Growing Your Food Chain… - Posted by David Butler
Posted by David Butler on August 23, 2003 at 19:27:53:
Hello Thom,
Actually there are any number of ways to go about finding holders of private notes, and most have been discussed at one time or another right here in this Forum. In fact, just using the term “finding notes” in the “Search” feature at the top of this Forum, I quickly pulled up 217 matches!
You can browse through these and obtain a wealth of information about note finding. Not all will apply of course, but regardless, you’ll gain the equivalent of a full workshop on the topic, and some great ideas. You’ll also find references to several books and courses related to marketing for private notes, that go into greater detail, and offer some “structure” to possible marketing plans that may work best for you.
By the way, many folks start out by trying to find that one “foolproof” marketing idea, or marketing plan, that will work best for them. But - nobody can give you that idea, or that plan. What works for somebody else where they live, may not work very well at all for YOU, where you live. What somebody else is comfortable doing, may not be in your comfort zone at all. Or the demographics are different. Or your budget is different. Or your personality is different. Or your time frames and/or schedule is different. Or something else.
No matter what it is, anybody can successfully find notes where they live, whether it is easier, or harder, than where I live. The key to successful marketing lies in several parts… with the overall philosophy being encompassed in Teddy Roosevelt’s perfect advice for all of us…
“Do the best you can, with what you’ve got, where you’re at”.
Beyond that, the steps to take include;
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gaining basic knowledge of the private note industry and fundamentals of making note transactions;
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exploring a number of possible ways to market your business where you live. Most note courses contain marketing information and strategies for finding notes. Some of these courses offer better information than others, but it doesn’t matter much; good basic books on marketing strategies and tactics are a dime a dozen and can be found at any bookstore or public library.
There are even some very specific marketing books written for the private note business. For years, Lisa Moren had a very good course, “Promoting Your Note Business”. Don’t see it offered anywhere these days, so not sure if it is still available, but it is a great little course for the money, and loaded with strategies, examples, templates, and forms. Try and find it somewhere if you can. Jon Richards has had several “finding notes” courses out over the years, at least one of which is available right on this website. John Behle also includes some in his courses. (I’ve included in-depth marketing chapters in my own note courses, as well as a stand alone note marketing program that seems to get good results for many folks.)
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determine your budget and time constraints;
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select some of the strategies you’ve researched, and match those up to your budget and time constraints, as well as your personal preferences.
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prepare a marketing plan built around Step 4
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implement your plan
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monitor your plan for results
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maintain consistency and repitition
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tweak your plan after you have given sufficient time and effort to obtain meaningful measurable results (example - 2 hits out of 10 tries is not an accurate parameter; 15 hits out of 100 is more reliable; and 125 out of 1000 is a better gauge yet). Also keep an eye out for changes in market conditions, or creative new ideas that might “spice” up your response rate.
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repeat Steps 3 through 9 annually!
Okay… this should give you a good launching pad for beginning from! Dig into the “Search” archives of this Forum next, and make some notes on the discussions that give you the “meat” you are looking for to put together Steps 1 and 2 above, then take it from there!
And best wishes for your success!
David P. Butler