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Mastering Business Resilience: Lessons from Q1
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summary
In this engaging conversation, Mandi and Michael explore the importance of response, resilience, and systematization in business and life. They share practical insights on managing expectations, celebrating wins, and maintaining balance as they navigate Q1 and prepare for Q2.
key topics
Response and resilience in business
Systematization and scaling
Celebrating wins and learning from setbacks
00:00 Building a Dream Home: Lessons Learned
03:25 Reflecting on Q1: Time Management and Accountability
09:21 Navigating Challenges: The Importance of Response
17:26 Celebrating Wins: The Power of Reflection
23:12 Systems and Freedom: Finding Balance in Structure
27:55 Books and Learning: Insights for Growth
resources
The Checklist Manifesto by Atul Gawande - https://www.amazon.com/Checklist-Manifesto-How-Checklist-Can/dp/031243786X
Unreasonable Hospitality by Will Guidara - https://www.amazon.com/Unreasonable-Hospitality-Transform-Your-Business/dp/1982137484
Okay, which subject do we want to do first?
SPEAKER_00I don't know. Like I've I as I was driving in here, I know like we both are coming from a different place, but I'm like, we are like we are right at the end of Q1. And it's like I remember us doing a an episode as we were leaving uh or coming out of uh last year. And we say this every year, but how quickly does it go by? And so you know, as I'm talking to agents in my office, and you know, even my spouse, it's it's you know, we're like, okay, A, it goes does go by fast, but B, what have you done? Like, what do you have to show for 13 weeks of work?
SPEAKER_01Yeah, let's talk about that. Right? Right? Because I do think like if you came into the year with a solid agenda and a solid plan, at this point we are far enough in to have had some wins.
SPEAKER_00Yeah, you would hope, you would hope so, right?
SPEAKER_01Yeah.
SPEAKER_00Um and you know, I think it would, I think it was, people are gonna fact check me on this, so please help me. I think it was Mike Tyson that said, everybody's got a plan until you get punched in the mouth. And I mean, I'm trying to think, okay, in 13 weeks, how many times have I been punched in the mouth?
SPEAKER_01We're in real estate. Watch the watch the rate market right, right?
SPEAKER_00Oh my gosh, I mean, what um three and a half weeks ago, I mean, I thought, you know, I was like, Jesus, like we are like, we're giving the knockout to the to the rates, and now it's it's inverted.
SPEAKER_01Yeah. Oh yeah. But has that really changed anything?
SPEAKER_00No. No, I mean, we know this, and not that I want to get too much on into buying and selling, but like the market is the market.
SPEAKER_01And it all that matters, right? And it's funny because we have to tell we have to remind ourselves of this, right? We've been doing this for a lot of years. Rates are going sideways, and people are so stressed out. And I was kind of chuckling. In fact, you and I were together last week and I was reading one of the rate updates that basically said, no point in locking now. That's like putting a seatbelt on after you hit the tree, right? And I'm laughing about it, and I'm like, how beautiful that I get to laugh about it because I've been here done that, I've been through enough of these moments in the market. But at the end of the day, it really is what you do with it. Because I will say, since that shift in the market, lots of contracts in, my pipeline's stronger than ever. Um, great conversations with our clients. It's such a good opportunity to be educating clients and gaining trust, right?
SPEAKER_00It's what you do with the it's what you do with the punch. Okay, so that it as you were saying all this, uh, you sum that up perfectly. Because it doesn't matter what industry you're in. And you know, if if we're going into a quarter or a year, or hell, even a month or a week, and we're expecting, if we expect with 100% certainty that everything's gonna go as planned, and we're gonna hit 10 for 10, well, A, we're set up for major disappointment.
SPEAKER_02Right.
SPEAKER_00And you know, it is whatever the situation is, that is the situation you're in. So it's how you respond and how you navigate and pivot said situation is, I mean, so critical.
SPEAKER_01Right. Right. I mean, and actually, I've been thinking about this a lot this week is that it's almost a time management item. How many minutes are you gonna spend being upset about whatever's going wrong versus spending those same minutes doing something proactive with that?
