More on Peter Drucker's book The Five Most Important Questions You Will Ever Ask About Your Organization. See earlier post last and this week.
Consider these questions in answering What Is Our Plan? -
1. In what areas should your organization be focused?
2. How would you define results in the future?
3. How will you measure results in the future; qualitatively and quantitatively?
4. How well is your organization using its human resources?
5. What are the goals that will enable you to achieve the desired results?
6. What are the action steps?
7. What are the target dates?
8. How will you evaluate and measure?
In the book, you'll find questions like these to drive each of the five questions home.
Essential Leadership Discipline: Following Well
Following Well simply has to be an Essential Leadership Discipline. I read more than the average person and almost never run across anything about "following" (except following on Facebook, Twitter, etc). In the last year, and I keep up with stuff like this, I've only come across writings about following on LinkedIn (one article), a website on assessments and the Bible. Nothing else, yet without followers, without following, without following done well we can't have good leadership.
The LinkedIn article was the first time I remember reading anything of substance, besides the Bible, about following. The LinkedIn article is at http://tiny.cc/gMgQM and led me to the book Courageous Follower.
I've since researched and found some other articles on following written by the Courageous Follwer author Ira Chaleff. Mr. Chaleff has written and lectured extensively about the subject.
Having said all that, maybe this is just another blind spot I've got. Maybe there is more written about the subject that I know about, but one thing I do know, following well is not something that comes easy. Everyday I hear or read about being a good leader, or developing leadership, or some such very important discipline. Yet....following, where's the discussion about this discipline? Without it being written and discussed, it will not be considered important. Are we scared to call ourselves and other followers?
Ponder the thought of how well people follow you, or you follow others. Ponder how important it is to follow well.
To that end, ponder following.
(You can find more on "following" by typing "follow" in the search for this blog)
The LinkedIn article was the first time I remember reading anything of substance, besides the Bible, about following. The LinkedIn article is at http://tiny.cc/gMgQM and led me to the book Courageous Follower.
I've since researched and found some other articles on following written by the Courageous Follwer author Ira Chaleff. Mr. Chaleff has written and lectured extensively about the subject.
Having said all that, maybe this is just another blind spot I've got. Maybe there is more written about the subject that I know about, but one thing I do know, following well is not something that comes easy. Everyday I hear or read about being a good leader, or developing leadership, or some such very important discipline. Yet....following, where's the discussion about this discipline? Without it being written and discussed, it will not be considered important. Are we scared to call ourselves and other followers?
Ponder the thought of how well people follow you, or you follow others. Ponder how important it is to follow well.
To that end, ponder following.
(You can find more on "following" by typing "follow" in the search for this blog)
SMARTS [ Sales Marketing and Representative Trait Survey ]
Quick Facts
- Based on research of personal characteristics of top performing sales representatives in multiple industries.
- Identifies characteristics important to success in both marketing and sales.
- Gives developmental suggestions for improving the skill level of individuals in sales roles.
- More Information
If you could know the likelihood of a person’s success in sales ahead of time, wouldn’t you want to know?
Selling in today’s market requires more than good hair and a firm handshake. It requires an ability to market, sell, and consult all at the same time. The internet has created droves of highly educated consumers who need direction in choosing the most appropriate products or services, but who do not want to be “sold.”
Based on solid research of top performing sales and marketing executives, the SMARTS uncovers the strengths and potential weaknesses of sales and marketing executives on either a pre-hire or developmental basis. A variation to the SMARTS is the Dealer SMARTS created from a study of characteristics that make car salespersons succeed. Using this industry benchmark, the Dealer SMARTS determines the likelihood of low, average, or high success in auto sales. The SMARTS can be benchmarked against top performers internally or an industry specific study can be undertaken.
- Will they have empathy?
- Will they recover from rejection?
- Will they communicate well?
- Are they confident?
- Will they succeed?
Strategic Hiring - What does that mean? And Why?
Dictionary.com defines being strategic as "having a plan, method, or series of maneuvers or stratagems for obtaining a specific goal or result."
Being strategic about your hiring means that you know what type of person you want, and that you have a plan to hire well. Be as purposeful with this task as you would with preparing to borrower money, or prepare for an audit, or another important task you have.
I heard someone say years ago "just hire them in masses, train them in classes and send them out on roller skates. Those that fall down, fire them!" While that might be a bit extreme, it yields heavily to the side of the truth. If, there’s any training. I’ve seen a lot of “just fill the spot.”
But, what are the real options? Can you increase your hiring results? Can you really, in an analytical manner, choose employees in such a way to insure a good job match?
And what about the individual; can he/she really determine his/her true calling? Is there really a such thing as having joy at work? Can I really enjoy my job?
Without belaboring these particular points at-this-time, yes.
Here are some highlights of strategic hiring:
1. have a process by which you hire people. This is one of your top five most important things your company does. This hits on every level; process, strategy, operations and “selling.” Don’t just make it a thing you do, nor something relegated to the HR department, some reference and background checks and a couple of interviews
a. put the process in writing
b. make it a detailed procedure, not summary
2. have a written job description that has the required qualities
a. know the JOB’s core competency factors that are needed to get the right results
b. know the core competency factors of your existing personnel
c. know the core competency factors for the position you are attempting to fill.
Note: core competency factors are -
Talents
Attitude/behavior
Specific skill sets
Knowledge
d. Insure you are closing the gaps in what is needed for the job and not filled by other team members.
3. look for someone that compliments the team of people he/she will be working with, not just “fit” in. You need to know what strengths and weakness are on the team now and insure this person adds value. If you want someone to “get along” then state that in the job description. But if you want someone that can have good productive conflict, state that also. The best qualified person has to be a good fit, and that includes being a good follower as well as leader.
4. use a good assessment tool to help determine proper job-fit. I’m not talking about just personalities, though that is important. This tool should be used not only in the pre-hiring process, but also in post hiring. All team members should have a copy of each other’s assessment. You want everyone to know each other. This should be a period-the-end, not an option.
Hiring the wrong person, or the right person but for the wrong job, is painful. It hurts a lot of people and is extremely costly; in many ways.
To that end…hire well, lead well, and follow well.
Being strategic about your hiring means that you know what type of person you want, and that you have a plan to hire well. Be as purposeful with this task as you would with preparing to borrower money, or prepare for an audit, or another important task you have.
I heard someone say years ago "just hire them in masses, train them in classes and send them out on roller skates. Those that fall down, fire them!" While that might be a bit extreme, it yields heavily to the side of the truth. If, there’s any training. I’ve seen a lot of “just fill the spot.”
But, what are the real options? Can you increase your hiring results? Can you really, in an analytical manner, choose employees in such a way to insure a good job match?
And what about the individual; can he/she really determine his/her true calling? Is there really a such thing as having joy at work? Can I really enjoy my job?
Without belaboring these particular points at-this-time, yes.
Here are some highlights of strategic hiring:
1. have a process by which you hire people. This is one of your top five most important things your company does. This hits on every level; process, strategy, operations and “selling.” Don’t just make it a thing you do, nor something relegated to the HR department, some reference and background checks and a couple of interviews
a. put the process in writing
b. make it a detailed procedure, not summary
2. have a written job description that has the required qualities
a. know the JOB’s core competency factors that are needed to get the right results
b. know the core competency factors of your existing personnel
c. know the core competency factors for the position you are attempting to fill.
Note: core competency factors are -
Talents
Attitude/behavior
Specific skill sets
Knowledge
d. Insure you are closing the gaps in what is needed for the job and not filled by other team members.
3. look for someone that compliments the team of people he/she will be working with, not just “fit” in. You need to know what strengths and weakness are on the team now and insure this person adds value. If you want someone to “get along” then state that in the job description. But if you want someone that can have good productive conflict, state that also. The best qualified person has to be a good fit, and that includes being a good follower as well as leader.
4. use a good assessment tool to help determine proper job-fit. I’m not talking about just personalities, though that is important. This tool should be used not only in the pre-hiring process, but also in post hiring. All team members should have a copy of each other’s assessment. You want everyone to know each other. This should be a period-the-end, not an option.
Hiring the wrong person, or the right person but for the wrong job, is painful. It hurts a lot of people and is extremely costly; in many ways.
