The best leaders in the mortgage industry have an entrepreneurial spirit. Whether or not you've started your company, you've no doubt had the spirit of a starter to get to where you are as a leader. People becoming leaders by taking initiative, getting their hands dirty, and doing the work while others are just sitting around waiting for orders. As a leader, you are probably used to doing a lot of the work yourself—because doing the work is at the heart of becoming a leader.
That being said, however great your strengths, you as a leader are still a human being. You can only take on so much responsibility before it becomes too much for you to handle. Sooner or later, you've got to trust other people to help you out ... and that isn't easy. Indeed, in my years spent working with leaders in the mortgage industry, one of the most difficult challenges I've noticed is for leaders to let go of that control. You know that you can handle it yourself, because you've done it before. It can be really difficult to unload some of the responsibility on others, when you aren't quite as sure that they can handle it.
Eventually, though, I've noticed that the best leaders always get to the point where they can be comfortable with delegation. If you want to continue leading successfully, delegating is a necessity. For one, it allows others the opportunity to grow and demonstrate their capabilities. But, beyond that, delegating some responsibilities frees you as a leader up to do the work you really need to be doing.
David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is David@TMS-Advisors.com.