’t have a large base of past customers to draw from, consider joining a business networking group. They’re a great place to mingle with business professionals from other industries, especially if you work from home. And, everyone is there for one reason—to help each other generate referrals. It’s a win-win situation!
Keep in mind that most business groups have strict rules on attendance and meet early (usually between 7-8:00AM) before the day has started. And usually only one person from each profession is allowed to join the group. Unfortunately, there’s only one loan officer position, and I must tell you that these spots go fast and are rarely given up! Ouch! With 30+ people giving you business on an ongoing basis, you can see how powerful this can be!
Here are some business networking organizations to investigate. Call or visit their website to locate a chapter near you. They are:
Business Networking International (BNI)
199 South Monte Vista Avenue
Suite 6
San Dimas, CA 91773
Tel. 1-800-825-8286
http://www.bni.com
Leads Club
P.O. Box 279
Carlsbad, CA 92018
Tel. 1-800-783-3761
http://www.leadsclub.com
Here are two other business organizations to consider. Although, not formally “business networking groups”, both offer a chance to meet other professionals and cultivate relationships. Oftentimes, they have a “breakfast club” which is very similar to the business networking groups mentioned above. Give these two fine organizations a try:
Chamber of Commerce
1615 H Street, NW
Washington, DC 20062
Tel. 1-202-659-6000
http://www.uschamber.com
Rotary International
One Rotary Center
1560 Sherman Avenue
Evanston, IL 60201
Tel. 1-847-866-3000
http://www.rotary.org
One thing to be aware of, is that if the local chapter of the business group you are looking to join is already full, consider starting a chapter of your own. That way, you’ll be guaranteed the open loan officer spot. Believe me, I know, because it was the only way I could get in!
Best of luck in your business.
Friday, April 4, 2008
The True Cost Of Economic Freedom
The following story was shared with me recently, it’s been circulating around the net for years and I now share it with you.
In the United States of America lies a large industrial city which is the sight of one of the world's largest slave labor camps.
Located in and around the center of this city are community settlements where the economic slaves live.
Each morning the slaves move in herds like cattle from their small quarters into the slave labor camps. They cram into tiny buses and trains, trend through snow, sleet and inclimate weather. Not because they want to, but because they have to.
Each economic slave is at his or her station by 9:00 AM. Here they report to their master for the day's duties. And here they remain chained until 5:00 PM or even later until they're released to go home.
The slaves have no choice as to how many hours they must labor. Sometimes they are required to work overtime until their master tells them they may leave and go home.
The master can even lie to the economic slave and make up rules and new job duties that weren’t covered before, and the slave has no choice but to adhere to the new rules or risk losing their slave job.
Each year the slaves are told when to take their vacations, for how long, and when they must return. But the master never likes “vacations”, so even though the slave has the time, they rarely use it.
If a family member gets sick and needs help, well the slave can’t be there to help them, they must check-in with the master first. And the master’s answer is never a good one.
Economic slaves have little choice as to how much money they earn as they are paid not what they are worth, but what the job is worth. If they die or can’t do the job anymore, they will quickly be replaced with another slave to fill the position. Soon they will be forgotten and it will be as if they had never even existed in the first place.
If the economic slave’s job becomes obsolete or inefficient, it can easily be replaced with a machine. And machines don’t talk back or need promotions. They do what they’re told.
Slaves are allowed very little time for lunch and coffee breaks during the labor hours. Sometimes they don’t get a break, or are forced to eat lunch at their desk. Sometimes when they are forced to work late, they don’t even get a hot meal, they skip dinner and even go hungry.
The slaves will remain in their chains in great fear because the economic master can punish them with the "firing" or "layoff" whip. And he is not afraid to use it, so the slaves bow to his command. They do whatever he wants.
It is said that even some of the older slaves who have been good and faithful have felt the sting of the whip. They disappear quickly and are never heard from again. Soon, they are forgotten too.
Day by day, year-by-year, the slaves toil and grow older until the master decides it is time to release them to the retirement camps where they're forced to sit idle and wait for death. The master has used them for all he can, and now it is time to move onto another economic slave to fill the position.
It's a well-known fact that the old slaves who try to keep working are sometimes whipped with a "stop-their-pension" whip. They are quickly let-go and without all the benefits they were promised. The slaves waited their whole career for the promise of a pension that never came. The master simply strung them along. He dangled the carrot and the slave bought it.
