“So much of what we call management consists in making it difficult
for people to work.”
- Peter Drucker

Boss Style – getting along with a difficult boss

Do you clash with your boss?
Do you have trouble communicating with your boss?
Does your boss take you seriously or do you feel left out?
Are you thinking of leaving your job because of your boss?

In survey after survey, one of the reasons given for people leaving their jobs is that they didn’t get on with their boss. In most cases it’s usually caused by a clash of personalities.

Getting along with your boss is often the difference between enjoying and hating your job. The key is to mirror your boss’s personality style. So rather than leave your job, here are some ideas to re-connect and improve the relationship.

Let’s first identify the personality style of your boss and how you can create a great working environment with each BOSS STYLE.

DRIVER BOSSES

Does your boss tell you what to do, and how they want it done? Do they want things done now? Do they underestimate the time it takes or the work required?

Are they control freaks. Do they make decisions quickly? Do they micro-manage and ask for reports they don’t read. Do they raise their voice and have a quick temper. Do they have a lack of people skills?

If this sounds like your boss, then they are likely to be a DRIVER personality.

Here’s what to do to keep a DRIVER boss on your side.

• Be direct. If you don’t think you can do it on time, say so. Let them know when it will be done. Be positive.
• Keep your communication business like, stay away from gossip and don’t use emotional terms.
• Keep it factual and brief. Use bullet points and avoid lengthy emails, reports or conversations. Stick to the facts, short and sweet.
• Give your boss choices. Let them decide. You provide the options.
• Have up to date information at your fingertips. Don’t say you don’t know. Say, you’ll get right back with the answer.
• Provide action plans, and get things done, don’t complain or make excuses. Take the blame if its your fault and move on.

PROMOTER BOSSES

Does your boss look to the future more than the past or present? Are they always enthusiastic and bubbly with lots of ideas?

Do they want to make the job fun? Are they social people who work in teams? Do they run late for meetings and are often disorganised. Do they avoid details and just see the big picture. Are they flashy dressers, use emotional language and wave their arms about. Are they easily distracted? Do they make decisions on how they feel?

If this sounds like your boss then they are a PROMOTER personality style.

Here’s what to do to keep a PROMOTER boss on your side.

• Promoters rush from one idea to another so get them to slow down and consider your proposal.
• The best way is to have a single sheet summarising your ideas and what you would like done and by when.
• Present them with a plan and a list of things that need doing.
• Assure them that you are there to help and support their ideas.
• Be enthusiastic and positive, Promoters value people who are.
• Be prepared to listen, Promoters love to express their ideas.

SUPPORTER BOSSES

Does your boss stick with practical procedures and systems? Are they predicable and do things in a steady unhurried manner?

Do they take their time and can often be unsure or indecisive. Do they try and keep the peace. Are they easily persuaded? Do they take a conservative middle of the road approach? Are they likeable and always ready to help and are dependable. Are they a patient listener who doesn’t get upset? Do they have good administrative skills and are good at working under pressure. Do they always try to do things the easy way?

If this sounds like your boss then they are a SUPPORTER personality style.

Here’s what to do to keep a SUPPORTER boss on your side.

• Be on time to meetings.
• Don’t talk loudly and avoid arguments
• Be considerate and don’t attempt to rush, push or corner them.
• Give them time to decide.
• Have your reports or presentations well organised with all facts to support your position.
• Communicate with a Supporter often.
• Stay in regular contact no matter how brief.
• Supporters prefer simplicity so an email or text can be easier than meeting.

ANALYSER BOSSES

Is your boss the kind of person who does everything by the rules? Are they usually serious and conservative in views and the way they dress?

Are they perfectionists who want everything done absolutely right? Do they set high standards? Are they picky and anal about things? Do they get moody? Are they unsociable and introverted? Do they have trouble dealing with people issues? Are they hard to please? Do they lack a sense of humour and fail to see the funny side. Do they prefer to work alone?

