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How to Use Demographics to Predict Future Business Trends
November 30, 2010
Don Creech joins the Boss Business Brief to discuss demographics and economic trend. Knowing age groups and purchasing patterns helps businesses position themselves for emerging markets and increased needs. But how?
Mike Siegel interviews Don Creech on this very important subject and dives into using demographics to determine whether or not we are out of the recession and, more importantly, how you can use the data to benefit your business.
Who is Don Creech (in his own words)?:
Don Creech, President and founder of Investor Resources.
In 1965, like many of my peers, I started my career in financial services as a salesman. For the next two decades, economic and tax law changes provided a kaleidoscope of opportunities. Tax law and industry changes continually altered investors' interest in insurance products, mutual funds, cattle, real estate and deep tax shelters, equipment leasing, oil wells and cable TV. With each "opportunity" there was a new set of prospects that needed to determine what was appropriate for them. It became obvious to me that my clients needed to develop a long-range strategy rather than continually chase the current investment fad.
In 1979, I was introduced to and trained in comprehensive planning while working for a national Wall Street brokerage firm. Motivated to know more, I earned my Certified Financial Planner™ credential in 1984. Creating financial plans for clients changed my responsibilities from "selling" current investments to "focusing" on each client's greater needs. As a result, I developed stronger relationships with clients and became increasingly uncomfortable with the inherent conflict of interest whenever commissions were involved.
While meeting with peers in April of 1988, I proposed a new business model that would give the clients' needs and welfare priority over my own. I clearly explained the conflict of interest created by commissions and offered an alternative. In 1990, I created Investor Resources, Inc. to provide investment and planning strategies to clients exclusively in a "fee for service relationship."
This "fee for service relationship" supports our primary goal, which is to make a positive difference in the lives of our clients. We make ourselves accountable with a goal of helping our clients live with a sense of security and peace of mind that enhances their chosen lifestyles.
Over the years, I have worked with numerous company retirement plans. Responding to the increasing needs of plan sponsors to document a disciplined review process for their employees, I completed additional courses in fiduciary responsibilities. In 2002 I was certified as an ACCREDITED INVESTMENT FIDUCIARY™ by the Center for Fiduciary Studies in association with the Joseph M. Katz Graduate School of Business at the University of Pittsburg.
Mike Siegel interviews Don Creech on this very important subject and dives into using demographics to determine whether or not we are out of the recession and, more importantly, how you can use the data to benefit your business.
Who is Don Creech (in his own words)?:
Don Creech, President and founder of Investor Resources.
In 1965, like many of my peers, I started my career in financial services as a salesman. For the next two decades, economic and tax law changes provided a kaleidoscope of opportunities. Tax law and industry changes continually altered investors' interest in insurance products, mutual funds, cattle, real estate and deep tax shelters, equipment leasing, oil wells and cable TV. With each "opportunity" there was a new set of prospects that needed to determine what was appropriate for them. It became obvious to me that my clients needed to develop a long-range strategy rather than continually chase the current investment fad.
In 1979, I was introduced to and trained in comprehensive planning while working for a national Wall Street brokerage firm. Motivated to know more, I earned my Certified Financial Planner™ credential in 1984. Creating financial plans for clients changed my responsibilities from "selling" current investments to "focusing" on each client's greater needs. As a result, I developed stronger relationships with clients and became increasingly uncomfortable with the inherent conflict of interest whenever commissions were involved.
While meeting with peers in April of 1988, I proposed a new business model that would give the clients' needs and welfare priority over my own. I clearly explained the conflict of interest created by commissions and offered an alternative. In 1990, I created Investor Resources, Inc. to provide investment and planning strategies to clients exclusively in a "fee for service relationship."
This "fee for service relationship" supports our primary goal, which is to make a positive difference in the lives of our clients. We make ourselves accountable with a goal of helping our clients live with a sense of security and peace of mind that enhances their chosen lifestyles.
Over the years, I have worked with numerous company retirement plans. Responding to the increasing needs of plan sponsors to document a disciplined review process for their employees, I completed additional courses in fiduciary responsibilities. In 2002 I was certified as an ACCREDITED INVESTMENT FIDUCIARY™ by the Center for Fiduciary Studies in association with the Joseph M. Katz Graduate School of Business at the University of Pittsburg.
