1. MASTERING
MARKETING & SALES
5-Nov-15
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MASTERING
MARKETING
&
SALES
FOR PROPERTY PROFESSIONALS
ghazali.mdnoor@gmail.com5-Nov-15
Takrif
Ukuran
Hurai
Perbaiki
Pantau
Lessons Learned
Name
Business/ Dept.
Role
Introduce Yourself!
Write down 3 facts about
yourself
One must be a lie
Present yourself to the others
Others have to spot the lie
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Individual Exercise (15 mins)
There are 4 flipcharts around the room
1. What are you leaving behind to be here today?
2. What do you want to take away from today?
3. What are you offering to the group today?
4. How would we like to work together today?
Visit each in turn and add your comments
Icebreaker
Listen to others
Don’t put other people down
Respect Confidentiality & Trust
Show Respect
Don’t Interrupt others
Try to accept others views
Ground Rule Games
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Malaysia’s Property Market Slowing
Global Property Guide. (2014, June 15). Malaysia's Property Market Slowing. Retrieved from Global Property Guide:
http://www.globalpropertyguide.com/Asia/malaysia/Price-History
Malaysia’s nationwide
house prices rose to
RM276,668
Nominal (red line):
Excludes
macroeconomic factors
Real (blue line): Includes
macroeconomic factors
Affordability of Middle-Income
Earner & Average House Prices
Dr W. N. Azriyati, A. P. (2009). Affordability Compared to Mean Housing Price For Current Middle Income Home
Owners. A Study on Affordable Housing Within The Middle Income Households in The Major Cities and Towns in
Malaysia, 15.
Aidila, C. (2011, May 12). Rising House Prices
Create Homeless Generation. Retrieved from
Malaysia Kini: www.malaysiakini.com/news/163963
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Offensive Investments
Potential
Return
Risks
* Fixed Deposits (3% pa)
* Endowment Policies (2-4% pa)
* Bonds/Bond Funds / REITs (6-8% pa)
* Property * Equity Funds (10% pa)
* Stock Market (20-30% pa)
* Hedge Funds (>30% pa)
* FOREX/Options/
Commodities/etc
Inflation
Types of Property Investment Strategies
Buy from Developers and Resell
Upon Completion
Important to Buy the …
From the Right Developers
Right Property Type
in the Right Location
at the Right Time & Price
2-3 years at
20-30% higher
Repeat the
Formula!
Sell on Completion
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Example
Book Apt @ 500K
D/P = 100K (-)
Loan = 400K
Sell @ 600K (?)
Loan @ 6% = 435K
Profit = 165K (+)
Sell on Completion 3 Years Later …
Gross 165K – 100K
Profit = ------------------ % = 65% over 3 yrs
100K = 18.1 % pa (compound)
Disadvantages !!