If this sounds like your boss then they are an ANALYSER/ADMINISTRATOR personality style.

Here’s what to do to keep an ANALYSER boss on your side.

• Be on time, in fact be early.
• Be prepared, have all the data and information at your finger tips.
• Present in an orderly non emotional manner. Give them time to consider.
• Be business like and deal only with facts and avoid going off track. Stick to the issue.
• Ask for their assistance in solving problems and for their expert knowledge.
• Put things in writing.
• Accuracy and detail are more important than emotion so keep discussions factual.

“It is amazing how much you can accomplish when it doesn’t matter who gets the credit” - Anonymous

Take Your Test here and Findout who you Are….

Think Win-Win
By: Author Unknown

A man died and St. Peter asked him if he would like to go to
heaven or hell. The man asked if he could see both before
deciding.

St. Peter took him to hell first. There the man saw big hall
containing a long table, laden with many kinds of food. He
also saw rows of people with pale, sad faces. They looked
starved and there was no laughter.

And he observed one more thing: Their hands were tied to
four-foot forks and knives and they were trying to get the
food from the center of the table to put into their mouths.
But they couldn’t.

Then, St. Peter took him to see heaven. There he saw a big
hall with a long table, with lots of food. He noticed rows
of people on both sides of table with their hands tied to
four-foot forks and knives also. But here, people were
laughing and were fed and healthy-looking. The people were
feeding one another across the table.

The result was happiness, prosperity, enjoyment and
gratification because they were not thinking of themselves
alone; they were thinking win-win.

The same is true of our lives. When we serve our society,
our customers, our families, our employers and employees, we
automatically win.

“Lack of loyalty is one of the major causes of failure in every walk of life” — Napoleon Hill

————————————————–

The Perfect Boss

By: Author Unknown

There were about 70 scientists working on a very hectic project. All of them were really frustrated due to the pressure of work and the demands of their boss but everyone
was loyal to him and did not think of quitting their job.

One day, one scientist came to his boss and told him, “Sir, I have promised my children that I will take them to the exhibition going on in our township so I want to leave the
office at 5:30pm.”

His boss replied, “OK, You’re permitted to leave the office early today.”

The Scientist started working. He continued his work after lunch. As usual, he got involved to such an extent that he looked at his watch only when he felt he was close to
completion. The time was 8.30pm.

Suddenly he remembered the promise he had made to his children. He looked for his boss but he was not there. Having told him in the morning himself, he closed everything
and left for home. Deep within himself, he was feeling guilty for having disappointed his children. He reached home. The children were not there. His wife was alone and sitting in the hall reading magazines. The situation was  explosive; any talk would boomerang on him. His wife asked him, “Would you like to have coffee or shall I serve dinner straight away?”

The man replied, “If you would like to have coffee, I will too, but what about the children?”

Hi wife replied, “You don’t know? Your boss came here at 5.15pm and has taken the children to the exhibition.”

What had really happened was … The boss who granted him permission was observing him working seriously at 5.00pm. He thought to himself, he will not leave the work, but if he has promised his children then they should enjoy the visit to the exhibition. So he took the lead in taking them to exhibition.
A boss does not have to do this kind of act, and not all the time, but once something of this nature is done, loyalty and appreciation is established.

Smoke and Mirrors

Olly Newland’s Column, September 2008

The Reserve Bank of NZ lowered the official cash rate by 0.5% and that’s good.
The trouble is that’s all it is — good.

It will not solve the credit crunch.
It will not stop the recession.
It will not stop unemployment rising.
… and it won’t stop the property market from sliding further.

We are caught in the slipstream of world events and, short of discovering huge oil deposits in the middle of Wellington Harbour, we will continue to be buffeted by the collapses and bail-outs that we have seen and read about — locally and offshore.

