Active listening is an Art

Over the years , I have attended countless meetings ...... and I so often don’t implement  the secret that I know makes for a successful meeting - and that is 

To Listen

Below are 3 key strategies - that I am going to make an active point of improving.......

1. Give people time to reply 

I am guilty of starting a conversation and putting a thought or question out there, and instead  of giving the other individual time to formulate a response, i immediately re-phrase the question or remark and answer it! 

I tend to hi-jack a conversation and realise that I spoke too soon and cut off the other person’s response. 

2. Listen to understand 

We often don’t hear, or worse, understand what the other person  says because I am so busy formulating our response  to what I assume they will say. 

I want to be perceived as quick witted and always prepared with a snappy comeback to any question or comment.  

The problem with this is that I missing so much vital information, because I am not actively listening to what the other human is saying 

3. Listen with intent and notice verbal and non verbal cues

Hear every word, pick up on each nuance, and watch their non-verbal body language. 

For example 

When a person is excited to share information, or tell you a very key point, they intuitively lean forward as if to say, “don’t miss this next point because it is very important”. 

Whether they raise or lower the volume and the tone they use - watch for non-verbal hints.

Hear what your client tells you, and how many times and ways they tell you the same thing. Listen to what they need and frame your response on how you can help them .

 

This is a tip that my mentor Allen Pathmarajah shared with me - (that works really well when I use this strategy)

Count to ten before responding 

It will seem like an eternity, but be smart and give the person with whom you are communicating the time to acknowledge your comment or statement. 

It expand the opportunities for communication, and gives you time to hear and take notice of what they are trying to say and how they are feeling 

Listening builds respect and credibility

And by the way , Listen and Silent have the same letters 

Standards of Life vs Standards of Living

A great video 

Never compromise the principles that will effect the standard of your life 

Wealth is not about money, 

Whether you drive a Bentley vs vw

Whether you fly Back vs ec class

Whether you Wear Lead vs wrangler

Whether you have a Timex vs Rolex 

Or whether you live in Parramatta vs Rose bay 

It’s about relationships

It’s about those Deep strong heartfelt bindings of love between people 

If you are shedding a tear - who is there for you?

If all you have is money you are poor!!

If you have strong values - and deep relationships - no matter how Much  or little money you have you are rich and successful 

Fractional property investment - BBG mastermind lunch - 13/06/2018

Written by:

Tony Jacobson

CEO – Avant-garde International Consulting Group- Australia's Authority on Business Model Reinvention

 

Presenters 

Hosted by: Ivan Kaye –  Co- founder BBG

Chris Grey FCCA – Founder and CEO of Your Empire

Daniel Noble – Founder and CEO of CoVesta

 

As someone who attends many conferences, presentations, networking groups and training seminars, I would say it takes something special to blow me away. 

The presentation delivered by Chris and Daniel did just that. The topic was Fractional property investment.

In the words of Bruce Lee “simplicity is the key to brilliance” 

 

Fractional investment is not a new idea. One can purchase a boat in a syndicate! 

 Have a look at the financials behind this common-sense approach of buying a boat in a syndicate 

or 

buying shares in a publicly listed company is the perfect example of fractional investment. 

The traditional Aussie dream of owning your own home has quite simply become a nightmare, and it is becoming increasingly difficult for people to “get in to the property market.” 

The Australian property market has been crying out for the right formula and in my opinion Daniel and Covesta have smashed this one out of the park. 

 

CoVesta has launched a concept whereby an individual has the ability to buy a share in a property. 

For example :- A property purchased for $1 million is “housed” in a trust with 100 units of $10.000 and the trust buys the house with investments it receives. 

The rationale being if you had $100,000 to invest would you rather buy a small unit in a mining town which may not exist in 3 years from now if the mine shuts down or would you rather use that $100,000 investment to purchase a share in a beautiful property in Bondi with the knowledge it will be fully tenanted and, best of all, fully maintained with zero involvement in the day to day management of the property. 

