Know What’s New

What to DO to GET Referrals
Arrow: FeedForward Cards | Know What’s New
Conversation lead by the: Peachtree Corners Team

  and New information is the requirement for word-of-mouth.

Because we’re familiar with our own business what is new to Team Members can be a surprise.

Share a comment from the back of a FeedForward card that surprised you, because you really thought everyone knew that.

What system did you put in place to be sure prospects get that information?

Add your answer in comments, here or from the PowerCore.net home page.

21 Responses to Know What’s New
  1. Michael O'Neill
    August 21, 2020 | 9:22 am

    After a 7 minute presentation, I received the following question: Do you know why you should have owner’s title insurance?

    I was surprised that the public did not know about the importance of the owner’s title insurance because in every closing I discuss the owner’s title insurance and even have the buyer sign a document showing that their choice of accepting it. I explain to every buyer that for a modest one-time premium they are receiving protection from title defects, forgery, lack of access to their property and from other people’s attempt to claim the property. In my title claim law practice, I can see the expense of title claims can run into hundreds of thousand of dollars and about 1 out of every 4 properties needs some type of title issue resolution during a closing.

    Fortunately, with my 20 years of experience in real estate law performing closings and resolving title claims, I can spot the issues quickly and use the seller’s owner’s title insurance to resolve the issues so that we can close on time.

  2. Jerome Mills
    August 21, 2020 | 9:23 am

    I received a comment on a feed forward card stating they were not aware our agency offered commercial insurance.

    Well, as a result of that comment, I make it a point to indicate to all my clients that I do sell both commercial and residential insurance. Also, since I am an independent agent, I can offer insurance products from multiple carriers.

  3. Mark Magee
    August 21, 2020 | 9:38 am

    I received a question on a feedback card regarding whether or not you can have multiple ROTH IRAs. Since I talk about the different types of retirement accounts very often, that question was surprising. First off, ROTH IRAs simply mean that you are putting money into an investment account with After Tax Dollars, but the growth is all Tax Free. (The current limit for 2020 is $6,000 if under 50 yrs old and $7,000 if over 50 yrs old.) If someone chooses, they can create a new ROTH every year with a different custodian or they can contribute to the same ROTH each year with the same custodian. Since this comment came to me, I have updated my monthly newsletter to my current clients to have a ROTH Rules News Letter every November to prepare my clients to prepare to contribute to their ROTH for the coming year end. For new prospects, when I send them information on all of the different retirement plans, I am sure to include a ROTH rules sheet with that information. Cheers to getting new referrals! Mark Magee, Financial Advisor.

  4. Christopher Huber
    August 21, 2020 | 10:04 am

    After my first 7 minute presentation, one member was surporesed we did wall murals. Sometimes the language we use i.e. ” large format printing” does not really mean anything to someone outside of the printing world. I make sure my prospects get a full visual picture of what we offer.

  5. Jason Wade
    August 21, 2020 | 10:57 am

    After doing a 7 minute on the security a number of people didn’t realize a hacker would be interested in their site.

    I explained that small business sites are not normally as secure as a large business website and can often be compromised with a automatic script that craws the internet looking for vulnerable website.

    Once compromised they can then use the site to install malware on visitors to the site, send spam email or have illegal files available for download.

    They won’t mess with the site, they just want the server resources the site is using.

    This can cost a business extra bandwidth or storage cost.

  6. Mark Wells
    August 21, 2020 | 11:53 am

    My last 7 minute dealt with the information you can glean from a police report, and several FeedForward questions asked about insurance. Does property damage insurance follow the car? Does the liability insurance follow the person? What if I’m a passenger but there is little uninsured motorist coverage? I was surprised, but it lead me to my infominutes educating my teammates what direction a claim should take. With 30 years of experience, I can sort out the insurance picture.

  7. Brian Sulka
    August 21, 2020 | 1:48 pm

    My last 7 minute was on new tools Microsoft is giving away for free that help people visualize data. One Feed Forward question was ‘where else can this be used’. I could spend hours on that question. Instead, I will end up focusing several more informinutes on that.

  8. Karl Barham
    August 21, 2020 | 2:24 pm

    During my last 7 minutes I focused on how I help people grow their business thru Franchise Development. I have already retrained everyone to include this service in discussion with business owners.Next we will adapt our online marketing to highlight this Top 5 reason Business Owners should consider creating a franchise to grow their business.

  9. Steve Perry
    August 21, 2020 | 2:46 pm

    I was giving a seven minute describing a case of representation. I was surprised at a comment that asked when does the IRS crash through the door. I was surprised because that level of aggressive seizure hasn’t been in their normal MO for 20 years. It drove home the point that most people really don’t understand what I do and I have to educate my team mates and prospects alike what I do for clients.

  10. Vance Blew
    August 21, 2020 | 7:31 pm

    One time I got feedback about thing that a borrower should not do during the process of buying a new home and getting a mortgage. Don’t open any new credit. This seems so obvious to someone working with this for so long. But someone who has never been through the process has no idea what they should or should not do during the time they are getting a home loan. So this is now one of the first informational videos that goes out on every loan.. letting the client know they things to expect and what not to do during the process so that they don’t unintentionally do something to put their approval in jeopardy.

  11. Calvin Murray
    August 21, 2020 | 9:21 pm

    A FeedForward comment from a 7 Min Presentation said “I didn’t know a dysfunction from one part of your body could effect another part of your body. I thought I’d explained that over the past several weeks. Obviously I wasn’t explaining it correctly.

    I immediately began to make every conversation about someone else and not about our company to relate what we do to the individual. I also began to get more detailed in my narrative in my Info Minute to provide more clarity.

