The mortgage business is in the midst of a significant change, but that doesn’t need to stand in the way of loan officers building sustainable businesses. The better prepared you are to navigate the changes, the more likely you are to achieve long-term success. While I write weekly about the strategies and skills loan officers need to succeed, these aren’t all that matters. Underneath our actions are mindsets, and they play a valuable role in our ability to succeed, especially when things are challenging. In this post, I want to cover (what I believe is) one of the most important mindsets for loan officers — abundance.
What is an Abundance Mindset?
An abundance mindset supports the belief that there are enough opportunities, business, and success to go around. It’s a perspective that focuses on possibilities and potential, and it supports the idea that growth and change are always possible, and that we’re always in control of our own success. Here are some of the areas where it’s most applicable for LOs:
Your Networking
When you adopt an abundance mindset, every connection is valuable. You stay optimistic about who you meet and how they might contribute to your success; and you’re optimistic about how you might be of benefit to theirs as well. You jump at every opportunity to network because you believe in the potential of what can come from it.
Your Marketing
When you’re focused on competition and believe that there’s not enough business to go around, marketing work can feel like a waste of time. If you expect immediate results and don’t see them, it’s natural to want to abandon your efforts. An abundance mindset inverts that. It helps originators develop more energy and enthusiasm to invest in their marketing work, and to trust that their efforts will pay off in time. More on strengthening your marketing efforts, here.
Rejection
In any sales position, rejection is just part of the job. With an abundance mindset, a prospect deciding to work with someone else or a lead going cold doesn’t slow you down. Instead of it standing in your way, these things push you to seek out the next opportunity — because you know it’s out there. Rejection is never pleasant, even with an abundance mindset, but with that perspective in place, being rejected becomes considerably easier to manage.
Failure
Things don’t always go as planned, as we’ve all learned the hard way. Maybe something you posted online didn’t get the response you hoped for, or you didn’t meet your sales goal for February. We all experience failures, big and small, throughout our careers. But an abundance mindset will help you play past them — to view them as valuable opportunities to learn from and keep moving forward.
When we view things through the optimistic perspective of an abundance mindset, no obstacle is insurmountable, and no failure is a defeat. See how it works for you.
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