Wednesday, October 28, 2009

What language do they speak?

Assume right now that everyone you speak to has English as their native language.  What language do they speak?

This is sort of a trick question.

You see, you may not know that with English as a given there are four information processing styles or languages.

Have you ever presented to someone and just saw the deer in the headlights?  Unless you were speaking way to technically, then more than likely that person didn't speak your language.

You see, there are Einsteins, and Accountants, and Rainmakers and Process people.

Einsteins like their name sake tend to see things that others don't and tend to connect dots that others don't.  They are very innovative.  Their negative point is seeing connections that aren't really there like taking a statement personally when it wasn't meant that way.

Accountant types tend to analyze everything, think a long time and then act.  They are very good a planning based on the limited information they have.  Their negative is not seeing the big picture and thus planning down a rabbit hole.

Rainmakers tend to be "ready, fire, aim" people.  They excel at action and tend to get alot of things started.  They are your typical natural entrepreneur.  Their negative tends to be impulsive actions without any check and the tendency to over sell more than what a company can deliver.

Finally, Process people do well with logical instructions.  They are like trains on a track.  Point them in a direction and they tend to balance think and do very well.  Negatively speaking, they are like a train on a track and they are hard to get off the track or stopped in an emergency.  They are usually the one who knows they have to be at church at 11:30 only to be folding that last piece of clothes to step out of the house at 11:30.

Neither processing style is "right" or "better".  All have their place and balance another.  Rainmakers and Analyticals balance out.  Processors and Einsteins balance out.

No one person is typically not just one processing style.

So, are you speaking their language?

Gary Salton is the creator of this and we love his stuff:
http://oeinstitute.org/selling-with-style.html

Eric Standlee

Tuesday, October 27, 2009

10 Huge income creating startup business tactics

The economy is tough!  Who would start a new business in this environment?  The answer is a savvy business person who understands that when others are afraid there are greater opportunities.

Retail economics continue to look bad, however business-to-business (B2B) economics have huge potential.  Startup entrepreneurs looking for niches in B2B industries will find competitors cutting back on spending and staff in order to survive where the entrepreneur can innovate and excel as long as they have the right form of funding.

The following 10 income creating startup business tactics should help entrepreneurs see light at the end of the tunnel:
  1. Find a business-to-business idea.
    Mistaken entrepreneurs dive into retail in a down economy.  Giants in these areas have pressed their costs down to the limit and competitive startups struggle to compete.
    Instead, smart entrepreneurs realize that larger businesses who are letting off key employees to cut costs still need the services provide so they create startups to service these needs.  Great B2B industries that need refreshing exist.  Trained eyes can see it.  Talking to former executives in transition should shed light on such niches.
  2. Find a B2B industry that hasn't been refreshed with the latest technological tools where you can dramatically increase value.
    In typical niche life-cycles, 10 or so competitors fight it out to see who will deliver more value for less cost until 3 or so survive.  By the time such companies are in survival mode in a down economy, they have put off innovation because of larger relative costs.  However, grabbing available talent now in transition and starting a new B2B firm in those industries with alternative funding and new technology allows the entrepreneur to be ultra-competitive.
  3. Bootstrap and start lean
    Smart entrepreneurs know that in this financial climate getting a line of credit of loan from a bank for a startup could not be harder, so they get to revenue as soon as possible. They fund their grow with business development driven revenue and not selling equity dollars.
  4. Dramatically Increase Value
    With new tools that older companies in that industry haven't implemented or don't even know about, entrepreneurs are able to drive down costs and make more profit on competitive prices.  For instance, older manufacturing firms are heavily invested in the equipment they have now, but lean bootstrapping entrepreneurs can invest in new tech and executives with much experience in that industry.  It might be the difference between traditional printers and digital on-demand printers.
  5. Setup your startup to maximize use of alternative funding options
    Setup correctly, the invoicing and contract procedures can work for or against a startup.  If setup right, these same procedures can be optimized to work well with alternative funding sources.  The company can go after the type of clients that would make them fundable.  They can write contracts and sign up clients to make alternative funding work better.
  6. Fund only what you need
    When optimized for alternative funding, a startup can tape their assets when they need and not have long-term debt nor give up equity to grow.
  7. Utilize flexibility of alternative funding that grows with your company
    Startups might work 6 months to land a large deal only realize they don't have the cash flow to take the deal.  Alternatively funded startups and small enterprises can woo that business in confidence that they are optimized to be able to cash flow enough to excel for that client too grabbing the higher end of markets previously only touchable by much older and highly capitalized firms.
  8. Do what you do best and let the alternative funding firm minimize your cost of collections
    Collections normally doesn't fall under the expertise of entrepreneurs, yet they spend precious time and energy in collections trying to hurry large clients to pay early so they can pay taxes and payroll and suppliers in time.  Alternative funding optimized firms know that their funding source knows how to collect faster and that they aren't tied to waiting however long that client takes to pay.
  9. Tap alternative funding to avoid cost of lost opportunity
    Again large deals that might be impossible for cash strapped companies present no problem to firms optimized for alternative funding.  They can rest assured they wont miss out on the large deals with long sales cycles because they cannot afford the wait.
  10. Leverage your client's credit to fund and grow your business
    These firms know that while they don't have enough history or might even lack good credit, their funding isn't dependent on this.  Instead they go after large firms that might take longer to pay but which have good credit because they know they will get funded.  They also know that new clients will be pre-approved before they do any work for them minimizing the cost of wasted effort.
Now is not the time to hide from startup opportunities.  Now is the time for entrepreneurs to grab opportunities.
 
