Have a podcast in 30 days

Without headaches or hassles

Creating a podcast can be a daunting task.

But, if you use the basic marketing principles:

* Who is your audience?

* What is the message for that audience?

* How are you going to deliver that message to that audience?

It can catapult you to great heights in your business (even if you've never done a podcast before).

Phil Treadwell did just that. He went from dropping off photocopied flyers at people's houses to gain clients….

….to creating more than 120+ podcast episodes that now garners him nearly $100 million a year in loans.

In this episode, he reveals how to use podcasting to magnetize new customers and multiply your profits.

Show highlights include:

  • Why posting content on Facebook gives you credibility to attract more clients (even if you are a rookie loan officer) (1:56)
  • How following Gary Vaynerchuk on Instagram adds thousands of your own followers (and turns those people into leads) (2:42)
  • How creating long form content hits the podcasting trifecta “video, audio, and written material” (and how it unlocks your mind to become a better loan officer) (6:00)
  • Why being consistent at writing loans negates the slumps of meeting with non-qualified borrowers (11:02)
  • The “70% Failure Rate” method that lets you be a top 5% earner (14:55)

Want to get your questions answered live? Head to MLOlive.com and discover how you could become a Millionaire Loan Officer!

Read Full Transcript

Welcome to The Millionaire Loan Officer podcast with your host, Scott Hudspeth sharing tools, tips and strategies so that you can go from a mortgage loan officer to a millionaire loan officer. It's your host, Scott Hudspeth.

Scotty: All right everybody, this is Scott Hudspeth with Millionaire Loan Officer powered by Mortgage Marketing Animal and The Loan Officer Breakfast Club. You haven't checked it out, go to loan officer breakfast club.com. We're having a good time, man. I don't know if you know about that, Phil, but I have a dear friend of mine on the call today that I've always admired and followed, and he's done some epic stuff. Just killing it in the marketplace. I know he's a, you know, I wish we could put that part that we've talked about before the podcast on the podcast, because that's private stuff that people really should hear, you know.

Phil: Yeah.

Scotty: But Phil man, you've done some, I dunno, man. You just, I got to meet you personally at a Florida event, which was just really cool. And from there on out, we were just been fast friends and it's been a good time. So, what's going on with you brother? Like you've had this podcast thing going for a long time. I think you started.

Phil: Yeah.

Scotty: Way before any of us and it's I think it's helped you do a lot of things. Tell me a little bit about yourself, man. [01:19.9]

Phil: Yeah, man. First of all, I appreciate that. Yeah, we met right at two years ago, I think it was into 2019. We were down there.

Scotty: Wow.

Phil: In Tampa and so I appreciate your friendship and, and guidance and, and setting the stage for a lot of cool stuff for the industry. But, but yeah, man, I, 17 years in the industry, I started out as a loan officer, had a good mentor, but he kind of threw me in the deep end of the pool and I carry black and white flyers around to realtors via my map quested best routes to take if you will.

Scotty: I love it.

Phil: And had some cool opportunities. I, you know, run branches and, and was regional and, and all that kind of stuff. And about three and a half, four years ago, I realized that in markets, outside of where I had originated, you know, and at that time, Southwest, Missouri, Northwest Arkansas, North Texas, if I got out of that region, my effectiveness went way down as far as recruiting and things like that. And if you think about three or four years ago, we weren't really doing a ton on social media. A lot of the stuff was web based. We were still Googling people at that time. And I realized that people didn't know me, didn't know my company and I needed to figure out a way to get some credibility. Who is this guy that's, you know, trying to recruit me or whatever else? So, I originally started out doing some content marketing, you know, doing some blog posts and things like that. [02:36.3]

