The One Reason Successful Business People are Successful

by Dave Savage, CEO, Mortgage Coach

During a rejuvenating personal vacation with my family in Sonoma, California in 2006, I opened several books, but one kept my attention so much I actually found it hard to put down: The POWER of the OBVIOUS, by Aldo Papone. Papone has been a central figure at American Express for 30 years; his role has ranged over time from senior advisor to Chairman and CEO of American Express Travel Related Services.

His book is packed with valuable insight and wisdom, but one of my favorite points is a universal business truth that Aldo so eloquently documents:

“I believe that one reason successful business people are successful is because they see the difference between what is really important and what’s only distracting. Most of the issues we become obsessed with are not what really count. So what really does count in business? I think it’s obvious: What really counts is what happens when we go out into the marketplace and try to win a customer. When the customer votes with his or her wallet either in our favor or against us. That’s the only true measure of success or failure in business.”

Personally, I believe the advice above is the single most important difference between the most successful loan officers and their struggling colleagues. For years, I have preached that the difference between the most successful originators and the average ones isn’t the hours they work; in fact, in many cases, the best often work fewer hours.

The difference is that the best consistently implement best practices at the point of sale—that moment of truth when the homeowner decides if they trust and respect a loan officer. The best of the best consistently deliver advice that has tangible value to homeowners and they do it every time with every client. Average originators focus on transactions and how fast they can take an application. The most successful originators focus on winning quality relationships and are delivering service and advice that has obvious value.

While this advice doesn’t provide you with a magic wand or turnkey idea to improve your business overnight, it does offer a guiding light to reflect upon every day and throughout your career, and prompts you to ask yourself these questions:

• When I meet with a customer over the phone or in person, do I provide services that have obvious value to them?
• Do I focus on what’s really important—long-term relationship value—or do I focus on issues that are distracting from what’s most important, i.e., the short-term sale? And finally…
• Am I professionally happy and satisfied?

If the answer to any of these questions is “no”, then you need to start figuring out what is important to your success and discipline yourself to investing most of your time on the critical issues that define your “relationship” with your customers and not just the existing sale.

©2008 Mortgage Coach. Reprinted with permission.