May 7, 2024 • 18 mins
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EPISODE DESCRIPTION
In this episode, Brandon and Tom share why it's really important to invest in different areas of yourself and your life, so you can continue to grow both personal and professionally.
Brandon and Tom discuss: → Investments they've made to their business like training and coaching. → How having quality tools will allow you to use them in multiple ways, lowering the cost. → The personal growth you can have by prioritizing health and relationships.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
know, this industry allows you tomake infinite amounts of money,
yet I see so many brokers being sodamn cheap when it comes to
spending money in their business.
From complaining about a 90-10
split to fussing over having topay $30 a month for DocuSign, I've
seen and heard it all.
But hey, I'm not here to stand on
a pedestal and say I'm special anddon't fall into that category,
(00:20):
because the truth is I definitelyhave been one of those people at
one point or another.
And I truly believe if only
mortgage brokers and loan officershad a different mentality towards
money, I feel like we as anindustry would be much better off.
Investing money into your businessand yourself can be one of the
best decisions and actions youmake.
That doesn't mean you need tospend every commission check on
(00:41):
the next best tech or latestcourse, but I firmly believe you
need to be spending money to makemoney in this business.
In this episode, we go over someof the things we've invested in
our business that have helped usgrow, whether it's from the
personal side of things likeexercise and diet, or from the
business side of things likecourses and tech.
By the end of this episode, wehope to form a different kind of
framework for you on how to lookat money in general.
(01:03):
And the end of this episode, wehope to form a different kind of
framework for you on how to lookat money in general.
And if you're someone who'salready there, stick around as we
touch on specific investments thathave helped us double our business
in this down market.
If you're new to the show, my name
is Tom Moffitt, and I'm joined bymy good buddy, business partner
and co-host, Brandon Love.
Whether you're new in the industry
or a seasoned vet, you will getspecific takeaways from every
single episode as we're bothactive in the mortgage biz,
testing new strategies to thenshare to you, our audience.
(01:23):
Let the Commission Breath podcastbe your tool to grow in your
mortgage business.
So with all that being said, let's
get right into it.
everyone.
Brandon Love and Tom Moffitt here.
Welcome to this week's episode of
Commission Breath.
This week we're going to talk
about investing in yourself.
We feel it's something really
(01:45):
important to keep doing and keepthinking about.
So many people are scared toinvest in themselves and their
business and they hit plateaus andpeaks where they feel like they
can't push past this.
And part of this is that they're
just not taking the time, energyand resources and pouring it back
into themselves and theirbusiness.
So today we're going to highlighta few things you should be
(02:06):
investing in and go from there.
absolutely.
And the first thing really, whenyou look at this is the problem
with not investing in yourself isyou're trying to retain as much
money as possible.
And I get it like right now is a
tough market.
We're not where we were back in
COVID where deals were just kindof falling in our lap.
So I get it.
(02:26):
But at the same time, if you're
not going to invest in yourselfand your business, then you're not
going to grow, you're not going tothrive, and you're just going to
stay stagnant.
And typically, when you invest in
anything in your business, you'regoing to get more of a return on
that versus the money you're goingto keep in your account.
So that's why we're big advocatesof this.
But at the same time, we're notsomeone that will say, Hey, just
spend all your money, invest,invest, invest.
You do have to obviously keep someof the nuts.
(02:48):
So why don't we start off with theactual business portion of it,
Brandon point one.
For sure.
Okay.
So point number one is invest in
better business.
So what this comes down to really
is investing in the knowledge andthe tools you need to help your
business grow.
So let's kick things off with
knowledge.
On a very basic level, you can
acquire knowledge through thingslike YouTube, through things like
listening to podcasts like ours,Scott Peckford's other podcasts
(03:09):
out there, and you're gettingknowledge for free.
All you have to input is yourtime.
The next level of this would becourses.
And Tom, you love to do courses.
I'm kind of touch and go on them.
I find some time to start them.
And then I get busy actually
working my business and I don'tgive them the full effort they
(03:30):
require to generate results.
But you're someone who really sees
the results from the courses.
Yeah, I've always been a fan of
courses, which sounds weird, but Ilike to learn on my own time.
I do what I call like time hackingwhen I'm learning as I'm doing
tasks throughout my home, likewhether I'm doing chores, whether
I'm working out in the gym, I'llthrow on either podcast or if I
have that course that I paid for,I'll toss that on as well.
(03:52):
I typically don't go to like thelive training, which maybe there's
an argument that I could get morevalue from it there.
But from my experience, justwatching the recordings and
typical courses that I'm involvedin, I get a lot of value through
that.
I know not everyone's the same.
A lot of people do want thataccountability group.
They do want to be with otherbrokers and thriving together,
which I completely understand.
But point being, courses do help,
(04:13):
but it's not that every coursewill help.