Some stuff just where, if you Googled my name, you saw something of, of credibility, you know, being guest articles in publications, and then very quickly changed to social media. I saw this crazy guy on social media named Gary Vaynerchuk, that was saying, this is what you got to do it in, and I really followed a lot of his content. And I started an Instagram page called Mortgage Marketing Experts, mainly because I owned the domain, I thought I might use it at some point in time. And I started putting tips out for people to build their business. Wasn't really branding it to me or my company was just trying to offer the value that I thought most loan officers, mortgage professionals wanted, which is, you know, how do I make more money? How do I build my business? And that turned into a podcast. Within 30 days, we had like, I think a 1000 people following the page, within 90 days, frankly, I started running out of stuff to say, there's only so many one-liners you can come up with, right. I thought, you know, if I have, if I do a podcast, even if people don't listen, I can interview really cool people. I can use their quotes as this, this tip of the day. And man, little did I know, you know, that was a decision that, that really changed the face of my business because it, it opened up the door to a lot of people in our industry. You know, people like you and in Carl, at the Mortgage Marketing Animals and. [03:48.4]

Scotty: Yeah.

Phil: And a lot of folks, you know, in the industry that I didn't know, it had just seen and seen content and became friends of mine. And I got to really learn and, and that led to, to speaking engagements and a lot of other career opportunities, but it was weird because that the podcast itself, you know, a lot of people listen to it cause it was adding value, but really what the podcasts allowed me to do was it was a way for me to have conversations with people and initiate a reason to be reaching out. You know, so many people reach, I don't care if it's a referral partner, if it's someone to recruit or if it's someone of influence, we reach out and then ask them for something. Very rarely do we reach out and say, Hey, I have something that I'd like to offer you a value. And in this situation, I was reaching out, I had a large audience of mortgage professionals, and I was wanting to give them a platform to talk about whatever business they had to promote. They knew what my ROI was, right I'm going to get people to listen to my podcast. But then the other weird thing that happened was through that, getting them set up and them hearing about the podcast and even just having that 30- or 45-minute conversation, it was the beginning of a relationship. And we continued to follow up and some of those people that it took weeks and months for me to reach out, to, to ask them to be a guest on my podcast, are now some of my closest friends to this day. In short that has been this cool side thing. But at the core of who I am, it's a mortgage professional. I've been doing that as long as I can remember. My most recent company thrive was hired as a national director for some sales and strategy stuff. And in the process, at the end stage of the process of actually transitioning back into production, that's where my heart's , is. [05:31.1]

Scotty: Yeah.

Phil: You know, building teams, helping loan officers, working with consumers and, and realtors and I, I like to be where the action is.

Scotty: Love it.

Phil: So, so we've been working on some things there too.

Scotty: I love it. So going back, all the way back to when you first started doing this. Correct me if I’m wrong, but you left production to grow something with the company, and now you're back into production.

Phil: Yeah.

Scotty: But going back to the podcast, when you first started it, knowing what you know now, would you start that again from ground zero? If you like, man, you take away from me, I'm going to start that again. Or what would you change about if anything? [06:01.7]

Phil: So, the answer is yes, because I'm, I'm very bullish on podcasting in general for a couple of reasons. One, I think it's a great way to create long form content. So, I mean, even this conversation we're, we're on zoom so, we have video, we've got the audio, we could take screenshots or pictures, you know, and, and those are really the, we take the transcription and then we have written. So, there's the three forms, you know, video pictures, audio, and then transcribe or the written. So, this 30, 45-minute conversation can get broken up into a ton of pieces of micro content from quote picks to audio grams, to short form video, to everything in between. And I think people overcomplicate creating content. And I think podcasts is one of the best ways to do that. I also think because of the benefits it's paid off for me using a podcast to initiate conversations with people and to create relationships with people is one of the best things that you can do. Mine was industry facing because I was a non-producing, you know, regional at the time and my audience was other mortgage professionals, I created a podcast that I knew would resonate with my audience, which was other loan officers. If I had been a producer, I would have started a podcast for my audience, which was either consumers or real estate professionals. That's the thing where people, I think miss a lot of the times. [07:21.3]

Scotty: Yeah.

