“The greatest and most dangerous turbulence today results from the collision between the delusions of the decision-makers and the realities.” — Peter Drucker
I recently watched the movie “The Social Network” about the founding of Facebook. To me, most interesting was Mark Zuckerberg’s willingness to make dramatic changes from the status quo at critical points for his business and how he used outside expertise to help him make the leaps required. Similar to the challenges all business face, he had to make decisions that required large pivots from the status quo.
The mortgage industry is facing the same fundamental challenge in my view: “Do I operate as I always have (the way the business was when I started) or is it time to recognize that a fundamental shift has occurred and put everything up for review and change?”