Invest in Portland

“What do you do for a living?”

We ask and are asked this question all the time. If you have a superior answer to this question, you can create a never-ending stream of qualified and motivated prospects that you will convert into paying clients, and, more importantly, you can avoid a lifetime of missed opportunities.

The Compelling Elevator Speech differs from the old, traditional initial conversation in one critical way. The compelling elevator speech is not about you at all. It is all about the other person.

When you are asked, “what do you do for living?” your answer should be short and direct. You should be able to tell someone what you do for a living in 30 seconds or less. It should be clear to them exactly what you do for living. Include some kind of benefit statement in your answer besides just the description.

You want them talking about themselves. Ask them questions that are not threatening and will allow you to find out it if they are a good prospect for you. You should do this in a very structured manner. Here is a simple example for you to consider.

Question: “What do you do for living?”
Answer: “I am a Warren Buffett style financial advisor. I specialize in helping people plan for their retirement. What do YOU do for a living?”

OR: “I am a Warren Buffett style financial advisor. I specialize in helping business owners and professionals build their net worth. What do YOU do for a living?”

It is your job to gather as much information about the other person as you can. GENTLY – pump them for more info, e.g.; “how long have you been in that field?” Remember – gently – this is a pleasant conversation, not an interrogation.

“How did you get into that field?”
“Who is your typical client (customer, patient, etc.)?”

People love to talk about themselves. You know that people would rather talk than listen because as a normal human being, you would rather talk about yourself than listen to strangers talk about themselves. Successful wealth managers do not have to be abnormal human beings or be manipulative. We simply have to develop and cultivate a specific skill set that will advance us professionally.

Now, create your own answer to the question. Remember, your answer should be short, clear, aimed at your target market and end with a question, getting the other person to talk about themselves. It should also be an answer that sounds like you and with which you are comfortable.

Write down your answer. No matter how short or how simple – write it down. When you have your “final” answer clearly written, say it out loud a few times. Sometimes, even the most beautiful written words do not sound right when spoken aloud.

Repeat your answer over and over again until it sounds right to you and you are comfortable with it. Then fine-tune it. Record it and to play it back so that you can hear how it sounds to others. Don’t just memorize your answer – own your answer. Have it be an integral part of you.

Now, take your answer out for a spin. See how it works the next time you are asked: “What do you do for a living?” Notice if your answer was automatic and seemed spontaneous. If you need to fine-tune your answer, do it.

This skill is like most other skills. Whether swinging a golf club, playing piano or playing poker, you will get better with practice. I can guarantee you that you will increase your effectiveness and your income by successfully mastering the compelling answer to the question “What do you do for a living?”

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It is rare for the government and entrepreneurs to have the same mindset with a particular idea. However, the thought that investing in small businesses is a good idea is one concept they can agree on. In order to encourage people to make such an investment, Congress has implemented tax benefits to those who invest in small businesses that meet the definition of a Qualified Small Business, or QSB. There are three specific tax benefits which are a 50% exclusion of gain appreciated by investors when the stock is disposed, a deferral of gains if the investor rolls over the gains to invest in another QSB’s stock, and a re-characterization of capital losses if the investor loses money in the investment.

Section 1045 of the Internal Revenue Code, often known simply as the Code, allows investors to sell QSB stock without gaining anything taxable as long as they reinvest the gains into a new QSB within 60 days of the sale. This is a benefit that investors can appreciate when investing in small businesses as long as the investors are not corporations themselves. Also, the stock needs to have been held onto for six months prior to the sale to utilize this benefit. Any money that is left over when the subsequent stock is purchased after the sale will be taxed.

There is always a risk in investing in small businesses, even despite the tax benefits you appreciate. If the company fails to meet up to their own expectations, you will lose money in your investment. Fortunately, investors may be able to use the losses as ordinary losses instead of capital losses. This will help offset ordinary income. Of course, all of these benefits have exclusions and exceptions. When utilized properly, however, you could benefit greatly as an investor in small businesses, thus helping to offset some of the inherent risk of making such an investment.

In order for entrepreneurs to attract people to invest in their businesses, these benefits are imperative so investors can reduce their level of risk and increase returns. To make sure you are eligible to receive all these tax benefits of investing in small businesses, you should first speak with your tax advisor before investing any money. After all, tax laws are long and confusing, forms change every year, and there are certain things you must do to qualify for the benefits. When it doubt, speak with your tax advisor.

Investing is something that even in difficult economic times people are thinking about doing. This means that they are looking for the lowest investment with the biggest return and a way to keep their money safe and growing. Using balance sheet accounting offers investors a great way to keep track of their investments and how they are affecting their budget. There are many ways that an investor can keep track of their investments including the many computer programs available on the market today. You may want to consult with a professional to select the right one for your needs.

Investors who are interested in keeping track of their investments but do not necessarily want to use balance sheet accounting can use some of the automated investment accounting processes. This means that they are able to let the computer do the work for them. This is a great process by which individuals can put in some basic information about their investments and keep track of where their money is going. Choosing the right tool for you may take some investigation and a little research into what works well for your life.

If you are interested in investing but do not want to be the one to monitor your investment daily or keep track of balance sheet accounting you may want to talk with an investment advisor to get the scoop on what is hot. They can keep track of everything for you and simply give you updates when you require them. This allows the investor to spend more time focused on living life and less time focused on the next penny up or down in their investment portfolio. Many of these advisors will be able to keep your investments going for you and simply supply you with a paper update at regular intervals.

Choosing a form of keeping in touch with your investment whether it is by using balance sheet accounting, a computer system or even the use of an advisor who will keep track of it for you, is a matter of preference and understanding how often you want to address your investment issues. You may not want to think about investing every day and perhaps you want to let someone else do the work and only be in touch when there are new things to discuss. Any way you look at it investing can be done without having to be thinking about it every minute of every day. For more information on investing in investment opportunities usually or normally not found in the marketplace, click here!

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