Journelism

The Real Core Values: Ross Niskar Shares Life Lessons from Business Success and Personal Tragedy

Hired straight out of college by an advertising agency, Ross Niskar had the potential for a steady if unsatisfying career. Facing limiting career prospects, he jumped from advertising to mortgage representation. The division flourished into a countrywide moneymaker and just as it prepared to go public, Ross’ brother suffered a terrible diving accident, leaving him quadriplegic. Ross speaks about valuable lessons learned and events that can change the way one looks at life.

Ross attributes his business success to the support of his hometown, Southfield, Michigan. He fondly recalls the diverse, friendly atmosphere and maintains contact with many of his old friends. The close-knit community gave him the confidence to take his career to higher levels. A Michigan State alumnus, Ross—like most graduates—was nervous about transitioning into the real world. He had little to worry; with a degree in communications and advertising, he received a position at Young and Rubicam, a full-service advertising and public relations firm straight out of college.

Although trained in advertising, Ross found little opportunity for growth within the field. He became tired of receiving the same paycheck every month and yearned for a challenge. He made the transition from steady advertising work to a commission-based mortgage agency where he’d have to work far harder. He scraped by initially, but knew it would pay off. “I still had the confidence to just jump in there and knew that if I ate a little less, not buy some things here or there, I’d work hard and make up for that.” Ross joined Rock Financial (now Quicken Loans); working with two partners, he created a subprime division of the company that lent money to people with credit problems. They ensured that all applicants originally denied would receive a loan. His division assessed clients’ financial situations and helped with debt consolidation. Business was booming; each employee at Rock Financial denied hundreds of applications based on credit, and happily handed them along to Ross and his team. Although clients had to pay higher rates, the loans allowed them to get on their feet and refinance once their other debts were in order. Their business was so beneficial and successful that it quickly grew from a three-man operation to 28 branches. The division, Boulder Financial, became Rock’s largest source of revenue, taking the company to a far grander scale.

Looking back, Ross takes great pride that when creating Boulder they grew to over 400 team members that primarily started through word of mouth promotion through friends and family. Ross states, “We had created a culture as opposed to just a workplace, people believed in us and our goals.” Many of the Boulder Financial employees who, at the time were hard working team members at low paying jobs have since gone on to become very successful in business.

Despite rapid growth, Dan Gilbert, Rock Financial’s founder, looked to expand the business by consolidation and utilizing the Internet. In the short span of a year, he deconstructed the company, including Boulder Financial, from 28 national branches to one large call center and four retail branches. Ross admired Gilbert for his bold actions and vision to foresee the dramatic change in the mortgage industry with the proliferation of the Internet.

Tragedy struck Ross’ family during this time; his brother broke his spine while diving into shallow water, becoming a quadriplegic and needing constant care from loved ones. He was sent to a rehabilitation center in Denver, where Ross flew out to spend three months helping and supporting him. Within 30 days after his brother’s accident, Ross assembled a dedicated fund-raising team of friends and family in short order.  The result of this heroic effort… 900 attendees and $100,000 to cover his brother’s medical expenses. Such a feat is only possible with a great network of friends, family and business associates. Ross affirms, “Years of treating people the ‘right way’ and having solid core values paid off as everyone in our lives rallied together to help my family.” Ross has organized nine successful fundraising events since the original gala.

The accident brought life into perspective for Ross; he wanted flexibility and invested in a collection agency. He recognized hidden potential, but that it needed someone to manage daily activity. With a fellow business partner, they took management control of Boulder Credit Services, using their previous experiences and skills to create sustained success.

As a partner, Ross purchases debt portfolios and manages a third-party collection agency. He maintains the contacts he’s made over the years to host an annual charity event to raise money for his brother’s medical expenses. His brother, who works as a sales director at Quicken Loans, inspires others by example, setting high standards for himself and expecting others to follow. His team is consistently one of the company’s top-five earners. Learning from this, Ross advises fellow business leaders to create their own values. “Not only creating core values, but living them on a day-to-day basis is definitely a key to the way I’ve done business. I don’t ask anyone to do anything I haven’t done.” He leads by example, whether it’s doing small tasks like answering phones or making large business decisions, and expects others to pay careful attention as well, preferring to surround himself with detail-oriented people.

Ross well realizes that grand visions are essential and motivating, but that following through on small details is what separates mediocrity from success. His experience is meaningful testament to the entrepreneurial spirit that never loses sight of family and reality.