Phil: Is they get to a certain level in their business, and they want to create a “brand” but they're creating a brand for the wrong people.

Scotty: Hmm.

Phil: And so that basic marketing formula is number one, who is your audience? Number two, what is the message or value that you're trying to deliver that audience? And then the third is what's the best medium to deliver that message to that audience. For me, it was podcasting busy mortgage professionals can listen in the gym and then the car at their desk. And I didn't watch a lot of long form video at the time. So, the short version is yes, I would absolutely do it all over again with the same kind of deduction and reasoning that I did. But I also think there's an argument to be made of. I could have very easily done a YouTube channel, or I could have set up, you know, a blog or whatever. I don't think it matters that it was a podcast. I just think that people need to find something that they're passionate about, that they enjoy doing and just create content for whoever it is they're trying to create content for. [08:18.4]

Scotty: I love it. So, you started with loan officers now that you're switching back into production, are you kind of blending the two now? Or you're going to do kind of a little bit of both. Truthfully, I've been thinking about this as well. Cause I mean, I run Agent Mastermind, so.

Phil: Yeah.

Scotty: Like I would love to have agents on the show, but it's called Millionaire Loan Officer podcast, you know.

Phil: Yeah.

Scotty: So, I'm kind of torn and you know, yours is mortgage related too.

Phil: Correct.

Scotty: So, what would you.

Phil: Yeah, so I mean the podcast is Mortgage Marketing Experts.

Scotty: Yup.

Phil: And I bring experts on to help people build their mortgage business. We do bring people outside of the industry, we do bring real estate professionals on. And in my podcast cause we're about 120 episodes in, I don't do one every single week, but you know, several a month. And we've kind of evolved from really, really basic tactical information, which I know a lot of people, one is tell me how to do A, B and C.

Scotty: Hmm…hmm.

Phil: We've kind of transitioned from that to a lot of it is mindset and success principles and habit based. And how do you create the concept and the philosophy because so many people are doing so many different styles of growth. As far as me transitioning back into production, we're still going to do that. I don't know if I'm going to just go ahead and bring on realtors or other types of content for that particular audience, or if we're going to do something different. I mean, transparently right now, I think we're going to continue the podcast as is. And then the audience that I'm trying to reach, which is again, you know, cause I live in the Dallas area, I'm going to market to realtors and referral partners in as well as consumers. But I think I'm going to do more of that through again, a YouTube channel through other short form video, through social media and things of that nature because that audience is consuming more content that way. Now a lot of consumers listen to a lot of podcasts, but they're discerning in the type of podcasts they do. So, if I do a second podcast or another one, it will be something about the community. It will be about something that they really care about. No one's going to listen, and this is my opinion. Cause there's, there's some good ones out there as far as podcasts that are mortgage related for consumers. But in my view, I don't think your average person wants to drive around, you know, down the road and, and hear about the latest loan program or what amortization means to them. I just don't think they care. So, it'll be something that'll be around small business owners or, you know, cool developments or, you know, things that people would listen in because they care about for their life and then the underlying value add is, Hey, this is content that's being brought to you by someone in the mortgage business that if you know someone or you are in the market, Hey, you know, let's have a conversation. [10:55.7]

Scotty: Got it. Love it. Love it. So, 17 years successful, ran a national division, so to speak.

Phil: Hmm…hmm.

Scotty: And then back into production, like going back to loan officers like that are either struggling right now because there are some.

Phil: Yeah.

Scotty: We're coming off our best year ever, right. So, I'll just deal with one question. Knowing what you know now from when you first got in the business, what do you tell people that you're coaching like to do this? What's that one or two things that you would share with a loan officer that maybe struggling a little bit?