Price is Cheap but the RISKS you take
are extremely HIGH
Makes Sense to Pay Slightly More to
Buy Ready Made. You know exactly
what you are getting + the Risks is
much lower
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Structuring Your Property Portfolio
5. Raw Land/
Development
4. Commercial Properties
(Shops, Offices, Factories, Warehouses)
3. Ready Made – Buy for Appreciation
(Landed Houses)
2. Ready Made – Buy for Rental Returns
(Medium Cost Apartment)
Rental Returns: 7-9% pa
Appreciation: Poor (< 2% pa)
Easy to Buy with Zero D/P and
+ve C/F (suitable for beginners)
Tenant Mgmt will be challenging
3. Buy Ready Made Landed
Houses – Buy for Appreciation
Rental Returns: Poor (3-5% pa)
Appreciation: Good (3-5% pa)
Total Returns: 6-10% pa
• With minimum D/P, you will have –
ve C/F (Rental < Installment)
• Timing is very important
• HIGH RISKS due to –ve C/F
2. Buy Ready-Made Medium Cost Apts
– Buy for Rental Returns
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Rental Returns: 6-8% pa
Appreciation: Good (3-5% pa)
With minimum D/P, possible to get
Zero C/F (Rental = Installment)
Location extremely important
Possible to get “Lifelong” Tenant
Suitable for Wealthy Individuals
4. Buy Commercial Properties
5a) Raw Land – good way for the super wealthy to
“park” their surplus funds for their future generations
Tip: Buy in Areas where
the growth is heading
towards
Plantation
– expertise needed
Example: Garry bought a run-down
bungalow in Bangsar @ RM1.5m
Tear Down + Rebuilt + Furnish =
RM1m
Sold 6 months later @ RM3.3 m
Gross Profit = 800K for 1 year work
Property Development
– your ultimate aim to
make profits of 30-50%
per project
5c) Homesteads
6. Buy Basic or Run Down
Properties, Renovate, Sell Off
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All auction properties are sold on a “as is, where is
basis”. Clause in the Proclamation of Sale stating
“Prospective Bidders are advised to inspect the
subject property and check on the issuance of
separate individual titles/strata titles, seek Legal
Advice on the Conditions of Sale, conduct official
parent Titles search at the relevant Land Office and
make the necessary enquiries with the Developers
and/or other relevant authorities on the terms of
consent to the sale prior to the auction sale”.
…. if you can find the
owners. Restore the
property back and
sell it off.
7. Specialize in Abandoned
or Haunted Properties
8. Specialize in Auctions
9. Buy in Areas where
Accessibility is being Upgraded
Example: Old Klang Road,
Kesas, new Guthrie
highway, etc
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Goal:
Become a Millionaire by the time
you Retire by buying 1 medium
cost Apt worth RM100K every 5
years with
Zero to Positive Cash Flow with the
Potential for Long Term
Appreciation.
1. D/P = 25K (25%) so that C/F=0
=> Saving of RM416/mth x 5 years
2. Loans @ 8% for 20 years
3. First Apt @ 30 years is own use
4. 1 Apt bought for Investment every 5
years starting at age 35 until age 55
years
5. No Inflation & Compound Interest
Assumptions:
How You Can Retire a Multi-
Millionaire via Properties
Monopoly: How to Play
Lay board down, set up cards
Choose favorite token
Select a Banker
Distribute starting money to each
player
Roll dice, move number of spaces
Buy properties if you choose to
Play Continued
Pay rent on others property
Roll again if you roll doubles
Doubles three times… go to jail
$200 every time you pass go!
To Win:
Have the most money and
assets
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Record the Following
Position on the board
Money for each player
Properties owned and
houses built
The “Monopoly” Analogy
In the game, the goal is to be the wealthiest player
through buying, renting, and selling property.
In every game there are winners and losers, just like
real life!
While homeowners want the value of their home to
increase, when this happens, so does the property
tax.
So, when gentrification drives up property values,
some people (usually those on fixed incomes, or with
low paying jobs) can’t afford their homes anymore.
Reflection Questions Monopoly
Job responsibilities
Company message
Competitors
Company overview
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, Dave Shrigley
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Marketing Process
Investors
Sales
Channels
Target
Accounts
Partners
Industry &
Financial
Analysts
Trade &
Business
Press
EXISTING
• ________
• ________
• ________
• ________
• ________
NEEDED
• ________
• ________
• ________
• ________
• ________
Strategy
Evidence
Positioning
Strategy
Statement
Positioning
Strategy
Company
Business
Strategy Market
Entry
Customer
Segment
Messages,BrandStrategyandPrograms
Strategy Market Leverage
Company
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Developing Strategy Evidence:
Market Leverage Model
Market Segment
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Market
Entry
Customer
Segment
Company
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Validation
Education
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Message distribution channels
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Definitions
Sales Methodology
A set of concepts and techniques which, when learned and
consistently practiced, increase sales and customer satisfaction
Sales Process
A series of small, logical and explicit commitments that the
buyer makes as he/she advances toward ultimately committing
to purchase
, Dave Shrigley
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Sales Process
(Funnel) Management
PROSPECTING-BY SEGMENT
DEMO
NEEDS ANALYSIS
CONVERSATION EVALUATION
CONVERSATION EVALUATION
DELIVERED
PROPOSAL/QUOTE
DELIVERED
CONTRACT
NEGOTIATIONS
Customer
Commitment
Stage
WIN!
