I was able to get my laptop back after some time (2 years) of it being unable to charge. It wasn’t in the shop for 2 years, it was collecting dust. I was running business from the house computer, and while a computer is a computer, the shared time distracted me from full expression- not to mention disk space issues (something you could imagine on a 3 person, 6 year old computer). So now I’m a mad woman browsing everything I can in the comfort of my room (wi-fi rocks!). I can’t begin to compile the list of websites and resources I have gathered in this time, but I will tell you an idea currently shaping the expansion of my campaign.

A blog post: I googled info on postcards, looking for the cheapest deal. I have been using Overnight Prints for the longest, but at my core I’m more frugal than loyal. This search resulted in a bust, but amongst the hodgepodge of links I ran across a blog post titled,  ”6 Things I know about postcards that You don’t“. Take the time out and read it, after you’re done here of course. I clicked it fully expecting it to say things I already know of postcards, even elementary stuff.

I was incorrect in my assumption, but only partially, because of these 2 points:

#1- Although most people, if surveyed, say they like full color on both sides, the truth is black on white on the back of the postcard gets a better response.

#2- You should promote only one thing at a time on your postcard.

Come again? You mean to tell me I’ve been doing it wrong the whole time? Yes and no. Let me explain.

#1 brings the importance of “less is more”. With too many colors on the palette the eye is distracted and doesn’t grab the main focus as easily. Its confusing. The remedy for this isn’t no color at all. On the contrary, boring won’t interest a potential customer either. The idea is to use color in such a way that it enhances the piece.

#2 really should cut a little deep to all note brokers. How many times are we informed to make a postcard that sounds like this?

I buy mortgages, deeds, land contracts, notes, settlements, trusts, lottery winnings and annuities. Call me.

If you think about it, its illogical. You bought a list of note holders, not lottery winners, so why promote it? I’ll reiterate the point: Promote one thing at a time. Period.

This is a list of 17 things that note holders have to think about or deal with while maintaining ownership of their note.

I got the list from Kent Anderson’s new home study course which I am currently reviewing.

1. Compliance with Fair Credit Reporting Act
2. Compliance with Truth in Lending Law
3. Collecting payments
4. Principal and Interest breakdowns
5. Default
6. Divorce or Death of Payor
7. Federal Income Tax Reporting
8. Destruction of Property
9. Fire Insurance
10. Bankruptcy of Payor
11. Foreclosure
12. Abandonment of property
13. Payment history
14. Keeping Original Documents Safe
15. Deficiency Judgements
16. IRS Tax liens
17. Payor with Bad Credit

Direct mail is the most annoying thing about marketing to me. Everything about it screams “chance”. And if you’ve been reading long enough (all 75 posts) you know I like measurable results, quick results.

So what about it Czarina don’t you like?

Well, for starters, you have to buy a list. How many? What state? How much? Date range? Why don’t they ask you the most important question of all? First position?! I’m sure I would save plenty of stamps if they could somehow sort this out.

Next in my disdain for direct mail, ordering postcards. Now you may know I was a graphic designer once upon a time, so I don’t mind actually designing the cards. Its the ordering, the reviews for my many typos, the shipping, the waiting, then calling the people back because they somehow screwed up my order. All for what? To be tossed into someone’s trash can now sooner I add the stamp.

Speaking of throwing out, how do we measure the response properly? Mail-outs to phone calls is a big leap, but thats usually what we as note pros use. The problem is, how do we know it wasn’t that the person wasn’t interested, but our card looked bad and they perceived our company that way? Or they kept the postcard, but were not ready at the time to react? Maybe we only mailed them once, and they thought we dropped off the side of the planet (which is usually the case with new brokers)? So the lack of measure within direct mail is another pet peeve of mine.

The final straw which breaks my back with direct mail is… time. Time. Time! You would think with modern technology one could get mail in a day-not three. Oops, I forget. We can get mail in a day, but of course you have to pay. This makes no sense. Why should I pay you more to perform your best? Shouldn’t you do this out of pride? Knowing you’re doing a good job? I guess pride costs extra.

