Archive for the ‘How I View The World’ Category

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It Is Only The Hungry Wolf That Hunts

Monday, August 22nd, 2011

People are funny. I have a mortgage colleague who often complains that his business has not taken off as he has expected. His assumption is that he must be missing something like that “magical” marketing piece that is going to have clients beating a path to his door.
A lot of life coach gurus are dedicated to personal improvement, visualization, affirmations, positive thinking and structured goal setting which are all good things towards achieving results. People such as my friend seemingly want to improve the quality of their lives and expect more results from their business yet don’t appear to want to work any harder than they already are. They have the dream but not the drive.
With a good income and asset base it is easy to live off that. 4 hours on the golf course takes priority over 4 hours of client prospecting. A day at the beach is more important than a day of mortgage training. Not that life needs to be about work 24/7 as some personal time is never a bad thing. But when did hard work fall out of fashion as a building block to a better life?
Remember It is only the hungry wolf that hunts
If you are not achieving your business goals it is because you prefer to be right where you are. You are happy, comfortable and have a list of excuses to justify your current reality. You are not the hungry wolf.

We welcome your comments

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Don’t Take Advice From Broke People

Saturday, April 16th, 2011

I was reading a Jason Heisler blog on the importance of not taking financial advice from broke people. This would be consistent with the teachings of Robert Kiyosaki of Rich Dad, Poor Dad fame and would seem like good advice. Jason does not appear to be a big fan of the financial services industry and makes some good points, but I don’t believe his scepticism should be directed solely to this sector.

In any financial transaction if the person across from you has a financial gain in your decision then you can’t be naive as to any potential bias behind their advice. As one of my colleagues in auto sales explained it, “At the end of the day, it does not matter to me which car the client purchases or if it is the ”perfect” car for them. What is important is that they purchase a car”. You have to love the honesty.

It is very important to surround yourself with the best financial mentors one can find, especially when they may have a financial stake in your transaction. The wealthier they are, and therefore the less your individual purchase impacts on their lifestyle, the more likely they are to provide you unbiased advice. This is by no means an absolute reality, just a logical assumption. Of course being wealthier, they know what worked for them based on their knowledge and experience. No need to reinvent the wheel. Just duplicate what they have already done if it is applicable to your situation.

See Jason’s blog below:

On my way to a monthly investment meeting I was playing passenger while a good friend of mine was driving and we were discussing real estate. Both of us are keen on investing in real estate and have real estate investments. We are also both looking to grow our portfolios and have both come to a crossroads where we have to find joint venture money. We had been discussing a few ideas and bouncing the ideas off of each other and coming up with even better ideas when I decided to let him in on one of the most important pieces of advice I have ever been given, ‘Don’t take advice from broke people.’ These are neighbours, friends, relatives or acquaintances who are not financially free or wealthy. They are the ones that come to you with a ‘hot tip’ on a ‘great’ investment or always talk about investing, yet never take action. Stay away from their advice, or take it with a grain of salt and do your own research on it. Make sure it is based on facts, not speculation. If it sounds too good to be true, it probably is.
And the sad reality is there are hundreds of ‘financial planners’ giving people advice on how to invest when they don’t necessarily know how to themselves. They take a course, graduate from it and then are somehow experienced and educated enough to give other people financial advice for their retirement. I still don’t understand how this is allowed. These financial planners – now I am not saying all financial planners here, as there are ones out there who deserve to be giving financial advice, just the ones I referenced to above – are glorified sales people. If they do not sell their ‘products’ they don’t get their commissions, which mean they don’t get paid. How is that financially free? Is it because they only ‘work’ when they want to? Is that what makes them qualified to give financial advice?
Anyway, I can go for hours on that topic alone and why I think RRSP’s are not a good investment and are going to keep Canadians broke in retirement.
The advice my mentor gave me (Don’t take advice from broke people) didn’t sink in right at that moment. For some reason, I put it on the back burner and carried on with life taking advice from my ‘financial planner.’ And as I did this, I watched the investments he suggested to me start to lose value, and lose value big. I lost close to 30% on my portfolio value because I failed to listen to my mentor. It was at that point, his advice finally sunk in. I had watched my portfolio lose value because I had taken advice from a broke person, and the worst part about it, I had paid him monthly to lose that money for me, the nasty reality of these types of investments.
Since that day, I have not taken advice from a broke person. I now personally (I can call them up and chat to them anytime) know more wealthy and successful people then I ever have before. These are the people I listen to when it comes to financial advice. And even then, I make sure to do my own diligence on what they suggest, because as the old adage goes, no one cares more about your money than you!
So next time you get some ‘great’ advice, just step back and consider who you are getting it from before you jump in. As the great Warren Buffet once said, “It’s only when the tide goes out that you learn who has been swimming naked.”

