ever wonder???

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Posted by ben on September 30, 2002 at 23:37:11:

Ever wonder why some people starting the note business starts out great and have notes coming to them.. whereas others are struggling? Can it be
just due to luck? or due to skills?

This is an interesting thought since if you read the book "Fooled by Randomness" in which he states that bill gates can be just one of those fools who happen to hit it BIG because he was at the right time, right place, and have the right people whereas steve jobs who is also pretty smart, ended up getting ousted in the past from his own company, the Apple Computer Corp.
Another example is that some idiot happen to hit it big during the dotcom boom in the market and thinks he can trade better than anyone. (so does any idiot since whateveryou buy goes up most of the time)

So it comes down to this question...
is it because some people who got into this mortgage note business happen to meet the right people..(real estate agents or motivated note sellers, which seems to be random selection on a list of big note holders in a county court house) and ended up finding notes and buying them effortlessly (even without good marketing) or is it truly because of their true marketing and 'sales' skills?

Or is it if you stay in the business long enough
and persevere to find them, eventually you will get notes coming to you.. but can this be a result of YOUR own work and skills OR just plain luck in that notes will eventually come since you are in the business long enough? Get what I'm saying???

I mean (perfect example will be the one where i recall John Bechle say some guys had used 60,000 bucks to do mail marketing and earned one 1000 buck)..Is this result mainly due to his bad luck or just not good of a sales or marketing skills..
I'm sure if we have a sample of huge numbers.. with 1 million people spending 60,000 bucks on mail marketing, eventually one of them will break even or earn profit in this mortgage note business simply due to the mathematical nature of randomness. But can this be said that this successful guy has better marketing and sale skills than the other not as successful ones???

This same 'luck' thinking or theory can apply to small businesses which have started in the US.. 9 out of 10 business failed.. but why is it?? is it because of luck or just incompetence and no business plan?? I'm sure maybe bill gates had just gotten VERY lucky.

I mean is there any consistenty in the success of a businesss if they have a business plan versus one that doesnt"??? I know a few businesses that never had a plan.. and still survive where as some that does, failed... Charles wang of computer associate NEVER wrote a business plan from what I heard, yet so successful?? why??

This actually makes me think that life is similar to just a ROLL OF A DIE ..randomness.. but with constant event happening..
opportunity, downsizing, opportunity, big deal,small deal, taxes, doodads(similar to CASHFLOW 101 game that was invented from Rob Kiyosaki) But one thing that is constant and is missing in the game is the death method..

Never know.. we all are playing a game
of russian roulette.. but with thousands of chambers as oppose to 6. But some people are just LUCKIER to have 1 million chamber and 1 bullet whereas one other has only 100 and 1 bullet...

Equally said, you are luckier to have 1 million chamber, 1 bullet, but thousands of opportunites or great chances but only a few hundred minor bad ones,
than someone who has 1 million chamber, 3 bullets
hundreds of good opp, but thousands of bad ones)...

why did some stay alive even when inside the building of WTC 1 during the collaspe whereas other not as fortunate on 9/11/01?? (sympathy to the family of the victims)

you can say fate determines that..
(btw, I'm not religious at all..i'm agnostic)

Can it be determine by fate where luck lies???
Is it true as Benjamin Franklin quotes:
"luck is when preparation meets opportunity"

SOMETHING TO THINK ABOUT HERE...
IN LIFE, IN BUSINESS, IN GENERAL

And also all this talking comes down to one main
question regarding to the note business :
Is there any note finding method that is found to be consistent in helping a new note broker who is starting out to find notes and succeed in the business.

I mean if there is a method.. does it have a statistical history of probability that is will ENHANCE the chance of survival for ANY note broker who is starting out..

I mean this method is sorta similar to a
franchise method in which the probability of success for a franchise business is 75% to 80% as oppose to the mere 20% success chance of a traditional (nonfranchise) business. Why is that?
why is the franchise SO successful relative to other biz??? BECAUSE OF A SYSTEMATIC METHOD!!!.
(not because of just pure luck.. but good or bad luck still play a role here.. else it will be 100% success for the business of franchising instead of 80% if the system is that sound)
(btw, read the E-Myth by Michael Gerber)

So what is that 75% success method in the note business? Realtor agent referrals??? Even that has to do with luck, don't you agree, anyone?? John Bechle? =)

Interesting thought isn't it

Please let me know..
I started in the business and haven't find any note sellers.. I simply use referrals from attorney and title companies but so far NO referrals still..

Is this because of the luck or my skill in marketing?

(btw, excuse me for my grammatical errors and misspellings.. I'm typing this off the top of my head and on the fly)

Thanks for your time in reading this long
thoughtful message

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