As much as I would love to write all day about how much I can’t stand direct mail, we are her slaves. If you want to make it in this business, you need her, in all her flaws.

Not I, said Czarina.

I’m trying something new. I am launching a new campaign this year that should increase response rate, give me more measurable reports, and packages everything in a nice red ribbon. This new campaign is the bomb! I can:

• See who read the postcard
• Check if their information is correct
• Get their email addresses
• Have them listen to a sales pitch
• Design my own campaign look
• Get them to my website and track their every move

The best part is it only costs me a few more dollars than I would originally have spent on a plain direct mail campaign. Cool, huh?

I’m testing it out early Feb. and I will let you all know how it goes. Needless to say, I’m super excited! Til then, be well in your business.

I am seeing a lot more people with the desire to be in the note industry. Just went to the Paper Source Forum and there were at least 4 different entries for a mentor. The problem is they are going about it in the wrong way.

First of all, there isn’t a website where random people decide to mentor newbies in the industry. These are real people and more often than not, still very involved with their own note businesses. So for them to take time to mentor someone, is taking money out of their pocket (so to speak).

Next, none of the mentees have offered any information specific to what they want out of their mentor. Most say something along the lines, “I’m new to the business. Need a mentor to ’show me the ropes’.” This may not seem incorrect, but to a possible mentor it screams “Help! I want you to hold my hand and do all the work.” At least it does to me. You’ve not given any particular goals you’ve set for your business and, aside from knowing to ask for help, show little to no knowledge of the industry.

Lastly, (buckle your seat belts folks) the mentees are doomed to fail.  By posting an ad on a forum or the like, you are waiting for someone to come and rescue you. Not going to happen. Why? Go with me on a journey.

If I’m a note professional who is doing well in business, it might be harder to imagine I would go lurking the internet to find people who need my help. This is not to say its not done. Two men off the top of my head shifted part of their business for this specific need. However, I don’t know if either have one-on-one sessions with every client- not to mention neither lurk around forums looking for people.

Bottom line, if you want a mentor, you have to go grab one. Have your business goals in mind and what you owuld like from a mentor. Find someone in your local area. Check out their website or email them. Study them. Do they conduct business efficiently or what only works for them?

Above all, be mindful that they are real people. They are not going to be able to answer  every question exactly when you want them to. Be patient- even a mentor will not eliminate the lessons of trial, error, and experience.

In any business, uniqueness is what sells- so why are so many new brokers copying the Jones’s? It seems every new trick played by infamous seminar gurus is the newest “innovative” method used by those trying to be true brokers. Info-pupils don’t know better; you do.

The more you look like the competition, especially the ones who get their “note license” from a box, the less you will make an impression. The less you make an impression the smaller your market share. I made a chart to illustrate the point I’m attempting to make.

[Click to see larger]

Notice the true broker [You] started their business ahead of the game. This might have been their extra knowledge about the industry not found in infomercial pamphlets, better-looking postcards, etc. Whatever the case, they clearly had a unique difference from the info-pupil. However, as time went on, the infomercial people got smarter, tried new things, and succeeded (albeit their “ideas” may have come from the extra $10k they spent to get it!). Nonetheless, that ‘thing’ you did, they do too. Eventually, they grew and grew and a point came where the only difference between You, the true broker, and Them, the info-pupil, was your company names.

But take a look at the other chart:

[Click to see larger]

This person continued to use innovative marketing methods to stay ahead of the game. They have a professional site, not an overpriced cookie-cutter webpage. They might have used different direct mail lists, or different methods in which to reach potential clients. They may have strong professional references.

Do you see how much more gray area there is? Thats where the money is made. The more unique your company is from the competition, the larger your potential market share. People come to you because you’re different, and therefore must know what you’re doing, right?