                 10-Reasons Companies Use Alternative Funding                

1. Significantly increase the cash flow of your business
• Earned cash is-available for qualified receivables in as little as 24-hours.

2. Use readily available cash to grow your business
• Funds generated by factoring can be used for new equipment acquisitions, inventory purchases, marketing expenditures/ facility improvements, etc. that otherwise may not have been feasible when you needed them most.

3. The process is very efficient and reliable
• Once approved, our clients trust American Prudential Capital for a userfriendly approach to doing business each and every month. Payments to our clients are dependable because we understand what a predictable stream of cash can mean to the life of any business.

4. Use what you need when you need it
• There are NO required monthly minimums for factoring and no long-term obligations. We recognize that factoring should be a "bridge mechanism" to more traditional financing and that typically our services are a season in the life of most businesses. Our contract is month-to-month because we earn your business.

5. Capital availability is flexible
• Factoring is the only means of business financing that can grow proportionally and immediately with your business as you need it.

6. Minimize internal costs associated with collections
• Your company will spend less time on collections since we take on most of this task. Thereby, you can focus more of your efforts on higher value-added activities such as sales and production.

7. Better knowledge of your customer's credit
• We are extremely proficient at verifying your customer's credit and ultimately their ability to pay your invoices. This enables you to make more informed decisions on where to target your efforts for the greatest gain and minimize your bad debt write-offs.

8. Leverage your customer's credit rating
• Your customer's good credit rating is one of the strongest assets you can have when factoring. It is their positive history as much as anything that makes this process work for you.

9. Factoring is not a loan
• No debt is created when factoring so there is NO negative impact on your financials. You are not using long-term debt to satisfy a short-term need for cash. This increases your appeal to traditional lenders because factoring creates cash in your bank account and not debt on your Balance Sheet.

10. Take advantage of early payment discounts to suppliers
• Minimize some of your factoring costs by leveraging supplier offered discounts for early payment and simultaneously increase your credit rating.

                 Find out what others think about working with us below                

What do our clients say about American Prudential Capital?

"As a subcontractor in the Commercial Construction' industry for nearly 12 years, I understand how difficult it can be to survive in a competitive market which is characterized by seasonal fluctuation and increasing demand for strong performance. My association with American Prudential Capital has been a lifesaver for my business. Not only have I received the financial assistance that I needed, but my good friends at APC have been there to help me make right decisions for our company. What I discovered by utilizing their service was that they truly care about their clients and want to help others succeed.' The degree of integrity with which APC conducts its business is unsurpassed. I trust them completely and I would highly recommend their services to any organization."                                               
                                                                   
Gary Carville - Commercial Care Services, Inc.

