Russ Dalbey - Finding Notes Easy
Posted: Tuesday, March 28, 2006
by Russ Dalbey
The Dalbey Wealth Institute
The Number 1 question from new people entering the cash flow business is always the same: "How do I get started!"
TThat question invariably goes right to the Number 2 question almost immediately - "How do I find notes?" -
Not bad questions - but a closer look at each, points out the several problems in trying to answer them. One, these questions are much too broad to provide a simple answer for. Second, they cannot possibly account for individual personalities and circumstances for each individual asking the question. Third, and perhaps most importantly - the plain fact is that there are many answers for both questions - and nobody can tell which of these answers is the absolute "bullet-proof" best answer for YOU, where you're at, with what you've got going on in your life!
All that is left for us to really do is to explore these resources - then simply connect-the-dots, to determine the best way for starting OUR own cash flow businesses, and the best ways for US to find notes to work with.
Cornerstones!
In this regard, there are some relatively simple answers for beginning our efforts! To quickly connect-the-dots in the note business, we only have to recognize and understand that there are four critical things that we need to have at the outset.
Education - a basic understanding of the note business itself, the basic deal mechanics that are involved in the various cash flow niches we operate in, and how to package and present notes we find to investors
Marketing - outside of a commitment to constant learning, the marketing function is the primary ongoing business activity for any cash flow professional. Without question, effective marketing is the primary determinant for success or failure in the cash flow business (indeed, as it is for all business enterprises).
Budgeting - Like all businesses, we are going to have to spend some money to succeed. How much money, is determined by what our marketing plan, and personal limitations are restricted too - so we must prepare a well thought out budget guideline that allows us to do the critical and necessary marketing function, at whatever level fits our financial abilities.
Determination - With the above three basic fundamentals in place, the one essential remaining requirement - individual dedication to the business. Full-time, or part-time, you have to work the business as a business, not simply as a "hobby". You need to dedicate your efforts to providing the results that will satisfy your clients' needs, and in doing so, satisfy your own. It will help immensely if you actually enjoy the business. If you enjoy it, you will find that you learn the things you need to know much easier, and you will enjoy the continuation of the learning process during your career.
- This process leads us right back to the beginning -
knowledge and marketing!
So How Do I Start - The only way you can!
Here's a perspective you might consider! As highly successful "housewife-turned-notemeister" Roberta Standen points out - "What if you just received a notice that your local Chamber of Commerce is sponsoring a 20-mile marathon next weekend. The winner gets a $10,000 prize. You could sure use the money, but you've never run a race in your life, and you haven't exercised since high school P.E. class! What can you do to win this race?" Not very much, right!
Fortunately, you don't face quite the same challenge - but it is still a challenge. What can you do, until you know what to do?
A lot of folks seem to think a great shortcut for succeeding in the note business is to simply go out and find the notes! While the marketing function will be deciding factor in determining your long-term success as a note finder - out of the above four elements, the education factor will ultimately determine whether or not you even get out of the gate -and how far you go in the race for success.
This basic " note-knowledge " is the key player of the second question.
How Can I Find Notes?
Having a basic understanding of what you are doing, and how you are doing it, is the whole basis of what you promote, and how you promote it! You are the whole package.
All of us are familiar with the well-worn phrase, "It's not what you know - it's who you know!" If you have been following the business press at all over the past two years or so, you'll see a whole new mantra coming out - and most of these business leaders are now saying the exact opposite. The new mantra is simply, "It's WHAT you know.
The reality is, if you want to get to Oz... the Yellow Brick Road is truly built on,
What you know
Who you know
Who knows THAT you know, WHAT you know!
The old "Knowledge Is Power" bromide still has a lot going for it. But it is probably more accurate to state, "Knowledge is Value". Like all values, knowledge isn't very useful without concerted action in the marketplace. Nothing has value to anyone unless they first, know about it, and second - that they recognize the benefit it has for THEM.
So, if you go into the marketplace without any kind of basic knowledge about what you do, and how it can help the people you are marketing too - what is it exactly that you are trying to market? What is your value proposition? What is it you are bringing to market, that somebody will pay you for?
Well, hey... how come I always heard I could "Earn While I Learn?"