Differentiation = Success

A very popular show on television features dancers of all kinds, learning new dance forms [and struggling] where they eventually receive a vote whether they will continue to the final show. [I think they win money, but I'm unsure because I've only seen 2 episodes. Ever. Years ago].

Its interesting however. Some guy who has been ballroom dancing his whole career has now been thrown a curve and now has to learn hip hop. He not only struggles with the movements, but the ones he eventually gets down end up looking ballroom anyhow. He can’t adjust.

Meanwhile, here comes the self-taught underdog who most think should not have made the show. His dancing is nice, yet lacks a definitive technique. With the lessons from the professional dancers, he goes on stage and sweeps the crowd off their feet. He possibly would have fared well with even average teachers.

Notice both guys are dancers and aside from different techniques, both are equal. One is able to adapt quicker to new ideas, new options, new challenges. The other surely tries, but ends up at the disadvantage. He knows ballroom and that’s all. Why should he learn anything else? Ballroom isn’t broken.

So what does all this mean to the note industry? The note industry is a niche market. Those involved must cater specifically to what works in the note industry, and not doing so could literally cost you. This fear leads many to stick to ballroom. They know the industry, they’ve succeeded thus far, but thrown any curve in the mix and things get ugly.

Many note businesses are falling on their face in the curve. They have been doing the same things for so long they are afraid and even against anything that doesn’t fit their idea of what their company should do. Stuck in their ways. They’re too used to ballroom [old marketing]. I heard an old vet in the business advise against getting a website for your company. [Yes, I'm serious] And don’t suspect that some who have hopped on board the internet train are very far from ballroom themselves. Allowing ‘others’ [whoever those others are] to supply you with new ideas and techniques, websites, etc. is not only sloppy, you’re barely dancing. You’re a wallflower.

Solution: Learn how to breakdance.

Two meanings: (1) learn how to be quick on your feet [like the second dancer] and you will adapt better to change; (2) if something isn’t broke, break it. Imagine an important element you need to run your business being gone forever. What could replace it? How would you overcome the obstacle?

Ways to break ballroom:

1. Make sure at least one element of your business is exclusively you. This means its not something you bought from a program that someone else made up. This is probably a little difficult at first because more than likely you’re not geared toward creating and trying new things [especially if they've never been done before]. Don’t get worried when months have gone by and nothing has come to mind yet. Part of the process is setting your mind to think this way. If it came easy everyone would do it.
2. Think for the long haul. Who will be your customers 10 years from now? How will they expect your company to work? Will you still have that cookie-cutter website? Will you have any new, better-suited services?
3. Be like a tree and branch out. No one marketing medium will be the best forever. They are always changing because the people you are marketing to are always changing. They don’t want to be sold, they want to be educated and they will go wherever they feel they are making the best decision.

 Remember to never get too comfortable and always strive for something better. Don’t allow others to provide new materials to you and your company. Be proactive. Eventually it won’t be adaptation, but progressive movement that competition can’t keep up with.

How do you make a marketing campaign work? Well, first of all, it has to be good. No point in making and marketing something that is only going to hurt your company. Second, it has to reflect what your company really stands for. Generic anythings never work. Specialists on either side of the spectrum is where the profits are.

So assuming that you have those to main aspects down, the next thing is to make sure that you are maintaining your status and being consistent. You’ve heard this before, time and time again. But if you are being consisitent and are still getting the same results, there is probably something wrong with your two main components. Could be that they are outdated.

What to do?

• Do a search on marketing. Sign up with a free newsletter and have it sent to your business email, not personal. You will get consistent (if they are worth their salt) messages on the new marketing trends. Not all of them will be applicable to exactly what we do in the note industry, however, getting fresh ideas makes it easier to transition to better campaigns without feeling as if you are throwing money away.
• Track your campaigns more closely. I know someone who times the exact DAY their mail arrives in the recipients mailbox. Why? Mail is always busy on Mondays, however, it is slow on Tuesdays and Wednesdays. So potential clients are more likely to open your mail on a slower day because there is less junk cluttering the box.
• Trek to the library. I have checked out books that I thought were a waste of time. And some of them were. But a lot of the time I have been surprised by the knowledge shared (for free no less) and gained that I have applied to my own marketing campaigns.