You do really want to be specificand focused on what courses you're
signing up for.
I know I've wasted some money back
in the day on some stupid coursesthat I thought would work in my
business.
back in the day on some stupid
courses that I thought would workin my business.
But rule of thumb is when you'relooking at this course, you got to
(04:33):
think like, is this specific towhat I'm trying to accomplish?
Or is it one of those like,general courses that are promising
everything, but then once you joinit, you're like, as very like
broad and not focused and narrowon what I'm actually trying to
here.
Exactly.
Not all courses are created equal.
And you'll find that that when
there's kind of valleys inbusiness where people aren't
getting that much production, alot of people create a course.
This is across all industries.
And a lot of these courses are
just overview fluff, for lack of abetter term, of stuff you probably
(04:56):
already know.
They don't go deep and they don't
go granular on it.
So when you're looking at a
course, it's a huge investment ofboth money and time.
So you want that to be properlyvetted by community of peers and
people who actually are saying,you know, this is high value.
So one of those courses that wefound, and it's actually a
collection of courses, is StrategyHub.
And Strategy Hub is offered byRyan Wiley and Jason Henneberry.
(05:19):
And we have access to it throughour new partnership with Tango.
And anyone who joins Tango willhave free access to Strategy Hub
as part of our overall package.
But if you're curious about what
kind of courses and content arewithin there, we're going to be
giving out 30-day access toanyone.
And we'll put a little link in theshow notes below if you're curious
about that.
Yeah, and I've done a lot of
(05:40):
mortgage-specific courses, whetherit's through my brokerages that
I've been with or previous coursesin the past that some of them were
high value.
But in my opinion, not just saying
this, I've gone through theStrategy Hub course and there's a
lot of great content in there.
It's very specific and focused on
you as a mortgage broker or a loanofficer.
So I highly recommend go checkthem out.
Like Brandon said, we do have thatlink in the description here.
(06:01):
For sure.
Okay.
So the next thing is investing inthe tools.
So for us, when we say tools,there's a lot of different things.
It could be if you're doing a lotof content, it could be better
cameras, better microphones,better streaming platforms,
editing, et cetera.
For right now, if you're watching
this on video, and you consume alot of our video stuff, you'll
probably notice that my cameraquality has increased a lot in
(06:23):
this video looking crispy, buddy.
That's because I heard enough of
Tom's comments.
And I invested in a new camera and
a new lens.
On the next episode, I have a new
microphone as well.
But I've got to wait for it to
ship.
So these are just things that
increase the quality of our outputso much.
And it makes producing content somuch more fun.
But it's an investment of cost.
(06:43):
I just bought a cottage recently
as well.
And a lot of my money is flowing
towards the down payment andclosing costs.
And I'm like, do I want to spendseveral thousand dollars right now
upgrading equipment?Not really.
But will I get the return from it?For sure.
And we are in an industry whereadding one to two mortgages a year
outpaces the cost of a lot ofthese tools and things that you do
(07:03):
to increase the quality of yourbusiness and your workflow.
Yeah, and it's not even justYouTube specifically.
And by the way, before I move onwith my next point here, for those
listeners that just listen toaudio only, go check out our
YouTube channel.
We've got videos for every episode
there.
And we have clip forms of those
long form content as well.
So go check that out.
Give Brandon some love and tosshim a subscribe on there for that
(07:26):
new camera that he's got.
But to the gear aspect, like,
yeah, we're buying this gear forYouTube, mainly for Canadian
Mortgage Guide.
We do love you guys, but that is
our main source of revenue.
We don't make any money here.
But with that being said, we arealso gaining a valuable skill of
talking in front of video,communicating, having guest
appearances, and just doing someinterview style videos.
That's going to help us with ourcommunication skills, the
(07:47):
interview skills, and justbuilding up this asset in the
background.
And that's why we love investing
in these sort of things.
And it sounds kind of
counterintuitive, like you'reblowing your money and buying
these expensive cameras andequipment.
But if we're building up thisasset in the background, we're
kind of hedging against what mightcome in the future.
Like we have no idea how long themortgage broker industry will be
here.
And I'm not saying this as like a
(08:09):
cynical thing, like nobody knowsit can be here for the next 50
years.
AI can replace us like we don't
know that.
So why don't we build up this
asset in the meantime, which isour YouTube channel.
And we can pivot once we have thisaudience, once we have this brand,
and create a different source ofrevenue if we ever wanted to in
(08:29):
the sure.
And I think that's an important
tip for a lot of people who arenew in the industry as well, or up
to that zero to 10 million markerwho feel like, okay, am I going to
spend $2,000 on camera and micgear?
That's 2% of my overall incomecoming in.
Probably not.
But the takeaway here is let's say
four years from now, you decidethe mortgage industry is not the
(08:50):
space for you, you're going tohave acquired that skill, and it's
going to carry with you from jobto job, it's going to only
increase your value to the overallmarketplace.
