It’s highly recommended to dedicate these 14 minutes a day to reading. Knowledge is transformative, and reading is one of the easiest and best ways to begin improvement in your life and business. It’s remarkable how such a seemingly small commitment can lead to significant growth over time.

“Through reading, we can learn from the triumphs and failures of others, gaining insights that can propel us further on our own journeys.”

Whether it’s a captivating novel, a thought-provoking nonfiction book or even an informative article, reading can take you on a journey of discovery, opening your mind to new ideas, perspectives and possibilities. For commercial mortgage professionals, books can both broaden and deepen your understanding of real estate investment strategies, as well as loan variables and guidelines. Combined with the ongoing learning you do already — by reading industry news and taking professional development courses — the right books can help you predict industry trends, improve service and strengthen your knowledge.

Book benefits

When thinking about the vast array of books that exist, it’s awe inspiring to realize that almost any topic you can imagine has likely been explored and written about. These literary treasures enable readers to tap into the wisdom and experience of others, providing invaluable inspiration, guidance and life lessons.

One benefit of reading is that it doesn’t have to break the bank. You can access many of these resources for free; your local library likely has dozens of books on commercial real estate available in physical, e-book and audiobook formats. Librarians can also assist you with research if you want to dig deeper into a specific topic. If you find a book you’d like to keep, head to the bookstore and purchase it for your personal library.

Through reading, we can learn from the triumphs and failures of others, gaining insights that can propel us further on our own journeys. Instead of reinventing the wheel, we can stand on the shoulders of those who have come before us, absorbing their knowledge and applying it to our own lives. Essentially, you’re starting at a higher level of learning and accelerating the progress toward your goals.

Remember, alongside book reading, it’s crucial to stay up to date on industry news, regulations and trends. It’s helpful to regularly follow reputable financial publications, stay engaged with industry websites, and participate in seminars, classes and conferences. Pair these resources with a commitment to learning via reading and you can provide exceptional service, anticipate market shifts and elevate your expertise as a mortgage professional.

The impact of reading goes beyond professional growth: It benefits our communication skills, empathy and overall well-being. By engaging with different writing styles and diverse perspectives, vocabulary expands, critical thinking skills sharpen and the ability to connect with others deepens.

Reading also promotes relaxation and stress reduction. Especially when reading for fun, it can be a form of escapism, allowing you to immerse yourself in captivating stories and explore new realms. Moreover, reading before bed can improve sleep quality.

Spare moments

If you ever find yourself thinking that you don’t have enough time to read for just 14 minutes a day, consider the wonders of audiobooks. With their growing popularity, building an audiobook library can enable you to immerse yourself in captivating stories during your commute, during household chores or any time you have a free moment.

Speaking of commutes, that journey (whether it’s 15 minutes, 30 minutes or more) presents a valuable opportunity to absorb knowledge through audiobooks. Even brief daily sessions add up to a wealth of information over time, allowing you to explore a vast range of subjects and acquire new skills.

The brain is like a computer that functions based on what we program into it. By consciously choosing to fill our minds with positive, enriching content, we pave the way for personal growth and become more well-rounded individuals. Learning is a continuous process and every bit of knowledge gained adds to your overall understanding. So, embrace your commute as an opportunity to engage in self-improvement and expand your horizons through the power of audiobooks.

As author and motivational speaker Zig Ziglar said, “Your input affects your outlook, your outlook affects your output and your output affects your destiny.” Embrace this quote in your growth journey and understand how the books you read can get you to where you want to be.

Reading list

As a mortgage professional, it’s crucial to understand the importance of continuous learning and being informed about this ever-evolving industry. If you’re looking for books to enhance your knowledge and professional growth, here are some recommendations:

• “The Mortgage Encyclopedia: The Authoritative Guide to Mortgage Programs, Practices, Prices, and Pitfalls,” by Jack Guttentag. This comprehensive guide is a go-to resource for expanding your understanding of mortgage programs, regulations and industry terminology. It’s an invaluable companion for navigating the complexities of the field.

