There are too many companies that are so afraid and beaten up that they’re in a batten-down-the-hatches mode. Progress by its very nature means doing something different. Correct use of technology is one way to progress, but it has to be coupled with sound business strategy. What’s the right mix of technology and strategy to ensure success in the current difficult mortgage market? How does a company get over the fear of moving beyond old processes that may seem familiar? Sometimes that’s hard.
There’s a saying that history predicts the future. However, if you live by that adage your future will always be the same as your past. Rather, you need to use history to reshape the future. In my view there are four steps that lenders can employ in order to grow and progress.
1. Growth Is Always Possible. Right now is the ideal time for growth, in fact. In a difficult economy, and there’s no question that the economy is brutal, the protect-and-preserve mentality is comfortable, but that won’t lead to you getting new customers and growing your business. If you have the mindset that growth is possible, you can get better returns now vs. any other time in history.
2. Create A Vision. How do you grow? You first need to know who and what you are and what you want to become. Unless you have a vision, you’ll become tomorrow what you were yesterday. Further, you need to have a vision that is free from the limits of fear. Once you have that vision it’s important to communicate that to others in your business.
3. Establish A Focused 40 Every Day. This is mentally tough, but critical. What is a focused 40? You need a focused period of 40 minutes every single day where you will have no agenda outside of thinking of new ways to achieve your vision. You need a strategy to get to your vision. During this time you need to hole yourself up in your office and have no interruptions. Also, you need to document everything that comes up during those 40 minutes. Some of these focused 40s may not result in much, but eventually ideas will come. Remember, you need to be consistent in order to formulate a plan to achieve your vision.
4. Take Action. Thinking is great, but thoughts alone won’t bring about results. Resist the fear of trying something new. You also need to resist the fear of failure. Act on your plan and you can truly achieve your vision.
By doing these four things you can really make your vision a reality. Together these four steps will help you progress. It may seem simple, but it takes work. Here at Cogent Road we haven’t taken a dollar of investment money. We succeed because we have products that customers want to buy. We’ve attained our vision and will continue to improve the mortgage space by delivering technology to help lenders innovate.
Posted by Caped Crusader 
