Musings from the CU Suite

Written by Anthony Demangone

Occasionally, an article catches my attention, because it runs against conventional wisdom. 

Here is one such article, written by Tomas Chamorro-Premuzic over at the Harvard Business Review. He argues that low self-confidence is the key to success.  

When one pictures successful executives, low self confidence usually isn't in the picture.  Instead, we picture leaders who know what to do, when to do it, and they know exactly why it must be done.

Fiddle-sticks, says author.

Well not exactly fiddle-sticks.  He argues this:

1. Lower self-confidence makes you pay attention to negative feedback and be self-critical
2. Lower self-confidence can motivate you to work harder and prepare more
3. Lower self-confidence reduces the chances of coming across as arrogant or being deluded

He summarizes his thoughts with this paragraph:

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"Low self-confidence may turn you into a pessimist, but when pessimism teams-up with ambition it often produces outstanding performance. To be the very best at anything, you will need to be your harshest critic, and that is almost impossible when your starting point is high self-confidence. Exceptional achievers always experience low levels of confidence and self-confidence, but they train hard and practice continually until they reach an acceptable level of competence. Indeed, success is the best medicine for your insecurities."

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As always, I urge you to read the entire article. So, loyal readers. Do you buy his argument? Is low self-confidence a key ingredient of success?  Let me know what you think. 

And as always, have a great week, guys. 

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CFPB Update: By now, I guess you've heard about the CFPB's little gift - the 1000+ page of regulatory proposoals and forms that might turn many mortgage processes upside down. If the whole thing is a bit overwhelming, a good place to start might be NAFCU's webcast tomorrow.  

The webcast originally was to cover regulatory hot topics, and the CFPB's latest action certain seems to fit the bill.  Carrie Hunt, NAFCU's General Counsel and Regulatory Guru, and Steve Van Beek, NAFCU's Compliance Guru, will lead the discussion.  They estimate that they'll spend 30-45 minutes on the CFPB's big mortgage move.  

Again, it might be a good place to start. Consider gathering your mortgage and compliance teams and tuning in.  Sign up here if you are interested.  (You don't have to be a NAFCU member to sign up!)