Accepts Sales Call,Tradeshow, Webinar Invitation
Agrees to do Site Survey/Benchmark
Schedules Trial, Allocates Resources
Takes Delivery of Product, Training
Signs off on Trial Results
Begins Contract Negotiations
Signs Contract
Clearly defined, simple, process and tools with feedback loop
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Lead Generation by Stages of
Company Development
Marketing
Sales (Telesales, ‘Elephant Hunters’,
Channel Partners)
Marketing
Sales (Telesales,
‘Elephant Hunters’)
Marketing
Sales (‘Elephant
Hunters’)
Participants
Referral (Extended personal networks)
Partners/Customers
Formal programs
Referrals (Extended
personal networks)
Partners/Customers
Formal programs
Referrals
(Personal
networks)
Informal/ad hoc
programs
(Participation in
visionary/early
adopter events
etc.)
Sources of
Leads
Feed the Funnel: Develop market entry
segment momentum and revenue flow
Identify Potential
Lead Sources in
available customer
segments
Acquire Beta
customers
Lead
Generation
Goal
Phase
Product
Development
Cycle
Beta
Launch,
Market
Development
Ongoing
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Strategic Analytical Tool:
4 Generic Strategies-Customer Objectives for Different Value Propositions
Lowest-Cost
Supplier
Best Total
Cost
Product
Leader
Complete
Customer
Solutions
Consistently High
Quality
Speedy Purchase
Appropriate
Selection
“offer products & services that are consistent, timely and low-cost”
“products & services that expand existing performance boundaries into the highly desirable”
Examples: Southwest
Airlines, Dell, Wal-Mart,
McDonald’s
Examples: Sony, Mercedes,
Intel
High-
Performance
Products
First to Market
Penetrate New
Markets
Examples: IBM, Goldman
Sachs
“provide the best total solution to our customers”
Quality of
Solutions
Provided
Number of
Products/Services
per Customer
Quality of Client
Relationship
Customization of
Solution
System Lock-
In
Examples: Proprietary
Operating system, eBay, Yellow
Pages
“high switching costs to end-use customers”
Offer Broad
Selection &
Convenient
Access
Provide a Widely
Used Standard
Provide
Innovation on a
Stable Platform
“add value to complementors”
Offer Easy-to-
Use Platform &
Standard
Provide Large
Customer Base
1
2
3
4
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Concept:
From Mission Statement to Measureable Outcomes
Why We Exist
Mission
What’s Important to Us
Values
What We Want to Be
Vision
How We Create Value [Our Game Plan]
Strategy
Translate the Strategy
Strategy Map
Measure and Focus
Balanced Scorecard [BSC]
What We Need to Do
Targets & Initiatives
What I Need to Do
Personal Objectives
Strategic Outcomes
Satisfied
Shareholders
Delighted
Clients
Efficient and
Effective
Processes
Motivated &
Prepared
Workforce
Strategy is about selecting
the set of activities in which
an organization will excel to
create a sustainable
difference in the marketplace.
The sustainable difference
can be to deliver greater
value to clients than
competitors, or to provide
comparable value but at lower
cost than competitors.
“Differentiation arises from
both the choice of activities
and how they are performed.”
Strategy is not a
stand-alone
management
process. It is one
step in a logical
continuum that
moves an
organization from a
high-level mission
statement to the
work performed by
its associates.
