Tag Archives: debt relief

How is Your X Factor?

debt relief, credit card repair,debt consolidation loansDo You Know Your X Factor?

Put your X Factor to Work on your Credit Repair, Debt Consolidation or Small Business Lines of Credit


I recently read Grant Cardone’s New York Times best seller “The 10X Rule”.

Once you read this must read book for everyone in general (because it applies to all aspects of life) but also to any:debt consolidation, credit counselor, line of credit

  • business person
  • start up entrepreneur
  • real estate investor
  • anyone in a sales related field

Then you can’t help to start thinking of your X factor but also the X factor of other business people that you in-counter through out the course of your business day.

The main concept of “The 10X Rule” is that to be extraordinarily successful in life or in business you need to hustle above and beyond that effort of the “average” or ordinary output of most people or businesses.

If you only put in an “average” effort your results are going to be, well average. Duh!

This has been proven over and over again by top athletes and top business leaders. If you want to get to the top you need to work not just a little harder then the “average”, but a lot harder than the average person or business.

So the premise is that if the average is working at “1X” then you need to be working at “10X”

But is the “average” really even working at 1X?

Well, let’s define 1X.

I would say that 1X is someone (in business, their job, or in life) that does everything that is required of them in a professional manner at the most basic minimum.

This would include:

  • the ability to speak and communicate in a clear, positive effective way. (A little rapport would be nice)
  • to dress and be groomed in a professional presentable manner.
  • to have just the most basic minimum level of sales mindset like a smile and “How Can I help you Today?” attitude.

In meeting with various “professional” business people in the course of my daily meetings I find it shocking that many so called “professionals” barely make it to 1x and more often are only operating at around .6x.

In terms of my business, I am only concerned with myself and my actions as those are the only things that I can control.

Plus I recognize that our goals my be different.

I am a self motivated, self employed entrepreneur that wants to excel and perform at my highest of God given ability.

While most employed people with a job (just over broke) just want to show up, put in their time and do as little as possible to get through the day.

(Nothing wrong with that if that is your thing.)

So let me provide some examples of my unofficial 10x survey of my little business community.


business loan, business credit,Case Study #1. The Banker

I went into a small regional bank (not one of the majors) to see if I could get a home equity line of credit on a 5 family apartment building that I own and have substantial equity in.

First off let me say that the retail banking business model is dying.

This big beautiful bank lobby had about ten empty desks with one person sitting at one of the desks. (That’s a story for another day.)

Her title was “Customer Relations”.

I had to approach her. She did not utter those golden words “Can I help You?” Mind you that I was the only customer in the bank.

Even better yet would be “How Can We Find a Way to Re-finance Your House Today?”

So I sat down and told her that I was looking for a home equity line of credit on my five family apartment building.

There was no smile, no rapport, only a sense of dread on her part that she might have to do some work.

I wanted to reach out and touch her just to see if she had a pulse.

Since she refused to talk I started to ask some probing questions:

  • How long have your worked here at the bank? Four years she replied.
  • How long have you been in the banking business? Twenty years she said.

She went on to attempt to fill out the one page information sheet that she would send in to the home office. She did not know how to fill it out so she called over her supervisor.

Her supervisor was the bank’s “mortgage lady”.

She was slightly a little warmer but improperly dressed in casual clothes with wet, stringy unattractive hair.

(Sorry ladies if I am projecting my male chauvinism, but if you look like a slob, then you probably are a slob, regardless of your gender.)

The “Supervisor” helped the “Customer Relations” person fill out the paperwork and claimed to have sent it in the the underwriting department at the home office.

A week later I have yet to here from anyone from the bank.

Summary – the home equity line of credit clearly states right on the application that it only applies to 1-4 units (residential), not 5 units or commercial properties.

This is something that both “professional” mortgage specialists should have known.

  1. It states that right on the form.
  2.  Is this the first time in a 40 year career that she had filled out a home equity line of credit application? Gosh… do you think she needs more training?

10X Rating – these people are not even working at a 1x level but instead are just taking up space, doing as little as possible and collecting their check each week.

(Again, nothing wrong with that, if that is your thing.)

It is one thing to be poorly trained or miss-informed, but another thing to be in walking coma without any intellectual curiosity for self improvement.

Sadly these banking “professionals” are only operating at a  “.6X”

X factor, business winning, business loansCase Study #2 – Let’s Try the Realtor “A Sales Professional”

I was speaking to a top area realtor the other day and she was complaining about the lack of inventory on the market.

No inventory meant that she had nothing to sell.

I casually mentioned that I was thinking about selling one of my large multi-family apartment buildings.

She immediately said “Oh please send me the info”.

So the next day I sent her the spread sheet, photos, info etc.

She responded by e mailing me “when can I see it?”

Sorry – when I am looking for a salesperson to sell one of my properties, in which they would receive a very large commission they need to be a lot more aggressive about selling than just sending out an e mail.

Pick up the DAMN phone and call!!!

  • most sales are made on the 6th or 7th phone call.
  • most sales people (around 80%) never make the 2nd sales call.

This “professional sales person” could not even bring herself to reach out and make the first sales call even when presented with a “HOT” lead.

Why would I ever want this sales person working for me?

If the sales person is too lazy to pick up the phone to call me and nail down an opportunity to collect a large commission…

why would I think that they would pick up the phone to call buyers to buy my property?

