Category Archives: organizing

Growing personal and in your business needs a plan

We all have heard the saying ā€œwhen it is not written down it is not going to happenā€ or the other ā€œ make a plan, write down the plan and execute the planā€ but how many of us are sometimes shooting from the ā€œhipā€ and shoot at an unidentified target and miss.

Some of the plan for any company should also be company grows through personal and income. All of this should have a plan that is clear and well laid out with a certain goal in mind.

For instance a home based business could have the goal of moving into an office space within 5 years.

Here is the goal and now you need to put the action steps into place to achieve the goal. Ā You might have to identify coaches, mentors, or advisors you need to consult to achieve your goal. Make sure everything is written down and easy accessible to yourself for a frequent check on how you are doing.

You might have a partner who checks on you to find out if you are still on track or if you have strayed from your path.

Part of the goal should be also the internal grows of your internal sales force and I found that the article by Chris Simone titled 5 tips to building an inside sales force gave great Ideas as a recruiter or business owner on how to tackle the sales force growth.

I always said thatĀ any grows is a team sport and there is no ā€œIā€ in Team and have written about this in a blog post called “TEAMWORK…a lost art?”

Control what you can control

An article about 9 things that will trash your home value from Mandi Woodruff came across my desk. Some of the things they listed where loud neighbors, foreclosure in the neighborhood and hoarders. This made me think, not only about the housing market but also about running a business.

What could be the things that will trash your business?

My first thought goes immediately towards the total loss of information and documentation due to a natural disaster like fire, flood, or storm. Or possible more manmade disasters like power outage, back-up failure, you name it.

There is also the possible personal accident or medical emergency that could keep you from tending to your business when you don’t have plan B in place.

Some other internal business wreckers for some business could be the improper disposal of chemicals or cleaners or employees who are not quite as honest Ā and maybe taking a switch here , a gallon of paint there or eating an unauthorized free meal here or giving their friends a free lunch there.

The other thing that comes to mind is not keeping up with changes or keeping up with continues education and changes in technology or becoming just plain complacent and set in the personal way of doing things.

Some of the things we can control in in some way but there will be some things we have absolute no control over and we just need to take the bull by the horn and deal with them or ignore them when appropriate.

FHFA Streamlined Modification Initiative

FHFA announced just recently the new Streamlined Modification Initiative for Borrowers and Servicers to benefit from a more simplified program to the borrower and servicer.

The New Streamlined Modification Initiative Borrowers is an additional option for borrowers who are in trouble with their mortgage in addition to the modifications options their servicer’s offers to them.

This FHFA program is offered by Fannie Mae and Freddie Mac and runs from July the 1st 2013 and expired on August 1, 2015 and is a program that is available to homeowners whose loan is guaranteed by either Fannie Mea or Freddie Mac. Their mortgage must be a first-lien mortgage with either Fannie Mea or Freddie Mac and needs to be at least 12 months old with a loan-to-value ratio equal to or greater than 80 percent.

Borrowers who are between 90 days to 24 months delinquent starting July 1st will receive a Streamlined Modification Solicitation Offer from their servicer and when the borrower agrees to the terms of the offer they do not have to Streamlined Modification Solicitation Offer but will need to make trial period payments on time.

Borrower should still work with their servicer to possible pursue the full range of modification options available to them like the HAMP program ever prior to being later more than 90 days.

Not all Cities are great for Small business

Thanks to the 6 + inch snow outside I have some time to catch up on reading. Last week I found and saved a article written by Laurie Kulikowski called ā€œBest Cities for Small Businessesā€ and found that not every cities is created equally and supports small business owners especially women business owners.

Some of the few Cities mentioned in the article who are supportive of small business owners are San Antonio CA, Des Moines IA, Miami FL, Kansas City KS, and Atlanta GA.

Other cities have been very slow in reacting to the changing business field and have mainly been focusing to attract large employers and businesses to their market. Many cities are not willing to invest into their future by investing and updating their infrastructure to attacked small businesses into their town. For any small business to move into the areas they need the support.

Support from the local government is needed by providing the basic infrastructure for the business to attract qualified personal during work and play, with a well-connected transit system, over all great connectivity, parks and family friendly recreation areas.

