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Lessons of a Startup Part 2

 

Guest articles > Lessons of a Startup Part 2

 

by: Daniel Milstein

 

When beginning Gold Star, I was presented with many challenges and obstacles to overcome. However, with these challenges come lessons that will allow you to grow your business into profitability.

I had an experience that reinforced my belief that some older customers aren't overly enthusiastic about working with younger loan officers. I had arranged several loans for a former All Star and Hall of Fame baseball player. We had completed these transactions over the phone and it was three years before we actually met. When I did get together with this well-known sports figure to discuss another loan, he smiled and commented, 'I didn't know how young you were. If I had, I probably wouldn't have given you the chance to arrange my home financing.' Obviously, my performance made him realize he had made a wise choice.

We later added teachers, policemen, firefighters and military personnel to our growing list of special interest customers. In addition, we developed a reputation for working difficult loans, those that other originators weren't experienced enough to handle. While our preference is to serve the 'best of the best' customers, I knew by assisting Realtors with their 'turn-down' loans, we would further underscore our reputation as the experts, and referrals would increase exponentially. Many originators get themselves in a bind by offering unrealistic expectations to agents who promise future business. My underwriting background enabled me to quickly assess the feasibility of challenging loans; thus I didn't damage our reputation by missing deadlines for impossible deals.

There may be initial complications with a start-up. However, learning curve lessons is part of the game and experience will reinforce that knowledge.

 


Daniel Milstein is the bestselling author of ABC of Sales. For more information, visit: http://amzn.to/ABCARTICLES.


Contributor: Daniel Milstein

Published here on: 02-Jun-13

Classification: Sales, business

Website: http://amzn.to/ABCARTICLES

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Site Menu

| Home | Top | Quick Links | Settings |

Main sections: | Disciplines | Techniques | Principles | Explanations | Theories |

Other sections: | Blog! | Quotes | Guest articles | Analysis | Books | Help |

More pages: | Contact | Caveat | About | Students | Webmasters | Awards | Guestbook | Feedback | Sitemap | Changes |

Settings: | Computer layout | Mobile layout | Small font | Medium font | Large font | Translate |

 

 

Please help and share:

 

Quick links

Disciplines

* Argument
* Brand management
* Change Management
* Coaching
* Communication
* Counseling
* Game Design
* Human Resources
* Job-finding
* Leadership
* Marketing
* Politics
* Propaganda
* Rhetoric
* Negotiation
* Psychoanalysis
* Sales
* Sociology
* Storytelling
* Teaching
* Warfare
* Workplace design

Techniques

* Assertiveness
* Body language
* Change techniques
* Closing techniques
* Conversation
* Confidence tricks
* Conversion
* Creative techniques
* General techniques
* Happiness
* Hypnotism
* Interrogation
* Language
* Listening
* Negotiation tactics
* Objection handling
* Propaganda
* Problem-solving
* Public speaking
* Questioning
* Using repetition
* Resisting persuasion
* Self-development
* Sequential requests
* Storytelling
* Stress Management
* Tipping
* Using humor
* Willpower

Principles

+ Principles

Explanations

* Behaviors
* Beliefs
* Brain stuff
* Conditioning
* Coping Mechanisms
* Critical Theory
* Culture
* Decisions
* Emotions
* Evolution
* Gender
* Games
* Groups
* Habit
* Identity
* Learning
* Meaning
* Memory
* Motivation
* Models
* Needs
* Personality
* Power
* Preferences
* Research
* Relationships
* SIFT Model
* Social Research
* Stress
* Trust
* Values

Theories

* Alphabetic list
* Theory types

And

About
Guest Articles
Blog!
Books
Changes
Contact
Guestbook
Quotes
Students
Webmasters

 

| Home | Top | Menu | Quick Links |

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