Katie Arnholt Kim

With the US Census process beginning, the Better Business Bureau (BBB) advises people to be cooperative, but cautious, so as not to become a victim of fraud or identity theft. The first phase of the 2010 US Census is under way as workers have begun verifying the addresses of households across the country.

Eventually more than 140,000 US Census workers will count every person in the United States and will gather information about every person living at each address including name, age, gender, race, and other relevant data. The big question is - how do you tell the different between a US Census worker and a con artist? BBB offers the following advice:

A. If a US Census worker knocks on your door, they will have a badge, a handheld device, a Census Bureau canvas bag, and a confidentiality notice. Ask to see their identification and their badge before answering their questions. However, you should never invite anyone you don't know into your home. You don't have to invite the Census take into your house either.

B. Census workers are currently only knocking on doors to verify address information. Do not give your Social Security number, credit card or banking information to anyone, even if they claim they need it for the US Census. While the Census Bureau might ask for basic financial information, such as a salary range, it will not ask for Social Security, bank account, or credit card numbers nor will employees solicit donations.

Eventually, Census workers may contact you by telephone, mail or in person at home. However, they will not contact you by Email, so be on the lookout for Email scams impersonating the Census. Never click on a link or open any attachments in an Email that are supposedly from the US Census Bureau.

For more advice on avoiding identity theft and fraud, visit www.bbb.org

Posted by Katie Arnholt Kim
The Kim Group
www.thekimgroup.com

More and more people are becoming aware of their credit score and realizing some repair maybe needed in order to qualify for the loans they need to buy a house. So what is a good credit score? Well, according to Damon Remy of Cornerstone Restorations LLC, your credit score is graded as follows:

• 740+ A+ Lower Rates
• 700-740 A
• 620-699 B
• 580-619 C Higher Rates
• 450-579 D Virtually No Financing Available

In order to understand how your credit score is what it is, you first need to understand how your credit score is determined.

5 Factors of Credit Scoring

1. 35% Payment History - Late Pays, Collections, Foreclosures, tax liens, judgements, etc.
2. 30% Amounts Owed - Credit cards, mortgage loans, auto loans, HELOC's, etc.
3. 15% Length of History
4. 10% New Credit - soft inquiries, hard inquiries
5. 10% Types of Credit Used - mortgage loan, auto loan, 2-3 major credit cards

Before you run out and hire someone to fix your credit score, please take a look at some of the things that you should know about your credit score and what you can do about it.

1. Payment History - 35%
   1. a recent 30-day late can cost 50+ points
   2. paying a collection that is more than 2 years old can hurt your score
   3. Being past due on accounts can cost 50+ points
   4. Dispute derogatory accounts - they do NOT automatically fall off your report after 7 years
   5. Divorce decree does NOT take precedence over a creditor agreement
2. Amounts Owed - 30%
   1. New debt temporarily decreases the score - it takes 6 months before new credit cards start working possitively for you on your credit score
   2. Keep credit card balances below 50% at all times to maintain your score
   3. Keep credit card balances below 30% of the limit 3-6 months prior to applying for a home loan
   4. Do NOT consolidate debt - share outstanding debt evenly among your cards
   5. If you go over the limit on your credit card even by $1, it will cause a serious penalty
   6. HELOC's can be considered revolving debt, not mortgage
   7. Do NOT close credit cards except in certain circumstances
   8. USE YOUR CREDIT CARDS or they will become unrated in 3 months
3. Length of History - 15% & Mix of Credit - 10%
   1. Hold onto old credit cards, even if the rate is not great
   2. New credit users can add themselves to another person's credit card as an authorized user to generate a score
      1. This use to be the case, but not so much any more.
   3. Mixture is best
   4. The type of credit card DOES matter - DEPARTMENT STORE CARDS ARE A NO - NO!!!
   5. 3 to 5 revolving credit cards is optimal with established credit history
4. Types of Credit Used - Inquiries - 10%
   1. Soft vs. Hard Inquiries
   2. 14 day window for pulling your reports
   3. Inquiries affect the score for one year and can cost between 2 and 30 points on the score depending on your current score
   4. Mailings that state Pre-Approved means you are NOT pre-approved - you just fit a high level of criteria for them to send you a mailing. They haven't pulled your credit yet.

How to start improving your credit score!