So if you're sitting on the fenceand wondering if you should invest
in yourself, do it, okay, pourinto yourself and you will get
returns, either in this industryor in the next that you go to.
Yeah.
And I always try to look at
whatever I'm looking to buy.
I always think like, is this just
going to be one thing that I canuse for this one specific thing?
(09:14):
Or can I maybe use this formultiple facets of my business?
And going back to that cameraexample, if I'm buying a really
nice camera, like Brandon, you'reprobably going to use that camera
that you just bought for your zoommeetings with clients, Yeah, zoom
meetings with clients, even justlike hanging out with my kids,
they watch a lot of YouTube.
So they're like, can we use it to
(09:35):
make our own YouTube videos?I'm like, sure, go for it.
Going up to the cottage, takinggood pictures on family vacations,
that kind of stuff.
Like I'm going to use it
everywhere.
So there's a broad application of
it Yeah.
And we're not talking like go
spend $5,000 on a camera like theone you bought, I think was like
$900.
And I'm looking at getting the
same one.
So yes, it's expensive.
If you're new in the business, youmight not be there yet to spend
(09:56):
money on these sort of fancy gearitems.
But there's also cheaperalternatives.
If you ever wanted to buy, saylike a fancy webcam, you can go
that direction too.
But I would also caution you on
that because I always like to buyonce not buy twice or whatever
that saying goes, webcam, you cango that direction But too.
I would also caution you on thatbecause I always like to buy once,
not buy twice or whatever thatsaying goes.
Brandon, you can fill me in onone.
(10:17):
Yeah, no, I know the saying it is.
Buy nice, not buy twice.
That's what it is.
Beautiful.
Buy it for life.
All right, moving on.
The next thing that we really feelyou should invest in, and this is
something that I skipped for thelongest time.
And actually by partnering up withTom, I realized the importance of
it.
And that is investing in better
health.
Yeah, absolutely.
So health can mean severaldifferent things to everyone.
Like it could mean differentthings to different people.
(10:39):
But for me, it really comes downto physical and mental.
And I break up the physical intotwo different categories, like
lifting, like working out andnutrition.
Those are my two main pillars forthat.
And then for mental, I like to gofor walks, go for hikes and
meditation every day.
So those are my brackets, Brandon,
I know you're similar in some ofthose, right?
At least for the Yeah, sophysical, I'm doing Brazilian jiu
jitsu, which you got me into aswell as a friend of ours that also
did it.
And then I've just started doing
this like kettlebell thing.
So adding some weight in there.
And then I always get my baseline10,000 steps.
(11:01):
So that's something I've added toit.
I've lost like 30 pounds and Ihave way more energy and feel like
it's really helping my businessgrow.
And I know that if I carry on justsome of the routines and habits
with this really helps contributeto the overall business and
well-being in there's Oh, yeah,carryover.
And just as a side if you go backto our early recordings of
Commission Breath, note, you'velost a lot of which is really
(11:24):
cool.
like, man, weight, really, And a
lot of that is from the jujitsu.
But then you get the other
benefits of jujitsu where you havethe like mental, you're shedding
away your ego with it.
You've got some 150 pound brown
belt female tapping you out everyday.
Like your ego isn't going to growin that perspective.
So you get a lot of other benefitswith some of these things too,
which then feeds into yourbusiness and our other topic that
(11:46):
we'll talk about like later on inthis episode, our family and
relationships.
Yeah, that's a great point on the
ego side of things.
I was like feeling pretty good
yesterday.
We were on a high because we just
had day one of our new brokerageoperations and everything was
feeling really good that way.
And a couple of deals were going
well.
Like everything just lined up.
Nice day.
I had a stakeout back with my
(12:10):
family.
Everything was great.
And then I'm like, I'm going to goto a jujitsu class.
And I just got my ass absolutelyhands me.
And it was great.
It was a good workout, but I was
like, this is really what Ineeded.
It kind of knocked me back down toearth a Reality check.
Yeah, for sure.
That's every day for me too.
And I'll give some examples ofwhat I invest in with when it
comes to my health is my garagegym.
Like I've spent I don't know howmuch but I would probably guess in
(12:31):
the range of 15 to 20k on mygarage gym, which is a lot of
money, but I know I'm going to beusing it.
It's a lot of stuff that I'm goingto have for life.
And I absolutely love it.
It's my hobby.
It's my passion.
I'm in there every day, except for
the last month while I'm movinghere in my new home.
But with that being said, I thinkyou do need to invest maybe not
that much right away, but at leastif you're someone that hasn't even
(12:53):
worked out before, and you kind ofhave like no idea where to go or
where to start, then maybe it's apersonal trainer for you.
