Do you network with other businesses?

Good morning all.

After physically exhausting myself over the last 2 days moving into a new House, I am back to the daily grind that is being an entrepreneur.

Now with that comes wearing a large amount of hats so to speak:
accountant, advisor, planner, maid, organizer, philanthropist, coffee maker, secretary, did I miss anything... haha

Needless to say you are everything to everybody and sometimes all at once. It makes life challenging, but in the same regard very rewarding. Usually the work you put in you get out.

When it comes to being a marketer and the head of your marketing department for your business, there are many ways of doing it. Some correct, some incorrect, some work some don't....

The one I wanted to blog about today is what I consider a business to business approach.

Why not put the law of Reciprocity to work for you?

Why not help someone else be successful as well along the way?

Why not give friends and family members a reason to click onto your website?

If you create a page where they can go to get a directory of referral partners that you yourself have personally vetted, that is huge !!!
You would be their trusted advisor (which is what you should be striving for).
You would also be creating a mechanism for you to network with other business owners to help them grow by referring them....Win Win ?

Does it have to be complicated?

No...something simple like this to start.

"Hey George (simple chit chat to start....)
I have an opportunity you may want to take advantage of. because of the nature of my business and the depth of the relationships I have built, I refer clients all the time to businesses such as yours. In order to streamline the process a bit and make it simpler for them to find you, I have built a website to direct them to.
It includes attorneys, doctors, financial planners,maybe babysitters...anything to do with the home.
Best part...NO COST TO YOU.
So for no cost and the exposure to my database (500 people) my only request is that you continue to do an excellent job in what you do.
Sound like something you may be interested in?"

A lot of times we sit here and over complicate things to the point where we already have the excuse for the guy on the other end of the phone before we even call.
We already know what he's going to say and therefore no need to make the call...right?

Well if you give people a spiel like that and follow through with your word, why wouldn't they want a service like that.

No cost.

No time marketing.

Would love to hear some feedback on an initiative such as this that has been successful.

If you've ever been coached by one of Brian Buffini's Coaches, you would know this strategy already.

Check out my webpage with a link to referred businesses that I have and use on a continuing basis.

http://www.mybusinessdirectoryonline.com/Home.aspx/kevsdirectory

Have a great day.


Kevyn

Volunteering versus the Law of Reciprocity

I travelled with my Family over the weekend to the sunshine coast. A beautiful 45 minute Ferry ride and we were there early Saturday morning. Not a cloud in the sky and the kids excited to be released from the confines of Dad's "Don Cherry Mobile" as they like to call it.

The trip was planned around an opportunity to volunteer my services ( I have a fairly extensive background in restaurants and cooking) to my friends at Remax top 20 in Gibsons. They were putting on their annual BBQ for the Sea Cavalcade and were in need of a cook to help out and man the BBQ. I volunteered.

After the 3 hours and overcoming the frozen Salmon steaks it was a success with nary a complaint and a few compliments to boot. All in all a success right?

Absolutely.

But when I got back home after cleaning up, it got me to thinking.

There are 2 factors at play here, and I never even thought of the second one even though it was right there all along.

You see even if your heart is in the right place, it can still be perceived in a different way. We are after all human and flawed right?

Here are the 2 things at play I am speaking of:

Volunteering is the practice of people working on behalf of others or a particular cause without payment for their time and services. You are basically giving of yourself without the expectation of something in return.

simple.

But what about the other part of that equation that is so often bound together if not mistaken for each other...

What about Reciprocity...

The law of reciprocity.

"One of the most potent of the weapons of influence around us is the rule for reciprocation. The rule says that we should try to repay, in kind, what another person has provided us."

Robert B. Cialdini, author of The Psychology of Persuasion (William Morrow, 1993)

So, even though I volunteered my time and services without the thought of having or receiving anything in return, was my heart in the right place?

I think it was...at least the intentions were there.

But do I expect my Realtor friends at Remax top 20 to return the favour in some way?

Hard to say.

The kid I was raised to be by my parents says no. I did this to help out and make a difference, which I did.

