What do you do when the business models that brought you success are no longer the best road map in a new environment? Robert Grosser, president of Luxury Mortgage Corporation, a private company that provides a wide-range of mortgage products and services for homeowners, has been building businesses since college. He seeded the funding for a store for his parents from the proceeds of his college t-shirt sales. In 1984 he launched a one-man shop called Ready Funding which he grew into Cityscape (the company that he took public in 1994).
After a short time away from business in the late ‘90s, Grosser returned to entrepreneurship with renewed vigor to helm Home Star Direct. That company merged with Luxury Mortgage in 2009, with Grosser presiding.
Through market expansions and contractions, including two different mortgage crisis, Grosser succeeded by remaining credible and accountable to his clients. “Plans change, so it’s very important to communicate whys, hows, risks and the rewards in a consistent manner,” he asserts. Continuous change and risk-taking are part of the entrepreneurial life, but he cautions: “You have to know the ramifications of the risk that you’re taking in order to properly say you’re a risk taker.”
He talks to us about the entrepreneurial values that he upholds at all times, as well as the family history that serves as backdrop to his early interest in commerce. Grosser finds inspiration in that history. He describes the lessons he learned watching his grandfather’s wholesale wicker-and-rattan business in Brooklyn; and of the retail store he helped open for his parents. How does your family history of business shape your approach to risk? Download this podcast right here for more of Grosser’s experiences.