299: Why 10x is Easier Than 2x

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Welcome to the mortgage game.

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I truly, truly believe that

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building a mortgage business, a
successful one is like playing a

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game.

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There's winners, there's losers.

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There's certain things you try.

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Some of us are playing checkers

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while others are playing chess.

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I've had the ability to coach and

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mentor hundreds of mortgage
brokers.

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I myself built a very nice
business.

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So now I want to distill all that
information, all the things I've

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learned from that and bring it
directly to you in a simple to

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understand way.

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I hope you enjoy.

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All right.

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Welcome to Mortgage Game Podcast.

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Whiteboard Wiley in the house
coming to you from the Dodge Ram

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Studio.

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And for those of you just

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listening for the first time, the
second time, the eighth time, just

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letting you know, this is a
podcast.

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Obviously, Ryan, duh.

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But this is...

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I'd say 90 % of the episodes have
been filmed in my truck.

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Not filmed, recorded.

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There is no video.

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They've been recorded in my truck.

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And so this is for all of you

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thinking you need to be picture
perfect on all these things.

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I started six years ago with this
podcast and I said, I just want, I

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have stuff in my brain I need to
get out to help mortgage brokers.

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This is when I was brokering and
running my own book.

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I have all these information that
I know would be extremely helpful.

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How do I get out there?
I'm just going to start a podcast.

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Much like a lot of you should
start a podcast.

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And it doesn't need to be in a
production facility or better way

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of saying that, a recording
studio, an office with the perfect

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backdrop and the perfect big
microphone.

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Only recently did I get the ear.

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Man, my words, there's a five on

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the clock, okay?
So my words aren't flowing off my

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tongue that well.

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But the headset.

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I was using the old Sony headset
that I had for probably eight

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years.

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And just recently I got this Beats

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by Dre one and I really don't like
it.

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I should have just stuck with my
old one.

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But this is me just telling you,
you don't need all the things.

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Go do whatever you want.

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Like go record how you did.

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Like there's no editing.

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There's light editing on this.

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I don't want to say that because
Nikki does take care of me on

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this.

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But for the longest time, there

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was no editing.

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And it was just me recording,

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using a free podcast software to
put it on the platforms, get it

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out, put a description in, fire it
out, and just get on with your

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day.

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And then eventually it started to

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grow and grow.

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And I remember letting people know

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about it.

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And here, go check this out.

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Hey, I explained how to get a 40 %
increase to your revenue without

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really doing anything different.

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And that was like one of my first

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couple episodes.

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Just like change the location

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where you do your mortgages within
one hour around you.

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Even longer than that.

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There is a 40 % increase in

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mortgage.

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Why am I trying to build a

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business here, especially now with
social media?

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It's even easier.

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Why would I try to build one here,

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hyper -local, if I can go get a
raise by just prospecting referral

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partners and clients and my social
somewhere two hours away?

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Just because I'm in butt -fuck
-nowhere Ontario doesn't mean I'd

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build my business there.

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Like, there are so many mortgages

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in the GTA.

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I'm going to build my business

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there.

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But it's four hours away.

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Who cares?
No one knows where you are.

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No one.

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Like, oh, anyways, we won't get

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into that.

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But this is me just hopefully

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inspiring you to go, hey, I've
always wanted to do this, but I

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needed that.

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Yeah, it's one of my superpowers.

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I just take action, figure it out
later.

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I just go.

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I quickly, because then I realize

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if it's something I actually want
to do.

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And as we can tell from this, six
years later, I didn't be longer

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than that, but coming up 300
episodes.

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Yeah, I really like doing this.

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And it's paid off immensely.

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Let's get in today.

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Oh, and so this was me just

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telling you, if you're new to the
podcast, thank you for listening.

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That's because there's hundreds of
episodes before.

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A lot of those episodes, like
majority of them, they're

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evergreen.

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It's stuff that is still relevant

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today.

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So it's not like, oh, it's 2026.

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That's old stuff.

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I'm not going to, no, no, no, no.

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I don't know.

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It's all within those podcasts.

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And you might be like, oh, it's a
lot of time, a lot of energy.

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Okay.

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So is life.

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You don't have to.

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I'm just saying it's there.

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At zero cost.

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This podcast is brought to you by,

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we do need sponsorship, which is
why this podcast is brought to you

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by Americano.

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Oh, it's still hot.

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Still hot.

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And you might be going, why is he

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drinking Americano?
Why do I have to listen to that?

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Why didn't we edit it out?
Because it's on the budget.

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Okay?
Do you get it?

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And I don't care.

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don't care.

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That's the bigger piece.

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It's my podcast.

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So let's get into what we're
talking about today.

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So two concepts here.

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Second one is how going from 100K

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to 500K is easier than going from
100K to 200K.

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And I'm going to break that down
for you.

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And it's a mindset thing that when
you get it, you get it.

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And if you don't, then you get
stuck in the weeds, man.

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You do.

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You really, really do.

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Way easier to 5X your income, 10X
your income than it is to 2X it.

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you might be like, well, I've been
trying for years.

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Exactly.

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So I'll get into that.

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But before that, I want some of
you to pat yourself on the back

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and you're like, but why, Ryan?
This is why.

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If you're revenue, we're in a time
right now where let's just say,

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I'm going to use example
generalities here.

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Okay.

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Let's just say you did 20 million

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in volume.

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Okay.

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Back in the day, they used to be
like 20 million, a hundred base

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point plus volume, all this stuff.

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Getting 110 to 115, let's say 110,

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that's 220 in revenue.

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That's great.

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That's good money.

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Now it's not the case.

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20 million does not equal that.

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20 million is now, we're down to a

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combo.

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We just came out of a three -year

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market with three -year comps.

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Now some people are doing five

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-year variables and three -year
comps.

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So it's the average basis point
when you factor volume bonus in,

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you factor all that stuff in.

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And I can see this across billions

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of dollars of volume.

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I can see it, the numbers.

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I have the data.

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It's 80 basis points right now.

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So if you're doing 20 million, you
are down to 80 basis points.

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That's 160 ,000.

