Archive for February, 2012

Are You A Good Manager?

Posted by Joel pate in Business. Tagged: , , , , , , , , ,

Whether you like it are not, you are a manager. The only question: Are you a good manager?

As adults we manage many facets of our work as well as personal life. And we are responsible to ourselves to make the best of every minute of every day-if only to make it more enjoyable. These principles apply to work, home, charity-to every activity in which you spend time and energy.

There are five basic operations in the work of a manager. Managers can improve their performance by improving the results they achieve on the following activities:

Establish Objectives. The first job of a manager is to establish the correct objectives for your organization/life. Only by limiting your concentration to a clearly defined set of objectives will you be able to gain the focus you need for success.

Too much energy is wasted on events that are aligned with unclear objectives. Stop and ask yourself often, why am I working on this project? Does it meet my clearly defined objective(s)? If it doesn’t, consider eliminating it from your day as soon as possible.

With a clearly defined set of objectives, it is time to consider what needs to be done in order to reach your objective. The first question to ask: Do I have the resources needed to accomplish this objective? If you do not, determine what you need and do your best to obtain it before you commence. There is nothing worse than beginning a project and then abandoning it without meeting the objective. Too many times we waste such valuable time and resources because we did not critically examine our ability to complete a project before we started. You would be better off spending the day at the beach!!!

Managers manage people as well as the objectives. Most projects require the development and the management of resources. Do not limit yourself by limiting the resources that you have in your sphere of influence. Many times it is better to engage an outside resource than to develop your own.

For example, I recently hired an Infusionsoft Expert for $100 per hour to complete a project. What is the project? Develop Infusionsoft using a clearly defined sales process flow chart into a complete system and then train my team on how to use it.

For less than $1000, we will not only have the system developed but will be trained on its use.

Regardless of the type of resource, they all require that you communicate clearly to them the objective and the goals to be of value. Be careful that you do not engage resources or employees without a clearly defined objective for in all cases they will help you define the objective with their own benefit in mind. It will be a waste of money or become very expensive.

Of course commonly opportunities arise as you go through your day focused on your objectives. While you need to have an open mind, BE CAREFUL, because most of just distractions.

Key: Be clear about your objectives prior to committing resources.

Managers must organize. Organization is a primary duty of the manager. With a clearly defined objective you can now begin the job of organizing the work that needs to be performed as well as development of the non-negotiable that you will deliver. I find that companies that do not have non-negotiable waive key elements of the protocol necessary to maximize results.

For example, if your business has a complicated sales process that requires training, require the participants to submit to training. No ifs ands or buts. Maintaining this important decision will help you grow your business in a focused manner. Elimination of problems is best when done from the beginning.

In addition, you must analyze your activities and decisions. What are the key components of your enterprise? What are the variables of your forecast? Managers must manage to those variables on a regular, even daily basis, if they hope to accomplish the goals established.

How many customers must come through your door on a daily basis to be successful? How much must they spend? Duration of the revenue activity? Productivity per hour for your staff? Percentage of re-occurring revenue units? These are just a few of the measurements for your business. The key is to measure and then soberly understand if you are meeting your targets.

Only the accomplishment of specific measurable events will culminate in the end result of your objective. Don’t get to the end of the month to determine that it was not a good month. You can determine it on a daily basis if you have the proper analysis of data.

To be continued……..

To your Success

Joel S. Pate

Joel Pate is an entrepreneur and founder of multiple successful companies in the mortgage, real estate, and marketing space. For more information on Joel, contact him at joel.pate@scoreinc.com

PS: Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link: https://www3.gotomeeting.com/register/393936198

 

 

 

 

Credit Report Accuracy Holds Back Housing Recovery

Posted by Joel pate in Uncategorized. Tagged: , , , , , , , , ,

According to Federal Reserve chairman Ben Bernanke in a speech at the National Association of Home Builders International Builders Show in Orlando, “The state of the housing sector has been a key impediment to a faster recovery.”

If the state of the housing market is the problem, what are some of the solutions?

Take into account a few facts:

“Millions of consumers are at risk of being penalized by inaccurate credit report information and inaccurate credit scores,” according to study cited by the U.S. General Accounting Office.

A National Association of State Public Interest Research Groups report concludes “79% of credit reports contain some type of error and that about 25% of all consumer credit reports may contain errors that can result in the denial of access to credit.”

The Federal Reserve Board Bulletin reports, “Key aspects of the (credit report) data were ambiguous, duplicative, or incomplete.” The details of this report outline the following systemic issues:

• Ambiguous status of state of accounts

• Failure to report credit account information

• Unreported credit limits

• Problems with collection agency accounts, public records and credit inquiries-duplications of accounts

• And more.

Bernanke went on to say, “The Federal Reserve, in its supervisory capacity, continues to encourage lenders to find ways to maintain prudent lending standards while serving creditworthy borrowers, but the slow recovery of the housing market and the economy and other factors are keeping lenders cautious.”

