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The Big Story: Upping your entrepreneurship

Entrepreneurship for brokers: Brokers are schooled the ins and outs of putting together an application, but buildiing a business that separates them from the competition is often a self-taught  lesson. Here's what they need to know.

The Big Story spoke with Dan Eisner. owner of True North Mortgage, and Greg Williamson, president of 180 Degrees Solutions.

Video trasncript below:

Jamie Farshchi, Mortgage Broker News
Jamie Farshchi:
 The broker and the entrepreneur, they are not always the same person, but should they be?  Hi, I’m Jamie Farshchi and this is the Big Story for Mortgage Broker News.

Brokers may know the ins and outs of calculating prepayment penalties and submitting apps.  But it’s just as important to get the pitching and selling down pat.  
Greg Williamson, 180 Degrees
Greg Williamson:  I think it’s super important that we invest in our ourselves and invest in our education.  My number one tip from this morning was not to think about the battle between us and our bank competitors and just avoid the battle altogether.  Just don’t even think about it and just decide that I am going to sell value and that I am not going to be focused on what my competitors are doing.
Jamie Farshchi:  Still a fundamental concern for brokers is building a brand.  That brand is often the broker’s name, which could be a mistake, especially come time to sell the business.
Dan Eisner, True North Mortgages
Dan Eisner:  An entrepreneur is out there to create a business, a successful business and every successful business needs to be built so it could be sold.  And if you seeing they are branding your own name as your business, unless you could find a buyer that was the same name as you, you won’t be able to sell it.  At True North Mortgage I make sure that my clients are loyal to True North Mortgage not to Dan Eisner and that’s how you build a business that could be sold.