"American Prudential has been factoring Allrail invoices for over a year. They have been absolutely great to work with. Very simple process administered by a solid group of professionals. I have no reservations about referring this company to anyone."
                                                  
Tom Morgan - Allrail Services, Ltd.

"We have been associated with American Prudential Capital using their invoice factoring services for over 7-years. Their helpful and dedicated staff has been a great asset to our business. The invoice factoring services are a great help with our cash flow which enables us to receive payment for our services within 24-hours after delivery. This helps us to manage our material costs for new orders and meet the needs of our customers."    
                                                                             
Larry and John Haller - Custom Welding & Fabrication




 

Monday, October 26, 2009

UPDATE: Cometomyhouse.org

My favorite charity/ministry/non-profit that I support with gifts as well as by telling everyone I know cometomyhouse.org has an Update.

Please consider what you can do to help the orphans and widows in Africa and India.

Thanks Arch for the update:

Hi Eric
We have 5 homes full of kids, 2 widows homes with 38 and 44. Jacob is building one in Botswana for 1000 orphans and have 3 more starting this year. Thank for your support and for spreading the word!
Blessings
Arch
ps I will be traveling to the most dangerous country on earth this winter but I will not be able to talk about it until after I get back

Do you know a church of 100 or more who would like to hear Arch talk about Noah's Ark?  Let me know and I will get word to Arch.  He wants to speak to large groups about that.  It would be nice if he could have the opportunity to share about cometomyhouse.org as well.  Can you help get the word out?

Watch the videos on

Saturday, October 24, 2009

Hacking Higher Education

Loved this!  Gotta share.

Eric



  
 
The Personal MBA Insider - Blog Update
 
 
Hacking Higher Education, Part 3: How Mike Stankavich Earned His Bachelors Degree in 9 Months

Here's the story of a real-life higher education hacker: Mike Stankavich, who earned his bachelors degree in nine months.

Hacking Higher Education, Part 3: How Mike Stankavich Earned His Bachelors Degree in 9 Months


Epic Battles Sought by Man

Why do I let you bury me?
You fight my every turn.
There ain't no use hiding from this,
Fear wont guide my ship.

Down through the ages,
Man fights epic battles.
Nothing prepares him,
For where the real fight is.

Down in the shadows,
Success evades capture.
The real battle rages,
Right up to the rapture.

Its a fight for the souls of man.
Love has crossed the chasm.
No matter the circumstances,
The victor has already triumphed.

Yet, day by day I struggle.
My shadow beats me up.
Afraid of what might be,
It jeers against my inheritance.

From dawn till dust through sweat and tears,
Meaningless as it seems.
Huge hands of battle threaten,
Threaten to tear me apart.

But, the champion of my soul has won.
He's the last one with a loaded gun.
Blindness keeps it from me,
And the fight goes on and on.

Down through the ages,
Man fights epic battles.
Battles already won now,
Give it all to Him.

Smoke and Shadow burst open,
The Victor roars on through.
He's won the battle for me,
Now I see it too.

It was in giving up where the fight was.
It was in letting go to Him.
That's it, that's the secret.
It's already in his hand.

By Eric Standlee

Friday, October 23, 2009

Fwd: Sales Intelligence: The Secret to Sales Nirvana

This is a quote from a recent CRM Magazine article.

This is why I recommend even small firms find and use a good flexible CRM package.  It enables them to gain intelligence on their sales and marketing so they can see real trends and analyze real cost/performance/roi trends.

The phrase "Sales Intelligence" refers to those sources of information that your company can use to improve the effectiveness of its sales force and enrich the quality of leads in your sales pipeline - leveraging external insight to boost sales productivity.

But how are best-of-breed organizations using Sales Intelligence to optimize their selling motions?

Learn how by downloading the Aberdeen Group's groundbreaking Research Benchmark,
Sales Intelligence: The Secret to Sales Nirvana.

This complimentary piece provides best practices for enabling sales excellence through the use of Sales Intelligence. Injecting Smart, Fresh and Complete information into existing sales processes enables reps to contextualize lead follow-up - and call the right prospects at the right time.

