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
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Sep 11, 2023
If You Build It, They Will Come

Ratings will go a long way toward growing the market for home equity-backed securities

Sep 07, 2023
Investors May Be Losing Interest In The Single-Family Rental Market

Rise in interest rates, drop in values have them pulling back in certain regions

Sep 07, 2023