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And then you back out your costs

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and expenses, everything, right?
So you took a $50 ,000, $60 ,000,

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geez, sorry, $60 ,000 haircut.

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And so a lot of you are freaking

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out because you're like, I want to
be growing and my business isn't

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moving.

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And it's like, if you could just

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hold the line, That's a saying.

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If you could hold the line with

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your volume and deal, like you're
feeling the pinch on the other

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side, right?
Expenses, gas, your own mortgage

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interest rate, groceries,
vacations, everything's up.

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So your expenses personally and
business are up.

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You're being paid less.

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Everything's being compressed down

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to this little tight, little smash
burner.

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I like smash burn.

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So we're going to keep going with

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that.

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It's being compressed down.

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And some of you are looking at it
as a negative thing because your

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business hasn't grown.

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And I'm sitting here, just hold

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the line, man.

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I don't know what's coming.

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Bigger comp, stuff coming down.

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Or is this new reality?

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We don't know.

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But you shouldn't get so down on

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yourself.

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If you did 20 million before,

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doing 20 million now, even though
you have been plateaued for a

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couple of years, let's say.

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That's really good.

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It's harder to put deals together
now.

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You're working double the time on
deals for half their revenue and

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expenses are up.

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So your revenue is going to be

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down at 20 mil.

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Your volume, if it stays the same

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across the board, because mortgage
volumes aren't necessarily going

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up.

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They should just pull you along

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and drag you along over the years.

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Mortgage volumes are just giving

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you a raise every year without you
doing anything.

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We're in this five -year comp
stage.

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And so we have these bloated...

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T48s.

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Seriously, they're just like, we
were making a ton of money and we

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still do really well now.

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But you have to have a reality

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check.

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The reality check is, is your

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business meant to go from 20 to
35?

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Well, it's going to take you
before it would take you X effort

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to do that.

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And you are also being pulled

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along by just mortgage rates
increasing and less competition

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from the banks.

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What now to go from?

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Here, 20 to 35, it's like 5, 10x
of input you need now.

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And this leads into my second part
we're going to talk about.

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You need to be way smarter with
your time.

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Where you invest your time starts
being the number one problem you

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need to solve.

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Because no longer can you dick

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around here, fuck the dog over
here, do these things here, and

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just coast along on 110 basis
points.

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Duke to do and work two, three
hours on a file with some

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fulfillment on the back end and
cash in five, six thousand, seven

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thousand dollars.

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There's one offs with that.

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But as you're seeing, that's not
the case as a whole.

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And you're not alone.

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It's not like you're the only

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person going through this.

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The entire industry is going

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through it.

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So it's like, OK, now what?

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00:08:54,050 --> 00:08:58,830
So I just wanted you to go, hey,
if you've kept your volumes the

263
00:08:58,830 --> 00:09:00,790
same, because I see landscape
here.

264
00:09:00,790 --> 00:09:02,550
A lot of people's.

265
00:09:02,550 --> 00:09:03,570
business is trending down.

266
00:09:03,570 --> 00:09:04,170
You've got volume.

267
00:09:04,170 --> 00:09:06,730
So if your volume will stay the

268
00:09:06,730 --> 00:09:10,470
same, I know your revenue is
trending down, but I call that

269
00:09:10,470 --> 00:09:14,510
holding the lie because the only
way your revenue would stay the

270
00:09:14,510 --> 00:09:18,110
same as a previous 20 mil is if
you end up doing 30 mil, right?

271
00:09:18,110 --> 00:09:22,050
So 30 mil at 80 base points, 240,
you get in that world and you do

272
00:09:22,230 --> 00:09:23,750
28 mil, give or take.

273
00:09:23,750 --> 00:09:24,950
So you need to go increase your

274
00:09:24,950 --> 00:09:29,170
business by 40 % to keep your
revenue the same.

275
00:09:29,170 --> 00:09:31,820
Okay, so you start to see this
math equation here.

276
00:09:32,580 --> 00:09:35,040
Okay, so you got to pick out some
positives out of this.

277
00:09:35,160 --> 00:09:37,520
If you're keeping your volume the
same, the same number of deals

278
00:09:37,520 --> 00:09:39,120
closed, kudos to you.

279
00:09:39,120 --> 00:09:40,340
Because I already know it's taking

280
00:09:40,340 --> 00:09:42,260
more time and energy.

281
00:09:42,260 --> 00:09:43,840
Now the revenue isn't there.

282
00:09:43,840 --> 00:09:46,800
Okay, so to fix that, we need to
increase by 40%.

283
00:09:46,800 --> 00:09:49,680
And if it's harder to close more
deals now and more energy involved

284
00:09:49,680 --> 00:09:54,020
to increase my business by 40 %
than it used to be, then what does

285
00:09:54,020 --> 00:09:58,640
that mean?
Well, shit, it means I need to

286
00:09:58,640 --> 00:10:00,390
like put a 300x on my input.

287
00:10:00,390 --> 00:10:01,310
What does that mean?

288
00:10:01,310 --> 00:10:03,430
Right?
So this starts to be the

289
00:10:03,430 --> 00:10:03,590
conversation.

290
00:10:03,590 --> 00:10:05,210
This podcast is brought to you by

291
00:10:05,210 --> 00:10:05,350
Americana.

292
00:10:05,350 --> 00:10:06,350
There's a five o 'clock.

293
00:10:06,430 --> 00:10:06,930
Bear with me.

294
00:10:06,930 --> 00:10:09,310
Okay, so you start to see this,

295
00:10:09,310 --> 00:10:10,470
right?
So first off, pat on the back,

296
00:10:10,470 --> 00:10:11,810
holding the line.

297
00:10:11,810 --> 00:10:13,110
And now it's like, adjust your

298
00:10:13,110 --> 00:10:13,570
expectations revenue -wise.

299
00:10:13,630 --> 00:10:14,230
You're getting in the personal

300
00:10:14,230 --> 00:10:16,150
side with all your expenses are
up.

301
00:10:16,150 --> 00:10:17,770
And I see you getting down on
yourself.

302
00:10:17,770 --> 00:10:19,710
And I see you being stressed out.