Like it costs money, but then youcan shortcut your learning to get
to where you need to go.
And it could also act as an
accountability partner for you aswell.
sure.
And there's a sneaky little thing
here too, is a lot of these thingsthat you invest in, you're like,
okay, so for instance, likepersonal trainer, chiropractor,
invest you're in, so for like,okay, like personal instance,
(13:15):
trainer, massage, chiropractor,these also all become lead
sources.
So I've got leads from my massage
therapist.
Now I've got leads from my
chiropractor.
I've got leads from jujitsu.
It's like a sneaky thing becauseyou just become part of this
community and you're going therewith good energy and intention.
Could you want to be there?And people are drawn to you and
your business as a result of that.
So these things that feel like
costs at the beginning actuallybecome assets for your business.
Absolutely.
I told you about that lead
(13:36):
yesterday.
I got from jujitsu.
I was late to our meeting, but itwas worth it because I got a
renewal out of it and it justhappens organically.
You don't really fish for it, butyeah, like you said, it just kind
of naturally gravitates towardsyou.
So why don't we move on to ourlast point, invest in better
relationships.
Let's take it off Yeah.
So I think for a lot of the timein our business, there's seasons
where it's really busy and you'rekind of living in your office,
(13:58):
you're working on files, yourphone's always ringing.
And then there's seasons, it's alittle bit slower.
And sometimes you kind of ridethat roller coaster.
And I find it's hard coming off ofthe peak to when it's like a
little bit more of a stagnant sortof time to turn it coaster.
And I find it's hard coming off ofthe peak to when it's like a
little bit more of a stagnant sortof time to turn it off.
(14:18):
And I feel like I'm still kind ofin my phone, I'm in files, even
though there's not as many ofthem, my mind is still there.
And I think it's important to takea step back and invest your time
in the relationships because thereare going to be times where
relationships suffer from whatyour business requires.
There's no doubt about that,especially if you're scaling and
growing.
So taking a step back and taking
time to reach out to those people,you know, take them for lunch, go
(14:38):
for a dinner, go for a walk,whatever it might be, reestablish
some of those connections that youlose when you're in peak
performance And it's not just abusiness that you might have to
push aside.
This is where you kind of have
like a fine juggling And I'll act.
not just a business that you might
have to push This aside.
is where you kind of have like a
fine juggling act.
And I'll give you an example
(14:59):
today.
I was going to go to jujitsu at
12, but now I'm like, you knowwhat?
I haven't spent time with myfamily as much as I would like to
in the past day.
So I'm going to push that off and
maybe I'll squeeze in a workoutlater on today.
And I'm going to go for a hikewith my family.
So it's not just business thatcreeps into, you kind of have to
juggle around these different sortof buckets and tiers that we're
talking about here.
And this is something that I've
been trying to focus on a lotlately, especially this year.
I talked about it before in one ofthe previous episodes, but one of
(15:21):
my new year's habit and resolutionthat I wanted to make was just to
really spend more time with familyand reach out to extended family
and just really spend more timefocusing on having more
conversations with them and notjust have my head down in my
business, which is what I did lastyear.
And I didn't like the feeling ofthat.
I wanted to be more connected withthe family and maintain that
relationship pretty much andfriends too.
(15:42):
For sure.
And the easy way to do this, if
this is something you strugglewith, is just time blocking.
It doesn't have to be a dailything, but just throw a time block
randomly on like a Fridayafternoon and just put that as
like, do a couple calls to familymembers or go for a walk with
someone.
Little simple things like that
will remind you that, hey, this isstill important and don't lose
focus on it because so much elseis going on in your orbit.
Another thing to block off timefor to go deeper on this level is
taking vacations with your family.
And I know it's hard to do in the
business.
It's hard to turn your phone off
(16:03):
and it's hard to turn your emailoff.
And we do have a past episodeabout how to do this efficiently.
So go check that out.
But don't neglect this.
I neglected this for so long and Iwent on vacation this year and it
was huge for me personally, likementally, but also so great for my
business because it came back withrenewed energy and passion that's
helped our business scale Yeah.
And you know, it costs money.
A lot of people, I think in themortgage business, at least they
(16:27):
think like, okay, I got to spend,what is it?
Maybe call 5k for one person to goaway on vacation, wherever you're
going, it could be cheaper.
It could be more.
And there's also the loss of leadsand files that you could maybe be
funding as well.
But at the same time, we talked
about in the episode, like, ifyou're neglecting taking these
vacations, you're not going torecharge, you're not going to
reset and come back stronger andmore clear and sharper for the
remainder of the year.
(16:47):
And that's kind of what my
realization was when I went onvacation late last year to the
cost opportunity with not takingvacations.
It's going to far away the cost ofyou maybe losing out on a lead or
two while you're away.
100%.
