You have heard the old saying that "Knowledge is Power"
and I'm sure that that makes sense. But, I know for
sure that knowledge is income. The more
relevant knowledge you have, the more opportunities you
recognize and can act on.
For instance, in my first 5
years as a residential mortgage originator, I passed up
several commercial loan opportunities a year because of my
ignorance and fear.
After watching a competitor take a commercial
deal I had passed on, process and close it, then walk away
with an $18,000 fee, I did a little reflection.
My counterpart possessed only one thing that made a
difference in whose purse or pocket that fee landed in.
KNOWLEDGE
Back then (15 years ago), the only
resource I could find was a 4 day class at the cost of
$3900. After several weeks of deliberation I signed
up, bought my flight ticket.
Since the course was 7 weeks away, I
requested my class materials ( I had to use many of my
skills of persuasion to get them to send them to me ) and
waited.
After receiving my materials, I was pretty
disappointed. It was a couple of spiral bound
manuals consisting of about 60-80 pages each, half of the
pages were photcopies of forms.
In a couple of hours I had a pretty good
idea of how to process and submit a commercial loan and a
better idea of why they did not want to send the materials
to me prior to coming to the class.
Then I realized, it was not how
impressive the material looked, but the knowledge that was important.
I attended the class which added a couple
of pointers in the marketing arena, but the submission
instructions and the qualifying math was exactly as in the
manual.
15 years later, I decided to take the
mystery out of commercial loan origination and processing
for other residential originators by releasing a manual in
ebook form named;"Commercial Loan Processing Made Simple