As I write this, several big US financial institutions have collapsed or are on the point of collapse (Lehman Brothers, Merrill Lynch, AIG just the latest) in a string of events that, collectively, are unprecedented since the depression of 1929. There will be more to come, you can be sure of that.

All this was doubtless caused by the smoke and mirrors created by whiz kids with their new forms of financial instruments (derivatives of mortgage pools, Consolidated Debt Obligations etc) that nobody really understood… least of all them. Even more astonishing, the pillars of the banking world (Barclays, Chase, UBS, et al) bought them hook line and sinker.

As I have alluded to previously, the financial world has become a vast gambling den, dominated by those who delight in creating complex deals, rather than simply investing and getting fair profits in return.
For this folly we will all have to pay — sadly some more than others.

If there is one thing to learn out of this credit crunch carnage it is this: ‘Keep it simple’

Write that on your office wall and remind yourself of it every day.

On the local front, the coming General Election will tend to fudge matters as many eyes will be on the polls and the results. The Ancient Romans used the same trick to appease the masses with ‘bread and circuses’.

It is my view that we are entering a quieter phase right now — but it may only be temporary.

Early next year, well after the election hype has died down, the new government will have to face the realties of the marketplace — and it won’t be easy.

Political considerations
From my experience, Labour governments are good for property investors. National governments are not. This is nothing to do with my political preferences. It’s just statement of fact.

Labour governments generally spend like crazy to keep the workers happy and hang the consequences.

This then flows into the pockets of investors until we finally get a ‘Big Bang’ (such as now) and things all get terribly messy. Then the party is over and we all go home with hangovers.

Next, National has to come in and clean up the mess and in doing so often has to dish out unpalatable medicine — we all don’t like it, but we have to take it because we know it’s good for us.

This has been the pattern in the past, and will in my view likely be the pattern again.

The Finance Company Fiasco
The impact of the collapse of what seems like scores of finance companies (plus the freezing of many other funds) cannot be overstated in seriousness.

I predicted this scenario in my book The Day the Bubble Bursts but even I am staggered at the ferocity and the speed of events as they continue to unfold.

Flowing directly from these financial fiascos is the evaporation of billions of dollars of purchasing power, either lost for good or locked away for the duration.

The lifeblood of the property and development industry has been choked off with the unfortunate flow-on effects of job losses, soaring mortgagee sales, and record bankruptcies and receiverships.

As the facts are revealed and the lax practices of some of the financial cowboys exposed, one can’t help but wonder how it was possible that with all the expertise available to them, they could have got it so wrong.

I have seen all this before. This nightmare takes years to work through the system. It will be many more years before we can enjoy the sort of boom we’ve all benefitted from in the recent past.

We will be lucky if the market just hovers above flat-line for the foreseeable future.

Skulduggery
One of the scandals still emerging from the finance company mess is the dodgy way some financiers created false ‘profits’ and creamed off huge dollops for the promoters.

In some cases it worked like this: (in very simple terms) Dodgy Finance Co would issue a prospectus and raise $100M from Mum and Dad investors.

‘First Ranking Fully Secured Debenture Stock’ these investments were pompously labelled. (More like ‘First Ranking Rubbish Secured Against Thin Air’, I would say.)

Dodgy Finance Co would make a deal with the Bent Developers Co to launder the $100Million in such a way as to make it appear as being a good deal all round.

Bent Developers wanted (say) $70Million to buy some bare tussock land by a weed-choked lake and to erect 1,000 shonky houses to on-sell to dummies for a huge profit in three, four or five years time.

Dodgy Finance would say ‘Here is the $70Million you want, but you must sign up to pay us back $100Million — being capitalised interest, our fees, and a share of your profits.’

Bent Developers would duly agree and, Hey Presto!, Dodgy Finance could claim it had made a instant $30Million profit!

Then Dodgy Finance Co could take $20million out in cash and pay it to the promoters of the debentures (the directors often enough) while the remaining $10Million would put aside to pay the investors ‘interest’ so as to keep them quiet until the next dollop of investment money came in.

