Summary:

What does a super successful person in their field do when they discover their career has stagnated or completely stopped?  The successes they have enjoyed over the last 10 to 30 years have now dissipated.

Article:

When a career has stagnated or stopped, there’s hope in the realization that a fresh approach or plan can reignite success.  The potential for success is always within reach, waiting to be unlocked with the right strategies and mindset.

This potential should fill you with hope and optimism for the future.  Success may only be possible with significant modifications to one’s thought processes, actions, habits, and willingness to accept new risks.  Doing the same thing repeatedly may not work.  As Albert Einstein famously said, ‘The definition of insanity is doing the same thing over and over again, but expecting different results.’ This should motivate you to embrace change and take action.

The definition is different.

Emerging technologies, novel or revitalized techniques, and discoveries can open doors to new ways of engaging with others, colleagues, prospects, friends, and customers.  Exploring and embracing a new paradigm shift could be a game-changer.  A fresh wave of results might be just around the corner.

One of my all-time favorite rock groups was Traveling Wilburys; their song, End of the Line, has a verse with a great message:

You can sit around and wait for the phone to ring (until the line is exhausted).  Waiting for someone to tell you everything (end of the line)

Sit around and wonder what tomorrow will bring (end of the line)

Maybe a diamond ring.

The Traveling Wilburys, a group of British-American iconic genius musicians, delivered some of the most profound music.  Bob Dylan, George Harrison of the Beatles era, Jeff Lynne of Electric Light Orchestra, Roy Orbison, Tom Petty, and Jim Keltner, the leading session drummer in America.  Another of their classics was Handle with Care.

The message in EndofTheLine is compelling.  This is 

allowing outside forces to dictate life plans and actions, hoping these forces

bring unearned benefits.  This simple verse defines most unsuccessful people.  They frolic through life’s forest, believing they are entitled, privileged, and somehow crucial to society, but without effort, plans, or strategy.  In most cases, they are parasites living in the host’s blood, meaning the taxpayers.

Superficial and dependent lifestyles, entitlement, television, procrastination, and procreation dictate their lives.  They undoubtedly sit in front of the TV for eight to ten hours a day, consumed by media and advertising garbage while waiting for the phone to ring; of course, they are hoping for the least.  That is why the government promotes propaganda about how easy it is to obtain free stuff and sponsor lotteries.  Wishing and hoping are not effective strategies, but they make an excellent name for a classic 60s rock band, Wishin’ and Hopin’, by Dusty Springfield.

I have found that my strategies have failed me on multiple occasions. The need for reinvention, rather than self-destruction, is a regular cycle of personal growth.  However, the choice of which is best is straightforward.

Internal forces refer to the personal relationships that may cause us to stray from our intended purpose and deviate from our successful strategy.  For example, a strained relationship with a colleague could affect your performance.  Needed changes may also be due to external forces, such as an unexpected war, interest rate increases, unfavorable economic conditions, regulatory intervention, or internal pressures.  These external forces could result in severe self-induced cash-flow constraints, family financial pressure, an unexpected illness, divorce, emotional problems, substance abuse, the death of a loved one, the Partnership's's dissolution, age bias, or staffing problems.  The list is never-ending.

You do not need to be a victim of worry.  Reduced to its simplest form,

What do you think I worry about?  It is simply an unhealthy and destructive mental state.

The Power of Positive Thinking by Norman Vincent Peale,

Once you have acknowledged that you need a reset or reinvention, the first decision is whether to stay in your chosen field or select an entirely new one in a different profession.

A great start is going online to download the book Acres of Diamonds

Russell H. Conwell, written in 1925.  His simple quote defines the message!

The book is about pursuing success by leveraging your existing knowledge in your chosen field, rather than starting a new profession in an entirely new area.

You can journey to the ends of the earth in search of success, but if you’re lucky, you will discover happiness in your backyard.

Many new and different techniques and strategies are available:

Suppose we have decided to remain in our chosen field!

