What are you doing? Where do you want to be? Is your mortgage company running at full capacity? Are you happy to be sitting at work today? Are you HAPPY it’s MONDAY?
If you’re not, you should be. No, seriously, you’re too old to be sitting at your desk reading this and counting the days to the weekend. You’re counting your life away. Why not change what you’re doing? Stop with the stinking thinking and actually do something about it!
That’s easy for anyone to say. There is nothing more annoying than that person that says ” Just be happy.” I’d often like to reply thanks, I never thought of that! Thanks! I’ll try that!”. I like to call that person Captain Obvious!
OK, seriously how do you change?
Well, let’s break it down for those in the mortgage industry.
First, Take a full assessment of your operational policies & procedures across all aspects of your business to ensure they meet the requirements of the agencies. When you have your business process flowing smoothly, it takes the stress out of a lot of other areas and off of a lot of other people.
Next, review your human resources department; Culture, Staffing Experience, P&Ps, Training, Metrics, and Behavior Assessment Review. A lot of times if culture isn’t properly formed within a company it can cause low morale, high staff turnover and even a drop in revenue.
Lastly, don’t do it alone. Reach out to your staff. Have a company-wide meeting and see whats going on. You are probably not the only one that feels like things need to change.
If all that doesn’t work ( here comes the shameless plug) call TMS-Advisors. We’ll come in and shake it up for you and get you saying “THANK GOD ITS MONDAY”.
Seriously, Kick-Ass. Everyday.
Pour your favorite morning beverage and join the Breakfast Club every morning, as we discuss the topic of the day. Join us as we talk, chat and provoke your thoughts on a new lending subject daily. So sit back in your chair around the virtual roundtable and share your thoughts with us.
In the mortgage industry, it is easy to replicate a lot of things. It’s a pretty cut and dry business with a lot of rules and regulations that have to be followed. If you’re a new mortgage company trying to be successful, you would want to follow the biggest and most reputable companies out there, read their startup story, feel inspired and follow them every step of the way. That should work right?!?!
Wait…why isn’t it working????
Well grab your morning liquid and join us…The Breakfast Club. Welcome to our virtual roundtable!
Here is our discussion today on what you can replicate and what you cannot from the most successful mortgage companies.
Beth’s opinion is that you can probably copy a process, but you’ll never be able to replicate someone’s talent. Her advice is to find your purpose and just go for it. You can’t take someone else’s mission and create your dream. Everybody’s why is unique and cannot be replicated.
Scott says that you can copy a system. Meaning how to use the processes like POS, LOS and accounting. What you can’t copy is their culture. Meaning, how you treat your clients and staff. Scott has coached many teams over the years and relates starting a mortgage business to playing a sport. When you’re playing an individual sport like wrestling you don’t have to conform to any technique or “share the ball” with anyone. That match is dependent on you and you only. Well, when you open your business you have created a team. You are no longer just one person doing it all. So you have to play that way. You have to conform to your team, BUT you have to bring out their talent within a team. That’s what a mortgage company should do. No business is ONE person. The skill comes from your team, and nobody can replicate that.
David’s words of wisdom are “Stop it all together.”He believes in people. The best leaders learn how to draw out the talent in their staff. They blame everyone else instead of investing in what they have. CEO’s will say “ Well if I only had a decent staff….that’s why XYZ Company is doing well. They have staff like we will never have.” Well, they have those employee’s because they have invested in their team. They have trained them. They have stayed late and worked through hard deals with them and taught them how to be what and who they are today. Teach them and then show them how to act on what they have learned.
Stephanie’s advice is pretty plain and simple. Listen. Don’t talk. Watch successful people. Look at their mannerisms. Watch how they deal with situations. Look at what systems they have put into place. Find out their why. Find out what drives them. You’re probably thinking “GREAT! Then copy everything they do and BAM! I have a multimillion dollar company?!?” Nope. Guess what? You cannot copy any of that. What you can do is ask YOURSELF those questions. Mannerism – Are you too hyper during client consultations and maybe you should be calm and listen? Dealing with situations – do you need to stop and work out a plan instead of flipping out? Why are YOU here? What motivates YOU to read an article like this?