I know these money slave camps exist for I once was an economic slave. But now I am a free man who lives among the self achievers. I make my own rules. The reason I am free is because I am in business for myself. I am not an economic slave and my only master is myself. I decide my destiny.
Yes, I am truly free. I arise in the morning called for by my schedule.
I decide my own hours. I can even sleep in late while my former economic slave friends are at work.
I can vacation when, where, and for how long I please. If I want to take a day or two off, I can. And no one will complain.
I'm free to take my coffee break and lunch when I decide. I do not have to ask anyone for permission.
And of course, I can decide my own paycheck and how much money I earn, because I am not an economic slave anymore. If I want to earn more, I simply work more.
I can choose to work when, how and where I please. I can even choose the type of clients I work with. And if a customer becomes too unreasonable or demands too much, I can increase my fees or simply “fire” them. I do not have to give my services away. I work for myself.
I'm free to stay in the city for as long as I want, or to move on to greener pastures if I decide to. I choose where I want to live and for how long. I am not trapped by the economic slave master anymore because I do not fear “losing” my job.
I've seen many slaves sadly pack their belongings to leave their city in search of a new master at another company, but it is always the same. The masters tend to lie a lot, but the economic slaves simply believe everything. It isn’t until they’ve been with the master a while that the truth is revealed. But, then it is too late. They are trapped!
There is however, a ray of hope for the lonely economic slave. He or she can “buy” their own freedom.
The cost is not high, yet it seems high to those who do not have the courage to pay the price.
What is the price of true freedom?
ONE MUST BE WILLING TO BE THEIR OWN ECONOMIC MASTER.
In the United States of America lies a large industrial city which is the sight of one of the world's largest slave labor camps.
Located in and around the center of this city are community settlements where the economic slaves live.
Each morning the slaves move in herds like cattle from their small quarters into the slave labor camps. They cram into tiny buses and trains, trend through snow, sleet and inclimate weather. Not because they want to, but because they have to.
Each economic slave is at his or her station by 9:00 AM. Here they report to their master for the day's duties. And here they remain chained until 5:00 PM or even later until they're released to go home.
The slaves have no choice as to how many hours they must labor. Sometimes they are required to work overtime until their master tells them they may leave and go home.
The master can even lie to the economic slave and make up rules and new job duties that weren’t covered before, and the slave has no choice but to adhere to the new rules or risk losing their slave job.
Each year the slaves are told when to take their vacations, for how long, and when they must return. But the master never likes “vacations”, so even though the slave has the time, they rarely use it.
If a family member gets sick and needs help, well the slave can’t be there to help them, they must check-in with the master first. And the master’s answer is never a good one.
Economic slaves have little choice as to how much money they earn as they are paid not what they are worth, but what the job is worth. If they die or can’t do the job anymore, they will quickly be replaced with another slave to fill the position. Soon they will be forgotten and it will be as if they had never even existed in the first place.
If the economic slave’s job becomes obsolete or inefficient, it can easily be replaced with a machine. And machines don’t talk back or need promotions. They do what they’re told.
Slaves are allowed very little time for lunch and coffee breaks during the labor hours. Sometimes they don’t get a break, or are forced to eat lunch at their desk. Sometimes when they are forced to work late, they don’t even get a hot meal, they skip dinner and even go hungry.
The slaves will remain in their chains in great fear because the economic master can punish them with the "firing" or "layoff" whip. And he is not afraid to use it, so the slaves bow to his command. They do whatever he wants.
It is said that even some of the older slaves who have been good and faithful have felt the sting of the whip. They disappear quickly and are never heard from again. Soon, they are forgotten too.
Day by day, year-by-year, the slaves toil and grow older until the master decides it is time to release them to the retirement camps where they're forced to sit idle and wait for death. The master has used them for all he can, and now it is time to move onto another economic slave to fill the position.
It's a well-known fact that the old slaves who try to keep working are sometimes whipped with a "stop-their-pension" whip. They are quickly let-go and without all the benefits they were promised. The slaves waited their whole career for the promise of a pension that never came. The master simply strung them along. He dangled the carrot and the slave bought it.
I know these money slave camps exist for I once was an economic slave. But now I am a free man who lives among the self achievers. I make my own rules. The reason I am free is because I am in business for myself. I am not an economic slave and my only master is myself. I decide my destiny.
Yes, I am truly free. I arise in the morning called for by my schedule.
I decide my own hours. I can even sleep in late while my former economic slave friends are at work.
I can vacation when, where, and for how long I please. If I want to take a day or two off, I can. And no one will complain.