So no real profit was made at all.
It all came out of the original $100Million that the naive and trusting Mums and Dads had advanced in the first place.

The whole scheme came unstuck, of course, when the market for shonky homes located by weed-choked lakes dried up and stopped selling to the gullible public.

An implosion can happen just as quickly as an explosion.

Hence we have the current finance company debacle and the flow-on or knock-on effects. These will reverberate for years to come.

But wait! It could get worse.

Moratoria
Those finance companies that are in receivership are dog-tucker for all intents and purposes, but some are seeking a ‘moratorium’ — in other words they are trying to get themselves up and running again using their boot straps (and the forbearance of their creditors and investors) as leverage.

If they manage it, then I will be the first to cheer. Really. We property investors need imaginative finance companies, rather than po-faced trading bank managers, to assist us with the more risky, unconventional deals (but not crazy, off the planet ideas). We need their help to fund the deals which can make investing so much more challenging and rewarding.

I have to say that to date the few finance companies that have struggled to their feet again, have come up with some pretty bizarre schemes. Some of the proposed arrangements, simply put, swap an investor’s deposit for shares or some other security which will take a lifetime to collect in full — if ever.

Better than nothing I suppose (in some cases, barely) but they’re really akin to burning the furniture to keep the house warm.

However, we must remain vigilant.

Back in the aftermath of the Crash of ‘87 (and the late 70s as well) when similar collapses occurred, one of the schemes tried was simply an attempt to rort the investors with smoke and mirrors.

For example I was caught up in a scheme in the late 80s where ABC Finance (not their real name) which was about to go into receivership, tried to get out of the strife by claiming to inject a large amount of money out of the pockets of the directors and so recapitalise the company anew.

Now you would say, ‘That’s great!’
Good on them!
But there was a catch you see.

What the directors came up with was a deal where they, the directors, would give to ABC Finance a huge lump of bare land which they had had valued by a (friendly) valuer at $300Million but which ‘only’ had a $200Million mortgage over it.

‘Look’ they cried. ‘Here is our capital injection. There is an equity of $100Million which we are giving away to help the company onto its feet again.’

Needless to say, raspberries all round was the response. I just escaped from that mess by the skin of my teeth and soon after ABC Finance went under, as it richly deserved. (They still owe me $13 million plus interest but aren’t answering calls.)

Keep an eye out. It wouldn’t surprise me if this idea was tried again.

The Knock-on effect
There is a mood among many that the current turbulence in the market is a temporary thing and it will all be over by Xmas. Next year all will be better and the property boom will carry on from where it left off.

I sincerely hope they are right — but my logic tells me that it will take longer than that.

Based on my experiences of the past, I believe it will take several years for the property market to come right. My advice to investors is to take any profits they may have now and cash them in — or be prepared to hang on for five years, maybe even ten years.
If the market hasn’t come right by then, we are all custard.

History teaches us that the market always does come right and in five or ten years from now, we will look back and laugh at the prices of property now as compared with the prices then.

I recall back in the late 70s making headlines and being paraded on TV because I predicted that houses would one day sell for a million dollars or more. This was when you could buy a nice 3 bedroom house for under $100,000.
Well I predict that ten years from now the median price will be over $1Million and that will be regarded as cheap.

The trouble is, we have to survive in the meantime in the market we live in — and that fact has been lost on many, especially the developers who were bedazzled by the big numbers and not the facts.
As well as the financiers who backed them, there has been a rash of developers going under of late (some hanging on by their fingernails) who treated the New Zealand market as if it was Hong Kong, or New York.

What was the developer Dave Henderson of the Big Hole in Queenstown thinking with his stalled 500 house development?
What was Patrick Fontein thinking with his stalled 700 house development at Orewa with another similar development at Huka falls?
What was Mark Bryers thinking with his Blue Chip attempt to corner the apartment market — especially now that his schemes have thrown thousands of Kiwis on the financial scrap heap?

