In the mortgage industry, there are many different ways to operate a business. Some organizations focus on compliance, and everyone in the company works to make sure business activities are meeting regulatory standards. Others focus on marketing, and everyone in the company works to make sure they're operating consistently with the company's brand. Still others focus on customer service and operations and investors, and so on and so forth. There are many different areas of focus we could center our businesses around.
On the June 20 episode of my Lykken on Lending podcast, we had the opportunity to interview industry expert Dale Vermillion. Dale suggested that the most successful businesses in the mortgage industry focus not on operations or marketing, but on sales. Everyone on the team works to make sure sales is equipped to keep business flowing in. In a sense, every department in the successful mortgage organization is some variation of sales support.
Why is it so important to be sales-oriented? Because revenue is the fuel that keeps the engine running. If we aren't brining money in, then nothing else in the organization makes a difference. Of course, none of this means that the other departments aren't important. We need compliance, marketing, operations, and everything else. But, in order to keep the business growing, every department should be oriented toward sales. So, how sales-oriented is your organization? Do your salespeople feel constricted and confined to cater to other departments, or do they feel liberated and empowered to bring in more business? It's a good question to ask yourself.