In fact, according to Aberdeen, here's how Sales Intelligence affected the year-over-year performance in best-of-breed companies:

      • 82% Increase in Revenue Per Account
      • 74% Increase in Bid-to-Win Ratio
      • 69% Increase in Average Opportunity Deal Size

We hope you find this Aberdeen Research Benchmark valuable as you build out or improve on your own organization's Sales Intelligence strategies - maximizing sales productivity and accelerating sales cycles; ultimately driving higher volume sales, higher value sales and higher velocity sales.

Ask me about my CRM solution.

Eric Standlee

Thursday, October 22, 2009

Even I have been confused by this Net Neutrality stuff

McCain has made it clear:

McCain Bill Would Ban FCC Internet Regulations

PC Magazine - Chloe Albanesius - ‎50 minutes ago‎
Just when it seemed like net neutrality stakeholders had reached a cautious consensus on Thursday's proposed Federal Communications Commission rules, our favorite maverick stepped in with an idea of his own.
Reuters - CNET News - ChannelWeb - InformationWeek

Tuesday, October 20, 2009

Small Businesses create 2/3s of new jobs

I am very dedicated to the creation of new jobs through the creation of new small businesses and funding of emerging and burgeoning businesses.

Funding is available for business-to-business commercial firms in but not limited to these categories:


  Here's a list of industries we like
Accounting & ConsultingFabrication: Pressure VesselsMasonrySafety Services & Equipment
AdvertisingFence Installation and Repairs Medical StaffingSales & Installations
Apartment ServicesFine Linen RentalMetal FabricatorsSecurity Alarm Installation
Apparel DesignFire Alarm Installation Manufacturing - Metal Strainers and FiltersSecurity Guard Service
Asbestos & Lead AbatementFood ServicesManufacturing Oilfield ChemicalsSeismic Drilling
Audio-Visual Design/InstallFormat Digital Printing Manufacturing Personal Care & Gift ProductsService-Environmental
Belt Press - Sales & ServiceFrozen Food ProductsManufacturing Sew Cleaning EquipmentServices to Mortgage Lenders
Blasting and CoatingGen.Contrctr-Civil, Paving/Draining Manufacturing, Furniture Design, ImporterSheet Metal Fabricator
Building MaintenanceGeneral Contractor - PaintModular Building TransportSign Installation
Cabling - CommunicationsGov't Contracting Services Natural Disaster CleanupSite Preparation-Construction
Cabling - TechnologyGraphic Arts FinishingNatural Gas ContractorSoftware Development & Design
Calibration ServicesHealth Care Services Natural Stone DistributorSoftware Development - Oilfield Services
Carbide FabricatorHighway MaintenanceNetwork IntegrationSoil Remediation Services
Chemical SalesHose & Fitting Fabricator Non-destruct Testing & Inspec. SvcsStaffing
Chemical SolventsHVAC Sales and ServiceOffice Furniture Sales & ServiceSteel Erection
Commercial Aircraft Parts Supplier Hydraulics Sales & ServicesOffshore constructionSteel Fabrication & Fiberglass Construction
Communications Fiber OpticHydroblasting at a refineryOffshore Crane Service & Maintenanc Structural Restoration & Maintenace
Communications InstallationImport & Distrib - GroceriesOil & Gas EquipmentMasonry Supplier
Computer ConsultingImport/Export Industrial Oil & Gas ExplorationSupplier Commercial Aircraft Parts
Computer Hardware & SoftwareImport/Export-Broker ServicesOil and Gas Sales-PipeSupplier, Tech Personnel
Computer Software & Services Indust. Power Transmission Distrib.Oil Field Pipeline ServiceSurveying and Engineering
Concrete Construction Industrial MaintenanceOil Field Services System Integrator
Consulting and Training Industrial SuppliesOil Tool Rental & Manuf.Systems Integration
Consulting/Recruiting Information TechnologyOilfield Equipment Sales & Mfg. Technical Staffing
Contractor - Utilities Information Technology StaffingOilfield MaintenanceTechnical Support
Contractor-Interior Buildout Inspection, Maintenance & Repairs Oilfield ServicesTechnology
Corrosion Inspection & EngineeringInstallation of Cryogenic EquipmentOverhead Crane RepairTelecommunications
Counseling StaffingInternational Oil & Gas Parking Lot MaintenanceTelecommunications Service
Custom Embroidery, ScreenprintingJanitorial ServicesPersonal Care ProductsTemp Agency - Physical Therapy
Custom Welding and Fabricating Lamp ManufacturerPersonnel ServicesTemporary Medical Staffing
Delivery ServiceLandscape & Nursery ServicesPipeline MaintenanceTemporary Staffing
Design/Mfg/Sale of Wool RugsLawn Maintenance Pipeline SurveyingTower Construction
Direct MarketingLegal servicesPolymersTower Telecommunications
Distributor Janitorial SuppliesMachine Shop & Metal Fabricators Precision Sheetmetal FabricationTransport- trucking
DistributionMaintenancePre-op clean techno for power constTransportation Broker
Distributor of Home Furnishing ProductsManufacturer - Glass Block Process Honey for BakeriesTree Farm
EDI ServicesManufacturer/Recycler: Wood ReelsProduce ShippersVaccuum Truck Services and Rental
Electrical Apparatus Sales & Repair Project Management ServicesProperty Preservation ServicesVacuum Truck - Septic Cleaning
Electronic Manufacture & Repair Promotional MerchandisingPublishing of Computer Games Valve Supply and Repair
Emissions Testing Manufacturer: CabinetsRailcar Inspection and RepairVegatative Erosion Control
Employment StaffingManufacturer: ChemicalsRebar Installation Ventilation Services
Energy Conservation Manufacturer: Chemicals & Motor OilRecruiting - StaffingWaterproofing
Engineering Manufacturer: Component CoatingsRECRUITING SERVICES Wholesale Furniture Distribution
Engineering/Oil & GasManufacturer: Countertop & CabinetReselling Computer EquipmentWholesale Home Furnishings
Engineering/Telecommunications Manufacturer: Plastic BagsRestaurant and CateringWholesale Importer
Enterprise Software CompanyManufacturer: Rubber & PlasticRight of Way and Site AcquisitionsWholesale Oilfield Supplies
Environmental CleanupManufacturer: Sausage Risk ManagementWholesale Trade
Environmental EngineeringManufacturer: Vehicle Security  
Environmental Remediation Manufacturer:Machine Vision Systems   
Environmental Services Manufacturing & Installation AC  
Environmental TestingManufacturing & Service of Presses  
Erosion Prevention Manufacturing- Steel Forgings   
FabricatingMarine Survey Consult & Eng   
     
