Skip to main content

FTC revises final rule, regarding purging Do-Not-Call List

National Mortgage Professional
Sep 28, 2005

Increase your commercial business by increasing your sphere of influenceHoward CherninIncrease mortgage sales How many people do you know? Probably more than you think. If you started to list your business associates, accountants, lawyers, insurance brokers, friends, relatives, your mail carrier, whoever cuts your hair, your children's teachers, your veterinarian, your next door neighbor, and everyone else you encounter on a day-to-day basis, how many names would you come up with? One very successful businessman, Joe Girard, calculated that the average number for most people was 250. Girard was one of the top car salespeople of all time, earning himself a place in the Guinness Book of World Records for selling more cars than anyone else in the world in one year. As for the secret of his success, it was no secret. Girard laid it out clearly in a book he wrote, titled "How to Sell Anything to Anybody." The principle, which he called "Girard's Law of 250," was that every individual has what he called a "personal sphere of influence" of approximately 250 people. He pointed out that every one of those individuals also knows 250 people, meaning that once you get to know that person and he or she becomes part of your network, you're also gaining access to the 250 people in that person's network. A simple truth about human nature is that people prefer to do business with someone who they know and trust. Don't you regularly use the same accountant, mechanic and dentist? The same concept holds true for every aspect of business. The people who know and like you--who comprise your personal sphere of influence--form a network that represents your business' strongest base of potential customers. Not only are the people in your network potential customers, once they've become satisfied customers, they're likely to pass along a good word to the members of their sphere of influence. After all, when you need a new service, aren't you inclined to go with someone recommended by a friend or associate? This means that the 250 people they each know will all become your potential customers as well. Of course, there's no need to limit your sphere of influence to 250 people. We all meet new people every day at work, at social events, while waiting in line at a store or even while commuting to work. Carry a notebook so that you can record the names and contact information of new people who join your sphere of influence. You'll be amazed at how quickly it grows. You'll also be surprised at how many new business opportunities arise out of cultivating your existing (and ever-growing!) referral group. Once you've started building a business relationship with members of your sphere of influence, it is critical to provide the highest possible level of service. Otherwise, you could lose their business along with any potential customers they might have provided. It is important to be consistent, since this is the best way to build a strong reputation. To build your business, you don't have to look very far. Given the 250 people in your sphere of influence, new business opportunities are all around you. After all, it isn't just who you know or even what you know; it's who likes and trusts you and knows what you can do for them that's the key to building your business. Howard Chernin is senior vice president of Quantum Corporate Funding Ltd. He may be reached by phone at (800) 352-2535 or e-mail [email protected]
Sep 28, 2005
‘Massive’ Increase In Credit Report Cost Coming In 2023

NCRA says a 'vast majority' of mortgage lenders will incur price increases ranging from 10% to 400%.

Industry News
Nov 28, 2022
Homepoint Offering $500 Credit To Borrowers For Appraisals

Savings intended to help ‘on-the-fence’ homebuyers feel more comfortable buying a home.

Industry News
Nov 28, 2022
Creativity Found In The Oddest Place

Flagstar’s MortgageTech Accelerator program has its roots in Major League Baseball

Industry News
Nov 21, 2022
UWM Expands Temporary Rate Buydown Offerings

In a rising rate environment, this temporary rate buydown will be an attractive option for borrowers.

Industry News
Nov 16, 2022
Down Payment Assistance Facilitator Arrive Home Launched

Social enterprise

Industry News
Nov 15, 2022
FundMore, VeriFast Team To Expand Digital Verification

Announced a partnership that seeks to secure and verify digital mortgage transactions.

Nov 14, 2022