SPEAKER_00Well, yes, and you just gave me the example um as we were starting this that you had um you had a trip plan this week, and something came up that it the trip did not happen. Yeah, and yet you didn't, I mean, you weren't boobing and hollering about it. You're like, well, it just gave me more time to build the business.
SPEAKER_01Yeah. Yeah, and not that I'm not disappointed, right? Like it was my I try to do an annual adventure. Um, I try to do something hard and wild and crazy once a year, and it was my thing for this year. My birthday is next week. I often try to align those in some way. Um, and also, like, once you're like, okay, I've done everything I can to put myself in position to to execute, and it's just not lining up. Sometimes you just gotta let go and look around and go, okay, where's the silver lining in this moment?
SPEAKER_00Yep.
SPEAKER_01And for me, this week, like that's the fun thing, is I'm sitting here Friday. In theory, I would have been off the grid swimming in a waterfall today, and instead I'm in the office hustling. And also, my business is stronger for it. It's been a great productive week. Could be worse.
SPEAKER_00Yeah, yeah, I I that that's so well done. And and I I think as we're talking about this, I'm just reinforced of the idea that um it's it's how we respond to said situation, said week, said quarter, right? And so as we wrap this around, it's like if if you didn't have the quarter that you wanted, well, the good news is it doesn't have to define your year.
SPEAKER_01It's a good time to course correct.
SPEAKER_00Yeah, I mean, I don't know, that was that proverb that the Chinese proverb that said what the best time to plant a tree was, I don't know, what a thousand years ago, whatever, the bet second best time is today.
SPEAKER_02Yeah.
SPEAKER_00Well, that's the same with our businesses. That you know, I think, you know, I was actually having this conversation, I think, with my wife where I think it's human nature, Mandy, where um if things aren't going well, or if we don't hit a goal that a lot of us will just say, you know, fuck it, and you know, it's done, right? And I see this all the time. I mean, I see it, you know, you let's say you see it in diets all the time.
SPEAKER_01Diets and workouts.
SPEAKER_00Exercise. But I mean, you see it in business too, where people will just literally they're they're taking their hands off the wheel because they they or we feel that that moment or that result has defined us for in perpetuity.
SPEAKER_01Just because you had a bad day doesn't mean it has to be a bad week, correct? Right.
SPEAKER_00And so for those for those of us that had a great quarter, great. What did you learn about it? Yeah, what are you gonna do to reinforce what you learned into Q2, 3 and beyond? And if your quarter wasn't how you wanted it, what are you doing about it?
SPEAKER_01Yeah, so I have a question for you because I know how I keep track of this. But visually, is there something in your world that's showing you like how that time's ticking by? Are you using like I know you and I both use planners, but that bigger picture of like how far are we into the year?
SPEAKER_00Oh my gosh, well, I got the idea from you. I know you didn't ask this for it, but you gave me the idea of the big ask calendar. Yeah. So you do have one? I have it in my office, and um, I was literally looking at it. Well, two things. I was supposed to have a fun day yesterday, and I didn't hold myself accountable for it.
SPEAKER_02Oh, interesting.
SPEAKER_00So, like it was a moment there just looking at you know March 26th and thinking, okay, I was supposed to have a fun day, meaning I was supposed to be off grid. And if you remember, we talked, I don't know, eight weeks ago where I worked every day in January.
SPEAKER_02Yeah.
SPEAKER_00Literally every day, and I'm working tomorrow as well. So, where is that time for myself? And so yesterday was a re just another reinforcement to look at that big calendar as a whole, but getting back to your question, I was like, oh my gosh.
SPEAKER_01That's where it hit me this week is my big ass calendar. Yeah, it's like, oh, Q1, we're wrapping it up. Yeah, and I can see it very visually. Like, oh, that's one quarter honey year done.
SPEAKER_00Yeah.
SPEAKER_01But uh, so we this conversation started with us. Like, what what are the wins? Where are the celebrations happening?