303
00:10:19,710 --> 00:10:21,410
And so maybe you were living in

304
00:10:21,410 --> 00:10:23,510
2021. 2020 2022 maybe your
expenses were living in that world

305
00:10:23,510 --> 00:10:27,590
and the comp your top line revenue
isn't matching that anymore so i

306
00:10:28,100 --> 00:10:31,380
don't know i'm not going to tell
you what to do there but like

307
00:10:31,380 --> 00:10:37,320
figure that out change what you're
doing there or go i need my comp i

308
00:10:37,320 --> 00:10:40,900
want my comp to be that so what
does that mean so this is where we

309
00:10:41,940 --> 00:10:46,680
come in part two and there's a
book out there and dan kennedy

310
00:10:46,680 --> 00:10:49,820
wrote it with some other guy i
can't remember and i can't

311
00:10:49,820 --> 00:10:53,340
remember the name of the book i'm
sorry i read this long ago The

312
00:10:53,500 --> 00:10:55,540
concept is 10X is easier than 2X.

313
00:10:55,540 --> 00:10:59,490
And I came onto this, again, from

314
00:10:59,490 --> 00:10:59,890
Christina Crosby.

315
00:10:59,890 --> 00:11:01,330
So she's a broker in our industry.

316
00:11:01,330 --> 00:11:02,590
She's doing some really cool
things.

317
00:11:02,590 --> 00:11:04,730
She started a podcast.

318
00:11:04,730 --> 00:11:05,270
Go check it out.

319
00:11:05,270 --> 00:11:06,270
And her goal is to help moms.

320
00:11:06,270 --> 00:11:08,130
Help moms become mortgage brokers

321
00:11:08,130 --> 00:11:11,370
and make $100K a year and more.

322
00:11:11,370 --> 00:11:12,230
That's her jig.

323
00:11:12,230 --> 00:11:13,530
So she posted an awesome post.

324
00:11:13,530 --> 00:11:14,510
And this post was basically like,

325
00:11:14,510 --> 00:11:15,590
hey, are you doing these basic
things?

326
00:11:15,590 --> 00:11:18,690
And I read it and I'm like, oh, it
like spoke my heart.

327
00:11:18,690 --> 00:11:21,670
I'm like all the things that we
talk about all the time.

328
00:11:21,670 --> 00:11:24,130
She just summarized into one big
thing and she put her influence on

329
00:11:24,130 --> 00:11:25,600
and I loved it.

330
00:11:25,600 --> 00:11:27,540
And so she brought this top of

331
00:11:27,660 --> 00:11:27,720
mind.

332
00:11:27,720 --> 00:11:31,960
That's why it's top of mind while

333
00:11:31,960 --> 00:11:34,300
I'm doing this podcast.

334
00:11:34,300 --> 00:11:35,500
So thank you, Christina.

335
00:11:35,720 --> 00:11:37,940
Christina with a K. Okay, so 10X
is easier than 2X.

336
00:11:37,940 --> 00:11:43,020
So if you're trying to go from 100
to 200, we always equate that.

337
00:11:43,020 --> 00:11:47,600
from go to 10 million to 20 mil,
we equate that with, hey, I just

338
00:11:47,600 --> 00:11:50,040
need to keep doing more of the
same.

339
00:11:50,040 --> 00:11:53,340
So I need to like, instead of me
doing 10 opens a day, I need to do

340
00:11:53,340 --> 00:11:53,940
20 opens a day.

341
00:11:53,940 --> 00:11:56,000
Instead of me trying to reach out

342
00:11:56,000 --> 00:11:59,180
to two referral partners a day, I
need to reach out to four.

343
00:11:59,180 --> 00:12:01,000
And you kind of just go to that.

344
00:12:01,000 --> 00:12:02,200
Like that's the math equation you

345
00:12:02,420 --> 00:12:03,880
have in your head that you think
works.

346
00:12:03,880 --> 00:12:06,220
And in theory, It does if you're
mapping it out on a board and

347
00:12:06,220 --> 00:12:10,460
you're like, hey, I did this to
get this.

348
00:12:10,720 --> 00:12:14,080
Now I need to do this to get this.

349
00:12:14,080 --> 00:12:15,540
Yeah, but the part you no one

350
00:12:15,820 --> 00:12:18,960
talks about is that you're trading
time for money, right?

351
00:12:18,960 --> 00:12:20,580
You're trading your own time for
the money.

352
00:12:21,120 --> 00:12:22,560
And at some point, you just get
burned out.

353
00:12:22,560 --> 00:12:25,040
You get burned out because now
you're just grinding and you're

354
00:12:25,040 --> 00:12:25,440
grinding harder.

355
00:12:25,440 --> 00:12:27,280
So you went from grinding at 10

356
00:12:27,280 --> 00:12:29,740
mil to now knowing you need to go
to 20.

357
00:12:29,740 --> 00:12:33,040
So then you just think I have to
grind double as hard.

358
00:12:33,040 --> 00:12:34,820
And that's just been put out there
in a lot of different industries.

359
00:12:34,820 --> 00:12:36,200
And unfortunately, it's not true.

360
00:12:36,200 --> 00:12:37,360
And so the mentality around the

361
00:12:37,360 --> 00:12:41,040
10X is easier than the 2X.

362
00:12:41,040 --> 00:12:44,690
If your goal was to go from 10 mil

363
00:12:44,690 --> 00:12:46,190
to 100 mil, you wouldn't be able
to think like that.

364
00:12:46,190 --> 00:12:49,230
You would not be able to sit there
and go, instead of doing 10 opens,

365
00:12:49,230 --> 00:12:50,210
I just do 100 opens.

366
00:12:50,210 --> 00:12:52,010
There's no fucking way.

367
00:12:52,010 --> 00:12:56,470
100 opens a day, sure, you can do
it for a little bit of time, but

368
00:12:56,470 --> 00:12:57,670
then you just burn out.

369
00:12:57,670 --> 00:13:00,030
It's not a business model.

370
00:13:00,030 --> 00:13:01,890
Right?
Remember, there's 20 % of the

371
00:13:01,890 --> 00:13:04,810
things you do create 80 % of the
revenue.