Phil: Yeah. So, the way I'll answer that is the do this is to do this consistently. I don't think that there's a right or wrong answer with what the, this part is. I think you need to be consistent and persistent over time. Most people give up too quickly and I was actually talking to a pretty new loan officer, wasn't on my team, was on another team and she's at that stage where she's starting to talk to realtors and get them to call her back. But she's getting a of non-qualified borrowers. [11:55.3]

Scotty: Hmm.

Phil: Let's use it that way. She has a lot of low credit scores, a lot of people that aren't qualified. And she said, you know, but I know that they're coming. And what her manager at the time was telling her is everyone goes through that at that stage of their career. And I agreed and said, we all do what you need to know though is the way that you can add value and show your worth even if you're not actually closing any transactions is to communicate, right? This is your opportunity to show them that you're going to stay on top of communication. That you're going to stay on top of, you know, talking to the borrower, talking to them, trying to come up with creative solutions, you know leverage marketing and referrals. You can still win over a referral partner, even if there's no dealer transaction to be had. For ones that are struggling, I would say, you need to figure out who again are you going direct to consumer? Are you leveraging referral partners? And then figure out those particular audiences, what is it that they want to pay attention to? What do they find valuable? And if you don't know, go ask them. If someone will legitimately say, Hey, listen, I'm not trying to get your business. I'm not trying to, you know, that same line, show you how good our services or whatever. Go ask them, say, Hey, like what are the things you pay the most attention to in your business? Even from a mortgage perspective or not a mortgage perspective, what is it that you care about in your business every day? What do you think about? What are the challenges that you have? Actually, ask them and then figure out how to solve that for them? For me, I think it's kind of three very basic things. One, I think getting offers accepted is still a challenge. It's getting better over the last few months, but there's a lot of offers on good homes. Okay, so how do you solve that problem? Right? Can you do a full TBD underwrite on the front end? So now it's the same as cash offer, right? And they don't have any loan contingency. [13:35.7]

Scotty: Hmm…hmm.

Phil: Do you have some type of a bridge loan program or maybe that eliminates the prior sale of their other, how do you solve that problem? You know, the second one is supply. Okay, so maybe that's construction. Maybe that's making some introductions to builders. Maybe that's finding a pocket of homes that maybe they didn't know about or introducing some stuff. And the last one is just basic getting people qualified. You know, do you have some type of internal credit coaching or counseling program? Is that something you do? Do you have a trusted partner that's a third party? I think those are core some of the basic things they think about, and we spend too often trying to show them how fast we closed a loan. Well, they don't care, right. They don't care how many loans you closed last month. They don't care that you have a 97% program or a 100% program, or they don't care. Because unless they have a buyer that fits that product, they don't need you for that. So, the point of that is whether you're struggling, whether you’re new, one of the most important things is to have the right types of conversations with the right people. And again, that's really how you build a relationship. And once you have a relationship, you don't have to worry about whether or not they're going to send you deals. You just have to worry about making sure that you do good on the promises that you made them. [14:45.7]

Scotty: Gotcha. So, the one thing that I pulled out of that the biggest part is persistent, consistent, which is.

Phil: Yeah.

Scotty: How did you overcome that? What did you do to cause that's sales, right? And you get kicked in the teeth over and over and over and over again.

Phil: Yeah, yeah.

Scotty: How did you personally overcome the getting kicked in the teeth over and over and over again until you just like, I'm not a fan of fake it till you make it, but I am a fan of fake it till you make it.

Phil: Yeah, yeah.

