Motivation: Give yourself a deadline

by 11 May 2015
By David Lykken
Special to MPA

On the May 4th episode of my Lykken on Lending broadcast, I got the opportunity to discuss adjusting to TRID with Tyler Sherman of Motivity Solutions. Tyler brought up something about innovation that I thought was very interesting.

Sometimes we have trouble motivating ourselves to improve, and we need something to give us a push. Rather than viewing TRID as a hindrance, we can instead see it as motivation to improve our operational efficiencies.

And this isn't just about TRID; it's really about organizational change. We don't make drastic changes on accident. We must be deliberate and intentional in order to improve ourselves. And we often don't succeed in improving ourselves, because we fail to set measurable objectives. Rather than simply saying, "We'll improve," we should be saying, "We'll improve 'X' amount by 'X' date." The deadline provides us something to work against and help us gauge everything we need to do in order to reach our objectives in a given amount of time.

So how about you? How have you used TRID as a competitive advantage to improve your operational efficiencies? What about other objectives in your organization? Are you setting clear deadlines for your people to work against in order to get the job done? Tell your people to improve, and they might do so eventually. Give them a deadline, and they'll get busy right away.


Should CFPB have more supervision over credit agencies?