Stewart Inselligence August 2014 “To CFPB or not to CFPB, that isn’t the Question”
by Darryl Turner

To CFPB or not to CFPB.  

That isn’t the question!

Now that Y2K is behind us and the 2010 HUD is a term you likely haven’t heard in a few years, it is business as usual…?!

Oops, now we have our new Y2K.  We have the CFPB.  Is it real?  Do we need to act and act properly?  Does this apply to me?  Am I at risk if I am not ready?

The answer to all the above questions is an overwhelming, YES!  But, how about these questions;  Will it one day be behind us?  Or this one; Should I keep building my business while dealing with our modern day Y2K?

Again, I say YES!!!!

Lets face it, we are more of a reactive industry than a proactive one.  That means we tend to put out fires instead of preventing them.  It hasn’t been too far in the past that someone would have been heard saying, “we have an order count problem this month”!  The scary news is that it will certainly happen again.  We will hear that again and even sooner for some that do not heed the advice in this video and article.  That advice is:  KEEP BUILDING YOUR BUSINESS!

Nobody has ever had an order count problem.  Order count is a result of customers and their activity.  So lets face it, anytime someone feels that they have an order count problem they are not actually seeing the problem, but the results of the problem.  Low customer count or customers not doing well in their business is the actual problem that must be solved.  The solution?  MORE CUSTOMERS!

So, we do need to take CFPB serious.  We do need to comply and do everything we are supposed to do.  However, if you don’t want to feel like, one day soon, you have an order count problem while your competition doesn’t appear to, then keep in mind that one day relatively soon, you are going to need your customers and you are going to need to have been building your business and company while all this was going on.  Don’t be caught up in the mono-vision business focus so much that you have literally stopped what even brought you this far, BUSINESS!  

COMPLY with requirements, FIND new customers and revenue daily, PLAN for a time beyond today and BELIEVE that this too shall pass!

To CFPB or not to CFPB, that isn’t the question!  

You can do this!