I'm free to take my coffee break and lunch when I decide. I do not have to ask anyone for permission.
And of course, I can decide my own paycheck and how much money I earn, because I am not an economic slave anymore. If I want to earn more, I simply work more.
I can choose to work when, how and where I please. I can even choose the type of clients I work with. And if a customer becomes too unreasonable or demands too much, I can increase my fees or simply “fire” them. I do not have to give my services away. I work for myself.
I'm free to stay in the city for as long as I want, or to move on to greener pastures if I decide to. I choose where I want to live and for how long. I am not trapped by the economic slave master anymore because I do not fear “losing” my job.
I've seen many slaves sadly pack their belongings to leave their city in search of a new master at another company, but it is always the same. The masters tend to lie a lot, but the economic slaves simply believe everything. It isn’t until they’ve been with the master a while that the truth is revealed. But, then it is too late. They are trapped!
There is however, a ray of hope for the lonely economic slave. He or she can “buy” their own freedom.
The cost is not high, yet it seems high to those who do not have the courage to pay the price.
What is the price of true freedom?
ONE MUST BE WILLING TO BE THEIR OWN ECONOMIC MASTER.
Tuesday, April 1, 2008
Expect Hiccups As A Loan Officer On Every Mortgage Loan When Trying To Finance Properties
No matter how successful you are, or how many loans you have closed, you should expect hiccups. No loan every goes as smoothly as you think it will. And with all the third parties involved on any one transaction, you can and WILL have problems.
Here are some of the most common “hiccups”. I thought of about the top 30 I have been hit with.
If you want to get more loans to the table faster and earn more money, I strongly advise you at least have a look at my mortgage system and give it a try.
Hiccups which you may encounter include:
1. The borrower not being clear on what exactly he is “buying”. Or not fully committed.
2. The borrower not being clear on what the loan process entails.
3. Not getting all the proper documentation from the borrower upfront.
4. The borrower’s spouse isn’t fully “sold” on the benefits of the transaction and doesn’t want to go through with it.
5. The borrower is still shopping your “rate”, even though you are well into the process (this is a BIG one!!!!!!).
6. Not getting returned phone calls from the borrower, or even from third parties involved in the transaction (such as appraisers, underwriters, lawyers, etc.)
7. Real estate agents and others who foul-up the process by playing sides, sometimes even making you look like the “bad guy” just to win points!!!!
8. Not being clear about whether or not the customer is escrowing just the taxes, insurance, or both!
9. Not being clear about the amount of money which will be needed to be escrowed per order of the bank.
10. If refinancing, not being clear that the payoff amount will be slightly different than what the borrower’s balance says, (having to deal with pre-paid interest and mortgage payments done in arrears).
11. Finding out about secondary liens on the property or open HELOCS, too late in the process.
12. Borrowers continue to spend, open accounts, and move finances around.
13. Property does not come in appraised high enough.
14. Appraisal comparable properties are too old for the underwriter.
15. Not watching your rate-lock expiration date.
16. Not properly pricing the loan-out in the beginning, and ending-up “eating” most of your profits by trying to “save-face” with the borrower.
17. Repairs or remodeling that are currently being done on the property (underwriters will slam you for this!!!).
18. Finding out about financial skeletons in the borrowers past which weren’t disclosed upfront, such as child support payments, wage garnishments, liens, other open debt (not showing on credit report), etc.
19. Borrower forgets to make mortgage payments or other loan payments during your loan transaction.
20. On purchase transactions, when selling one property and buying another one, first original property is having problems with the sale, thus holding your transaction hostage.
21. Borrowers go on vacation or are not available to sign within the 30-45 day window of the transaction.
22. Not being able to get a booking date with the lender.
23. Underwriter keeps conditioning you for the same things or variations of the same things over and over again.
24. Mortgage payments have accidentally been “double-debted” on the 1003 application, throwing their ratios out of whack.
25. HELOC subordination letter is holding-up the process, secondary lien holder refusing to cooperate.
26. Not submitting proper paperwork to the borrower, bank, or other third party. Not taking a full and complete application at the beginning. Numbers are off, etc. (Small mistakes can have a HUGE impact at the closing table). Always double-check your work before sending it out.
27. Lawyer adds-in extra fees to the HUD at the last minute which the borrower isn’t aware of.
28. Your YSP/commission on the loan is incorrect on the HUD statement. (Once the loan closes you can’t change this!!!! So be very careful!).