 


 
                 10-Reasons Companies Use Alternative Funding                

1. Significantly increase the cash flow of your business
• Earned cash is-available for qualified receivables in as little as 24-hours.

2. Use readily available cash to grow your business
• Funds generated by factoring can be used for new equipment acquisitions, inventory purchases, marketing expenditures/ facility improvements, etc. that otherwise may not have been feasible when you needed them most.

3. The process is very efficient and reliable
• Once approved, our clients trust American Prudential Capital for a userfriendly approach to doing business each and every month. Payments to our clients are dependable because we understand what a predictable stream of cash can mean to the life of any business.

4. Use what you need when you need it
• There are NO required monthly minimums for factoring and no long-term obligations. We recognize that factoring should be a "bridge mechanism" to more traditional financing and that typically our services are a season in the life of most businesses. Our contract is month-to-month because we earn your business.

5. Capital availability is flexible
• Factoring is the only means of business financing that can grow proportionally and immediately with your business as you need it.

6. Minimize internal costs associated with collections
• Your company will spend less time on collections since we take on most of this task. Thereby, you can focus more of your efforts on higher value-added activities such as sales and production.

7. Better knowledge of your customer's credit
• We are extremely proficient at verifying your customer's credit and ultimately their ability to pay your invoices. This enables you to make more informed decisions on where to target your efforts for the greatest gain and minimize your bad debt write-offs.

8. Leverage your customer's credit rating
• Your customer's good credit rating is one of the strongest assets you can have when factoring. It is their positive history as much as anything that makes this process work for you.

9. Factoring is not a loan
• No debt is created when factoring so there is NO negative impact on your financials. You are not using long-term debt to satisfy a short-term need for cash. This increases your appeal to traditional lenders because factoring creates cash in your bank account and not debt on your Balance Sheet.

