What is your advice for other women who are deciding whether to take opportunities being offered where they are now or if they need to move on to grow and move forward?
SM: I understand that sometimes the circumstances and environment will dictate your decision. There are workplaces where the culture or work environment are uncomfortable, unfair, or downright toxic. If that is the case, certainly moving to another organization may be the prudent or, in fact, the only choice.
It may also be the case that there is no room to grow and advance in the company you are with, so moving on means moving up and that is a completely legitimate reason to look outside for a better and more opportunity-rich place to hang your briefcase.
However, I have learned that sometimes you really need to look for the opportunities where you are. You may love the company you work for and strongly believe in what you do for them and what they do for the community. In that situation, it is important to turn over every stone to make sure you haven’t missed an opportunity to get where you want to be without having to up stakes and move elsewhere.
One of the best ways I have found to get moving forward even when it seems you may be stuck in place is to find yourself a mentor within the organization.
A mentor should be someone who you do not report directly to but to whom you can turn for advice, constructive criticism, and guidance when you are making decisions that require an outside and objective opinion. It often happens that we can get so focused that we miss a small detail that someone else will catch.
Some companies offer a mentorship program within their organization, and I cannot recommend highly enough that you take full advantage of that. The enemy of success is complacency and having someone give you a nudge when you seem to be spinning your wheels may be all you need to get your momentum back and have the confidence to ask for what you need and deserve.
Sometimes we hesitate to put ourselves out there because of circumstances in our lives like having small kids at home or other life commitments. What would be your recommendation for a woman in that position and making that kind of decision?
SM: My answer is simple — Don’t do that! Even the slightest hesitation can mean that you miss an opportunity that could change your life for the better.
I think as women, we tend to have to work a little harder to balance the things in our lives that benefit us and those around us. Children and family obligations would be a prime example of reasons why some women may step away from the promotions and rewards they deserve and have earned. I think that is a huge mistake.
My advice is to take the offer and then get creative to make it work. Customize the solution to your needs. Be flexible but keep the goal in mind. Ask for help when you need it and activate a support system within your family and friends that allows you to take advantage of offers to advance while maintaining the needs of those you love and are responsible for looking after.
You also must take full advantage of circumstances that arise which will move you toward your goals. Step outside of your comfort zone and into the spotlight when the opportunity presents itself. The thought of being on a panel at a conference might terrify you but saying no to the task could deal a fatal blow to your chance of promotion and advancement.
Fear is impactful but fleeting. Don’t let it hold you back from taking the chances that can be your golden ticket to the job of your dreams. You are good enough, smart enough and have worked hard enough. Now let everyone else see what you can do.
Knowledge is power. It is an old saying but so true. If you get a chance to learn something new, take it. Don’t hesitate or even think about it. Just take the opportunity to learn and keep learning. Even if you are busy at work and have home commitments too, learning will always prove worthwhile as you move along your career path.
Knowledge is important because it opens doors even in a hallway we weren’t intending to walk down. There are times when we may hesitate to accept an offer because we don’t have enough confidence due to lack of knowledge or experience. But, if we have opened ourselves up to new educational avenues when they are offered, the chance of hesitation becomes less and the opportunities less limited.
You are a mortgage veteran, what changes have you seen since and where do you think we are going in the future?
SM: I have been working in the mortgage industry for almost 28 years now.
You could literally write a book on how much our industry has changed but I think the biggest change I have seen is the regulation. When I started in the lending business it was kind of the wild west. There was little compliance or oversight.
Then we had the financial crisis of 2008 and things started to change. I weathered that storm and am glad and grateful that I was able to do that. There were a lot of my colleagues who didn’t survive that time and it was hard to watch and experience. But that correction was necessary based on the way things were headed.
The mortgage business has shifted significantly from an anything goes attitude to one of greater prudence and intelligent risk assessment. I do still see some of the questionable actors from those wild west days show up occasionally, and I use those appearances to remind myself that there needs to be a more substantial risk to credit balance in our business now. We need to balance the reputation and credit of the company with the financial risks associated with the mortgage.
I suppose one silver lining of the financial melt down was that those of us who survived it and continued in the mortgage business learned lessons and have made the adjustments necessary to work smarter and trust our instincts when it comes to people and the industry itself.
Do you think it is important for women to trust their gut instincts and intuition in the workplace today and has that played into your own career?
SM: Absolutely it has. In both ways. I have had situations arise where I felt something was off but ignored the feeling because I lacked the confidence in my own intuition. An example would be doing business with someone who, as it turned out, had questionable business ethics and my not walking away when my gut was screaming at me to do so. I learned my lesson when loans were left undone and needed to be bought back at a cost to the organization.
My advice in a situation like this would be to do your homework. If you get a bad feeling about a person you are considering doing business with, don’t just walk. Do some legwork. Ask questions and do your homework. If you find your gut was right, walk away. You might also discover that things are fine, and you can proceed with confidence. Either way, you are secure in the knowledge that you have done everything you could to substantiate or refute your instinct and the next time you will have more confidence in your ability to judge a situation correctly.
I have also had the satisfaction of having my instincts tell me, unequivocally, that I was in the right place and that I should leap in feet first. This was my experience in the meeting with Kevin which brought me to Plaza. I got a strong, positive vibe in our conversation and I didn’t hesitate to step into my new role. It was a good decision, and my instincts were right on.
This series is called Trailblazers. Tell me what being a trailblazer means to you and do you consider yourself one?
SM: When I think about the term “trailblazer” I think about someone who is willing to take a risk and make some bold moves along their career path or in life. And they are the first to make those moves so others can come behind them and feel more confident about making the same decision. The trailblazer takes the risk and sets the standard for those who come to the same crossroads later.
This is not to say that the trailblazer has an easy task or is a particularly brave soul. They may be terrified of what could happen should they choose a certain direction or decision to make. They could be having to decide on something that they know will impact others and not be popular with those around them.
The point is that they take the action and don’t step away because of fear or indecision. And once they have done that, based on the outcome, others can walk across the same path with less trepidation. The trailblazer follows their vision, and they move things forward.
I do believe I am a trailblazer. I made the move to Plaza, but I also brought my team with me. I was honest with them when I asked them to come along. I told them the first year was going to be a lot of hard work and not much fun. But I also felt strongly that it was going to make all our lives better. I couldn’t guarantee that, but I had a gut instinct. They trusted me enough to come with me.
If I had let fear and doubt hold me back from taking out my machete and hacking through a new patch of jungle vines, I might have missed an incredible opportunity and my team might not have enjoyed the success they have now as well.
I am of Armenian descent. Women are not generally in positions of power so for me to step forward and take the risks I have taken is a big deal for me. There have been missteps and sacrifices but when I hear my 19-year-old daughter tell her friends what her mom does and sounds proud doing that, I know I have made the right moves.
When I go to conferences, I often have other women come up to speak to me and tell me they have followed my career. It pleases me to think that younger women coming up in business can look to those of us who have experienced the climb and learn what pitfalls to avoid and what opportunities to grasp with both hands, confidently and successfully.