1. Order Your Credit Report & Score - order your credit report and score from all three national credit bureaus, TransUnion, Experian, and Equifax. You can go to www.freecreditreport.com or several other sites.
2. Verify the Data Reported - you need to verify your data in order to ensure it is accurate.
3. Dispute Inaccurate Data Immediately - Contact your creditors and send letters of dispute to the credit bureaus to have errors on your credit report corrected. Send them CERTIFIED!
4. If you don't see your credit score increase after you have done all the above items and it's been a couple of months, then you might want to talk with a professional about helping you out. You can check out www.LeaseOptionCreditRepair.com or contact Damon Remy at Cornerstone Restorations at (314) 787-3139. Agents - you should contact Damon and discuss his program for agents with clients that need this service.

Katie Arnholt Kim
The Kim Group
www.TheKimGroup.com

I am an upbeat person. I alway try and see the positive outcome in a situation or how to make the best of a situation. I have realized that not everyone has this trait. Some people alway see the negative, alway complain about this or that instead of seeing the opportunity within the situation.

I believe it's personal motivation that makes us into who we are. If you have the attitude that no one can stop you, no one can and you probably see the positive rather than the negative in a situation and find opportunity where others can not. Although, even in the toughest times, ones motivation might be challenged or hit some rough spots.

So how do you motivate yourself? I have found that I need to constantly change how I motivate myself. The constant changing keeps it fresh and exciting to me, which is characteristic of my personality type: D and I. :) Here are some things that I have done in the past to motivate me:

• Getting up 30 minutes earlier and doing a workout video - it gave me energy in the morning and woke up my mind prior to getting into the office. I also found that I had more energy throughout the day when doing this. I talked myself into it by saying it's only 30 minutes earlier. I hit snooze for 30 minutes. I didn't take on a full hour workout, just something to get the blood bumping and that would work with the timeframe that I have.
  
• Doing yoga in the morning - I would switch back and forth between The Biggest Loser Workouts and Yoga DVDs for my morning workout. I found that yoga really helped me relax and cener my attention. Originally I wasn't a fan of yoga. I am a runner and feel you need to sweat and be breathing hard to get a workout. So when I couldn't really move the day after my first yoga class. I knew I had to change my thinking.
  
• Check Facebook, Twitter, LinkedIn and other social networks in the morning, noon, and night. I found that I was constantly checking my social network accounts which started to prohibit me from working. So I realized I had to stop this. I found that if I could get online and check my social networking sites after my workout it gave me a dedicated time to do it. I would then check it prior to going to lunch. I did it prior to lunch because there was a definite end point. So it wouldn't go on into the afternoon. Then I would check it at night. Again, there is a definite end point - how long my eyes can stay open. :) While this did not directly affect my motivation, it indirectly did because it gave me my time back.
  
• Audiobooks - I have a 20 minute drive to work. So I would listen to music and just bee-bop along till I got to the office and then try and focus once at my desk. About a year ago, I purchased an audiobook for a long car ride. The book was Good to Great - excellent book btw. I found that I was so motivated at the end of the car ride that I could hardly contain myself. I needed to get out and DO something! So I thought to myself. If I listen to an audiobook on the way to work, how pumped up would I be once I got to work? I tried it and the results are amazing! I have a great mental focus as soon as I get out of my car, and I am ready to take on the day. You can also download audiobooks onto your ipod. So you don't have to worry about carrying the CDs or losing one.
  
• Podcasts - I tried podcasts a couple years ago when the buzz came out and I didn't really get it. So I thought I would give it a try again. I am pleasantly surprised. I went onto iTunes website, clicked on "podcasts", and then clicked on "business" (all on the left side) and a bunch of podcasts came up. I decided to try some podcasts on sales and project management. These podcasts are free! There are some you have to pay for, but there are a lot of them that you do not have to pay for. I recently subscribed to Sales Gravy, Zig Ziglars motivational podcast, PM, and real estate investor. I need to throw out that you might want to listen to a couple of podcasts prior to concluding if you like it or not because you might be listening to a bad topic or podcast, but all the other ones might be awesome.

So what motivates you? I have heard people making dream boards, which I have entertained doing, but haven't just yet. I have heard people getting coaches to hold you accountable. So I am thinking they also motivate as well.

Please feel free to share how you motivate you!

Strategies for businesses in a downturn economy

In reading a recent article on businesses in this downtown economy, Harvard Business School professor Michael E. Porter founder of the modern field of business strategy answered some questions on how and where businesses should focus during this time.

