Thursday, June 29, 2006

The Parallels Of Industry

I have a friend that works in the home mortgage business. He originates loans for people trying to buy a home. He charges a lot for his services. So does his competition. Mortgage origination sounds complicated and difficult. Not just anybody can do it.

But anybody can just do it. You don't need a degree at all. You barely even need a license. Basically, all you need is customers that will pay you.

But customers don't know this. My friend's customers think he's spent years learning how to originate loans. They think that he knows a lot more than they do. And he does. To some extent. But only because he works in the field everyday.

Basically, originating a loan is no different than cleaning a house. Both fields require the same two things. Basic knowledge of the business and superior customer service.

That's how my friend makes a living. He's a glorified customer service specialist. Just like me. If he doesn't provide timely quotes and fast turnaround on loans, he loses business. If I don't provide consistent quality cleanings, I lose business.

Industries are different. I couldn't become a doctor tomorrow. I couldn't even become a mortgage originator tomorrow. But all industries are the same to some degree.

Provide lousy customer service and you have a lousy business. Provide great customer service and you have a great business. Think about it.

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