SPEAKER_00Are you saying for me personally? Yeah, oh my gosh, well, uh I mean I always start with like self self-care, right? Like awesome relationship with my family, my wife, my kids. Like, that's I mean, incredibly like I'm super grateful. Um the from a physical presence, like um, yeah, I feel great. Like, yeah, my knees, one day I'm gonna have to have new knees, but up until that day, like I still get to do the things um that I love to do, which is taking care of myself, going to the gym, working out, eating pretty well. Um you know, and uh and then in the business had um had a record-breaking first quarter. Hold on, here high five. But you know, it the thing here's here's the really cool thing is as I have wrapped up um the last couple of transactions, in fact, uh a few of them just yesterday and today, uh, I was just reminded, okay, so you had a good quarter. I mean, I think it's important, I really do. So don't uh don't mistake what I'm saying. I it it's not that oh, you know, it what's done is done. And no, I think you have to recognize and celebrate, right?
SPEAKER_01I think it's super important. Celebrate what right went right.
SPEAKER_00Yep.
SPEAKER_01Identify identify what didn't.
SPEAKER_00Yep.
SPEAKER_01And what are you pivoting on? What are you shifting as you go into second quarter?
SPEAKER_00Yeah, and and this as this being the second full year of being in my own business on my own with no team, I find myself doing that where I'm like, okay, I think in the past maybe I would have celebrated too long, or I would have over-indexed on what didn't go right. And now it's just a it's a good transition of okay, you know what? How did I have that great first quarter? Well, it's the work I did in November, December.
SPEAKER_01Absolutely, right?
SPEAKER_00And so um now how do I do that? And I have been doing it, I've been again worked all January, and I probably could take more time off, yet I'm having a blast, and I'm helping some just incredible people in this.
SPEAKER_01You're actually having fun.
SPEAKER_00Oh my gosh, it is it's a blast. So yeah. Um my gosh, learning moments. Um, you know, what I keep journaling about is is just the idea of controlling what I can control. And I mean, whether it's um you know, world world events that are impacting rates, or whether it's what else, what somebody else says or maybe possibly thinks, I have no control over that. And like I'm like a lot of people, I want to be liked. And that doesn't change, but I can't control. All I can do is be my genuine self, right?
SPEAKER_01Yeah, I joke all the time, and depending on where the setting is, right? Like I'm not tequila, I can't make everybody happy, right? Yeah, that's that's a good one. And it's you know, the older I get, the more at peace I'm getting with that because for sure, like I I want to be friends with everybody. I want to, you know, and sometimes you have to be like, okay.
SPEAKER_00Yeah, and I also realize, I mean, maybe this is just because we're fairly similar in age, is like I'm not everybody's cup of tea.
SPEAKER_01Right.
unknownYeah.
SPEAKER_00Like, like I just like two of the clients I just closed on, I mean, both were great transactions.
SPEAKER_02Yeah.
SPEAKER_00And uh one person, it was very transactional, and and you know, was there a mesh not as much, but it was super successful, they were very happy. Yeah, uh, another one, I'll be lifelong friends.
SPEAKER_01Yeah.
SPEAKER_00Right?
SPEAKER_01And and um which aren't we lucky that our business creates those moments where we actually like our tribe of people grows based on yeah, and it was another reminder that you know, as long as I'm being genuinely myself, like and not um, you know, I can't control what other people are going to think.
SPEAKER_00Right. And I'm okay with that. It's taken a long time.
SPEAKER_01So I think that that has come with age. I wish my 20s-something self had understood that.
SPEAKER_00Oh my gosh. Yeah, that that would um that would negate the the whole idea of of learning, right?
SPEAKER_01I mean maybe, maybe.
SPEAKER_00So, okay, how about you? End of the quarter.
SPEAKER_01Yeah, so end of the quarter, definitely had some wins. I I mean, we have turned around the books for our branch, like substantially, like night and day in the first three months, which is phenomenal, and that relieves a lot of stress, so we're super happy about that. Um, systems client experience, all those things. Like, we've made some really great strides there. Also, the reason I'm not on said trip is I didn't do a great job of keeping balance and taking care of myself, right? And my body, you know, our bodies are dashboards, and you do that, and your body will go, oh yeah.
SPEAKER_00I'll show you.