To that end…hire well, lead well, and follow well.
Study to Determine Predictable Behavioral Patterns in Successful Mortgage Loan Officers
If you would like to participate in the Mortgage Loan Officer Control Group, please click here to complete the Qualification Questionnaire. The Control Group Qualification Questionnaire can also be accessed at http://www.dannylsmith.com/ or the In-the-Box blog.
This qualification process will only take a few minutes. Once you have completed the questionnaire you will be notified within a few hours if you qualify.
For more information on this study, please contact Danny Smith at 512-773-6528 or danny@dannylsmith.com.
This qualification process will only take a few minutes. Once you have completed the questionnaire you will be notified within a few hours if you qualify.
For more information on this study, please contact Danny Smith at 512-773-6528 or danny@dannylsmith.com.
How do You define "top" producing Loan Officer?
This would seem like a simple answer, and it very well might be. How about you? How do you define "top" producing loan officer? Click here to complete a short 5 question survey.
Points to Ponder on "Who is Your Customer?"
More on Peter Drucker's book The Five Most Important Questions You Will Ever Ask About Your Organization. See earlier post this week.
Drucker's Question Number 2 is WHO IS MY CUSTOMER (my all caps).
Right now, real quick....WHO IS YOUR CUSTOMER?
Chances are you stumbled and answered it at least partially wrong. Who is typically treated as the customer is never the only customer and an attempt to satisfy that customer only leads to poor performance. Drucker writes in the book at length about the second type of customers, or supporting customers. They are all people that have the ability to cause you rejection.
Side note from the book; this goes along with another point I've made about the key salesperson being the one delivering the service.
Back to the book, and remember this revision has been edited by Jim Collings and others: "if Peter Drucker wer alive today, he would amend his ovservation from 40 years ago, when he said, "the purpose of a companyis to create a customer." Today he would say, "the best companies don't create customers. They create fans." He would say that it is less important to report better profits this year than to check on whether you improved your shar of the customer's mind and heart this year.
Everyone, every team, every company, every manager, every executive every board must do a better job of understanding who the customer is and how to create fans of those customers.
Note we aren't talking about "know your customer." That's different that "know who your customer is."
While the org chart can be top-down, or inverted, or sideways, it doesn't matter unless everyone understands and accepts who the customer is FIRST. Take the time, it matters.
Keep this out in front, right along with your mission statement. Know your mission, know who your customer is.
To that end.....
Drucker's Question Number 2 is WHO IS MY CUSTOMER (my all caps).
Right now, real quick....WHO IS YOUR CUSTOMER?
Chances are you stumbled and answered it at least partially wrong. Who is typically treated as the customer is never the only customer and an attempt to satisfy that customer only leads to poor performance. Drucker writes in the book at length about the second type of customers, or supporting customers. They are all people that have the ability to cause you rejection.
Side note from the book; this goes along with another point I've made about the key salesperson being the one delivering the service.
Back to the book, and remember this revision has been edited by Jim Collings and others: "if Peter Drucker wer alive today, he would amend his ovservation from 40 years ago, when he said, "the purpose of a companyis to create a customer." Today he would say, "the best companies don't create customers. They create fans." He would say that it is less important to report better profits this year than to check on whether you improved your shar of the customer's mind and heart this year.
Everyone, every team, every company, every manager, every executive every board must do a better job of understanding who the customer is and how to create fans of those customers.
Note we aren't talking about "know your customer." That's different that "know who your customer is."
While the org chart can be top-down, or inverted, or sideways, it doesn't matter unless everyone understands and accepts who the customer is FIRST. Take the time, it matters.
Keep this out in front, right along with your mission statement. Know your mission, know who your customer is.
To that end.....
Points to Ponder on Personal or Company Mission Statements
Jim Collins and a few other notables penned an update recently on Peter Drucker's book The Five Most Important Questions You Will Ever Ask About Your Organization.
I've talked and written about this book in the past but will repeat myself over the next few days. This is just plain good stuff and good stuff needs to be repeated. I believe it was C.S. Lewis that said a book isn't really read unless it is re-read.
1st, today....Mission Statements. Drucker said it well; a mission cannot be impersonal. It has to have deep meaning, be something you believe in – something you know is right. A fundamental responsibility of leadership is to make sure that everybody knows the mission, understands it, and lives it.
Drucker went on to say that it needed to be short, sharp, focused and should fit on a T-shirt. My personal mission statement is much bigger than that (I guess it depends upon the size of the shirt), but it also flows into my vision, or plan.
Mission statements should rarely, if ever, change. Visions, like our eyesight, does change. I've had two mission statements presented to me in the past week that, while well thought out and well written, were much more than a mission, but a plan, values, and other things all rolled in. It is hard to fulfill such.
The mission says why you do what you do, not the means by which you do it. The mission is broad, yet directs you to do the right things now and into the future regardless of the path and circumstances. The mission statement must be clear and precise.
From the book - Every truly great organization strives to preserve the core mission, yet stimulate progress. The core mission remains fixed while operating practices, cultural norms, strategies, tactics, process, structures, and methods continually change in response to changing realities. It is the glue that holds an organization together as it expands, decentralizes, globalizes, and attains diversity......In fact, the great paradox of change is that the organizations that best adapts to a changing world first and foremost know what should not change. They have a fixed anchor of guiding principles around which they can more easily change everything else. They know the difference between what is truly sacred and what is not, between what should never change and what should always be open for change, and between “what we stand for” and “how we do things.....Never subordinate the mission in order to make money. If there are opportunities that threaten the integrity of the organization, you must say no. Your mission provides guidance, not just about what to do, but equally about what not to do.
Whether I'm coaching an individual or a team, one of my key Path Points is - keep "What is our mission?" in front of you throughout the self-assessment process. Whether developing the plan, or identifying customers, or considering correction of a major blunder....
.......keep the mission statement out in front at all times.
To that end.....
I've talked and written about this book in the past but will repeat myself over the next few days. This is just plain good stuff and good stuff needs to be repeated. I believe it was C.S. Lewis that said a book isn't really read unless it is re-read.
1st, today....Mission Statements. Drucker said it well; a mission cannot be impersonal. It has to have deep meaning, be something you believe in – something you know is right. A fundamental responsibility of leadership is to make sure that everybody knows the mission, understands it, and lives it.
Drucker went on to say that it needed to be short, sharp, focused and should fit on a T-shirt. My personal mission statement is much bigger than that (I guess it depends upon the size of the shirt), but it also flows into my vision, or plan.
Mission statements should rarely, if ever, change. Visions, like our eyesight, does change. I've had two mission statements presented to me in the past week that, while well thought out and well written, were much more than a mission, but a plan, values, and other things all rolled in. It is hard to fulfill such.
The mission says why you do what you do, not the means by which you do it. The mission is broad, yet directs you to do the right things now and into the future regardless of the path and circumstances. The mission statement must be clear and precise.
From the book - Every truly great organization strives to preserve the core mission, yet stimulate progress. The core mission remains fixed while operating practices, cultural norms, strategies, tactics, process, structures, and methods continually change in response to changing realities. It is the glue that holds an organization together as it expands, decentralizes, globalizes, and attains diversity......In fact, the great paradox of change is that the organizations that best adapts to a changing world first and foremost know what should not change. They have a fixed anchor of guiding principles around which they can more easily change everything else. They know the difference between what is truly sacred and what is not, between what should never change and what should always be open for change, and between “what we stand for” and “how we do things.....Never subordinate the mission in order to make money. If there are opportunities that threaten the integrity of the organization, you must say no. Your mission provides guidance, not just about what to do, but equally about what not to do.
Whether I'm coaching an individual or a team, one of my key Path Points is - keep "What is our mission?" in front of you throughout the self-assessment process. Whether developing the plan, or identifying customers, or considering correction of a major blunder....
.......keep the mission statement out in front at all times.
To that end.....
Press Release – Nationwide study on common traits of Top Producing Loan Officers
AUSTIN, Texas (September 20, 2010) – MuRF Systems, Inc. has selected In-the-Box Development and Danny Smith to manage their nationwide Mortgage Loan Officer SMARTS project. In-the-Box Development/Danny Smith will be working with leders nationwide in the selection of 125 career loan officers to participate in the control group. From this control group, MuRF will develop the Mortgage Loan Officer Sales Marketing and Representative Traits Survey (MLO SMARTS).
