There was a great article in the WSJ yesterday about the Golden State Warriors. http://www.wsj.com/articles/the-golden-state-warriors-have-revolutionized-basketball-1459956975
The new owners in 2010 were Silicon Valley execs who used data to figure out that focusing on the 3 point shot would result in more wins. They pursued the strategy even though every traditionalist in the NBA insisted it would not work.
We of course instantly related this to JVM :).
When we replaced all of our loan officers with salaried analysts (with exceptional admin skills), we were told constantly by everyone that our model would never work. We almost gave in to the pressure, but are now very thankful we stayed the course.
I am pretty sure that Erin Piper is the Mortgage equivalent of Steph Curry.
The other lesson? Track and use your data to make business decisions.
We track everything – referrals by Realtor, referrals by region, referral conversion rates, sales cycles, co-marketing returns (much lower than most people realize), margins by type of loan, margins overall, etc.
Intelligent business decisions cannot be made without data. Gut instincts can only take you so far.
Founder/Broker | JVM Lending
(925) 855-4491 | DRE# 01524255, NMLS# 335646