• “Commercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request Package,” by Michael Reinhard. This book offers a comprehensive overview to understanding the intricacies of commercial mortgages. It covers topics such as loan request preparation, underwriting, risk assessment and the overall process of securing a commercial real estate loan.

• “The Handbook of Commercial Real Estate Investing: State of the Art Standards for Investment Transactions, Asset Management, and Financial Reporting,” by John McMahan. While not exclusively focused on lending, this handbook provides a wealth of insights into commercial real estate investments, including financing strategies and the financial aspects of the industry at large. It’s a valuable resource for gaining a holistic understanding of the commercial real estate landscape.

• “Mastering the Art of Commercial Real Estate Investing: How to Successfully Build Wealth and Grow Passive Income from Your Rental Properties,” by Doug Marshall. This book explores various aspects of commercial real estate investing, including financing options and strategies. It offers practical advice for navigating the financing side of commercial properties, making it useful for those interested in mortgage lending.

• “The Real Estate Game: The Intelligent Guide to Decision-Making and Investment,” by William J. Poorvu. Not solely focused on mortgages, this book offers a broader perspective on real estate. Understanding the broader landscape and investment strategies can allow you to offer more holistic advice to clients.

There are many other books that are well worth the read. You can find further recommendations online, at the library, and in the collections of your industry peers and mentors.

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Embrace the power of reading and let it transport you to uncharted territories within yourself, your business and the vast realms of literature. Enjoy it, and remember, it only takes 1% of your day. ●

The post The Power of Reading appeared first on Scotsman Guide.

The truth is that to be the best in your field, the competition is not your colleagues or other companies. You are your own competition. If originators focus on bettering themselves rather than comparing themselves to others, they will already be far ahead of others in their field of expertise.

“If commercial mortgage brokers strive to become 1% better each day for an entire year, the cumulative effect of their daily improvements can be remarkable.”

By viewing themselves as their own competition, mortgage originators embrace a mindset of continuous growth and development. They recognize that their progress is not measured by how they stack up against others but by how much they now compare to their past selves.

A process known as the “1% better strategy” is a simple yet effective way for anyone to build knowledge and abilities. All the program entails is for participants to spend 14 minutes per day — about 1% of each 24-hour period — focusing on improving their skills and know-how. If participants can commit to staying with the process, they will see results.

Daily process

Each day, people can implement this strategy to make incremental progress and become a little better than they were the day before. Ultimately, adopting the belief that “you are your own competition” allows them to focus on their own progress, development and happiness. It frees them from the constraints of comparison, and it empowers them to create a fulfilling and meaningful life based on their own unique aspirations and values.

By spending just 14 minutes per day to improve themselves, those who implement the 1% better strategy can experience numerous benefits. The following list of benefits are just some of the advantages that people who use the program experience.

One of the main benefits is continuous growth. Consistently investing time to improve yourself, even in small increments, can lead to significant long-term growth. By aiming to be 1% better each day, participants accumulate progress over time and develop a habit of continuous improvement.

The process works well with incremental achievements. Focusing on small, achievable goals helps participants build momentum and maintain motivation. The 1% improvement approach allows you to set realistic targets and experience a sense of accomplishment as you reach them.

It also helps in skill development. Devoting regular time to enhance your skills or learn something new can have a profound impact on one’s personal and professional life. Whether it’s learning a new language, developing a talent or acquiring new knowledge, 14 minutes a day adds up to considerable progress over weeks, months and years.

Personal improvement

As those working the program witness progress, they will experience many pleasant surprises. This may include the growth of their self-confidence and self-belief. Knowing that they are consistently working on self-improvement can positively impact their mindset and overall sense of well-being.

Spending time each day to learn and grow expands one’s knowledge and broadens perspectives. It allows you to stay curious, adapt to new challenges and be open to fresh ideas. Taking deliberate steps to better oneself can lead to a greater sense of personal fulfillment and satisfaction. This self-improvement journey, no matter how small, can bring a sense of purpose and meaning to one’s life.

