Mat Ishbia: Dream Big Then Make It Happen | E86

Welcome to In Search of Excellence! This is part 2 of our fascinating conversation with Mat Ishbia!

Mat is the Chairman and CEO of United Wholesale Mortgage, the largest wholesale mortgage lender in the United States, which had a $931.9 million net income in 2022. Mat owns 71% of the company shares that are worth $5.9 billion, which places Mat at 156 on the Forbes 400 in early 2023.

Mat and his brother Justin bought a majority stake in the NBA, Phoenix Suns and WNBA, Phoenix Mercury. Mat was a member of the Michigan State Spartans basketball team that went to three Final Fours and won the NCAA championship in 2000. He is the author of the book “Running the corporate office: Lessons in Effective Leadership from the Bench to the Boardroom”, and is a very generous philanthropist who has given away more than $50 million.

1:10 What does Mat look for in a new hire at UWM?

Mat doesn’t care about the diplomaHe looks for someone with a heart, work ethic, attitude, and drive to be greatKnowledge is a commodityBe a human being, be engaged and energetic

 

4:56 The Importance of little things for success

Mat is looking for difference-makersIntangibles are much more important than the tangibles

 

10:23 Advice to people who have dreams

Randall’s meeting with Bill DavidsonThink crazy big and then work towards itPut the work in and be the best

 

14:05 No meeting Thursdays

Mat responds to every emailNo meetings on Thursday – talking and checking with peopleYou have to be in the weeds of your business to be successful

 

15:55 Advice to people who are not working as hard as they should

Work ethic and attitude are the biggest determinators of successGo to places that provide opportunityYou have to sacrifice to be the bestMat is sacrificing for his kids and his business

 

19:14 The importance of extreme preparation

Game plan and role playPreparation leads to successEverything is about preparation

 

21:40 Owning an NBA basketball team

Managing a team is much fun in all areasMaking a positive impact on team members, fans, and the communityCoaching his childrenTeaching life, skills, personality, the importance of supporting your teammates

 

24:35 How important is giving back to our success?

Giving money is only one part of giving backYou can give your time and care

 

25:30 Fill in the blanks to excellence

The biggest lesson I've learned in my life isWork ethic and attitude always winMy number one professional goal isTo get better every single dayAnd more

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