Scotty: Double edged sword there what'd you do? [15:09.7]

Phil: So, there's two things and this is something I still do. And I still talk about a lot. So, two things, one, I think the stat right now is you need to make about $13,000 a month to be in the top 5% of income earners in the country. Okay, so depending on your comp plan, that's going to be around a million bucks a month, maybe a little more, a little less. For easy math, let's just say a million bucks a month. Okay, so what's your average loan amount in your market? Let's just say for easy math to get was $250,000. You every month need to convince four people that you're the best option for a loan and you're now in the top 5% of income producers in the country. But that's literally what we do, number one. Number two, if you, most people, if I said, Hey, listen, if you were going to get paid a lot of money and you were going to be the elite at any industry and you failed 7 times out of 10, what would you say that was? And they're like, well, that's probably a failure. Okay, well, for me, that's a hall of Famer because in baseball, you literally, if you're, if you're batting 300 for your career, you're going to the hall of fame. Right, these are the best at what they do make millions of dollars a year and seven or eight times out of 10, they walk back to the dugout from batting as a failure, right. And so, we need to reframe what “success” is. And I think so often we're like, oh, well I only closed three deals this month, but I lost four. [16:29.6]

Scotty: Hmm.

Phil: Okay. Well, did you adequately express your value proposition? Did you do all the things you were supposed to do? And the answer was yes. Then it's just a numbers game. And so literally I think people need to start with, what is your income? Let's say you want to be a Millionaire Loan Officer. I wanna make a million bucks a year. Okay, what's your comp plan that turns into volume? What's your average loan amount that turns into units? Break it down monthly. What's your app to close conversion? What's your pre-call to app conversion? What's your lead to, pre-call go all the way down until you know exactly what you need to do on a weekly, monthly basis. And now, Hey, I got to do this as this, every day, this every week and by default, because I know my numbers, I'm gonna make a million dollars a year. And every time that you have one, I even go as far as to break it down. [17:14.1]

Scotty: Hmm…hmm.

Phil: Let's just say that was however many leads per week. I don't, I'm not gonna throw a number out. Let's just say 20 leads a week. It's more than that, but let's just say. Okay, well then break that down. However, many leads is that a year to a dollar amount, take a million dollars divided by the number of leads you need to create and say, okay, I need to talk to four people to get a lead, break that down. Okay, well that was a NO. All right, that was a $25 NO. I just made another $25, that was a NO. And you just keep doing that and there's again, I've given you three or four examples.

Scotty: Yeah.

Phil: There's lots of ways that we can trick our mind into understanding. We're not failing it's we're through the NO’s to get to the YES’s. And I only need a few of them to make the kind of money that I want to make and be one of the best at this.

Scotty: So insane to when you think about like the batting average type thing, you know.

Phil: Hmm…hmm.

Scotty: It's just, when you think about how little you need to do to make a bunch of money but then getting to that number 8 or 9 or 10.

Phil: Hmm…hmm.

Scotty: Is the hardest thing for everybody to do. And it's all mindset. [18:10.1]

Phil: Oh totally.

Scotty: Totally mindset.

Phil: If you struck out three times and the game's on the line, what type of mental strength do you have to go up there and crank a base hit or a home run, right. That's what they get paid to do.

Scotty: Yeah.

Phil: They don't care like Babe Ruth, I, this may be dated numbers. As far as I know, Babe Ruth was the all-time strikeouts leader. He was also one of the most hit home runs behind Hank Aaron there, maybe you don't know if anybody's passed him or what.

Scotty: Wow.

Phil: But at the time he was the home run leader, he was also the strikeout leader.

Scotty: Wow.

Phil: He failed more than anybody else, which is why he succeeded. And I think not to go down too much of a tangent, but that's part of my problem with formalized academia. I'm very, pro-education very pro learning, but I feel like academia, formal system teaches you that if you failed every test, you're a failure. But what happens if you learned everything that you got wrong and you actually learned the material, even though you “failed,” the test.

Scotty: Hmm. [19:06.0]

Phil: Academia teaches you that you're a failure. In life you can fail over and over and over, but if you continue to learn what happened and know how to pivot and adjust, you actually do get to succeed through that whole process.

Scotty: Wow.

Phil: And so that's where I think we're just kind of predisposed to, if I fail over and over on the failure and most successful people that have followed that consistent and persistent effort over time. No, no, no, that's not you being a failure. That's you being on the right path to your breakthrough. And so, to your point, I a 100% agree, all of this is mental. All of this is mindset and literally just creating an environment for us to be successful because we know we're doing the right things.