Okay, so wrapping this up, investin better business, invest in
better health and invest in betterrelationships, you will get
outsized returns for your businessand you will have a happier,
healthier life overall.
We promise you have an awesome day
(17:08):
and we'll catch you next week.
See you next week.
know, this industry allows you tomake infinite amounts of money,
yet I see so many brokers being sodamn cheap when it comes to
spending money in their business.
From complaining about a 90-10
split to fussing over having topay $30 a month for DocuSign, I've
seen and heard it all.
But hey, I'm not here to stand on
a pedestal and say I'm special anddon't fall into that category,
(00:20):
because the truth is I definitelyhave been one of those people at
one point or another.
And I truly believe if only
mortgage brokers and loan officershad a different mentality towards
money, I feel like we as anindustry would be much better off.
Investing money into your businessand yourself can be one of the
best decisions and actions youmake.
That doesn't mean you need tospend every commission check on
(00:41):
the next best tech or latestcourse, but I firmly believe you
need to be spending money to makemoney in this business.
In this episode, we go over someof the things we've invested in
our business that have helped usgrow, whether it's from the
personal side of things likeexercise and diet, or from the
business side of things likecourses and tech.
By the end of this episode, wehope to form a different kind of
framework for you on how to lookat money in general.
(01:03):
And the end of this episode, wehope to form a different kind of
framework for you on how to lookat money in general.
And if you're someone who'salready there, stick around as we
touch on specific investments thathave helped us double our business
in this down market.
If you're new to the show, my name
is Tom Moffitt, and I'm joined bymy good buddy, business partner
and co-host, Brandon Love.
Whether you're new in the industry
or a seasoned vet, you will getspecific takeaways from every
single episode as we're bothactive in the mortgage biz,
testing new strategies to thenshare to you, our audience.
(01:23):
Let the Commission Breath podcastbe your tool to grow in your
mortgage business.
So with all that being said, let's
get right into it.
everyone.
Brandon Love and Tom Moffitt here.
Welcome to this week's episode of
Commission Breath.
This week we're going to talk
about investing in yourself.
We feel it's something really
(01:45):
important to keep doing and keepthinking about.
So many people are scared toinvest in themselves and their
business and they hit plateaus andpeaks where they feel like they
can't push past this.
And part of this is that they're
just not taking the time, energyand resources and pouring it back
into themselves and theirbusiness.
So today we're going to highlighta few things you should be
(02:06):
investing in and go from there.
absolutely.
And the first thing really, whenyou look at this is the problem
with not investing in yourself isyou're trying to retain as much
money as possible.
And I get it like right now is a
tough market.
We're not where we were back in
COVID where deals were just kindof falling in our lap.
So I get it.
(02:26):
But at the same time, if you're
not going to invest in yourselfand your business, then you're not
going to grow, you're not going tothrive, and you're just going to
stay stagnant.
And typically, when you invest in
anything in your business, you'regoing to get more of a return on
that versus the money you're goingto keep in your account.
So that's why we're big advocatesof this.
But at the same time, we're notsomeone that will say, Hey, just
spend all your money, invest,invest, invest.
You do have to obviously keep someof the nuts.
(02:48):
So why don't we start off with theactual business portion of it,
Brandon point one.
For sure.
Okay.
So point number one is invest in
better business.
So what this comes down to really
is investing in the knowledge andthe tools you need to help your
business grow.
So let's kick things off with
knowledge.
On a very basic level, you can
acquire knowledge through thingslike YouTube, through things like
listening to podcasts like ours,Scott Peckford's other podcasts
(03:09):
out there, and you're gettingknowledge for free.
All you have to input is yourtime.
The next level of this would becourses.
And Tom, you love to do courses.
I'm kind of touch and go on them.
I find some time to start them.
And then I get busy actually
working my business and I don'tgive them the full effort they
(03:30):
require to generate results.
But you're someone who really sees
the results from the courses.
Yeah, I've always been a fan of
courses, which sounds weird, but Ilike to learn on my own time.
I do what I call like time hackingwhen I'm learning as I'm doing
tasks throughout my home, likewhether I'm doing chores, whether
I'm working out in the gym, I'llthrow on either podcast or if I
have that course that I paid for,I'll toss that on as well.
(03:52):
I typically don't go to like thelive training, which maybe there's
an argument that I could get morevalue from it there.
But from my experience, justwatching the recordings and
typical courses that I'm involvedin, I get a lot of value through
that.
I know not everyone's the same.
A lot of people do want thataccountability group.
They do want to be with otherbrokers and thriving together,
which I completely understand.
But point being, courses do help,
(04:13):
but it's not that every coursewill help.
You do really want to be specificand focused on what courses you're
signing up for.
I know I've wasted some money back
in the day on some stupid coursesthat I thought would work in my
business.
back in the day on some stupid
courses that I thought would workin my business.
