What's the No. 1 factor in any company's success?

by MPA22 Sep 2014
By David Lykken
Special to MPA

I recently read a book that fell so much in line with what I believe for the mortgage industry that I feel strongly compelled to share my thoughts on it with you here. I have long been a fan of Patrick Lencioni's work and have learned a lot about business from the stories in his other book, but The Advantage has really sharpened my perspective. After reading this book, I now have a renewed sense of what it means to be a successful organization.
In the book, Lencioni points out the fact that many organizations focus too heavily on developing the technical skills of their employees. They want people who are better quantitatively and can do their jobs better than competitors. That's all fine and good but, as Lencioni points out, it isn't really a differentiator. It's just, as he says, permission to play the game.
If there's one thing that sets apart the great organizations from the mediocre ones, it's organization health. Do your people function well together as a team? If there isn't a great amount of synergy between your employees, and especially your leadership, it's going to be every man for himself. People will be working for their own careers and not for the good of your company.
In the mortgage industry, I'm convinced that application of this concept is needed more so than any other. Do you people feel like they're part of a team, or are they just in it for themselves? How you answer this question will make all the difference between failure and success.
 David Lykken is 40-year industry veteran who consults on virtually all aspects of mortgage banking. David hosts a successful weekly radio program called “Lykken On Lending” (www.LykkenOnLending.com) that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professionals.


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