As published in Scotsman Guide's Commercial Edition, March 2010.
As a mortgage professional, you may have felt alone, stranded or lost many times in the past year. I know I have. But don't panic. After all, one of the main reasons people die when lost in the woods is panic. And when it comes down to it, survival in the business world in many ways doesn't differ from survival in the woods, desert, tundra or any other remote and rugged location. With that in mind, adventurer Bear Grylls (inset photo)can be considered one of the best business coaches around.
For those who don't know, Grylls is famous for his television series "Man vs. Wild." He's also one of the most-extreme swashbucklers walking our planet, which he proves by inserting himself into life-threatening situations to teach others how to survive.
I came across Grylls' show a couple of years ago and became mesmerized by the guy — a real-life MacGyver. Grylls can make a shelter out of leaves, a raft out of trash and bones, and a meal out of some of the least-appetizing plants and animals on earth.
As a fan of his show, and as a deeply invested and committed mortgage broker, I began to wonder how Grylls' rules of survival might apply to my life. As I watched the show more, I listened carefully, took notes, and sought parallels between surviving in the wild and surviving mayhem in the mortgage market.
If Grylls were here, this is what I think he would tell us to do:
1. Stop and get your bearings. The first thing to do when you find yourself lost and feeling overwhelmed is to stop and figure out where you are to the best of your ability. For mortgage brokers, this could mean spending a little extra time reading industry news and trying to understand market trends. For me, it means taking a little extra time talking to my active lenders to hear their take on market conditions.
2. Plan a route back to civilization. The second thing to do is survey the landscape and chart your best path to where you want to be. When talking with banks and lenders, ask them where they see the opportunities, then look at your own practices to determine whether you can make adjustments to your business model or marketing plan.
3. Get moving. Once you figure out which way you want to go, don't waste time. Generally speaking, it's better to execute an imperfect plan than to spend time perfecting a plan you never initiate.
4. Find sustenance. You can't afford to be picky when your alternative may be starvation. Perhaps it's time to work with prospects you would normally screen out. Maybe you can find supplemental work in another industry as you rebuild your practice. Perhaps it's time to partner with others. Whatever the case, one of the most-important rules in the wilderness is to get some nutrition.
Page: 1 2 Next