Question: What strategies should small businesses use to survive this recession?

He expressed that during a time period of economic downtown there is an overwhelming instinct to lay off and cut back. He recommends that if you are going to lay off and cut back, you need to do it with your business strategy in mind. The biggest mistake is to cut across the board. He goes on to state that "good leaders need a positive agenda, not just an agenda of dealing with crisis."

This reminds me of the first couple of points in the book Good to Great. You need to get the right people on the bus, then with the right people, you need to decide where you are going (aka business strategy). If we lay off the wrong people, then we have the wrong people on the bus directing our business, which can be the demise of a company. Gary Keller of Keller Williams Realty said during the 2009 Keller Williams Family Reunion that this is the "Era of Extra Effort" those who are average or mediocre will be laid off. You are seeing this across the nation. Companies are laying off individuals - cleaning house. Now, I need to throw a clause in here that some companies are letting good individuals go because they are not going about it according to their strategy.

Question: What is the best way for small businesses to capitalize on any recovery?

Porter comments companies that ramp up their capacity will aline themselves to gain market position. Larger organizations will not be able to meet the new demand due to downsizing or outsourcing.

This is inline with what Keller said - Get Real! Get Right! Wake-Up! "The Business with the Lowest Costs Wins!" - look at the investments in your business and put a dollar amount to everything. Is advertisement XYZ paying for itself? What's the ROI? Is it worth the investment? Remember the profit you seek will always be made in the way you manage your money. When the market shifts, you must create a budget that matches your revenue. You need to lower your costs now and revisit this every month.

As Charlie Munger, Warren Buffett Speaks, "Name a business that has been ruined by downsizing. I can't name one. Name a company that has been ruined by bloat. I can name dozens."

Are there opportunities in trying times?

Porter stated "during an economic downtown there is a greater level of flexibility."

Get involved in the market of the moment. What is happening now? Normal homes priced at their normal value are not selling. What is selling? What price range in your area is selling? What REOs are there in your area? Short Sales? Foreclosures? Lease Renegotiations? Companies down sizing? Companies expanding. Know your market and the market of the moment and price your listings ahead of the market.

As W. Edwards Deming said "It is not necessary to change. Survival is not mandatory."

Looking for commercial real estate in peoria il? See what we can do for you!

Maintaining your online image

With social networking becoming more and more popular and not just with the teens and tweens, don't be surprised if your professional network start conversing with you about your latest Facebook post or Tweet. I was at a Women In Leadership monthly luncheon when one of the ladies at my table asked me how I got involved in Building Steam, which is a local running program. I was completely surprised by the question, and I knew she could tell by the expression on my face. She said "I am following you". I had to laugh because I didn't realize anyone of my professional network connections were truly following me. It ended up a great connecting point with some of the new individuals at the table and lead into some great business conversations.

So back to my point, with your professional network starting to follow you or your company online, how do you monitor your online image? We all know bad news spreads faster than good, and it's hard enough to control it when it's word of mouth, but when it is a tweet that is showing up on everyone's Twitter that are following them, things can get out of control fast.

So here are some tools are online monitoring or spying:

• www.backtype.com - sends alerts when a comment is made that includes your company name or brand
• www.blogpulse.com - searches blogs for mentions of your company
• www.boardreader.com - searches message boards, forums, videos, and Twitter
• www.google.com/alerts - sends you alerts when your company or brand appears on the Web, blogs, news, video, or discussion groups
• www.icerocket.com - searches blogs, news, Web, MySpace, Twitter, images
• www.search.twitter.com - searches for mentions of your brand or company on Twitter
• www.tweetdeck.com - among other things it can monitor mentions on Twitter
• www.technorati.com - searches blogs, photos, and videos

If you don't think your competitors are not using these tools, think again. When I tweet'd "going kayaking and reading a book - is there anything better to do tonight?", I had three "following" requests from sporting good stores and two from other individuals. When I tweet'd "heading to Wine & Book Club - I just finished the book! Yes!", I had two "following" requests from wine companies/providers. Companies are using these types of tools to find their customer base or to expand their customer base. You might want to search for people tweeting about "homes", "commercial space", whatever your specialty is to find out the online pulse of what is out there. Some of these applications/tools also let you restrict the search to a specific demographic area. They are very powerful and constantly evolving.