The advantages of Fractional property investment are as follows:

1. It enables you to purchase property in PRIME locations

2. It enables you to purchase better properties

3. High level of diversification. Remember the saying “don’t put all your eggs in one basket”? need I say more?

4. More consistent growth and yield

5. Completely outsourced

6. Professionally chosen and negotiated on your behalf

7. Ability to get into and out of the market quicker

 

The disadvantages of Fractional property investment are as follows:

1. Not in 100% control

2. Less leverage

3. Slightly higher fees

4. Risk in dealing with 3rd parties

 

Fractional property investment is worth considering if:

1. You prefer blue chip rather than interstate or regional

2. You have a limited deposit

3. Limited serviceability

4. You don’t want a mortgage

5. You are a non-resident

6. You run a self-managed super fund and prefer property investment over shares

 

Home ownership is becoming almost impossible and there is a universal decrease in home ownership. 75% of property owners are over 45. The biggest decline in home ownership is in the 25 – 44-year-old age bracket and the sharpest recent decline has been in the 45 – 55-year-old age bracket. Much of this can be attributed to the high cost of living.

 

Property prices are expensive!

1. Residential property is a 7 trillion-dollar market

2. 3 x bigger than the ASX

3. 6 x bigger than superannuation

4. Since 1996 the market has grown by over 150%

5. It has outperformed the domestic and global stock market returns

6. Sydney is ranked the 2nd most expensive property market in the world.

7. In Sydney the average house is 13.7 times the average salary and the average unit is 8.7 times the average salary.

 

For the last decade a home owner has been required to save a 20% deposit in order to purchase a property. Due to the extremely high cost of living this is almost impossible. 

This has resulted in what’s known as a failure to launch: No deposit therefore can’t purchase a property = less people buying = less supply = increased rental demand = higher rental rates = higher cost of living = reduced savings capacity and so the cycle continues.

 

This is the pain that CoVesta is looking to solve. 

Covesta find suitable properties and each one is divided into 100 units. You  are able to buy as many units in as many properties as your budget allows, this enables you to generate rental income and capital returns. 

After 5 years the syndicate votes on whether to hold or sell with a 75% majority required. 

So, the bottom line:- choose your investment then sit back and relax while its all managed on your behalf. 

As a property investor, it’s not about when you buy, it’s about how long you can hold to be able to sell at the right time. 

And just when you thought it could not get any better, if you run a self-managed super fund you can use your super to invest in fractional properties. 

In my opinion, a far less scary option than trying to manage your own share portfolio. This may very well be the key to building the property empire you have always dreamed of.

Thank you BBG

 

Once again BBG’s Chairman Ivan Kaye has shown what it truly means to deliver value to your customers. My father always taught me to under promise and over deliver and that is exactly what BBG does. 

BBG is a networking group with the idea that if you know, like and trust someone you will refer business to them. Members are not there to “flog” our goods and services to each other .... we are there to see how we can assist our fellow members grow through Collaboration and Learning.

There are no targets with regard to generating referrals and no pressure either. Just think of it this way, a plumber is parked in your street 364 days of a year. On day 365 he leaves and that’s the day your pipes burst! 

Business, more often than not, is about timing and if you give to the organisation, when the time is right you will get it back tenfold. 

In addition to this model of collaboration we are regularly exposed to people like Chris Grey and Daniel Noble. If you are interested in expanding your business network with high level, like minded executives look no further than The Business Builders Group. https://www.bbg.business

Fractional property investment - BBG mastermind lunch - 13/06/2018

Written by:

Tony Jacobson

CEO – Avant-garde International Consulting Group- Australia's Authority on Business Model Reinvention

 

Presenters 

Chris Grey FCCA – Founder and CEO of Your Empire

• Host of Smart Investing – Sky News Business

• Best-selling Author – The Effortlessness Empire 

• Judge on “The Renovators” – Channel 10

• Real estate expert – “My home TV” – Channel 9

• Buyers agent, renovator & professional investor 

 

Daniel Noble – Founder and CEO of CoVesta

• Serial Entrepreneur - With startups  in Asia, the USA and Australia 

• Co-founder of Noble Lakeside Australia 

• CEO and founder of Drive MyCar

 

Hosted by: Ivan Kaye – Chairman of BSI and BBG (Business Builders Group)

 

 

As someone who attends many conferences, presentations, networking groups and training seminars, I would say it takes something special to blow me away. 

The presentation delivered by Chris and Daniel did just that. The topic was Fractional property investment with a buyer’s agent. 

In the words of Bruce Lee “simplicity is the key to brilliance” 

 

Fractional investment is not a new idea. One can purchase a boat in a syndicate! 

 Have a look at the financials behind this common-sense approach of buying a boat in a syndicate 

or 

buying shares in a publicly listed company is the perfect example of fractional investment. 

The traditional Aussie dream of owning your own home has quite simply become a nightmare, and it is becoming increasingly difficult for people to “get in to the property market.” 

