How Money Lender from Bulgaria Started her Business in Australia
Toni Mladenova is the co-founder and CEO of the money lender company, Yard. Her company is focused on providing different types of loans for clients depending on their individual circumstances. They also help customers refinance their mortgages for various reasons like trying to get a better deal to improve their return on investment.
Come with us as we delve into Toni Mladenova’s incredible journey starting from her time in Bulgaria and learning about what her experience was growing up, traveling to many amazing places like the US and the UK, who was one of her main influences, we find out about how her property journey began, she talks about what she has learnt from purchasing investment properties, and much much more!
Being a mother and the CEO of a successful company, we find out about what a typical day looks like for her.
I’ll first start just with the personal side. So I am a mother. I have an 11 month old daughter and she’s keeping me busy a lot outside my super busy work hours. When it comes to work, I do own my own business. The business is called Yard. We are a specialist mortgage provider. So what I do on any given day, the first thing is really to touch base with our loan consultants and understand what are all of the customers that we are currently talking to and trying to help with their home loan needs. So I’m really focused on making sure I understand what our customers need, what their strategies are and how we can assist them on their property journey. And as a CEO, really my job is to be challenged every day around how we can improve our offering and serve our customers better. And as we are a digital business we also challenge ourselves every day to innovate around our processes and our operating model to make sure that we deliver really delightful customer experience along the journey.
We delve into Mladenova’s business, Yard, and find out about how they help their clients with property.
Yard is a money lender and we focus on providing home loans. And the way I talk about the business is that we are a specialist mortgage provider. So what this basically means is that we provide all types of home loans that you can think of. So we help people buy the property. So these are owner-occupied loans. We help investors buy investment properties. We provide customers with loans to purchase vacant land as well as construction loans to do construction projects. We also help with customers refinancing and customers could refinance for different reasons. They might be seeking a better deal to improve the return on their investment, for example. Or they might be seeking to access and tap equity within their home. And we also have a niche around how customers purchase a residential investment within their SMSF. So we are one of the few players in the market that are continued to play within that segment.
Mladenova shares with us a little bit about her past and we hear about where she grew up and the different places she has traveled to..
I was originally born in Bulgaria, that’s in Eastern Europe. And I lived there until I was 18. When I turned 18, I just became very, very interested in European culture, European studies, and I moved and I lived in the Netherlands for three years. I lived in a small town that’s called Maastricht. After the Netherlands then I had a fascination with the US which took me to California for a year. Lived in San Diego by the ocean. Absolutely fantastic experience. Then after the US I still had the itch to travel and experience new places. I spent two years in the UK. And then in 2011 I came over to Australia.
Such an interesting journey and it all started in Bulgaria, we learn more about her childhood and what it was like growing up there.
I remember it very clearly and I still primarily identify myself as being Bulgarian and my whole family is still back home. And I travel every year to Europe to visit them and spend some time over there. I mean it was interesting. So my childhood was spent in the 90s, this was just after the fall of communism and the change to a democratic regime within the country. And you know, the whole country trying to move to a new type of economy and discover what capitalism is. You know, I do remember when we first got real Coca-Cola. So that was a very exciting time. You know, being introduced to all Disney and being able to actually watch really high-quality cartoons. That was very exciting. Then we had a pretty big economic crisis in the late nineties which is something that we also had to live through. But overall, you know, I just have very, very happy memories from my childhood.
Education is different all over the world and we hear a fascinating story about her time at school.
I did go to a primary school and high school in Bulgaria. What’s interesting is because Bulgaria is a small country it’s very important for everyone there to get immersed and learn foreign languages. So, I actually went to a Russian primary school in Bulgaria. So I was introduced to the Russian language at a very early age. And then I moved again to a foreign language school for high school where I studied English and German. So a lot of the subjects were actually taught in English. So it was very exciting to get introduced to so many foreign languages, at a very early age. And you know, as I’m sure you’re aware that one of the best ways to actually get to know another culture is through their language. So, you know, that was a fantastic opportunity for me to just just explore foreign cultures and learn about, you know, how people live in other countries.
After traveling so much at an early age, she talks about some of the cultural differences that she noticed between other countries and Bulgaria.
