So often there are so many variables linked to success, so how do we know which ones were the real reason behind it all? Well, that’s what we’re going to talk about this morning. Happy Monday y’all, Thomas Joyner with business on Purpose here.
I love meeting with new businesses and asking them what they attribute their success to. A couple of weeks ago I was meeting with a friend who ran a mortgage office and he said something that struck me.
We were talking about the Mortgage business and how on fire it has been recently. Clearly, he had a great year and originated a record number of loans for his branch. I started asking him what was behind that. He said a few things I expected like, “Well the rates were so low, people’s buying power jumped this year,” or, “so many people moved south due to the pandemic and needed a lender”, or even, “everyone and their brother decided to refinance their homes this year to lower their rate.”
All that stuff was predictable. But, what I appreciated was what he said next. He said, “Thomas, if you didn’t succeed in the mortgage industry this year, you probably can’t make it. It was almost too easy. This year we succeeded IN SPITE of ourselves, but the true measure is going to be next year where we have to succeed BECAUSE of ourselves.”
If you’re looking for more resources to work ON your business, we have them.
Now that’s a heck of an observation. You see, he realized that this year’s performance had very little to do with the effectiveness of his business. It didn’t have to do with the processes or workflow or even the customer service. Sure, that stuff helped, but the waterfall of business was flowing so strongly, that they didn’t have to be great at what they did in order to succeed.
But next year, when the pipeline is a little less strong, when the refinance market slows down and everyone has the rate they are after, the competition really kicks in. The playing field is narrowed so to succeed, it has to be ON PURPOSE!
I thought about that in the context of this pandemic. Are you ready for the year after the pandemic? Have you been living in chaos mode so long that you’ve lost your advantage? So when the pipeline starts to slow down a bit, your processes aren’t ready to keep the sales moving forward?
You see this is why we’re so passionate about systems and processes. They are tested in the midst of the fire, but they are perfected in the calm. Their worth is truly realized when there is nothing else to fall back on.
So, before it’s too late, where are the holes in your processes? Where do you need to take some time to work ON your business, so that your business is ready to handle what this year will inevitably throw at you?
You have to have a plan!
I loved what my friend said. They weren’t just expecting this year to go off without a hitch, but we’re going back to customers and asking how they can improve by sending surveys. They were poking holes in the customer experience to make sure that, this year, they succeeded because of their systems and processes.
One thing we say around here all the time is, “There’s no competition for a well-run business.” And we truly believe that. The day you commit to that is the day you stop succeeding in spite of yourself and truly build a competitive advantage that keeps you in front for the long haul.
If that doesn’t make sense, reach out…let’s have a conversation. We want you to succeed because of yourself. To build a business free of chaos! One that you can be proud of and not have to worry as much about the external factors blowing your business around.
Hope you guys have a great week! Make sure to follow my business on purpose on youtube and subscribe to our podcast. Man, there’s so much good stuff on there.
Take Care guys.
Scott Beebe is the founder of Business On Purpose, author of Let Your Business Burn: Stop Putting Out Fires, Discover Purpose, And Build A Business That Matters. Scott also hosts The Business On Purpose Podcast and can be found at mybusinessonpurpose.com.