Technology is supposed to be a table at which everyone has a good chair, regardless of budget and expertise. But with so many technology options available, choosing the right ones while maintaining a thriving business can sometimes leave you feeling like you’re about to end up in the wrong house in a Grimm’s fairy tale.
defi SOLUTIONS CEO and Founder Stephanie Alsbrooks recently shared her thoughts about a visit she made to three lenders. Each believed a certain aspect of their business made it difficult for them to find the technology solutions that was “just right,” which caused Stephanie to think of Goldilocks and the Three Bears.
Here’s 3 obstacles the “Three Bears” faced and advice from Stephanie for those days when you find yourself feeling as they did:
- My business is too small to invest in technology. It’s tough when your business is small, but don’t sell yourself short. Set your sights on the technology and the partnerships that position you for growth while letting you operate the way you want to operate.
- My business is too fast to invest in technology. Continue to put money and focus into your technology and automated processes, and don’t be afraid to step off a wrong path. While it’s tempting to work your team harder with manual processes or to think you can live without improvements for a while, keep a clear picture of where you are and where you want to go and conquer the delta one step at a time.
- My business is too old to invest in technology. Your business may be held together with enough duct tape that it’s working for the time being. And you may be concerned that ripping it out could have an impact of a magnitude you could not possibly imagine. But life is too short to sit in a too small chair, sleep in a too hard bed, eat too cold porridge, or operate with duct tape.
Today’s world of technology can sometimes seem nothing short of magical. Yet, there are no fairy tale steps to perfect technology. A good partnership is an investment in your success, one that can help you overcome obstacles and discover or create the unique things about your business that position you “just right” for success in your marketplace.
defi SOLUTIONS provides a cloud-based, configurable loan origination system (LOS), pre-integrated with a wide range of fintech lending services. If you’re struggling with limitations of home-grown lending solutions, take the first step in realizing the benefits of cloud by contacting our team today or registering for a demo of defi LOS.
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