Written by Jeffrey R. Armstrong – President/Owner of Armstrong Capital
Your favorite Master Note Buyer – Straightforward, Honest, Fair…
There are things in the Note Business (or any business) that you can’t learn from a workshop, book or video – things that only experience and “time on the water” can teach you. Attending a live workshop taught by a current practicing note professional is definitely one of the many things that you can do to ensure that you will have a successful note business. The contacts you make will be there to encourage you and share your initial struggles. You could pick up important marketing, negotiating, calculator and presentation skills that will give you and edge when starting out. You may pick up things to help you make fewer mistakes and be successful faster and easier than if you tried to do it alone. But there are some things that workshops, books, home study courses, audios and videos cannot teach you. Nonetheless, the benefits of a live training by a current practicing note professional and a structured learning environment are many. Even so, some people learn best on the job. Here are some simple truths that no amount of study can teach.
The Importance of Exceeding Your Note Holders’ Expectations – Note Holders are our customers and are the heart of a successful note business. Even if you have great services and the best pricing models, your note business will not thrive without a continuous flow of Note Holders that need cash. That is why it is important for you to make sure that you exceed your note holders’ expectations. If note holders become note sellers and are happy with your company and the way they were treated then they will most likely not only come back again but also refer others to your company. This is so elemental, it is often overlooked.
You Can Learn From Your Competition – When you are in a note workshop, your trainer may not tell you that competition can potentially be a good thing. You can learn from your competition by assessing their strengths and weaknesses and doing a S.W.O.T. Analysis (google it). You can also learn things that you may be able to implement in your own business.
The Importance Of Support – Being in the note industry can be incredibly difficult. You may hear a lot of no’s before you hear a single yes. You may also have a lot of trouble getting your note business off of the ground. That is why it is so important for you to have the support and encouragement of your family members. You will probably not learn about this in workshops or books.
Humility – People achieve success with their note businesses because they never stop listening and learning, and it takes a humble person to listen to others. No workshop can teach you how to be humble.
Perseverance – Most people have to fail several times before they are successful in the note business. Seventeen-year old Sabirul Islam wrote a book entitled The World At Your Feet. He sent the book to major publishers and was rejected 40 times. However, he did not let his failure deter him. Islam self-published his book and it sold 42,000 copies within nine months. Adam Horwitz is another example of someone whose persistence paid off greatly. He is the creator of Mobile Monopoly, which is an online product that earned $1.5 million in just 30 days. However, Horwitz tried 30 times before he was able to launch the product. You will not learn how to persevere when you are in a workshop or soaking up information from a book.
If you are just starting your note business or been at it for a little while learn everything you can by attending live workshops, reading books, watching videos, listening to audios and testing yourself with home study courses. Just keep in mind that there are parts of the business that will take “time on the water” to practice and learn. Know that some things you just have to experience while working the business, so just start working the business and learn some as you go. Remember success demands action, keep on marketing, it’s going to work! TWITA! (That’s What I’m Talkin’ About!) J