Sales - Don't Give Up; Keep Connecting!

In these tough economic times sales can be and is challenging to say the least. And now more than ever we need to remind ourselves not to give up, be patient, and keeping following up so we can bring in more sales. I especially bring this topic up because I know many of us out there are really trying to turn things around in our businesses and this is a terrific example of why we all need to follow up as much as possible and never give up too quickly.

Here is why…

Here is some eye opening statistics according to “Brilliant Selling” by Jeremy Cassell and Tom Bird which shows that making as much contact with prospects, really does translate into results.

48% of salespeople never follow up with a prospect.
25% of salespeople make a second contact and stop.
12% of salespeople only make three contacts and stop.

“So – only 15% of salespeople make more than three contacts. What does that mean, then?
Well it means 85% of salespeople consistently waste golden opportunities to sell!”

Because….

2% of sales are made on the first contact.
3% of sales are made on the second contact.
5% of sales are made on the third contact.
10% of sales are made on the fourth contact.
80% of sales are made on fifth to twelfth contact.

“So, if you are like almost half of all the salespeople and make no more than one follow-up to your prospects, you are leaving 98% of your income on the table for someone else to come along and pick up.”

Again, I bring this up because getting your credit back is only one small part of your life and it is only one small part of the bigger picture. I really think that much of everything we do is all connected and every bit we can do to get back on track, health, wealth, mental, personal, business, etc. will make a more prosperous life. And I truly hope we all can have this precious opportunity.

If you have a story to share, some advice to share with others, please feel free to comment. I would love to hear it!

Let'st Keep Connecting and Keep Moving Forward!

Are you on LinkedIn? Send me an invite to conncect. Send me an invite to connect and I will accept.
Use brhoades@trwcredit.net for the email on the invite to conncet.

Are you on Twitter? My twitter name:  Credit_Fix_1  
I will follow you back.


Facebook? Send me an invite to connect and I will accept.


~Brad

Run your own race and compete with yourself

A colleague of mine told me this story where she entered a running race. It was about 7 miles or something like that.

At the start of the race… as she stood there, she started to size up other competitors and thought to herself… “Well, I should be able to beat that guy at least.” And then the race began… and “that other guy” really took off and my colleague quickly found that she could not keep up with that guy’s pace. He was way too fast.

So she decided not to worry about that other guy’s pace and started to run her own pace, “her own race”. And about half way into the race she looked over and saw “that other guy” stooped over on the side of the road. He was getting sick because he ran too fast, too quickly, and he did not pace himself.

My colleague ended up finishing about 15 minutes ahead of “that other guy.” She ended up doing better not because she competed with him but because she finally competed against herself and she ran her own race at her own pace. If she had ran against this other guy and ran his speed… than she too would also be on the side of the road, puking up and getting sick. But by competing against herself and not worrying about “what others are doing” she did much better in the end and was definitely much happier with herself.

If you honestly do the best that you can and you give it your best effort… than you will sleep well at night and you will definitely improve in your life.

So don’t worry about that “other guy”. Run your own race and do the best that you can and then you have already won! Don’t compete with others in life….compete with yourself.

You can do this!

Walking - stress relief and recharging the mind

You are not alone if you ever get stressed over paying the bills, paying down debt, worrying about losing your job, findind a job, keeping your spouse happy, getting over a divorce, cleaning up your credit, putting food on the table, supporting the family, and how do I step it up and make things work?; the list goes on forever and so does the stress that comes along with it.

So if you are “human” and feel stress from the daily grind of life YOU ARE NOT ALONE.

Personally, I like to take walks to relieve my stress for a couple of reasons. One great reason…it is free! For many of us, we simply do not have the budget to join some awesome gym, take those Pilates and yoga classes, and pay a personal trainer to get us into shape.

Walking is a great way to not only relieve stress but for general exercise. Seriously, if you go for a 20 minute walk it really helps clear your head of those daily demons that enter our thoughts. Relieving stress is a huge benefit to your health and state of mind. And clearing those negative thoughts really helps us get back on track and stay on track.

I bring this topic up because like most of us who are struggling through things right now, stress is going to be one of the biggest obstacles to overcome. And walking is a great way to get outside, clear your thoughts, reenergize our batteries, and give us that little break we need to keep on trying and never give up. I will sometimes keep on walking if my mind is really stressed out. This helps out a lot when I find myself against the wall in life... LONG WALKS.

So if you find yourself stressed out these days… take a walk and recharge!

