Lesson for marketing your note business
How to create urgency to sell in the noteholder
Note ownership is a complex business rife with benefits, but filled with risks and unforeseen problems– especially for the uninitiated. Complex financial instruments should not be owned and controlled by novices.
There are several reasons most amateur note holders do not sell. Even if they need to liquidate their asset, they do not want to take a discount. They are getting a better return than they can elsewhere. They have either become comfortable with their investment or have a diminished sense of urgency. To create a renewed sense of urgency, you must educate the note holder.
An educated note holder is much more likely to sell. A common mistake made by neophyte note brokers is to try and create urgency using only letters, flyers, posts or other messages, etc. This is not possible and will only lead to your early “retirement” from the note business. The successful marketing of your note business must take place over a certain time period.
The resource that has been most successful for me to help create urgency is called a Note Owner’s Manual. A Note Owner’s Manual that is written, designed and used properly can make all the difference in your cash flow business. I stress “written, designed and used properly”. Like all other marketing resources, if your Note Owner’s Manual is structured improperly, it will be both ineffective and expensive. Your Owner’s Manual must be designed to create urgency. Learn more
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