There were a lot of different cultural traits and behaviours and norms really as to what people accept as normal and these could be little things, but could also be broader things around how you interact with one another. And one thing that has made a big impression on me and comes back to me quite often in my work life and also personal relationships is people in Eastern Europe tend to be quite more direct than what you find in Western cultures. And that exposes itself in numerous ways. For example, of the workplace in terms of how you provide feedback to your colleagues. And then in your personal relationships outside work is, you know, the way you actually deliver news or express your opinion. So in Bulgaria, people tend to be quite more to the point and at times someone would consider here to be and come across as quite short or at times it would be perceived as aggressive. So you know, this is something that I have had to learn and have had to change in my own style.
We talk about what she decided to do after school, whether she jumped into the workforce or tertiary education.
When I was 18 I became very fascinated with the whole concept of the European Union and what type of political creature that is. And I went to do my undergraduate degree at Maastricht University. So the background to that is that the European Union was actually set up through the Maastricht Treaty. So the European union was set up in Maastricht and then the university there set up a faculty that was dedicated to the two European studies. So it, you know, was absolutely the place to go and study political science and everything that has to do with the European Union, which is what I went and did for three years.
It was a fascinating place because the town is located on the border of the Netherlands, Belgium and Germany. So it’s very, very international, you know, like a true European city, I often compare it to Brussels. So very much multicultural. And, you know, it allowed me to really try to learn and understand how the European Union works and what the vision was for the Union. And as I continued to develop further interest in social sciences I decided to go and spend a year in California. So I was at the University of California, San Diego where you know, again, a very strong place to study politics and also you know, there’s actually a marine base over there. So everything that has to do with national security.
It was also a very good topic to study at that uni. And this is something that I was really passionate about at the time. And after I finished in California, I spent two years studying at Oxford University in the UK. I did a degree that’s actually called an infill. So this is a research oriented degree and people tend to usually get that on their way to obtaining a PhD. But you know, I actually thought, oh look I don’t think academia is for me. I really want to get my hands dirty and get into the workforce. So I graduated from Oxford and moved to Australia.
What an amazing journey to be able to experience university life in different countries. We find out how she was able to fund her journey.
I’m going to say that it was not easy. It is expensive. So look, my studies were funded, you know, firstly through scholarships. So coming from Bulgaria, you know, it was quite hard and the difference in living standards made it very, very expensive. So definitely scholarships and then I also had to work in addition to studying. So for example, while I was at Oxford, I had a part-time job and I was working for a consulting firm.
So it was very relevant towards my studies. It was a consulting firm with a number of different strategic and operational topics. And you know, this type of experience really gave me what I needed to then start thinking about how you actually set up and manage and grow your own business.
How long did you work there for?
So with the consultancy firm in the UK, I was there for about two years. When I moved over to Australia, I also worked for a management consulting firm. And the whole idea about Yard was born in 2017. So we’ve been going for about three years now.
Mladenova explains what her role was whilst working for this company and what she was able to learn from it.
I was a management consultant and actually there are a number of jokes around what management consultants actually do. And it’s actually not that easy to explain, but I’ll give it a shot. I would work on a variety of strategic and operational topics, consulting and advising executives at large financial services firms. So that could be banks, insurers, wealth managers and we would work with executives on everything, you know, the key topics that were on their mind. This could really vary; it could be a topic around entering new markets, launching new products, targeting a new customer segment. Thinking about what are all of the changes in the business they need to do to hit their next growth target. But it could also be various cost related topics. For example, how do I make my processes more efficient? How do I streamline my cost base? How do I restructure my company? So you know, the variety of topics is really, really wide. And you work with key decision makers within the business. So it’s a very, very challenging role. The learning curve is very, very safe. And you know, you get to advise very senior executives. So absolutely tremendous learning experience for me.
We learn about one of the influences that she had that inspired her to start a company of her own.
My mother has always had her own business. And you know, as I was growing up I was always very fascinated to see how this works, get involved and drive different initiatives on my own. She’s in an obviously different vertical, but she has been an entrepreneur all her life. And I was definitely inspired by her. But then also what inspired me to set up Yard was just seeing how the money lending industry works within Australia and then identifying opportunities around how we can make this better.
Her mother had a major influence on her and we find out more about her mother’s amazing story.
My mother set up her own business while she was quite young and she had, you know, this story where you literally build something from nothing. So just going back to my story about the crisis in the 90s in Bulgaria, which is where my mother started her business. So all her life she has been in retail. So she has had two parts to her business. One is actually manufacturing clothing and the second part is retailing clothing. And she was focusing on kids. So it’s really about children’s clothing, manufacturing and then retailing. And she had her own factory that was taking care of the manufacturing part and then retail outlets. It was very fascinating to see how her business evolved. So in the 90s while the economy was still largely closed and local manufacturing was successful.