Scotty: Unbelievably powerful, man. That was a mic drop right there, brother.

Phil: Thanks man.

Scotty: Cause I mean, we go through school, and we fail a test, and you know, we're or we get a bad grade in a class.

Phil: Hmm…hmm.

Scotty: And now we're labeled as you failed. [19:59.2]

Phil: Yes.

Scotty: And so, you go into the real life, like you talked about you fail, fail, fail, win, but it's hard to get past the first fail.

Phil: Yes.

Scotty: I mean, that's just a mental, we need to go, we need to start at school level, man. We need to change schools.

Phil: We do. We, I mean, and again.

Scotty: We totally do. I know. I 100 % agree

Phil: That's, that's the bottom line. And again, I, I have you know, my oldest just graduated high school, you know, she's first year in college right now and I've got another one in high school, one in junior high and then a couple of middle school or late elementary. So, these things are top of mind for me because as I'm navigating high school counselors that have never really, and again, not all of them.

Scotty: Yeah. [20:36.1]

Phil: My mom was a teacher. So, I feel like I'm qualified to say this. A lot of teachers have never done what they're teaching and they're trying to ask 13, 14, 15-year-old kids what they want to do with the rest of their life. So, then it would have high school classes to take, to get them into a certain college as opposed to, if you think about it, most colleges don't teach personal finance. They don't teach balancing a checkbook, insurance real estate. Like they don't teach. Like they talk about adulting.

Scotty: Yeah.

Phil: They're not really teaching adults, right. They're they're creating employees. And so, there's nothing wrong with that. I got a lot of friends that are super successful employees and do really well and have happy lives. But most people listening to this podcast may not necessarily be a pure entrepreneur, but they're at least entrepreneurial and they're building their own business within a business. Well, to do that, you got to have business owner mindset. And business owner mindset means it doesn't matter if the dream is big enough, if the drive is strong enough, the “facts” don't count, right. You just have to persevere and that's where reading the right kind of books, positive mental attitude, getting around the right type of people, listening to content like yours, reading your book, getting out there, being around other people that have done this and are, or at least in the struggle, you realize holy crap, right? And so, I think that's why a lot of like fitness programs, the reason those work are the ones that were, excuse me, they'll have like a forum of have a group of people, Hey, you're starting P90X, Hey, jump in this forum and talk to the other people on day 17. The success rate is through the roof because I'm like, Hey, I was so hungry. I slapped my dog, right. Like, yeah, man, I can relate to that. You're on the right track. Keep going. We got to do more of that. [22:14.2]

Scotty: Yeah right. You know I could talk to you all day, man. So, I want to bust out. So, your goal, your new goal man is a hundred million.

Phil: A hundred million.

Scotty: What's first? Like.

Phil: Hmm…hmm.

Scotty: I don't know, not everybody wants to close on a hundred million, but I love, I love the a hundred million mark because once you get to a hundred, you can go to 200, 300,

Phil: Yeah.

Scotty: 400, 500.

Phil: Yeah.

Scotty: What's like what's first for you man? Back into production.

Phil: Yeah. So, I mean a hundred million was a goal that if you were a hundred million, whenever I stopped producing, it was like one of the biggest in the country. And now that there's, you know, billion-dollar producers and a lot of several hundred-million-dollar producers, the most I ever produced as a producer was about 50 million, average loan amount was a couple hundred thousand dollars. So, it was very unit heavy. It was in a different market at the time. But the first thing I did at a hundred million was looking and work backwards. Okay, at comp plan at average loan size at estimated conversions, cause I'm, you know, maybe a little rusty. So, I rounded fairly low. Hey, what if I'm not as good at converting some of these and broke it all the way down to a daily kind of marketing activity or activity buckets. Here's the things that I need to do every single day. Here's how many I need to do. Then it was doing that same marketing for me. Okay, who are my two audiences? One's consumers, one's referral partners. What's the messaging? And then what's the medium? The other thing that I think is extremely important that I did was realized that I can't be all things to all people, right? If I'm going to play at this level, I have to have a team around me that I can delegate to. And as I've coached people, we do time tracking where they track everything, they do in half hour increments for when they start to, when they get done every single day, some people don't when they wake up to when they go to bed. And then you go through and look, and it's just red, light, yellow, light, green, light. [23:56.7]

Scotty: Hmm.

