Standing out means knowing the market -- and yourself

Susan J. Frost, president, Alliance Mortgage and Marketing

As published in Scotsman Guide's Residential Edition, May 2010.

As you may know, the worst place to be in a stampede is in the middle. If you're in front, you can see what's ahead. If you're in back or on the side, you can drop away quietly and with minimal damage. But if you're in the middle, you most likely will be trampled.

Despite this knowledge, many intelligent business professionals find themselves in the middle of the pack. In today's challenging mortgage climate, having a business plan may not be enough to position yourself as a front-runner. If you'd like to become an industry leader despite a contracting lending climate, regulatory changes and economic uncertainty, the following six tips can help.

1. Know yourself

To reach your highest level of success, you must know your strengths and weaknesses, likes and dislikes, and goals and accomplishments. The best leaders display compelling modesty and unwavering professional will. They are diligent and willing to learn. They take responsibility for their actions and for what needs to be done, and they're driven by results.

All mortgage brokers have the potential to be great. The question becomes: At what can you be great? Your chances of success increase if you know your passion and at what you succeed.

2. Define your mission

It's critical to establish a mission statement and business plan that guide your efforts. Try not to let every enticing opportunity distract you. If you do, you run the risk of losing focus.

Your mission statement should keep you on task and drive your efforts toward your primary goals. You can develop your mission statement by studying the market and determining what consumers need. Examples include affordable monthly payments, great service and trustworthy advice.

Your business plan can bend to a point, but your mission statement should stay true to your ultimate goals. It also should embrace your inspiration.

3. Be inspired

Inspiration stands at the heart of success. It should drive you and deliver momentum to everything your company does. The greatest leaders use inspiration to push their mission forward. Their employees, in turn, find inspiration in a purposeful mission in which they can believe.

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