Friday, October 3, 2008

Use Communication Skills To Reach Your Career Goals

Communication skills involve both speaking and listening to the client and showing your sincerity and professionalism. Communication involves receiving information, processing information and responding. You do this in a sequence of actions that require you to be attentive.
As a Sales Associate, you will depend upon your communication skills from the Meet/Greet to Thank/Follow-up।

You probably spend more time using your listening skills than any other kind of skill. Like other skills, listening takes practice. What does it mean to really listen? Real listening is an active process that has three basic steps.
Hearing. Just means listening enough to catch what the speaker is saying. For example, say you were listening to a report on zebras, and the speaker mentioned that no two are alike. If you can repeat the fact, then you have heard what has been said.
Understanding. The next part of listening happens when you take what you have heard and understand it in your own way. Let's go back to that report on zebras. When you hear that no two are alike, think about what that might mean. You might think, "Maybe this means that the pattern of stripes is different for each zebra."
Judging. After you are sure you understand what the speaker has said, think about whether it makes sense. Do you believe what you have heard? You might think, "How could the stripes be different for every zebra? But then again, fingerprints are different for every person. I think this seems believable."

There are three forms of listening: passive, selective and active.
Passive listening is a non-verbal form of listening. The listener provides little to no verbal feedback to the client. Passive listening can lead your clients to assume that you are not really interested, or they may feel it necessary to repeat themselves to ensure that you understand.
Selective listening can be summed up as “hearing what you want to hear.” When selective listeners hear what they want to hear, they appear to be engaged and to understand. Conversely, when selective listeners do not hear what they want to hear, they tune out the client, or worse, become reactive.
Active listening is sometimes referred to as reflective listening. Active listeners receive clients’ messages with care and respect and then work to verify their understanding of the message. Active listeners capture both the facts and the feelings of clients. Some behaviors to use are:
· Show patience
· Give verbal feedback to summarize understanding
· Acknowledge emotions
· Speak up when something is unclear, or confusing
Fundamental to good communication is using “active listening.” Whenever you listen actively to another person’s comments, your reason for doing so is to understand the meaning of the message from the speaker’s point of view.
Your clients have choices. If you don’t make them feel welcomed and valued, you will likely lose them as a client.

Wednesday, October 1, 2008

You Should Vote None of the Above

Second inauguration of Mayor Michael Bloomberg...Image via Wikipedia

In 1985 a movie came out staring Richard Pryor and John Candy called “Brewster’s Millions.” The plot: A minor league baseball player has to waste $30m in 30 days in order to inherit $300m; however he's not allowed to tell anyone about the $300m deal. It sounds easy but it is not because he could not have any assets to show for his wasteful spending. They had limitations such as how much you could give to charity and lose gambling etc.

The movie illustrates how difficult it is to spend that amount of money and to not have anything to show for it. It is funny how our government can spend $700 Billion of our tax money and easily have nothing to show for it. The roads are not fixed. Traffic congestion is at an all time high. My health care costs are not paid for, the school districts waste our tax dollars on stuff that does not help educate my children, and the list goes on and on.

Getting back to the movie, one of the biggest ways to waste money is to run for public office. Richard Pryor’s character learned that and decided to run for Mayor of New York City. In that seen he made a very interesting observation. He pondered the question, “Why are the candidates spending millions of dollars to run for public office when the job itself pays about a fraction of what is being spent to run for office?”

Do any of you ever wonder that same question? I believe the President of the United States which is the highest paying job in our Federal Government which $400,000 per year as of 2000. The president also can get a pension that can pay him or her over $7M in paid benefits before they pass away. Also keep in mind that most of the people that run for office are already rich like George Bush and are Multi-Millionaires.

So why spend $500M - $1B for a presidential campaign for a job that only returns a fraction of that. The ROI there is not positive but negative. Not only that who are the people that are donating all this money and why is it so important that their candidate win? Because these are very rich people who want to get richer and stay rich. They are paying for their government. Your $5 donation to Barack Obama or John McCain is not going to get you good government. If these candidates want to be president so bad let them spend their own money.

They won’t because they are not stupid. The system was created to keep the powerful in power and the weak out of office. They do not want to do right by the American People. They only want to do right for their friends. Why aren’t more Americans standing up and asking these questions? Why aren’t more Americans upset about how things are going on Main Street and Wall Street? If you are so upset why do you only vote Republican or Democrat? How about None of the Above? Vote but make your vote count and show that you all have a lack of confidence in both candidates and you want and deserve more choices except for the same 2 people that they recycle every 4 years.