10. Take advantage of early payment discounts to suppliers
• Minimize some of your factoring costs by leveraging supplier offered discounts for early payment and simultaneously increase your credit rating.

                 Find out what others think about working with us below                

What do our clients say about American Prudential Capital?

"As a subcontractor in the Commercial Construction' industry for nearly 12 years, I understand how difficult it can be to survive in a competitive market which is characterized by seasonal fluctuation and increasing demand for strong performance. My association with American Prudential Capital has been a lifesaver for my business. Not only have I received the financial assistance that I needed, but my good friends at APC have been there to help me make right decisions for our company. What I discovered by utilizing their service was that they truly care about their clients and want to help others succeed.' The degree of integrity with which APC conducts its business is unsurpassed. I trust them completely and I would highly recommend their services to any organization."                                               
                                                                   
Gary Carville - Commercial Care Services, Inc.

"American Prudential has been factoring Allrail invoices for over a year. They have been absolutely great to work with. Very simple process administered by a solid group of professionals. I have no reservations about referring this company to anyone."
                                                  
Tom Morgan - Allrail Services, Ltd.

"We have been associated with American Prudential Capital using their invoice factoring services for over 7-years. Their helpful and dedicated staff has been a great asset to our business. The invoice factoring services are a great help with our cash flow which enables us to receive payment for our services within 24-hours after delivery. This helps us to manage our material costs for new orders and meet the needs of our customers."    
                                                                             
Larry and John Haller - Custom Welding & Fabrication




 

Thursday, October 15, 2009

Servant Leadership is NOT for

I speak often on the value of Servant Leadership, giving first, and pay-it-forward mindsets in business, networking, and life.  I am asked by small and very large groups to cover this subject and how combined with social networking it has helped our company drive revenues.

Today, I'd like to cover what Servant Leadership is not for.

First, it is not for takers.  Takers are people who for a number of reasons find it hard if not impossible to give.  Reasons vary from selfish natures, desperation, greed, and bad habits hard to shake.  Whatever the reason, they go to a networking event, shove a card in a person's face and vomit all over them about what they do and what they are looking to find.  They don't even bother to ask about the person they are talking with or their needs because they have 10, 100, or 500 cards that they must get to all of the people in attendance before time runs out.  But, whatever they do, no matter how hard they try, they tend to push people away or turn them off.

Second, pretentious should avoid Servant Leadership.  To them, networking is a waste anyway.  They either know everyone they will ever need to know, or they know how to buy a list of them.  They either refuse to consider even a reciprocal relationship or they find meeting people a waste of time.  Their short-sidedness means that in times of need they must learn how to network.  More often than not, they find themselves in the takers camp then because of desperation.  These people bring nothing to a true pay-it-forward networking event and should avoid them for everyone else's sake.

Third, complainers should avoid Give First events.  They tend to complain about the local sports team, or the weather, or the market.  Their small talk becomes way too large a part of the conversation if there is one.  They typically find complaining easier than listening, easier than caring, and easier than paying-it-forward.  They waste everyone's time because they are off-purpose.

I know well all three of these because I was one at one time or another.

Instead of being a taker, I decided to care.  I decided to listen with two ears and speak with one mouth in like proportion and on-topic and on-purpose.  I decided to step out in faith and believe "give and it will be given to you."  I saw it lived out in the lives of heroes in my life and realized that fear had been what held me back.

I recovered from pretentiousness twice.  Once, I was a geek who didn't like to be bothered by the repetitive questions of "users" (I still am working on this by the way).  I was also tempted by and lured into pretentiousness because I am the son of a very successful business owner and grew wary of those who'd seek to take advantage of me.  Again fear was the culprit and fear tried to drive me off-purpose.

Finally, I still struggle with a positive attitude.  The market can bring me down, or the desperation of the lives around me can affect me.  I find it a steeped battle to keep my mind on good things.  But, I know now that this battle impacts the results in not just my life, but the lives of those around me.  I know that the balance between stark realist and Polly Anna positive should always, always tip in favor of the glass being half full.  Life is already depressing enough if we dwell on it, so I have learned to chose to dwell on thing that are of good report.