372
00:13:04,810 --> 00:13:06,570
It's the old 80 -20 rule.

373
00:13:06,570 --> 00:13:07,190
We all know this rule.

374
00:13:07,190 --> 00:13:09,110
We all hear it, but then none of
us live by it.

375
00:13:09,110 --> 00:13:11,050
And so I'm of the opposite.

376
00:13:11,050 --> 00:13:12,670
I'm like, I'm going to shoot for

377
00:13:12,670 --> 00:13:18,390
the 10x and just figure out my
time and energy on those things

378
00:13:18,390 --> 00:13:19,830
because now I'm getting leverage
on my time.

379
00:13:19,830 --> 00:13:22,770
And if I fall somewhere in
between, great, but my mindset's

380
00:13:22,770 --> 00:13:22,910
shifted.

381
00:13:22,910 --> 00:13:24,790
It doesn't mean work harder.

382
00:13:24,790 --> 00:13:25,550
The cliche, work smarter.

383
00:13:25,550 --> 00:13:26,990
It's so true.

384
00:13:26,990 --> 00:13:29,990
So if you're sitting here trying
to go, I did 100, I want to go to

385
00:13:29,990 --> 00:13:30,170
150.

386
00:13:30,170 --> 00:13:33,910
I did 200, I want to get to 250

387
00:13:33,910 --> 00:13:34,130
,000.

388
00:13:34,290 --> 00:13:35,030
We're 20 at 25.

389
00:13:35,030 --> 00:13:35,690
It's like that incremental bump.

390
00:13:35,690 --> 00:13:36,650
You never get out of this mindset

391
00:13:36,650 --> 00:13:37,550
of trading time for money.

392
00:13:37,550 --> 00:13:40,340
And so I'm sure if you could map

393
00:13:40,340 --> 00:13:43,900
out the 20 % of the activities you
do to bring in 80 % of your

394
00:13:44,900 --> 00:13:48,060
revenue, if you actually map that
out and you said, hey, I did 20

395
00:13:48,060 --> 00:13:48,200
million.

396
00:13:48,200 --> 00:13:51,040
What are the 20 % of my month, my

397
00:13:51,300 --> 00:13:54,520
week, my activities, my calendar?
What do I actually do that brings

398
00:13:54,520 --> 00:13:56,360
in 16 mil a day?
It'll become pretty evident.

399
00:13:56,360 --> 00:13:57,680
And usually it comes down to
leverage.

400
00:13:57,680 --> 00:14:01,640
And if you want to go 10x your
revenue, and even if you hit 500k

401
00:14:01,640 --> 00:14:04,000
instead of the million, good for
you.

402
00:14:04,580 --> 00:14:06,240
400k, good for you.

403
00:14:06,440 --> 00:14:08,500
300k, good for you.

404
00:14:08,500 --> 00:14:10,800
I'll tell you now, you'll sure
shit have a chance to do it.

405
00:14:10,800 --> 00:14:14,100
If you're trying to go from 20 to
30, and you're just like, I need

406
00:14:14,240 --> 00:14:20,400
to do more of the same, it's going
to be really hard for you to get

407
00:14:20,400 --> 00:14:20,800
there.

408
00:14:20,800 --> 00:14:22,060
And it's a mindset thing.

409
00:14:22,180 --> 00:14:24,500
If you just did the work, you
would get there.

410
00:14:24,500 --> 00:14:27,220
But most of you won't do it.

411
00:14:27,220 --> 00:14:29,360
You're going to get burned out

412
00:14:29,360 --> 00:14:32,500
because you're going to be like,
well, I did five hours across

413
00:14:32,500 --> 00:14:38,550
things, so now I have to do 10,
and that's cool, but I have to do

414
00:14:38,550 --> 00:14:41,410
it for the whole year now.

415
00:14:41,410 --> 00:14:43,230
And you're just like, some people

416
00:14:43,230 --> 00:14:45,270
are wired and they can get that.

417
00:14:45,270 --> 00:14:48,390
Other people, it's like, no, no,

418
00:14:48,390 --> 00:14:51,090
no. We have to rewire the way
you're thinking about this.

419
00:14:51,090 --> 00:14:53,390
You have to like sit with this.

420
00:14:53,390 --> 00:14:54,150
Okay.

421
00:14:54,150 --> 00:14:57,410
And this is an exercise I do all
the time.

422
00:14:57,410 --> 00:14:59,670
Me and my team do all the time.

423
00:14:59,670 --> 00:15:01,950
We go, man, we got so many things

424
00:15:01,950 --> 00:15:03,350
we're doing because we do.

425
00:15:03,350 --> 00:15:05,210
You end up start doing all these

426
00:15:05,660 --> 00:15:05,980
things.

427
00:15:05,980 --> 00:15:06,880
And then all of a sudden we're

428
00:15:06,880 --> 00:15:10,440
back to the number one problem
mortgage brokers have, which is

429
00:15:10,440 --> 00:15:12,960
where should I spend my time?
I spend my time?

430
00:15:12,960 --> 00:15:17,140
Where do I get highest and best
use for my time?

431
00:15:17,140 --> 00:15:20,040
And if I'm just talking mortgage
brokering, I'm just talking CEO,

432
00:15:20,040 --> 00:15:21,380
I'm talking top line revenue.

433
00:15:21,380 --> 00:15:22,800
That's all I'm talking in this

434
00:15:22,900 --> 00:15:23,420
conversation.

435
00:15:23,420 --> 00:15:24,900
I'm not getting into the emotional

436
00:15:24,900 --> 00:15:26,660
side of it and how I feel and I'm
helping people.

437
00:15:26,660 --> 00:15:28,160
I'm getting into if I'm just being
a CEO and I'm going, who?

438
00:15:28,160 --> 00:15:31,100
And if you mapped out where you're
spending your time right now, what

439
00:15:31,100 --> 00:15:33,320
you're actually doing and how it
equates to top line revenue in

440
00:15:33,320 --> 00:15:35,740
your business, and you map that
all out right now, and then you

441
00:15:36,740 --> 00:15:37,720
sat in a boardroom.

