Archive for March, 2010

The Change In Mortgage Rules Not Being Talked About

Saturday, March 13th, 2010

With all the focus and media attention given recently to changes in the mortgage rules, one very important change went virtually unnoticed and this change will have a significant impact on self employed mortgage applicants. Effective April 9, 2010 the loop hole that allowed the self employed to purchase property based on “stated” income versus “proven” income is essentially closed, with limited exceptions. The “stated” income product used for qualifying purposes was widely used, given the propensity for the self employed to show minimum personal income for tax purposes. The self employed will now need traditional third party validation of income.

This change along with those previously mentioned in my blog, How Do The New Mortgage Rules Affect You? www.casbmanagementgroup.com/blog will have a substantial impact on the local real estate market. Fewer individuals eligible to qualify for mortgages will result in a softening real estate market.

We welcome your comments.

Could You Be A Genius?

Thursday, March 4th, 2010

 

 

Genius level thinking is not reserved only for highly mentally gifted. Geniuses have a system for how to work through problems, which they may or may not be conscious of. Once you learn the system, you can use it to solve problems the way geniuses do. The difference between them and you is that they’ve simply used their system longer than you have. Once you gain some practice with it, internalize it, and begin to use it automatically, the people in your life will see you as a genius to.

Here are the 7 steps to genius level problems solving.

1. Identification

In most cases, we tend to think that the symptoms of a problem are the problem itself. We then set off to address the symptom. After our time and effort has been spent, the symptom has been temporarily eliminated. Since we did not solve the root cause of the problem, the symptoms will return again and again.

Geniuses spend a large portion of their problem solving time in identifying the true problem. They understand that a problem can be resolved once and for all if they can identify its causes. When the root causes of a problem are found, all of the symptoms of that problem also vanish. It’s the equivalent of killing 10 birds with one stone.

2. Mindset

When we have a “big” problem in our lives, we sometimes become overwhelmed by it. We see it as insurmountable. We don’t believe we can get passed it and it becomes a major source of stress and worry. Geniuses believe that all problems are temporary and solvable. Think about a major problem in your life 3 years ago. Remember your mindset at that time? You didn’t know how you would ever get passed that situation. Yet, here you are 3 years later. As you look back to 3 years ago, you realize that the problem that was gigantic then is either greatly reduced or not a problem at all today.

Geniuses start with that perspective in mind. They know that it’s usually not as bad as it seems today. Also, they don’t waste their time thinking about aspects of the problem that they cannot change. They know that a major part of any problem is their thoughts about it. So, if they can’t change a circumstance contributing to a problem, they focus on the aspects of the problem they can change.

3. Vision

We typically direct our minds toward what we should do as the first step towards solving a problem. Then, we focus on the next step, and then the next. Eventually, we may hit an obstacle that makes the solution path we were following ineffective. So, we try again with a new first step, and another, and another to see where that leads. This can often result in frustration, lack of faith in how things are going, and the creation of brand new problems while trying to solve the current one.

Geniuses make their first step visualizing the end state. They focus on a vision of the true problem and all of its components and symptoms solved. By doing this, they begin to understand how it will feel once the problems are solved, and they receive clues from that vision as to the correct solution path.

4. Brainstorm

When someone begins to think of solutions to a problem, they tend to think about problems in their past and how they solved them. Sometimes there are great clues there. Other times, the current problem is unique enough to require a fresh perspective. Also, fixing the real problem may require a multi-layered solution verses a standard one-action reaction.

Geniuses brainstorm. They will sit down and think through dozens of solutions. Even the solutions that at first glance they may think won’t work are viable solutions for them at this stage. Even when they think they’ve found solutions that are perfect, they keep going. They come up with as many solutions as they think they can, and then squeak out a few more until they have 20 – 30 possibilities. Then the magic happens. Combinations of those possibilities jump out to sometimes form brand new solutions to completely solve the problem. You switch from pulling solutions from your memory and begin creating new possibilities. This is the stuff of genius level thinking!

5. Plan

Most of us never plan our solutions out. We keep throwing stuff at our problems until something sticks, we go with it, and we hope for the best.

Geniuses plan. Armed with the vision of the end state, and a solution or a group of solutions, they create a plan to implement those solutions. They determine what they need, help they need to request from others, the timeline it needs to be done within, and they move forward.