I never e mailed or called her back and the realtor lost a very large potential commission because she was too lazy to reach out, communicate, determine MY NEEDS.

A week later and I have still not heard from the realtor.

This realtor is operating at “.6X” and sadly most other realtors are too.

debt consolidation,credit repair specialistCase Study #3 – The Accounting Firm (typical small business)

I often work with accounting firms to provide a value add service to their clients.

I can either offer a debt, credit card consolidation or small business loans and lines of credit to their clients.

So I called up a local accounting service in our small town and mentioned that I would like to come by to pick up a business card.

( A back door way to maybe get in to speak to someone.)

When I stopped by around 3:00 p.m in the afternoon, no one was working but instead I interrupted their mid day gaggle fest.

Two secretaries sitting around “yacking” it up with who I presumed to be one of the accountants.

As I walked in I asked “May I have one of your business cards?”

They kindly handed me a card and I walked out.

None of the three people asked, since I was getting a business card, “Can we help you with any of your bookkeeping or accounting needs?”

A lost opportunity for a new client.

Once again I would grade this accounting business a “.6x”.

In fairness, the secretaries are not really trained sales people, But they should be!

Every employee from the office workers to the Home Depot “Greeting Lady” should have customer service and sales as their top priority.

Anyone who walks through your door is a potential customer and also a potential word of mouth marketing director.  “Oh, Please tell your friends about our services.”

Only 2% of the population know how to sell.

Oddly enough, many people have a fear of selling. (They fear or can’t take rejection.)

Just about everything we do, from taking a shower in the morning and making our selves presentable to the world is a form of selling.

Learn to embrace it!

Determine your X Factor. Are you even operating at a 1X or are you somewhere below even the “average” threshold?

Ratchet up your game.

With so many of the “average” population going through life in a walking coma, it is not that hard to excel, dominate your niche, and crush your competition. (Think Jeff Bezos at Amazon.)

Play the game of life to WIN at whatever level of your God given abilities.

debt consulting, real estate loan, small business line of credit

Disclosure: We are a professional review site that receives compensation from the companies whose products we review. We review each product or service thoroughly and give high marks to only the very best companies. We are independently owned and the opinions expressed here are our own.




Financial Freedom

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debt free, credit report,

Repairing your Credit and becoming Debt Free is your Road to Financial Freedom!

Here are some select quotes that have withstood the test of time –

“Never spend your money before you have earned it.”  Thomas Jefferson
“An investment in knowledge pays the best interest.”   Benjamin Franklin
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like”.  Will Rogers
Financial freedom is to be able to what you want, when you want, without being limited by money concerns.
Achieving financial freedom may not be as difficult as you think.
We have all heard stories of the school teacher, janitor, etc ( insert low paying job of your choice) who have lived within their means and saved all of the money they made only to give away a surprisingly large donation to charity upon their death.
With some careful planning, setting financial goals, cutting unnecessary expenses staying frugal and focused, just about anyone can do it.
Start with the long term plan:
Figure out you finances, income and expenses and where you are at both in your finances and in your life.
Obviously the longer your time horizon the more you will be able to save over time.
Understand how much you are spending each month and how much income you are producing to cover those expenses each month.
Determine what your financial goals are – both short and long term. Once you have your goals set, the target that you will be shooting at, you can then create your plan.
How do you eat an elephant you ask? One bite at a time.
Chunk down your plan. One step at a time. Write down your goals, numbered in order of importance.
Pay yourself first! Just like tithing at your church, tithe yourself 10 to 15% of you monthly income directly into a savings plan. You will be surprised at how quickly it can add up.
Here’s what the  hierarchy of the path to financial success would look like if you put it in a pyramid form –
#1. Surviving stage –  This is where you have to start getting your head in the game. Look around at where you are at in life and start thinking about money correctly. This is the  stage, where you need to  start living below your means, watching your expenses and keeping your expenses, what you spend, less than your monthly income.
#2. Eliminating Debts – This is where you need to start cutting down and eliminating your “bad debts” like credit cards so that you can start to make some real progress on your journey.
#3. Financial Literacy – This is where you start to wise up about buying things that you don’t need on a high interest credit card but instead start putting moneys aside in a rainy day fund for emergencies and unforeseen expenses.
#4. Investing –  Congratulations, now that you have achieved some level of financial literacy this is where you turbo charge your savings and start your retirement planning. Maximizing your 401K or IRA accounts, passive investing in stock index funds, bonds etc. to start collecting interest instead of paying interest.
#5. Tax Planning – Wow! Look how far you have come. Now that you have eliminated the urge to “buy now” with those high interest credit cards, and you have learned to save money and then invest it wisely it is time meet with your tax advisor / account and or financial planner to to see how you can minimize your taxes.  It is also time to create a will, review insurance needs, and create a system to monitor your monies.
#6. Financial Freedom – At this stage you have sound investments compounding your monies, possibly passive incomes from real estate or stock dividends that exceeds your expenses. Congratulations – you have made the journey!
While this pyramid is not perfect and we will all encounter obstacles in our paths as we make the journey, it can be used as a guide or a helpful template to give some thought to as you make your financial decisions along all stages of life’s beautiful journey.
Remember, as Ralph Waldo Emerson once said ” Life is a journey, not a destination”.  May you enjoy every step along the way!
Disclosure: We are a professional review site that receives compensation from the companies whose products we review. We review each product or service thoroughly and give high marks to only the very best companies. We are independently owned and the opinions expressed here are our own.