442
00:15:37,720 --> 00:15:39,820
and there were investors in there

443
00:15:39,820 --> 00:15:42,900
who were looking to invest or
maybe buy your book, and they're

444
00:15:43,020 --> 00:15:43,920
like, show me your plan.

445
00:15:43,920 --> 00:15:45,480
Show me what you do.

446
00:15:45,480 --> 00:15:47,080
You'd be embarrassed to open up
the booklet.

447
00:15:47,080 --> 00:15:48,840
You'd be like, oh, fuck no. Hell
no. Yeah, I'm good.

448
00:15:48,840 --> 00:15:50,600
I'll just keep grinding away at my
mortgage business.

449
00:15:50,920 --> 00:15:55,720
I don't want to show you this.

450
00:15:55,720 --> 00:15:57,380
Like, I scroll Instagram a lot.

451
00:15:57,380 --> 00:15:58,140
Makes me no money.

452
00:15:58,140 --> 00:16:00,890
I like 10 people a day for a

453
00:16:00,890 --> 00:16:02,470
couple days on Instagram.

454
00:16:02,470 --> 00:16:03,570
Makes me no money.

455
00:16:03,570 --> 00:16:06,210
I send an email once a month.

456
00:16:06,210 --> 00:16:06,950
I make a little money.

457
00:16:06,950 --> 00:16:11,170
It's like, where's the things?
So the quicker you can get clarity

458
00:16:11,170 --> 00:16:15,790
on what are the 20 % of activities
you do, you'll realize the other

459
00:16:15,790 --> 00:16:16,710
stuff is fluff.

460
00:16:16,710 --> 00:16:18,870
what are the 20 % of activities

461
00:16:18,870 --> 00:16:21,530
you do, you'll realize the other
stuff is This podcast is brought

462
00:16:21,530 --> 00:16:22,470
to you by Americana.

463
00:16:22,470 --> 00:16:25,310
It's 5 .17 and there is this old

464
00:16:25,310 --> 00:16:25,730
lady.

465
00:16:25,870 --> 00:16:26,890
there is this old lady.

466
00:16:26,890 --> 00:16:27,970
It's why I love Kelowna.

467
00:16:27,970 --> 00:16:28,710
I don't know.

468
00:16:28,710 --> 00:16:32,090
It's what is it?
It's like five above right now.

469
00:16:32,090 --> 00:16:36,050
She's out with a lawn chair, one
of those lower ones that you sit

470
00:16:36,050 --> 00:16:38,350
in the beach and she's sitting in
the water.

471
00:16:38,670 --> 00:16:39,250
So cool.

472
00:16:39,250 --> 00:16:39,930
Love it.

473
00:16:39,930 --> 00:16:41,990
Sorry, not even a better story
there.

474
00:16:41,990 --> 00:16:42,590
That was that.

475
00:16:42,590 --> 00:16:45,190
So the quicker you can realize

476
00:16:45,190 --> 00:16:48,150
what the 20 % of actions are, the
quicker you're going to be like,

477
00:16:48,150 --> 00:16:53,130
the 20 % of actions are, quicker
you're going to be like, oh my

478
00:16:53,590 --> 00:16:56,130
God, like, yeah, that's just what
I need to do.

479
00:16:56,130 --> 00:17:01,620
When I was brokering and my claim
to fame was 40 or 50 mil doing 12

480
00:17:01,620 --> 00:17:06,180
hours a week, it's why I started
the first podcast, which was the

481
00:17:06,180 --> 00:17:07,300
12 -hour broker.

482
00:17:07,300 --> 00:17:10,760
It was a great name.

483
00:17:10,760 --> 00:17:12,220
Why I switched?
Not sure.

484
00:17:12,220 --> 00:17:12,880
Doesn't matter.

485
00:17:12,880 --> 00:17:17,119
But it was because I only focused

486
00:17:09,819 --> 00:17:15,960
on the same thing over and over
and over and over and over and

487
00:17:15,960 --> 00:17:16,319
over.

488
00:17:16,319 --> 00:17:19,119
And I saw all these other people,

489
00:17:19,119 --> 00:17:26,660
mortgage brokers, running around
like chickens with their head cut

490
00:17:26,660 --> 00:17:27,020
off.

491
00:17:27,020 --> 00:17:27,260
And they're like, oh, I'm doing

492
00:17:27,380 --> 00:17:27,440
this.

493
00:17:27,440 --> 00:17:27,760
They're doing that.

494
00:17:27,760 --> 00:17:30,600
So they're like running around and
I'm like, they don't see it.

495
00:17:30,600 --> 00:17:33,420
I feel like one of those things,
like they don't see it.

496
00:17:33,420 --> 00:17:34,280
They don't get it.

497
00:17:34,280 --> 00:17:35,000
They're doing, why are they doing

498
00:17:35,000 --> 00:17:35,940
that?
Why would they do that?

499
00:17:37,160 --> 00:17:39,460
Have they done this?
Like I'd watch people do this.

500
00:17:39,460 --> 00:17:42,000
I talk to people and then I'd
explain what I do.

501
00:17:42,000 --> 00:17:46,620
And they're like, but I don't
understand how you're doing so

502
00:17:46,620 --> 00:17:47,040
many files.

503
00:17:47,040 --> 00:17:44,400
And I'm like, it's because my

504
00:17:44,400 --> 00:17:46,960
day's not full of fluff.

505
00:17:46,960 --> 00:17:47,800
I've articulated to my brain where

506
00:17:47,800 --> 00:17:51,200
the 20 % of my actions, it's the
80 -20 rule.

507
00:17:52,120 --> 00:17:54,200
Like you can't break this rule.

508
00:17:54,200 --> 00:17:55,940
You make 80 % of your money from

509
00:17:55,940 --> 00:17:58,820
the 20%, but all of you are trying
to get 100 % of the money, which

510
00:17:58,820 --> 00:18:01,980
means you have to do 100 % of the
activities.

511
00:18:01,980 --> 00:18:06,100
Instead, I get a four to one on
everything I do.

512
00:18:06,100 --> 00:18:08,460
I do 20 % of the stuff.

513
00:18:08,460 --> 00:18:10,220
I get 80 % of the money.