But rule of thumb is when you'relooking at this course, you got to
(04:33):
think like, is this specific towhat I'm trying to accomplish?
Or is it one of those like,general courses that are promising
everything, but then once you joinit, you're like, as very like
broad and not focused and narrowon what I'm actually trying to
here.
Exactly.
Not all courses are created equal.
And you'll find that that when
there's kind of valleys inbusiness where people aren't
getting that much production, alot of people create a course.
This is across all industries.
And a lot of these courses are
just overview fluff, for lack of abetter term, of stuff you probably
(04:56):
already know.
They don't go deep and they don't
go granular on it.
So when you're looking at a
course, it's a huge investment ofboth money and time.
So you want that to be properlyvetted by community of peers and
people who actually are saying,you know, this is high value.
So one of those courses that wefound, and it's actually a
collection of courses, is StrategyHub.
And Strategy Hub is offered byRyan Wiley and Jason Henneberry.
(05:19):
And we have access to it throughour new partnership with Tango.
And anyone who joins Tango willhave free access to Strategy Hub
as part of our overall package.
But if you're curious about what
kind of courses and content arewithin there, we're going to be
giving out 30-day access toanyone.
And we'll put a little link in theshow notes below if you're curious
about that.
Yeah, and I've done a lot of
(05:40):
mortgage-specific courses, whetherit's through my brokerages that
I've been with or previous coursesin the past that some of them were
high value.
But in my opinion, not just saying
this, I've gone through theStrategy Hub course and there's a
lot of great content in there.
It's very specific and focused on
you as a mortgage broker or a loanofficer.
So I highly recommend go checkthem out.
Like Brandon said, we do have thatlink in the description here.
(06:01):
For sure.
Okay.
So the next thing is investing inthe tools.
So for us, when we say tools,there's a lot of different things.
It could be if you're doing a lotof content, it could be better
cameras, better microphones,better streaming platforms,
editing, et cetera.
For right now, if you're watching
this on video, and you consume alot of our video stuff, you'll
probably notice that my cameraquality has increased a lot in
(06:23):
this video looking crispy, buddy.
That's because I heard enough of
Tom's comments.
And I invested in a new camera and
a new lens.
On the next episode, I have a new
microphone as well.
But I've got to wait for it to
ship.
So these are just things that
increase the quality of our outputso much.
And it makes producing content somuch more fun.
But it's an investment of cost.
(06:43):
I just bought a cottage recently
as well.
And a lot of my money is flowing
towards the down payment andclosing costs.
And I'm like, do I want to spendseveral thousand dollars right now
upgrading equipment?Not really.
But will I get the return from it?For sure.
And we are in an industry whereadding one to two mortgages a year
outpaces the cost of a lot ofthese tools and things that you do
(07:03):
to increase the quality of yourbusiness and your workflow.
Yeah, and it's not even justYouTube specifically.
And by the way, before I move onwith my next point here, for those
listeners that just listen toaudio only, go check out our
YouTube channel.
We've got videos for every episode
there.
And we have clip forms of those
long form content as well.
So go check that out.
Give Brandon some love and tosshim a subscribe on there for that
(07:26):
new camera that he's got.
But to the gear aspect, like,
yeah, we're buying this gear forYouTube, mainly for Canadian
Mortgage Guide.
We do love you guys, but that is
our main source of revenue.
We don't make any money here.
But with that being said, we arealso gaining a valuable skill of
talking in front of video,communicating, having guest
appearances, and just doing someinterview style videos.
That's going to help us with ourcommunication skills, the
(07:47):
interview skills, and justbuilding up this asset in the
background.
And that's why we love investing
in these sort of things.
And it sounds kind of
counterintuitive, like you'reblowing your money and buying
these expensive cameras andequipment.
But if we're building up thisasset in the background, we're
kind of hedging against what mightcome in the future.
Like we have no idea how long themortgage broker industry will be
here.
And I'm not saying this as like a
(08:09):
cynical thing, like nobody knowsit can be here for the next 50
years.
AI can replace us like we don't
know that.
So why don't we build up this
asset in the meantime, which isour YouTube channel.
And we can pivot once we have thisaudience, once we have this brand,
and create a different source ofrevenue if we ever wanted to in
(08:29):
the sure.
And I think that's an important
tip for a lot of people who arenew in the industry as well, or up
to that zero to 10 million markerwho feel like, okay, am I going to
spend $2,000 on camera and micgear?
That's 2% of my overall incomecoming in.
Probably not.
But the takeaway here is let's say
four years from now, you decidethe mortgage industry is not the
(08:50):
space for you, you're going tohave acquired that skill, and it's
going to carry with you from jobto job, it's going to only
increase your value to the overallmarketplace.
So if you're sitting on the fenceand wondering if you should invest
in yourself, do it, okay, pourinto yourself and you will get
returns, either in this industryor in the next that you go to.