    Lastly, I used more visuals and questions to get team members involved during my next 7 Min Presentation and the while making the presentation about them and the people they know.

  12. Steven Gu
    August 21, 2020 | 9:46 pm

    I often gave out common tax planing strategies and tips during the weekly meeting so I thought my team already well versed on the general tax strategies.

    After a recent 7 minute presentation, I was surprised to hear the feedback that many of my team members do not exactly understand the difference between Tax Preparation and Tax Planning. Most thought they’re getting Tax Planning done when having their Tax Returns Prepared. Wrong.

    So Now I changed my content – instead of providing the detailed tax strategies, I also spend time educating people the misconception – just because someone can prepare taxes, doesn’t mean they know how to PLAN. Think if it like a general doctor. Yes, they’re an MD. But can they do a spinal surgery? No. You need a specialist.

    The goal for the tax preparation is to report your tax informaiton to IRS accurately, while the goal for tax planning is to look at people’s life, business, regulartory requirement to improve the tax efficiency. there’s a big difference.

  13. Ken Schmanski
    August 22, 2020 | 8:28 pm

    Due to time constraints in our PC meeting, people who either introduce the 7 minute speaker or do their 7 minute do not participate in this part of the meeting. So here is my input for my team members to read.

    After my first 7 minute, I received a question that surprised me, but made me remember a similar question during one of my first BVM presentations with a prospect. My PowerCore Teammate asked, “Do your customer’s pay for the advertisement in the magazine?” During one of my first appointments with BVM, my prospect reacted with surprise, “You mean I have to pay for a sponsorship in your magazine?” As with most objections, other than price, it meant that my presentation lacked something that should have answered their objection before it came up when I was ready to close. At closing, the only issue that needs to be addressed should be price. Price is always an issue and is always brought up regardless of how they feel about it to see if you have conviction in your product. In future presentations, I made it clear that in exchange for better branding and a voice in their target market, they sponsored the magazine with their chosen paid advertisement that made the magazine possible for the homeowners to receive it in their community.

  14. Dru Ferris
    August 22, 2020 | 10:56 pm

    Early on in my PowerCore membmership I received a Feed Forward comment after a brief mention regarding the impact of school districts to home prices and resale speed. After seeing this member’s comment, I made a discussion on schools an integral part of my regular In-Depth Buyer Interview so they better understand why schools are such an important consideration.

  15. Di Smith
    August 24, 2020 | 2:40 pm

    Receiving a Feed Forward card is an essential part of creating clearer info-minutes and seven minute presentations. I received a Feed Forward card asking me how much I charge for my services. As an Independent Insurance Agent with more than 25 years of experience, I provide free complementary insurance portfolio reviews and a remarket with many preferred providers. My clients and potential prospects get a professional review by an experienced insurance professional at no charge. It is a winning situation for them. They either have the right coverage and are paying a fair price with their current provider, OR they can do much better by getting new insurance policies with me. Once I shared this new information with my team members, it was easier for them to send new referrals to me.

  16. Amanda Walker
    August 24, 2020 | 9:13 pm

    As an artist, I once found on my feedforward card that someone had asked about pricing. The truth is, there is most always art for any budget. My art prices start at $349, and the average pricing is between $549 and $3,000+. This range usually affords someone art at any budget. I also know several artists that have art below and above those price ranges as well and I am always happy to connect folks to my artist connections as well! @AmandaWalkerFineArt

  17. Kriston Sellier
    August 24, 2020 | 9:42 pm

    I have received a comment about how long a rebranding actually takes. Even though, I have covered the schedule and timing more than 20x, it isn’t something that is recalled easily.

    It is a complex process and the timing varies based on company size. A rebranding can take 2 months for a business with less than 10 people and can take 12 months for companies over 1,000 employees.

    I have realized that I need to stay more high level and that I also need to repeat and spend more time discussing the timing multiple times.

    It also reminded me that I should keep the process simple, specific and focus on benefits to clients.

  18. Jennifer Pradhan
    August 25, 2020 | 3:47 am

    After my first 7 minute presentation, I was surprised to find that not many people knew about Adobe Acrobat’s signature feature for contracts. It allows for an easy streamlined way to get signatures from one to multiple clients in a secure way just using the free basic version of the program.
    I now make sure that this knowledge is given out when I talk about what programs I use for my business as I require contracts for client projects estimated to be above a certain price range.

  19. Thomas Freese
    August 25, 2020 | 12:20 pm

    One of our members challenged me on how to show return on investment in digital marketing, specifically search engine optimization. This is a great question. Bragging rights for being on page 1 of a Google search is not enough. So I built my next 7 minute presentation on how to estimate SEO return on investment. I also compared it to pay per click return on investment. I am also giving this presentation to another business group tomorrow. I have also prioritized ROI estimates in discussions with prospects.

  20. Melanie Strickland
    August 27, 2020 | 10:37 am

    Early on I had someone ask me why they should have a beneficiary added to their bank accounts. “Won’t my will take care of it?” Yes but your will has to go through probate. This can sometimes take months. If you have a beneficiary on record for the account at the bank, that beneficiary doesn’t have to wait. They will just need their ID and a copy of the death certificate. The bank goes by their records not the will so make sure you keep us updated with any changes. Adding beneficiaries can also increase your FDIC insurance coverage.
    This question lead me to a series of infominutes. I’ve also made it a point now to ask clients opening a personal account if they would like to add a beneficiary.

  21. blogging for profit
    November 7, 2020 | 1:32 pm

    When I originally commented I appear to have clicked on the -Notify me when new comments are added- checkbox
    and now whenever a comment is added I receive four emails
    with the exact same comment. Perhaps there is an easy method you are able to remove me from that service?

    Appreciate it!

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