Join the revolution at 104inc.com and voice your opinion. VOTE NONE OF THE ABOVE this November.

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Current Market Conditions Call for Specialized Consumer Vocabulary

:en:Category:Images of Atlanta, GeorgiaImage via Wikipedia

Market conditions in recent days have turned many arcane financial terms into familiar vocabulary. Words and phrases such as breaking the buck, securitization, counterparty risk and short selling are being used frequently in the media. But many of these terms are not easily understood by the average consumer who don’t deal with them every day.

Given recent news headlines, definitions of a few terms and phrases may be useful as you read daily coverage about the current economic environment:

Auction Rate Securities: Short-term instruments designed to preserve capital while generally realizing higher rates of return than traditional money market investments (for example, municipal auction rate securities, municipal preferreds and action preferred stock). Interest rates or dividends reset frequently, usually every seven to 49 days, via Dutch auction. The interest or dividends received can be 70% to 100% exempt from federal taxes. Issuers include states, municipalities, corporations, utilities, hospitals, housing finance agencies, student loan finance authorities and universities.

Break the buck: When a money market mutual fund's net asset value drops below $1 per share. Money market funds aren't federally insured like bank deposits; therefore, fund assets have an implied promise to preserve capital at all costs and preserve the $1 floor on share prices. These funds are regulated by the Securities and Exchange Commission; rules restrict what they can invest in based on credit quality and maturities with the hope of ensuring principal stability.

Collateralized Debt Obligation (CDO): An investment-grade security (one with a high bond rating such as BBB) backed by a pool of bonds, loans and other assets. CDOs do not specialize in one type of debt but are often non-mortgage loans or bonds. Similar in structure to a collateralized mortgage obligation (CMO) or collateralized bond obligation (CBO), CDOs are unique in that they represent different types of debt and credit risk. In the case of CDOs, these different types of debt are often referred to as “tranches” or “slices.” Each slice has a different maturity and risk associated with it. The higher the risk, the more the CDO pays.

Commercial Bank: A full-service institution that offers customers deposit, payment and credit services, in addition to other financial services.

Counterparty risk: The risk to each party of a contract that the counterparty will not live up to its contractual obligations. A counterparty is the other party that participates in a financial transaction. Every transaction must have a counterparty for the transaction to go through. More specifically, every buyer of an asset must be paired with a seller that is willing to sell and vice versa.

Credit Default Swap (CDS): A swap* designed to transfer the credit exposure of fixed income products (securities that pay specific interest rates, such as a bond, money market instrument or preferred stock) between parties. The buyer of a credit swap receives credit protection, whereas the seller of the swap guarantees the credit worthiness of the product. By doing this, the risk of default is transferred from the holder of the fixed income security to the seller of the swap. For example, the buyer of a credit swap will be entitled to the par value of the bond by the seller of the swap, should the bond default in its coupon payments.

*Note: a swap traditionally means the exchange of one security for another to change the maturity (bonds), quality of issues (stocks or bonds) or because investment objectives have changed.

Deleverage: A process undertaken by a company in an attempt to reduce its financial leverage, or the degree to which the company is using borrowed money. Financial leverage can be beneficial for a company, but if it becomes too risky or harmful, the company may need to deleverage itself by paying off the amount of debt that it owes.

Derivative: In finance, a security whose price is dependent upon or derived from one or more underlying assets. The derivative itself is merely a contract between two or more parties. Its value is determined by fluctuations in the underlying asset. The most common underlying assets include stocks, bonds, commodities, currencies, interest rates and market indexes. Most derivatives are characterized by high leverage.

Investment bank: An individual or institution that acts as an underwriter or agent for corporations and municipalities issuing securities. Most also maintain broker/dealer operations, maintain markets for previously issued securities and offer advisory services to investors. Investment banks also have a large role in facilitating mergers and acquisitions, private equity placements and corporate restructuring. Unlike traditional banks, investment banks do not accept deposits from and provide loans to individuals.

Money market deposit account: A type of savings account offered by banks and credit unions just like regular savings accounts. However, they usually pay higher interest, have higher minimum balance requirements and limit the number of withdrawals per month. As with bank accounts, the money in a money market account is generally insured by the Federal Deposit Insurance Corporation (FDIC) subject to certain limitations. The recent announcement from the U.S. Treasury regarding money market mutual funds does not affect money market deposit accounts or impact FDIC insurance of such deposit accounts.