But the Business owner in me says yes. The Business man in me is hoping that I stay top of mind should any mortgage related business arise in the next little bit...you know maybe throw one my way to say thanks.

Well now, in being honest where does that leave me?

Am I the quality human being that Mom and Dad raised me to be and helped a good cause on the weekend?

or....

Am I the conniving and manipulative businessman (these are ultimately the successful ones in life) ?

In my heart I did it solely to make a difference and help out. That is what allows me to sleep at night knowing that I did it for the right reasons and not masking it with an ulterior motive.

Would love to hear some stories and thoughts on what if any experience as a business professional you have had and would like to share.

We can discuss on Facebook or Twitter or in response to my post here.

Check out my webpage if you have time...learn about what is going on in today's mortgage world !
www.kevynoyhenart.ca

Have a great day.

Kevyn

Business plans...traditional or 1 page?

Got to thinking last night. _______ enter punch line here...haha

The traditional way of doing business has always been done a certain way.

Do this and you will achieve that. Do this enough times and this will follow....

But is a traditional approach one that still works in today's world?

Absolutely it does! But here are my thoughts on why a business plan needs to be one page long and not a traditional 10 page with every detail scrutinized to the nth degree.

We have no business plan.
We have no spreadsheet with five years of projected earnings.

There are two reasons in my book on why...

Most plans never come to fruition for varying reasons, and five-year sales projections are about as accurate as a poll for political purposes.

What you need in today's changing landscape is flexibility. You need to be able to adjust and massage your plan on a daily, weekly and yearly basis.

Its like the experts who say rates are going this way...or we've hit rock bottom. There is no true way to know these things until we have gone the other way and there are statistics to show where rock bottom truly is. In other words, an expert is hedging his bets on past experiences and applying it to today's world.

You need to build a plan like the following...

Start with  a forecast of what you believe sales will be over the next 100 days, and the next 12 months.

Beyond that it’s a wild guess at best and like I mentioned earlier...you need to be able to adjust and massage!!!!

The reason I suggest this way is it ensures that the short-term is intense and focused and your effort has a deadline.

In the meantime I just saved you 100 hours of work

Not to mention probably a huge consulting fee (charged by people who use a cookie-cutter to write these things up anyways), and the agony or defeatism caused by not being able to hit the plan anyways.

If your Manager or Boss insists on a business plan try something like this…

Go onto Google...
Download a generic plan...
fill in the details...
Place your name at the top and submit....

In my opinion and experience it won't get read through anyways...

What you are truly selling is yourself and your approach!

To sum up what Jeffrey Gitomer has suggested in the past...

Fill up a van with your Banker, your boss and anyone else who would be involved in the decision.
Take them on a trip to visit your 5 best customers.
Film the entire trip.
When you visit each customer, ask them questions...
Find out why they love you, talk to their CEO, tell them what your game plan is for the next 12 months – maybe have it prearranged so that they give you an order right on the spot – thank them for their business, their support, and their loyalty, and then go to the next customer.

http://www.youtube.com/watch?v=VIRmFr_ctEA&feature=player_embedded

There is a link to one of Jeffrey's videos on writing a business plan that will echo my thoughts as well.
This guy is a genius !!!

To sum it all up....

Keep it simple stupid like my dad used to say all the time.
Keep it up to date and massage it every couple weeks.
Track the important statistics so you can make the adjustments.
Have an accountability partner to help with hitting the goals ( A topic for another blog ).
And be true to yourself and honest with the results and predictions.

The bottom line is this....

there is a saying and I am not sure who came up with it...but it goes like this:

"Those who do not have written goals and targets aim for nothing....and they hit is with amazing accuracy."

Lets not be that person.

Hope you enjoyed today's article....

Until next time, check out my website at www.kevynoyhenart.ca for continuing updates and information on anything to do with your home and mortgage.

