If you’ve been following me for a while, you know that YouTube is one of my passions.
And if you’re new here, it’s nice to meet you! 🙂
When used correctly, YouTube can be a source of unlimited inspiration and leads. It’s a portal to learning about practically anything from changing your car’s tires to closing and funding your first loan.
Today, I’m going to share a business strategy with you that has brought in millions of dollars, and it’s a strategy you can implement in your own mortgage business (without spending any money or filming any YouTube content).
- Many loan officers don’t realize that YouTube is a goldmine of business strategy and knowledge.
- One of the biggest YouTubers in the world started with nothing and built a multi-million-dollar empire.
- His philosophy can be applied to closing and funding more loans.
- If you’re looking to grow your mortgage business, we can’t recommend masterminds enough.
A Case Study That Loan Officers Can Learn From
Before we can talk about the what, we have to talk about the who. In this case, that’s Jimmy Donaldson AKA MrBeast. I talk about MrBeast a lot because it’s crazy what he’s been able to accomplish by just 24 years old. Collectively, his videos have gotten nearly 24 billion views. The guy has over 138 million subscribers, making him one of the most-subscribed YouTubers on the planet.
With the wealth he’s created, MrBeast has been able to:
-raise over $20,000,000 to plant 20,000,000 trees
-give millions to charity
-donate over 100 cars and gaming consoles
-and way more
But he wasn’t always this successful. In fact, his first videos are over a decade old, and it took him five years to go viral for the first time.
The Mastermind Formula for Success
When MrBeast wanted to take his YouTube channel to the next level, he formed his own Mastermind community to learn the ins and outs of what it takes to be successful on the platform. Through this group, he met others who shared the same vision and values as he did. (Preston and I also met through a Mastermind group, by the way).
The interesting thing about his Mastermind is that the people in it weren’t top dogs. They hadn’t found success on YouTube or any other industry for that matter. They were college dropouts and unemployed individuals with a passion who knew deep down that they wanted to put 100% of their focus into their YouTube channels. They would eat, sleep, and breathe YouTube and nothing else.
And it worked. They hit every single one of their milestones and goals.
But what was their secret sauce to success? Trial and error.
They tested new ideas together and hyper analyzed every aspect of their videos from the thumbnails to the background music to see what performed well and what didn’t. Soon enough, the group went from individually having 10-20k subscribers to having more than one million each.
Alone, they would have each made a dozen mistakes. But by learning together, they helped each other prevent some of the mistakes they had already made, and this helped them significantly speed up the growth process. They unlocked the “cheat code” to unlimited growth and potential on YouTube.
They didn’t need fancy equipment, a whole team of staff members, or advertising. They needed to make mistakes. Messing up is what allowed them to learn the most.
Loan Officers Shouldn’t Be Afraid to Make Mistakes
If a deal goes sideways with a realtor, it’s not necessarily a reflection of your abilities as an originator. Trying to control their loyalty is like trying to control the rates (it’s simply not possible). You’re also bound to connect with some prospects who aren’t actually ready for the responsibilities that come with home ownership. That’s just the nature of the game. The key is to take it all in stride.
Success in this industry is about perseverance.
The truth is you can’t learn to ride a bike by reading a book. You might skin your knees a few times after the training wheels come off, but it’s all part of the learning process. Anyone can gain knowledge, but wisdom is only awarded to those with lived experience.
You don’t have to know all the answers, you just need to keep moving forward.
Remember: There are ways to make the conditions work in your favor in any market—and there’s a community of hundreds of others in your shoes who want to see you succeed.