At this moment there are scores of other developers who have bet against the market, or gotten their timing very wrong — subdividing and building around lakes near country towns or on thinly populated sea shores in the pious but deluded hope that the market will absorb everything — no matter how big.

I predict many more developers will go under in the months ahead as the market crumbles. Existing or potential buyers simply can’t get the cash anymore. You cannot get blood out of a stone and no matter what, people who may have signed up to buy that romantic lakeside section (or that nice new townhouse) a few years ago, will be forced to walk away from their contracts because they simply have no choice!

Up and down the country, tens of thousands of people are facing severe financial stress (ruin in some cases) because of finance company failures, developers’ failures, business failures or just simply the credit crunch.

This could take years to flow through the system so it could be years before the market recovers.

The only quick way out, as I see it, is to endure another round of hyper-inflation (also known as ‘the speculator’s friend’) as this make people spend rather than save. After all, it is well known that rampant consumerism greatly helps the economy.
Welcome to Capitalism.

Nevertheless, if you have cash or can borrow, and you have faith in your abilities, then there is a killing to be made in selected parts of the market today.

Those who read The Day the Bubble Bursts will recall that I wrote a chapter on the coming ‘tidal wave’ of cheap and shoddy apartments. I said that they would end up being sold for fifty cents in the dollar.

This has come to pass just as I predicted, and if I had the time and inclination there is one area of the market that I would be investing in right now. I would be buying up cheap, oversold apartments in the city centres — those that aren’t rubbish, of course.

This market has had its correction early, and the prudent buyer could do very well indeed by trawling through the ruins with an eye to the future. In time we will all look back at today’s depressed prices and wish we had bought truck-loads of them.

One further caution: Buy only freehold apartments — NOT those on leasehold land — and with at least one dedicated car park each.

Likewise, nice standard three bedroom family homes on full sites in leafy suburbs will be all the rage as more and more people end up in shoe boxes on the 25th floor.

Leasehold v Freehold
Oh, the irony! Mark Bryers of Blue Chip infamy is having his own home sold up by mortgagee sale.
Click here: http://www.stuff.co.nz/4692208a13.html

Now he can have taste of the medicine he has dished out so cruelly to so many innocents.

But there is another lesson here: Never, ever buy residential property on leasehold land.

It may be cheaper to get your foot in the door, but as I have explained in talk after talk and seminar after seminar, every year that ticks by on that ground lease brings the next rent review closer and closer.

A new generation of investor is learning that while you fight to hold the value up (and even increase it), the ground lease pushes the value down until it becomes virtually unsaleable.

Stick to freehold and never be tempted.

Conclusion
I am not convinced that we are out of the woods just yet, even if the combined effects of the falling dollar, lower oil prices and warmer weather, not to mention the impending general election, makes everyone FEEL better.

Having seen these false dawns before, and having been bitten hard by them, I tend to remain skeptical — but hoping that this time I will be mistaken, and we really are turning the corner.

My advice: Remain cautious for the time being. Get out and look for bargains, by all means as I said last month.
Do your market research, and even polish up your finances. See what you can find without necessarily committing yourself — unless you know it’s a steal.

If the market really is improving, it is better to be a day too late than a day too early.

Amazing  What you get To Know when you have been around for 40 odd years doing these things and actually take the time to check out what you are being offered before you thrust your hard earned money into the grubby fat paws of a bearly twenty + Shyster. So Here’s my advice:

1. Check out the Property

2. Check out the seller

3. Check out the promotor

4. Check out the Area history

5. Research the market [actual market]

6. Check out the suitablity for your intend purpose

And there is the slightest doubt ran like wind, run like the worst monster you can ever imagine are after you …….

because they Most probably ARE !

Building Your House
By: Author Unknown

An elderly carpenter was ready to retire. He told his
employer-contractor of his plans to leave the house-building
business to live a more leisurely life with his wife and
enjoy his extended family. He would miss the paycheck each
week, but he wanted to retire. They could get by.

