Beginning With The End In Mind In Your Mortgage Business
I’ve got a serious question for you, are you ready?
If you watched someone place suitcases packed with a million dollars into a closet, lock the door, and then offer to sell that key to you for $10,000, would you pay the $10,000?
You watched him put the money behind the door, and you watched him lock the door with the key in his hand. There is NO doubt that you would receive that million dollars on the other end of that door, what would you do?
I’m willing to bet you’d pay $10k in a heartbeat.
But what if you didn’t have $10,000 to give? Would you say, “Oh well, there will be other opportunities.”
Or would you find a way to get $10,000 to get your hands on the cash on the other side?
Alright, Michael, What’s the Point?
My point is simple guys.
Assuming you answered that you would find a way to get that $10,000, it’s because of one reason and one reason only. You had your eyes on what was waiting on the other side of you finding that $10,000. You began with the end in mind.
Let’s take another scenario, maybe more applicable to your situation. I get loan officers asking all the time if I think they could convert their internet leads better if they followed up with every single one vs using an automated system to follow up and get the lead engaged. My response?
ABSOLUTELY. If you were generating 20-30 leads a month and did so vigorously and didn’t let anything fall in between the cracks, your conversion could probably be north of 5%!
You know what 5% is on 20 leads though? It’s 1 deal. And that’s an average meaning you may get NOTHING for 2 months and 3 loans the next.
But if you ask these guys what their goals are, do you think they say that they want to increase their production by 1 deal a month? HELL NO. They all want to double, triple, or even 10x their production. Yet they’re thinking about investing dozens of more hours to get a higher conversion rate instead of focusing on generating 2-300 leads a month and creating a system for working THAT many leads.
There’s not a chance in hell they could follow up with that many leads on their own and convert better than if they had an automated system weeding out the ones who obviously aren’t interested or submitted BS information. So why create your activities on a scenario that doesn’t exist if you’re on track to where you want to go?
What Beginning With the End In Mind Meant for Me
I get asked often, what is it that led you to Google Ads in the first place? Why didn’t you generate leads on Facebook like everyone else?
There are two parts to the answer to these questions. Number one, why I got into internet lead generation at all. When I set my sights at making my income in 2017 6x higher than it was in 2016, I knew I was going to have to flip what I was doing upside down. First off, I was working at a large bank. Can I make $300k in the next year realistically here if I made 50k this year and felt like I was busting my ass?
Probably not. So I moved to a company that paid me 3x as much per loan.
Great, now in order to make 300k I needed to do about 8 loans a month. I was currently self-sourcing 0-1…. Was it realistic for me to be able to do this the “traditional” ways of mortgage marketing? Could I build enough relationships with enough referral partners, fast enough to hit that goal? Considering my insane level of outbound call reluctance, probably not.
So how would I do it?
That’s when I remembered my internet car sales days and the abundance of internet leads. At the same time, I knew mortgage leads cost 40-100 bucks a lead, and that I couldn’t afford that. Next idea.
Facebook? Great, let’s start there. Okay, my lead cost is down to $4-5 a lead but these guys are looking for a house, not a mortgage loan. These leads are going to convert at too low of a rate for me to be able to get to 8 loans a month fast.
And that’s when I began to crack the code for Google Ads. Because I knew that the activities that I was presently doing were not going to be the same activities I would be doing if I was achieving my goals, and rearranged my activities based on that mindset.
Oh and by the way?
I didn’t have money during this time. I was so excited and motivated by the thought of making $300k, I was willing to go into any amount of debt necessary to get there because I knew that I could pay it all back once I did. THAT is beginning with the end in mind.
If your goal is so far out of reach that you don’t know how you’re going to reach it, you’re the perfect client for our lead generation system. This system is for LOs that want to hit levels of production that are so high, they don’t know the slightest clue of where to start. Not for LOs that want to do an extra two or three deals a month (although it does work for them), and not for LOs who just want to “supplement” their current plan. No, Empower Funnels is for LOs who want to change the lives of themselves and their families, but would rather make it happen than wait and see if what their doing will work.
Thanks for reading, I’ll see you at the top!