Three Reasons To Hire A Coach

I think those of us who aspire to be leaders in the mortgage industry sometimes get the wrong idea about leadership. Sometimes, we think that being a leader means being independent and not needing anyone’s help. As the leader, you are at the top–everyone is looking to you. Why would you need help if you are the one that everyone else is seeking help from?

Of course, this idea of leaders being lone wolves at the top of the mountain isn’t true in the least. Leaders are people and, just like everyone else, need a support system in order to be at their best. To some, the very idea of an executive hiring a business coach is absurd. Why would the coach need a coach? But even the best of leaders could use a coach to help them achieve their peak levels of success. Here are three reasons…

First is the insight that coaches can offer. No matter how much you as a leader know about your industry, your business, or the art of leadership, sometimes you are just too close. A coach is able to look at your situation objectively, and an outsider’s perspective can sometimes make all the difference. We sometimes miss opportunities to improve ourselves because we won’t let ourselves admit our deficiencies. A coach can see what we cannot and point out to us areas in which we could become better. The best leaders seek out coaches, because they want to be better–and they know that they can’t do it alone.

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A second reason to bring on a coach is the encouragement a coach can offer. If we aren’t careful, the pressures of leadership can break us. As the saying goes, “it’s lonely at the top.” Oftentimes, leaders get none of the credit and all of the blame. They are the scapegoats when things go wrong. If there’s an issue, fingers point automatically to the ones who are in charge. Being under such constant pressure and scrutiny can be quite disheartening. A coach, is light and fluffy as it my sound, can help leaders keep their spirits up. Even the strongest of us are not robots; we need encouragement and inspiration just like everyone else. A good coach can provide that for us.

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Finally, coaches offer accountability. They keep us on track when there is no one else to do it. While executives are responsible for everything that happens in the organization, they have no single person to answer to. The temptation, whether or not we would like to admit, can easily arise to cut corners or slack off. If the performance of one of our employees goes down, we notice immediately. If our performance goes down, the effect is a lot more gradual and it may take longer for people to pick up on it. A good coach can help us set objectives and monitor against meeting those objectives. The success of our organizations and our the entire industry hinges on whether or not we can proactively set the appropriate example. A coach can keep us aligned with our goals so that can continue to set that example and be the leaders we need to be.

About The Author


David Lykken has garnered a national reputation as a visionary, entrepreneur and business leader within the mortgage industry. He has also become a regular guest on the FOX Business News with Neil Cavuto, Stuart Varney, Liz Claman, Dave Asman and others. He has been a special guest of Governor Mike Huckabee on FOX News’ #1 weekend rated program “Huckabee”. He has appeared several times on the CBS Evening News, Bloomberg TV & radio, NPR and many radio shows. On matters related to the economy, housing and mortgage lending, David is frequently quoted in leading newspapers across the country as well as the Wall Street Journal and the New York Post. Additionally, David has his own national weekly radio program called “Lykken On Lending” that can be heard each Monday at Noon Central time by going to .

As co-founder and Managing Partner of KLS Consulting doing business as Mortgage Banking Solutions, David Lykken has over 37 years of management experience as an owner/operator with in depth expertise in real estate finance and housing. His knowledge and skills comprise a unique blend of technology and business strategy. Above all else, David loves helping business owners and executives navigate through extremely difficult business circumstances helping them overcome seemingly insurmountable obstacles while rediscovering themselves and their passion for life and living.

Dave is married, has two daughters and currently resides in the beautiful Hill Country of Central Texas near Austin, Texas. David received a bachelor’s degree in 1973 year from Pacific Lutheran University in Tacoma, Washington.