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Setting Goals And Shaping Your Future

Sunday, January 2nd, 2011
This is curtesy of Nathalie Beauchamp. I found it and thought it appropriate for the new year.

I often start my Wellness On The Go™ workshops with information about the importance of setting goals. I ask the audience to demonstrate how many of them have goals, and whether or not these goals have been documented. Throughout the course of my workshops I have come to recognize that very few individuals actually make up goals for themselves, which quite frankly shocks me. On average, two or three of these individuals will admit to having goals out of the 50 individuals in attendance, and typically only one of these people will actually have their goals written down. I then ask the group what would happen if I got into my car after the presentation, not knowing my next destination. Where would I end up? Most people laugh and answer “nowhere!”–which is my point exactly. It seems like a silly question to ask, but if we don’t know where we want to go with our lives, where are we going to end up? We spend more time planning our vacations than we do planning our lives. Why is that? A goal is nothing but a dream with a deadline. Creating a road map is necessary if we are to become successful individuals.

Ask Yourself…
* Have I established goals for the next year, 5 years, 20 years?
* Am I truly living the life that I want to live?
* Have I made myself accountable for what I want in life?
* Will my failed goals lead to unwanted consequences?

Our goals drive us, they allow us to shape our future and provide us with the ability to grow and excel in each of our endeavors. That being said, it is important to remember that in order to achieve our goals we must first document them. When we do write down our goals something amazing happens; we become creators, creators of our own paths. Remember, what the mind can imagine, it can create: Anything is possible. HOW we are going to achieve our goals at the time of setting them may not be clear, but if reasons come first answers will come second. If you have a big enough WHY, the HOW will manifest itself–you will find a way to make things happen!

“Insanity: doing the same thing over and over again and expecting different results.” Albert Einstein

Ask Yourself…
* Do I have goals that have been left unaccomplished for an extended period of time?
* Am I truly making strides towards accomplishing my goals, or am I hindering my own efforts either consciously or unconsciously?
* Am I willing to look at things differently so that things can change?
* Am I open to new ideas or strategies that may positively assist me in the achievement of my goals? Where can I get ideas? Who could help?

Each year on the first of January, I take the time to reflect upon my goals from the previous year. I like to evaluate what I have accomplished, and review everything that has manifested throughout the year. It always makes me smile to see how things have unfolded for the goals which had a strong WHY even if I did not really know at the time how I would get them accomplished…amazing how that works! To continue, now that I have reviewed my previous year’s goals, I am ready to set new goals and design a roadmap for the next year’s journey. My successes motivate me to create new goals for the coming year and open up my mind to all the future possibilities.

My Goals, Categorized

1. Personal development and relationships — What skills do I want to develop? What do I want to learn? What relationships do I want to create?

2. Career — What do I want to accomplish? What kind of impact do I want to have?

3. Fitness, nutrition and food for the soul — What level of physical fitness do I want to maintain or achieve? What can I do to improve my eating habits? What practices can I partake in that will cultivate my spirituality?

4. Material things and time savers — Have fun with this one — have I been dreaming about purchasing a new car or installing the latest home entertainment system? Or do I want to hire help for household duties so that I can have more time with my family and friends?

5. Economic — What income level do I want to achieve? Are there investments that I would like to make within the next year?

6. Legacy — What do I want to leave behind? What do I want to be remembered for?

7 Steps Goal Setting Strategies

1. Brainstorm each of the categories for 5 minutes, don’t think too hard and allow your thoughts to come naturally.

2. Next, establish a timeline for each of your goals, whether it be a year, 5 years, 10 years or 20 years.

3. Decide upon a few goals (three or four from each category) that you wish to focus the majority of your attention on.

4. Now determine the WHY of each of your top three or four goals.

5. Decide if the WHY of each of your top three or four goals is “strong” enough–does it empower you enough? If not, pick another goal from that category which does get you motivated and excited.

