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To Grow Your Mortgage Business, Think Like an Entrepreneur

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While there are certainly plenty of tips and tricks out there to help grow your business, often some of the most effective strategies are about your mindset. One of the most powerful mindsets that can help mortgage professionals excel is that of an entrepreneur. These innovative professionals know how to build thriving businesses and evolve with the market. Loan officers who approach their business from an entrepreneurial perspective can often better spot opportunities for growth and success. Here’s what that looks like in practice:

Commit to Your Vision

Entrepreneurs need a vision. They’re in control of what they want to achieve and how they plan to get there. They’re not looking to a boss or a company to set the goals. This isn’t about having a boss or not, though. It’s about taking ownership of your work and defining a vision for what success looks like to you. It’s that vision that drives the motivation and willpower necessary to grow a successful business.

Experiment

Entrepreneurs are masters at experimentation. Whether it’s developing a new product or trying out a new marketing strategy, these professionals are open minded and eager to try new things. Rather than being tied to every experiment being a success though, these professionals realize that there’s usually a bit of risk involved and that, regardless of the outcome, there’s an opportunity for learning. An experiment that doesn’t go as expected isn’t a “failure”, it’s a chance to learn something new and go back to the drawing board.

Network

Entrepreneurs are master networkers. They know the value of social capital and they make a point of maintaining a wide network. This takes work. It’s not just LinkedIn connections and handing out business cards. By investing in their relationships and developing deeper connections, entrepreneurs turn their network into a valuable resource. While this opens them up to countless opportunities for growth, the best entrepreneurs know that to truly succeed with networking, they also have to be generous and willing to help others as well.

Keep Moving

Finally, entrepreneurs are always moving forward. They have an eye on the future and never want to become stagnant. They know the market is always in flux and trends are always changing. By staying on their toes, these professionals give themselves a major advantage. They’re nimble and adaptable because they don’t get comfortable and complacent on a plateau.

Do you take an entrepreneurial approach in your own business? What does that look like for you? Do you see value in this strategy? I’d love to hear what you think!

Don Riggs

VP – Retail Market Leader

NMLS 132702

303.249.8274

Don.riggs@cardinalfinancial.com