The manufacturing side of her business was quite strong. And then you know, in the 2000s as the whole offshoring and outsourcing towards China and then Asia and obviously other countries as well progressed. You know, unfortunately it was very difficult for her to compete on the manufacturing side. So she did close that part of her business, but then she saw a tremendous opportunity to expand her retail outlets. So she just opened more stores and she was focusing on the retail side.
At the same time, were you also already overseas at the time when she was expanding or did you go back and help her as well?
She was expanding when I was in Bulgaria, but then obviously in the last 10 years, the business has been evolving while I was in Australia. And it’s been great for me to be able to have her from a supply chain perspective. And what I mean here is, you know, introducing her to wholesale in overseas and then helping her with that international communication that, you know, unfortunately she didn’t have as much experience with.
After traveling to so many different countries and experiencing their culture, Mladenova tells us why she was drawn to Australia in particular.
I think Australia is such a fascinating country. The true reason is that I did meet my husband in the UK and my husband is Australian and in 2011 during the financial crisis, Australia was relatively fielded in the way it managed to live through those times. And we thought that it’s a good opportunity to actually move over here and pursue our careers in the Australian market. But I just want to say, you know, independent of my husband, if I was presented with the opportunity to move to Australia, I would have anyway, it’s a great place.
We delve into her property journey and find out about some of the properties that she has purchased whether here in Australia or in other countries.
We do own our home in Australia, so we live in Sydney, in the Inner West. Very close to Newtown. Absolutely love the area. We bought the property in 2013. So we were able to get into the property market, you know, before the spike in property prices. So, you know, from an equity perspective and capital gains perspective, I think we were incredibly lucky. And then I do also own real estate in Bulgaria. So I did buy two apartments at the time. They were bought off the plan actually. And at the moment these are investment properties.
Mladenova explains why she decided to buy investment properties over in Bulgaria.
I was hopeful that I could actually, you know, generate a return from the investment. So it was an off the plan purchase and it was just at the beginning of the city where I bought, you know, there were a number of construction projects and investments in terms of construction companies starting to build high rise apartments. And up until that point that construction was very limited. So the opportunity I saw there is the increasing amount of investment of foreign companies. So there are a lot of factories and manufacturing facilities in that city. So what I was really hopeful about is that we are going to see population growth and move from regional areas towards that city. So, you know, at the point that happens, you know, people are going to need places to live.
So I thought apartments are probably the right type of property to consider at that point. Because it was an off the plan purchase, while riskier, it was a good price point to get in. And you know, I think they have been good investments. One thing that we don’t have in Bulgaria that we’d quite like to have in Australia at the moment is, unfortunately, home loan rates, interest rates over there are much higher. So obviously that impacts the return on investments that I’m able to get at the moment. But I hope we see a decrease in interest rates over there as well.
The financial sector can work differently from country to country so we dive into how getting loans or investing in property works in Bulgaria compared to Australia.
It is similar to Australia, but obviously the credits press over there are a bit wider. So unfortunately the interest rate that you get on a home loan is higher. So you’re looking probably at around 4 to 5%.
But if you look at Yard at the moment, our variable interest rates started 2.66% per annum. So you know, you’re looking at half and the other difference in Bulgaria is that you can actually have a fixed interest rate for a much longer duration. And then obviously that could have advantages and its disadvantages depending on what you’re looking for in a home loan product.
Looking back upon her property investment journey so far, we find out whether there has been a moment that nothing went right for her.
If I reflect on my property purchases and property investments, I do think that in hindsight I have made the right decision. A qualification on the purchase of the two apartments that I bought off the plan and then as I said, you know, it’s always like a riskier investment. The construction company that was actually building the apartments did not do a good job on finishing the landscaping around the apartments. So actually funnily enough, 5 years later after the apartments were built and people moved in, that type of work is still not finished. And it turns out that contractually it was not clearly specified that the construction company needs to do that. So probably I should have done better due diligence on that part. And it’s something that I’ll keep in mind for the future is whenever you’re approaching something off the plan, making sure that whatever you contractually sign up to will make sure that the developer is going to complete the full project and always have in mind how you actually define complete. And that’s everyone. Everyone is on the same page.