6. After that, put your goals through the “SMART” system.

S — Specific — Is your goal too vague? Specifics help us to focus our efforts and clearly define what we are going to do. Answered by what, why, and how.

M — Measurable — How will you know when you have succeeded? Establish concrete criteria for measuring progress toward the attainment of each goal you set. If you can’t measure it, you can’t manage it.

A — Attainable — A goal needs to stretch you slightly so you feel you can do it and it will need a real commitment from you.

R — Realistic — To be realistic, a goal must represent an objective toward which you are both willing and able to work. Your goal is probably realistic if you truly believe that it can be accomplished. Set the bar high enough for a satisfying achievement!

T — Time-bound — Do you have a timeline? Putting an end point on your goal gives you a clear target to work towards.

Finally, beside each goal — write one action step you can take this week to get you closer to your goal. (i.e.- If you want to start doing Yoga — Your action step would be to contact the Yoga school you wish to attend, and ask about their classes and schedule.)

Make sure to place your goals in an area of your home, or office, which is frequently visited. The probability of accomplishing your goal(s) is increased when your ambitions are reviewed on a day-to-day basis.

Finally, have fun with your goal setting. Remember to THINK and PLAY BIG — the more successful and fulfilled you are, the more you will contribute to the people around you and ultimately, to the world. Furthermore, embrace the fact that what we can think about we can create. Leverage the power of your subconscious to plant the “right” seeds in your brain and watch what can happen!

 

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We Need Bigger Problems – Top 5 Keys To Problem Solving

Thursday, December 30th, 2010

I have always prided myself by ability to solve problems. I believe that is why I gravitated towards a career in consulting and financial services. In my previous career as an operations manager, my entire day was spent identifying or responding to problems and then finding viable solutions.

There are a few simple tools you can use that will help you solve your small problems before they become big problems. I include my top five below:

1.     Identify the real problem, not just a symptom of the problem. The biggest mistakes I find in problem solving are that people solve the “symptom” as opposed to the “core problem” and then are confused as to why a problem continues to reoccur. This is a classic case of not asking the simple question, why? Let me give you an example.

Jane has a common cold. She takes medicine to contain the coughing, the runny nose etc. Has she cured the problem of the cold? No, she has just treated the symptoms. To prevent a reoccurrence she needs to determine why she got the cold. Has she been getting enough sleep, eating properly, avoiding potentially contagious situations? Let’s assume Jane has only been averaging 3 hours of sleep in the week leading up to the cold so her immune system has been compromised. Is this the core problem? Not really. Why has she not been sleeping? Seems they are shorthanded at her business so she has been forced to work double shifts to maintain production. Is this the core problem? I suspect it is not. Why are they shorthanded? We will end this example here but you can see that by asking the question “why” you can begin to understand the cause and effect relationship, and solve the root problem, that creates so many symptoms as a result.

2.     Right the problem down on paper and then brainstorm possible solutions. Writing things down helps for clarity.  Look for solutions you can implement immediately.

3.     Talk to other people. There are others that have already been through what you are experiencing. Can they share how they handled the problem or provide you a new perspective? Don’t go it alone when you don’t have to.

4.     Take action. Deal with the situation even if it is a series of baby steps to accomplish the ultimate goal. Problems disappear when planning is replaced by action.

5.     Get bigger problems. One of my favorite lines when my spouse begins telling me about her problem of the day is “I guess if that is your biggest problem then you have a pretty good life”. I can’t say that to clients but that is often the way I feel. Some problems are so small when you look at the big picture that it is best to just to deal with it and move on without a lot of fanfare and effort. “Don’t sweat the small stuff and remember that it is all small stuff” The solution to small problems is to find bigger problems to occupy your time, or as I like to call them “opportunities”. The difference between a problem and an opportunity is all based on perception and finding the positives that you can create as a result.

If you want to grow your business, or grow as a person, you need problems. The trick is can you find the opportunity in your problem? It is there for you to prosper from.