“I have been using assessments for 15 years to help build profitable and well-functioning teams that enjoy working together,” said Danny Smith. “In 1992 I started looking at commonalities in loan officers and using assessments in 1995 to help pinpoint what made a good loan officer and what made an average loan officer better. This is going to be an incredible experience and I look forward to the end result and how we’ll use the MLO SMARTS to improve funding levels, teamwork, and have some fun along the way.”
MuRF Systems, Inc is an industry leader in organizational and people development with more than 30 years of research backing up its tools. In-the-Box Development is owned and operated by Danny L. Smith. Danny has 26 years experience in mortgage lending with 15 years of specific experience building high producing retail and wholesale loan production teams.
With the use of the MLO SMARTS, mortgage companies will have a pre- and post- hiring tool to assist in obtaining their best loan funding volumes. The MLO SMARTS tool will benchmark existing and candidate mortgage loan officers against the commonalities of top producers and places the individual into one of three categories. The employer will then have additional information to assist in the hiring of the individual and/or giving developmental suggestions for improving the skill level of individuals in loan origination roles.
Inquiries into this limited participation project are welcome. Loan officers and managers that have loan officers they would like to be part of the control group should contact Danny Smith at danny@DannyLSmith.com or 512-773-6528.
Why Will the TAMP State Convention Double Twice?
I predicted last week that the 2012 TAMP state convention will be 4 times the size of 2010 and would like to be clear; 2012 will be 4 times the size of 2010 in the number of exhibitors and overall attendance. It will be much larger than that in the number of mortgage brokers in attendance.
This prediction got my phone ringing and I'll explain why I made that prediction;
1. FHA has eliminated the requirement to be approved by FHA to originate FHA loans; huge savings in time and money (no financial audits)
2. While the jury is still out on much of this, LO compensation changes will very likely be easier to handle in some ways with smaller firms.
3. Loan quality has increased significantly by most standards; trust but verify is being done in a rapid and robust manner.
4. Reports are being published that wholesale lending is showing a better profit.
5. Larger firms are trying to increase market share and wholesale channels are less expensive.
6. Smaller profit margins
7. The good old free-enterprising-entrepreneur-spirit is alive and kicking
History has always shown that business types are cyclical and we, Americans, always move back towards small, low overhead shops.
There are some differences this time around including the fact that many of the medium sized retail lenders started out as small companies and know the spirit I'm referring to. Also, the make-up of the wholesale business will be different with more mini-correspondent types and such, but wholesale will grow substantially. The playing fields will be leveled and the winners will be those that offer TRUE competitive advantages to the loan officers.
To that end.....
PS...and this will bring more people to the 2012 convention
This prediction got my phone ringing and I'll explain why I made that prediction;
1. FHA has eliminated the requirement to be approved by FHA to originate FHA loans; huge savings in time and money (no financial audits)
2. While the jury is still out on much of this, LO compensation changes will very likely be easier to handle in some ways with smaller firms.
3. Loan quality has increased significantly by most standards; trust but verify is being done in a rapid and robust manner.
4. Reports are being published that wholesale lending is showing a better profit.
5. Larger firms are trying to increase market share and wholesale channels are less expensive.
6. Smaller profit margins
7. The good old free-enterprising-entrepreneur-spirit is alive and kicking
History has always shown that business types are cyclical and we, Americans, always move back towards small, low overhead shops.
There are some differences this time around including the fact that many of the medium sized retail lenders started out as small companies and know the spirit I'm referring to. Also, the make-up of the wholesale business will be different with more mini-correspondent types and such, but wholesale will grow substantially. The playing fields will be leveled and the winners will be those that offer TRUE competitive advantages to the loan officers.
To that end.....
PS...and this will bring more people to the 2012 convention
Counterfeit Credibility
A former employee of mine used to talk about people's passive-agressive behavior and I had the hardest time getting a grip on what he meant. I'd ask him what he meant and typically get a clinical answer until it hit me that it was saying one thing and then doing something else. Ha. I thought that was lying! Or just plain bad behavior and a lack of credibility. I'm a plain English type guy and either someone has credibility, or they don't. They're either lying, or telling the truth. Right? Covey, in his book Speed of Trust, introduces the Four Cores of Credibility; Character, Competence, Intent and Results and I pound these out in my training and coaching. We'll cover these four cores in the coming weeks, but first, what does Counterfeit Credibility look like?
Credibility, or lack of, shows up most in behaviors.Googling counterfeit brought up over 7 million hits and credibility 948,000. Counterfeit means; made in imitation so as to be passed off fraudulently or deceptively as genuine; not genuine; forged: counterfeit dollar bills. Pretended; unreal.
Credibility means; capable of being believed; believable: a credible statement. Worthy of belief or confidence; trustworthy: a credible witness.
So, Counterfeit Credibility is when one's credibility, or credible statement, or credible witness is an imitation, deceptive, not genuine, and deceptive.
See if you recognize any of these counterfeit behaviors in yourself or those around you:
To that end....
Credibility, or lack of, shows up most in behaviors.Googling counterfeit brought up over 7 million hits and credibility 948,000. Counterfeit means; made in imitation so as to be passed off fraudulently or deceptively as genuine; not genuine; forged: counterfeit dollar bills. Pretended; unreal.
Credibility means; capable of being believed; believable: a credible statement. Worthy of belief or confidence; trustworthy: a credible witness.
So, Counterfeit Credibility is when one's credibility, or credible statement, or credible witness is an imitation, deceptive, not genuine, and deceptive.
See if you recognize any of these counterfeit behaviors in yourself or those around you:
- Technically telling the truth
- Legally splitting hairs
- Spinning the real issues
- Withholding information (well, they didn't ask the right question)
- Hidden motives and agendas (arg, I know you aren't supposed to hate, but I seriously can't stand this one)
- Passive-aggressive behavior
- Being driven by circumstance and not conscience
- Being two-faced; pretending to care
- Pretending to pay attention
- Being busy to look busy and not getting results
- Not accepting the blame when it is your fault
To that end....
Book of The Month:Week 3 Highlights of "If You Want to Walk on Water, You've Got to Get Out of the Boat" by John Ortberg
Chapter 4: Walking on Water
Chapter 5: Seeing the Wind
- Is it worth the risk?
- God really will honor truth-telling
- If I am going to experience a greater measure of God's power in my life, it will usually involve the first-step principle. It will usually begin by my acting in faith-trusting God enough to take a step of obedience.
- Faith is not the sort of thing that can be acquired by trying harder
- A great story told by Martin Luther on page 81
- We might be comfortable in our current job, but anxious about the possiblility that God wants to do some vocational realignment
- The indicator of fear
- The Indicator of frustration
- The Indicator of Compassion
- The Indicator of Prayer
Chapter 5: Seeing the Wind
- Resilient People Exercise Control Rather Than Passively Resign
- Resilient People Remain Committed to Their Values When Tempted to Compromise
- Resilient People Find Meaning and Purpose in the Storm
- Study questions that sticks out for me -
- What role have problems played in your growth in the past?
- How, with regard to a particular problem, could you move from passivity to exercising control and initiative?
Experience or Opinions
I got a phone call this morning asking my opinion about the something.
Instead, I shared some experiences on the subject and then went on give thoughts, errrrr...opinions.
When considering someone's advice, be sure you understand the difference between experience and opinions and whether you are getting what you believe you are getting. We all have opinions but are they really worth much? Not really. Most are just thoughts birthed from someone's idea of "if I were in control...." or "if they asked me..."
Sam Elliot's character in an old Louis L'Amour movie told this hot-shot young gunman, who was trying to draw out an older gunman, "son, do you see those wrinkles on his face? Those are miles and miles of hard work and more killings than he cares to remember. Do you really want to take on that experience when all you really have is some far-fetched opinion of how good you really are? Are you willing to bet your life on that opinion?"
Well, Tyrell Sacket (Sam's character) said it much more elequently!, but it was something like that.
Give me someone that has been down the path and stumbled, or fallen, gotten back up and ran the good race and won, or lost. Those experiences are worth something.