514
00:18:10,220 --> 00:18:12,780
I get a four to one.

515
00:18:12,780 --> 00:18:15,840
You want 100 % of the money means

516
00:18:15,840 --> 00:18:19,400
you have to do all the shit, which
means you're getting one -to -one.

517
00:18:19,400 --> 00:18:23,080
You get zero leverage.

518
00:18:23,080 --> 00:18:24,280
Ah, hopefully this is punching

519
00:18:24,280 --> 00:18:26,320
some of you in the face.

520
00:18:26,320 --> 00:18:27,200
And you're sitting there and

521
00:18:27,200 --> 00:18:30,660
you're about to write on a blank
piece of paper, a book, a Word

522
00:18:31,380 --> 00:18:32,340
doc, a whiteboard.

523
00:18:32,340 --> 00:18:32,940
I don't care.

524
00:18:32,940 --> 00:18:37,180
Your granite countertop probably
be good because it'll stay there

525
00:18:37,180 --> 00:18:39,620
and you'll see it every day.

526
00:18:39,620 --> 00:18:42,300
That might be best with a Sharpie.

527
00:18:42,300 --> 00:18:43,240
Your spouse will love you.

528
00:18:43,320 --> 00:18:44,440
The next people to buy your house

529
00:18:44,440 --> 00:18:46,180
will be like, what the fuck?
But do that.

530
00:18:46,180 --> 00:18:48,540
So map out what are the things I
do?

531
00:18:48,540 --> 00:18:53,710
And if you don't know where you
get your deals from, that's a

532
00:18:53,710 --> 00:18:54,230
different problem.

533
00:18:54,230 --> 00:18:55,210
But it's a problem.

534
00:18:55,330 --> 00:18:59,630
Because how do you know what to do
if you don't know where the deals

535
00:18:59,630 --> 00:19:01,910
are coming from?
You don't even know where you're

536
00:19:01,910 --> 00:19:02,070
going.

537
00:19:02,070 --> 00:19:05,870
I don't even know where I want to

538
00:19:05,870 --> 00:19:07,590
go because I haven't figured out
the destination.

539
00:19:07,590 --> 00:19:12,270
So I mapped this out and I was
like, I need to make sure my top

540
00:19:12,270 --> 00:19:14,110
six referral partners are fucking
locked up.

541
00:19:14,110 --> 00:19:15,230
Locked the motherfucker up.

542
00:19:15,230 --> 00:19:16,070
Weekly updates, events.

543
00:19:16,070 --> 00:19:19,140
What do they want to do?
I'm doing it.

544
00:19:19,140 --> 00:19:21,060
They want to golf?
I fucking hate golfing.

545
00:19:21,060 --> 00:19:21,460
I will golf.

546
00:19:21,460 --> 00:19:22,780
They want to hike?

547
00:19:22,780 --> 00:19:23,560
I don't like hiking.

548
00:19:23,560 --> 00:19:24,100
I will hike.

549
00:19:24,100 --> 00:19:28,740
You want to go for lunch?
Well, I like lunch.

550
00:19:28,740 --> 00:19:29,060
I'll do that.

551
00:19:29,060 --> 00:19:31,260
You want to go for a beer?

552
00:19:31,260 --> 00:19:31,780
I like beer.

553
00:19:31,780 --> 00:19:32,400
I'll do that.

554
00:19:32,400 --> 00:19:33,020
Do it all.

555
00:19:33,020 --> 00:19:37,080
You want to go to the Jays game?

556
00:19:37,080 --> 00:19:37,520
I'm indifferent.

557
00:19:37,740 --> 00:19:38,300
I'll go.

558
00:19:38,300 --> 00:19:40,260
I'm going to lock them down.

559
00:19:40,260 --> 00:19:41,320
I'm going to stay connected.

560
00:19:41,320 --> 00:19:41,780
I'm going to.

561
00:19:42,520 --> 00:19:46,140
So a lot of my energy was into my

562
00:19:46,140 --> 00:19:48,760
referral partners, making sure I
had every deal that came across

563
00:19:48,760 --> 00:19:51,000
their plate, not just the ones
they felt.

564
00:19:51,000 --> 00:19:53,640
I wanted them to fight for me.

565
00:19:53,640 --> 00:19:55,080
I want them to understand my

566
00:19:55,080 --> 00:19:57,540
passion so well, so much.

567
00:19:57,540 --> 00:20:00,740
And we were so aligned that I knew

568
00:20:00,980 --> 00:20:04,540
their families and they knew my
family and we were so aligned.

569
00:20:04,540 --> 00:20:07,300
That when they were talking to
clients, they would not work with

570
00:20:07,300 --> 00:20:08,260
the client unless they spoke to
me.

571
00:20:08,260 --> 00:20:10,540
Even if they were pre -approved
somewhere else.

572
00:20:10,540 --> 00:20:11,920
I would give them at least a
second opinion.

573
00:20:11,920 --> 00:20:14,880
And if you're talking about
financial advisors, you need to

574
00:20:14,880 --> 00:20:15,320
get in there.

575
00:20:15,320 --> 00:20:15,820
This is your plan.

576
00:20:15,820 --> 00:20:19,560
This is better if you have
financial planners you're working

577
00:20:20,960 --> 00:20:26,020
with or like this is how tight you
need to get.

578
00:20:26,020 --> 00:20:26,520
So there's that.

579
00:20:26,660 --> 00:20:28,100
Like it's all the same shit I'm

580
00:20:28,300 --> 00:20:29,960
going to talk about here.

581
00:20:29,960 --> 00:20:31,580
I'm just going to remind you

582
00:20:31,700 --> 00:20:31,900
again.

583
00:20:31,900 --> 00:20:34,040
And now I'm getting fired up.

584
00:20:34,540 --> 00:20:36,080
There's still fire on the clock.

585
00:20:36,220 --> 00:20:38,060
because these 20 % of things is

586
00:20:38,380 --> 00:20:38,980
what built my business.