The contractor was sorry to see his good worker go and asked
if he could build just one more house as a personal favor.
The carpenter said yes, but over time it was easy to see
that his heart was not in his work. He resorted to shoddy
workmanship and used inferior materials. It was an
unfortunate way to end a dedicated career.

When the carpenter finished his work, his employer came to
inspect the house. Then he handed the front-door key to the
carpenter and said, “This is your house… my gift to you.”

The carpenter was shocked!

What a shame! If he had only known he was building his own
house, he would have done it all so differently.

So it is with us. We build our lives, a day at a time,
often putting less than our best into the building. Then,
with a shock, we realize we have to live in the house we
have built. If we could do it over, we’d do it much
differently.

But, you cannot go back. You are the carpenter, and every
day you hammer a nail, place a board, or erect a wall.
Someone once said, “Life is a do-it-yourself project.”
Your attitude, and the choices you make today, help build
the “house” you will live in tomorrow. Build wisely!

The Weathered Old Barn
By: Author Unknown

A stranger came by the other day with an offer that set me
to thinking. He wanted to buy the old barn that sits out by
the highway. I told him right off he was crazy. He was a
city type, you could tell by his clothes, his car, his
hands, and the way he talked. He said he was driving by and
saw that beautiful barn sitting out in the tall grass and
wanted to know if it was for sale. I told him he had a funny
idea of beauty.

Sure, it was a handsome building in its day. But then,
there’s been a lot of winters pass with their snow and ice
and howling wind. The summer sun’s beat down on that old
barn till all the paint’s gone, and the wood has turned
silver gray. Now the old building leans a good deal, looking
kind of tired. Yet, that fellow called it beautiful.

That set me to thinking. I walked out to the field and just
stood there, gazing at that old barn. The stranger said he
planned to use the lumber to line the walls of his den in a
new country home he’s building down the road. He said you
couldn’t get paint that beautiful. Only years of standing in
the weather, bearing the storms and scorching sun, only that
can produce beautiful barn wood.

It came to me then. We’re a lot like that, you and I. Only
it’s on the inside that the beauty grows with us. Sure we
turn silver gray too and lean a bit more than we did when we
were young and full of sap. As the years pass we use the
hard wealth of our lives, the dry spells and the stormy
seasons, to do a job of beautifying our souls that nothing
else can produce. And to think how often people complain
because they want life easy, when it is because of the
struggles we live through that we become the people we are.

Find peace with who you are and embrace the problems you
come up against every day. You will only become more
beautiful for it.

I came across this from my Good Friend and know that others out there are FULL OF IT I decided to Share this with you ..Be warned…

“When Fools Rush In”

Olly Newland’s Column, August 2008

We are now about six months into the real property downturn. Until last December there was still a positive note — despite the collapse of several finance companies and with other hints of worse to come.

Now there are those who say ‘the worst is over’ and that we can look forward to a more stable market and the resuming of the property bubble.

I do not believe that at all. Some optimists and their advisors are merely seeing a false dawn, in my view, and there is much more pain to come.

Since the beginning of the year, many more local finance companies have collapsed or shut their doors, and overseas the financial markets are still deep in trouble.

Sooner or later there will be a real crisis, with emergency measures to be taken — and that will be the end of the beginning.
It often takes a crisis to solve a crisis.

Judging from previous experience, I’d say we are probably about one-third of the way through the problem, with much more unpleasantness to come, but (and this is an important distinction) only for a relatively FEW.

Learning from the past
During the 1987-1991 meltdown down both locally and internationally I was continually amazed to see that the restaurants were full, properties were still sold for good prices, people continued to go on expensive overseas trips and buy the finest wines.

This taught me that a recession (for that is officially what we are in) really only affects a small number of people. For many, it is business as usual.