So what can or should we do about this problem?

Encourage your customers that have problems on their credit report to contact the credit bureaus directly and if they cannot resolve the problems themselves to immediately seek the assistance of a credit repair professional. While credit problems are not the only problem with the housing recovery it is a substantial impediment to the recovery of our economy.

If you are not familiar with a credit repair professional in your local area, contact me for a referral.

To your Success

Joel S. Pate

PS:    Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link:https://www3.gotomeeting.com/register/393936198

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

Credit Report Accuracy Holds Back Housing Recovery

Posted by Joel pate in Credit Repair. Tagged: , , , , , , , , ,

According to Ben Bernanke, Federal Reserve Chairman, in a speech at the National Association of Homebuilders International Builders Show in Orlando, Florida “The state of the housing sector has been a key impediment to a faster recovery.”

If the state of the housing market is the problem, what are some of the solutions?

Take into account a few facts:

“Millions of consumers are at risk of being penalized by inaccurate credit report information and inaccurate credit scores,” according to study cited by the General Accounting Office of the United States.

National Association of State Public Research Group report concludes “…79% of credit reports contain some type of error and that about 25 % of all consumer credit reports may contain errors that can result in the denial of access to credit.”

The Federal Reserve Board Bulletin reports that “KEY aspects of the (credit report) data were ambiguous, duplicative, or incomplete.” The details of this report outline the following systemic issues:

  • Ambiguous Status of State of Accounts
  • Failure to report Credit Account Information
  • Unreported Credit Limits
  • Problems with Collection Agency Accounts, Public Records and Credit Inquiries-Duplications of accounts
  • ETC

Bernanke went on to say. “The Federal Reserve, in its supervisory capacity, continues to encourage lenders to find ways to maintain prudent lending standards while serving creditworthy borrowers, but the slow recovery of the housing market and the economy and other factors are keeping lenders cautious.”

So what can or should we do about this problem?

Encourage your customers that have problems on their credit report to contact the credit bureaus directly and if they cannot resolve the problems themselves to immediately seek the assistance of a credit repair professional. While credit problems are not the only problem with the housing recovery it is a substantial impediment to the recovery of our economy.

If you are not familiar with a credit repair professional in your local area, contact me for a referral.

REPRINT FROM ORIGNATION NEWS

To your Success

Joel S. Pate

Joel Pate is an entrepreneur and founder of multiple successful companies in the mortgage, real estate, and marketing space. For more information on Joel, contact him at joel.pate@scoreinc.com

 

PS: Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link: https://www3.gotomeeting.com/register/393936198

 

 

Pro-Active Versus Re-Active Credit Repair

Posted by Joel pate in Uncategorized. Tagged: , , , , , , , , ,

What is pro-active credit repair? Before I answer that, let’s define re-active credit repair. As the president of a credit repair backend processing company, I have the good fortune to counsel with mortgage and real estate professionals as well as credit service organization company owners from all across the county on a daily basis.

Typically in consultive roles you are looking at the problems in a business. In nearly every conversation with both large and small operators they state that their greatest problem is cash flow instability. But is this the problem or a symptom of the real problem?

When digging deeper into these conversations, the real problem begins to surface. It is really a lack of ability to view the results being obtained by the industry professional on their customer’s files in a timely fashion. Why? The customers do not send in their results on a consistent basis, if at all. And, if you pull credit for credit repair from a mortgage company or other source you are violating their terms of service and they are subject to losing the valuable privilege with the bureaus.

But how does this affect so many other areas of the business? Since results are the primary driver of the business, the reason that consumers signed up with you and thus your deliverable, just in time delivery of this natural resource or inventory item is crucial to your business model.

Your sales are affected due to the fact that you spend unproductive time chasing down bureau results instead of focusing on acquiring new sales and servicing the accounts you’ve already sold. Remember referrals are king.

Every un-planned contact from your customer is very time consuming. To increase profits you must develop a system that reduces customer communication interaction.

Lack of control of the timely delivery of your demonstrable results impacts your ability to schedule your work and that of your production staff. Result: You have cash flow instability.

Just imagine for a moment an auto assembly plant not knowing if they have enough steering wheels, bumpers or transmissions for today’s production. Can you imagine in today’s competitive landscape how that would affect their business? It’s the same for you.

So what is the solution? Credit monitoring. It sounds ridiculous but it is true.

The timely access to credit monitoring allows you to systemize your workflow and thus drive your process without unproductive and needless contacts with you customers to chase down results.

Additionally, as you have experienced, the results arrive over a period of days if not weeks. As a result, the consumer is touching you up to three times and then you are required to examine three different reports at potentially three unique times.

Each of these extra steps takes time away from sales, meaningful customer touches and ultimately profits.