Phil: Red lights, things you don't need to be doing. Yellow is productive money-making activities, but you don't need to be doing it. And then green is productive money-making activities that only you can do.

Scotty: Hmm.

Phil: If people would just do that one thing, they'd realize there's not much green in their calendar every day, as far as their time tracking goes. So how do I stack my days with green? Which means I need to, again, if it's red light, yellow, light, green light, do delegate, delete whatever you want to call it. How can I delegate these things off? The other thing too is if referral partners or consumers are coming to me a lot of times, they're going to want me. Well, I can't do that at that level, when you're talking dozens and dozens of units on a monthly basis. So, what I decided was to build out a team of specialists. Okay, I've got my new construction specialists. I have my self-employed business owner specialist. I have my bond government specialist, you know, whatever VA specialist, whatever it is. Now in the beginning, some of these people can wear a couple of different specialists, hats. Bottom line, when you go to your, your general practice physician and you know, you need to have a surgery, he might be able to do it, but he doesn't. What's he do? He refers you to a specialist that, Hey, here's who you need to go. So that's what, what I was able to solve, at least I think for me, which is the way to make sure that not every bar, wherever referral partner, every title company, everybody involved all the time wants to talk to me is I'm going to build a team of specialists who are the best at what they do in that lane. And then all of a sudden, I'm able to focus on the green activities and not dealing with an appraisal gap or whatever like I've got people in place to do that. I think that that's something historically in my business I was probably poor at is I didn't delegate very well. I was a control freak. I felt like, well, by the time it takes me to train that person, I could have already just gotten it done or you know. [25:45.3]

Scotty: One time.

Phil: They're not going to be doing as good as I am on it. So, I just, I just need to do it myself. And I realized that all I need to do is give people the opportunity to do what they do. And again, some of this goes into hiring based upon disc profiles and personality types. And there's, there's a lot of that, that that can go into it too. But bottom line, most of the time when I've actually delegated to someone, their system or how they do, it ends up being better than how I was doing it originally, if you give them the room to do it. So yeah, zero to a hundred million, cause again, it's, it's what, you know, September-ish I've got the rest of this year to keep it in the system in place and then it's hammered down a hundred million in 20, 22 as the rallying cry. To do that, you have to build the right foundation. For me it's what is the activity? How do I get the content out there? How do I have those conversations? And then as those leads come in, how do I not get bogged down and working on those deals that I'm continuing to go get more? Cause every loan officer has this rollercoaster ride, like marketing, marketing, marketing, have all these deals. Okay. I'm just working on the deals. Then all of a sudden, they go back down again, and you go up back and forth. [26:48.7]

Scotty: Yeah.

Phil: And so that's something that I struggled with early on and was able to overcome. So, in short, those are the first couple, two or three things that are top of mind for me.

Scotty: Unbelievable dude. I love that. I might call this podcast - Red, Yellow, Green.

Phil: I like it.

Scotty: Red, Yellow, Green light, man. That's powerful. So yeah, so the red was, shouldn't be doing that.

Phil: Delete.

Scotty: Yellow could be doing it but shouldn't.

Phil: Delegate.

Scotty: And then green is, that's what I need to do. That's the only thing I can do

Phil: Do. Exactly

Scotty: Yeah.