Money market mutual fund: A fund that invests in a pool of high-quality, short-term, interest-bearing securities. A money market mutual fund is not a bank deposit and is not insured or guaranteed by Bank of America, the FDIC or any other government agency.

Resolution Trust Company (RTC): A U.S. government-owned asset management company charged with liquidating assets (primarily real estate-related assets, including mortgage loans) that had been assets of savings and loan associations declared insolvent by the Office of Thrift Supervision, as a consequence of the savings and loan crisis of the 1980s. In 1995, its duties were transferred to the Savings Association Insurance Fund of the FDIC. Between 1989 and mid 1995, the Resolution Trust Corporation closed or otherwise resolved 747 thrifts with total assets of $394 billion.

Securitization (or securitized assets): The process of distributing risk by aggregating debt instruments (for example, mortgage loans) in a pool, then issuing securities that are backed by the pool and available for purchase by investors in the secondary mortgage market.

Subprime mortgages: A type of mortgage that is sometimes offered to borrowers with a greater-than-average risk of defaulting on the loan. Lending institutions often charge interest on subprime mortgages at a rate that is higher than a conventional mortgage (often referred to as “prime”) to compensate themselves for carrying more risk.

Short sale: A transaction in which an investor sells borrowed stock, betting the stock will decline with the intention of buying it back at a lower price to realize a profit.

Warrant: Certificate given to its stockholders or bondholders by an issuer that allows the holder to purchase a specific amount of its securities at a set price. A warrant can be sold to another investor if the holder chooses not to exercise the warrant.

You should be aware that http://104inc.com is always a useful resource for terms and acronyms. You can help keep 104inc stay current by submitting updates and ideas for features you would like added to the site through their feedback button.

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Tuesday, September 30, 2008

We Will, We Will, Barack You!

Well, ladies and gentleman, the magic number is now 35. 35 days until election day. Where do you stand? Where should you stand? Well, I'll tell you one thing. Anyone who votes for McCain might as well jump on the first ship, plane, train, helicopter, pigeon, or anything else that moves out of the country. Now, don't get me wrong. Bush III, err...McCain is a solid guy. A war veteran, former POW - we all know his resume; but the shear fact that his running mate is a nonsensical, Oprah-watching, I-can't-answer-one-question-with-an-intelligent-answer soccer mom scares the ever-loving crap out of me. Can you imagine if, God forbid, something happened to McCain (72 years old and not in the best condition), then our Commander in-chief would be....gulp...Sarah Palin. Wow. I just started convulsing at the thought of the Lifetime Channel taking over the television airwaves. OK, now I'm just terrified - and I think I just threw up a little. That woman has no business in office, and McCain would be wise to change his running mate (if that's possible). Now, for all you reading this that are currently flipping through a thesaurus to come up with every synonym of chauvinist, let me make this perfectly clear. I voted for Hilary Clinton in the primaries because of her experience, intellect, and proven past of the Clinton family. This is not a 'I am man, hear me roar' rant. I don't care if there's a woman in office, as long as it's the right one.
Okay, I better change course a bit, because I'm getting fired up. I suppose it's obvious that I am a democrat and a strong Obama supporter. Now, who reading this saw the debate? And of you who did, who was for McCain, but after seing the debate, feels like Obama may be the better man? I thought so. McCain was flustered, not confident, and was caught multiple times spewing false statistics, to which Sen. Obama called him out ever time.
So, I ask you, Mr. John McCain, what is your master plan? This 'plan' we have heard about, but yet know nothing about. McCain/Palin are in short, a deadly combo... and I don't mean that as a compliment. He can't back up anything, she can't answer a question, and all they do is waste their time bashing Obama and his crew, in hopes that the retarded voters who elected Bush not once, but twice, will vote for them. They hope that the bon-bon popping Oprah fanatics will 'relate' to the stultifying nature that is Sarah Palin. I mean, if McCain must use Palin, perhaps he could consider swapping her out with Tina Fey (comedienne from Saturday Night Live); with the uncanny ability to do a spot-on impersonation of Palin, Tina Fey has more substance and actually has the ability to answer questions.
The choice is simple. The choice is ours...and yours. But as for this man, I say the answer is clear....OBAMA or bust.
I'm getting Virgin Atlantic on standby in case McCain/Palin win - I'll be on the first flight to Prague.
Need any more help? Not sure which way to go? Well, at least there's one easy choice. Log on to 104Vote.com for related articles on the upcoming election, as well as simple and easy ways to accommodate all your needs!

