Leadership and the importance of resilience

by 10 Apr 2015

By David Lykken
Special to MPA

As a coach for executives and leaders in the mortgage industry, I spend a lot of time thinking, speaking, and writing about success. One of my favorite things to think about is the answer to a single question: "What separates those who succeed from those who fail?" In the competitive business environment in which we work, there may, in many ways, be no more important question.


Of course, there are many things that make leaders successful. Sometimes, they just happen to be in the right place at the right time. And a great team can make a mediocre leader look successful. There are also traits that the leader himself must have in order to be successful--integrity, confidence, solid communication skills, and so on. But I think there is a trait that no successful leader can do without. At least if he wants his success to be sustainable, no leader can do without resilience.


The ability to persist through challenges is absolutely essential. Sometimes, winning is merely a matter of outlasting your opponent. The person who can hang on just a little bit longer can be assured the victory. Success is an endurance sport. It seems that in our industry more so than others, the ups and downs are simply a cost of doing business. We have peaks and valleys--it's just the nature of the game. Those who have the resilience to hang on through the valleys will ultimately be those who reach the peaks. How about you? Are you a resilient leader?

A regular contributor on CNBC and Fox Business News, David also hosts a successful weekly radio program called “Lykken On Lending” that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professional. Recently, he started producing a one-minute video called “Today’s Mortgage Minute” that appears on hundreds of television, radio and newspaper websites daily across the United States.


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