The Australian property market has been crying out for the right formula and in my opinion Daniel and Covesta have smashed this one out of the park. 

 

CoVesta has launched a concept whereby an individual has the ability to buy a share in a property. 

For example :- A property purchased for $1 million is “housed” in a trust with 100 units of $10.000 and the trust buys the house with investments it receives. 

The rationale being if you had $100,000 to invest would you rather buy a small unit in a mining town which may not exist in 3 years from now if the mine shuts down or would you rather use that $100,000 investment to purchase a share in a beautiful property in Bondi with the knowledge it will be fully tenanted and, best of all, fully maintained with zero involvement in the day to day management of the property. 

The advantages of Fractional property investment are as follows:

1. It enables you to purchase property in PRIME locations

2. It enables you to purchase better properties

3. High level of diversification. Remember the saying “don’t put all your eggs in one basket”? need I say more?

4. More consistent growth and yield

5. Completely outsourced

6. Professionally chosen and negotiated on your behalf

7. Ability to get into and out of the market quicker

 

The disadvantages of Fractional property investment are as follows:

1. Not in 100% control

2. Less leverage

3. Slightly higher fees

4. Risk in dealing with 3rd parties

 

Fractional property investment is worth considering if:

1. You prefer blue chip rather than interstate or regional

2. You have a limited deposit

3. Limited serviceability

4. You don’t want a mortgage

5. You are a non-resident

6. You run a self-managed super fund and prefer property investment over shares

 

Home ownership is becoming almost impossible and there is a universal decrease in home ownership. 75% of property owners are over 45. The biggest decline in home ownership is in the 25 – 44-year-old age bracket and the sharpest recent decline has been in the 45 – 55-year-old age bracket. Much of this can be attributed to the high cost of living.

 

Property prices are expensive!

1. Residential property is a 7 trillion-dollar market

2. 3 x bigger than the ASX

3. 6 x bigger than superannuation

4. Since 1996 the market has grown by over 150%

5. It has outperformed the domestic and global stock market returns

6. Sydney is ranked the 2nd most expensive property market in the world.

7. In Sydney the average house is 13.7 times the average salary and the average unit is 8.7 times the average salary.

 

For the last decade a home owner has been required to save a 20% deposit in order to purchase a property. Due to the extremely high cost of living this is almost impossible. 

This has resulted in what’s known as a failure to launch: No deposit therefore can’t purchase a property = less people buying = less supply = increased rental demand = higher rental rates = higher cost of living = reduced savings capacity and so the cycle continues.

 

This is the pain that CoVesta is looking to solve. 

They find suitable properties and each one is divided into 100 units, you are able to buy as many units in as many properties as your budget allows, this enables you to generate rental income and capital returns. 

After 5 years the syndicate votes on whether to hold or sell with a 75% majority required. 

So, the bottom line, choose your investment then sit back and relax while its all managed on your behalf. 

As a property investor, it’s not about when you buy, it’s about how long you can hold to be able to sell at the right time. 

And just when you thought it could not get any better, if you run a self-managed super fund you can use your super to invest in fractional properties. 

In my opinion, a far less scary option than trying to manage your own share portfolio. This may very well be the key to building the property empire you have always dreamed of.

Thank you BBG

 

Once again BBG’s Chairman Ivan Kaye has shown what it truly means to deliver value to your customers. My father always taught me to under promise and over deliver and that is exactly what BBG does. 

BBG is a networking group with the idea that if you know, like and trust someone you will refer business to them. Members are not there to “flog” our goods and services to each other .... we are there to see how we can assist our fellow members grow through Collaboration and Learning.

There are no targets with regard to generating referrals and no pressure either. Just think of it this way, a plumber is parked in your street 364 days of a year. On day 365 he leaves and that’s the day your pipes burst! 

Business, more often than not, is about timing and if you give to the organisation, when the time is right you will get it back tenfold. 

In addition to this model of collaboration we are regularly exposed to people like Chris Grey and Daniel Noble. If you are interested in expanding your business network with high level, like minded executives look no further than The Business Builders Group. https://www.bbg.business

 

Digital Marketing Insights at BBG Eastern Suburbs”knowledge share” with Marc Ennis

Marc Enners - A digital marketing guru from Agent 6 gave a brilliant “bbg knowledge share” at our Eastern Suburbs forum last week .

When Google first started,  a Google guy showed Marc what digital marketing could do - and predicted that half of the Adscene would go through google .... did he call it or what!!

