Sharestates CEO, Allen Shayanfekr, sat down with the Mortgage News Network to discuss the success of Sharestates and its recent award for the Top Real Estate Platform from the LendIt Fintech Awards. In this interview, Allen discusses a few topics that helped him and the Sharestates team to grow and scale the business from startup to Top Real Estate Platform.
Tip #1: Fire Yourself Every day
As quoted in the New York Business Journal, Shayanfekr states that he has to fire himself every day. This does not mean that he quits every day, but rather uses that as short-hand for effectively delegating tasks. In the early days of startup life, most CEOs will find themselves occupied with an array of tasks that cover every area of the company. As the company grows, it’s important to be able to hand off tasks to the capable staff so that you are free to then work on the next big thing that will take your company to the next level.
Tip #2: The Importance of Relationship Building
The second tip to success as discussed with Shayanfekr is the value of relationships. From industry to industry the key to growth changes. Within mortgage originations, the key to unmatched growth is strategic relationships; they are a valuable currency. Sharestates has always placed a focus on relationship and partnership management. This focus manifests in several ways, from creating loan programs to cater to the changing needs of clients, to building out specific broker programs, and even simple dinners to check in. The rate of return from a single strategic partnership can create endless opportunity for a business.
Tip #3 Understanding Your Process and Integrating Tech
Allen also discusses the importance of knowing your client’s journey from beginning to end. This knowledge allows you to then identify pain points and work to fix those problems. Your willingness and ability to do this will ultimately make your platform easier to use and the go-to within your industry. Within the world of originations, time is money. The longer the loan process takes, the more it could end up costing the client in the long run. Sharestates has intelligently used technology to help streamline the once antiquated real estate lending process which ultimately led to the company becoming one of the largest private lenders in the nation.
There are many ways to become a successful entrepreneur and to disrupt an industry. For Sharestates, effective delegation, relationship management, and process optimization are just some of the ways that the business has grown to where it is today. Watch the entire video here to learn more.