Phil: Yeah man, I it's that one thing cause people talk about, I was talking to one of my loan officers today asked us what are a couple, two or three things. If you were auditing your business? What are some things that you think you can improve on? One of the first things she said was time management. Number two was consistency. [27:28.2]

Scotty: Hmm.

Phil: And I asked those same types of questions. And I said, if you'll be self-aware enough to be honest about where your day is going. And she already looked back and said, you know, I, I realized that I have some really long phone conversations with realtors. What could have been accomplished in five or 10 minutes? They sound on the phone with, for 45 minutes or an hour and said it was relationship building when it was just time wasted. And so, we have to be able to balance that in some and for that particular thing cause I think a lot of people have that challenge. You can take control of your time by telling them you want to be respectful of theirs by saying, Hey, I know you're extremely busy. I only want to take five minutes or only would need 10 minutes and say I’ve got a hard stop. Really what you're saying is I'm not going to spend any more than 10 minutes on the phone with you, but you're not this arrogant jerk of I've only got 10 minutes for a hand. No, you're busy. I want to be respectful of your time. I got a hard stop, 10 minutes too, and then have the conversation and then move on. So those little things like that, that again, I just transitioned less than a week ago. I haven't brought any “leads” in yet. I mean, I've, I've been doing this long enough. I've got people that are calling and whatnot, but I'm not actively marketing out there and I'm thinking about the littlest of conversations. And I do want to say one more thing Barry, Habib's been a good friend and mentor of mine and one of the things he said in one of my podcasts that I did with him is that a boxer trains 5,000 minutes for every one minute in the ring. [28:53.6]

Scotty: Wow.

Phil: And as mortgage professionals, how often are we actually preparing for our minute in the ring, which is talking to a consumer and talking to a referral partner. So, whether that's scripting and role playing, whether that's writing it down and practicing, like I'm in my head and on paper saying, okay, if this conversation is had, what is my response going to be? What is my value proposition? If someone says, Hey man, like, yeah, like I see you out there, you know, podcasting and doing social media stuff and speaking on stage, like how can you be an effective loan officer for me? Like if a realtor asked me that question, what's my response to that? You have to go through every scenario and really prepare and script and I've been doing this long enough, most questions I'm going to get asked, I'm going to be able to answer. But I'm still going to prepare because I want to be a professional and I want to play at an elite level. And that's what people in the elite level do. [29:45.8]

Scotty: I'm going to end it right there, man. That's a unbelievably powerful, I love everything you're doing. I can't wait to follow your journey. Dude, I'd love to just communicate with you every other month or so.

Phil: I can man.

Scotty: Just to kind of see where you're at, what you're doing. I know we will. I know we text every once in a while, and so yeah.

Phil: For sure.

Scotty: I really appreciate you being on a Millionaire Loan Officer, man, it's going to be a. Well dude, so like next year, this time dude, can I count on you to be there, man, let's go.

Phil: Absolutely.

Scotty: Let’s do this.

Phil: Absolutely We're going to do. This time next year, we will be on track to hit the goal.

Scotty: All right.

Phil: There's no ifs, ands or buts, but I appreciate what you do, what the content you put out, what you do for the industry, what you've done for me personally, that your class like my friend and, and excited to, to continue more of these conversations.

Scotty: Thanks so much, brother. Hey man, I appreciate everybody being here on Millionaire Loan Officer powered by Mortgage Marketing Animals and Loan Officer Breakfast Club. Guys persistent, consistent follow the red, yellow, green. Amazing things will happen. Phil said it, I'm saying it. Just get out there and do it. So again, Phil, thank you so much, brother. I appreciate it so much

Phil: You too my man.

Scotty: I wish you continued success, man.

Phil: Appreciate you. [30:45.7]

I'm a Millionaire Loan Officer.

Thank you for tuning into the Millionaire Loan Officer podcast with your host Scott Hudspeth, don't forget to visit MLOlive.com to have your questions answered. See you next time. [31:05.3]

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