While 10% of the population may be suffering in the recession, 90% ARE NOT.

Now all this is good news indeed for many property owners and I, for one, am more optimistic than ever. Here’s why.

If we are one-third of the way through with two-thirds to go:
It means that the real upturn (or least a stable market) will likely arrive towards the end of next year, 2009. Hence, most of us can while away the the rest of recession in relative comfort until then.

It means that investors can now drive bargains that were unthinkable to many 12 months ago. Take advantage of this while you can.

It means that fuel prices should steadily fall (not all the way back, but enough to take the hurt away), interest rates should drop (cheers!) and the banks will relax their po-faced attitude of today and be more realistic tomorrow.

All we have to do is survive for the next 18 months or so, gather up real bargains in the meantime, and get ready for the better times ahead.

Can we get this over with?
You may well may ask if the difficulties we are seeing now could be put right more quickly?
In my view, no, that will not be possible for the following reasons:

(1) Something like $4 billion or $5 billion of people’s spending power has been locked up in failed or frozen finance companies. For an economy the size of New Zealand this is way too much. It matters very little if the frozen money is lost or is eventually returned in part — the effect is the same.

(2) Remember that the statistics quoted — that ‘only’ around 16,000 investors are affected — are patently untrue. Each investor will have have dependants and family, all of whom will be affected to one degree or another. More likely 300,000 people have been affected with stalled deals, properties not settled, projects frustrated, purchasing power crimped. This takes a long while to work through the system, and hence the time delay.

(3) In addition to the finance company debacle, we have more and more lay-offs, and companies reducing profits. All this tends to make people think twice about spending on any major items. (Just ask the car dealers.)

(4) For every mortgagee sale you may see advertised, I estimate there are at least another 50 others who are under real pressure and are selling before the bank does it for them. This backlog has to be cleared away as well.

(5) Even if interest rates were slashed by the Reserve Bank, I doubt it would help. This approach has been tried in the USA and Japan with negligible results. Ask yourself: If interest rates were suddenly reduced to 6% would you rush out and buy everything in sight? I doubt it.

(6) Then we have the problem of inflation. Having lived through hyper-inflation in the 70s and 80s I know it can be both a curse and a blessing. Inflation erodes savings and makes money dearer to buy. On the other hand, it drives up prices — and property is the first to benefit. Inflation is the potential curve ball in the whole equation. All predictions can be thrown out should inflation become a serious issue once again.

The way forward
It is with these points in mind that I caution property owners and investors NOT to rush in right now just because prices may have a slipped a little.

But this is important: don’t stay in hibernation either.

What I DO encourage is that buyers start to learn and get a feel for the market. Go out and look at everything for sale — don’t necessarily buy anything. The current painful volatility is a relatively rare opportunity for you to observe a market in turmoil and to study the ugly side of capitalism.

Of course should a real bargain turn up (at say 20-25% below current market) then maybe a buyer should chance their arm… but how will someone ‘uneducated’ in property investment or unfamiliar with the market tell a bargain from a lemon? It’s time to get educated.

Advice for those under pressure to sell
(1) Deal with the problem early. Delay is your enemy.

(2) Go to your bank or mortgagee and explain the circumstances. As unpleasant as that may be, the alternative is worse.

(3) Usually the bank will give you up to three months ‘relief’ with no further payments required (capitalising the interest). Of course if you have left it late and already missed a a payment or two, you may not get this relief. Hence the need for early action.

(4) The bank does NOT want to take your house back and will do anything to prevent that. They would much prefer that you put the property on the market yourself, selling it in the ordinary manner for the best price achievable.

(5) Remember, if you are unfortunate enough to find yourself in a mortgagee sale situation you can actually pay the arrears right up to the fall of the hammer, if you find the funds, and keep your property.

(6) Suggest to the bank that they take an equity stake in your property. i.e. They become part owners in exchange for some of the debt. When times are better the property can be sold and the bank will get their share of any upside as well. This was done to good effect in the UK during the severe downturn in the market in the early 1990s.