Kevyn

BOC Leaves rate alone....for now

Here’s some highlights from the bank’s July statement:

• The bank is now saying “some of the considerable monetary policy stimulus currently in place will be withdrawn”  compared with “eventually withdrawn” in the last statement
• Economy now forecast to grow 2.8% in 2011, 2.6% in 2012, 2.1% in 2013 (Down from April's forecast)
• Forecasts for 2012 and 2013 remain unchanged
• Headline inflation is expected to stay north of 3% due mostly to higher energy and food prices
• Core inflation is “slightly” higher than anticipated, owing to “persistent strength in the prices of some services”
• Core CPI to remain around 2%
• Total inflation expected to return to 2% target in middle of 2012
• Economic expansion proceeding “largely” as projected
• Canadian growth still expected to re-accelerate in the second half of 2011
• “Growth in household spending is now projected to be slightly firmer, reflecting higher household income” relative to April projections
• Bank forecasts “assumes authorities are able to contain the ongoing European sovereign debt crisis, although there are clear risks around this outcome”

What does all this mean to you the everyday consumer?

Well from my Point of View it means that the Prime lending rate is going to stay where it is for the time being and probably through to the first quarter of 2012.

That can mean substantial savings for those in the Variable rate products of today.
Take this quick example of savings on a $100 K mortgage for ease of calculations.

Today's best fixed rate is 3.79%. on a 100 K mortgage that is a payment each month of $514.69.
That is further broken down to $201.33 in Principal and $313.36 in Interest each month.

The variable product is at a going discount rate of .75% or 2.25%.
This works out to $435.61 each month
That is further broken down to $248.98 in Principal and $186.63 in Interest.

If the rate for the Variable stays where it is for the next 6 months into 2012 like they are predicting, then here is what you would save:
- The principal amount which pays your mortgage balance down each month, you would put an extra $285.90 into your mortgage
- The interest savings over the same period is $126.73 per month or $760.38 over 6 months.

there are further savings to be had if this particular mortgage product is set up properly by your trusted mortgage advisor.

Ask them about using the Variable but setting it up like it is a fixed rate product.

Until next time....


Kevyn

Why we don't get more referrals?

Today I wanted to share a blog from a guru in the sales industry.

Mr. Jeffrey Gitomer.

It is a great follow up to one I penned earlier in the week.

Enjoy....

The definition of “referral” will surprise you, and at the same time make you understand why you don’t get as many as you expect or ask for.

The definition of “referral” is: Risk.

Do you ask for referrals?

Do you get as many as you think you should?

Why do people hesitate when you ask?

Why do people not give them to you, or put you off?

Why do YOU hesitate to ask?

Maybe you feel awkward asking because you really don’t feel that you’ve earned the referral yet.

Here are a few questions to ponder if you didn’t get what you asked for:

Did they like you enough?

Did they trust you enough?

What did you do to deserve it?

Did you deliver more than promised?

Did you serve them at the highest level possible?

What did you do that was memorable?

What did they risk by giving a referral to you?

Giving a referral is a risk. Is your customer willing to take that risk by referring you?

Are they willing to risk a friendship or relationship they have by referring someone to you?

Or more powerfully stated, WHEN are they willing – at what point in your relationship with them would they be willing to risk a friendship or relationship they have with someone else, by referring them to you?

Here are a few deeper questions to ponder if you didn’t get what you asked for:

What have you done to both earn the trust of AND reduce the risk of your customer? If “not enough” is the answer – then it’s probably the amount of referrals you get.

REALITY: You are NOT going to get great (real) referrals without a high level of comfort, a history of performance, and deep level of trust.

Referrals are the highest percentage sales call in the universe. Would you rather have 100 cold call leads or one referral? Just checking.

Referrals are not magic, but they sure make selling seem like it – you make more sales when you have more referrals.

Everyone wants referrals, BUT few are willing to do more than ask to get them – and some salespeople don’t even do that. There’s a way to get more referrals than you thought possible – but there are some hitches, one of which is hard work on your part.

What’s the best way to get a referral?

Don’t ask for them; earn them!

PICTURE THIS: You walk into your best friend’s house and say, “Mary could you do me a favor? I’m looking for some new friends and I was wondering if you knew anybody like yourself that you could refer me to, and oh by the way I’m going to be selling them something. And if you wouldn’t mind doing an introduction for me, I’d really be a happy about that. And oh by the way, thanks.”