Opions are ok I guess, but be sure you know what you are getting.
Evaluate and correct your information.
To that end.....
Danny L. Smith
Instead, I shared some experiences on the subject and then went on give thoughts, errrrr...opinions.
When considering someone's advice, be sure you understand the difference between experience and opinions and whether you are getting what you believe you are getting. We all have opinions but are they really worth much? Not really. Most are just thoughts birthed from someone's idea of "if I were in control...." or "if they asked me..."
Sam Elliot's character in an old Louis L'Amour movie told this hot-shot young gunman, who was trying to draw out an older gunman, "son, do you see those wrinkles on his face? Those are miles and miles of hard work and more killings than he cares to remember. Do you really want to take on that experience when all you really have is some far-fetched opinion of how good you really are? Are you willing to bet your life on that opinion?"
Well, Tyrell Sacket (Sam's character) said it much more elequently!, but it was something like that.
Give me someone that has been down the path and stumbled, or fallen, gotten back up and ran the good race and won, or lost. Those experiences are worth something.
Opions are ok I guess, but be sure you know what you are getting.
Evaluate and correct your information.
To that end.....
Danny L. Smith
Sr. Mortgage Loan Officer
Certified
Guerrilla Marketing CoachTM
Impact Leadership Coach
NMLS #138873
Impact Leadership Coach
NMLS #138873
Phone:
512-773-6528
Fax:
512-551-0006
Email Reply to Top 10 Business Start-Up Mistakes
Posted with permission
Danny:
This is a great list, and coming off these past 90 days I see way too many violations of this list to be comfortable talking about them! Honestly, for most entrepreneurs I think that number one thing that you should do before launching any new business is try to talk yourself out of it!
That may sound very negative at first blush, but for those who have been self-employed or started their own company, they may readily agree with me. I think there are a great number of people who have wonderful business ideas—but that does not necessarily mean that they should start their own business. Many times (and I think more often than not) they should follow the strategies of Seth Godin and become a Linchpin in either their own organization or one that will support and promote Linchpin type personalities. This was the same practice that Napolean Hill encouraged in the venerable classic, Think And Grow Rich.
If one were to look at their great business idea and first try to vehemently talk themselves out of launching it as a new business, they will find themselves in one of four camps:
1. They Flirt: They toy with the idea of bringing a great idea to market and they exaggerate their success in their mind, never giving due diligence to the planning, developing and laboring—and they eventually fold.
2. They Fall Back: The risk of failure becomes too great and the individual retreats to more secure employment. These individuals are not likely to ever step out into a business venture and may even curse the brilliant ideas running through their head, seeing them as a distraction or a temptation.
3. They Flourish: They realize the merit and value of their idea, while simultaneously acknowledging their character is not designed to “carry the load” of a new business. These will seek to fortify and enrich the company they work for; They look for good soil in which to plant their ideas where it can be cultivated, nurtured and harvested.
4. They Follow Through: They realize that the pain of not turning their idea into their own business is far greater than staying where they are. After much searching, these individuals discover that they “must” give birth to their idea or “they die.” These are the ones who bring us FedEx, Microsoft, Apple, UNIX, McDonalds and the like.
While not every businessman who finds themselves in camp #4 will become a household name, it is certainly true that until you realize you’re at #4, there will be some obstacle lying in wait that will eventually succeed in taking you out. Those that find themselves at #4, find that owning a business for them is like water to a fish or like wind for a bird.
It has taken me many years and many failures to realize what I have known for a very long time: I am not in camp #4! However, I don’t think that list is necessarily progressive in nature—when you put numbers on a list, people suddenly decide they have to be the best or the biggest! I don’t think people go from #1 through #2 and #3 until they reach #4. I think these are just the places that we find ourselves in as we examine our career plans and work interests. Some people quite simply will never start their own business. I know way too many people like this and they literally get sick to their stomach at the thought of not having a “job.” While the exact opposite is true for those who find themselves in camp #4.
I think the key thing to realize is that great business ideas come to us all the time, but it doesn’t necessarily mean that we should strike out on our own. I think society puts way too much stock in “the next big thing.” From American Idol, to the Powerball Lottery, to Hollywood, we’re all hoping for our time to shine; our 15 minutes. If we realize that some of our great ideas are perfectly fit and designed for the place where we already work, then we may find that our rewards are even greater than striking it rich, putting up an IPO, or bigger bonuses. Doing what we’re called to do may prove to be the best reward yet!
Mike Grigsby
mwgrigs@gmail.com
Danny:
This is a great list, and coming off these past 90 days I see way too many violations of this list to be comfortable talking about them! Honestly, for most entrepreneurs I think that number one thing that you should do before launching any new business is try to talk yourself out of it!
That may sound very negative at first blush, but for those who have been self-employed or started their own company, they may readily agree with me. I think there are a great number of people who have wonderful business ideas—but that does not necessarily mean that they should start their own business. Many times (and I think more often than not) they should follow the strategies of Seth Godin and become a Linchpin in either their own organization or one that will support and promote Linchpin type personalities. This was the same practice that Napolean Hill encouraged in the venerable classic, Think And Grow Rich.
If one were to look at their great business idea and first try to vehemently talk themselves out of launching it as a new business, they will find themselves in one of four camps:
1. They Flirt: They toy with the idea of bringing a great idea to market and they exaggerate their success in their mind, never giving due diligence to the planning, developing and laboring—and they eventually fold.
2. They Fall Back: The risk of failure becomes too great and the individual retreats to more secure employment. These individuals are not likely to ever step out into a business venture and may even curse the brilliant ideas running through their head, seeing them as a distraction or a temptation.
3. They Flourish: They realize the merit and value of their idea, while simultaneously acknowledging their character is not designed to “carry the load” of a new business. These will seek to fortify and enrich the company they work for; They look for good soil in which to plant their ideas where it can be cultivated, nurtured and harvested.
4. They Follow Through: They realize that the pain of not turning their idea into their own business is far greater than staying where they are. After much searching, these individuals discover that they “must” give birth to their idea or “they die.” These are the ones who bring us FedEx, Microsoft, Apple, UNIX, McDonalds and the like.
While not every businessman who finds themselves in camp #4 will become a household name, it is certainly true that until you realize you’re at #4, there will be some obstacle lying in wait that will eventually succeed in taking you out. Those that find themselves at #4, find that owning a business for them is like water to a fish or like wind for a bird.
It has taken me many years and many failures to realize what I have known for a very long time: I am not in camp #4! However, I don’t think that list is necessarily progressive in nature—when you put numbers on a list, people suddenly decide they have to be the best or the biggest! I don’t think people go from #1 through #2 and #3 until they reach #4. I think these are just the places that we find ourselves in as we examine our career plans and work interests. Some people quite simply will never start their own business. I know way too many people like this and they literally get sick to their stomach at the thought of not having a “job.” While the exact opposite is true for those who find themselves in camp #4.
I think the key thing to realize is that great business ideas come to us all the time, but it doesn’t necessarily mean that we should strike out on our own. I think society puts way too much stock in “the next big thing.” From American Idol, to the Powerball Lottery, to Hollywood, we’re all hoping for our time to shine; our 15 minutes. If we realize that some of our great ideas are perfectly fit and designed for the place where we already work, then we may find that our rewards are even greater than striking it rich, putting up an IPO, or bigger bonuses. Doing what we’re called to do may prove to be the best reward yet!
Mike Grigsby
mwgrigs@gmail.com
Email Reply to Top 10 Business Start-Up Mistakes
Posted with permission
Danny:
This is a great list, and coming off these past 90 days I see way too many violations of this list to be comfortable talking about them! Honestly, for most entrepreneurs I think that number one thing that you should do before launching any new business is try to talk yourself out of it!
That may sound very negative at first blush, but for those who have been self-employed or started their own company, they may readily agree with me. I think there are a great number of people who have wonderful business ideas—but that does not necessarily mean that they should start their own business. Many times (and I think more often than not) they should follow the strategies of Seth Godin and become a Linchpin in either their own organization or one that will support and promote Linchpin type personalities. This was the same practice that Napolean Hill encouraged in the venerable classic, Think And Grow Rich.
