309. Surviving the 2008 Recession and Thriving: Person-by-Person, Day-By-Day
He and his future business partner, both in their 20s, had soaked up all they could learn about finance and real estate at their banking jobs. They took the plunge in late 2007 and opened a commercial lending company. In 2008, the real estate bubble burst. Day-by-day they toughed out the recession.
Chris Haddon is an entrepreneur based in Washington, D.C., operating internet and real estate businesses. Hard Money Bankers is a commercial lending company he co-founded in 2007 and that grew to 25-million in loan volume and seven-figure revenues. In his 20’s he became an expert in web marketing to disrupt a market previously dominated by old school “Mom and Pop” shops. He is also the co-author of “The Whiteboard,” an Amazon #1 bestseller.
How Did You Start Using Your Talents?
After college, Chris did the requisite year of surfing and partying in California. Back east, he landed a job in banking in the Washington, DC, area. “I was working for a bank doing sales, bringing loans and business into the bank. It turned out to be a really good base of knowledge to move forward into other things.” At the bank, he followed a daily discipline, and watched how other people operated, both the ones who were top performers as well as the ones who were not-so-much top performers. All the while he was learning how real estate and personal and company finance works, how sales and marketing works–getting sharper at all these things.
The Most Impactful Turning Point?
In late 2007, Chris and his friend, Jason, became business partners, along with a somewhat older, wiser “silent partner.” He and Jason left their banking jobs and took the plunge, opening their own commercial lending company. Much of their financing involved real estate, so in 2008, “Real estate was down the tubes. Jason and I, both in our twenties, had to raise millions of dollars in investor capital for real estate investment deals. It was a great time to start because everything was at the bottom.” Through sleepless nights and lots of stress, Chris says they focused on the business “person-by-person, day by day,” and toughed out the recession.
The Most Powerful Lessons Learned?
“Americans are obsessed with the notion of ‘hard work.’ I say that term in quotation marks because I don’t even know what it means. A lot of what we talk about in “The Whiteboard,” is the focus on results, on actually getting where you need to be. The point is to focus on real, productive results every day, and not on the ideal of ‘hard work’ as some kind of badge of honor.”
Steps to Success from Chris Haddon
1. Cultivate emotional intelligence (EQ).
2. Emulate the people who are doing what you want to do.
3. Use the roadmaps and blueprints that are out there—books, podcasts and people. It has all been done before.
4. Pass along what you are learning, especially through your own actions, to family and friends. Your actions, attitudes and achievements speak louder than words.
5. Take the leap, work your plan.
Connecting With Chris Haddon
Facebook : www.facebook.com/hardmoneybankers
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