Prepping For 2025

More than 30 years ago, I was standing next to the guy who owned the company I was working at. I was in charge of one of his businesses, and he had a visitor he was showing around. They came up to me, and my boss introduced me to his guest. And then he said something that has stuck with me ever since. “This guy,” he said, pointing at me, “is pretty good at what he does. But when things get tough, that’s when he gets even better.”

I hadn’t realized what he had seen, but after he said that, I went back and thought about it. He was right, but the reasons weren’t as complimentary as one might hope (although I know he meant this as a compliment).

When things are going swimmingly, if you’re basically competent, it’s easy to do well. After all, everything’s on your side. The market is good, the rates are good, and everyone’s hopeful and confident, so business is easy to come by. Some folks maybe capitalize on good times more so than others, but it’s not a great achievement to bask in economic sunshine.

When business gets tighter, harder, and darker, it’s critical to start thinking about how to be innovative, to look at markets in a different light, and to consider what other ways you can generate revenue and sustain income. My boss was saying I was good at that, and I think I still am: I like keeping an open view of what might be coming a year or two out. But I realized that if I were really a good business leader, I would have been thinking about all those things when the market was going great. Instead, I was coasting on easy wins and only turned to a more thoughtful approach when I was forced to. If I’d been better at this earlier, I wouldn’t have had to scramble.

For loan originators now scrambling, we know there are techniques, tactics, and tricks to help secure those loan deals, fewer though they may be. We are glad to tell the stories of LOs who have successfully pivoted. But we’re also impressed by — and delighted to tell the stories of — local originators who laid the groundwork for their success now by being thoughtful and focused two years ago. Many of these success stories share the same characteristics: the LO didn’t just grab the easy money (refinances) but made sure to keep a solid footing with purchase partners, despite that being more time-consuming. Those relationships built then are a bank of profit now.

For many LOs, that’s a lesson to be learned for the next market turndown. For now, the imperative is to know every winning strategy, trend, and insight that can set you up for success. And then to think about what the market will also look like two years from now. The compliment shouldn’t be that we get innovative when we have to but that we never have to scramble in the first place.

STAFF

Vincent M. Valvo

CEO, PUBLISHER, EDITOR-IN-CHIEF

Beverly Bolnick

ASSOCIATE PUBLISHER

Christine Stuart NEWS DIRECTOR

Keith Griffin

SENIOR EDITOR

Gary Rogo

SPECIAL SECTIONS EDITOR

Mary Quinn

MULTIMEDIA PRODUCER

Erica Drzewiecki, Katie Jensen, Ryan Kingsley, Sarah Wolak

STAFF WRITERS

Regina Morgan

ADVERTISING SALES EXECUTIVE

Nichole Cakirca, Nicole Coughlin

ADVERTISING ASSOCIATES

Alison Valvo

DIRECTOR OF STRATEGIC GROWTH

Julie Carmichael

PROJECT MANAGER

Meghan Hogan

DESIGN MANAGER

Stacy Murray, Christopher Wallace GRAPHIC DESIGN MANAGERS

Navindra Persaud DIRECTOR OF EVENTS

William Valvo

UX DESIGN DIRECTOR

Andrew Berman

HEAD OF CUSTOMER OUTREACH AND ENGAGEMENT

Matthew Mullins

MULTIMEDIA SPECIALIST

Melissa Pianin

MARKETING & EVENTS ASSOCIATE

Kristie Woods-Lindig

ONLINE ENGAGEMENT SPECIALIST

Lydia Griffin MARKETING INTERN

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© 2023 American Business Media LLC. All rights reserved. Florida Originator Magazine is a trademark of American Business Media LLC. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to:

Vincent M. Valvo CEO. Publisher, Editor-in-Chief vvalvo@ambizmedia.com

American Business Media LLC 88 Hopmeadow St. Simsbury, CT 06089 Phone: (860) 719-1991 info@ambizmedia.com

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