Yeah.
And I always try to look at
whatever I'm looking to buy.
I always think like, is this just
going to be one thing that I canuse for this one specific thing?
(09:14):
Or can I maybe use this formultiple facets of my business?
And going back to that cameraexample, if I'm buying a really
nice camera, like Brandon, you'reprobably going to use that camera
that you just bought for your zoommeetings with clients, Yeah, zoom
meetings with clients, even justlike hanging out with my kids,
they watch a lot of YouTube.
So they're like, can we use it to
(09:35):
make our own YouTube videos?I'm like, sure, go for it.
Going up to the cottage, takinggood pictures on family vacations,
that kind of stuff.
Like I'm going to use it
everywhere.
So there's a broad application of
it Yeah.
And we're not talking like go
spend $5,000 on a camera like theone you bought, I think was like
$900.
And I'm looking at getting the
same one.
So yes, it's expensive.
If you're new in the business, youmight not be there yet to spend
(09:56):
money on these sort of fancy gearitems.
But there's also cheaperalternatives.
If you ever wanted to buy, saylike a fancy webcam, you can go
that direction too.
But I would also caution you on
that because I always like to buyonce not buy twice or whatever
that saying goes, webcam, you cango that direction But too.
I would also caution you on thatbecause I always like to buy once,
not buy twice or whatever thatsaying goes.
Brandon, you can fill me in onone.
(10:17):
Yeah, no, I know the saying it is.
Buy nice, not buy twice.
That's what it is.
Beautiful.
Buy it for life.
All right, moving on.
The next thing that we really feelyou should invest in, and this is
something that I skipped for thelongest time.
And actually by partnering up withTom, I realized the importance of
it.
And that is investing in better
health.
Yeah, absolutely.
So health can mean severaldifferent things to everyone.
Like it could mean differentthings to different people.
(10:39):
But for me, it really comes downto physical and mental.
And I break up the physical intotwo different categories, like
lifting, like working out andnutrition.
Those are my two main pillars forthat.
And then for mental, I like to gofor walks, go for hikes and
meditation every day.
So those are my brackets, Brandon,
I know you're similar in some ofthose, right?
At least for the Yeah, sophysical, I'm doing Brazilian jiu
jitsu, which you got me into aswell as a friend of ours that also
did it.
And then I've just started doing
this like kettlebell thing.
So adding some weight in there.
And then I always get my baseline10,000 steps.
(11:01):
So that's something I've added toit.
I've lost like 30 pounds and Ihave way more energy and feel like
it's really helping my businessgrow.
And I know that if I carry on justsome of the routines and habits
with this really helps contributeto the overall business and
well-being in there's Oh, yeah,carryover.
And just as a side if you go backto our early recordings of
Commission Breath, note, you'velost a lot of which is really
(11:24):
cool.
like, man, weight, really, And a
lot of that is from the jujitsu.
But then you get the other
benefits of jujitsu where you havethe like mental, you're shedding
away your ego with it.
You've got some 150 pound brown
belt female tapping you out everyday.
Like your ego isn't going to growin that perspective.
So you get a lot of other benefitswith some of these things too,
which then feeds into yourbusiness and our other topic that
(11:46):
we'll talk about like later on inthis episode, our family and
relationships.
Yeah, that's a great point on the
ego side of things.
I was like feeling pretty good
yesterday.
We were on a high because we just
had day one of our new brokerageoperations and everything was
feeling really good that way.
And a couple of deals were going
well.
Like everything just lined up.
Nice day.
I had a stakeout back with my
(12:10):
family.
Everything was great.
And then I'm like, I'm going to goto a jujitsu class.
And I just got my ass absolutelyhands me.
And it was great.
It was a good workout, but I was
like, this is really what Ineeded.
It kind of knocked me back down toearth a Reality check.
Yeah, for sure.
That's every day for me too.
And I'll give some examples ofwhat I invest in with when it
comes to my health is my garagegym.
Like I've spent I don't know howmuch but I would probably guess in
(12:31):
the range of 15 to 20k on mygarage gym, which is a lot of
money, but I know I'm going to beusing it.
It's a lot of stuff that I'm goingto have for life.
And I absolutely love it.
It's my hobby.
It's my passion.
I'm in there every day, except for
the last month while I'm movinghere in my new home.
But with that being said, I thinkyou do need to invest maybe not
that much right away, but at leastif you're someone that hasn't even
(12:53):
worked out before, and you kind ofhave like no idea where to go or
where to start, then maybe it's apersonal trainer for you.
Like it costs money, but then youcan shortcut your learning to get
to where you need to go.
And it could also act as an
accountability partner for you aswell.
sure.
