Fred Rewey’s Blog

Extraordinary Marketing

Over time I have seen a multitude of marketing methods in our industry. I have seen the basic (direct mail, newspaper advertising) to the bizarre (sandwich boards, pony rentals) to the unique (well, it wouldn’t be fair to those involved to list those here). I have also seen some people spend more time setting up their computers, Web-sites, and letterhead than they do going out and getting business.

Awhile back, as part of a “state of the industry” address, I discussed marketing and my belief that you had two choices — to be either exclusive or unique. If you were “exclusive,” your potential clients would not necessarily be aware that someone else (other than you) could help them. If you were “unique,” you would manifest some quality that made you stand out from everyone else.

At this point I want to simplify my thoughts into one single message. Regardless of what cash flow you are going after — matter of fact, regardless of what business you are in, I am reminded of a basic thought that my mentor taught me 20 years ago.

Everything you do should be centered on this thought. If it is not — such as worrying about your logo or business card — understand that those types of behaviors or actions don’t get us any closer to doing deals (just doing them in a different way). I can hear you now, “Ok, Fred, what is the message?” It is only five words…

Get Your Phone to Ring

That is it. Everything you do, and I do mean everything, should be concentrated on getting your phone to ring. Whether you are focused on advertisements in the local free paper, a direct mail campaign, flyers, etc., etc. — everything should be about getting a person to call you. That is especially true if you have a Web site. A Web site is nothing more than a 24 hour a day presence for you and your business. Don’t get me wrong, I think a Web site is essential in today’s market — but it also has the goal of getting someone to call you.

In today’s market, “contact” is important. At least 80 percent of your time should be spent searching for business. That’s right, 80 percent of your time should be spent trying to get your phone to ring. Everything else can be done by others. If you find too many deals, someone else can fill out worksheets, someone else can type offer letters, and someone else can go to the bank and deposit money (although you may want to reserve that one for yourself). My point is, no one else can do your marketing — that is your job.

Well it appears that all eyes are on the Nation’s Real Estate Pricing and Interest Rate’s seemingly continued increases (see the March 22, 2005 post!). What does this mean to you?

For starters, if you are a homeowner that is already enjoying fixed rate financing you will begin to see the benefits of locking in those lower interest rates. This will be particularly true for those that own property to use as rentals. If you have been tied to variable rate financing you are going to start to see the downside. Certainly you have been enjoying lower payments but, like most things, now it is time to pay – literally.

Over the last several months we have mentioned numerous times about the need to “shift” over to fixed rate. Although that ship is pulling out, it is not too late. Real Estate prices, although still booming in a lot of areas, is largely tapering off and beginning the shift to a “buyers market.”

Which brings us to our next question, “Will Real Estate prices crash?” Well, it may be premature to answer that question in any definitive manner, all indications point to a decrease. While I think “Crash” is too firm a word, given the fact we have enjoyed so much growth over the last several years, I think a “correction” is more in order. The greatest concern will be for those that bought on speculative analysis and for those that purchased property (rental) that does not cash flow.

Now would be a good time to address the two issues above – before it impacts any short or long term objectives you may have.

Editorial Review - Wiley

Every day, millions of Americans struggle to gain control of their finances and realize true financial freedom. Faced with everything from mounting credit card bills to mortgages and college tuitions, some have given up and filed for bankruptcy, while others have tried to stay afloat by meeting minimum payments. Fighting this type of battle can be daunting, but if you know the rules of the game, you can change your financial life forever.

In Winning the Cash Flow War, nationally renowned cash flow expert Fred Rewey addresses the financial problems that many of us face and offers practical guidance to finding financial freedom in today’s challenging world.

This book is divided into four easy-to-follow parts:

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Part Two-Understanding the Battlefield: Reveals the rules, tricks, and traps that we should all know about, but certainly have not been taught by the people making money off of us. This section will get you up to speed on the enemy.

Part Three-Mastering the Rules of War: Details the most powerful and important tools in the game, such as the Time Value of Money. This section will help you determine who your allies are, what tools to use, and how to really win the war on cash flow.

Part Four-Building on Your Victory: Explores the numerous ways to self-employment by creating a second source of income, or for some, a whole new way to bring home primary income.

Winning the Cash Flow War provides you with the tools and knowledge needed to take back your financial life. The unique step-by-step strategies outlined within these pages will transform your attitude about finances and help you to shore up your financial position. Discussing everything from effective budgeting to breaking into the lucrative and fulfilling world of self-employment, Winning the Cash Flow War will help you-once and for all-take control of your financial future.

To order, use the link to the right, check out your local bookstore, or visit www.winningthecashflowwar.com