How Credit Is Counted - some helpful tips

HOW CREDIT IS COUNTED
• 35% Payment history
• 35% Amounts owed
• 15% Length of credit history
• 10% New credit
• 10% Type of credit

Stay away from small department store cards; they have a low limit and tend to bring down your overall score
You must use credit in order for it to report to the bureaus
If you do not use a card it may be cancelled by the bank – this WILL hurt your score
Never use more than ½ of your available credit line
Ask for line increases

How Do They Calculate a Credit Score?
Different credit bureaus calculate your Fico or Beacon Score slightly different. Each credit bureau makes the score their own and gives it a different name. Equifax calls the score a Beacon Score, Experian calls it a Fair Isaac Score and Transunion calls it an Empirica Score. Every time something changes on your bureau, your score will change. A lot of information is used to calculate your score; however, there is no formula that has ever been given to the public. Lenders will look at your score along with your income and the kind of loan you are applying for to determine interest rates.

Improving Your Credit Score
Now that you know how your score is calculated, you can begin making changes.

• Pay your bills on time. This sounds simple, but this is the biggest thing you can do to keep your score high. Delinquent payments and collections have a major negative impact on your score.
• Keep your balances low on unsecured revolving debt like credit cards. High balances still owed can affect a score.
• The amount of unused credit is an important factor in calculating your score. You should only apply for credit you need.
• Make sure the information on your credit report is correct. If it is not, dispute it with the Bureau Company or lender directly.
• Removing negative accounts on your credit report has the biggest impact on your score.

Generally negative things can stay on your credit for 7 to 10 years. But you can hire a professional credit repair service to do it for you.

http://gettingbackmycredit.com/

How much does a Low Fico Score Cost You?

Prime, Alternative A, Subprime and Hard Money (Jilted Loans)

If your score is 680 or above, you are considered to be Prime and can get the lowest interest rate. This means that you should not have a problem getting the best interest rate on a loan. Another major factor could be debt to income, which means the amount of debt you have in comparison to the amount of income you make. Do you have the income to pay back the loan?

If your score is 620-679, you are considered Alt A. This will give you a interest rate a little higher than Prime.

If your score is 500-619, you are considered Subprime. This will give you an even higher interest rate.

If your score is 500 or below, you will probably get a Hard Money or Jilted Loan. You may still be able to get a loan, but you will have to pay fees and a much higher interest rate. THIS IS NO PLACE TO BE. A low score can keep you from getting insurance or even a job.

(This information is based on mortgage information in March 2008.)

Auto Loans

Your payments on an automobile will go through the roof with bad credit. Here are examples.
$20,000 auto loan over 5 years

Category_________Interest Rate_____Payment____Total Cost After 5 Years
Prime______________7%___________ $405____________$24,300
Subprime___________14%___________$477____________$28,620
Hardy Money (Jilted) ___21%__________$557 ____________$33,420

Home Loans
$100,000 mortgage over 30 years

Category_________ Interest Rate_____ Payment_____ Total Cost After 30 Years
Prime______________ 6.50%________ $632 ____________$228,625
Alternative A _________7.50% ________$699 ____________$251,715
Subprime ____________10% _________$877 ____________$315,925
Hard Money (Jilted) _____14% ________$1,184 ___________$426,553

Having a low score can cost you thousands of dollars.

The Big Bluff - what cards are you holding?

If you find yourself envious of your next door neighbor, a close friend, relative, or perhaps a coworker, you might want to consider if that person truly has a winning hand or if they bluffing their way through the game. They might be bluffing and “fake it, until you make it” like a good many of us are doing in our everyday lives.

It really seems that the majority of us are playing the hugest game of liar’s poker and we all have pretty crappy cards. However, we of course want to keep up with our neighbors and friends so we look like we are doing great. But be careful with this! It is one thing to look busy so you can attract more business so you do start succeeding.

But if you start buying huge flat screen TV’s on credit cards, taking out cash advances to dine out like a king, and start deleting your equity in your home in order to appear that things are fine… then things are spiraling down.

I would, at least suggest to be honest with yourself if not to anyone else. Don’t let your neighbors “stuff” spiral your life down the rabbit hole...that will become a living hell to climb out of. This direction is a one way ticket to Alice's rabbit hole. And that is not the way to Kansas. So at least be true to yourself and be kind to yourself. Don't spend your way into poverty simply to impress the neighbors or other family members for that matter.

Avoid paying for all of this stuff on credit cards all together if you can. I would suggest getting a second debit card in place of the credit card and use that as your “back-up” card. Cash is King! Try to add $50.00 a month to it or whatever amount you can. And that way, when “life happens” and when you want to purchase those things in life, you can use this back-up debit card to pay for these occasions or emergencies. Then instead of going into further debt, you have the money, it is yours, and you don’t have to worry about paying interest to anyone. It is a small step but it might make a HUGE difference down the road.

So what is your poker hand? Are you bluffing like so many of us??? Be careful! I think if we all starting getting a little more realistic, at least with ourselves, we would have a little less headache and hopefully a little more cash in our pockets as a result.

