The Key To This CEO’s Success? Embrace The Chaos

Rakhee Dhingra is the founder and CEO of Mortgage Savvy, but she is so much more than that! After being dubbed Women of Influence 2022 by the Canadian Mortgage Professionals (CMP), Dhingra alluded to the fact that life took a turn in 2020. At the time, she had experienced some hardships that set her back financially, which led to her having to rebuild herself and her business.

Intrigued?

I know I was.

After sitting down with Dhingra and talking about her story, I felt inspired and invigorated by her strength, kindness, and energy.

If you’re going through a tough time, whether it’s related to your business or not, I have a feeling that you’d benefit from learning about her journey as well.

So, my friends, strap in!

Who Is Rakhee Dhingra?

Dhingra originally completed her Bachelor of Commerce degree at the University of Toronto. After that, she explains that “the natural progression, coming from a very traditional East Indian family, was to climb the corporate ladder. So that meant getting my first job with an institution and so I went on to work with Citibank Canada. That opportunity opened up in my third year of university when my professor approached me and suggested I apply for a position where I would be deemed a Relationship Associate.”

She notes that “my skillset and my unique ability lies in connecting with people. I’m a natural connector. I love creating networks and listening to people’s stories. I’m also very inquisitive and that’s just something that’s always been natural to me. The opportunity at the bank allowed me to take an extra year at university, which paid off in the long run because it gave me the opportunity to go right from university into a professional position.”

One crucial takeaway Dhingra had from her time at the bank is that “people really value relationships. In today’s world that moves as quickly as it does, people have forgotten to listen, slow down, and ask the right questions. It doesn’t come down to numbers. Clients need support. They need to feel safe through the process and they need to feel that they’re getting the education that they need.”

Then, in 2008, change was in the air for Dhingra.

She purchased her first property, which was a pre-construction, and she had met someone special.

Fast forward to 2010, Dhingra closed on the property, and she got married.

Ever the analytical thinker, Dhingra “began to calculate the return on her investment, which was surprising. You know, we go to work and we save, but then life gets in the way. There’s an unexpected expense. However, taking the five percent investment paid off significantly. And then, marriage follows, and I receive a little bit of a miracle: my daughter. She came unexpectedly and as a preemie. Within 6 months, my life changes, significantly.”

In fact, Dhingra explains, “the plan was to have my daughter and go back to work in six weeks. That didn’t happen. My entire life, I’d been searching for a place where I belonged, where I’d have this sense of accomplishment and contentment. After having my daughter, I had that moment of contentment, and it was shocking. I was at peace. I had everything I had ever wanted. Six weeks turned into three months; three months turned into six months. However, I worked for a U.S. bank so the mentality generally was you should be back. So, I did attempt to go back for a short period of time. But there was a moment when I went back into work mode, and she was sick. I needed to ask permission to leave. It was more about etiquette to advise your supervisor. At that moment, I decided never again. My daughter was my number one priority, and I was going to go back and be with her at home for the first few years. And, I took pride in deciding to stay at home with her.”

A few years later, Dhingra was ready to start exploring what was next for her. “Coming from a finance background, I realized I wanted to shift my focus. We had built some equity in the property at that point, and my focus turned to creating a wealth-building strategy to give my daughter everything she could want in life. I took the equity from my first home and purchased our first investment, which would become her university fund. Then, I’d refinance every few years to pay down my owner-occupied home, and within 8 years I was able to accomplish that.”

Over the years, she and her husband built a robust real estate portfolio.

Enter Mortgage Savvy.

Dhingra shares that “when I started Mortgage Savvy in 2015, the plan was to do this for myself. To understand lending guidelines. I’m the type of person that needs to be in the driver’s seat. I’m an analytical thinker. Give me a goal, and I’ll build out a strategy to achieve it. But I wanted to help others do the same. I was going to build a brokerage that would help professionals. And so, I’ll often say, we’re not mortgage brokers, we’re wealth builders. The plan was to do this for one other family a month, and I kept it to that model for a while and held clients accountable to the plan we built. This created advocacy for me. I didn’t market. And then, Mortgage Savvy took on a life of its own.”

Like many things in life, Dhingra laughs that she “often says, I don’t know how this happened or if there were angels above, but it just naturally grew.”

With that said, Dhingra highlights that change is an inevitable part of your journey, whether it’s life or business: “I think we all go on this journey of self-exploration. Everything we do feels so permanent, but you have the ability to change your mind at any time, no decision is permanent, and that’s something we need to say out loud a little more.”

