Are you wondering what the future holds for your business? Whether you want to predict your future or prescribe an outcome of your choosing, you'll have plenty of company!Throughout history, we humans have tried many ways to predict the future, from reading palms to stargazing. Today, we refer to these as descriptive methods when we attempt to describe objectively what the future will be or could be.On the other hand, prescriptive methods focus...more
The mortgage crisis has had a negative impact on everyone, not just homeowners. Elected officials are working hard to pass legislation that is designed to prevent future banking debacles. Unfortunately, history has proven that when legislators over-regulate banks that it tightens the reins on lending. This is done by raising the bar on what it takes to qualify for a mortgage or installment loan. Predictably, it's the middle class that will feel...more
The three most frequently used methods to resolve foreclosure are loan reinstatement, forbearance agreement, or loan modification. While there are numerous other specific ways to stop foreclosures, these three are used most frequently.1.) Loan reinstatement is where a lender has started the foreclosure process and the homeowner finds a way to pay back or "reinstate" the entire deficiency owed. The deficiency amount includes back loan principal and interest payments, accelerated interest costs, attorney's fees, assorted processing and collection expenses, and late penalty charges. This technique requires the maximum amount of money all at once. Ironically, lenders recently indicated that pre-payment penalties may be included into final judgments in the near future. When the homeowner's reason for the delinquency is resolved, he usually asks the lender to take partial payments because he can't get the entire deficiency amount together. However, the lender will not accept partial payments and the foreclosure will proceed if the full reinstatement amount isn't paid. The reason for this is simple, the lender knows that the homeowner's chance of getting out of, and staying out of...more
When a foreclosure is finished and the home is sold or assessed by an appraisal, for the loss on the mortgage, the deficit amount the bank will not get back from the mortgage balance and expenses due, is called a deficiency. In most states, the lender has an option to get a judgment in this amount against the borrower and this is called a...more
This article is a plea for something I call Creangelism, or creative evangelism. Let me explain.I speak at the coolest creativity conferences in the world.* It's incredible fun speaking and being with people who believe in the power of creativity and creative problem solving. Walking around the meetings I am empowered by the lack of judgment, the...more
I remember attending a meditation workshop with Mark Epstein, a well-known 'Buddhist psychologist.' He told a story about a meeting he had with Ram Dass, spiritual teacher and author, where Ram Dass had asked Mark Epstein about his work with his patients. As Mark talked about his work, Ram Dass interrupted him and asked, "Do you see them as already healed?"I was so struck by this story. As a coach and healer of businesses, I saw the clarity in this question. So often as solo-service professionals it is easy to focus on our success by looking at ourselves (what we are doing, creating, visualizing, etc.), but the results are incredible when we turn the focus on those that we serve.What do you see when you look at your clients or customers? Do you see failure or success?When I worked as a high school teacher--in moments when my students were working on their own--I would say to myself, "The light in me sees the light in you." I really felt that. I could see my students succeeding long before they could see it or could even venture to believe it. However, I knew as their teacher it was my duty to hold that vision and energy for them and then guide them through the action steps of...more
You want more revenue and you want it fast. The marketing experts tell you to "create a compelling offer." You immediately think "Sale." You wonder how big the sale should be. How much can I afford to give away before the sale starts costing me...more
Many companies and their decision-makers require written proposals, and if you are like many sales people, you probably shudder at the thought of this request. However, writing a good proposal doesn't have to be painful providing you keep a few...more
In any business endeavor, a win-win outcome is always the most satisfying and productive. It certainly beats the alternatives - win-lose, lose-win, or (heaven forbid!) lose-lose - in which one or both parties walks away feeling an assortment of...more
I could make up a terrific story about this, but I won't lie - I had avoided (as in postponed, side-stepped, procrastinated) having a board of directors until now. Frankly, I had visions of having a group of old, cranky, humorless men telling me what...more
Have you ever been asked that question?I was! Back in 1979 while doing a "pressure cooker" course on selling with an insurance company!I wondered how relevant that question was, considering my personal and financial situation at the time.No wife! No...more
Sales turnover and net profits may follow a rollercoaster pattern familiar to most business but when the cash flow dries up the game is over. Urgent attention to the management of working capital can provide every business with the cash resources to...more