Recessions are a cleansing process. Although painful they rebalance
business, clarify unsustainable thought processes, and reveals the integrity
of your team’s belief in your mission. How you manage this period can set you
up for the next chapter in your career.
Recessions aka Economic Downturns, are triggered by various actions. The action that triggers the downturn determines the harder hit industries. The impact spares no company, how you embrace the cycle will determine if you emerge the new leader or another name in the history books.
This process, as Warren Buffet puts it “low tide exposes
those not wearing a swimsuit”: happens every 7 – 10 years. Today, we see who is wearing a swimsuit in the mortgage industry. The huge losses mortgage companies
and banks are taking on their unbalanced business model is exposing
unsustainable sales practices or flaws in modeling.
Nobody can swim in the mud or low tide. December 11, 2011
“Low Country View of Recessions”: Low
Country View of Recessions . Sometimes it is best to follow history and
focus on improving strategy and our align with those that weather the storm the best.
Understanding this historical reoccurrence is important if
you want to emerge as the next market leader and avoid being another LLC
failure in the history of the mortgage industry.
Cal Haupt
Chairman and Chief Executive Officer
Southeast Mortgage of Georgia, Inc.
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