And there's a sneaky little thing
here too, is a lot of these thingsthat you invest in, you're like,
okay, so for instance, likepersonal trainer, chiropractor,
invest you're in, so for like,okay, like personal instance,
(13:15):
trainer, massage, chiropractor,these also all become lead
sources.
So I've got leads from my massage
therapist.
Now I've got leads from my
chiropractor.
I've got leads from jujitsu.
It's like a sneaky thing becauseyou just become part of this
community and you're going therewith good energy and intention.
Could you want to be there?And people are drawn to you and
your business as a result of that.
So these things that feel like
costs at the beginning actuallybecome assets for your business.
Absolutely.
I told you about that lead
(13:36):
yesterday.
I got from jujitsu.
I was late to our meeting, but itwas worth it because I got a
renewal out of it and it justhappens organically.
You don't really fish for it, butyeah, like you said, it just kind
of naturally gravitates towardsyou.
So why don't we move on to ourlast point, invest in better
relationships.
Let's take it off Yeah.
So I think for a lot of the timein our business, there's seasons
where it's really busy and you'rekind of living in your office,
(13:58):
you're working on files, yourphone's always ringing.
And then there's seasons, it's alittle bit slower.
And sometimes you kind of ridethat roller coaster.
And I find it's hard coming off ofthe peak to when it's like a
little bit more of a stagnant sortof time to turn it coaster.
And I find it's hard coming off ofthe peak to when it's like a
little bit more of a stagnant sortof time to turn it off.
(14:18):
And I feel like I'm still kind ofin my phone, I'm in files, even
though there's not as many ofthem, my mind is still there.
And I think it's important to takea step back and invest your time
in the relationships because thereare going to be times where
relationships suffer from whatyour business requires.
There's no doubt about that,especially if you're scaling and
growing.
So taking a step back and taking
time to reach out to those people,you know, take them for lunch, go
(14:38):
for a dinner, go for a walk,whatever it might be, reestablish
some of those connections that youlose when you're in peak
performance And it's not just abusiness that you might have to
push aside.
This is where you kind of have
like a fine juggling And I'll act.
not just a business that you might
have to push This aside.
is where you kind of have like a
fine juggling act.
And I'll give you an example
(14:59):
today.
I was going to go to jujitsu at
12, but now I'm like, you knowwhat?
I haven't spent time with myfamily as much as I would like to
in the past day.
So I'm going to push that off and
maybe I'll squeeze in a workoutlater on today.
And I'm going to go for a hikewith my family.
So it's not just business thatcreeps into, you kind of have to
juggle around these different sortof buckets and tiers that we're
talking about here.
And this is something that I've
been trying to focus on a lotlately, especially this year.
I talked about it before in one ofthe previous episodes, but one of
(15:21):
my new year's habit and resolutionthat I wanted to make was just to
really spend more time with familyand reach out to extended family
and just really spend more timefocusing on having more
conversations with them and notjust have my head down in my
business, which is what I did lastyear.
And I didn't like the feeling ofthat.
I wanted to be more connected withthe family and maintain that
relationship pretty much andfriends too.
(15:42):
For sure.
And the easy way to do this, if
this is something you strugglewith, is just time blocking.
It doesn't have to be a dailything, but just throw a time block
randomly on like a Fridayafternoon and just put that as
like, do a couple calls to familymembers or go for a walk with
someone.
Little simple things like that
will remind you that, hey, this isstill important and don't lose
focus on it because so much elseis going on in your orbit.
Another thing to block off timefor to go deeper on this level is
taking vacations with your family.
And I know it's hard to do in the
business.
It's hard to turn your phone off
(16:03):
and it's hard to turn your emailoff.
And we do have a past episodeabout how to do this efficiently.
So go check that out.
But don't neglect this.
I neglected this for so long and Iwent on vacation this year and it
was huge for me personally, likementally, but also so great for my
business because it came back withrenewed energy and passion that's
helped our business scale Yeah.
And you know, it costs money.
A lot of people, I think in themortgage business, at least they
(16:27):
think like, okay, I got to spend,what is it?
Maybe call 5k for one person to goaway on vacation, wherever you're
going, it could be cheaper.
It could be more.
And there's also the loss of leadsand files that you could maybe be
funding as well.
But at the same time, we talked
about in the episode, like, ifyou're neglecting taking these
vacations, you're not going torecharge, you're not going to
reset and come back stronger andmore clear and sharper for the
remainder of the year.
(16:47):
And that's kind of what my
realization was when I went onvacation late last year to the
cost opportunity with not takingvacations.
It's going to far away the cost ofyou maybe losing out on a lead or
two while you're away.
100%.
Okay, so wrapping this up, investin better business, invest in
better health and invest in betterrelationships, you will get
outsized returns for your businessand you will have a happier,
healthier life overall.
We promise you have an awesome day
(17:08):
and we'll catch you next week.
See you next week.
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