Has the unfinished landscaping actually had an impact on the investment in terms of getting tenants?
The properties to rent it out from a rental return perspective, I think the impact has not been huge. I do wonder though if I wanted to actually sell the place I do believe that the selling price would be impacted by the fact that the block does not have proper landscaping.
How You Can Find A Better Home Deals with Money Lenders
We start off by discussing one of the moments in her journey that everything seemed to click for her.
I do have a lot of aha moments and I think they’re probably related to how people think about property and what matters to them. So what are some of the kind of interesting behaviours is how people think about the loan to value ratios at which they buy. So particularly at Yard we have had a lot of investors that are very keen to purchase with a very low deposit. So I’ll give you an example, with Yard you can purchase an investment property with a 10% deposit, which means that you’re at 90% loan to value ratio. Whenever you are purchasing, as you probably know, with an LVR higher than 80% there is lender’s mortgage insurance involved which is an additional cost. So, you know, initially I thought that people would be looking to avoid that whenever possible, but we actually have found that there are a lot of investors that are quite keen to grow and expand property portfolios quite quickly. So they’re looking to do that low deposit purchase just so that they can save their cash and then very quickly be in a position to buy a second investment property.
I guess them leveraging out that 90%, there is definitely mortgage insurance regardless of which institution you go to. Is that the norm or is it something that’s different about Yard?
Generally, there is lenders mortgage insurance involved for purchases above 80%. And I think that would be for the majority of institutions within the Australian market. Whenever you talk about purchasing any investment property, yes, there will be a lender’s mortgage insurance cost involved.
We find out more about the lender’s mortgage insurance and how it protects the money lender.
The lender’s mortgage insurance, well, it actually doesn’t protect the borrower. It protects the lender. And the reason money lenders do that is that you know, statistically, data has shown that obviously for a loan to not go into arrears and for borrowers to continue paying their loan they need to have had an upfront equity contribution towards that purchase which was considered, you know, like a standard contribution at around 20% of the value of the property. However, at the point, you actually reduce that 20%, and you have less than 20% deposit, from a money lender’s perspective, this loan is considered riskier so which is why borrowers are required to get lenders mortgage insurance. And what that does is it protects the money lender in the case the borrower actually goes into arrears and then cannot repay their home loan.
Mladenova talks to us about the mindset that Australians have when it comes to property investment and how she is intrigued by it.
What I’m fascinated by is really understanding customers’ minds around property and what their aspirations are. I guess other interesting examples are how people think about their retirement and what’s fascinating in the Australian market is the importance for people to actually own a property. I think that’s quite unique to the Australian market. If you compare other countries, you know, that goal of actually owning your home, I don’t think it’s that prominent. But in Australia, this is so deeply, you know, I believe embedded and it’s so Australian for everyone, to own their property. And you know, people work very hard for it. You know, people would be saving for a deposit for years to be able to get into the property market.
And then similarly whenever people start planning their retirement there are a lot of people that, you know, consider self managed super fund options and then obviously purchase a property as part of their SMSF. So what’s been interesting for me is also to understand, how people think about what’s going to deliver them confidence, certainty in their retirement. And then obviously, you know, like the property class investment is something that they quite often consider and you know, and the kind of sort of the stable and predictable return that you would get from rent income in your SMSF.
We delve into the main driving force that led her to co-founding her company, Yard.
I consider myself very entrepreneurial and what really excites me and drives me is being able to constantly analyse the environment that I’m in, find challenges and then think about, well how would I go about solving them? And you know, there were two drivers for us, myself and my business partner in starting Yard. The first one experienced throughout my own buying journey in Australia. I just thought that it’s very manual, it is slow, it is complex and I just found it very difficult to do the research around what home loan product options are available for me out there and try to understand them myself.
Which is the reason why I believe the mortgage broker industry has been so successful in Australia. And the reason is that the industry and home loans are just overly complex and you need someone to sit you down and actually explain to you how you can navigate that whole landscape. And you know, this is a problem at the point you’re trying to compare and understand what’s the best option for you. But it’s also a problem if you enter into a loan contract or product that you don’t fully understand the implications of. So I think initially when we first spoke about Yard, I mentioned to you how we were reading this UBS consumer survey and there was a question where they were interviewing people that have interest only loans and 30% of those people didn’t know that their loan is interest only.