SPEAKER_01Right? So, and that's fine. That's just you know, that's just that like aha moment of like, oh, I you know, I'm out of out of whack, I'm out of balance, which I don't believe we're ever really balanced, but also I've leaned too far one direction over the other. I need to make my unbalance more weekly instead of well, but that's I mean that's good awareness, yeah. Right, it's fine. We will pivot and we will correct course correction there.
SPEAKER_00Yeah. So all right. Um you know, we you alluded to the fact that we were traveling last week, we went out to you know, this seminar, and you know, this is like one of the highlights of Q1 for me because out of all the time we were learning and and um doing stuff, like the one, remember the one quote that Matt had shared, and he talked about, you know, as whether you're building a business or whether it's your physical health and or diet or whatever that it is, he's like, uh what I've learned, and I'm speaking as if I were him, is he was, and this is Matt uh Ishbia, he's the uh CEO of uh UWM and the owner of the Phoenix Suns and yada yada. But he was talking about like I didn't want to get up this morning and work out, but I did it anyways, yeah. And he kept on talking about different things he doesn't want to do, and I'm thinking in our world, making calls or running to that tough conversation, yeah, and I did it anyway, and we do it anyways, yeah. And so I I think that trip came at the right time to just put a nice bow on yeah, you know, okay, there there are things, you know, whether it be events that we really don't want to go to, and I'm speaking of myself because I'm not that person, but I have to learn, I have to learn quickly, just go do it anyways.
SPEAKER_01Yeah, it's funny that you say that because it we had a you know, we our team meets twice a week to just kind of go over, like as a team, everything that's going on, if anybody's stuck on anything, right? We don't want to leave problems sitting for long. And one of my loan officers uh said, Well, oh Mandy, I your your pipeline, like it looks so good. What are you doing? And I kind of chuckled and I said, I'm making my calls. Yeah, right. And he goes, he goes, Well, that's not the answer I wanted. I wanted you to tell me something that I'm not capable of doing.
SPEAKER_02Yeah.
SPEAKER_01Well, but it's the penity of like, you know, you should do the thing, just do it. Yeah, do it anyway.
SPEAKER_00Yeah, I mean, it's what you just said is we're talking about like success leave clues and and and some models, right? Yeah. It we saw that back on our, you know, to the campus at UWM. I mean, we're walking through seeing this call center, and it was unreal to see everybody in tune. It was like a finely, you know, coordinated orchestra of people working and collaborating, and there's there's a reason why they're the number one wholesaler of loans.
SPEAKER_01Yeah, for sure. They there's some brilliance that goes on. Definitely. Matt is a powerhouse to have created such a system. Yeah, right. And it's and that was kind of a fun, the timing is really great for me because as I came home, um, and I have a new team member starting here in the next week, and I was trying to think through like we always talk about the lanes that each team member carries, right? Which that company does beautifully. Like you stay in your lane, you're responsible for your lane, right? Yeah, and we're in that position where we're kind of redefining lanes as we add people. And it was such a good reminder, like it's very systematic. Like every single thing goes through the exact same process because then there's no room for it to be missed.
SPEAKER_00Yeah.
SPEAKER_01Right. And just really thinking through the details of those steps.
SPEAKER_00Yeah, I mean, I don't know. Have we ever talked about the the whole analogy of you know, like airline pilots when they're coming and going, like they just run through, no matter how many thousands of hours of flight hours they have, they're always going through a pre and a post flight checklist. Yeah. There's some pilot on there that's gonna correct me on how I just did it. That's fine.
SPEAKER_01In in our in our vision, that's what's going on.
SPEAKER_00Yeah, doesn't matter. And when there's an emergency, they don't they're taught and trained not to think they go through the system, go to the tab. Right, right.
SPEAKER_01Yeah, so we're we're kind of in that mode, right? And being in that setting last week was such a um such a good reminder of how beautiful that can be and what that can do for your scale, right? How do you scale if you don't have that? And you go into their campus and it's just stunningly like it was a machine.
SPEAKER_00Okay, but but let me play a devil's advocate and ask you. So what do you what would you say to the person that's like, I don't want to be in a constrictive environment where you know everything, and I'm not talking about your business specifically, I'm talking about in any business. Any business that's systematized. They just they want to have the what is it, freedom?
