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Keeping Your Main Thing the Main Thing...

By
Mortgage and Lending with Mortgage MLO #112932

Juggling2003 was a tough year for me.  Towards the end of 2002 I left a well-paying job in another line of work because I didn't like the direction the company was heading.  The owner / founder had sold the business and I could tell the new owners "didn't get" what made the company special and came in with an attitude that they knew better.  They were following the "Golden Rule" of "He who has the gold makes the rules" so this was their right.  They could (and did) do what they wanted to do and I was left to choose whether to stay or go.

So I left and entered the mortgage business full of optimism and confidence in myself.  Other people were making tons of money in the industry so I figured I could too.  But for some reason, it didn't click right away.  I felt the industry was a good fit for me and I have no complaints about the company I chose to work for because I'm still here, but my income was less than HALF what I was used to and I still had the SAME bills to pay.

As debt started piling up and the income still didn't come, I began to get desperate (not desperate enough to slash my spending to the bone, of course, just desperate to find ways to earn enough money to maintain the lifestyle I had grown accustomed to).  A buddy Chris in the mortgage office suggested that I come do what he was doing to earn some "extra money" - Selling cars on the weekend at those big Parking Lot events.

I had sold cars before and this seemed like a good idea.  Of course, it would be hard and tiring work - working Friday thru Sunday or Monday from early morning to late at night, but my friend was making some decent money most weekends.  So I was willing to do it - whatever it takes - never been afraid of hard work. 

I would need to have Friday's off from my mortgage job and several Monday's too, so I had to ask my mortgage boss's permission before I said "yes".  I was sure he'd be fine with it - people pretty much came and went as they pleased and he was already letting Chris do it - but I needed to ask.

His answer actually surprised me.  I hadn't ever considered him to be a wise-sage by any means, but the advice he gave me really got me thinking about choices, priorities, and direction.  "Did you like selling cars before?" he asked.  (He knew I didn't.)

"Uh, no.  But I was good at it," was my defense.

"Then why would you do something like that when it will take time, energy, and focus away from this job in order to chase a few dollars?  If you want a second job, what's stopping you from working more hours doing this?"

Parking Lot SaleHe was absolutely right, and I knew it.  So I passed on the car-selling gig and I began treating my first job as my second job too - working later, working weekends, doing whatever it took to get in front of as many prospects as I could.  And as my career began to click because of the extra effort I was investing in it, my car-selling buddy soon found himself out of the industry and chasing the "next" quick-fix he could find.

It wasn't easy, but I believe that the extra "second-job" effort I put in laid the groundwork for my being in the business today.  And without that effort, I would have likely been one of the thousands of former loan officers out there today looking for something else.

Don't get me wrong.  Second jobs can help you make it sometimes.  But before you automatically conclude that a second job will solve your problems, focus your efforts 100% towards keeping your main thing the main thing. 

For a quick history of the 40 Hour Work Week, check out my earlier blog on the subject.

Juggling Photo by:  Morbuto

Sale Photo by:  Cosmic Kitty

Ted Tyndall
Davidson Realty Inc. - Saint Augustine, FL
I will help You find the Home YOU want to Buy

Glenn, a great analogy. It's so easy to get temted to go take what seems to be the easy way. When it may not be the poper way for the long term.

Feb 05, 2010 06:20 AM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I am mentoring 2 friends in their start-up real estate property management business and one has a part-time business he has had for years.  NOW is when they need to be totally focused on their pm biz and he is still working at his other job....he needs to learn this lesson.

Feb 05, 2010 06:23 AM
GLENN LEACH
Mortgage - Puyallup, WA

Tough lesson to learn - especially when you feel you're doing the right thing to take care of your family.

Feb 05, 2010 06:31 AM
John Thomas
E3 Green HOMES - Boulder, CO
EcoBroker, MSEE, MBA

You make a good point Glenn...especially in this day and age where employment can be very unpredictable. I think if you pick something, almost anything, and then aim to be the best you can be at that you'll enjoy the rewards.

Feb 05, 2010 06:39 AM
John Howard
Century 21 LeMac Realty - Mountain Home, AR
GRI, Mountain Home, Arkansas 870-404-3614

Great lesson!  Thank You for posting it!

Feb 05, 2010 07:45 AM
Paul McFadden
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.

Glenn: Great post. Our careers mirror themselves. It's a small world. I started in the mortgage business in 2006. It has never been lights out for me and sometimes the only thing keeping me going is the love for the business and the company I work for. I know eventually all my hard work will pay off. One thing I have done is stick with one thing as you mentioned. I appreciate your post very much! Take care.

Feb 05, 2010 11:59 AM
Walter Grewe III
Long and Foster Realtors - Roanoke, VA
Realtor, SFR, A-REO, Roanoke Homes and Real Estate

Glenn,

Grest example of an old saying " Your raise becomes effective as soon as you are." Like Jeffrey Gitomer says" You gotta kick your own ass."

Feb 06, 2010 12:04 AM
Linda Schneider
Fast Newsletters - San Diego, CA
Fast Newsletters for Real Estate Agents

Keeping your main thing your main thing is the key to success. Really. If you're constantly chasing rainbows, you can't plant your feet and grow.

Feb 06, 2010 04:27 AM
R. Greg Osmond
Sutton Group-Capital Realty Ltd. - St Johns, NL
MBA, Red Maple Realty

Glenn,  Your honesty has got to be a big part of your brand. Promote it whenever you can without seeming Pius.  Congrats for hanging in there and making it happen as you are today!  And good on you for adding to you blog again.  I thought I was going to have to throw a dart your way. ;)

Feb 09, 2010 08:46 AM
GLENN LEACH
Mortgage - Puyallup, WA

Greg, Another piece of my 99 Ways to Get Out of Debt and Build Wealth series.  I send out something like this every week via email blast to my ever-growing list.  It must be working because I am very busy again (Thank God!).  Unfortunately, not all of these email blasts "fit" on Active Rain, but I am writing regularly.

Thanks for stopping by.  Keep an eye out and let me know when I'm slacking too much! 

Feb 09, 2010 08:58 AM
Scott Larson
First Weber Hedeman Group - Monroe, WI
SRES

There is a great temptation to go grab some extra cash in another venue but if you focus and work through it the pay off should be there. Thanks for the post

Feb 16, 2010 05:02 AM
Jay Schmitt
Keller Williams Keystone Realty - Gettysburg, PA
Gettysburg Real Estate Agent

Thanks, that was nice to read as I have been teetering on that line of a second job as I am a rookie. Helps me remember what my priority is.

Feb 19, 2010 01:18 AM
Lynn Johnson
Coldwell Banker Home Connection - Owatonna, MN
Owatonna, MN Real Estate

Glenn - Your words and experience really ring true.  We have a few agents who have taken on part-time and even full-time jobs because of the challenges in the market.  We've had similar conversations but the outcome didn't follow the same path that you chose.  I wonder if they had seen the wisdom in your post if they would have made the same decision.

Feb 22, 2010 01:55 PM
Phil Ross, MLO-150797
Doorway Home Loans - Tacoma, WA

Glenn, excellent post my friend. I think the topic of "Focus" is probably one of most under-rated components of business success.

Nov 26, 2011 12:33 PM