The Power of NO In Your Mortgage Business

If you’ve been following this blog a while, 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.

This ultimately translated 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 is that you’re setting your goals/targets at such a ridiculously high level (10x your previous goal), that you have no choice but to level up your thinking. You 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 set me up to make the amount I was reaching for. Although I didn’t hit my goal, I made about 10-15% more than the original goal. 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. Both 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 opportunities 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, or cold call. Any one of those, or a number of other possibilities, right?

If you say YES to ALL 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 your time/energy/attention to meeting with every Divorce Attorney possible for 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”. 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.

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

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 a few weeks into your all-in strategy your mind starts to wander, trying to 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.

There’s no limit to the number of ways you can succeed in this business. Your only limit is your ability to pick an opportunity, stick with it, and go ALL-IN towards making it work.

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.