Concept:The Brand & the Brand
Spectrum
brand spectrum: attribute hierarchy
WILL DIFFERENTIATE
Emotional attributes such as: trust,
interesting, respect, indispensable
MAY DIFFERENTIATE
Specialty areas, trends
MUST-HAVEs TO BE
CONSIDERED
Value/price attributes, customer service,
variety, strength in basic products
EMOTIONAL
ATTRIBUTES
FUNCTIONAL
ATTRIBUTES
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One Of The Best Practices
For BSC Work Flow
1. Internal Scanning
2. External Scanning
3. SWOT Analysis
4. Strategy Mapping
6. Targets Setting
5. KPIs Setting
7. Initiatives Setting
9. Performance
Monitoring
8. BSC Dashboard
Internal Scanning Summary
Introduction
Internal scanning is a strategic planning technique that
helps in determining the firm’s strengths and weaknesses
and any related issues inside the firm
Purpose
• Knowing firm’s strengths and weaknesses
• Getting exposed to the firm’s processes and chain of
commands
Suitable
Techniques
The following techniques are suitable to serve the internal scanning
purpose:
• Value Chain Analysis
• Capability Assessment
Expected
Outcomes
Once the internal scanning is done, it is expected to have:
• Firm’s strengths
• Firm’s weaknesses
• Firm’s processes and value transferred from each process to another
• potentials for improvements
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Property Marketing
Project Life Cycle
Lead Generation
Lead
Generation
Process
Involved
Lead
Closure
Key Responsibilities
Value transferred
Key Responsibilities
Value transferred
Key Responsibilities
Value transferred
Value Chain Analysis
Organization
Readiness (%)
People
Readiness (%)
Process
Readiness (%)
System
Readiness (%)
Evidence and
Comments
Activity A
Activity B
Activity C
Activity D
Capability Assessment
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External Scanning Summary
Introduction
External scanning is a strategic planning technique that
helps in determining the firm’s opportunities and threats
and any related issues outside the firm
Purpose
• Knowing firm’s opportunities and threats
• Getting exposed to the firm’s competitors and market changes
Suitable
Techniques
The following techniques are suitable to serve the external scanning
purpose:
• Industry Trends
• Porter 5 Forces Model
Expected
Outcomes
Once the external scanning is done, it is expected to have:
• Firm’s opportunities
• Firm’s threats
• New trends and demands
• potentials for investments and competitive advantages
Trend Description Supporting Evidence Implications
Trend A
Trend B
Trend A
Trend B
Trend A
Trend B
Trend A
Trend B
Trend A
Trend B
Competitive
Trends
MarketTrends
Regulatory
Trends
Technology
Trends
OtherTrends
Corporate Industry Trends
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Focal
Firm
Buyers
Suppliers
Entry
Rivalry
Substitutes
Complementors
Demographic
Trends
Technological
Change
Cultural
Trends
Economic
Climate
Legal/Political
Conditions
Specific
International
Events
Industry
General External Environment
SWOT Summary
Introduction
SWOT is a strategic planning technique that helps in
determining the firm’s strategic directions and priories
Purpose
Knowing what strategies will sustain the growth of the firm and
what will be done in order to extract advantaged over the
competitors
Suitable
Techniques
The following techniques are suitable to serve the SWOT
purpose:
• SWOT Matching
Expected
Outcomes
Once the SWOT is done, it is expected to have:
• Firm’s strategic directions and priorities
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Strengths
•Advantages
•Experience, knowledge
•Unique caracteristics
•Resources
•Geographical advantage, location
•Competence, capabilities
•Quality, reputation
Opportunities
•Strategic alliances, partnerships
•Product development
•Import, export
•Innovation an technology development
Threats
•This is an example text.
