As published in Scotsman Guide's Commercial Edition, September 2009.
Bad news seemingly flows out of our economy daily. There is some good news, however: Mortgage brokers can succeed in the recession by adopting five key entrepreneurial traits.
1. Entrepreneurs often are free to do what they want. Looking at the results, you will see that there is at least one upside to the recession: A lot of people were afraid to think outside the box to pursue their dreams. Now, they often are re-evaluating their priorities and pursuing long-dormant passions.
In fact, most of us have dreams that we are dying to fulfill "someday." If the economy forced that day upon you, it's an ideal time to take that leap and pursue your deep-rooted passions.
If you are in a job where you are happy or you are already pursuing your dreams, you still can apply the entrepreneur's unhindered mind-set to your current position.
2. They have original ideas. Entrepreneurs are never satisfied with the status quo; they always shoot for and implement new, original ideas.
Regardless of your position in the industry, you can affect those around you positively by coming up with creative solutions to their problems. Think about what new and innovative processes you can create and implement to do your job better, and you will become even more valuable to your team and clients.
Do what entrepreneurs do -- determine what you are passionate about -- and you may come up with the next big idea to come out of a recession.
3. They inspire trust. The mortgage industry as a whole has been painted in a bad light. Entrepreneurs, by virtue of fighting against the ordinary, often can instill trust where others cannot. They create new solutions to problems and tend to approach the solution from the public's point of view. The public then often rewards the entrepreneurs with trust and loyalty.
Evaluate how you look at your clients, your team and the people you contact daily. You must show them that you recognize their individual needs, create solutions to meet those needs and implement those solutions in ways that inspire trust. In other words, you should show them that you're not part of the "ordinary" picture they see.
4. They innovate. There are changes in the types of problems people now face, regardless of their industry. Entrepreneurs have a knack for addressing these dilemmas directly. In turn, this creates an unmatched sense of consumer loyalty.
In fact, entrepreneurs often see what others have seen. But they often think about it in a way that nobody has thought about it, thereby creating an innovative idea. This initiative then creates a spark of change, which leads to improvement.
Be that positive force in whatever role you are playing in the mortgage industry, and you will see huge positive changes all around you.
5. They help boost local economies. After crises and disasters such as hurricanes and floods, Americans tend to come together in their local communities. This is not any different during the current economic crisis.
In fact, in many cities across the country, locals are doing just this by refusing to buy anything unless it is from a locally owned store. Local entrepreneurs thrive in this kind of an environment.
Entrepreneurs seem to have an innate skill of discovering what people need and giving it to them in a personal way. This is the power you will hold if you apply the entrepreneurial mind-set to your career. Whatever role you have in the mortgage industry, you will help boost your local economy when you develop the skill of discovering the needs of those around you.
is the chief operating officer of www.PublishedDaily.com, a customizable online magazine, newsletter and marketing service. Nicholas is a veteran entrepreneur who specializes in inspiring excellence and helping professionals build, maintain and enhance their business relationships. Reach her at Josephine@PublishedDaily.com.