Maybe, someone reading this finds them in one of these three camp or another camp I failed to mention.  Maybe they struggle with whether value can be found in Servant Leadership netweaving?  I pray that this article gives them courage.  You two can find purpose in listening more than you talk, being positive, and treating every person as the valuable person they are despite where they are right now.

I will never graduate from this.  I realize that like being a recovering geek on the 12 step program, I will always be on the path of netweaving and Servant Leadership and paying-it-forward.  I can never attain perfection.  There will always be more I can give.  This is the legacy I want to leave behind.

At the last InHouston, my Servant Leadership Netweaving monthly mixer, several people came up to me to thank me for instigating this sort of networking group in Houston and sharing the Servant Leadership mindset.  They shared how they had feared it at first as well, however through perseverance they overcame that fear and persisted until now they enjoy listening, giving first, and finding value in every person they talked to that night.  These people encouraged me and I found assurance that I am being on-purpose in doing this.

To your netweaving success,
Eric Standlee

Wednesday, October 07, 2009

Don't believe all of that marketing hype you see in your inbox

I just got another in a long line of "Just marked down to only $47" marketing strategies of the last 100 years HYPE.

Is that what marketing is all about?  It sounds like say a bunch of things that sound like they could be true as fast as you can see how many people will give you $47 for nothing all over again.

Marketing has changed.  The last 100 years doesn't have any bearing on the next 100 years as far as marketing.  Well, it does, but only to stand as a road sign of what NOT to do.

Marketing, Sales, Business Development, and whatever the new term is have all been changed by social media.

Just like noone has seen anything like 250MM users flock to a college kids 2 week hobby page now called Facebook before, OLD "marketing secrets" are DEAD!!!!

It is about CRED.  You have to earn trust and you don't do that by spamming your friends through every venue.  Push marketing is push away bad reputation mumbo now.

Business development, PR, and Sales now happen because of attraction, transparency and availability.

GET REAL!

Stop fearing the truth and embrace it.

You have to be trustworthy and you have to build trust relationships with EVERYONE.  Gone are the days of hiding behind a fancy site and ad copy and scamming millions out of hard earned money and calling that a success.  Some will still try and an very few will succeed at that for long.  But, that is burning bridges that you will need in the future.

You need to get real, help others, be nice, give first, and share to get ahead now.

I am not naive, and I know that bad people will continue to try spamming and scamming, but if you want to succeed you need to learn what it means to Give First, Pay-It-Forward, and Lead by Serving.  "SuperPerformers" like my friend Dave Guerra of http://corpusoptima.com calls them will come out of these values.

Listen, if you are desperate enough to try some flashy ad copy sales pitch to a squeeze page to sell worthless drivel, then I am sure I cannot stop you.  But, when you loose your CRED don't say I never told you.

Eric Standlee

Monday, October 05, 2009

Is Easy really Best?

In this day and age of push button everything, we have bought hook line and sinker the idea that everything is supposed to be easy.

Is easy really the best for us?

Without weight to push against, my muscles cannot grow stronger.

Without sadness, I cannot fully appreciate joy.

Without the trials of raising kids, I cannot fully understand patience.

Without study, I cannot fully grasp knowledge.

Without energy draining monotonous tasks, I cannot relish being fully rested.

If everything were really easy, then I would only expect everything to be given to me and never strive to accomplish anything.

There is a reason why the successful people we know have amazing stories of overcoming great obstacles.  Sure it is true that after attaining, many fall into self-indulgence and pride.  However, the real success was in the overcoming not in the getting.

We should embrace obstacles and shut doors.  These are opportunities in disguise.

This recession will bring the unimaginative down.  And, those who overcome will find opportunities to great success.

All industries are full of stories where the "winners" out lasted all of their competition.  I know many successful businessmen who point to perseverance as the #1 reason for their success after their strong faith in God.

To quit is to fail!  Period.

Many quit five yards or one step away from success.  Don't be that person.

Eric Standlee

PS.  Give yourself grace to make mistakes too.

Thursday, October 01, 2009

Banking System problems still growing

I keep my eye on banking because we work closely with bank to help them increase their non-interest fee income to counter these sorts of trouble on their balance sheets.