•Loss af alliances and partners
•Price infaltion/deflation
•Strong competition
•Competitors new products and innovation
Weaknesses
•Disadvantages
•Gap in experience, knowledge
•Financial aspects
•Reliability and trust
•Loss of key staff
•Geographical factors
S W
TO
SWOT Analysis:
Primary factors
S O
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SWOT Analysis:
Positive factors
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W T
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SWOT Analysis:
Negative factors
S OW T
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Opportunities
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2009
2010
SWOT Analysis:
Differentiating values
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Leverage the planned expansion for Jeddah airport to attract the
growing charter market in the region
SO1
SO2
SO1
WO1
WO2
WO3
WT2
Explore New
Market Segments
to Expand
Revenue Base
Strategic Priorities
1
2
3
SO ST
WO WT
WO4
WO5
WO6
SWOT Analysis
TOWS Matrix
52
Match strength with opportunities
Strengths to commercialise
Opportunities
Use Opportunities to
overcome weaknesses
Which weakness an impediment?
Stop weaknesses overcoming
Opportunities
How to respond and protect
business?
Take advantage of Strengths to
avoid threats
Which weakness can cause
adverse impact?
Defensive strategies to minimize
weaknesses and avoid threats
Internal Assessment:
Organisational assets, resources, people, culture, systems, partnerships, suppliers, . . .
External
Assessment:
Marketplace,
competitor’s,
social trends,
technology,
regulatory
environment,
economic
cycles.
ExternalFactors
OpportunitiesThreats
Internal Factors
Strengths Weaknesses
1. Internal Strengths Matched with
External Opportunities
…
…
…
…
2. Internal Weaknesses Relative to
External Opportunities
…
…
…
…
3. Internal Strengths Matched with
External Threats
…
…
…
…
4. Internal Weaknesses Relative to
External Threats
…
…
…
…
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Strategy Mapping Summary
Introduction
Strategy mapping is a strategic planning technique that
helps in representing the firm’s strategies in such a way
that shows the cause and effect of each strategy
Purpose
To ensure that each strategy does really serve a specific other
strategy, and the overall strategies serve and feed the firm's
vision
Suitable
Techniques
The following techniques are suitable to serve the strategy
mapping purpose:
• Strategy Map
Expected
Outcomes
Once the strategy mapping is done, it is expected to have:
• Firm’s strategy map
InternalProcessStakeholderLearning
&Growth
Reduce Re-Activities
thru ABC/M
Establish Web Based
Self Services
Knowledge
Management
Human Capital
Improved Returns on
Investments
More rapid and
accessible services
Leadership
Development
Investments
Strategy Map: Capture a Cause Effect
Relationship from the Bottom Up
IT InfrastructureFacilities and
Fixed Assets
Economic
Model Process
Expand Global
Facility Reach
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LEARNING AND GROWTH
PERSPECTIVE
INTERNAL
PERSPECTIVE
CUSTOMER
PERSPECTIVE
FINANCIAL
PERSPECTIVE
VISION
Balanced Scorecard
Quick Guide
2 Special Techniques
for Building Strategy Maps
The 4 to 5
Rule
Splitting the
Perspective
General Rule of Thumb to ensure strategy map is developed both
vertically and horizontally
Way of pulling out both drivers and outcomes that match up against the
core competencies of the business model
Customer Growth Customer SatisfactionRetention Rate
Timely Delivery Pricing Quality Service Reputation
Customer Perspective
Outcomes
Drivers
Weak Strong
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Leading
Definition
Lagging
Input
Output
Outcome
Objective /
Quantitative
Example
Intermediate outcomes that predicts or
drive bottom-line performance results
Measure Type
Bottom-line performance results resulting
from actions taken
Amount of Investments, assets, equipment,
labor hours, or budget dollars used
Units of a product or service rendered - a
measure of yield
Resulting effect (benefit) of the use or
application of an output
Empirical indicators of performance
Subjective /
Qualitative
Perceptions and evaluations of major
customers and stakeholders
Employee turnover rate