Also the support from local already established businesses are needed as well.

Many cities and their businesses have many opportunities who are more male oriented and very seldom female. The attitude that ā€œshe ā€œis just doing this because ā€œsheā€ is a bored ā€œhousewifeā€ is still alive and well established throughout the country.

The attitude’s is slowly changing and it has taken years to get to this point.

Sure we have National Association of Women Business Owners (NAWBO) , American Business Women’s Association and the SBA (Small Business Administration) who is focused on women. Have you noticed that most of them have groups and meetings only in the larger cities of each state? You don’t hear much about them and you have to know they exist. Some cities offer networking evens for women but you have to be in the know or know someone who is in the know to find out about any meeting that is geared to women business owners or women who are interested in opening up their own business.

Meghan Casserly, with Forbes pointed out in her article called ā€œWhy Women’s Networking Groups Failā€ that when the network is balance of resources, information and good intentions to make a network not just functional, but beneficial to all members you have a good network. When one of the parts is missing you have just a great conversational group that meets for coffee.

Planning for the next stage

Just had an interesting article called ā€œWhen I Hire You, I’m Hiring Your Mentors’ Judgmentā€ written by Adam Bryant and he interviewed Ilene Gordon, CEO of Ingredion for this article come over my desk and it hit home.

Standing at the crossroads I can see that I have to tackle what I do with a team and see it as a project and count on that Plan A might fall through and Plan B, C or D needs to be in place and to have someone I could lean on and consult with when the Plans are falling apart.

Needless to say I don’t have my team in place and that is the first thing I need to get back into place. A team I can consult with and who knows me better than I do. What I already have is a potential target list of companies I am considering to contact to work with as an independent contractor.

I can see now that I have put the cart in front of the horses. I need to get my horses into place first.

That hard part will be….who to ask and where to start….

Looking in my tickle file of articles I have kept over the years I came across and article written by John Warrillow titled ā€œHow to Pick a Mentor: Take a Cue From Steve Jobs and Eric Schmidtā€ that gave me some great tips.

Here comes the challenge to find the individuals who do or have done successfully what I would like to do in the future.

Are you prepared for the unexpected?

 

Had a moment the other morning to watch the news and low and behold they had a flash mob wedding because it was Valentines. In short for the once who don’t know what the flash mob wedding is. The wedding is about an hour after the proposal.

Immediately my thoughts when to how prepared would I be when I would have the unexpected sprung on me.

My mind wondered over to the subject personal or business property or information loss.

Sure I carry insurance for both personal and business and I have all of the information backed-up triple times to prevent information loss but what else do I have missing? Do I truly know what I own and what items I have in my house?

Is the emergency plan for personal and businesses good enough or did I miss some important information? Do I have this information stored in a secure place and who will have access?

Thinking about all of this could drive you crazy.

This reminds me about the ā€œAre you ready for a disaster?ā€ Blog post and I am not sure if I truly took my own advice. I maybe should take the advice of Cindy Hartman with Hartman Inventory, LLC she posted in her ā€Be prepared for the next cat!’ Blog or from FEMA as they have outlined in their ā€œAre you ready?ā€ guide.

Mother Nature may be forgiving this year, or next year, but eventually she’s going to come around and whack you. You’ve got to be prepared. ā€œGeraldo Riveraā€

Too much information

 

Have you ever attended meetings, seminars, webinars where the presenter just kept on talking and talking and talking about the same topic but tried to explain it in different ways over and over again?

Just recently I was in such meeting.

A question was asked and it could have been answered with a short, sweet and to the point but the presenter choose to user up to 10 minutes to answer this simple question. I am sure the presenter felt great about being able to fill the room with all the information he knew about the topic but I am sure that most of the room was lost after 2 minutes.

I need to admit I am the last person to give meeting advice but even I was off to another dimension to occupy my time and to wait out the long winded present to move to the next topic.

Lighthouse Consulting had a great article on how to keep a meeting on track called Six Tips for Holding Successful Meetings with Staff Members. I think this could easily be translated into any type of meeting. I also found a great meeting article from the Norwood Business Portal called Tips on Holding Online Meetings.