If one were to look at their great business idea and first try to vehemently talk themselves out of launching it as a new business, they will find themselves in one of four camps:
1. They Flirt: They toy with the idea of bringing a great idea to market and they exaggerate their success in their mind, never giving due diligence to the planning, developing and laboring—and they eventually fold.
2. They Fall Back: The risk of failure becomes too great and the individual retreats to more secure employment. These individuals are not likely to ever step out into a business venture and may even curse the brilliant ideas running through their head, seeing them as a distraction or a temptation.
3. They Flourish: They realize the merit and value of their idea, while simultaneously acknowledging their character is not designed to “carry the load” of a new business. These will seek to fortify and enrich the company they work for; They look for good soil in which to plant their ideas where it can be cultivated, nurtured and harvested.
4. They Follow Through: They realize that the pain of not turning their idea into their own business is far greater than staying where they are. After much searching, these individuals discover that they “must” give birth to their idea or “they die.” These are the ones who bring us FedEx, Microsoft, Apple, UNIX, McDonalds and the like.
While not every businessman who finds themselves in camp #4 will become a household name, it is certainly true that until you realize you’re at #4, there will be some obstacle lying in wait that will eventually succeed in taking you out. Those that find themselves at #4, find that owning a business for them is like water to a fish or like wind for a bird.
It has taken me many years and many failures to realize what I have known for a very long time: I am not in camp #4! However, I don’t think that list is necessarily progressive in nature—when you put numbers on a list, people suddenly decide they have to be the best or the biggest! I don’t think people go from #1 through #2 and #3 until they reach #4. I think these are just the places that we find ourselves in as we examine our career plans and work interests. Some people quite simply will never start their own business. I know way too many people like this and they literally get sick to their stomach at the thought of not having a “job.” While the exact opposite is true for those who find themselves in camp #4.
I think the key thing to realize is that great business ideas come to us all the time, but it doesn’t necessarily mean that we should strike out on our own. I think society puts way too much stock in “the next big thing.” From American Idol, to the Powerball Lottery, to Hollywood, we’re all hoping for our time to shine; our 15 minutes. If we realize that some of our great ideas are perfectly fit and designed for the place where we already work, then we may find that our rewards are even greater than striking it rich, putting up an IPO, or bigger bonuses. Doing what we’re called to do may prove to be the best reward yet!
Mike Grigsby
mwgrigs@gmail.com
Danny:
This is a great list, and coming off these past 90 days I see way too many violations of this list to be comfortable talking about them! Honestly, for most entrepreneurs I think that number one thing that you should do before launching any new business is try to talk yourself out of it!
That may sound very negative at first blush, but for those who have been self-employed or started their own company, they may readily agree with me. I think there are a great number of people who have wonderful business ideas—but that does not necessarily mean that they should start their own business. Many times (and I think more often than not) they should follow the strategies of Seth Godin and become a Linchpin in either their own organization or one that will support and promote Linchpin type personalities. This was the same practice that Napolean Hill encouraged in the venerable classic, Think And Grow Rich.
If one were to look at their great business idea and first try to vehemently talk themselves out of launching it as a new business, they will find themselves in one of four camps:
1. They Flirt: They toy with the idea of bringing a great idea to market and they exaggerate their success in their mind, never giving due diligence to the planning, developing and laboring—and they eventually fold.
2. They Fall Back: The risk of failure becomes too great and the individual retreats to more secure employment. These individuals are not likely to ever step out into a business venture and may even curse the brilliant ideas running through their head, seeing them as a distraction or a temptation.
3. They Flourish: They realize the merit and value of their idea, while simultaneously acknowledging their character is not designed to “carry the load” of a new business. These will seek to fortify and enrich the company they work for; They look for good soil in which to plant their ideas where it can be cultivated, nurtured and harvested.
4. They Follow Through: They realize that the pain of not turning their idea into their own business is far greater than staying where they are. After much searching, these individuals discover that they “must” give birth to their idea or “they die.” These are the ones who bring us FedEx, Microsoft, Apple, UNIX, McDonalds and the like.
While not every businessman who finds themselves in camp #4 will become a household name, it is certainly true that until you realize you’re at #4, there will be some obstacle lying in wait that will eventually succeed in taking you out. Those that find themselves at #4, find that owning a business for them is like water to a fish or like wind for a bird.
It has taken me many years and many failures to realize what I have known for a very long time: I am not in camp #4! However, I don’t think that list is necessarily progressive in nature—when you put numbers on a list, people suddenly decide they have to be the best or the biggest! I don’t think people go from #1 through #2 and #3 until they reach #4. I think these are just the places that we find ourselves in as we examine our career plans and work interests. Some people quite simply will never start their own business. I know way too many people like this and they literally get sick to their stomach at the thought of not having a “job.” While the exact opposite is true for those who find themselves in camp #4.
I think the key thing to realize is that great business ideas come to us all the time, but it doesn’t necessarily mean that we should strike out on our own. I think society puts way too much stock in “the next big thing.” From American Idol, to the Powerball Lottery, to Hollywood, we’re all hoping for our time to shine; our 15 minutes. If we realize that some of our great ideas are perfectly fit and designed for the place where we already work, then we may find that our rewards are even greater than striking it rich, putting up an IPO, or bigger bonuses. Doing what we’re called to do may prove to be the best reward yet!
Mike Grigsby
mwgrigs@gmail.com
Social Networking in Plain English
I read recently that Social Networking isn't about selling your wares but about helping each other out. This is a simple, but good, explanation of what it's all about -
Business Start-Up Mistakes;
I've been blogging a little about people starting their own businesses lately, but thinking much more about it and the pitfalls that comes with the exhilaration. Also, beware....the fall and winter months brings about the largest percentage of start-ups. Following @GuyKawasaki on Twitter alerted me to this version of Top 10 Mistakes.
Top 10 mistakes that entrepreneurs make when starting a company:
1. Going it alone. 2. Asking too many people for advice. 3. Spending too much time on product development, not enough on sales. 4. Targeting too small a market. 5. Entering a market with no distribution partner. 6. Overpaying for customers. 7. Raising too little capital. 8. Raising too much capital. 9. Not having a business plan. 10. Over-thinking your business plan.
Numbers 1, 3, 4, and 9 are very common and #3 and 9 screams so loud they should be tied #1. Businesses are started every day by good sales types without good business plans and then the new owner doesn't have time to sell.
Good article at Yahoo Finance.
Comments welcome via danny@dannylsmith.com or by clicking on comments below.
Top 10 mistakes that entrepreneurs make when starting a company:
1. Going it alone. 2. Asking too many people for advice. 3. Spending too much time on product development, not enough on sales. 4. Targeting too small a market. 5. Entering a market with no distribution partner. 6. Overpaying for customers. 7. Raising too little capital. 8. Raising too much capital. 9. Not having a business plan. 10. Over-thinking your business plan.
Numbers 1, 3, 4, and 9 are very common and #3 and 9 screams so loud they should be tied #1. Businesses are started every day by good sales types without good business plans and then the new owner doesn't have time to sell.
Good article at Yahoo Finance.
Comments welcome via danny@dannylsmith.com or by clicking on comments below.
Blunder: File Denied Because of Maternity Leave!!
How's this for a major blunder?
A borrower is on maternity leave and while there were possibly real problems with the file, the underwriter sent the LO an email stating she was turning the file down because "the borrower is on maternity leave and too many moms don't go back to work after having a baby."
The LO sent the email to the Realtor and borrower and added "the underwriter likes everything else about the file."
Bad to worse!
The borrower has filed a discrimination complaint based on family status with HUD. HUD has "suggested" to the lender they should pay the borrower back for the lost Earnest Money, appraisal fees, survey, inspection, and repair fees that have already been paid. In addition, they are also "suggesting" that the lender pay for 6 months of the borrowers new apartment lease and the Realtor's commissions because the borrower had already given notice at her current apartment.
I'm sure the owner and officers of this company know the correct way this should have been handled. This is a great example of not knowing what you don't know that you don't know that goes on in your company. My experience tells me it is doubtful this is not the first time this has happened and might be happening on regular basis.
So, what is the biggest problem you see that happened in this situation? What policy could have been put in place to have kept this from happening? What checks and balances should the company have to know about these type problems before they become repetitive?
