Building relationships and saving time

Efficiency is important. But no customer is going to want to buy from you simply because you're efficient -- you've got to develop relationships as well

By David Lykken
Special to MPA

When you're on the phone with an employee, client, or some other connection, how much time do you spend engaging in small talk before getting down to business? Now, multiply that by the number of people you talk to in a given week. How much time do you think you're wasting discussing things that don't matter for growing your business? If you're like me, it's probably quite a bit.
On the other hand, it's the small talk that solidifies relationships. You bond emotionally with people by having the willingness to discuss those non-business items. And, when it all comes down to it, people are going to follow you as a leader because of the relationship they have with you.
As with most things, it's all about balance. Yes, you need to be efficient with your schedule. But, no employee is going to want to work for you and no customer is going to want to buy from you because you're efficient. You've got to develop the relationships as well.

David Lykken is 40-year industry veteran who has been an owner operator of three mortgage banking companies and a software company. As co-founder and Managing Partner of Mortgage Banking Solutions, David consults on virtually all aspects of mortgage banking with special emphasis executive leadership development, corporate strategic direction and implementation as well as mergers & acquisitions. 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 professionals. Recently he started producing a 1-minute video called “Today’s Mortgage Minute” that appears on hundreds of television, radio and newspaper websites daily across America.