Take a moment to reflect on the successful elements of your past strategy.  Equally, consider those that are currently failing or have become obsolete.  This exercise in self-reflection is a powerful tool for self-awareness, helping you understand your strengths and areas for improvement.  It puts you in the driver’s seat of your career reinvention, fostering a sense of introspection and control.  This self-reflection should empower you to take control of your career.

Could you list daily action habits you practiced that yielded great or limited results?  Choose internal (you) vs. external (the market, economy, or government).

Some people must acknowledge how they contributed to their lack of success.  Many (many, many, many) refuse to recognize or rationalize how their actions contribute to their failure.  Sorry for the blunt statement, but I have watched this recurring process for over 50 years.

Seek out one or more mentors or multiple successful friends who have positive attitudes and possess the characteristics you aspire to emulate.  These mentors and genuine friends can serve as invaluable guides, providing the support and guidance you need to reinvent your career.  Their presence can make you feel supported and guided in your journey, knowing you’re not alone.

The harsh reality of love is that many people create barriers to success.  (For example, they may find themselves both broke and having to buy beers while complaining about not getting results, which is a revolting development.) This ‘hard-core truth’ reminds us that our attitudes and actions can often be the biggest obstacles to our success, and that we must be willing to take a hard look at ourselves and make the necessary changes.

The reasons for failure may include the following:

A lack of motivation without a go-get-um attitude.  We must be willing to be ever-present and to go the extra mile, and a few more if necessary.  Outwork everyone around you.  Be results-oriented, show tenacity, and do not give up.

Lack of tenacity to carry out a plan.  Tenacity is the number one crucial trait of a successful person.

Inadequate training or rejection of the concept of change may be a barrier to progress.  Our lives are defined by constant change.

If we fail to respond, we will become one of those characters who sit at the bar and brag about the successes we used to have and how much money we once had.  The conversation is nauseating when it deals with people who live in the past.

How to Accept Rejection: Inability to Understand the Process.

Lack of a written action plan with daily action habits.

Poor allocation of daily time usage, combined with ineffective action habits, is a barrier.

Failure to focus on the most critical tasks may be a barrier.  Apply the 80/20 rule: 20% of your focused daily actions yield 80% of your positive results,w hiled 80% of your daily activities produce only 20% of your desired outcomes.

Rationalization leads to failure.  Rationalization is a defense mechanism (ego) in which apparent logical reasons are expressed as opinions to justify one’s behavior or thoughts.  A person may use the reasonableness of their viewpoint to justify unacceptable behavior and blame others for their own failures.

Project on.  Some people try to redirect or deflect their emotions, flaws, and other quirks onto others, shifting blame or ignoring problems.  These individuals often compensate for their inadequacies by boasting about successes, purchasing things, displaying items that suggest success, and expressing unwarranted opinions as a defense mechanism against weakness and insecurity.  These simple folks boast the title of success, but they cancel out their failures.

Research the top 10 most successful individuals in your field.  Study the group and identify the characteristics that contribute to their success.  List the defining characteristics or attributes that led to their accomplishments.  Emulate their actions.  The list will become a blueprint for creating a new daily action habit plan that will lead to success.

Your action plan should focus on elevating yourself to the top 20% of productive and successful people.  There is no apology for the lack of success when the strategy to obtain it is so clear.

Construct a Plan to Assist in the Process of Reinvention:

With a properly written action plan, an implementation strategy, tenacity,

With confidence in oneself and positive motivation, you could be dropped off in Cheyenne, Wyoming, start a new business in the same field, and be successful within 24 months.

Friends do business with friends!

Most businesspeople recognize that their success is directly tied to the number of business relationships they establish.  Successful relationships often evolve into friendships and become two-way streets.  You’ll need help developing successful opportunities for your business friendships.  Nurture their successes as if they were your own.  You can make referrals regularly without requiring any compensation.   Our network will be able to reciprocate ten times over.

Communicating with business associates is necessary to meet goals and determine whether lead prospects are progressing, stalled, or becoming inactive.  Please respond to others’ requests as a common courtesy if you want to develop lasting relationships.  Returning a phone call, email, or text with a brief status update is a thoughtful gesture.  Fast is excellent and gets the job done.

