MAURITIUS 2018

MAURITIUS 2018

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I am on a plane to Mauritius. How privileged am I to be included in a group of Homeloan Junction and Ooba Winners who have shot the lights out in 2017! I did nothing, they did everything to be here.  We have first-timers, people who have never flown internationally before. We have golden oldies, those who have won over and over again and now, have won again. Each has their own story so let’s explore that.

In my management career, I have met winners at the airport.  The most excited are those who have never flown before.  They are nervous to the point of fidgety; will I be safe,  will I return to the one who kissed me tenderly at the airport? Of course, you will say the initiated – just enjoy the flight. Light-hearted, but also caring. And then there are those who are used to winning; the die-hards who have done the hard yards, amazing people who have been consistently successful over years, even decades.  Amazing that!  To do it in one year is good. To do it over and over again takes a different story completely.

So, over the next two blogs, here are their un-named stories and a summary of their critical success factors…

“Success is what you believe in”. Perhaps this is a crux of the matter as I look back on the people I met in Mauritius. They are confident and assertive – there is an air of success about them. They know what they know and find themselves often in the company of winners. You can see it in the way they interact and hear it in their language as they speak to others and together. There is a balance of affinity, distance and a professionalism that is pervasive. They know how to have fun as well; they laugh easily and play appropriately, but they overdo nothing and enjoy the moment. You can just feel, these people believe in success.

“Perseverance and long hours”, says another. Some of this team know what it takes to work 18 hours a day. From early in the morning to late at night, administration with constant calls in between, they set to the task of satisfying customers. You know what it’s like – the young couple have bought their house and they’re starry-eyed as they await bond approval. The estate agent has done the sale and is counting the commission. The developer needs 70% successful sales/bond approvals for the development loan. You have your own office costs and need to build relationships. Little wonder that perseverance and long hours are needed, not just in the short-term but as a daily habit. We all know that over time, this hectic pace dissipates as a general rule, but every now and again, the need for huge effort raises its head. These winners have ceased wondering when it will stop; instead, they lift their game when required, every time.

“Niks, I just go with the flow.” I know this lady well and she is not a Niks kind of person. What has happened here is that decades of service have done two things – cemented relationships, and generated repeat business as a significant part of her income. She did the hard work years ago and has skilled herself through thick and thin to deal deals with the estate agents and the banks. She knows her oats and doesn’t submit what will not be approved; she’s efficient, values her time and that of others. On the other hand, if anyone in that process disagrees, they could cop the lip that comes with 20 years of experience. For the uninitiated, the matter of apprenticeship comes to the fore. You don’t study to do homeloans and your BCom degree means little if it has not taught you some property law, finance, credit, banking, administration management and then overlaid that with huge dollops of inter-personal skills. You don’t get to quip “Niks”, if you haven’t done the “Baie”.

Relationships are built over years. It is often said that a relationship takes years to build and seconds to destroy. I would add that where money is involved, that formula speeds up. Making my money through consistency and quality of work is good for relationships; a kind of “spice on the top” of commercial associations. But one lie, one un-met promise, or, one poorly managed expectation, can turn your relationship into a nightmare. By the way, but for the first malady which can often be terminal, the others can be dealt quite efficiently by what I call “emotional reserves”. These reserves are built over time and can be likened to a petrol tank’s gauge. Trust, care, friendship, efficiency, feedback are all ways to build emotional reserves that fill the tank of a relationship.

A mistake may use up some of the supply, but can be accommodated from the relationship’s reserve. This may sound a little “soft” but all relationships, personal and business, where emotional reserves have been built up can then be used, by saying sorry or committing [and keeping the commitment] to do better next time. Winners manage expectations and then even in the face of bad news, have a positive approach to an outcome. How often have I myself, told a customer they are flying high in terms of their credit request and then managed them through the decline of the bank to a more realistic application. By the way, another thing here is the question of credit terms. A customer’s lack of knowledge of banking can lead to the question, “Will you get me the best rate?” My answer, “No, but I will get you the best credit terms.” What is the good of Prime – 0.5% with a deposit of R100000 if the deposit does not exist or, was destined to be used for TLC of the property? Prime + 1% may be far more acceptable with no deposit under these circumstances. Don’t get caught up-front in pricing as the bottom line of your service; you’re better than that.

“Origination is entrepreneurial and gives you an opportunity.” I guess this goes for any self-employment though it never feels like that when you’re building your business. But as the years go by and your competency and relationships strengthen, origination is a really nice business to be in. It gets you out, gets you in, and gets you going. Office jobs are crucial to service delivery, but marketing gets you face-to-face with the customer and interface with the stakeholders; it gets you out. It gets you in, into suppliers, interesting projects, opportunities for value-adds and serious negotiations. These are the places where long-term, solid relationships can be built and sustained. And, origination gets you going; every day and continuously. Perhaps one of the cutest comments in my interviews with the winners was simply this, “I won’t change my job!” Not for anything; that entrepreneurship and opportunity talking and from behind a broad smile.

On the other hand, it takes a “wild ride” to leave a stable job and come into this crazy world of property and bonds. None of the winners found it easy but they figured that origination, with its value-adding benefit to the customer absolutely free-of-charge, was the way to go. “I wondered how I would survive” was almost common to all the newbies in Mauritius. It takes a strong cocktail of self-belief and courage to walk away from the known into the unknown. Just like any business venture, you will have days of doubt and days of elation, but what our winners know by their success is that “origination is for me.” Just a point on the taking and managing of risk. Consider the risk carefully, consult wise counsel, be fairly sure of your ability to succeed and why. Wait to build the skills and/or contacts if you do not feel ready, but once you jump, then begin to manage the risk.

Start within with positive self-talk and surround yourself with winning combinations of people and processes so that you give yourself an undisputed chance of success. Like the old saying goes, “you can’t fly like an eagle with turkeys like these.” If that’s arrogance talking, get off your high horse, nobody likes a smart-ass, but if you do not have the right people on the bus, get the right people – you can go out and compete in the marketplace every day but you better have a strong, competent team behind you. You cannot fight a frontal and a rear-guard action at the same time. Think about this, it’s absolutely true. Indeed, a critical success factor.

More to follow in our final part to Mauritius 2018…

Yours in Property.

Jack Trevena
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