Don't confuse that with "Earn BEFORE You Learn"! Big difference. The thing is, if you don't learn anything first, w hat can you possibly bring to the marketplace that somebody will pay you for? And, if you have no idea at all about what value you are bringing to the marketplace, how can you even tell somebody about it - or more bluntly - how will you find notes, and how will you know them when you see them?
The Ground Floor
Obviously, when you are first starting out in the note business, you cannot possibly know or understand how to work with every type of cash flow out there. You can't even learn all about just one type of cash flow! The good news is you don't have to!
You can learn how to get off the ground, and start "Winning In The Cash Flow Business" , simply by learning the most basic methods and techniques for moving forward on just one or two cash flows. This will put you in a position to earn while you learn, and then grow your cash flow business according to how you see fit.
More importantly, understanding this basic principal of success will also help keep you from trying to do too much - so that you don't wind up doing nothing. Rome wasn't built in a day. And neither was any small business! Bill Marriott started with a simple little root beer stand, long before launching the Marriott hotel chain. Dave Thomas, of Wendy's restaurant fame, started his career by opening The Ranch, a sit-down family diner.
And, Carl Karcher, the founder of Carl's Jr., and his wife, Margaret, made a leap of faith, and borrowed $311 on their Plymouth automobile and added $15 savings, to purchase the business. What began as one man's entrepreneurial venture in 1941 has evolved into one the most powerful entities in the quick-service restaurant industry. But he didn't start out that way - and he didn't try to. He started with the goal of building a successful business. It wasn't until 1956 that Carl opened his second restaurant, and by the end of the 1950's, there were still only four Carl's restaurants. And, people were eating there, even though he wasn't marketing as a Certified Fast-Food Chef, or as a member of the National Association of Restaurateurs, etc. And, Carl's Jr. is highly successful, even though they don't serve prime rib, or lobster-tails, or Baked Alaska.
Most American business grows that way, whether you work out of your home, or open a shop. Whether you are in the service business, or plumbing, car repair or what have you.
And most do not try to be all things to all people. Yet, every day, it seems that many of the people that look at note investing, feel they need to have some kind of "full-service", "fully-credentialed" note business. But you don't.
All you have to do is find notes - and find out all you can about those notes! Then, you can make offers on them, or refer them to other investors. And, that's what America's Note Network is all about - helping you find notes, list them and make money!
In closing I would strongly encourage everyone to market his or her business even if it's just a little bit at a time. And the personal newsletter program that the founder of "Winning In the Cash Flow Business, Russ Dalbey , created is phenomenal for helping you succeed.
www.witcfb.com
www.dalbeyblog.com
www.dalbeyeducation.com
This Article has been viewed 13,536 times. (Not updated in real-time.)
More commentsGood Afternoon,Russ.I,also recieved your Information on Winning in cash flow business. I Just started to read and finish the first Book.It is a good,begininng.I'M Getting It. and all is good.
i am having trouble with no traffic on website & courthouse search now they names noww richard henry ohio
YES,IT WAS HELPFUL.HOWEVER IT DIDN'T SPECIFY RESOURCES A PERSON CAN ACCESS TO FIND CASH FLOW NOTES.A COUPLE MONTHS AGO,I WENT TO THE ROCKVILLE CITY COURTHOUSE NEAR WHERE I LIVE TO FIND CASH FLOW NOTES AND WHEN I ASKED THE MANAGEMENT,"THEY TOLD ME THEY NO LONGER STORE THIS INFORMATION".WHAT CAN I DO?
we all have the same problem noway to view notes anywhere and anyhow!!I feel horrible I got my hopes up and getting my money back before I lose it.If he really cared hed hire more helpers so they can walk you through it.He cares to make money himself and not about us saps that trusted him.He has courses for 4000 dollars if you want to really work at this and I for one dont have it to spend.Who else do you think is on his tv commercials.Im a college grad and it impossible to get to view notes with no docket number,date and name.
It is Good Thing
when I call the c/s number ,I can never get through ,it is always "please try again latter", obvouusly not enough help ,,and I also need to change my p/w ,so I can get to the web sight if I can"t get ,I ca"t get things done
Like everyone else- I can never reach customer service- I cannot even get on the website given
me. This is some type of " RIP- OFF". I want my money back.
hey can some one hlpe me get this going i can get it for smoe risd i get something i dont have job so i got the winning in the cash folw but how do you get it satrs david griggs
I am one of your student but I never made no money yet. So please email me give your new number ok.helena gomez
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