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[vimeo id=”46049535″ width=”625″ height=”352″]
The Power Of Perspective
How do some seemingly have the knack to be successful in the midst of trauma or turmoil? It comes from a specific skill: the ability to ‘reframe’ events in such a way that success is the result.
Here are some practical ways to put a new perspective on your life events:
- 1. First ask how you can reframe the situation?
- 2. Compare the situation to something worse.
- 3. Look for the positive in the situation.
- 4. Decipher what lessons you have learned.
Watch the video for more.
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As to an expanded market, fiscal 2012 is the year when industry pretenders have turned into industry leaders with the loss of the Big Three. As pointed out last summer, fiscal 2012 would see a shrinking market but it would be known as “The Year of the Lender.”
As to the application activity with case numbers assigned needed for endorsements next fiscal year we are into our second month. It starts every June 1 and goes through May 31. So far, next fiscal year looks to be worse than this fiscal year. With the loss of MetLife and FNB of Layton, UT, next fiscal year should be “The Mini-Year of the Lender” as the surviving lenders push to gain even greater market share.
Ten months from now, the application season for fiscal 2014 will begin. We already see the major lenders preparing for that year. As expected some lenders have already shown that they have written off the next ten months as a period of market expansion as marketing costs rise in a Presidential election season and the positive indicators are barely positive at all and have yet to show any strong trends.
The bright light is found in an example like Urban just hiring Ms. Jean Noble to lead their marketing future. The reduction in the Urban marketing presence in the near term demonstrates how little faith Urban has in market expansion this fiscal year. This confirms the trends which we have been detecting for months.
Ms. Noble will be initializing new marketing campaigns over the next year which is to say, Urban expects market expansion next fiscal year when marketing costs should be lower. While the expansion may not push us over 80,000 endorsements for fiscal 2014, it looks like application growth should be seen in late spring, 2013 which should result in higher endorsements for Fall 2013 than for Fall 2011 or Fall 2012. If that proves to be true, it seems like the endorsement numbers for fiscal 2014 could be somewhere around endorsement numbers for fiscal 2010, if not higher.
While it is far too early to put much confidence even in projections for fiscal 2013, one thing seems certain, some key lender actions seem to confirm the view that fiscal 2013 will once again be “The Year of the Lender” not because of overall industry growth but because of the freeing up of lender market share. As to marketing investment, it might be wiser to hold back some this fiscal year to boost it eight to nine months out than spend down all available marketing dollars in the next eight to nine months.