29. Final pay-off numbers come in incorrect. Borrower has direct-debiting on his account and a mortgage payment or other loan payment has been made during the loan process. (You need to be aware of this and keep it in mind).
30. Borrowers get lost, change their mind, pull-out, or just simply fail to show-up at the closing. (Just think of all the hard work you put in to get them there. Believe me, it happens!!!!!)
Any one of the above, can make your loan a living nightmare. These are just a few that I have encountered over the years. I’m sure you no doubt will encounter the same. Experience is the best teacher of all. Learning from my experience will save you time, headaches and make you more money.
Don’t risk your $2,000-$3,000 commission check. Invest in my system and get that loan closed!!! You will make back many hundreds of times the cost and even save your sanity! Lol. ;-)
Here are some of the most common “hiccups”. I thought of about the top 30 I have been hit with.
If you want to get more loans to the table faster and earn more money, I strongly advise you at least have a look at my mortgage system and give it a try.
Hiccups which you may encounter include:
1. The borrower not being clear on what exactly he is “buying”. Or not fully committed.
2. The borrower not being clear on what the loan process entails.
3. Not getting all the proper documentation from the borrower upfront.
4. The borrower’s spouse isn’t fully “sold” on the benefits of the transaction and doesn’t want to go through with it.
5. The borrower is still shopping your “rate”, even though you are well into the process (this is a BIG one!!!!!!).
6. Not getting returned phone calls from the borrower, or even from third parties involved in the transaction (such as appraisers, underwriters, lawyers, etc.)
7. Real estate agents and others who foul-up the process by playing sides, sometimes even making you look like the “bad guy” just to win points!!!!
8. Not being clear about whether or not the customer is escrowing just the taxes, insurance, or both!
9. Not being clear about the amount of money which will be needed to be escrowed per order of the bank.
10. If refinancing, not being clear that the payoff amount will be slightly different than what the borrower’s balance says, (having to deal with pre-paid interest and mortgage payments done in arrears).
11. Finding out about secondary liens on the property or open HELOCS, too late in the process.
12. Borrowers continue to spend, open accounts, and move finances around.
13. Property does not come in appraised high enough.
14. Appraisal comparable properties are too old for the underwriter.
15. Not watching your rate-lock expiration date.
16. Not properly pricing the loan-out in the beginning, and ending-up “eating” most of your profits by trying to “save-face” with the borrower.
17. Repairs or remodeling that are currently being done on the property (underwriters will slam you for this!!!).
18. Finding out about financial skeletons in the borrowers past which weren’t disclosed upfront, such as child support payments, wage garnishments, liens, other open debt (not showing on credit report), etc.
19. Borrower forgets to make mortgage payments or other loan payments during your loan transaction.
20. On purchase transactions, when selling one property and buying another one, first original property is having problems with the sale, thus holding your transaction hostage.
21. Borrowers go on vacation or are not available to sign within the 30-45 day window of the transaction.
22. Not being able to get a booking date with the lender.
23. Underwriter keeps conditioning you for the same things or variations of the same things over and over again.
24. Mortgage payments have accidentally been “double-debted” on the 1003 application, throwing their ratios out of whack.
25. HELOC subordination letter is holding-up the process, secondary lien holder refusing to cooperate.
26. Not submitting proper paperwork to the borrower, bank, or other third party. Not taking a full and complete application at the beginning. Numbers are off, etc. (Small mistakes can have a HUGE impact at the closing table). Always double-check your work before sending it out.
27. Lawyer adds-in extra fees to the HUD at the last minute which the borrower isn’t aware of.
28. Your YSP/commission on the loan is incorrect on the HUD statement. (Once the loan closes you can’t change this!!!! So be very careful!).
29. Final pay-off numbers come in incorrect. Borrower has direct-debiting on his account and a mortgage payment or other loan payment has been made during the loan process. (You need to be aware of this and keep it in mind).
30. Borrowers get lost, change their mind, pull-out, or just simply fail to show-up at the closing. (Just think of all the hard work you put in to get them there. Believe me, it happens!!!!!)
Any one of the above, can make your loan a living nightmare. These are just a few that I have encountered over the years. I’m sure you no doubt will encounter the same. Experience is the best teacher of all. Learning from my experience will save you time, headaches and make you more money.
Don’t risk your $2,000-$3,000 commission check. Invest in my system and get that loan closed!!! You will make back many hundreds of times the cost and even save your sanity! Lol. ;-)
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