SPEAKER_01Freedom.
SPEAKER_00Yeah, there it is, and flexibility.
SPEAKER_01Yeah. So that's an interesting, okay, and the best example I can think of is the budget. People don't want to, they don't want to have budgets because that feels like a restriction. But but financial budgets is what gives you freedom to live the life you want. Yeah. Right? Yeah. People people overthink that that that rigidness is is confining. Actually, it's the thing that gives you the freedom because the system exists, the system takes care of the thing. Yeah. You now have the freedom in that in that blank space.
SPEAKER_00Yeah.
SPEAKER_01Right? If you are constantly flying by the sea of your pants, you do lose your freedom, right? It's exercise, diet, budgets. If you really think about it, like if you talk to people who are wildly successful, they all are functioning in those restrictive items, theoretically, right? Yeah. Because they give you freedom.
SPEAKER_00Yeah. Yeah. I mean, yeah, I mean, exercise, you know, if you if you have a regimented exercise, it gives you the freedom of living longer.
SPEAKER_01And and and having physical capacity to live big.
SPEAKER_00Yeah.
SPEAKER_01Not just live longer, right? Fair. Like let's push off the diaper years, everyone. Yeah. It gives you the ability to live a big life.
SPEAKER_00Yeah.
unknownYeah.
SPEAKER_01Right. Diet gives you the ability to function and health. It gives you the freedom to run around and have the energy to do the things that you want to do and to live a big life.
SPEAKER_00Yeah, and I I mean, as we as I'm bringing this back in my mind to okay, it's the end of quarter one, you know, I don't know, I I'll ask you the question and then I'll let you answer it, and I'll answer it my way. But like, we're talking about wrapping up one quarter of four.
SPEAKER_02Uh-huh.
SPEAKER_00Like, for somebody who's listening to this, like what like what do you want them to take from everything we've talked about so far?
SPEAKER_01That it's really important to set your goals and your vision and to check back on it and see and where you need to realign.
SPEAKER_00It's good.
SPEAKER_01Would you agree?
SPEAKER_00Well, yeah, I mean, I I love analogies because I think they paint pictures.
SPEAKER_02Yeah.
SPEAKER_00But it's like, you know, when you drive, if you don't, if you're driving from here to, you know, I don't know, say California, but you don't have a GPS, like, let's say, let's be specific, you're near San Francisco, but you don't know that Interstate 80 is going to take you there, right? If you don't have a roadmap and you're not checking it constantly, you could end up in San Diego.
SPEAKER_01Right. You can start on the right road.
SPEAKER_00Correct.
SPEAKER_01And land in the wrong place.
SPEAKER_00Yeah. So I I think people that are, you know, all of us, right? It's a great time. This um there's a there's a there's a school of thought out there called the 12-week year. And I love it. Yeah. And actually, I don't know if you but like next week is the 13th week.
SPEAKER_02Yeah.
SPEAKER_00And the whole idea, right, behind the 12 week year is that you have the last week, the 13th week, to calibrate. Right? That is next week.
SPEAKER_01I know. Which I happen to love because for me, it lands so my birthday is that at the end of that week. So how fun for me, right? That because I write I don't do New Year's resolutions, I do birthday.
SPEAKER_02Yeah.
SPEAKER_01So I'm getting to go on my 13th week and at the end of that start my new year. Yeah. So much fun.
SPEAKER_00Yeah, it is fun.
SPEAKER_01Freaking love it.
SPEAKER_00Yeah. And so I think you know, for people that are listening, understand or uh maybe walk away. Hopefully, either re-energize that you've got, you know, three more 13 weeks. You've got 39 weeks left.
SPEAKER_01Yeah. But and celebrate the wins, right?
SPEAKER_00100%.
SPEAKER_01Like don't don't only look at what didn't go right. Celebrate what went what went right. Or we, you know, we call them our team Falibrations.
SPEAKER_00Oh, I love that.