Only with a durable credit monitoring account can you plan your work and work your plan. How does it work?

Schedule the new credit monitoring pull in your calendar for each customer for a particular date. Or better yet push that down to a lower paid employee. By using your CRM platform to schedule your time to review the “results” allows you to become more productive-like a normal business.

This easy to implement process gives you “inventory” control over your work flow scheduling and thus the ability to manage your cash flow in a more businesslike fashion.

As always, many company owners were initially skeptical of this enhancement to their business and have had these objections: “That won’t work in my market….But then I’ve got to stop what I’m doing to log into the account….What if their credit card fails and I can’t access the report?… It’s too expensive… the customer cannot pay any more…”

These are all valid objections but ones that have been overcome by numerous successful operations:

• In every market we have found that if you train your sales staff effectively you can overcome the objections from the customer of the added expense.

• The time it takes for one of your staff to log into a credit monitoring account is less than two to three minutes.

• Credit cards fail on approximately 20% of the accounts—but that is better than chasing down 100% of the consumers for results.

• The customer doesn’t want to help you do your job, the consumer wants results.

Running a successful business requires that you become pro-active instead of re-active in your approach. You do this by systemizing every possible event and by wringing out of the organization unproductive time wasters.

Ultimately you will find more time and energy for the growth drivers in your business: marketing; lead management; affiliate development; sales; and productive customer interaction—all of which leads to referrals.

If you are ready to improve the results you achieve in your business, begin to implement this plan today on your next sales call.

To your Success

Joel S. Pate

PS:    Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link:https://www3.gotomeeting.com/register/393936198

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

Compucredit

Posted by Joel pate in Auto Loans, Banks, Business, Credit Cards, Credit Repair, Leads, Management, Mortgage Loans, Sales. Tagged: , , , , , , , , ,


Dear Friends,

In life we are fortunate when we can say that any court ruled in our favor but when it is the Supreme Court of the United States, it is definitely a great day.

As you may know, Compucredit was sued a few years ago under the Credit Repair Organizations Act.
The details of the case are important but the really important facts are that the Supreme Court ruled that Consumers can be required to be compelled to arbitrate a case, if the company has the proper provisions in their Contract.
So act quickly to make sure that your contract has the appropriate and legally binding clause to protect yourself against consumer lawsuit.

For more information follow this link.

Joel

Joel S. Pate, President

joel@joelsjolt.com

Ox Publishing

Execution-The Key to Un-Lock your Success

Posted by Joel pate in Auto Loans, Banks, Business, Credit Cards, Credit Repair, Leads, Management, Mortgage Loans, Sales. Tagged: , , , , , , , , ,

Execution-The Key to Un-Lock your Success

 

Execution is the key to your success. Without the systematic rigorous process of tenaciously following through, while ensuring accountability, your business and personal life will be less rewarding than it could be.

Of course you need to plan, and you need to prepare. Many articles on that subject. But without execution nothing happens. Without continuous execution, not enough continues to happen.

On a daily basis, I speak with mortgage companies and credit repair companies from all over the country. If I had a nickel for every time that I have heard “I’m about to do…..you name it” I would have a lot of nickels.

Every day I see business owners stuck in what I have deemed to be Work Avoidance Behavior.

Now these are good folks. Smart, well-educated but none the less stuck in some type of rut.

So if you are stuck in this type of rut, how to you break free?

Determine just like Microsoft has:

  • Good is good enough-there is always a 2.0 that you can roll out
  • Make your list today but tackle first the one thing that you are avoiding
  • Yes that’s right-don’t do everything else to “get it out of the way”
  • Execute on the one thing that you know you need to do-do it now
  • You will only change your behavior when you change it

Getting ready to get ready is another way of saying work avoidance behavior. It’s time to execute your plan, roll out your website, purchase those online key words, schedule presentation meetings, etc. Do it today, you will be glad you did.

To your Success

 

Joel

Join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link: https://www3.gotomeeting.com/register/393936198

Pro-Active vs. Re-Active Credit Repair

Posted by Joel pate in Auto Loans, Banks, Business, Credit Cards, Credit Repair, Leads, Management, Mortgage Loans, Sales. Tagged: , , , , , , , , ,

Pro-Active vs. Re-Active Credit Repair

 

What is Pro-Active Credit Repair?

Before I answer that, let’s define Re-Active Credit Repair. As the President of a credit repair backend processing company, I have the good fortune to counsel with mortgage and real estate professionals as well as Credit Service Organization company owners from all across the county on a daily basis.

Typically in consultive roles you are looking at the problems in a business. In nearly every conversation with both large and small operators they state that their greatest problem is:

CASH FLOW INSTABLITY

But is this the problem or a symptom of the real problem?