Those who regularly communicate with others demonstrate mutual respect and dignity, and as a result, they tend to be more successful.  Those who do not will fail because they view themselves as the center of the sales process rather than the customer.  Non-communicators eventually eliminate themselves from the playing field, eliminating any possibility of developing lasting long-term relationships.

Regular texting, emailing, and online Zoom meetings are the primary sources of communication.  I have never developed a lasting friendship with anyone based on texting or emailing.  Most Zoom meetings are painful experiences that test one’s patience.  Twenty percent of the content has value, and 80 percent usually has none—I doubt one could ever enjoy long-term sustaining relationships without person-to-person conversations.

There are individuals in our industry that we should steer clear of. Certain people bring nothing to the relationship but superficiality, wasted time, disappointment, and eventual disgust.  The disgust may even be with yourself, and why you put up with this person is self-defeating.

Some people that we meet are self-centered, egotistical, and even sociopathic.  Their world is only a reflection of their sphere.  They may be parasitic, sycophantic, negative, defeatist, secretly hostile, or pathological liars (of which there are many).  Due to their self-admiration, they usually expect the phone to ring in a certain way, with the call coming in around them.  Could you identify these individuals and remove them from your life promptly?

Although industry terminology and jargon may evolve, the fundamental concepts of success will remain essentially unchanged.  My examples relate to the real estate lending business, in which I have been involved for 45 years, as well as operating a half-dozen other companies with hundreds of employees.

Due to our recent experience with the COVID-19 shutdown, the importance of systems designed to create portability in active workstations has become paramount.  Transferring one’s workstation to a home office or other workplace and continuing daily activities to communicate with prospects and associates has taken on an entirely new meaning.

Could you review vendor support relationships?  Vendor(s), usually independent contractors, are assigned delegated responsibilities, always reflecting your professionalism.  Vendors may include service providers such as loan processors, underwriters, and Insurance brokers.  We need one or more third-party marketing specialists to connect, communicate, and solicit the outside world.  Replace those who do not possess master-level competence.

Legal and regulatory compliance expert.  With hundreds of thousands of pages of regulations and multiple government agencies, federal, state, and some overlapping, even redundant, an expert in your field, including labor relations, is required.  Part of the reason for the complexity is the hope that you will make a mistake and the system will punish you with punitive measures.  You are liable for the actions of your experts.

Accounting Support includes a top-rated CPA or Enrolled Agent Tax Expert, in-house accounting services, trust accounting, outside auditors, retirement planners, and trust fiduciaries for retirement plans, among other services.

Tech support.  Most business owners and sales personnel require hardware, including desktops, monitors, multiple servers, backup systems, Wi-Fi connections, phones, and phone/computer interfaces, all of which must be connected to the outside world via high-speed cabling.  We need a tech support specialist who can act as an on-call diagnostic expert, remotely connecting to your system or portable computer when you need to resolve any issues.

Marketing and software support.  A customer relationship management (CRM) software package is a must.  Many are available as software packages that can be installed on your system or accessed online.  You also need an office support system, such as Microsoft 365, which includes Outlook, a word processor, and a spreadsheet.  Many practitioners use loan processing, trust accounting, servicing, and accounting programs.  You can enhance your efficiency by installing multiple monitors and utilizing your software packages to maximize productivity.  If someone sends you an email,   you may want to transfer it to that person, forward it to another, or use the loan processing system for data storage.  It is helpful to have a commercial-quality server and workstation security software package to protect against unwanted solicitations and viruses.

Additionally, remote desktop connection software is now a necessity.  Examples include GoToMyPC and TeamViewer.  Lastly, some individuals required a cloud-based backup system for their server and desktop data.

Connections with others for meetings and presentations have become more accessible with software such as Zoom and GoToMeeting, provided they are not overused.  We anticipate that the creative software design segment will improve over the next 24 months.

