When I work with leaders in the mortgage industry, I try to really drill down into what matters most for making businesses successful. It really all boils down to two things: Your people and your processes. Neither is more important than the other. If you don't have the right people, you won't be able to get your process to work no matter how refined it is. You've got to have good people from the start for any process to work. Does that mean, then, that you should focus on the development of your people at the expense of refining your process? No, of course not! Here's why ...
Having better people on your team won't make your process any better. No matter how good they are, if your people aren't working within the right system, they won't be able to do their jobs. On the other hand, a good system can also make good people better. If you have solid employees and they are given a more robust process to work within, they will be liberated to do their best work. A great process is an enabler for great people to do great work.
People are wonderful. You need talented and committed people who are willing to learn and grow if you want your company to be successful. Nevertheless, if you put perfect people into a broken system, you are likely to get broken results. If your flow chart is a mess, then your flow will be mess. You've got to take the time to develop systems that work for you and your organization to get the job done. You are only as good as your system allows you to be.
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.