You’re only as good as your system

by 08 Sep 2016
This past Labor Day, on a special holiday edition of my Lykken on Lending podcast, I had the opportunity of discussion innovation with mortgage technology expert Derek Malila. Most recently, Derek has launched a technology known as "The Perfect LO." I was excited to learn about this new technology, because I had always been impressed with how Derek works.

Not too long ago, I had had the opportunity to help his company through a structural transition and I noticed the method by which Derek took notes. He used a sort of "if, then" logic in everything he took down. "If this happens, then we do that. But if THIS happens, then we do THAT." The result became a sort of flow chart that helped serve as a guide for him and his organization on how to react to just about any situation they encountered.

Remembering Derek's approach to his workflow reminded me of the importance of systems. Don't get me wrong: people are great. You need talented, committed people who are willing to learn and grow if your organization is 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.


Is TILA-RESPA a good or bad thing long term?