Will it be the 1920-30's all over again, NO! But, Lifestyles based on financial leverage is going to disappear for a while. What I mean is consumers will need to save up money and have a down payment when making a large purchase, for example, a house, a car, etc...
More individuals will probably start taking the bus. Driving can be expensive, you have to put gas in your car weekly, change the oil every 3 months, pay for insurance, buy new tires when appropriate. O' I almost forgot the monthly CAR Payment. Look at the cost of owning and operating an automobile over 12 months and you will be shocked.
When it comes to business & consumer lending, you may hear C-Level Exec's say "Do they have skin in the game" meaning do they have a down payment to help offset our risk. That's right RISK, you will be hearing that word a lot more in the future. My belief is needing a downpayment will deter most from just worrying about the monthly payment, and consider the over all cost of the purchase. This will put a staggering stop to impulse purchases. No more 100% financing or sign and drive events.
Conclusion, innovation or risky businesses along with "mom & pop" business will most likely stop or come to a slow. Dry Cleaners- beware, Dog Walkers- beware, Small Coffee Shops- beware, Non Profits- beware, and the list goes on.
The good news is the amount individuals have in there savings account will/ should increase. If you did know, the national savings average has been negative over the past 2 years.
Saturday, January 31, 2009
Tuesday, January 27, 2009
Just finished reading, GOD is a Salesman
The book was well written, and the author Mark Stevens makes valid points throughout. I read the book because of the title and the fact I had lunch with Mark in a group setting.
If you didn't know, please note, GOD is not a salesman. GOD created an idea and his followers deliver the idea.
There were a few take aways which I will summarize; Communicate to the Masses-- don't call one prospect at a time, Always Control the Agenda, Know that most people buy on Heart, Faith, Trust, and Respect. Don't become a seller of stuff-- Hold out an idea, paint a picture, and make a promise, and always view selling as a way of building and maintaining faith in one another.
If you didn't know, please note, GOD is not a salesman. GOD created an idea and his followers deliver the idea.
There were a few take aways which I will summarize; Communicate to the Masses-- don't call one prospect at a time, Always Control the Agenda, Know that most people buy on Heart, Faith, Trust, and Respect. Don't become a seller of stuff-- Hold out an idea, paint a picture, and make a promise, and always view selling as a way of building and maintaining faith in one another.
Monday, January 19, 2009
Do you manage your debt?, or does your debt manage you?
Do you manage your debt?, or does your debt manage you?
The country's saving rate has been negative for the past 2 years, yet we Americans keep borrowing. And then we struggle to find ways to pay for the mountain of debt we've built. Some are losing homes, automobiles, boats, atv.... any asset that has a payment associated with it. So if your debt is managing you or if you want to get out of debt asap, keep reading to learn how to take control.
Recently, my wife and I were able to buy a beaitful home for $40,000 less than the previous owners built the home for in late 2003. Not to mention the previous owners also finished the basement in 2006. You might be wondering how I was able to pull this off. The answer is easy. The previous owners lost the home and were foreclosed on. The house was sold on the court house steps and my wife & I became the new owners. I want to mention, we lucked out and were able to sell our previous house 15 days prior.
In addition to purchasing our new home at a discounted price, we had another encounter in 2008 that has changed our families life immensely. I'm talking about a state of the art financial dashboard software called the Money Merge Account. I had 2 meetings with a man named Ken Hodge, and by the second meeting a free analysis of my families finances uncovered we could be debt free in 9 1/2 years if we just followed the program step by step. The best part.... there was little or no change to our existing life style. Since that day in September 2008, I have encouraged all my friends and family to take a look a the software package. You can learn more at:
www.payitfaster.com/plugintofreedom
The country's saving rate has been negative for the past 2 years, yet we Americans keep borrowing. And then we struggle to find ways to pay for the mountain of debt we've built. Some are losing homes, automobiles, boats, atv.... any asset that has a payment associated with it. So if your debt is managing you or if you want to get out of debt asap, keep reading to learn how to take control.
Recently, my wife and I were able to buy a beaitful home for $40,000 less than the previous owners built the home for in late 2003. Not to mention the previous owners also finished the basement in 2006. You might be wondering how I was able to pull this off. The answer is easy. The previous owners lost the home and were foreclosed on. The house was sold on the court house steps and my wife & I became the new owners. I want to mention, we lucked out and were able to sell our previous house 15 days prior.
In addition to purchasing our new home at a discounted price, we had another encounter in 2008 that has changed our families life immensely. I'm talking about a state of the art financial dashboard software called the Money Merge Account. I had 2 meetings with a man named Ken Hodge, and by the second meeting a free analysis of my families finances uncovered we could be debt free in 9 1/2 years if we just followed the program step by step. The best part.... there was little or no change to our existing life style. Since that day in September 2008, I have encouraged all my friends and family to take a look a the software package. You can learn more at:
www.payitfaster.com/plugintofreedom
Sunday, January 18, 2009
Thursday, January 15, 2009
Weak Sales? Get inspired by J. Gitomer
I read articles by J. Gitomer weekly. The reason?, he's a sales genius and I'm in B2B sales. This weeks article touched on never giving up, and in this current economic time, that is exactly what "us", sales people need to be hearing. Here is paragraph from the article, as Jeffery compares Sales to a popular signer.
"Ever think about what is took for a rock star to become one? To achieve in the face of doubting people or naysayers? To face rejection after rejection? To spend countless hours practicing and rehearsing? To hone their skills and craft - and THEN to achieve the acceptance of others? Make some sales, and some more sales, and finally a number one song, and a sellout concert. WOW - no wonder so few people make it."
"Ever think about what is took for a rock star to become one? To achieve in the face of doubting people or naysayers? To face rejection after rejection? To spend countless hours practicing and rehearsing? To hone their skills and craft - and THEN to achieve the acceptance of others? Make some sales, and some more sales, and finally a number one song, and a sellout concert. WOW - no wonder so few people make it."
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