Do you have a story to share? Love to hear it.

No hero is coming to save the day - accepting the truth

Do you remember those old western movies where the town was being harassed by the bad guys and they were depending upon the hero to save the day. The hero is supposed to come riding in at the last moment, kick ass, and save day? Well, we are not in that movie!!!

Don't kill the messenger but there is no hero coming in this story. In fact, YOU ARE THE HERO, in this story. So pick up whatever pick-axe, shovel, gun, stick, or anything you can find and start fighting. Not literally of course. But you, me, we, need to dust off our jeans, pick our selves back up and make it happen.

If you are like me you work on commissions then you know those times when the checks don't always coming "riding into town". Or perhaps you just got laid off? Whatever it may be.

If this is your situation you might want to consider getting a second or even a third job if you need to. I know you most likely don't want to hear this... but if the bills are piling up you have to do something, and the sooner you realize that there is no hero coming... the sooner you will realize you have to do whatever it takes, to make things work.

Personally, I don't think the economy is going to pick up anytime soon and I certainly don't think the past or current government will make any kind of difference to the situation. It is up to you to make it work. You can do this but it is not going to be easy.

So if getting a part-time job at night, late afternoons, or the weekends is what it takes... then I would suggest doing that. Yes, it sucks. But the hero is not coming and we need to turn this fight around.

And for that other guy who looks like he is kicking butt??? Maybe not? Personally I think we are playing the hugest game of liars poker.... stay tune for The Big Bluff.

Keep fighting and don't give up!

http://GettingBackMyCredit.com

Starting Over

In my current job of credit restoration I come across a lot of people these days who are starting over in life due to the economy, being laid off, separating from their spouse, lost their home and had to do a short sale, their job has become "outdated" or several other circumstances in which life has thrown them a blow. This can be a difficult path to walk.

And to those people I have to say this.... Don't give up!!!

I know it sucks. And I know it sucks because I have been in those same shoes. I use to have my own business selling wine gifts, promotional items, etc. And then one day I realized I could not keep financing the whole operation and I had to close up shop. I was forced to declare bankruptcy and so I know that feeling in the stomach that you get when it all comes rushing in like a huge wave that you did not see coming and it knocks you off your ass, you feel like you have to throw up, you get light headed, your throat hurts, your eyes are red, and you can't sleep because you are so worried. So I do get it because I walked in these shoes and I know how difficult it is to wake up and be optimistic. I know what it is like to feel like there is no one to talk to and everyone seems to be so negative which only makes it harder to cheer up.

One thing that has helped my continuous journey building my life back and helping lift my spirits is reading books on marketing and sales. I know that might seem strange but reading books which have uplifting solutions, positive messages, and ways to rebuild my life... have been a great source of energy for me. Sorry, but when it came to getting advice from family and friends it seemed never available. But with the books I found refuge and a way to fight back and regain my life. I am not saying this is the only solution of course, but it is one small step you might consider if you are walking on that path right now.

More to come... Keep fighting and don't give up. You can do this! We can do this!

Fighting Back the Economy - keep fighting

I don't know about you but I feel that with this economy there is always "something" ... some kind of "challenge" or "extra step" for anything that I do. There just seems to be something that will get in the way, break down, not work, or whatever it is, in any task that I am working on.

So if you feel like you are in some kind of boxing match....you are not alone. Times are still tough and my personal challenge has been trying to stay energetic, not get down on myself, and stay motivated...especially when all of these extra challenges seem to keep pouring in....one after another.

And that has been a challenge.... there seems to be no time to rest. As soon as I sit down the bell rings again and the economy starts throwing and landing punches in my face. And my opponent, "The Sluggish Economy" .... doesn't seem to be tiring too much and he is ready to land some more punches.

I don't know about you but I am ready to fight back and turn this fight around.

I just need to hang in there, gain my footing, stay focused, and figure out a way to turn this fight into my favor. Find a way to work smarter and improve my success rate. We can beat this guy!

If you feel this way... Don't give up! WE are definitely not alone. Hang in there! Keep fighting!

I would suggest trying to "step it up" each week. Maybe add 5% increase each week. Go to the local bookstore and buy some marketing and sales books. See what you can do to improve your daily output and work smarter. It can be done but we just need to keep plugging and keep in the game.

Wake up and make it a powerful day!

"A champion is someone who gets up when he can't." by Jack Dempsey

"Don't count the days...Make the days count!" by Muhammad Ali

Two great books to read are...

"Inbound Marketing" by Brian Halligan and Dharmesh Shah

"Buzzmarketing" by Mark Hughes

Remember...Fall seven times.... stand up eight! Keep fighting!

http://www.gettingbackmycredit.com/