Are You An Entrepreneur Who Is Going Through A Tough Time Or Is Seeking To Grow Or Revive Your Business? Dhingra Has Some Advice For You!

In life, unless you know some secret I don’t (in which case, please share), there will likely be ups and downs. The same holds true for your business. In Dhingra’s case, after Nicole Farrugia, Director of Operations and Mortgage Agent, joined the team in 2019, things should have been smooth sailing.

But then, like that uninvited guest that just doesn’t know when to go home, 2020 hit and a wee pandemic ensued (no big deal).

Amid rapid changes and lockdowns, Dhingra was also dealing with separating from her husband. This was particularly difficult for Dhingra as she’d “met him when I was eight. I’d been with him since I was 16, so he was an extension of me, and now I was solely on my own. But we needed to grow separately. I was left solely raising my daughter on my own at that point. There were a lot of changes, and although I am an adult, I had to grow up very quickly.”

Despite the challenges her separation brought about, Dhingra saw it as a blessing. She describes that “when you’re unhappy and unsettled, you hide from the world. And so, although I was going through my challenges, I was forced to change and grow. I choose to do that on social media.”

And people took notice, sending her encouraging messages highlighting that “they were seeing something shine through in me that they hadn’t seen in a while. And that was my growth. I was rediscovering who I was. Now, when something goes wrong, I look at it as an opportunity because if I hadn’t gone through what I had I wouldn’t be where I am today. It gave me strength.”

That said, when challenges arise, Dhingra shares some important tips on how to help yourself navigate turbulent times or if you’re seeking to make a change for your business:

1. “You’ve got to be able to pivot. Being an entrepreneur means that you’re always kept on your toes and you can look at that as being scary or as an opportunity and just get ready to dance.
2. Chaos means growth. When we feel things are chaotic that’s when we grow. Welcome it. Allow for it to come in. Let it sit with you and let it help you develop a strategy to move forward.
3. Stay true to who you are and what you stand for. As you deviate from that, that’s when you start to lose yourself and your path. But, at the end of the day, when you’re building a business, it is generally a reflection of who you are, so it’s important to stay grounded in that.
4. Surround yourself with the right people. Take the time to hire people who are better than you. As entrepreneurs, we can feel threatened in this instance, but sometimes you just have to arm yourself with people who are better than you. Identify what you’re good at, and then bring on people who are going to complement and fill those gaps.”

Canadian Mortgage Professional: Women of Influence 2022

Each year the CMP compiles a list of influential women who “have not only navigated the turbulence of the last few years – they have thrived and demonstrated exceptional leadership, resilience, and drive.” According to CMP, candidates are selected by their peers for their “achievements and initiatives over the past 12 months…including professional accomplishments and contributions to the industry, as well as their commitment to diversity and inclusion in the workplace.”

Mortgage Savvy’s very own Rakhee Dhingra was named Women of Influence in 2022.

That said, this isn’t Dhingra’s first time being recognized by CMP. In 2018, Dhingra’s team got put on the map as they were a “very small brokerage, but they were doing very mighty numbers. That led to an interview, where we got to share a little about who we are. From then, I became keen on participating in opportunities where we could help. This is where I think there’s a gap. We, as female entrepreneurs, when we get something great, feel like we need to hold our secrets, but I think this is where we need to share. More people started reaching out and I was happy to talk with them. In turn, that provided us opportunities to coach and support.”

Ultimately, this is what CMP aims to recognize – women doing big things, but also helping to empower those around them to do their best as well.

And so, while it’s not shocking that CMP recognized Dhingra again in 2022, given the incredible work she and her team do, ‘congratulations’ are in order, nonetheless!

What’s Next For You?

Can you believe it’s almost 2023? Where has the time gone?

But, before this train gets off the tracks, I’ll get back on topic!

In the year to come, Dhingra and her team will continue to offer Mortgage Savvy clients “solutions, education, and support. With the shifts in the market, the reality is, this is where your relationship with your broker is worth a lot more than the transaction. This is where clients are seeing the value in connecting with a partner like Mortgage Savvy as we’re here to coach, support, put monthly budgets together, and help you identify what you’re comfortable carrying.”

Outside of Mortgage Savvy, Dhingra will be unveiling a project that she describes as being an extension of herself. Dhingra explains that she will be “launching a club called The ShiftTO. I am excited to launch in 2023. It’s going to elevate and give back to the industry by providing a new way of transaction and connecting.”

Sign. Me. Up.

I know I’m not alone when I say, I look forward to seeing what great things lie ahead for Dhingra!