No matter if you have a face to face meeting or a online webinar you need to keep your audience engaged and interested and some questions just need to be answered in person or with a personal phone call.

Don’t be long winded with any topic or when answering a question.

Andrew Jackson said it best:

Take time to deliberate; but when the time for action arrives, stop thinking and go in. – Andrew Jackson –

Hello REALTORS…where are you…

 

….came to mind as I was looking for REALTORS in a certain area of the US.

 

It has been interesting to say the least.

 

I am one of the people who does not give up that easy when it comes to finding someone for areas but what is with the potential client who will give up after a while or a few tries.

 

Just for giggles I did a small study of the area I am looking to hire an agent in for investment properties and found out some interesting stats.

 

  • 60% of the active practicing real estate agents in this area are part of the Local and National Association of REALOTRS
  • The local Association has no website.
  • 70% of the REALTORS Brokerage firms have a website
  • less than 3% of the local REALTORS are members of the local Chamber of Commerce or otherwise active in their community.
  • 1% of the REALTORS in this area have a web address in their own name and 99% of them have their website redirected to the company website who they work for and do not have their own website.
  • 95% of the websites do not have a clear to identify office location/address without having to click on several links to find the info
  • 80% of the REALTORS in this area do not have a company email they advertise the free email providers like AOL, GOOGLE, MSN…..
  • 1% of them will return phone calls and emails.

 

This is just a few things I found.

 

I am not a marketing person but common scene tells me when I am a Real Estate Entrepreneur I need to been one thought and through and my future clients need to find me on the web.

 

Here are some basic tips;

 

  • Have an email address with your own web address or with the company you work for. Don’t advertise google, aol or the others free services unless they pay you.
  • Have a website and a place on the web in your own name and don’t redirect it to the company you work for. Just have a link to them.
  • Return all phone calls and emails within less than 48 hours
  • Get active and involved within your community through the Chamber of Commerce and not only through your local church, find another non for profit you can volunteer for.
  • When you are not a REALTOR make sure you have a website and it can be found quickly and easily
  • Make social media and blogging part of your routine.

I have the REO training but why do I not receive REO listings?

This question is asked every day, or posted online.

I am working with orders from servicers and agents thought out the country every day and I can see why REO servicers do not call on certain agents or brokerage firms.

It has absolutely nothing to do with who they like and who is the most popular or bestselling Agent in the area. It has all to do with timely communication, knowledge about your listing inventory and their current status, and timely completion of task timelines given by the REO servicers to the agents or their brokerage firms.

Many REO servicers already have a clear idea about an individual agent and brokerage firm before they even call on them to list their REO portfolio.

Many of the agents are completing BPO’s, are part of Homeowner outreach programs or other services for third party companies.

Guess what??? Ā All the orders the agents are working on coming from the servicers who also have REO’s to give to agents.

When you are late and not meeting the timelines on the orders that you were Ā give, or not communicating with the third party companies, it is communicated to the servicers with the agents name and brokerage information when an order is submitted to that servicer.

With that a picture of the work and communication habit of each and every agent is created. This info can be accessed and viewed by a servicer who might is looking for an REO listing agent.

Bottom line is……

…be on time

..Communicate timely

…do this on a consistent base, every day…no matter what. No amount of REO training will give you a listing when that is not done.

Can your client count on you?

…..how many times have you told your client that you will have something to them by a certain date and you did not deliver?

…..how many times did you promise to call back by a certain date and you did not make the call?

……how often did you set time for a F2F meeting and you where late, even for 5 minutes?

…… how often did you miss a deadline, even less than a day?

…..how often do you read your emails only to be told that no one can email you because your inbox is full and no longer can accept emails?

….how often do you miss listening and clearing your phone voice mails only to be told that on one can leave a message because your voice mail box tells the caller your voice mail box is full and no longer can accept messages?

Sounds familiar?…..No……are you sure?

None of us are perfect……..a few will accept the opportunity that is given to them, tell on themselves and strive to make changes and adjustments.

Ā Where to start?

….recognize you overextended yourself and notify early. Don’t have it called out on you

….don’t make excuses. Own up to it.