 We welcome your comments

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Follow Up To “Not For The Perfect Entrepreneur”

Wednesday, October 6th, 2010

Some of my team have been asking questions in response to my blog of September 7, 2010, Not For The Perfect Entrepreneur, www.casbmanagementgroup.com\blog. The Q&A is as follows:

Q – How do I choose my Synergy partners?

Look for those that bring value to your relationship. The top producers in their field will bring you the biggest return to you, using the 80/20 rule. Are they experts in their field? Can their influence drive sales for you? Do you share a common client? Do they currently use your product or service? If the answer is yes to any of these questions, chances are you have a good fit.

Q- How do I motivate them to act?

Make it easy to work with you and make it profitable to work with you. The more seamless the process and the more integrated the two businesses the better. Customers should feel like each of you are an extension of the other, like separate departments but within the same company. Understand what your synergy parent needs out of the relationship or the WIIFM (what’s in it for me) and deliver on their WIIFM

Q-How do I best compensate them?

I like paying a percentage of sales they generate for me because if they do nothing they receive nothing. The harder they work to make me successful the more they benefit. There may be other forms of compensation in their WIIFM, but from my perspective cash is king.

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Email Marketing – Guest or Pest

Tuesday, September 7th, 2010

 

We all check our email inbox in search of the important emails and those requiring a quick delete. It is key to remember that as much as we think our message is important if the prospect is busy, there is no need for the product or if the timing is not right for a sale, chances are we are viewed more of a pest then guest.

The product I sell is essentially money. It is a product I would think everyone requires at some time in their life. I don’t view myself as a pest. People that do business with me end up in a better financial situation then they were before. I change lives with a stroke of a pen. I am surprised more people don’t have a use for money. I always find things to do with mine.

Surprisingly my email strategy for the most part is not about money. It is about:

The education on my clients and affiliates

Timely updates on changes in the marketplace

How I work for the client

Expert advice on a variety of financial products

Helping others become successful

Access to other industry experts in related fields

I figure if I help others get what they want first, my needs will be looked after. Give more and receive more. As Maxwell Smart used to say “and loving it”

We welcome you comments.

Posted in Business Financing, Casb Management Group Inc., How I View The World, Investments, Mortgages, Real Estate | We welcome your comments »

From The School Of Hard Knocks

Tuesday, September 7th, 2010

Tom & Nick Karadza have shared a story of a real estate deal gone bad and the life lessons learned in the process. I liked it so thought I would share an edited version.

Our family had purchased a $750,000, three car garage, 4,400 square foot house to “flip for profit” in Mississauga only to have its value fall several hundred thousand dollars within a year. (Early 90’s)

Interest rates went up multiple percentage points at a time. We couldn’t sell it and rented it out for a monthly loss.

Our real education around real estate had begun.

The Lessons…

Over the next ten years we learned how to manage property.  And many of the lessons have served us well but at the time they were bitter pills.

1. We learned that you can’t trust tenants.  Sounds harsh and isn’t the type of “positive thinking” that we prefer.  But its practical thinking and it’s the truth.  We had executives rent that house from us who skipped out on last month’s rent … literally moving out in the middle of the night with their baby grand pianos and Persian rugs.

Today we hope for the best with all our tenants but plan for the worst.  We hold back extra cash to cover several months of vacancies – even with tenants who are great people and have great jobs.

We believe our tenants are good people but even they have unexpected things happen to them.  They may not have planned to change their behavour but their own personal reality can turn upside down overnight.

2. We learned that sometimes your friends … aren’t. Sheesh, how bad does that sound?  A close friend to the family was a Realtor who was partially involved in finding those tenants who fled us a brand new place to rent.  When we asked where the tenants were, so we could go after our losses, they denied to help.

3. We learned that there’s no easy money. Compared to working the construction business, flipping property seemed easy.  Well, we learned that easy money doesn’t exist.  It’s funny how after running a “real” business we fell for the hype of making “easy money”.

4. We learned to trust and believe in ourselves. We learned how to advertise and rent out property.  We learned about leases and the laws in Ontario.  We learned to verify employment and get the addresses of tenant’s employers.  We learned to build up cash reserves and to under promise and over deliver.

