The Power of NO In Your Mortgage Business

If you’ve been following this blog for more than a month or two, you know that I’m a HUGE fan of Grant Cardone. In fact, I’ve said multiple times that reading the 10x rule was a huge catalyst to my success as a producing loan officer and then ultimately translating to our success as a company in the crowded space that is internet lead generation for mortgage professionals.

If you’re not familiar with the 10x rule, the general idea as I like to explain it is that you set your goals/targets at such a ridiculously high level (10x your previous goal), that you have no choice but to level up your thinking and start playing on a different playing field than you’ve ever played on before.

Again, I LOVE this idea.

After all, the only reason I got into internet lead generation and left the big bank that was feeding me leads was because I set my eyes on making an amount of money that was impossible to obtain in the next 12 months where I was at. This lead me to ONLY chase opportunities that put me in a position to make the amount of money I was reaching for, and although I didn’t hit my goal, I made about 10-15% more than what my original goal was and it was way more work than I anticipated.

However, one thing that Grant Cardone says to do in pursuit of your 10x goal is something I’ve come to disagree with wholeheartedly through my experience of growing my mortgage business and now Empower Funnels.

Grant says to say “Yes” to EVERYTHING.

He says that people don’t have a problem saying no, they have a problem saying “Yes”, and then seeing that commitment through to the end.

I get the line of thinking here, but again fundamentally disagree with the idea itself. And here’s why:

In sales and in business, there is very rarely a shortage of opportunity to close deals/make money.

Yes, you can have lead shortages, and shortages of sales opportunities, but I’m talking about this on a deeper level.

If you have a shortage of leads, more than likely you have no shortage of opportunities to get more leads, you just haven’t decided which opportunity you want to explore, right?

You can call more referral partner prospects, buy leads, generate your own internet leads, knock on doors, cold call, or one of any other number of possibilities right?

If you were to say YES to ALL of these things, how effective do you think you’d be at any one of them? It’s pretty obvious that you likely wouldn’t be very effective…

However, what if you were to become the “Divorce Attorney” guy? What if you were to devote all of your time/energy/attention into meeting with every Divorce Attorney you possibly could for the next 30 days?

You’d probably get pretty good at your pitch right? You’d probably develop a kick-ass value add that would make your job of approaching those attorneys even easier. You might even implement the perfect automated follow up system to engage all of your leads based on your experience conversing with leads like them in the past right? Shit, you could even start to brand yourself on Social Media as being the “Divorce Mortgage Expert” and start building relationships with all sorts of new agents around the fact that you need someone to list the houses that end up getting sold instead of refinanced.

Look, obviously this is a somewhat oversimplified example but the message I’m trying to convey REALLY is simple:

Start saying NO more in your mortgage business.

Say NO to in-person coffee meetings with agents you’ve never met before and know nothing about.

Say NO to changing CRMs for the 3rd time this year because you found something “better”.

Say NO to anything that’s going to keep you from your revenue producing activities, whatever those may be for you.

Say NO to the agent that’s restricting your ability to invest in your own marketing because your money is tied up paying for theirs.

And most importantly… Say NO to yourself when you start to wonder a few weeks into your all-in strategy when your mind starts to wander and try and find better, easier ways to do what you’re doing.

There’s never going to be a shortage in the ways to make whatever you’re doing better, easier, or faster.

There’s no finite supply of opportunity in this world, only a finite supply of effort/attention/time concentrated towards an opportunity.

You are not limited in the number of ways you can succeed in this business, you’re only limited by your ability to pick an opportunity, stick with it, and go ALL IN towards making it work for you and your business.

Thanks for reading, and I’ll see you at the top!

Michael

 

P.S. If you’re looking for that ONE THING to go ALL-IN on to 10x your mortgage production, look no further. Book a live demo today to see how we can be the perfect partner in helping you go all-in on online lead generation, and why although there is no shortage of opportunity in our industry, the opportunity we have is the best one out there to get you where you’re trying to go.

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