Electric Loan Officer

Category - Life Advice

The Oxymoron | How GROWTH can KILL your business

Growth versus Scale

I know it sounds completely insane, but I promise you there is a great amount of logic behind this theory. My career has slowly turned into being a “businessman” on a journey to greatness, and the medium I chose just so happens to be the mortgage business. As a Phoenix Loan Officer the majority of my business is people looking to buy homes that cannot afford to pay cash, so they finance. The number one referral source for that is through the great phoenix real estate agents that I have partnered with.

I recently sat down with an agent that I really respect, and the conversation was about how we could make each others lives more efficient and more importantly the lives of our future homeowners. The question came up multiple times about being available on weekends and evenings, it was more like “are you going to be able to work with my buyers in the evenings and the weekends”? My answer was along the lines of “if an appointment has been set with me ahead of time of course, however if it is a last minute thing we have that handled as well”. My family is important to me, and I don’t like to rob them of time spent but we have systems in place to accomodate and that leads me to my next point.

I want to introduce a concept called “scale“, it refers to when your business is increasing but you NEVER lose sight of what made you great in the first place. It has to do with putting the appropriate systems, checks, balances and the right people in place to ensure that when people catch on to your greatness and your phone starts ringing off the hook that you may continue to provide the level of service that people loved.

Growth versus ScaleMy question to the agent about this was in regards to her current loan officer, I asked what happens when they get really busy? The answer the agent gave me was that they become hard to get ahold of, they do not call my potential buyer candidates quick enough and people go elsewhere… This is the exact thing I am talking about, I have NO DOUBT in my mind that when this particular loan officer is getting busy like that you can categorize it as GROWTH, his production is better and what follows that? Bigger paychecks… Great, this is GROWTH in my book but the question I want to ask is this, do you think this not returning phone calls, and contacting clients in a timely fashion (because he is busy) is going to lead to him losing business eventually? His service levels have diminished, this was probably a good reason he was getting referred in the first place I would bet.

By scaling, you can bring on the right people, put the right systems, checks and balances in place to maintain that same level of service that made you great in the first place. To me, it’s the only way to success. My business has increased to a level that now requires a team of 4 people (including myself), at 40 hours a week each we work a total of 160 hours and with that brings more time to provide that same level of service our referral partners appreciate.

Have you lost sight of what made you great in the first place?

-Mr. Electric Himself



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Pattern Interrupt | Snap out of it

pattern interrupt

I literally thought today was going to be the last day I would walk this earth, you may laugh (heck I am now) but that thought crossed my mind many times this morning on my 6am drive to Eloy, Az to have my first encounter with sky diving. I don’t think years ago I would have built up so much fear in my mind about such an event, maybe it’s that I have a son and more to lose as I get older? I am not really too sure what the answer is, but I can tell you that I recorded a video on my iPhone telling my son how much I love him (in case I didn’t make it) and that he could create his own destiny and to never listen to the naysayers. How ironic that two seconds later Awolnation’s “Kill your heros” song plays on Pandora and the line “never let your fear decide your fate” hits home with me.

pattern interrupt This experience was unlike anything that I have ever encountered, really I cannot tell you how scared I was looking at the open sky about to jump out of this plane 13,000 feet above the desert. Since landing on the ground over three hours ago, the smile has not left my face. WOW… All of the things I made up in my head over the last two weeks since booking the jump were completely gone and now, I even wanted to go again.

They call this a “pattern interrupt”, it’s something dramatic that causes you to think differently, almost instantaneously at that. In the day to day minucia and repetition of the same things over and over habits begin to form, food doesn’t taste as good as it used to and you don’t feel as full of life as you once may have, your energy levels become low.. This is the pattern you must learn how to interrupt. How many times have you let your fear decide your fate? I mean, that is a deep question but how many times have you not picked up the phone to call a potential client in fear of how they would judge you or that maybe they would reject you. But let me ask you, how many times is that prospective client WAITING for someone like you to pick up the phone and call them?

This pattern interrupt, my skydiving experience, that I made up all of these crazy stories in my head about turned out to be completely opposite of what I thought, my pattern was interrupted and in a great way. I am alive, and feel more confident than I did before and that in my book is a WIN.

So ask yourself what things have you made up in your head that have prevented you from getting what you wanted to get?