6. Act

Procrastination, perfectionism, and denial are the enemies of action. When we know there is something major we must do, many of us all of a sudden find 10 other things that we think we need to do right now. We spend the time on things that can wait and ignore the major problem we could resolve right now. Also, we often stop our own progress because we don’t think we have everything perfect. We’d rather not act and wait until we have everything perfectly laid out than to begin making strides towards resolution.

Geniuses act. They act now, they act swiftly, and they act with confidence. It’s not that they know all of the answers. They are confident in knowing that they will make mistakes and learn from them along the way. They don’t allow the perfect to be the enemy of the good, as Barrack Obama often says. When the time comes to act, they do so.

7. Adjust

There are some folks that are going to do what they want to do, even when they know their plan has a flaw. Rather than change course along the way when necessary, they move forward as if their plan was written in concrete and they have no other options.

Geniuses monitor their progress against the end state vision they have in their mind and adjust course along the way to ensure they fulfill that vision. They understand that as they proceed along their plan, they learn more, get smarter and need to make adjustments here or there if they are going to succeed. They are committed to their end state vision. They understand that their plan is a means towards that end.

Observe the results you are getting, project your thoughts forward to see if you are on track towards your end state vision, and adjust your plan as needed. No plan is perfect, and all plans need fine tuning as you move further down the solution path. Adjusting the plan here are there doesn’t mean the plan was bad. It’s a natural part of the process that should be embraced if there is a need to succeed.

These seven simple steps will aid in solving any problem you come across. Practice using this system and you can become a genius-level thinker.

We are seeking genius-level thinkers to become part of our real estate team. We welcome your comments.

 Excerpts taken from a James LeGrand article.

 

Credit Cards – An Effective Way To Fund Your Business?

Wednesday, March 3rd, 2010

 

How do you finance your business growth?  

Many entrepreneurs running small and medium sized businesses have found that corporate and personal credit cards can be a viable financing tool. They provide the purchasing power for a small business as it finances the gap between selling their products or services and getting paid for them.

Corporate credit cards invariably have higher spending limits than personal credit cards. While this seems to be a good thing, corporate credit card users should note that some card issuers report their corporate credit activity together with their personal activity, thus distorting their personal credit picture. Looking at their personal credit picture might lead one to think that as an individual they are grossly over-extended — not good for the individual or their business. There is a misconception that registering a corporation somehow limits this business liability, but in most start up situations and for new businesses, a personal guarantee will be required on a corporate card. If the business is registered as a sole proprietorship, the owner and business are one and the same as a legal entity, so this will be reflected in a joint credit report.

Another potential credit card ‘trap’ is that it becomes too easy to use the card and run up what quickly becomes permanent debt in the company. The cards get maxed out and the company is left with a solid core of debt to be serviced on a monthly basis. If the business is growing rapidly there will usually be little opportunity to pay down that credit card debt as the ongoing growth requires more working capital to fuel that growth.

Growth will always demand more capital — the successful entrepreneur is the one who finds alternatives to expensive credit card debt. We have solutions that may work for you. Check out our website link http://www.casbmanagementgroup.com/business_financing_types.htm.

We look forward to serving you and welcome your comments

Are You Really Doing What You LOVE To Do?

Tuesday, March 2nd, 2010

Michael Fletcher of newworldcoaching.com discusses in this topic in his March newsletter. Your homework assignment, should you choose to accept it, is as follows:

Ask yourself these questions…get out a piece of paper and a pen and seriously write these answers down.

  • What makes me smile?
  • What are my favourite things to do?
  • What activities make me lose track of time?
  • What makes me feel great about myself?
  • Who inspires me the most and why.
  • What am I naturally good at?
  • What do people typically ask me for help with?
  • What would I be best at teaching?
  • What would I regret NOT doing in my life?
  • What are the 3 things that I value most about myself?
  • What is the biggest challenge that I have overcome?

Create a Personal Mission Statement.  Answer the questions below by using your responses from the list above.  Create 2 or 3 sentences.

Ask yourself…

  • What do I want to do?
  • Who do I want to help
  • What outcome (or value) will I create by doing this?

Are you really doing what you LOVE to do?

 

We welcome your comments.