You can leave your comments by click the "comments" link below.
A borrower is on maternity leave and while there were possibly real problems with the file, the underwriter sent the LO an email stating she was turning the file down because "the borrower is on maternity leave and too many moms don't go back to work after having a baby."
The LO sent the email to the Realtor and borrower and added "the underwriter likes everything else about the file."
Bad to worse!
The borrower has filed a discrimination complaint based on family status with HUD. HUD has "suggested" to the lender they should pay the borrower back for the lost Earnest Money, appraisal fees, survey, inspection, and repair fees that have already been paid. In addition, they are also "suggesting" that the lender pay for 6 months of the borrowers new apartment lease and the Realtor's commissions because the borrower had already given notice at her current apartment.
I'm sure the owner and officers of this company know the correct way this should have been handled. This is a great example of not knowing what you don't know that you don't know that goes on in your company. My experience tells me it is doubtful this is not the first time this has happened and might be happening on regular basis.
So, what is the biggest problem you see that happened in this situation? What policy could have been put in place to have kept this from happening? What checks and balances should the company have to know about these type problems before they become repetitive?
You can leave your comments by click the "comments" link below.
Mortgage Matters: TAMP 2010 State Convention in Review
It's good to come here once a year and catch up with people I don't get to see otherwise" - John McCully, Flagstar AE.
I've been to most state mortgage broker (ahhh..professional) conventions since the 1st in 1987, and this was one of the smaller in exhibitors and overall attendance. This convention, which is always on my granddaughter Cydney's birthday "weekend," has its share of memories including a few cancellations due to hurricanes and the cowardly act that brought this country together for a while at least.
I agree with John McCully, I enjoy visiting with people I haven't seen in a long time and meeting a few new ones. Much of the talk this year was about loan officer recruiting, compensation changes, DOL, and a lot of speculation about compensation and who was or wasn't going to pay their loan officers minimum wages.
Dialog at the convention always includes a quick look at the name badge to see where the other guy works now, industry changes, who's not around this year and why, and discussions about the exhibitors types. For years the exhibitors were always wholesalers, wholesalers, and more wholesalers with a few credit bureaus, doc prep companies and appraisers thrown in. Then the tech companies began showing up and at times compliance types (you knew what was going on when they started buying booth space). But we could always depend upon the wholesaler. 2010 though was year of the retail mortgage banker. A couple of pure wholesalers exhibited this year, maybe just one, but the retail mortgage bankers exhibiting and in attendance outnumbered everyone else combined.
Prediction; two years from now the convention will be four times this year's size in attendance and exhibitors. Changes. We need to keep our heads out of the sand. Just because we don't want something to happen doesn't mean it's not.
It was a good 1 1/2 days for me personally. Hopefully it was for all attending.
Head down, chin up!
Danny
I've been to most state mortgage broker (ahhh..professional) conventions since the 1st in 1987, and this was one of the smaller in exhibitors and overall attendance. This convention, which is always on my granddaughter Cydney's birthday "weekend," has its share of memories including a few cancellations due to hurricanes and the cowardly act that brought this country together for a while at least.
I agree with John McCully, I enjoy visiting with people I haven't seen in a long time and meeting a few new ones. Much of the talk this year was about loan officer recruiting, compensation changes, DOL, and a lot of speculation about compensation and who was or wasn't going to pay their loan officers minimum wages.
Dialog at the convention always includes a quick look at the name badge to see where the other guy works now, industry changes, who's not around this year and why, and discussions about the exhibitors types. For years the exhibitors were always wholesalers, wholesalers, and more wholesalers with a few credit bureaus, doc prep companies and appraisers thrown in. Then the tech companies began showing up and at times compliance types (you knew what was going on when they started buying booth space). But we could always depend upon the wholesaler. 2010 though was year of the retail mortgage banker. A couple of pure wholesalers exhibited this year, maybe just one, but the retail mortgage bankers exhibiting and in attendance outnumbered everyone else combined.
Prediction; two years from now the convention will be four times this year's size in attendance and exhibitors. Changes. We need to keep our heads out of the sand. Just because we don't want something to happen doesn't mean it's not.
It was a good 1 1/2 days for me personally. Hopefully it was for all attending.
Head down, chin up!
Danny
Bono - "....take Your American Capitalism..."
For almost an hour, much of what Bono had to say was good, really good actually, until he started talking about his country of Ireland and the similarities and differences to the US. He then made a dramatic statement, "my country of Ireland is a great country, and I love it, but here in the United States you have a certain spirit that we don't have. And you have a certain type of capitalism, American capitalism, that is not really found anywhere else. If you want to change some things across the world, including 3rd world countries, take your American capitalism spirit there. That will make the real difference." That's when his speech went from good-to-great.
Bono had never been on my radar up to that time. I knew who he was, and had listened to his music but nothing about his politics, his beliefs, or his passions. Since then I've learned more about him and have thought and talked about that statement more than a few times, but not like I have recently.
I can only surmise what is driving these thoughts on a Sunday afternoon; maybe it has to do with me expanding my consulting/coaching practice. Or maybe the fact I've been working with a few people who are talking about starting their own company. Or a combination of both. Writing a business plan, considering strategies, filing a name, a few legal papers, and a bank account......
And POOF, you have a business. The beginning of another segment of American capitalism and you don't even "have" to do that much! Entrepreneurial seizures working well.
We take this for granted. I mean, we take for granted how easy it is to just up and start a business. Thousands of people start U.S. businesses every day. Many others want to and either fear or common sense holds them back. BUT....we can. That's my point. We can.
It's not like that in most countries. We need to be aware of that and not take such things for granted.
Freedom. It's a great thing on a lot of levels.
To that end.....
Book of The Month:Week Two Highlights of "If You Want to Walk on Water, You've Got to Get Out of the Boat" by John Ortberg
My highlights
Chapter 2: Boat Potatoes
I'm assuming you get the chapter title. Ortberg has a great sense of humor and does a good job bringing real life stories into his writings. I particularly like what I call chapter sub-titles.
Here's a question Ortberg asks at the end of the chapter: In what area of life (vocational, relational, or intellectual, etc) are you experiencing the most growth these days?
Chapter 3: Discerning the Call
Read Week One
Chapter 2: Boat Potatoes
I'm assuming you get the chapter title. Ortberg has a great sense of humor and does a good job bringing real life stories into his writings. I particularly like what I call chapter sub-titles.
- the price you pay for being a boat potato...."growth"
- the tragedy of the unopened gift; It's as if I've lived half my life waiting for life to begin, thinking it's somewhere off in the future.
- the chance of a lifetime is not something to take lightly
- all human beings, including you and me, give their lives to something...the only question is, what will you give your life to? Will it be worthy?
- so many people blame their refusal to get out of the boat on some external circumstance
- I must ruthlessly refuse to compar my talents with anyone else
- I must come to identify, cultivate, invest, prize, and enjoy the gifts that have been given to me
- Fear....the author wrote a lot about what fear does to be one becoming, and staying a boat potatoe
Here's a question Ortberg asks at the end of the chapter: In what area of life (vocational, relational, or intellectual, etc) are you experiencing the most growth these days?
Chapter 3: Discerning the Call
- water-walking requires not only the courage to take a risk, but also the wisdom to discern a call.
- interesting to note that in most self-help book, risk-taking is highly praised. But in literature on psychological research, it is mostly a danger sign. Type Ts (thrill, risk seeking personalities), although they can do great things, are also more prone toward potentially destructive behaviors.
- author has good stuff on how to discern the difference between an aughentic call to get out of the boat from your own rash impulses
- calling is not so much choosing as it is listening
- calling often involves pain
Read Week One
Commonalities in Top Performing Loan Officers
I became seriously interested in commonalities in top performing people in 1992 after reading an article about the nation's Top 20 Loan Officers. The article profiled each of these men and women and it was remarkable of some of the apparent common traits, yet they were of various ages and backgrounds and while some worked with builders, others worked with Realtors and two worked solely on referrals.
What do you think makes up a Top 20 Loan Officer? What makes them tick? Do they need to be extroverted, or does in take an out-going introvert?
What skill level? How about depth of knowledge?