587
00:20:38,980 --> 00:20:40,730
Or you could be the chicken, the

588
00:20:40,730 --> 00:20:42,510
head cut off, running around, just
balk, balking in the street,

589
00:20:42,510 --> 00:20:43,150
right?
Not my jam.

590
00:20:43,330 --> 00:20:46,370
This podcast is brought to you by
Americom.

591
00:20:46,370 --> 00:20:47,130
So email marketing.

592
00:20:47,750 --> 00:20:50,350
You guys are sleepy time on it

593
00:20:50,350 --> 00:20:51,250
once a week.

594
00:20:51,250 --> 00:20:52,710
I'm not even going to get into it.

595
00:20:52,710 --> 00:20:54,430
I'm not going to beat that dead
horse.

596
00:20:54,430 --> 00:20:57,190
Once a week, value, value, value,
ask.

597
00:20:57,190 --> 00:20:57,950
Value, value, value, ask.

598
00:20:57,950 --> 00:20:59,750
That means every month there's an

599
00:20:59,750 --> 00:21:01,570
ask going out to your database.

600
00:21:01,570 --> 00:21:03,250
And guess what?

601
00:21:03,250 --> 00:21:07,170
Your database is going to be so
warm because you've been writing

602
00:21:07,170 --> 00:21:09,110
these emails, which is giving them
value, that when a rate special

603
00:21:09,110 --> 00:21:13,020
comes out, when rates are going up
and you're offering rate holds,

604
00:21:13,020 --> 00:21:16,020
when rates are going down and
you're offering rate arbitrage,

605
00:21:16,020 --> 00:21:20,080
when whatever happens, you reach
out and you go, do you need this?

606
00:21:20,080 --> 00:21:23,680
And then you reach out and you go,
I'm offering a free second

607
00:21:23,680 --> 00:21:24,060
opinion.

608
00:21:24,340 --> 00:21:25,540
Hey, I'm offering a free audit of

609
00:21:25,540 --> 00:21:25,840
your mortgage.

610
00:21:25,840 --> 00:21:27,880
Hey, I'm offering you rate

611
00:21:27,880 --> 00:21:30,240
insurance so I'll protect your
rate because I just need your

612
00:21:30,240 --> 00:21:30,380
info.

613
00:21:30,380 --> 00:21:33,080
When you go and offer that stuff,

614
00:21:33,080 --> 00:21:35,200
they put their hand up and they
go, yeah, I'm in.

615
00:21:35,200 --> 00:21:35,840
I'll do that.

616
00:21:35,840 --> 00:21:36,740
But if you're not keeping them

617
00:21:36,740 --> 00:21:39,000
warm and then you come in, you're
like, ah, it doesn't work.

618
00:21:39,000 --> 00:21:40,570
No one books calls.

619
00:21:40,570 --> 00:21:41,630
Well, no shit, Sherlock.

620
00:21:41,630 --> 00:21:42,150
Really?
The fuck?

621
00:21:42,150 --> 00:21:42,330
Yeah.

622
00:21:42,330 --> 00:21:43,890
And if you're like, I can't send

623
00:21:43,890 --> 00:21:44,370
weekly emails.

624
00:21:44,590 --> 00:21:44,830
Okay.

625
00:21:44,830 --> 00:21:50,490
That you just keep walking by the
big piles of money and you keep

626
00:21:50,490 --> 00:21:52,250
doing the dumb shit you're about
to go do today.

627
00:21:52,250 --> 00:21:56,810
That you think is more important
than you go open an AI.

628
00:21:56,810 --> 00:21:57,670
Go open your favorite AI.

629
00:21:57,670 --> 00:21:58,390
And start going down a rabbit hole

630
00:21:58,390 --> 00:22:01,070
of solving some problem that you
don't have in your business or

631
00:22:01,190 --> 00:22:04,270
shaving two minutes off something
instead of like connecting with

632
00:22:04,270 --> 00:22:04,830
your database.

633
00:22:04,830 --> 00:22:06,230
So you got that, right?

634
00:22:06,230 --> 00:22:08,980
And then what's the marketing
thing you do to get your foot in

635
00:22:08,980 --> 00:22:11,580
the door?
Mine was webinars.

636
00:22:11,580 --> 00:22:13,800
What is yours?
Is yours going to be co -create

637
00:22:14,020 --> 00:22:16,400
content with referral partners?
Is yours going to be?

638
00:22:16,400 --> 00:22:17,360
I wasn't on social.

639
00:22:17,360 --> 00:22:18,900
I built a very nice business on

640
00:22:18,900 --> 00:22:23,460
social, but the number one mistake
I made was not going on social.

641
00:22:23,460 --> 00:22:23,760
Shit.

642
00:22:23,760 --> 00:22:24,960
I would have blown up if I was on

643
00:22:24,960 --> 00:22:25,560
social with my webinars and
whatnot.

644
00:22:25,560 --> 00:22:27,580
But I realized, okay, I'm just
going to keep doing presentations

645
00:22:27,580 --> 00:22:29,460
in person, in Zoom calls, with
recorded webinars, with evergreen

646
00:22:29,460 --> 00:22:29,760
webinars.

647
00:22:29,760 --> 00:22:31,540
I keep doing the same webinar over

648
00:22:31,540 --> 00:22:33,740
and over and over again, over 200
times, in person, in person, going

649
00:22:33,740 --> 00:22:35,240
in real estate.

650
00:22:35,240 --> 00:22:36,260
And so that was my model because

651
00:22:36,340 --> 00:22:37,960
that's where I made the money.

652
00:22:38,780 --> 00:22:40,840
I knew that one out of every seven

653
00:22:40,840 --> 00:22:42,660
people who came to a webinar,
would turn into a closed file in

654
00:22:42,660 --> 00:22:43,540
three or six months.

655
00:22:43,540 --> 00:22:45,680
Think of that.

656
00:22:46,020 --> 00:22:49,200
I had the math dialed down.

657
00:22:49,200 --> 00:22:51,160
So, and I knew if 100 people

658
00:22:51,480 --> 00:22:53,940
signed up for a webinar, I knew 50
people showed up.

659
00:22:53,940 --> 00:22:57,760
Out of those 50 people, this is in
person or online.

