Why You Should Consider Hiring a TeamOct 12, 2022
Dan Patty took a risk, opened his own brokerage, and reached a level of success and fulfillment he had never felt before. Dan prides himself on a knack for creative problem-solving, so with over $200 million in lifetime loan origination volume under his belt, there aren’t many problems he can’t solve! Listen in as The Co/LAB hosts, Megan Marsha and Andres Munar, speak with Dan about the red flags that made him start his own business and why hiring a team was one of his best solutions.
Not sure how to start your own business? There’s no right or wrong way to build a business, you just have to find a strategy that works for you and the right people to support you. Dan Patty is proof that as long as you have goals, a vision, a plan, and a way to execute that plan, you can be a successful brokerage owner. Whether you want to work from home or from an office, be in business by yourself or with 20+ employees, you can do it! Listen in to hear Dan break down his favorite parts of owning a brokerage, the value in hiring a team, and what he would’ve done differently at the start of his entrepreneurial journey.
Ready to dive in? Here’s what we’re covering in this episode of The Co/LAB
● [02:59] There’s a million ways to start a business, but you only need these 4 things to succeed in entrepreneurship.
● [05:28] Introducing Dan Patty, an experienced mortgage broker and Owner of Solcosta Home Loans. Listen in to learn the story behind why Dan left the retail industry and how he ended up starting his own mortgage brokerage.
● [11:09] Why do so many loan originators switch companies so often instead of opening a brokerage?
● [14:15] Dan shares his favorite part of owning a brokerage and being his own boss.
● [17:17] The advantages and disadvantages of having a team & What caused Dan to hire a team for his brokerage.
● [23:26] “[Hiring a team] may become your largest expense, but it is a business expense… You’re not paying this person out of your pocket, this is an expense that the company is bring on to grow, to serve more clients, to be better, and it’s a necessary business expense.” — Dan Patty
● [24:28] The HUGE value in creating written, step-by-step processes and procedures for your employees & More life-changing benefits of hiring a team.
● [29:49] What would you have done differently when starting your brokerage?
● [38:28] Dan sheds light on his vision and goals for the future of his business, emphasizing the importance of prioritizing yourself, your health, and your family.
● [41:03] Listen in to hear expert advice on building a mortgage brokerage business.
Megan and Andres have created a NEW course - My Broker Fast Track – for mortgage loan officers who want to start their own business. For more information, visit: https://www.thecolablife.com/mortgagebroker