Employee satisfaction rating
Number of Value Meal orders fulfilled
Customer satisfaction rating
Wait time
Customer complaints received as a % of
total customers served
Number of cashiers
Types of Measurements
Stakeholder / Customer Internal Processes
Learning and Growth Investments
• % of facility assets fully funded for
upgrading
• % of IT infrastructure investments
approved
• # of new hire positions authorized for filling
• % of required contracts awarded and in
place
• Percentage employee absenteeism
• Hours of absenteeism
• Job posting response rate
• Personnel turnover rate
• Ratio of acceptances to offers
• Time to fill vacancy
• Number of unscheduled maintenance calls
• Production time lost because of maintenance
problems
• Percentage of equipment maintained on
schedule
• Average number of monthly unscheduled
outages
• Mean time between failures
• Current customer satisfaction level
• Improvement in customer satisfaction
• Customer retention rate
• Frequency of customer contact by customer
service
• Average time to resolve a customer inquiry
• Number of customer complaints
Examples of Measurements
by Perspective
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KPIs Setting Summary
Introduction
KPIs (Key Performance Indicators) are measures that
indicate how is the progress of strategic objectives and
targets achievements
Purpose
To indicate and alarm the management for strategy and targets
achievements or deviations
Suitable
Techniques
•KPIs Profile
• Benchmarking
• KPIs Libraries
Expected
Outcomes
Once the KPIs setting is done, it is expected to have:
• Firm’s KPIs
• KPIs definitions & frequency of review
•KPIs formulas
• Strategic objectives that are measures by specific KPIs
• KPIs owners
Definition
Definition
Definition
Definition
KPI Definition
X+Y = Z
X+Y = Z
X+Y = Z
X+Y = Z
KPI Formula
W/M/Q/S/A
W/M/Q/S/A
W/M/Q/S/A
W/M/Q/S/A
Frequency
Name / Dept.
Name / Dept.
Name / Dept.
Name / Dept.
Owner
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Targets Setting Summary
Introduction
Targets are those values (determined in each KPI) that
the management wants to achieve within a certain time
Purpose
To make the KPIs and the measurement more quantifiable and
measureable
Suitable
Techniques
• Benchmarking
• Forecasting
• Feasibility studies
• Market Research
Expected
Outcomes
Once the targets setting is done, it is expected to have:
• KPIs targets
• Targets values & units
Initiatives Setting Summary
Introduction
Are those actions that are predesigned and dedicated to
achieve the determined targets and to activate specific
KPIs
Purpose
To help the firm achieving strategic objectives
Suitable
Techniques
• Benchmarking
•Feasibility studies
• Market Research
• R&D
Expected
Outcomes
Once the initiatives setting is done, it is expected to have:
• Strategic plan initiatives
• Owners
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Tool 3: KPI Tracker
1 A4 to execute
All the pieces of the Value Drivers come together in a dashboard that monitors performance:
Strategic Priority A
Strategic Priority B
Strategic Priority C
Strategic Priority D
Strategic Priority
1. KPI1
2. KPI2
3. KPI3
1. KPI1
2. KPI2
3. KPI3
1. KPI1
2. KPI2
3. KPI3
1. KPI1
2. KPI2
3. KPI3
KPI
VALUE (unit)
VALUE (unit)
VALUE (unit)
VALUE (unit)
Target
1. Action A
2. Action B
3. Action C
1. Action A
2. Action B
3. Action C
1. Action A
2. Action B
3. Action C
1. Action A
2. Action B
3. Action C
Initiative
Multiple Choice Question –
Appropriate Measurement
The measurement, % of employees following a
supervisor approved competency model, would most
likely be placed in which perspective of the Balanced
Scorecard?
a. Stakeholder / Customer
b. Learning and Growth
c. Agency Investments
d. Internal Processes
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Location
Development and Growth Rate
Trend of Property Values
Demand/Supply
Exposure Time
Marketing Time
Predominant Occupancy
Single-Family Housing Price and Age
Present Land Uses
Potential Land Use Changes
Neighbourhood profile
72
Development Phase
Stable Phase
Decline
Renaissance
The neighborhood cycle
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Evidence of
neighborhood change
Land-use changes are key signs of neighborhood change!
