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Doug Smith

Doug Smith, founder of Douglas Smith & Associates, is a 24-year industry veteran. His career spans the areas of loan origination, sales training, management development, marketing, personal coaching and corporate sales. Doug’s columns appear in Mortgage Originator, Mortgage Planner, The Mortgage Record and Mortgage Broker magazines. He publishes a monthly newsletter, Power Selling, and authored Climbing the Ladder of Success. For more information, visit http://www.dougsmithonline.com/

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Motivation is Not About What, it’s About “Why”

By now it’s likely you have determined your 2005 business production and income goals. That’s good! You have taken the first step to a successful year! But the real task is still ahead of you. How will you get motivated to achieve these goals? What will be that driving force to push you through barriers, challenges, and problems you will no doubt face as you plough through the next weeks and months ahead?

The real key to motivation is not so much what you want, but “why” you want it. Look at your goals. Perhaps you say you want to increase your production volume by 20%. Why? Maybe you have set a goal to make it to your company’s “President’s Club.” Why is that so important? You may have even set your sights on making $100,000 this year. Again, why do you want to make $100,000 this year? What would it mean?

To get your motivation, you must reach deep down inside yourself to discover what drives that motivation. Do you want to make $100,000 because it sounds cool, or is there a burning reason why you must achieve that goal? This values-driven motivation is known as “the goal of the goal.” Once you know what that is, there’s no stopping you.

Try this exercise in values-driven motivation:

  1. Write down your primary goal for this year
  2. Next, write down three reasons why that goal is so important to you
  3. Finally, write down what will happen if you don’t achieve the goal. What consequences would there be?

Here’s an example of an income goal just for illustration:

  1. My goal is to make $100,000 in 2005
  1. If I make $100,000 in 2005 I will be able to:
  • Buy a new car and get rid of that 1994 piece of junk I’m driving.
  • Enrol our son into a much nicer day-care facility where I would feel more comfortable.
  • Be able to put away $15,000 in savings this year for an earlier retirement.
  1. If I do not make $100,000 this year:
  • I will be putting more money into an older car I’m not proud of and I don’t like.
  • Feel bad that my child isn’t getting the best care he should.
  • Have to continue working later in life when I would rather be retired and out fishing.

If you haven’t already done so, put this down and finish the exercise. It’s quite powerful!

When you have finished, look at the work you have done. You’ll notice that it’s not really the $100,000 that’s the real motivator. What motivates you are the values you hold important and what you would do if you made $100,000 this year.

Ask yourself:

  • How would achieving that goal make me feel?
  • How would not achieving that goal make me feel?
  • Are the rewards for achieving that goal so important to me that I will do anything to get there?

We all think our business is about the money, but it’s not. It is about what you can do with the money that counts. Find that, and you’ll discover the power to get there.

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