Click "comments" below and leave a comment!
What do you think makes up a Top 20 Loan Officer? What makes them tick? Do they need to be extroverted, or does in take an out-going introvert?
What skill level? How about depth of knowledge?
Click "comments" below and leave a comment!
"Remembering"
By Guest Blogger, Steve Heston, VP at Acxiom Corporation
“Have you forgotten how it felt that day?
To see your homeland under fire, and her people blown away
Have you forgotten when those towers fell?
We had neighbors still inside…
Have you forgotten?”
Nine years ago, we had only the oldest of The Three. Nine years ago, both my parents were still alive. Nine years ago, I had just picked up the car I finally got rid of last week. Nine years ago, we lived in a smaller house, with smaller challenges and a smaller world view.
Then came nine years ago tomorrow.
It wasn’t just an attack on buildings, airplanes and people. It was an attack on our way of life. It was an attack on the very principles and beliefs upon which America was founded.
In fact, it was an attack on freedom.
Fear is an ugly thing. Nine years ago tomorrow, they tried to make fear a primary part of the fabric of our lives and they tried to make fear an overriding aspect in our lifestyle.
Don’t be afraid, but don’t forget, either. That way, nine years from today, and nine years after that, we’ll still be the greatest country on earth, and freedom really will ring from every mountainside.
Iowa vs. Iowa State tomorrow – and when they do that pregame flyover at Kinnick Stadium – and at lots of other stadiums around the country, for that matter – some folks will remember, briefly.
Let’s remember permanently.
Oh, and make something incredible happen today.
Steve
“Have you forgotten how it felt that day?
To see your homeland under fire, and her people blown away
Have you forgotten when those towers fell?
We had neighbors still inside…
Have you forgotten?”
- Lyric from “Have You Forgotten” by Darryl Worley
Nine years ago, we had only the oldest of The Three. Nine years ago, both my parents were still alive. Nine years ago, I had just picked up the car I finally got rid of last week. Nine years ago, we lived in a smaller house, with smaller challenges and a smaller world view.
Then came nine years ago tomorrow.
It wasn’t just an attack on buildings, airplanes and people. It was an attack on our way of life. It was an attack on the very principles and beliefs upon which America was founded.
In fact, it was an attack on freedom.
Fear is an ugly thing. Nine years ago tomorrow, they tried to make fear a primary part of the fabric of our lives and they tried to make fear an overriding aspect in our lifestyle.
Don’t be afraid, but don’t forget, either. That way, nine years from today, and nine years after that, we’ll still be the greatest country on earth, and freedom really will ring from every mountainside.
Iowa vs. Iowa State tomorrow – and when they do that pregame flyover at Kinnick Stadium – and at lots of other stadiums around the country, for that matter – some folks will remember, briefly.
Let’s remember permanently.
Oh, and make something incredible happen today.
Steve
Entrepreneurial Seizures
I believe it was Michael Gerber who said "most business owners are typically just type A individuals with periodic-entrepreneurial-seizures."
Meaning, people do a pretty god job, believe (think) they can do it better than their existing company (boss) and start they're own company.
The mortgage industry's legislative changes that will change the way loan officers' are paid (and how much) plus the ability to do FHA loans without having an FHA approval is going to drive a lot of loan officers to start their own company. Those that have owned their own company before will be a bit cautious but there will be plenty of entrepreneurial seizures in the coming months and the wholesalers are starting to circle their wagons in excitement and preparedness for the influx of new business.
I know of 4 wholesalers expanding in Texas alone and there's no doubt many more. It's going to get lively.
Loan Officers, please beware of many factors in starting and running a company in today's market.
More about that in coming weeks, but what Gerber would say specifically to loan officers is something like this - "if you aren't prepared, if you don't have experience in a lot of areas, or hire that experience, you won't be originating loans and making more money. You'll be spending your time keeping books, paying taxes, dealing with authorities, and a host of other things that go into running a business. Be prepared, be purposeful, have a plan."
To that end....
Meaning, people do a pretty god job, believe (think) they can do it better than their existing company (boss) and start they're own company.
The mortgage industry's legislative changes that will change the way loan officers' are paid (and how much) plus the ability to do FHA loans without having an FHA approval is going to drive a lot of loan officers to start their own company. Those that have owned their own company before will be a bit cautious but there will be plenty of entrepreneurial seizures in the coming months and the wholesalers are starting to circle their wagons in excitement and preparedness for the influx of new business.
I know of 4 wholesalers expanding in Texas alone and there's no doubt many more. It's going to get lively.
Loan Officers, please beware of many factors in starting and running a company in today's market.
More about that in coming weeks, but what Gerber would say specifically to loan officers is something like this - "if you aren't prepared, if you don't have experience in a lot of areas, or hire that experience, you won't be originating loans and making more money. You'll be spending your time keeping books, paying taxes, dealing with authorities, and a host of other things that go into running a business. Be prepared, be purposeful, have a plan."
To that end....
AEs Wanted
National wholesale mortgage lender looking for experienced account exectutives in the following areas -
Dallas | Phoenix | Salt Lake | Denver
Please email me at danny@DannyLSmith.com for contact info.
Dallas | Phoenix | Salt Lake | Denver
Please email me at danny@DannyLSmith.com for contact info.
Mortgage: Flagstar and John McCully is Sponsoring FHA and VA Seminar
Wednesday, September 22
Hyatt Place Austin North Central
7522 I-35 North, Austin, TX 78752
Registration/Continental Breakfast: 8:30am-9am
9am-1pm
Please R.S.V.P. by Wednesday, September 15 to Dallas Support
at 800-364-1777 option 1 or dallassupport@flagstar.com
Seating is limited.
FEATURED PRESENTER -Angelo Rea, First Vice President, Flagstar Government Underwriting
Contact for more info: John McCully john.p.mccully@flagstar.com
Hyatt Place Austin North Central
7522 I-35 North, Austin, TX 78752
Registration/Continental Breakfast: 8:30am-9am
9am-1pm
Please R.S.V.P. by Wednesday, September 15 to Dallas Support
at 800-364-1777 option 1 or dallassupport@flagstar.com
Seating is limited.
FEATURED PRESENTER -Angelo Rea, First Vice President, Flagstar Government Underwriting
Contact for more info: John McCully john.p.mccully@flagstar.com
Unlocking Your Core Competency Factors
Short post about Core Competency Factors.
Your Core Competency Factors are your Talents, Attitudes, Skills and Knowledge. Much of this is seen by others in your behavior, or what some call your style.
Properly identifying these factors will help identify your strengths, weaknesses, opportunities and threats.
Proper use of good assessments can help you get better results from your Core Competency Factors.
Your Core Competency Factors are your Talents, Attitudes, Skills and Knowledge. Much of this is seen by others in your behavior, or what some call your style.
Properly identifying these factors will help identify your strengths, weaknesses, opportunities and threats.
Proper use of good assessments can help you get better results from your Core Competency Factors.
You'll be the same five years from today,
as you are today, except for what you listen
to and watch, who you hang out with,
and what you read. Be purposeful.
Book of The Month: "If You Want to Walk on Water, You've Got to Get Out of the Boat" by John Ortberg
In this blog, I'll hit highlights my highlights. Meaning, a more expanded version of my notes and highlights can be found by going to my reading blog (click).
From the Preface - There is a consistent pattern in Scripture of what happens in a life that God wants to use and improve; There is always a call / There is always fear / There is always reassurance / There is always a decision / There is always a changed life
Chapter 1; On Water Walking - Chapter's highlight (for me). Fear and being wishy-washy. Why do we not get out of the boat? For me it is fear. Fear and being unsure of God's path for me. The part about "faith or foolishness" hit home. Sometimes I don't do something I want to do because I'm afraid I'm being reckless or foolish; is this really God telling me to do something or is it just my emotions. Or, I do it but keep second guessing myself, and leaving myself a back door, or a window slightly cracked; in other words, lack of commitment.
Toilet...She Dropped Her Phone IN-THE-TOILET
It helps if people are really listening when you tell a story. I was telling my wife a story this morning about one of her loan officers dropping her phone in the toilet. As I was giving her details of how it was told to me, Cathy (my wife) look at me and said "Pardon me? Where did she drop her phone?"