660
00:22:57,760 --> 00:23:00,160
Out of those 50 people, that's
seven deals.

661
00:23:00,160 --> 00:23:02,520
And that doesn't include referrals
that come out of it.

662
00:23:03,300 --> 00:23:06,710
So I'm like, I have a conversion
tool here that gets one out of

663
00:23:06,710 --> 00:23:09,230
seven people to a closed file in
three or six months.

664
00:23:09,230 --> 00:23:13,410
with a $5 ,000 price tag, but $5
,000 attached to it.

665
00:23:13,410 --> 00:23:18,350
So I know that every webinar I do
where there's 100 people who

666
00:23:18,350 --> 00:23:20,110
register and seven people who do
deals, that's $35 ,000 in revenue.

667
00:23:20,110 --> 00:23:20,670
Ah, Rousehopper.

668
00:23:21,010 --> 00:23:21,130
See?

669
00:23:21,130 --> 00:23:24,230
So then why would I go do all the
other dumb shit everyone's doing?

670
00:23:24,430 --> 00:23:27,330
And I'm not saying some of that
stuff doesn't work, but these were

671
00:23:27,330 --> 00:23:29,490
the 20 % of things I know worked.

672
00:23:29,490 --> 00:23:31,470
And I would throw social media in

673
00:23:31,470 --> 00:23:31,650
there.

674
00:23:31,650 --> 00:23:33,990
And then two hours a day would

675
00:23:33,990 --> 00:23:34,470
just be on social.

676
00:23:34,470 --> 00:23:35,830
I'd be doing Instagram lives,

677
00:23:35,830 --> 00:23:39,310
TikTok lives, building my brand,
story, story, stories, boring,

678
00:23:39,310 --> 00:23:39,710
boring, boring.

679
00:23:39,710 --> 00:23:43,910
Be analyzing all my discovery

680
00:23:43,910 --> 00:23:45,370
calls on social media.

681
00:23:45,370 --> 00:23:47,710
I'd be doing my regular recorded

682
00:23:47,710 --> 00:23:47,890
reels.

683
00:23:47,890 --> 00:23:49,570
I'd be doing like all that stuff.

684
00:23:49,570 --> 00:23:49,770
Okay.

685
00:23:49,770 --> 00:23:50,950
So this is me.

686
00:23:51,210 --> 00:23:52,790
I'm going to keep this podcast
shorter.

687
00:23:52,790 --> 00:23:53,630
I always say that shit.

688
00:23:53,630 --> 00:23:53,890
The 8020.

689
00:23:53,890 --> 00:23:54,610
right?
10X easier than 2X.

690
00:23:54,610 --> 00:23:56,810
So just to summarize, I wanted to
give you some stuff.

691
00:23:56,810 --> 00:23:59,270
This was top of mind.

692
00:23:59,270 --> 00:24:01,300
So Christina, thank you for

693
00:24:01,300 --> 00:24:02,540
bringing this top of mind again.

694
00:24:02,540 --> 00:24:03,860
It's a topic that's never going

695
00:24:04,080 --> 00:24:04,220
away.

696
00:24:04,220 --> 00:24:06,680
And this is an awesome, awesome

697
00:24:06,940 --> 00:24:11,100
exercise for you and your team,
you and some other brokers to just

698
00:24:11,100 --> 00:24:13,420
sit down and like equate dollars.

699
00:24:13,420 --> 00:24:14,740
So like dollar signs, I remember

700
00:24:14,740 --> 00:24:15,260
doing this.

701
00:24:15,260 --> 00:24:17,360
I'd have like my dollar sign.

702
00:24:17,360 --> 00:24:20,600
$1 sign meant not a lot of money.

703
00:24:20,600 --> 00:24:22,480
$5 signs meant a lot of money.

704
00:24:22,480 --> 00:24:25,960
So I would write out all the
things I do in a day.

705
00:24:25,960 --> 00:24:28,760
and through a week and look at the
calendar if you don't know.

706
00:24:29,120 --> 00:24:33,100
Like there's some bigger problems
if you don't know this stuff.

707
00:24:33,100 --> 00:24:35,480
And then just put dollar signs
attached to each one.

708
00:24:35,480 --> 00:24:39,340
And then the ones that have five
dollar signs and maybe even four,

709
00:24:39,340 --> 00:24:48,100
you just do those and all the
other stuff, you just don't do.

710
00:24:48,100 --> 00:24:48,780
You just stop doing.

711
00:24:48,780 --> 00:24:50,820
And that might mean you stopped

712
00:24:50,820 --> 00:24:52,960
shooting the shit with your
favorite three brokers.

713
00:24:52,960 --> 00:24:54,840
about stuff because their business
is going nowhere.

714
00:24:54,840 --> 00:24:56,320
No one's really learning from each
other.

715
00:24:56,320 --> 00:24:57,930
It's more of a social gathering.

716
00:24:57,930 --> 00:25:00,070
Go find the people who are running

717
00:25:00,070 --> 00:25:01,650
really good businesses and spend
time with them.

718
00:25:01,650 --> 00:25:04,710
I'm just throwing that out there.

719
00:25:04,890 --> 00:25:08,110
It's like an example of something.

720
00:25:08,290 --> 00:25:12,930
Maybe you have this so -called
mastermind you're a part of, and

721
00:25:12,930 --> 00:25:16,270
it's like you and a bunch of
people who've all plateaued and

722
00:25:16,270 --> 00:25:17,030
you're all searching for answers.

723
00:25:17,030 --> 00:25:20,730
And it's like, that's not a $4

724
00:25:20,730 --> 00:25:21,870
sign task, right?
Something to think about.

725
00:25:22,050 --> 00:25:22,810
Anyways, that's it, kids.

726
00:25:22,810 --> 00:25:24,690
Appreciate the support.

727
00:25:25,200 --> 00:25:27,340
We have some awesome big podcasts
coming up.

728
00:25:27,340 --> 00:25:27,800
Love it.

729
00:25:28,040 --> 00:25:28,520
And thank you so much.

730
00:25:28,520 --> 00:25:28,660
Okay.

731
00:25:28,660 --> 00:25:29,380
Have a good day.