It Cost to Be The Boss: How to Take Ownership of Your LIFE
In the Summer of 1998 I started my career as a Loan Officer for a small MORTGAGE company downtown Chicago. I was a married 23 years old man with a toddler. I had very little work experience in corporate America, and no college degree to showcase that I had any knowledge of how the corporate world operated. However, what I did have was a burning desire for financial success, and a willingness to learn whatever I needed to know in order to accomplish this desire. Because of an argument with my previous employer I quit my job where I earned about $20,000 annually to search for a career where I could gross at least $100,000/year. So as you can imagine when I started working for this mortgage company I was elated and excited about the prospect of drastically improving my family's lifestyle.
During my interview with the one of the owners of the company I learned that the average salary for first year loan officers was $72,000. However, this income was strictly commissioned. This meant that whatever I earned would be the result of my own efforts. The first W2 job I had was as a paperboy when I was 12yrs old; so for the past 11 eleven years I was used to being paid a guaranteed salary. I show up for work, perform the task I was instructed to do, and at the end of two weeks I would receive my agreed upon pay. So the thought of actually having to "earn" my own money was very scary. But I was committed to my goal because I had grown tired of never having enough money to support myself or my family with the other jobs I had worked.
During my first month on the job I earned $2300 in commissions. I earned almost $3500 in commission during my second month. Life was good! I was able to buy new clothes for my family; dine out at nice restaurants instead of buffets all the time, sow monetary seeds to my church and other charities, pay my bills on time, and do other things that made my family very happy. It felt great... the first time in my life I actually felt like a man. But these feelings and joyous occasions would soon be threatened.
As you recall, I mentioned that the average first year salary for loan officers at this company was $72, 000... which means $6,000/mth. Half way during my third month the two owners of the company called me into their office for a review of my progress. I was shocked to learn that they were displeased with my work performance because I was "bringing down the averages for the company", one of the owners said. I was given an ultimatum: raise my standards or quit. I felt like a disobedient teen being chastised while sitting in his office being reprimanded for my lack of production. While they were evaluating my performance I looked around the office in awe at the many "Top Producer Awards", photos of other loan officers with five-figure paychecks, high-end office furniture, and the designer clothes and high-priced jewelry each of the owners were wearing. After the shame of my verbal shellacking wore off I was asked which decision I would make: raise my personal standards to match the company's standards... or quit. I chose the first option because there was no way in hell I was going back to the lifestyle I was living prior to getting this job. What inspired my decision was something the owner I had said during our meeting. He said "It cost to be the boss. Many people want what I have, but they aren't willing to do what I do/did to get it."
I left that meeting with a renewed confidence because I had learned 5 principles to success that I could apply to any of my life where I was lacking in.
1. Read self-improvement books and research constructive information on how to apply certain techniques to help you accomplish any particular goal you may have.
Countless millionaires have been created because of the knowledge and wisdom found between the pages of a good book. Yet the average American spends more money playing the lottery than they have investing in their own self-help. The life you live can be identified by things you spend your time reading and watching on television. You attract into your life whatever is in alignment with your most dominant thoughts. Protect your mind at all times!
2. Identify your "why!"
Why is accomplishing this goal so important to you? Who will benefit from the fulfillment of this dream? How will the world be served if you achieve this goal? Answering these questions will help you identify your intentions. If your intentions are pure you'll always be inspired to keep pressing towards the finish line no matter the obstacles before you.
3. Emulate those who are doing what you desire to do.
It has been taught that experience is the best teacher. However, you can lean from other people's experiences. Doing so allows you to avoid the mistakes they made, and accomplish the same goal even quicker. If you are the smartest, wealthiest, or most accomplished person that you know... then it's time for you to get some new friends. You'll fair better in life if you associate with people that are like you or with those whom you want to be like.
4. Time management.
Contrary to a popular belief, 24 hours in a day is more than enough. It's not how much time that's available to you... it's how you utilize your time. Draft a personal "business" plan for your time so that you can make the most use of it each day.
