The Power Of The Pivot And How To Lead Your Business Through CrisesMay 10, 2021
The longer you own a business, the bigger the chance that you’ll have to confront internal and external challenges that threaten to derail the successful company you have built. In 2008, the mortgage industry was in tatters in the wake of a home lending crisis. Many businesses closed or laid-off employees. It was a time where being able to pivot meant the difference between surviving and closing. Brian Peart, founder, and CEO of Commercial Captial Ltd., joins The CoLab hosts Megan Marsh and Andres Munar to discuss the lessons he’s taken away from decades of owning a business in the mortgage sector and to speak about the power of the pivot and how he has had to lead his business through major economic crises since 1995.
It takes the right people, skills, resources, and sometimes luck to keep a business running strong. With a solid foundation comes a better chance of weathering storms such as tanking financial markets, natural disasters, and shifting consumer preferences.
So what does it take to lead a business through challenge after challenge? The CoLab hosts Megan Marsh and Andres Munar are joined this episode by Brian Peart, founder, and CEO of Commercial Capital Ltd., and author of How to Make 6 Figures in the Mortgage Business and 5 Steps to Buying Your Dream Home. Peart has successfully navigated his business through decades that included major economic crises, such as the Great Recession and the COVID-19 pandemic.
Ready to dive in? Here’s what we’re covering in this episode of The CoLab:
- [04:04] When Brian Peart started a mortgage business in 1995, he wanted to grow it as fast as he could. In the years since the company has expanded to 40 branches and includes publishing and commercial divisions—but not without facing obstacles.
- [12:14] In business, you should hope for the best but you also should expect the worst and have a game plan ready for it as best you can.
- [16:11] Escaping a 9-5 job is a common reason entrepreneurs start their own businesses, but starting a business isn’t a replacement for that job. It’s a new experience entirely and one that will require a lot of work.
- [26:34] A mentor is an invaluable resource for new business owners. Their guidance can help you craft a business that works around you and your life.
- [33:24] Anybody can go into business, but you need to be ready because the process will test your biggest weaknesses.
What about you? What the power of pivot means to you? And how do you lead your business through difficult times?