The “Thinking Differently” Blog

5 Questions with Jim Deitch

Published in: February 2019 edition. https://thescore.vantagescore.com/article/441/5qs-jim-deitch Jim Deitch is co-founder and chief executive officer of Teraverde®. Previously, he was a co-founder, chief executive officer, and director of the American Home Bank division of First National Bank of Chester County. Under his leadership, American Home Bank was named one of the fastest growing private companies in […]

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Mavericks New Year’s Resolution

Thank you to the Mavericks that provided New Year’s Resolutions.  Here’s a synopsis of a few I’d like to share: First, a resolution we all should heed: Keep re-recruiting your existing top producers and loan officers. Keep asking what we can do for them. It’s a lot easier to keep top producers than recruit new […]

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Data driven decisions help get wins

“We are card counters at the blackjack table. And we’re gonna turn the odds on the casino:” Billy Beane in the movie Moneyball. “Strategically Transforming the Mortgage Banking Industry” profiled Oakland Athletics General Manager Beane and his data-driven approach to winning baseball games at a low cost per win. Beane’s big data approach brought about […]

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Developing your own Strategic Levers

The book describes a number of examples of how other companies ‘pull their strategic levers’. With that information, you can then take a hard look at your own business. Take a look at how you can develop your own strategic levers at your company. Please consider your business model and how you would disrupt it […]

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‘Collateral Damage’ from Disruption

Disruption in the transportation industry led to the failure of several financial institutions in New York State. If anything, these examples show just how quickly disruption can transform an industry. Uber arrived on the scene in 2015 and ridership of Yellow Cabs fell precipitously. New York City as well as Chicago, Boston, Philadelphia, and other […]

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The Transformative Executive is a ‘Maverick’

The transformative executive is a ‘maverick’. Not in the sense of the Tom Cruise character in Top Gun. Rather, the maverick is a groundbreaker. A maverick is a transformational executive who creates a high customer satisfaction, high profit, low cost, high employee retention business model for mortgage lending.

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Disruption

Businesses are usually not disrupted by a ‘big bang’. They are disrupted when innovators snap together existing pieces of technology and process in an innovative way.
Disruption comes when innovators think, “That makes no sense. This is a better way.” Note that the innovator doesn’t think “There’s got to be a better way.” They think, “This is a better way,. and here’s how I can do it.” Mavericks usually see it coming, but many business leaders don’t see it until it’s upon them.

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What is a ‘maverick’?

What is a ‘maverick’? He or she can best be described as a groundbreaker, a pioneer. A maverick takes calculated risks to grow, to invoke change. In many ways, a ‘maverick’ is an initiator, someone willing to explore unfamiliar territory and try on innovative ideas when and where others are not.

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