5. Show your appreciation to those who help you.
The sacrifice necessary to attain a goal has never been done by the efforts of one person. There is always a team behind the person who receiving the acclamations for their accomplishment. Always celebrate and show your appreciation to those whom support you.
Instill this in your psyche: "Opportunities in L.I.F.E come by creation, not by chance!"
-DreamBIG!
During my interview with the one of the owners of the company I learned that the average salary for first year loan officers was $72,000. However, this income was strictly commissioned. This meant that whatever I earned would be the result of my own efforts. The first W2 job I had was as a paperboy when I was 12yrs old; so for the past 11 eleven years I was used to being paid a guaranteed salary. I show up for work, perform the task I was instructed to do, and at the end of two weeks I would receive my agreed upon pay. So the thought of actually having to "earn" my own money was very scary. But I was committed to my goal because I had grown tired of never having enough money to support myself or my family with the other jobs I had worked.
During my first month on the job I earned $2300 in commissions. I earned almost $3500 in commission during my second month. Life was good! I was able to buy new clothes for my family; dine out at nice restaurants instead of buffets all the time, sow monetary seeds to my church and other charities, pay my bills on time, and do other things that made my family very happy. It felt great... the first time in my life I actually felt like a man. But these feelings and joyous occasions would soon be threatened.
As you recall, I mentioned that the average first year salary for loan officers at this company was $72, 000... which means $6,000/mth. Half way during my third month the two owners of the company called me into their office for a review of my progress. I was shocked to learn that they were displeased with my work performance because I was "bringing down the averages for the company", one of the owners said. I was given an ultimatum: raise my standards or quit. I felt like a disobedient teen being chastised while sitting in his office being reprimanded for my lack of production. While they were evaluating my performance I looked around the office in awe at the many "Top Producer Awards", photos of other loan officers with five-figure paychecks, high-end office furniture, and the designer clothes and high-priced jewelry each of the owners were wearing. After the shame of my verbal shellacking wore off I was asked which decision I would make: raise my personal standards to match the company's standards... or quit. I chose the first option because there was no way in hell I was going back to the lifestyle I was living prior to getting this job. What inspired my decision was something the owner I had said during our meeting. He said "It cost to be the boss. Many people want what I have, but they aren't willing to do what I do/did to get it."
I left that meeting with a renewed confidence because I had learned 5 principles to success that I could apply to any of my life where I was lacking in.
1. Read self-improvement books and research constructive information on how to apply certain techniques to help you accomplish any particular goal you may have.
Countless millionaires have been created because of the knowledge and wisdom found between the pages of a good book. Yet the average American spends more money playing the lottery than they have investing in their own self-help. The life you live can be identified by things you spend your time reading and watching on television. You attract into your life whatever is in alignment with your most dominant thoughts. Protect your mind at all times!
2. Identify your "why!"
Why is accomplishing this goal so important to you? Who will benefit from the fulfillment of this dream? How will the world be served if you achieve this goal? Answering these questions will help you identify your intentions. If your intentions are pure you'll always be inspired to keep pressing towards the finish line no matter the obstacles before you.
3. Emulate those who are doing what you desire to do.
It has been taught that experience is the best teacher. However, you can lean from other people's experiences. Doing so allows you to avoid the mistakes they made, and accomplish the same goal even quicker. If you are the smartest, wealthiest, or most accomplished person that you know... then it's time for you to get some new friends. You'll fair better in life if you associate with people that are like you or with those whom you want to be like.
4. Time management.
Contrary to a popular belief, 24 hours in a day is more than enough. It's not how much time that's available to you... it's how you utilize your time. Draft a personal "business" plan for your time so that you can make the most use of it each day.
5. Show your appreciation to those who help you.
The sacrifice necessary to attain a goal has never been done by the efforts of one person. There is always a team behind the person who receiving the acclamations for their accomplishment. Always celebrate and show your appreciation to those whom support you.
Instill this in your psyche: "Opportunities in L.I.F.E come by creation, not by chance!"
-DreamBIG!
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