Blog

A Better Way

by

Act to find a better way, not the “right way”.

One thing that keeps LOs from taking action and getting epic results is they are waiting to find the “one right way.”

Breaking news, there isn’t “one right way.”

Keep finding a better way to talk to referral partners and borrowers, working on even better scripts and to improve your conversion rates, better ways to get more referred leads.

So get off of thinking “What’s the right way”, instead, think and work on, “what’s a better way”

So many get stuck on what’s the one right way.

Instead, work on actually doing the activity and continually work on what’s a better way to improve what you may already be doing now.

Work on doing a better way, then a better way, then a better way.  

Act, not just to do the “right way”, but on making it better, then better, then even better. 

You are acting to get feedback on the way you are doing it, then improving on that.  If you aren’t doing anything, you aren’t getting any feedback.

If you aren’t sure what to work on first, here’s my formula:

1.   What will make your first dollar first (to get positive reinforcement)

2.   What strategy will you actually complete (no judgment here)

3.   What strategy will you enjoy doing (we don’t do stuff we don’t like doing)

4.   Which strategy can you delegate out once you get it up and going with results (measured by actual loans coming in to you)

We need to be able to delegate out these things, otherwise we have created a “job” and not a “business”.  A business that is scalable!

Read more on how you can reverse engineer your dream life.

Work on being “better”, not perfect.  Searching for perfection will freeze you in your tracks from ever starting…

One more thing, a sincere thanks for letting me be part of your day today.  It’s a true honor.  Really. Book Your Complimentary Strategy Call to learn how to successfully plan out your days and make more while working less – schedule a call here.

Bad things in the mortgage business…

by

Bad things tend to happen in business because of inaction, not because of action. 

The most expensive thing in the mortgage business is COI 
(Cost Of Inactivity or Indecision).

For instance, the amount of money that LOs lose by simply not calling their database using simple “loan getting” scripts that are totally cool, the cost of not doing that activity could easily be an extra 10 loans per month.

Figure $2,000 per loan, that means that many LOs are losing $20,000 PER MONTH by simply not doing that activity.  

Think of it as paying $20K each of every month to not do that activity.

Cost Of Inactivity  (COI)…

Look, the worst case scenario is you waking up 5 years from now and you being in the same or worse financial situation that you are in now.

You spending time working on a strategy that didn’t work, or trying some consumer direct FB ads or some other strategy and not getting results isn’t a bad thing, that’s a good thing because you learn from it. 

I spent $10’s of thousands of dollars trying to go consumer direct on FB ads was something that totally didn’t work for me, but I learned from it. 

I learned what not to do.

Oh sure, we got leads, but it didn’t convert near as well as referred leads, which come to find out are actually easier (and cheaper) to get than FB or Zillow leads.

You making a video where you stuttered or didn’t look your best or didn’t have a good angle or bad audio isn’t a bad thing, it’s a good thing because you learned from it.

The bad things are the inaction, the things that you were afraid to try. 

The biggest failures are the ideas that we never took action on.

Having imperfect conversations with customers and referral partners are the good things because we all learn from them, and we can share in our FB groups for our members to other “action taking loan officers” to tweak them and get others’ ideas and results to learn and grow from. 

Just make sure you are in a group of “action takers” instead of forums of those giving opinions that never actually do anything.

Don’t fear the things that you do and don’t work out well, fear the things that you never acted on.  Those are the real failures, and you never learn anything from them.

<dropping mic and stepping off soapbox>

Talk soon.

Magic Beans for LOs…

by

The vast majority of LOs want to be sold a “magic bean” to build their business.  Virtually all the ads we all see today are proof of that. 

But you personally want to remember that smart people don’t believe in magic beans.

If you want to make serious money in a serious business, then you need to acquire some skills and knowledge, preferably from people that are actually doing, at a very high level, what you want to do.
Let’s get you hooked up with a plan, a serious plan, done by people that are seriously successful. 

Your 90 Day Plan <no charge>

…. and no magic beans included…

The Perfect Plan…

by

We learn more by taking action than by having a perfect plan.

Many of us spend all our time making a plan and get stuck on that part instead of actually doing something. 

You know, the ol’ “get’n ready to get ready” issue…

I think part of that is because we try to add too many moving parts while working on getting referrals. 

We’ve been told that we need a “funnel”, or some fancy schmancy 17 step process for bringing in new referrals / new loans, or we have to rent the GoodYear blimp and put our name up in lights…

I guess there’s nothing wrong with those things, it’s just that you may not be likely to ever actually finish them and end up wasting time and money.

What if you could get the same results, or even BETTER results, by just simple scripting?  The thing about scripting is, once you know what to say and who to say it to, you can get started right away without a bunch of moving parts (and expenses).

Understand that we learn sooooo much more by just going out and doing something, getting the objections, then working on the rebuttals.

So just get into action. 

You have to be ok with not looking perfect. 

Fast action means you will be doing imperfect action. 

But you’ll learn so much more by taking fast action that it will more than make up for the little bit of embarrassment caused by it not being perfect.

Risk looking stupid.

If you want to see some of my best scripts that have been bringing in hundreds of loans per month… month after month after month…

You can get full access on this 1-on-1 zoom meeting < no charge >.

See ya inside.

Ice Ice Baby…

by

Last week we had a couple hundred LOs learning from each other at my 2-day boot camp. One of the things we talked about during a break was…

ICE

It’s a way to determine whether or not to work on a new project. You know, working on a way to get more leads or working.

You see, there are so many “good ideas” thrown around these days, that we have to make sure we stay focused on those few things that actually work.

Here’s what ICE stands for.

Impact
Confidence
Easy

This is the filter I use to decide whether or not to start a new project.

IMPACT: Once this project is completed, what is the projected impact that the results are likely to have?

In other words, are the results of this project going to “move the needle”?

CONFIDENCE: How confident am I that I will get the desired results mentioned in the IMPACT statement?

This is actually pretty easy… assuming you are hanging out with the right people.

You see, all I have to do is see what some of our Freedom Club members are doing, look at what they are doing, then copy their actions.

When I copy what somebody is doing, I’ll get the same results.

I stay away from unvetted FB groups and such. I see some people giving all kinds of advice when in reality, they have a “struggle bunny business” themselves.

So be very careful on this one and just simply copy the winners.

EASE: How easy will it be to complete this project?

To be more precise, it’s really asking how easy it will be for my team to complete the project.

See, they have different skills than I do. Some of the things that I think are hard, they think are easy… and vice versa.

So the more complete question is, “How easy will it be FOR THE RIGHT Person to complete this project?”

I measure all of these on a scale of 1-10. For me to work on a new project, it has to rank an 8 or above on all 3 scales.

So it has to rank “8” or above on expected impact, “8” or above on my confidence in the results, and “8” or above on how easy it will be (1 being very difficult and 10 being super easy).

Put this little exercise to work and you’ll find yourself working on extremely useful projects that provide many new closed loans, and it’ll be easy to do.

We often think that massive results must always take “hard work” and “grind”.

If you find yourself grinding, it’s likely you are doing it wrong…

If you want some help on planning out a new project or help on deciding what new “loan getting” project to work on,
hit me up here and I’ll hook you up.

Click here for help with building your team