Marc focuses on helping clients develop strategies and building blocks on how to get into googles brain. 

It’s an outsourced world - and he works with a whole bunch of people around the world to help his clients who are in a range of industries and professions 

Seo is the free bit 

google makes information from the world accessible freely using organic search - Google rewards you for writing and sharing great content. There are a bunch of strategies to “optimise your company being searched “SEO””

SEM - is paid ads

This where google makes its money! 

The increasing use of mobile is making SEO disappear - as only SEM is appearing! You “pay per word” or “pay per click” using “AdWords”.... and you pay! 

Google has become “a money sucking machine” - you want to be on google on mobile - you pay! 

The key is to know your numbers, and work out your ROI.

The secret is not to worry how much you spend, but how much revenue you can generate from those campaigns.

The beauty about the campaigns is that they can be targeted, specific and measurable. You can work out exactly what campaigns work and what doesn’t ! 

Some AdWords can get very expensive - for example “life insurance” and “mortgages” are auctioned for $100 per click - highly competitive .

The larger companies will spend bucketloads with key AdWords that will drown you ..... but you can beat them by being very niche and specific and “have a long tail” up to “8 word phrase”- so when people search something specific - your search comes first. 

Marc shared with us how when he was working with Webjet (which was a start up with limited funding at the time ) they were beating Flightcentre at every turn. 

As a small travel agent - you can’t compete against a webjet or flight centre - but you 

can go niche - there are specific opportunities. You need to find those little niches.

Digital Marketing is Like Poker - where you squeeze people out!!

SMM - Social Media marketing

Facebook advertising is the bomb! 

Facebook is free - because “we are the product” We’ve given up our privacy through - terms and conditions - we’ve give up our contacts and Privacy is gone - 

Facebook ads are very powerful and very easy to create. 

You can granualise your ad and be very specific! 

Eg - target people in Woollahra 50-55 , earning 50-80k per annum and have one leg “ - Facebook will find those people and share your ad through triangulating big data.

Facebook may have a problem (Cambridge Analytica) with privacy issues but they have a pile of money - and can acquire or buy themselves out of problems.

EDM - Email Marketing 

 Is highly profitable compared to others - and you are marketing to customers and lists you already have 

Your Roi can potentially be  $40-1 or higher! 

 Your Website 

A key start in your digital marketing strategy is to build a great website that 

• Is Search Engine optimised, 
• Has local content
• Has clean code
• Site speed fast and responsive - on a local server 
• Https 
• You need to have great landing pages which have specific call to actions.

Your website needs to have “remarketing” widgets working

Other Gems gleaned from the knowledge share 

• LinkedIn’s Machine learning is being built by Microsoft 
• Facebook and google - target exactly 
• Messaging is key - the way you put your message out 
• Organic traffic hard 
• Bot to burn competitions budget - google have ways to pick up false advertising 
• Be the long tail - longer and more specific search queries - 8 word queries Eg Cheap flights for rosebay - think local and think longer 
• Build website - on your blog and pages - answer questions that are local issues 
• Get your architecture and indexing right . If you are in Insurance and risk - define your industries on your site at the top 
• Google reads left to right and top to bottom 
• Indexing your site is key 

1. Insurance and risk
2. Industry
3. Organise information architecture

• Put your details on all pages and ensure you have privacy policies on your website 
• Competitors doing bad reviews - can be an issue 
• Make it load fast 
• People who are pissed off with you and Assasinate your reputation - respond - call person in and fix the problem. Turn the lemon into lemonade!! Outstanding Customer service  is key (Virgin’s Richard Branson is brilliant at this) 
• No spelling mistakes 
• Make sure your website is bolted down and secure 

Know the jargon 

In summary 

• Know your niche 
• Use the Long tail
• Build your list and Emarket
• Use all 4 mediums 
• Fast and Current Will beat old and lazy every day of the week 

The workers who will be the winners of the future

Guy Claxton - visiting professor from Kings College London - 

“Current schools making our kids dumber. We were born to be doers and makers. Real world intelligence is what we need and Intelligence is in the Flesh: Why Your Mind Needs Your Body Much More Than it Thinks. 

The most successful workers in the future won't necessarily be the most educated or even the most skilled; it will be the workers who have been able to adapt best in a rapidly changing world. #EduTECHAU

(Ivan Kaye :- I think it’s the worker that has the right attitude and mindset!) 

Musings!!

What is one thing life has taught you that would have saved you a lot of hassle to have known at  18?

Best comment wins a prize!