5. We learned that no “theory” could have taught us as much as real world experience did. You can spend years reading books, attending seminars, researching and preparing but you’ll never have 100% of the information you’ll need.  No two environments or properties are the same.  It’s the same reason that 100% of MBA’s don’t go on to start or run successful businesses.

We sold that property about ten years after it was purchased and about 9.5 years after we had planned to.

But luckily we survived and learned some very practical lessons for our next property purchases along the way.

How to analyze better.  How to invest to control risk.

And we learned some surprising lessons that had nothing to do with real estate … that have proved to be the most valuable lessons of all.

Posted in Casb Management Group Inc., How I View The World, Investments, Mortgages, Real Estate | We welcome your comments »

Marketing 101

Saturday, August 28th, 2010

There is one marketing truth you must understand: People buy when they are ready to buy, not when you are ready to sell. So, just because your lead is not ready to buy today, doesn’t mean they aren’t important. After all, today’s leads are tomorrow’s customers, or next month’s or next year’s. Treating your leads like existing customers ensures they will come directly to you once they are ready to buy. Since I am in the business of essentially selling “money” I figure it is a product everyone eventually will need. The trick is in “reminding” people that I am still alive, still in business, and still anxious to help them achieve their goals.

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Life Is Short

Saturday, August 28th, 2010

 

Life is short. No more excuses.

Carrie Garber provides some tips to play with as you continue your process of personal transformation!

Step into total self-love and acceptance.
As you move through your life, how much are your decisions being influenced by wanting approval from others? Are you living someone else’s vision for your life? If so, it is time for you to be grounded and confident in who you are…to embody unwavering trust in your truth. Just imagine how different our world would be if we were all living our most fulfilling lives, overflowing with authenticity and passion.

Stop telling yourself the old stories!
Refuse to give your limiting beliefs and stories any more power. Instead, hold as sacred the creative power of your thoughts and energy. The Law of Attraction speaks to how like attracts like. Given this reality, what do you want to grow more of with your focus? Be crystal clear about the new, empowering beliefs that you are now committed to living, and spend an extravagant amount of time magnifying, savoring and declaring those new beliefs.

Avoid the trap of comparing yourself to others.
How often are you obsessing about others and analyzing how they show up in life? And how often does this lead to worries about not doing it “right,” not being “ready” or not being “good enough?” I want you to know without a shadow of doubt that you are not alone with your fears, doubts and insecurities. We are all on the journey of being human, each and every one of us, no matter how it may look to you from the outside.

Allow your process to be messy.
How might your life be different if you were totally willing to fumble and fall? This is about tapping in the true cost of staying stuck in your comfort zones, continuing to deny yourself and the world of your vision. I want you to declare that this is no longer okay. The world is waiting for your beautiful and unique imprint. You have a contribution to make. So let go and begin taking action.

Release attachment to the idea that it has to be hard.
We tend to have our well-prepared lists of why things are the way they are, as well as a detailed description of the intense challenges or drama associated with making it different. Do your habits and patterns convey disbelief that change and growth could be easy? Well, what if it is? What if, bottom line, playing bigger is primarily a matter of simply letting go of the struggle? Maybe all it takes is to absolutely decide that you are going to release what no longer serves and finally get out of your own way. What if?

We welcome your comments.

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The Day Common Sense Died

Saturday, August 28th, 2010

An Obituary printed in the London Times – Interesting and sadly very true.

Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape.
 
He will be remembered as having cultivated such valuable lessons as:
 
 - Knowing when to come in out of the rain;
 - Why the early bird gets the worm;
 - Life isn’t always fair;
 - and maybe it was my fault.

Common Sense lived by simple, sound financial policies (don’t spend more than you can earn) and reliable strategies (adults, not children, are in charge).
 
His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.
 
Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children. It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.
Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims. Common Sense took a beating when you couldn’t defend yourself from a burglar in your own home and the burglar could sue you for assault.

Common Sense finally gave up the will to live, after a woman failed to realize that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement. Common Sense was preceded in death, by his parents, Truth and Trust, by his wife, Discretion, by his daughter, Responsibility, and by his son, Reason.
 
He is survived by his 4 stepbrothers; I Know My Rights, I Want It Now, Someone Else Is To Blame, and I’m A Victim

 
Not many attended his funeral because so few realized he was gone.

We welcome your comments

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