The program can lead to long-term successes. Continuous self-improvement, even in small increments, can have a compounding effect over time. The accumulation of marginal gains can lead to significant advancements in various areas of your life, including career, relationships, health and personal development.

By dedicating a specific amount of time each day to self-improvement, people often become more focused and efficient in utilizing their time, making a positive impact on their overall performance. This increased productivity can spill over into other aspects of their life and make them happier people.

Impact over time

The 1% better approach is not just about the time you spend actively improving yourself but also about the mindset it cultivates. If commercial mortgage brokers strive to become 1% better each day for an entire year, the cumulative effect of their daily improvements can be remarkable.

By consistently becoming 1% better each day, they would reach a theoretical growth level many times greater than where they began. This represents substantial improvement over the course of a year.

It’s important to note that this process doesn’t assume a linear progression of improvement. There will be many potential fluctuations and plateaus. The process by which humans learn and develop skills can be complex and not always easily understood. Nonetheless, this process demonstrates the significant impact that small daily improvements can have when compounded over time.

Getting started

It may seem as if 14 minutes is being described as a “magic” amount of time. That is because 14 minutes represents about 1% of your day. And utilizing just 1% of your day for these self-improvement tasks can lead to a major increase in your abilities in only one year. One way to get started is to use this time in the morning to plan your day. This can be an effective time management strategy that offers several benefits.

First, it helps lead to an efficient use of time. Dedicating a period of time to plan the day allows people to make the most of their time. It’s a relatively short period that provides enough space to outline a person’s priorities and tasks without being overly time-consuming. By investing this small amount of time upfront, anyone can increase their productivity throughout the day.

Second, planning the day helps bring clarity to one’s goals and priorities. By spending a few minutes to reflect on what needs to be accomplished, you can identify the most important tasks, then allocate time and resources accordingly. This clarity enables people to focus on what truly matters, minimizing distractions and increasing their efficiency.

Third, planning allows for prioritization of tasks based on importance and urgency. By allocating time to critical activities, people can ensure that they address the most significant responsibilities first. This approach helps prevent procrastination and ensures that essential tasks are not overlooked.

Planning the day in advance can reduce stress levels. By having a clear road map and knowing what to expect, one is less likely to feel overwhelmed or caught off guard by unexpected events. The act of planning in and of itself can provide a sense of control and calmness, allowing one to approach the day with a more composed mindset.

Effective management

Allocating specific time slots for tasks during a planning session helps to manage time effectively. By estimating how much time each activity requires, people can distribute their available time more efficiently and avoid overcommitting themselves. This approach fosters a sense of discipline and helps participants stay on track throughout the day.

While planning the day, one can anticipate potential challenges or conflicts that may arise. This foresight enables more adaptable and proactive strategies for handling unforeseen circumstances. If unexpected tasks or disruptions occur, having a plan in place allows for adjustments to schedules and the ability to make informed decisions more easily.

A study by the University of California at Irvine found that it takes more than 23 minutes to return to an original task after being disturbed or interrupted. Having a plan gets you back on track in a lot less time.

Spending these 14 minutes to plan your day also ensures that your daily actions align with your larger goals and objectives. It helps you stay focused on the bigger picture and ensures that your daily activities contribute to your long-term aspirations. This alignment enhances your sense of purpose and keeps you motivated.

Remember, the specific time duration for planning can vary based on individual preferences and needs. The key is to find a dedicated period that works for you. It should allow you to efficiently organize your tasks, prioritize effectively, and start each day with clarity and intention.

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There is an old saying that “the best time to plant a tree was 20 years ago and the second-best time to plant a tree is today.” There is no time like the present for commercial mortgage professionals to start reaching toward their life and career goals by committing to a 1% improvement in whatever area they choose. Beginning today will start them on the road to winning the competition to be their best selves. ●

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