Armstrong Capital Newsletter
February 2009
Jeffrey R. Armstrong
President of Armstrong Capital
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Happy February! I hope your year has started out with a bang! J The note business is ringing true with my predictions from last month with a couple of new investors and note buyers stepping forward and the responses to my marketing increasing as well. With our marketing working efficiently and the responses pouring in I wanted to briefly touch on the art of negotiation this month.
In all aspects of life, we’re negotiating. We negotiate when we’re in business – whether it’s with note holders, investors, funding sources or associates. We negotiate with our family members – over big things and small. We negotiate when we buy or sell.
Most of us think of negotiations as “zero sum” games – what one side gives up, the other side gets, and vice versa. Maybe that’s true if you are never going to do business with, live with or be friends with the person on the other side again. This is the transaction view of negotiations.
For most of us, however, negotiations are just one aspect of ongoing alliances. You’re still going to be talking to the note holders and investors, you still want to use your mechanic, and you still want to have a pleasant dinner with your family. In these negotiations, we recognize that, sure, we want to get what we want or need. But the person on the other side had better feel like they are being treated fairly, too. That’s the relationship view of negotiations.
Negotiations are far more likely to succeed when both sides have the same attitude.
For instance, if both parties in a negotiation are transaction-oriented, the negotiations may get heated, but everyone’s likely to understand that’s just part of the process and not take it personally.
And if both of you are relationship-oriented, you’re almost certain to be able to reach an amicable and fair agreement. You may have to give up something more today, but the other party will be willing to give up something more tomorrow. You’re both able to take the long view, recognizing that the relationship itself has value.
The worst negotiations are when two parties have differing viewpoints. If one of you is concentrating solely on the transaction (“what’s in it for me?”), while the other is also concerned about the relationship (“what’s best for the both of us in the long run?”), it’s a recipe for anger, frustration and probably a long and unpleasant negotiation.
The best business people recognize the value of approaching their negotiations from a relationship point of view. After all, it’s very costly to have to find new customers. The best personal relationships are built on that approach, too.
In the note business you’re negotiating starts on that first phone call, building the relationship and rapport, finding the need and getting the story behind the note. When you take the “relationship” approach you set yourself up for future referrals from that one note holder and even future proceeds from that same note holder (think partials). TWITA!
Keep on marketing, it’s going to work! J
Jeff Armstrong
PS - The Secrets of Paper 201 Workshop in LA on March 13-15 is filling up fast. Discounts are available; call or email for details!
Jeff's Speaking and Instructing Schedule
Location Date Event (click for info & registration)
Agoura Hills, CA March 13-15, 2009 Secrets of Paper 201
Glendale, AZ April 6-10, 2009 Nouveau Riche
Glendale, AZ July 13-17, 2009 Nouveau Riche
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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