Google Blogs Alert for: fdic closes bank

The FDIC Is Safe
By Aryn
Don't panic. The FDIC is still secure. You don't need to close your accounts or rush to the bank to withdraw your money. The FDIC Has a Treasury Credit Line According to NPR, the FDIC has a $100 billion credit line from Treasury that it ...
Sound Money Matters - One Woman's... - http://www.soundmoneymatters.com/
Vox Popoli: The FDIC can't borrow solvency
By Vox
This statement from the FDIC yesterday should settle the matter: An alternative—borrowing from the Treasury or the Federal Financing Bank (FFB)— would also increase the liquid assets available to fund future resolutions but would not ... in federal deposit insurance or to a level which shall be close to or below zero, staff will estimate the reserve ratio for that quarter from available data on, or estimates of, insurance fund assessment income, investment income, ...
Vox Popoli - http://voxday.blogspot.com/
IMF: $1.5 TRILLION Coming In Further Bank Writedowns
By Joe Weisenthal
Not even close, "near 0% cure rate of all loans in foreclosure, 0.8% for 90 plus days delinquent, 4.4% for 60 days delinquent and 26.5% for 30-day delinquencies. All told, Amherst expects 12.42% of units (from the 13.54% of properties delinquent and in ... The entire banking system along with the FDIC is insolvent and we likely have at least $1 trillion in losses that have not been addressed. Boris said: Sep 30, 8:46 AM. Don't bother us with these trivialities. ...
The Business Insider - http://www.businessinsider.com/
Business Headlines For September 30, 2009 | Cronkite
By CRONKITE
The European Central Bank, which aims to keep inflation rates below, but close to 2% over the medium term, raised its inflation outlook in September. The central bank now expects consumer prices to rise 0.4% in 2009. ..... Thus, we wave a magic wand, and even though the FDIC is asking the banks for 3 years worth of money today, the banks will be able to recognize the cost over 3 years. Since when do we treat insurance as a depreciating asset? It's not like when you buy an ...
Cronkite - http://ibankcoin.com/cronkite/
Analyst Exposes Wells Fargo Balance Sheet Charade | Sense on Cents
By Larry Doyle
If Goldman is correct, or close, that is 25% of, well, what? They can write off a lot of this stuff via purchase accounting. But let's be kind to me and my hard work and say it will cost them $5 billion more than they are assuming. .... November and beyond may provide some market support for this skeptic's view of their balance sheet as FDIC guarantees of bank bonds goes away and Wells will eventually go to short term capital markets and raise money based on what people ...
Sense on Cents - http://www.senseoncents.com/
Avid Trader Official Blog: Evening Update
By noreply@blogger.com (Avid Trader)
Elsewhere, Starbucks entered the instant coffee market and the FDIC announced a proposal that would allow it to raise $45 billion from banks to help cover the rising costs of bank failures. The Dow Jones Industrial Average lost 47 points ( 0.5%) to close at 9742, the S&P 500 Index dropped 2 points (0.2%) to 1061, and the Nasdaq Composite fell 7 points (0.3%) to 2124. In light volume, 1.2 billion shares were traded on the NYSE and 2.1 billion shares were traded on the ...
Avid Trader Official Blog - http://avidtrader.blogspot.com/
The Economy & the Commercial Real Estate Bust - SZONE.US Forums
By Steve Boren
However, smaller banks - 92 of which have already folded this year as of mid-September, according to the FDIC, compared to 25 last year - are even more at risk because they will likely have a harder time accessing the crucial capital to offset rising defaults on commercial real estate ... By the end of 2012, some $153 billion in loans that make up CMBS are coming due, and close to $100 billion of that will face difficulty getting refinanced, according to Deutsche Bank. ...
SZONE.US Forums - http://www.szone.us/
As with any business, increasing revenue is a great way for banks to get around their loan problems.  We have a track record of helping small, independent, and event billion dollar regional banks increase their non-interest fee income with returns on cash deployed of 27-37% as reported by the banks themselves.  Compared to 1% returns on cash deployed in commercial loans 27% is a much better result.  That has represented almost 50% of net income for some banks which realize the value of non-interest fee income.

Eric Standlee