Decline in Construction Degree of Maintenance in Existing
Buildings Renovation Activity on Existing Buildings
74
To Define the Geographic Area for Market Data
Search
To Estimate Highest and Best Use of the Property
To Assist in the Comparable Sales Adjustments
We use neighborhood information
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Notice the Golf Course North
Notice the Dry River on the West
Notice the Main Streets on East and South
Residential neighborhood
76
Notice Dry River on North
Notice Freeway on South
Major Streets on East and West Borders
Industrial district
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Typical Patterns of Land Use: Concentric Rings
Dennis J. McKenzie and Richard M. Betts, The
Essentials of Property Economics, 6th ed.,
Cengage Learning, Mason, Ohio, 2010
Concentric ring growth
80
Segmented Rings
Courtesy of the California Department of Property
Segmented ring growth
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Dashboard Summary
Introduction It is a simple visualization of the firm’s performance
Purpose
To help the management taking decisions and being up to date
with the firm’s overall performance
Suitable
Techniques
• MS Power Point Presentation
• MS Excel
• other software
Expected
Outcomes
Once the BSC dashboard is done, it is expected to have:
• Projected BSC perspectives and firm's strategic priorities
with notifying designs
Internal Processes Dimension
Indicators
% (Actual
/ Target)
Learning & Growth Dimension
Indicators
% (Actual
/ Target)
Financial Dimension
Indicators
Actual < 90% of Target
90% of Target < Actual < 100% of Target
Actual >= 100% of Target
% (Actual
/ Target)
Internal Processes Dimension
Indicators
% (Actual
/ Target)
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Know when to talk and When listen.
Move the Process Forward.
Deal with Objectives.
Here are a few basic rules for dealing with objective:
Answer every objective.
Don’t argue.
Make sure you know the real issue.
Managing The Sales Process
Lead Closure in Property
• Timing.
• Learn to Apply Closing Techniques.
• Help Clients Realize that the Property is Right for them.
Roles & Responsibilities
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LESSON #1:
Know the real playing field
Success in handling
money requires understanding the
field you’re playing
on, which likely is
not level or balanced.
Lesson #2:You Must Be Prepared to Take Losses on the “Road,” if You are to Ultimately Win.
Traveling around the Monopoly teaches you that adversity not only lurks, it
happens. The board is a vehicle that carries you from decision point to
decision point. If you make the most of each choice encountered, you
improve the odds of winning the game.
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Lesson #3:Before you can make money, you have to steadily think about, and apply yourself, to making money.
In other words, you can’t succeed by assuming you can manage
your nest egg when the whim strikes. You need to commit
yourself to making intelligent decisions daily, through careful
study and application of sound financial principles.
Lesson #4:Think of your Personal Finances as if You were a Business
Like any business, you have assets and debt.
In the game, your assets consist of CASH, DEEDS and BUILDINGS. Your liabilities will be MORTGAGES.
The difference is your NET WORTH. As long as your net worth is positive, you are in the game.
If your net worth goes “in the red”
you go bankrupt! Good-bye.
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Lesson #5:
Know the Rules of the Game You’re Playing.
By the time the fool has learned the game, the players
have dispersed.
– African Proverb–
Each participant is handed pieces of paper
Each paper has the name of other participants
Each participant has to write “ I am glad I met XXX
because…….”
The pieces of paper are distributed to the appropriate
people and read when they get home
Closing Games
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3 things you have learnt today
2 things you are not sure about
1 way you can link what you have done today to your work place
Wrap Up
96
Write Down
Learn Unlearn Relearn Evaluation
97
Please rate the following aspects of the course
excellent good not good poor
1. Organisation & domestics
2. Content
3. Notes
4. Presentation
5. Overall enjoyment
Other topics of interest
Course Date Name