So just background to that. Obviously let’s say, you know, you have an interest-only period, which could be anywhere between 1 to 5 years, potentially longer and during that period you pay only interest on the loan that you have borrowed. And then at the point, your interest-only period expires, you need to start paying principal and your payments significantly go up as you have a shorter term to actually repay that loan. And you know, by these people not knowing that they’re on an interest-only product, that means that at the point their repayments go up, that would be a significant financial shock to them. And it could potentially create significant financial difficulty for them. And whenever I think about that, I’m like, well, this is really on the money lender.
The money lender should be fully explaining to a customer what type of product they’re entering into and what are all of the things they should consider about and be fully informed. Which comes down to what I’m personally very passionate about which is financial literacy. So really these two points around, it’s just confusing and complex when it doesn’t need to be. And then money lenders can do more to actually educate customers around financial literacy. Which is what motivated me to go and set up our own home loan lender. What Yard tries to do is try to deliver what we call the simple home loan. You know, like home loans do not need to be overly complex. And then along the journey provide the required support. We have what we call our loan consultants that work with our customers from the point they make the first inquiry all the way through to settlement. And the loan consultant works with you to your own schedule to really answer any questions and provide that insight. Kind of replicating the whole private banking experience.
We gain an understanding of how her company, Yard, has simplified getting a home loan online.
I think the first thing that really differentiates is in being simple. You can start an application for a home loan online and you can complete and finish that within 20 minutes from whatever device that you have handy. So you can do it via your laptop or you can do it via your mobile phone. So you do not need to attend a face to face conversation or you do not need to complete any PayPal, physical forms. And you know, once you actually go through that application process we also try to make it very easy to be very transparent about the rate that we provide. So you can jump on our website and we have little widgets that you go through and you can actually see what your rate is.
And then the third way we try to make it very simple is around features. So online can have different features that are attached. So we provide one rate and it comes with all of the features that you want. So it’s a fully featured product and we do not have the complexity where we have five different home loan products that all have different names just because they have a different feature and they have a different interest rate. So we just try to streamline things from an interest rate perspective and from a feature perspective. So it’s basically you just go on our website, you check out a little widget, you understand what the interest rate is, and then you just get a fully featured product with that.
As one of the co-founders of Yard, we learn about how she met her other co-founder and how they started the company.
We met through our work life. So we are both in financial services. Establishing a money lender requires a number of different skill sets. And we both brought different skill sets to the table as to what was needed to actually be able to stand up the end to end organisation. So me coming from a management consulting background where my experience lies is creating new businesses from scratch, setting up digital operating models, thinking through the overall strategy and operations of the business and how we interact and work with customers. My partner’s name is Nathan Gooley. Nathan comes from a very technical finance background. So what he really drives within the business is the whole funding and product and everything that has to do with it. That’s sort of the more technical finance side of things.
Starting a new company is never easy and there will always be challenges along the way. We find out what some of them were for her.
Setting up a business could be quite daunting, no matter what business you set up. It is daunting in the beginning. You need to be very goal oriented and action oriented. So every day that you go in and work on the business, you need to have a very tangible outcome that you’re working towards. And I think the most important thing for any business owner is persistence and resilience. You know, you’re going to have a lot of wins, but you’re always going to have setbacks and challenges. Things could be taking longer than what you initially expected. You know, there could be some unforeseen obstacles that you need to all have a calm, but to be successful you obviously need to have the skills and intellectual capability to do whatever you have set out to achieve. But being persistent and resilient are the two key things for me in being successful.
Mladenova explains what differentiates Yard from say a big four bank or another money lending institution.
Whenever you come to Yard you apply and you obtain a Yard home loan. We do not take deposits which is probably as to how you would differentiate us from a bank. So, you know, the correct industry term is we are a non bank lender or a specialist mortgage provider.
Yard is aimed at providing better deals for their customers and we learn about some of the different benefits that they offer.
The way I talk to investors is obvious whenever you go and you make a property purchase, there are really a few things that you should look out for. The first one is the property price that we should get in. You know, so you obviously want to pay as little as possible for the property that you’re getting. You want to get a really good home loan and that refers, you know, here I talk both from a rate and also feature and flexibility perspective. So obviously, you know, the lower your rates, the better return on your investment. And then the third thing is to really think about who is your property manager. Make sure they maximize your rental returns. And then how the property is managed overall. So we try every day to play our part around the second point that I spoke about is talking to our investors and thinking about how we can provide the best lending product for them to maximize their return on their investment. The amount of interest they pay and then obviously say to pay off the loans that they have taken as quickly as they can.