Monday, September 29, 2008

Got an extra $5,000 to spend?

WASHINGTON - JULY 11:    U.S. Secretary of the...Image by Getty Images via Daylife

Got an extra $5,000 to spend?

Yep, that is how much you and every American will be paying for the government bailout. This does include your children. Luckily, it doesn’t include your cats, dogs, and fish. This year’s bailout includes the following items: $700 billion proposed Wall Street bailout; $85 billion for AIG; $200 billion for Fannie Mae and Freddie Mac; $150 billion stimulus package (your $600/person rebate check); $438 billion projected Federal deficit; and a small $29 billion bailout for Bear Stearns. Makes you glad you got that rebate check earlier this year, doesn’t it?

The scary part is that this number will probably grow. The Treasury Department is really just asking for a blank check and they won’t have any accountability to Congress or anyone else. There is the potential to include more than problem mortgages in this package. Car loans, student loans, and credit card debt could all be included in this package. This $700 billion Wall Street bailout could grow to over $2.5 trillion dollars.

Just in case you were curious, this won’t help only American banks - it will also help foreign banks. Pretty nice of the US taxpayer to help the world. Though, I guess we did help create the problem.

It was all about trying to take advantage of the system. The investment banks came up with inventive ways of repackaging debt. The rating agencies went along with something they obviously didn’t understand. Then, we didn’t think and went along with their greed. Why? Because we are just as bad as Wall Street is.

Some people bought houses with “neg am” loans. What a concept – you can make a payment, but it doesn’t have to even cover your interest payment - just go deeper in debt. The other cool idea was tapping into your new found “equity” in your home. Just refinance or take out a home equity loan, take out some cash, and go deeper in debt. Well, at least you got to buy a Gucci bag and a jet ski. Hope it was worth it.

Yell and scream at Wall Street and the government all you want, but we are just as much to blame.

Luckily, www.104inc.com isn’t going to be asking you to help them out. Go check out their website to get away from this mess.

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How to Pursue a Strategy of "product Leadership"

business to business search marketing presenta...Image by sean dreilinger via Flickr

To pursue a strategy of "product leadership" entails delivering value through offering leading edge products and services, providing a stream of new products and services, and creatively adapting to new and changing marketing conditions while constantly pursuing new solutions on behalf of its clients and customers.

This strategy depends on an organizational structure that, among other things, is very research and development centered (if a manufacturing company) or extremely knowledgeable about the products and services currently being developed and considered in the market place. In addition, the firm's Sales & Marketing Departments must be part and parcel of their customer's business planning process so as to be able to anticipate future needs, to supply that need, to teach their customers new approaches and solutions to their problems, and particularly to be able to direct their customers into avenues they hadn't entertained on their own as being profitable directions.

In contrast to (but overlapping in certain respects with) the organizational structure demanded by a "customer intimacy" strategy, "product leadership" requires an organization that is not bureaucratic but rather quick to action and opportunistic in intent. Personnel tend to be organized into matrix teams that cross departmental lines since this type of structure provides the fastest response time. At the same time, since decision making authority is spread throughout the firm, risk management is carefully monitored.

In addition, in order to stay current with clients' long range plans to which their input could be invaluable, "relation selling" is essential. These firms have not only the sales force, but also as many other departments as they can, in their clients' planning meetings. The firm's personnel take on an advisory and consultative role, putting them in the position of informing their clients' strategic thinking and anticipating their needs.

An advertising and PR firm continually scans the marketing environment for new approaches to offer their clients and for creative talent with whom to partner either temporarily or long term. They are continually meeting with their clients to review these new approaches and the opportunities their newly discovered talent opens up.

In order to achieve this level of "service leadership", personnel are teamed into matrices, with each team having the responsibility to bring fresh ideas and directions to their clients. They joke about having offices at their clients because they are rarely seen in their home offices. Communication between team members is so crucial that each team has a designated person whose primary responsibility is to ensure that everyone knows what everyone else on the team is doing and to serve as a liaison to senior management. In addition, the teams convene regularly to review not only the latest presentations and their impact, but also what is out there in the market place, who is doing what, etc., and how can they partner or ally themselves with the talent that is out there.

Because the cost of this kind of process is high (e.g., voluntarily preparing project ideas with accompanying support material clients hadn't even initiated or requested), Finance is regularly consulted about each team's ROIs.

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