The bottom line is your marketing is the lifeline of your business. If you are not getting the right results you expected to get, revamp and make it work.

I’m just finishing a brand new marketing campaign I designed myself this week. I’m about a week overdue with sending out the last phase, and I’m afraid I’ve lost a lot of momentum. The campaign consists of different kinds of mailings, one in particular with had to be personally delivered.

Some of the fault is mine, as I should have thought ahead a little about the supplies I would need and prepared for the next phase. But, there’s wisdom in mistakes, and I’m learning a lot for the next go-round.

I tried outsourcing a bit, but I’m too much of a micro-manager and spend thrift to rely on someone else to ruin my project (who told the world that delivery had to be so expensive?!) I’m really focused on getting things right the first time, so much so that I will push past my own personal deadlines if I think it would serve a better purpose.

I hear thats a problem with most entreprenuers; they like to do everything themselves. But believe me, I tried really, really hard to get some help. However, now that the last phase of the campaign goes out tomorrow, I’m sure the next time around it will be easier. I might even be able to save some money and be more satisfied with the results.

My advice: Forget outsourcing if things won’t be done to your liking. Its better to do a little more labor and look a little like a control freak than to put out a cheesy product.

Remember your marketing placebo.

One of the best things I love about being in the note industry and, more specifically, owning and operating my own note company is the amount of room we have for creativity. So many things can be done in an instant in your business and whether the results are positive or negative, the fun of it is in the adventure; taking full advantage of being your own boss.

As ecstatic as I am about new ideas, creativity didn’t come easily for me in regards to a note company. I was so green (and in a lot of ways still am) I thought if I changed anything I was taught about the industry that I would totally flop and become and instant failure. Not to mention some of the ideas proposed to me initially were things I had never thought about in the first place. Ever. So I naturally followed them as passionately as possible.

As time grew, however, I started noticing that the special niche my business was carving out wasn’t so rare. In fact, almost every other broker was either doing it (successfully or unsuccessfully) or had access to do it. Everyone can give free quotes. Everyone can give a full or partial sale. Direct mail was the main way to go. Professional referrals are most valuable, although few have a client list over 30.

That’s a mold.

By experience there is only 1 way to break a mold and that’s to deem it inadequate. When you find something that’s different or new that can no longer fit into the status quo, you are essentially breaking a mold.

So the challenge of the month is to look at your company objectively and ask “If I were a competitor, how would I beat me?” or “If everyone else is doing this, why am I?”. This can expose a smorgasbord of weaknesses ready to be worked on and reshaped.

After a while it becomes second nature. Sooner or later you’re better as a company from the previous month because of what you do not how much you made (although profit margins should rise as a result). Then, somewhere down the road a new broker is coming to you for advice. You think, “what in the world do they see that makes them think I know what I’m doing?” So you take a step back and look.

Reflecting back is a company who has broken a mold, lived to tell about it, and now is an inspiration to others. Something that has grown. And the best part about it is- its yours!

What if the “Don” decided to get into the note industry? What would that mean for business? How would it hurt? How would it help? What are some of the things you think he would do? How would he market? Would lawyers run to him to refer clients to him?

To be quite honest I don’t know much of his history, but I’m sure he would do things in a very unorthodox way. Of course there is the chance he would miss the mark completely and market with some extravagant Time Square billboard or promotion, only to find no one knows exactly what it is that he does. But since he’s not in the business anyway, I guess we’ll never find out.

The perception is wild. I doubt he would know the first thing about notes (first starting out), yet people would flock to him in droves. They expect a big-timer like him to know what he’s doing.

Why not be the local Trump? King of your own anthill. Make every referral or transaction an experience worth noting. Then it wouldn’t really matter if a bigger guy came along, you’d already have your slice of the pie.