Dear Loan Officer,
As some of you may know, each week I get a chance to roundtable with some of the top mortgage thinkers and producers from around the country. We recently had a profound discussion about identifying key components of how a Billionaire thinks.
Jeff Bezos recently increased his net worth by $13 Billion in one day. ONE. DAY. As we’re having record months and years in the mortgage industry, and perhaps making the most income of our careers, how may we adopt some of the tools that our wealthy counterparts employ? Follow the below points (or click play on my video as you work!)
1. Billionaires constantly develop their mindset. They’re big dreamers and thinkers. In today’s environment, it may be stressful with how much production you’ve got, but how are you continuing to think really big? Aim to play the long game; I know you’re keeping your head down to maintain the sea of loans, but how are you looking 2-3 steps ahead?
2. They increase their risk bearing capacity. Consider where you are willing to take on more risk? I have mortgage advisors on my team that I’m currently helping to hire more team members. How can we bring on a new team member, and make them adaptable to change? The best team player is able to shift when the market shifts, and this avoids having to constantly hire/fire during the market swings.
3. They have a healthy perception towards failure, and fail fast. Be OK with failure. Early failure is more critical than early success, because it forces you to improve. The most successful among us typically have weathered significant amounts of failure.
Which Billionaire quality resonates with you the most? Which avenue of your business might you be able to increase your risk tolerance for?
