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Knowledge and Skill Develop Over Time

Written by Jeffrey R. Armstrong – President/Owner of Armstrong Capital

Your favorite Master Note Buyer – Straightforward, Honest, Fair…

Since January I have been laying out my formula for you to build a foundation for your success in the cash flow industry. I gave you a Self Confidence formula and then followed with the Focus that is needed, continued with the underlying Desire that is required to succeed and last month I described the Effort that you need to put in to be successful. The final factors that tie it all together and make it work are the underlying Knowledge and Skill that you will build upon as your business grows.

So then the question then becomes, where do you get the Knowledge and the Skill to be successful in the cash flow industry? Well, you received your initial 3-day training as your base foundation of the Knowledge and Skill required. From that point on it is then once again up to you to continue your education and refine your skills. To become an expert in your chosen niche will take time and will only come by actually doing the business. The phrase “learn as you go” comes to mind. But, you don’t have to do that by yourself. There is a multitude of support and continuing education to keep you going and assist you on your way to success.

Let me just remind you of some of the assistance available to you to support you in gaining the needed knowledge and skill through experience. First there are the ACF member advisors, or as I like to call them the “coaches”. You have just come out of a class and are now in business. You have many questions about what to do first, where to get started, what niche you should focus on, how to pick a business name, what marketing methods to try, brochures, classifieds, etc. A coach can assist you with all of these types of questions and more. All they do every single day is answer your questions to help you get your business started and keep it running. Use them when you have questions.

Next, there are the Master Consultants. After you have your business up and running and you start to get some calls a Master Broker can help you in a couple of different ways. If you are still working at another job and you do not have the time to actually work on the transaction yourself you can simply pass on a name and phone number of a pre-screened note holder and earn a referral fee if a transaction closes. Or, you may want to spend your time marketing, finding and pre-screening the note holders while you have a Master Broker do the rest. In addition to being able to take advantage of a Master Brokers relationship with funding sources, experience and knowledge that a Master Broker has can often save you valuable time and considerable effort in conjunction with a particular transaction as well as help you earn a potentially larger commission.

Then there is the information in printed, audio or video form. I’m talking about the initial Resource Manuals you are given in class, the audio CD’s, the DVD’s, the ACF Journal, the website and let’s not forget the free Consultant Packages that all of the funding sources and some Master Consultants will give you for the asking. A Consultant Package will have information on how to work with them, what they look for and their parameters, what they purchase and what they don’t purchase. A Consultant Package might also contain specific marketing recommendations and ideas for the particular income stream that they purchase. There are also many wonderful products in the form of books and tapes that are available to you covering many different categories of income streams and the cash flow industry. If you want to learn more about a specific income stream, different marketing methods, negotiating techniques, conversion strategies and much more, you can probably find a product to help you out. Many Master Brokers and Funding Sources have out done themselves compiling and putting together books full of useful tools just to assist brokers in their careers. There is a wealth of knowledge out there for you to use to your advantage.

To continue your education further and grow your base of knowledge and skill there are some advanced courses available to you as well. Once you have your business up and running and you are ready to move to the next level you must continue to learn and grow. Some great ways to do that are through reading the industry journals and newsletters, attending more advanced classes when they are available to you. This industry is continually growing and changing and you must continue to grow and change with it to remain successful.

Lastly, once a year you must attend the Cash Flow Convention. This year Cash Flow 2006 is in Atlanta. I will be there along with all of the other consultants who are serious about succeeding in the business. Napoleon Hill said if you want to be successful, surround yourself with successful people. Meet the funding sources face to face. Talk to other new consultants and see how they are doing. Bump into Million Dollar Club Members and find out how they were able to attain success. Listen to Funding Sources, Master Consultants and instructors in over one hundred workshops that are all included in the registration fee. Learn new things about a different niche or learn more advanced information about your chosen niche. The knowledge and skill at the convention is so thick you can literally walk through the halls and just soak up the information.

That’s it! In the past five months I have laid out for you my formula for success in the cash flow industry. You started with building your Self-Confidence, and then we added the Focus, Desire and Effort. Using those factors combined with the appropriate Knowledge and Skill you will eventually become successful. Your persistent continuous actions will lead you to the success you desire, luck has nothing to do with it. See you at the convention!

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