4 minute read
MY BUSINESS
Inspired by the dream of a very nice car
William Tieu, 32, won the Financial Advice NZ Rising Star Award – Lending. As he tells Eric Frykberg, his entry into the mortgage business was highly unusual.
BY ERIC FRYKBERG
How did you get into this business?
I used to be an engineer doing structural design on bridges, and our company was working at Half Moon Bay in Auckland.
Every day, I would be walking to work along the marina, where there were always nice boats moored.
I thought to myself, ‘I don't know if I will ever own a boat like that working as an engineer’.
Then I noticed a really nice car that was parked nearby, and its number plate matched the writing on one of the banners on a building near the marina.
Once I got back into the office, I googled the name on the banner and sent off an email, saying I was looking for a business mentor.
I didn’t think much of it, because I thought people who own cars like that are usually very busy, but I then got an email in reply, asking me to come in for a chat. So, I did.
I did not even know what this man did for a living when I went in.
His name was Neil Inns and his business was called Professional Financial Group. It was a mortgage broking firm; he took me under his wing, and showed me what to do. That’s how I got into this business.
What job did he give you?
Initially it was just a bit of support, then I started studying for my Level Five in mortgage advising and insurance. I started working as an adviser after about a year.
It was hard at first, because I had gone from a salaried job to straight commission, so I had no income for quite a while, which definitely hurt.
But then I decided I would just have to go all in. I went hard.
Social media helped a lot. Many people said that social media did not work and that they had to pay for advertising, but I think it depends on how you approach it.
With a service-based industry, you need to provide value for money. A lot of people say, ‘If I am going to spend money, I want to get an instant return,’ but most people can see right through that.
It’s not just mortgages, it’s the same with any industry: engineering, accountancy or whatever.
And how has your career progressed from then?
I work for Goldsmith Mortgages now. I did about two years with Professional Financial Group, and then two years with Simply Finance.
I’ve been with Goldsmith Mortgages for three or four months.
Are you pleased you made the jump from engineering?
Yes, I love my job. The best thing about it is helping people get into their first home; that’s very rewarding, especially when a family had always been renting.
When they never thought they would actually live in their own home, because no-one had ever given them that kind of help to do so.
Can you give me an example?
There was a couple with a young child, who never thought they would be able to buy their own home.
They had not really been taught financial literacy or how to be wise with the way they managed their money.
They had a personal loan and they thought they had to pay that off before getting a mortgage.
When I submitted their application, I told the bank, ‘They’re earning a good income; yes, they have a personal loan; yes, they have only got a 10% deposit, but they have the income to service it.’
Once we got that through, they were over the moon.
What is the worst thing about your job?
It is definitely the paperwork, or the administrative stuff, that always bogs you down.
I spend about a quarter of my time on paperwork. But I suppose it’s not too bad, because my company has a really good operation to support us.
Did you ever get to buy that boat?
One day, one day. Though it was actually more about the car than the boat. It was an Audi R8 Coupe V10.
I haven't got it yet, but hopefully, in about five or 10 years, I will have a car like that.
What is your working day like?
That’s a bit hard to describe, because ever since Covid I’ve been working between our office in Newmarket and my home in Howick.
But when I am working from home, I wake up, get the kids ready, do all my reading about my day, and plan what I will be doing. Then it’s straight into it.
I time-block most of my day. I block out certain times of the day when I know I will have the time to get certain tasks completed and I set that time to do that work.
That is the most productive way for me to get my job done.
What is your favourite pastime?
I played quite a lot of computer games back in the day, so I do some gaming.
I play a bit of golf with colleagues; I do some swimming.
But most of my time is spent with my family.
Do you have a favourite book, or film, or piece of music?
My favourite book is “The One Thing” by Gary Keller.
It essentially says that if you want to achieve anything in life, you should break it down to the simplest task, do that task, and there will be exponential growth.
Don't worry about the end goal, whatever it is; just do one simple task a day, and it will snowball. ✚