Doesn’t that sound ludicrous? Doesn’t it seem imposing? Doesn’t it even border on rude? And your friend may even agree to do this for you, but in the end when it comes time to put up or shut-up, their list will be very short. Maybe even empty. Yeah, yeah that’s it. Empty.

And you can be an even bigger jerk by calling them up pretending to like them, by saying “And speaking of referrals, how about those friends I asked you about the other day?”

What I have just described for you is what 99.9% of all salespeople do when they ask for a referral. And it is obvious from the above example that they are 100% wrong!

Anyone who asks for a referral doesn’t get it. A referral isn’t something that you ask for. A referral is something that you earn. Oh sure you can ask for them, but it makes everyone feel awkward and will oftentimes destroy a budding relationship.

Read the rest of this post here: http://EzineArticles.com/6391873

Until next time...

Kevyn

This is where referrals come in handy....

Here I am, on the day we get the keys to the new Office space, still pondering where to get furniture and a few other things.

The fact I am scouring my network for Referrals, got me thinking.

Considering there is an opportunity here for one of my friends or family members- or even someone overhearing one of the many conversations Chad and I have had on this- to give us a referral, where do I proposition myself in regards to this?

I wanted to post again on the importance of referrals to my business.

How much each one means and how we treat those referrals is of so much importance.

We here at Aegis have a vested interest in making sure everyone we serve is completely satisfied at the end of our transaction together. All we ask is that while we are working for you, we would like you to refer use to great people like yourself, who would appreciate the level of service that we always provide. As long as you and my other clients continue referring us, we don’t have to go out prospecting like everyone else, and I can do an even better job working for you. I know that if you are not happy, you won’t refer me to your friends and family who are in need of my services. Since referrals from people like you are my primary source of new business, we don’t just want to meet expectations; we want to exceed them. I know that’s the kind of service I appreciate myself, and that’s the service I am proud to deliver.

I want to build a community of relationships, not just a list of past clients. That is why we devote ourselves to serving the needs of our clients before, during and after each transaction. Many peoples’ biggest fear is that communication with their service professional will end once the deal has closed. After your transaction is complete, you can expect to hear from me each month as I continue to provide relevant items of value to you and your family. Also, should you have a need for a particular trade or service, I have a list of excellent providers that I can recommend.

We want you to know how much we appreciate you.

Does that make any sense?

I'm not preaching to the choir here. What I want to make clear is that we value a relationship more than the transaction. We are Family based and continue to keep the ethics and morals in place that we were taught when we were younger by our parents. It is a cut-throat business and sales are important don't get me wrong, but we have values and standards and we strive each and every day to uphold these and strengthen our bonds with each new client that we encounter.

 

What another gorgeous day here in Richmond...might have to pull out the slip and slide this afternoon and race the kids and Uncle Chad....

 

Kevyn

It has been a while

Welcome back!

Well that is more for me than you guys.

I have to admit I was heartbroken when the Canucks lost. Maybe I was too attached to the team, maybe I believed too much in how we were destined to win it this year.

It took me a while to get past and feel like writing again. Silly...I know!!!

I guess I got all caught up in the emotion of it all, and boy does the come down to reality hurt.

In being truth full, I put my heart and soul into everything I do.

That is why this business is so rewarding for me. I love to see the Happy ending per se.

I love it when I can help others out in any manner possible. Given the opportunity to go above and beyond my call of duty I will always do so.

Hence me writing today.

In the beginning I never really defined why this blog happens.from time to time I will write heavier posts then some of the other ones I pen. I also try to keep it as light as possible while still getting the message across in a manner that is easy to understand.

And by all means if you have any feedback on anything I write or would love to contribute a post every now and then I am going to start adding guest posts every now and then to give you another insight into this always changing landscape of Mortgage Financing.

Do you have a guest blogger you would like to see?
If you have a subject you would like to have me post on, for those of you who know me well, I am always obliged to offer an opinion.

Please send me any suggestions to my always handy email box at koyhenart@shaw.ca

for that matter, check out this link. It is what I do for my clients and why I do it.

http://kevynoyhenart.ca/profile

Enjoy this beautiful Monday morning, unless you choose otherwise.

Kevyn