Some individuals rely too heavily on social media.  Social media giants like Facebook, GETTR, Instagram, LinkedIn, Parler, Telegram, TikTok, Twitter, and YouTube are corporations that generate revenue through advertising.  The more you are bombarded with advertising and buying things, the more profits they make.  Most of the platforms are also ideologically driven.  Experts in that field must explore whether viable business contacts can be derived from social media.

Please note that your data and correspondence are not private.  Instead, your data determines how they can monetize your connection to their platform algorithmically.  Computer algorithms can determine where your interests lie and what you may be willing to purchase.  Profits and the desire to become dependent on them are always the motive.

In most cases, social media is a misnomer.  A more appropriate name would be social disinformation media.  Any attempts to provide natural information are actually biased propaganda designed to sway public opinion.  Social media news bias, political polarization, geopolitical preferences, and cancel-culture actions ultimately boil down to how they can manipulate you to generate profit for themselves. In most cases, these platforms are interested in controlling your narrative about everything.  They want to sway your opinion and also encourage you to develop a greater reliance on their platform.

In all cases, our relationships.  The more connections that become friendships, the more business a person will develop. I shared this earlier in this article.

Social media linking for relationship-building: When you request to connect on social media,, such as LinkedI,n, anreceiveet a sales pitch, a good friend sells five minutes later.  Disregard the pitch.  The salesperson either lacks interest in building a relationship or lacks sufficient information to do so.

Organizational size.  Some people want to build a company with brick-and-mortar square footage and a substantial fixed-cost base every month, including rent or ownership expenses, hiring, equipment, insurance, and liability for others—the stress of managing staff and calculating fixed and variable costs that fluctuate as needed is challenging.

Evaluating the elasticity of demand for your product or service can be time-consuming and require effort.  Elasticity refers to a business’s ability to adapt to rapid up-and-down fluctuations in business volume.  For example, loan volume production in the real estate lending business can expand and contract overnight, as we are currently witnessing.

The government can raise interest rates, pick winners and losers, shut down all private enterprise businesses using a fraudulent scheme, and instill fear, insecurity, and anxiety.  During the COVID fiasco, the government protected large corporations while systematically destroying small and medium-sized businesses across the country.

Major news stories may make people skittish, whether they are actual events or the usual propaganda lies and deceptions.  Buyers, borrowers, manufacturers, distributors, and end-use consumers may need time to adjust or reconsider their decision.  Supply chains may be constricted or locked up.

We must also be concerned with your operation’s scalability, which refers to its ability to adjust to handling significantly higher volumes when needed.  Flexible scalability requires that your infrastructure be large enough to quickly increase staff, equipment, and support systems that move in tandem or reduce staffing and expenses when necessary.

Another option is outsourcing all or part of your support systems necessary to drive your business forward.  Excellent independent individuals and companies provide professional support services for a fee, and costs are generally reasonable.  Examples of real estate lending are transactional coordinators, loan processors, loan servicing, escrow officers, and legal documentation providers.

Working from a home office is great, and using independent contractor support staff has many merits.

Outside service contractors generally cause you less stress, assuming they are highly competent and professional.  However, they are hard to find and keep busy.  Also, elasticity and scalability become problematic when you try to be your company’s do-all, catch-all.

We will have ups and downs, and getting back up can sometimes be challenging.  The willingness to bounce back and fight is a skill that can be learned.  Repeated attempts will reward you with the ability never to give up, snap back into a prosperous new energy plan, and charge forward to success.

Part I is an overview of how outside forces beyond our control can cause or contribute to our failures.

Outside forces are destructive at work because the U.S. has 106,000,000 people not in the workforce.  There are the officially unemployed (6.1 million working-age Americans) reported by the Bureau of Labor Statistics (BLS), and the other 25% (26.5 million) who have searched high and low, who want a job but cannot find one, and have dropped off the rolls.  Then there is the subset that is not in the workforce, not looking for a job, but otherwise employable.  The social safety net benefits from the COVID-19 free lunch hangover have remained too high to entice people to seek gainful employment.  Part I explores why forces beyond our control are causing havoc in people’s lives.