We delve into what the future may hold for Yard and the direction that she sees the company heading in in the next couple of years.
We are looking to grow in terms of the number of customers we have. We are looking to grow within pretty much all of the segments of mortgage lending. So investor loans, construction loans, homeowner occupied and also SMSF loans. And then once we go through that growth, the next big challenge for us would be to actually add on additional products and features that we can offer to our customers. For example, delivering, you know, a credit card product that’s linked to your home loan.
We find out how long it will usually take for a new applicant to apply for a loan and bring over their existing loan to Yard.
From the point you complete an application and provide all of the information we need we typically take between 24 to 48 hours to assess your application. And then at that point we send the loan documents. At the moment we send these via email and then, you know, customers then review the documents. And then it really depends on how quick the customer is in terms of returning the documents back to us. Outgoing money lenders typically take around 10 business days to process what’s called a discharge request. So at the point, you know, you want to take out the home loan, we do need to discharge your existing mortgage. So we do need to wait for the outgoing money lender to process that and then we proceed to settlement. So realistically the end to end process, you know, with allowing the customer to take some time to review everything is probably around 3 to 4 weeks time.
The valuation of the property is a key aspect when it comes to loans and we discuss the process that Yard has in place when it comes to valuing the property.
We do need to do a valuation of the property. We do online valuations for certain types of properties, so where you have a low loan to value ratio, we could be able to do an online valuation. But then of course if the LVR is high we might need to actually go and inspect the property.
We also delve into the complex nature of self managed super fund loans and learn a little bit more about how they work.
What makes it a bit more complex is there is a bit of legal work that needs to be done by the customer around setting up the appropriate trust structures to buy the property, which is what the customer does with their accountant, their solicitor. So at the point they have that documentation ready then it needs to be reviewed by our lawyers. And then, you know, once this is actually done, it pretty much works like a normal home loan. However, customers do need to be aware about all of the rules and particular accounting rules that the ATO has in relation to an SMSF and how you manage a property asset within an SMSF.
Do you currently offer the same rates for SMSF or are they slightly different?
SMSF rates in general are a bit higher than what would be your standard sort of investor rates if you are purchasing a property in your own name.
Having someone that you can go to for advice and some inspiration is always important and we find out how they helped her.
Support networks are always very important. I have a number of mentors that I have, you know, accumulated throughout my journey. And they all come from different walks of life. So being able to, you know, have a meeting and have a discussion and just brainstorm a problem or a challenge that you have with somebody that you trust has always been very helpful. And then obviously just reading a lot and, you know, constantly trying to understand how people think about problems and then what I can take from that and then apply into my day to day activity.
We learn about some of the books that she has read that have had an impact on her.
My Bible has been for a few years now a book called The Lean Startup. And what the book really talks about is, you know, how you can be entrepreneurial and just bring an idea to market really quickly and talks about the importance of actually rapidly testing an E-Trade and learn from your experiences.
She also shares the best piece of advice that she has ever received.
It depends on what context, but the thing that I have been coming to a lot in the past few days and weeks especially in the conscious of what we are going through at the moment with the COVID-19 situation, it’s really being able to understand what is in your control and what are the things that are not in your control. And then channeling your energy actually to the things that you can influence because if you’re spending all of your energy stressing or worrying about things that you cannot control, you can very easily burn out.
If she could go back in time and tell herself one thing, what would it be?
What I would have said to my younger self is probably be bold to invest in yourself, which is going back to the point that you spoke about being an entrepreneur and constantly like doubting yourself. You’ve got to believe in yourself that you have the capabilities and then actually go and invest in yourself and you’ll automatically be successful.
We delve into what she is most excited about achieving in the near future.
What really excites me is being able to help customers and receiving fantastic feedback from our customers. And this is what keeps me super excited about this business and the way we define success for the moment is what people say about us and experience people have with us.
How much of your success is due to skill intelligence and how work and how much of it is because of luck?
I’m a very big pragmatist. And I would say that actually very little has been based on luck. And I would say, unfortunately, because that’s unfortunate to say, but I think, you know, there has been a lot of hard work. And as I previously spoke about persistence, you know, it’s hard to deliver. It’s hard to deliver overnight success in my opinion. You know, and in my experience, it has really come down to persistence and being resilient.
If you want to take a leap (just like I did), click on this link and try it for yourself to apply for a loan with Yard today.