Are the media to blame?
Some people are saying that a lot of the present troubles have been caused by the media and their sensational stories of gloom and doom. This is bunkum for at least two reasons.

The media only reports events as they happen — they do not invent them. The market is bigger and stronger than the media by far. There is no way the media can influence the market to such an extent that it creates a recession.

Besides, no-one was complaining about the influence of the media when property prices were rising at the rate of a “$1000 a week”. People seemed happy enough then.

In conclusion
The present market is a nightmare for some and can be a bonanza for others. With a good education on how to survive and prosper in a falling market and the ability to act in conjunction with proper advice from impartial sources, it is quite possible to take advantage of this falling market to steadily build up a portfolio of residential and/or commercial property — which can be a springboard to secure your future.

In the months and years ahead I am sure there will be many who will look back and say that they should have acted but have missed out again through inaction.
Make sure you are not one of them.

If you want good things to happen you must take action and the sooner the better.
The more action you take the more chance you have of getting ahead.
Become active.
Become educated.
And above all — never give up!

Olly Newland
25 August 2008
© 2008 Olly Newland. All rights reserved.

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Two Frogs
By: Author Unknown

A group of frogs were traveling through the woods, and two
of them fell into a deep pit. When the other frogs saw how
deep the pit was, they told the two frogs that they were as
good as dead. The two frogs ignored the comments and tried
to jump up out of the pit with all their might. The other
frogs kept telling them to stop, that they were as good as
dead. Finally, one of the frogs took heed to what the other
frogs were saying and gave up. He fell down and died.

The other frog continued to jump as hard as he could. Once
again, the crowd of frogs yelled at him to stop the pain and
just die. He jumped even harder and finally made it out.
When he got out, the other frogs said, “Did you not hear
us?” The frog explained to them that he was deaf. He thought
they were encouraging him the entire time.

Take care with how you talk to anyone who you come into
contact with. It is incredible the power a positive word can
have on someone, but in the same breath also amazing the
damage you can do with a negative word. Be one of those
special people who take the time to encourage. It will never
be forgotten.

Do you have a business that’s been profitable in at least 2 out of
the last 3 years?

What’s the secret to growing it?

If you’ve had a modicum of success in business, you probably know
what you should be doing but you don’t know how to create the
systems to maximize your leads, sales and profits.

Most business owners I talk to are sitting on huge untapped profits
and their biggest problem is not the lack of ideas but knowing
where to focus their marketing or how to systematically start
tapping all the money they could be making.

Where could you be making more?

Most seasoned business owners could be making more in at least
eight areas including:

- Generating more leads with their ads, mailings and websites,
Additional profit potential = 25-1,500%

- Converting more of these leads into eager prospects,
Additional profit potential = 30-80%

- Closing more sales,
Additional profit potential = 20-40%

- Increasing per customer profits with cross-selling and up-selling,
Additional profit potential = 12-40%

- Getting more repeat sales,
Additional profit potential = 14%

- Retaining more customers and profits,
Additional profit potential = 10%

- Getting more referrals,
Additional profit potential = 18%

- Making better use of sales partners.
Additional profit potential = 50-500%

How much more could you be making by establishing profit making
systems for each of the above?

A minimum of over 179%!

What’s 179% more than you made last year? Since I don’t know what
you made I don’t know the answer, but I’ll bet you it’s enough to
pay for that renovation you’ve had planned or that new car you want.

Even if you only made improvements in half of the areas mentioned
above you could still easily increase your profits by 90% this year.

Now that you know where to focus your efforts to increase your
profits, what are you going to do about it?

FYI, I’ve only got two openings for my one-on-one Astronauts
mentoring program and after I finish interviewing applicants this
week and next, I’ll make my choice and the spots will be gone.

Interested?

http://www.mymillionairecoach.com/astronauts.shtml

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