When digging deeper into these conversations, the real problem begins to surface. It is really a lack of ability to view the results being obtained by the industry professional on their customer’s files in a timely fashion. Why? The customers do not send in their results on a consistent basis, if at all. And, if you pull credit for credit repair from a mortgage company or other source you are violating their Terms of Service and they are subject to losing the valuable privilege with the Bureaus.

But how does this affect so many other areas of the business?

  • Since results are the primary driver of the business, the reason that consumers signed up with you and thus your deliverable, just in time delivery of this natural resource or inventory item is crucial to your business model
  • Your sales are affected due to the fact that you spend unproductive time chasing down bureau results instead of focusing on acquiring new sales and servicing the accounts you’ve already sold. Remember referrals are king.
  • Every un-planned contact from your customer is very time consuming. To increase profits you must develop a system that reduces customer communication interaction.

Whether your business is based on the Monthly Fee model or the new Pay For Delete model that is sweeping the industry, lack of control of the timely delivery of your demonstrable results impacts your ability to schedule your work and that of your production staff. Result: You have Cash Flow Instability.

Just imagine for a moment an auto assembly plant not knowing if they have enough steering wheels, bumpers or transmissions for today’s production. Can you imagine in today’s competitive landscape how that would affect their business? It’s the same for you.

So what is the solution? Credit Monitoring

It sounds ridiculous but it is true.

The timely access to credit monitoring allows you to systemize your work flow and thus drive your process without unproductive and needless contacts with you customers to chase down results.

Additionally, as you have experienced, the results arrive over a period of days if not weeks. As a result, the consumer is touching you up to three times and then you are required to examine three different reports at potentially three unique times.

Each of these extra steps takes time away from sales, meaningful customer touches and ultimately profits.

Only with a durable credit monitoring account can you plan your work and work your plan. How does it work?

Schedule the new credit monitoring pull in your calendar for each customer for a particular date. Or better yet push that down to a lower paid employee. By using your CRM platform to schedule your time to review the “results” allows you to become more productive-like a normal business.

This easy to implement process gives you “inventory” control over your work flow scheduling and thus the ability to manage your cash flow in a more businesslike fashion.

As always, many company owners were initially skeptical of this enhancement to their business and have had these objections: “That won’t work in my market….But then I’ve got to stop what I’m doing to log into the account….What if their credit card fails and I can’t access the report?… It’s too expensive… the customer cannot pay any more…”

These are all valid objections but ones that have been overcome by numerous successful operations:

  • In every market we have found that if you train your sales staff effectively you can overcome the objections from the customer of the added expense
  • The time it takes for one of your staff to log into a credit monitoring account is less than two to three minutes
  • Credit cards fail on approximately 20% of the accounts-but that is better than chasing down 100% of the consumers for results
  • The customer doesn’t want to help you do your job, the consumer wants results

Running a successful business requires that you become Pro-Active instead of Re-Active in your approach.

You do this by systemizing every possible event and by wringing out of the organization unproductive time wasters.

Ultimately you will find more time and energy for the growth drivers in your business:

  • Marketing
  • Lead Management
  • Affiliate Development
  • Sales
  • Productive Customer Interaction
  • Which leads to referrals

If you are ready to improve the results you achieve in your business, begin to implement this plan today on your next sales call.

To your Success

Joel S. Pate

Joel Pate is an entrepreneur and founder of multiple successful companies in the mortgage, real estate, and marketing space. For more information on Joel, contact him at joel.pate@scoreinc.com

 

PS: Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link: https://www3.gotomeeting.com/register/393936198

Execution, The Key to Un-Lock your Success

Posted by Joel pate in Uncategorized. Tagged: , , , , , , , , , ,

Execution is the key to your success. Without the systematic rigorous process of tenaciously following through, while ensuring accountability, your business and personal life will be less rewarding than it could be.

Of course you need to plan, and you need to prepare. There are many articles on that subject. But without execution nothing happens. Without continuous execution, not enough continues to happen.

On a daily basis, I speak with mortgage companies and credit repair companies from all over the country. If I had a nickel for every time that I have heard “I’m about to do…you name it” I would have a lot of nickels.

Every day I see business owners stuck in what I have deemed to be work avoidance behavior. Now these are good folks. Smart, well educated but nonetheless stuck in some type of rut. So if you are stuck in this type of rut, how to you break free?

Determine just like Microsoft has:

• Good isn’t good enough; there is always a 2.0 that you can roll out.

• Make your list today but tackle first the one thing that you are avoiding.

• Yes, that’s right-—don’t do everything else to “get it out of the way.”

• Execute on the one thing that you know you need to do and do it now.

• You will only change your behavior when you change it.

Getting ready to get ready is another way of saying work avoidance behavior. It’s time to execute your plan, roll out your website, purchase those online key words, schedule presentation meetings, etc. Do it today, you will be glad you did.

Join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link: https://www3.gotomeeting.com/register/393936198

To your Success

Joel

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com