Getting to Yes

How often have we heard “no” from a loan application, job interview or any other request and just walked away. Perhaps even more relatable, how many times have we heard “yes” but not necessarily on the terms we were hoping for?

In my book “Millionaire on a Worker’s Budget: Five Financial Truths to Build Wealth,” I introduce diligence as an important truth the worker must espouse in order to build wealth. I suggest that a key part of being diligent is getting to yes. The diligent person, can’t give up when rejected! 

This is easy to say but harder to do. Oftentimes we’ve put a lot of effort into our proposal and we may feel completely defeated after a “no”.  It is perfectly normal to want to give up. But consider the other persons perspective; it is a lot easier to say “no” than “yes”.

Which brings us to the essence of getting to yes. First, there must be a clear understanding of the root cause for the negative response. For formal considerations such as a loan application, a lender will usually spell out fairly clearly the reasons for disapproval.

While the reasons may be challenging to overcome, such as a low credit score, the remedy is often clear- improve the credit score. It is at this point the diligent person commits to developing a fix. It may not happen overnight, but the diligent person won’t give up!

Still another option is to go find a yes. Sticking with loans as an example, there is a high probability the next lender may be a no as well. That being said, it is always prudent to get a second opinion. Even in banking, there may be varying business rules from place to place.

After four investment property mortgages, we encountered an issue with our preferred lender while trying to acquire a fifth. Due to certain regulatory guidance, this particular lender could not approve an individual for more than four mortgages.

After calling around, I learned not all lenders follow the same regulatory guidance. One bank responded, “we will approve as many loans as you qualify for”! We established a relationship with this bank and haven’t looked back. If I had given up on the first no, we wouldn’t have pursued our last three duplexes!

Lastly, getting to yes may mean re-attacking at a different time or going in a completely different direction. The diligent person can recognize quickly when making it to yes may never happen. It takes both diligence and courage to change directions immediately.

Early in my Army career I was afforded an opportunity to earn a Master degree in counseling. In addition to the degree, I also completed the required 3000 hours of supervised counseling experience and standardized testing to earn certification as a Nationally Certified Counselor (NCC).

My initial retire from the military plan was to convert my NCC to a state Licensed Professional Counselor (LPC) license and serve as a counselor. About a year out from military retirement, I started working with the counseling licensing board in my state.

Needless to say, the application and professional endorsement requirements are quite lengthy and it had been a while since I completed my graduate course work! It took several months to put together the application but I finally mailed it off and anxiously awaited my shiny new LPC license in the mail.

What I received instead was a tersely worded, five-page, single spaced letter from the president of the board on why my packet was insufficient to grant licensure. Pretty tough pill to swallow for someone who, at least in my professional life, hadn’t heard “no” very frequently.

This started three months of back and forth with me pleading my case to the board that the academic and professional experience for the NCC should hold reciprocity with the state licensure requirements.

The outcome: my state’s licensing board was unmoved. They wanted me to go back to school for additional training which would have taken over a year. I was retiring in about six months and needed a job!

After much deliberation, I decided to go in a completely different direction. Although I think I had a lot to offer as a 24 year military veteran and a school trained counselor, I couldn’t get the state board to yes. It just wasn’t in the best interest for my family to take a year off from work for additional schooling.

I shifted gears and decided to follow the path of many veterans and seek employment within the defense industry. I immediately set to work building my resume and networking to that end. Long story short, I landed an excellent job which paid much better than a counselor would have, albeit not as personally rewarding.

Whether buckling down to fix what is causing the no, seeking another option that will result in a yes or changing directions completely, the theme of today’s blog is to take action! On the road to building wealth the diligent worker will not run into an obstacle and stop. They will immediately figure out an alternate course of action to get to yes in order to realize personal and financial goals.

The commentary provided in this blog and in my book is for informational purposes only and is not intended to be a source of financial or investing advice.

Millionaire on a Worker’s Budget: Five Financial Truths to Build Wealth is on sale now at Amazon!

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