Armstrong Capital Newsletter
August 2009
Jeffrey R. Armstrong
President of Armstrong Capital
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Hello! We are now in the middle of summer and things usually slow down a bit until people get back from vacations and kids go back to school in September. Traditionally, September has usually been one of the best months for me as far as responses and deals started. Which makes August the perfect month to review the year so far and begin to gear up for a great ending to the year. So make sure your marketing is in place for September and be ready for some fun!
This month I want to touch on Negotiating some more because getting the note holders to call is one thing but getting them to say yes is another. People buy (or in our case sell their notes) based on emotion. It's your job as the note broker to trigger those emotions to create interest because after all interest equals opportunity.
Initial Benefit Statement - An explanation of what you are offering, what it means and why anyone should care - in the exact opposite order.
Why should
someone consider buying your product? Why should they take the time to hear you
out, let alone meet with you?
If you don't believe in your product
or your services, no one else will. But believing in what you offer goes beyond
having a good mental mindset. Being able to articulate in a clear, concise
manner is essential to succeeding as a note broker.
You must be able to state your
initial benefit statement as a universal message. Having a "scripted" commercial
explaining how you can help others from the onset is critical to your success.
If you are at a networking
event, your initial benefit statement should intrigue others so they will chat
with you rather than move on to the next attendee. When you speak on the
phone for the first time to someone, tell them why they should care.
If you were from Publisher's Clearing
House and your job was to visit businesses to give them checks for $1 million,
do you think top company executives would stop what they are doing to speak with
you for a moment? It would depend on what you say.
If you say to the first person you
meet, "I'd like to speak to So-and-So," without identifying who you were and
your purpose, it would be hard to get an audience with a top executive. Wouldn't
it?
Features
Identify what you have in your
arsenal, what you physically offer.
For instance, at Armstrong Capital,
our services include the purchase and sale of first position seller financed
notes on the secondary market. We offer a multitude of lump sum cash
options for the note holder by purchasing all or part of their income stream to
custom tailor an exclusive transaction to meet their specific needs.
Some might say a "multitude of
options" or "custom tailor" are benefits. But these are merely types of
services. While other companies offer generic full purchase options to the note
holders, we create an exclusive purchase option designed specifically for a
particular note holders situation.
Advantages
In any note purchase opportunity
three outcomes are possible, not two:
The note holder can either accept
your service (your pricing options), accept your competition's service, or do
nothing - and make no change.
The advantage is why your feature
will make their current situation better than it was before- from the note
broker's perspective.
A critical difference between
advantages and benefits is that an advantage is your interpretation of why a
feature is better, not the prospect's.
For instance, an advantage of
Armstrong Capital's multitude of options is that now the note broker can control
their own destiny.
While some may ask if that's a
benefit, who says controlling your own destiny is always a good thing? Sure, we
think it is, but perhaps a larger company has a system in place, where they
don't want note brokers thinking for themselves, crazy as it sounds.
Benefits
Benefits answers the age old
questions customers ask, "What's in it for me?"
A benefit is how your service will
help your customers. It's a "translation" of the features and advantages to fit
the individual prospect.
Knowing and being able to verbalize
benefits of your product separates you from your competition.
Knowing benefits makes you a
professional, not just another note broker. For instance, the benefit of each of
our features at Armstrong Capital is three fold:
- Offer Seller financed note holders
liquidity
- Offer unique and competitive
pricing options
- Quick, professional and thorough
closing and funding
Your turn,
when you are ready:
1. Write 10 features of your product and company
2. Write 10 advantages of these features
3. Write 10 benefits of these advantages
4. Compile them into an initial benefit statement for yourself
People can't be interested in what they don't know exists.
Have a wonderful August! Talk to you next month! Keep on marketing, it’s going to work! TWITA!
Jeff Armstrong
P. S. - For the FIRST TIME EVER I am bringing my sought after 3-day live Secrets of Paper workshop to the East Coast! We will be holding it the weekend of September 18-20, 2009 in Atlanta, GA! You asked for it, now it is happening! For those of you who have been asking me to come to the East Coast now is your chance to step up and attend. Formal announcements will be on their way to you shortly but sign up early because this one will fill up fast. For more info and to register just go to Secrets of Paper! See you there! TWITA!
Jeff's Speaking and Instructing Schedule
Location Date Event (click for info)
Atlanta, GA September 18-20, 2009 Secrets of Paper
Glendale, AZ October 5-9, 2009 Nouveau Riche
Contact Jeff today for information about having him Speak or Teach to your group!
Note Business "Rainbow Package"
All newly redesigned and completely updated for 2008 the total "Rainbow Package" of Jeff's books including Scripts and Tips (with new industry documents disc), Every Single Profitable Note Marketing Idea In The World (almost) (with Note Holders Handbook on disc), Personal Cash Flow Prosperity (with 2 audio CD's), the Note Holders Handbook and the Glossary of Real Estate Note Terms. Purchased separately you would pay $216.22. But today you can get all 5 of Jeff's cash flow books for only $175.00!
So, you think you want to be in the note business? Then you need to learn the reality of the business step by step in the Secrets of Paper 101 - Audio Disc Set - A complete recording of the live SOP 101 beginner's workshop with workbook plus + click here for more info
Only $99 if you order it through this email (regularly $149)!
Jeff Armstrong is President of Armstrong Capital and was the Editor of the NoteWorthy Newsletter from 2006-2008. He is a member of the Million-Dollar Club, a Master Broker/Buyer, visiting instructor for the American Cash Flow Institute, Instructor for Nouveau Riche and the author of several best selling industry books. He can be reached by calling 800-845-3055, faxing 818-865-2323, e-mail jeff@armstrongcapital.com, or visit www.armstrongcapital.com and click on "Note Brokers" for answers, articles and information about his Master Broker services and how Armstrong Capital can help you succeed.
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