Loren Howard is the Founder and President of Prime Plus Mortgages, A Hard Money Lending, and a Mortgage Note Investing Company. He is a successful decorated college athlete turned serial entrepreneur who has launched companies in varying industries to the 7, and 8 figure marks. He holds a decorated football career and several world records for the indoor row for the 500M, 100M, and max distance in 1:00. Loren currently serves as the Co-Founder and President of the Valley Guardians, a 501c-3 charity that offers mentorship, leadership, and educational opportunities to underprivileged children in Phoenix, Arizona.
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Table of Contents
Thank you for joining us today. Please introduce yourself to our readers. They want to know you, some of the background story to bring some context to your interview.
Loren Howard: For the longest time, my dream was to play in the NFL. I was driven to be the best, strongest, and fastest player I could be. I was a Freshman All-American Defensive End, and Big Ten Defensive Freshman of the year. Sophomore year, I was All-Conference Defensive End, and in my Junior year preseason, Mel Kiper ranked me the second defensive end to go in the draft. The third pick went first in the draft (Mario Williams) and the guy ahead of me went 10th that year in the draft. Unfortunately, I got injured and never really recovered properly and couldn’t compete at the same level.
I was always extremely driven and self-motivated so when I transitioned from sport to business, it just made sense to go my own way. After a few tries, I hit success, and have been pursuing new ventures to repeat the success! My primary business is now Prime Plus Mortgages. I knew investors needed more options for real estate investments, and so we are focused on becoming the best hard money lender in Arizona.
You are a successful entrepreneur, so we’d like your view point, do you believe entrepreneurs are born or made? Explain.
Loren Howard: I believe that entrepreneurs are born. It’s a type of mindset that concerns itself more with building things rather than looking at risks.
If you were asked to describe yourself as an entrepreneur in a few words, what would you say?
Loren Howard: Student – Mentor – Curious.
Tell us about what your company does and how did it change over the years?
Loren Howard: I started lending as I had investments of my own and my network was looking for a lender. As time progressed we were able to take that knowledge I had from being a hands-on investor to offering the best VIP lending experience. We also know that variety for investments is important so we now offer Mortgage Note Investing options to our clients.
Thank you for all that. Now for the main focus of this interview. With close to 11.000 new businesses registered daily in the US, what must an entrepreneur assume when starting a business?
Loren Howard: You don’t know what you don’t know! So you need to learn quickly in order to be successful. Find a way to learn something new about business and apply it every day and also try to find a mentor or coach!
Did you make any wrong assumptions before starting a business that you ended up paying dearly for?
Loren Howard: I was more concerned with the technicalities of running a business more so the marketing of my first business. I was so excited that the business was legit that we had overlooked how people were going to find out about our business and so we did not make a sale when we launched. it’s more important to have a marketing and sales plan for your business than have the technicalities that were needed!
If you could go back in time to when you first started your business, what advice would you give yourself and why? Explain.
Loren Howard: Learn fast and make changes quickly. Instead of dwelling on your failures, it’s more important to pick yourself up and start again. It may have taken a few tries, but once I knew what needed to happen, had the right people to make it happen, and had the vision I was able to launch a successful company one after another.
What is the worst advice you received regarding running a business and what lesson would you like others to learn from your experience?
Loren Howard: I didn’t have bad advice I had received over the years, but more that it’s important to find a mentor and coach to help take you to the next level. Only take advice from someone who is knowledgeable and be sure to pay attention when someone offers advice.
In your opinion, how has COVID-19 changed what entrepreneurs should assume before starting a business? What hasn’t changed?
Loren Howard: Covid sped up the adoption of these technologies. It’s interesting to see how much more efficient businesses have been able to get through this time when they have been forced to evaluate inefficiencies. Be one of the first adapters for new technology
What is a common myth about entrepreneurship that aspiring entrepreneurs and would-be business owners believe in? What advice would you give them?
Loren Howard: A common myth is that you just need to grind it out. I think you should be able to rely on your network and your team to learn and be successful. If you build the right network and team things come together more easily.
What traits, qualities, and assumptions do you believe are most important to have before starting a business?
Loren Howard: Any Entrepreneurs should have the following: Vision, Drive, and Leadership in order to be successful. I think being able to have a vision, be able to build a team, and inspire them to achieve a vision for you are all the ingredients for success.
You have shared quite a bit of your wisdom and our readers thank you for your generosity but would also love to know: If you could choose any job other than being an entrepreneur, what would it be?
Loren Howard: When I was younger I always wanted to play in the NFL.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Loren Howard for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Loren Howard or his company, you can do it through his – Linkedin Page
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