In this episode of our Sense of Identity podcast, we sit down with Chris Schutrups, founder of The Mortgage Hut, to discuss his dynamic entrepreneurial journey in the mortgage and finance industry. With an extensive background in both finance and hospitality, Chris shares valuable insights on customer-centric business strategies and the importance of leveraging technology for growth.
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Chris brings a wealth of experience, having led The Mortgage Hut to become one of the UK's leading mortgage advice brands.
His journey also includes significant roles in the UAE's mortgage market and ventures in the hospitality industry.
Q: Chris, can you start with an introduction to yourself and your role at The Mortgage Hut?
A: Absolutely. It's great to be here. I’m Chris Schutrups, founder of The Mortgage Hut. We provide tailored mortgage advice to thousands of customers each year, leveraging a vast network of over 90 mortgage lenders. Besides The Mortgage Hut, I have diverse business interests, including hospitality and consultancy roles.
Q: Why is a customer-centric approach crucial in the financial services?
A: Customer-centricity is key across all sectors. For us, it's about creating value and ensuring a personalised experience. Whether in mortgages or hospitality, understanding and meeting customer expectations is fundamental to success.
Q: How has technology influenced your business strategies?
A: Technology is a game-changer. In my hospitality businesses, we implemented integrated booking systems to enhance customer convenience. In finance, we've adopted marketing tactics like SEO and Facebook marketing, significantly reducing our customer acquisition costs and improving engagement.
Q: Can you share your experiences with regulated industries and their impact on business?
A: Regulated industries, such as finance, present higher barriers to entry, but they also offer better margins and stability. My experience in these sectors has shown that compliance and regulation can drive better customer outcomes and sustainable business growth.
Q: How do you balance your diverse business interests?
A: It's about having a great team and leveraging their expertise. Whether in hospitality or finance, having skilled people who share the vision is crucial. Additionally, staying adaptable and continually evolving based on customer feedback helps in managing multiple ventures.
Q: What advice would you give to your younger self or new entrepreneurs?
A: Just do it. Take that first step without overthinking. The hardest part is starting, and once you do, you'll find ways to navigate challenges. Also, don't be afraid of failure. It's better to try and fail than to never try at all.
Chris's journey underscores the importance of innovation, customer focus, and resilience in building successful businesses. His insights are invaluable for entrepreneurs and professionals navigating the complex and ever-evolving landscape of the mortgage and finance industry.
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