SPEAKER_01Falibrations. They started with my children. I don't know if you and I've ever talked about this, but my oldest son, and no one would guess this if they met him now. He's the most straight-laced human I know. He's methodical. But when he was young, he spent a lot of time in the in the principal's office. Just had a lot of energy to do stuff. Right. It's got the shenanigan gene going on. We would I I went through a period where we would punish him and it didn't work. I mean, he he got to the point where he was belligerent and he was like, fine, take it all. He had like nothing left but his bed in his room, right? It wasn't working. And so we started doing feel abrations, and I've taken that into my team. And what that is, is it's a it's literally back in the day, we'd be we'd go to Wendy's and get a frosty, and we'd talk about you know what happened, what went wrong in that, and what we would do differently next time. And I do that in my team, we just do it a little more bougie now because Mount usually has a glass of wine and right some better food.
SPEAKER_00When are you doing this next? Because I want to be a part of it.
SPEAKER_01You want to you want to come to the field?
SPEAKER_00Yeah.
SPEAKER_01Yeah, I think we'll have one this coming week. 13th week is a good time to do that together, everybody. And go, you know, what's going right?
SPEAKER_02Yep.
SPEAKER_01But anytime if we have a um if file go badly in our team, we go, everybody time out. What did we learn? What would we do differently? And what are we implementing to not be in that again? Because nobody's perfect, we're never going to be perfect. We want to be better.
SPEAKER_00Yeah.
SPEAKER_01Right?
SPEAKER_00Yeah, what I what I love about that is that you're taking you're sharing the the learning. You're not just letting it be siloed into one person's, you know, learning. You're like, okay, you know, it's likely that there's some components here that are going to be replicated unless we get everybody on board to share in said learning.
SPEAKER_01Yeah. And and why punish everybody for being human instead of us just navigate, you know, so we do better next time.
SPEAKER_00Yeah. Matt, I'm ready to get going on Q2.
SPEAKER_01Yeah.
SPEAKER_00Yeah.
SPEAKER_01Yeah. And you want to celebrate with us next year?
SPEAKER_00I do. I'm in town. I'm in town.
SPEAKER_01We'll invite you.
SPEAKER_00Yeah, I will be here.
SPEAKER_01Yeah.
SPEAKER_00What else? Is that good for this?
SPEAKER_01I think that's good for Q1.
SPEAKER_00Yeah. Put a bow on that bad boy. Um, I let me ask you this. First, um, first quarter, what's the best book you've read?
SPEAKER_01Okay, so I reread um The Checklist Manifesto in the first quarter, which, and I had read it years ago. I reread it because that was one of my focuses, and I'm pretty excited about that. I'm also, I actually think I know what it's gonna be my Q2, but I can't call it out today because I'm not done with it.
SPEAKER_02Okay.
SPEAKER_01But I I think I'm in the middle of my Q2 favorite, so stand by.
SPEAKER_00All right. So I I as I'm looking at the books I've read, and you gave this book to me, but I read it in uh in January, I think, in Unreasonable Hospitality.
SPEAKER_01Yeah, that was my fourth quarter favorite.
SPEAKER_00Yeah. You know, what's interesting is it has completely changed the way I look at um simple things. Let's just use closing gifts as an example. Yeah. Like today I sent four four different closing gifts to four different clients that I've closed on in the last week, and it was fun.
SPEAKER_01Yeah.
SPEAKER_00It was so fun.
SPEAKER_01Yeah.
SPEAKER_00Right? So, all right.
SPEAKER_01Yeah, if you're out there running a business, I you know, I think if you want to stay relevant, if you want to not be afraid of becoming irrelevant with AI and all the tools available, that's a really good read. You want to stay relevant, become that person. Yeah, unreasonable hospitality.
SPEAKER_02Yeah.
SPEAKER_01And everybody I've given it to has loved it. And I think at first they're like, why is she giving me a book about running a restaurant?
SPEAKER_00Yeah.
SPEAKER_01But I will tell you beautiful lessons in that one.
SPEAKER_00Yeah, it was great. So well, I would imagine as we're springboarding ourselves into Q2, that maybe at the end of the uh quarter next when I guess it'd be June, maybe we'll do another recap like this.
SPEAKER_01Yeah, absolutely.
SPEAKER_00All right, cool. Week thirteen. Yeah, let's go. Rock and roll. Love it. See ya guys.