I said, "Toilet."
She said, "OHHHH, I thought you said POOL and what you were saying about how she dropped it made no sense at all. No wonder you're laughing so hard."
Actually, it was the overall description of how it managed to fall in toilet, but that's another story. The point being, I'm telling a story and she assumes what I'm about to say, not really listening. How did she get POOL out of TOILET?
This happens so much, and not just with our spouses. We talk, send emails and messages, we assume our messages are being heard or read and we go on about our business; under assumptions. A client was having a hard time understanding why one of his clients wasn't making a decision to buy, called me to discuss and I reminded him about his (my client's) sales assessment (SMARTS survey) which said he needed to be more aware of his client's point-of-view. But again, another story. Point being....pay attention to what someone is saying if you want good dialog and results.
In the case of telling my wife the story, I just wanted to share a laugh with her!
Another reason that even when we're not in conflict, we need to follow the conflict rules -
1. respond, don't react
2. go to the person
3. treat the event, not the person
4. expect the best
5. see clarity, ask questions
6. talk straight and leave the right impression
7. evaluate and correct rapidly
Does pool sound anything at all like toilet? And I did say t-o-i-l-e-t. She didn't even argue with me.
I know I'm right.
To that end......
P.S. if you want to know if someone is listening, stop telling the story and see if they ask you to continue.
I said, "Toilet."
She said, "OHHHH, I thought you said POOL and what you were saying about how she dropped it made no sense at all. No wonder you're laughing so hard."
Actually, it was the overall description of how it managed to fall in toilet, but that's another story. The point being, I'm telling a story and she assumes what I'm about to say, not really listening. How did she get POOL out of TOILET?
This happens so much, and not just with our spouses. We talk, send emails and messages, we assume our messages are being heard or read and we go on about our business; under assumptions. A client was having a hard time understanding why one of his clients wasn't making a decision to buy, called me to discuss and I reminded him about his (my client's) sales assessment (SMARTS survey) which said he needed to be more aware of his client's point-of-view. But again, another story. Point being....pay attention to what someone is saying if you want good dialog and results.
In the case of telling my wife the story, I just wanted to share a laugh with her!
Another reason that even when we're not in conflict, we need to follow the conflict rules -
1. respond, don't react
2. go to the person
3. treat the event, not the person
4. expect the best
5. see clarity, ask questions
6. talk straight and leave the right impression
7. evaluate and correct rapidly
Does pool sound anything at all like toilet? And I did say t-o-i-l-e-t. She didn't even argue with me.
I know I'm right.
To that end......
P.S. if you want to know if someone is listening, stop telling the story and see if they ask you to continue.
9/03/2010: Week in the Mirror
Contract negotiations with a vendor did not start out so well; my wife says I'm too "nice," but then she changed it to wishy-washy. The thought came to mind of what a couple of coaches (Richard Balius and Joe Zente) I had 3 years ago that told me. They commented one day, in reply to my frustration, "it wasn't that I didn't have people working, heck, I had the hardest workingest group he'd ever seen." They said the problem was "clarity; those working directly with me weren't clear on what they I wanted them to be doing." They then drew a picture of a big cloud with lightening bolts and rain drops. I guess I was the big cloud and the bolts and drops were.....never mind. The contract got worked out and I continue to try hard to be clear.
The "virtual manager" I launched a few weeks ago came from my friend Brandon Dady. Brandon worked with me for a few months and saw how many people came to me with quick questions and how a service like would be extremely beneficial; find a need and fill it. Without getting too personal, one new person that came to me this week was having frustrations with her manager. There are usually faults on both sides of the problem and it was great to see her dig through the questions and considerations I gave her and ponder her own weaknesses that have led to the conflicts. She is determined to do the right thing and doesn't want to just change employers to just have the same problems all over again. That's great in-the-box work.
My new Trust-in-Sales (still working on name) seminar is about wrapped up and ready for the streets. This is culmination of previous seminars I've done; subjects include are behaviors in selling, knowing yourself to know your clients, sales processes, business plans, CRM, knowing what your attracting, social media and building a key sales team. Sales is much different today than 25 years ago. Clients are much more educated, focused and willing to change quickly. Its not just the internet, but what the internet brings to a clients' fingertips. Yet, many sales people are still trying to do the same old thing; and I argue that isn't necessarily bad, but know what your competition is doing and consider how to adjust. The initial summary clinic will be 2 1/2 hours and the entire program will be merged into a focus group type setting.
This blog was accessed over 100 times on Tuesday for the second time in a single day. As I've written and commented, social media has a definite place on any company's sales and marketing agenda and I've enjoyed testing different strategies to see what best sticks for me.
Have a great weekend.
Danny
The "virtual manager" I launched a few weeks ago came from my friend Brandon Dady. Brandon worked with me for a few months and saw how many people came to me with quick questions and how a service like would be extremely beneficial; find a need and fill it. Without getting too personal, one new person that came to me this week was having frustrations with her manager. There are usually faults on both sides of the problem and it was great to see her dig through the questions and considerations I gave her and ponder her own weaknesses that have led to the conflicts. She is determined to do the right thing and doesn't want to just change employers to just have the same problems all over again. That's great in-the-box work.
My new Trust-in-Sales (still working on name) seminar is about wrapped up and ready for the streets. This is culmination of previous seminars I've done; subjects include are behaviors in selling, knowing yourself to know your clients, sales processes, business plans, CRM, knowing what your attracting, social media and building a key sales team. Sales is much different today than 25 years ago. Clients are much more educated, focused and willing to change quickly. Its not just the internet, but what the internet brings to a clients' fingertips. Yet, many sales people are still trying to do the same old thing; and I argue that isn't necessarily bad, but know what your competition is doing and consider how to adjust. The initial summary clinic will be 2 1/2 hours and the entire program will be merged into a focus group type setting.
This blog was accessed over 100 times on Tuesday for the second time in a single day. As I've written and commented, social media has a definite place on any company's sales and marketing agenda and I've enjoyed testing different strategies to see what best sticks for me.
Have a great weekend.
Danny
Loan Officers - Pay attention to the 4 Ps and Get Better Results
Results. Good results. The thing we all want is good results. Philosophers back to at least Aristotle (350 BC) have been pondering the number 1 thing a human craves and they've always decided "fun." People just want to have fun. Most of us can equate fun to results; Good Results = FUN.
I was recently asked if I felt the current market (down, money's tight) was causing problems in my coaching/consulting practice, and were people really spending money on assessments in times like these? My answer...
"No, when times are tough, people are trying harder right now to get results. Times like these causes us to dig deeper, to look harder at our strengths and abilities, and to get more out of what we already have instead of spending money on new speculations."
In my coaching and training I use what I call the 4P Path Initiate to improve results -
1. Define your Purpose: what mission are you trying to fulfill?
2. Be Prepared for the path: determine and strengthen you Talents, Attitudes, Skills and Knowledge
3. Lay out a Plan: set goals, have variances in your strategies, know your sales attraction
4. Practice your purpose, preparedness, and plan; be purposeful about what you are doing and know that everything except your Purpose needs to mature. Learn, re-cast, and change.
Preparing yourself for the path will strengthen whatever path you find yourself on and you'll be better prepared to achieve good results.
I was recently asked if I felt the current market (down, money's tight) was causing problems in my coaching/consulting practice, and were people really spending money on assessments in times like these? My answer...
"No, when times are tough, people are trying harder right now to get results. Times like these causes us to dig deeper, to look harder at our strengths and abilities, and to get more out of what we already have instead of spending money on new speculations."
In my coaching and training I use what I call the 4P Path Initiate to improve results -
1. Define your Purpose: what mission are you trying to fulfill?
2. Be Prepared for the path: determine and strengthen you Talents, Attitudes, Skills and Knowledge
3. Lay out a Plan: set goals, have variances in your strategies, know your sales attraction
4. Practice your purpose, preparedness, and plan; be purposeful about what you are doing and know that everything except your Purpose needs to mature. Learn, re-cast, and change.
Preparing yourself for the path will strengthen whatever path you find yourself on and you'll be better prepared to achieve good results.
Prepare the student for the path, not the path for the student.
Brad McCoy - Colt's Dad
To that end.....
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