Are You Disruptive? It Might Be Good for Business

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How “disruptive” is your reverse mortgage business? While it’s true there have been major disruptions in the industry due to government regulations, that’s not what we’re talking about here. Torben Rick, an international strategist, suggests the peer-to-peer relationships the Internet fosters are disrupting business everywhere in ways astute professionals might turn to their advantage — if they train their eyes on the future.

Although the reverse mortgage business is essentially low-tech and client-centric, HECM professionals may need to make waves, technologically speaking, in order to stay on the leading edge as the decade evolves.

For instance: if you have a website, how does it look on a smart phone? If your site displays poorly on mobile devices, this affects your business. But you don’t necessarily need to create a whole new mobile website. If you have an existing site that’s working well for you, a skilled web developer can optimize it for mobile use with Responsive Web Design (RWD), which restyles an existing site to suit the mobile platform.

Similarly: are you connected to the Cloud? If you think clouds refer only to weather, think again — about using Cloud technology to upload and share documents with business associates and prospects, as well as to promote your business and protect important files.

According to Torben Rick, there are five disruptive change questions to ask about any industry. Though they’re product rather than service oriented,you can dissolve the proverbial box and apply them to the reverse mortgage industry.

One of the best disruptions is to challenge clichés that are influencing how the business works, as in, “I wonder what would happen if we ……….” Here’s a fabulous example from the fashion industry: “What would happen if we sold socks in sets of three, where none of them match?” Presto: Little Miss Matched.

How can you disrupt your current thinking and belief systems, address your prospects’ pain points, boost business in a “challenging climate” and become the go-to person other LOs learn from?