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The Importance of Giving Back

David Lykken
Jun 28, 2016

Most organizations in business are involved with some sort of charity. There are great business reasons to give money. It can be written off on taxes, and it's great for public relations. Becoming the sponsor for some socially responsible organization can turn a lot more heads toward your organization than a 30 second advertisement spot on the TV. People respond to organizations doing things for the public good, and the mortgage industry is no exception.

On the June 20 episode of my Lykken on Lending podcast, we had the opportunity to interview industry expert Dale Vermillion on various issues relating to leadership in the mortgage industry. One of the things in which Dale is heavily involved is the non-profit Mortgage Professionals Providing Hope—an organization that serves the poor and homeless in the U.S. and abroad. Of course, Dale did mention that being involved with such an organization is a great promotional opportunity. People like to see businesses doing good for the world. But, that isn't the only reason to get involved with giving back.

I would argue that the most important reason to give back to society isn't the promotional opportunity. Rather, it's the recognition that we're all part of the same world. When we give to help others "back on their feet," we are investing in a more wholesome world. Many recipients of help who are "down on their luck" right now could, years down the road, become homebuyers. In the mortgage industry, giving back doesn't just make us look good—it's an investment in our future. When the "least" among us are better off, all of us will be better off.

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 David’s phone number is (512) 759-0999 and his e-mail is [email protected].


Jun 28, 2016