Today we are joined by Lori Snowden, previously a top financial planner and life insurance agent who realized she wasn’t happy in that industry. Now, she has successfully transferred over to the mortgage business and we’ll hear about what her transition has been like.
This episode is sponsored by Finmo. Finmo is Canada’s fastest growing mortgage origination platform. To find out if Finmo is right for your business visit www.finmo.ca/scott
Timestamped Show Notes
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[2:05] How did you get into the mortgage business?
- I was teaching for a short time and then I became a life insurance agent and financial planner. I was really good at it, but I hated it. I was offered a position to get out as a mortgage broker and I loved it.
[3:03] What did you like more about mortgages over insurance?
- One is asking for money and the other is giving money.
[3:18] What lessons did you take from selling insurance that you were able to take over to your mortgage business?
- Life insurance taught me to teach people the difference between a need and an option, which I transferred over to mortgage brokering.
[5:09] Can you share a quote that’s really impacted your life or business?
- I have a couple: “easy to do, easy not to do”, “effort equals income”, “what is measured is managed”, and “I hope you live a life you are proud of. If you are not, I hope you have the strength to start all over again.
[7:50] Can you share something that you failed at, but learned a lesson from?
- I had become complacent. I was cutting corners, I had a lot going on at home, and I wasn’t doing my job correctly.
- I am lucky nothing worse came from it. To fix it, I went back to what I know and started educating myself again.
[10:24] What did you do specifically to get yourself out of your rut?
- I did programs through Darren Hardy and Michael Bernoff, as well as used NLP, neurolinguistics programming.
[12:45] What are a couple things you do in the morning that set the tone for your day?
- I have a morning routine that starts the night before. I want my email to be on the top of everyone’s inbox, so I draft it the night before and then send it at 5 AM.
[14:42] If you were starting over today, what would you do in the first 90 days to keep your business going?
- I would focus on keeping my morning routine and knowing that failures are part of the journey.
[16:40] What’s the biggest change you’ve made to your business in the last 12 months?
- Definitely the phone calls. Protect your hour of phone calls. It’s number one on your list every day.
[17:23] What has made making calls easier for you?
- It’s your mindset. You make an easy call and then you make a hard call. You have to ignore your call reluctance.
[18:53] What was your single biggest takeaway from the courses?
- Realtors are a huge part of your career. Embrace them and look after them.
[20:50] What is the number one thing holding most mortgage brokers back from being successful?
- Courage, self-discipline, and trying to change too much at once.
[22:03] Do you have an internet resource or software you use to make your business more successful?
- I’m not the most tech-savvy person. Right now, Trello is my go-to.
[22:45] Do you have a book you would recommend?
[23:40] How would you invest $100k into your business?
- A good underwriter for sure. A good underwriter is the best thing you can do for your business. The second best thing is a good training program or coach.
Connect with Lori through email: firstname.lastname@example.org
Connect with Lori through text: (416) 303-3362
If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.