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Business planning remains a low priority for most brokers with well over half the industry without a formal plan set for the year ahead.
According to the latest Mortgage Business’ latest straw poll, 61.1 per cent of brokers are yet to give serious thought to their business plan for the new year.
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Only 23.8 per cent have a plan that is ready to implement while 15.1 per cent said their plan was nearing completion.
Mike Green from Verde Finance is one brokers yet to complete a business plan.
While Mr Green told Mortgage Business he understood the benefits of having a business plan in place, he conceded that finding the time to create it was always an obstacle.
“I haven’t completed my plan yet because I have been so incredibly busy these last few months. When I can get my head above water again and I have a free minute to sit down and draw up my goals for next year, I will write my plan then,” Mr Green said.
“I do generally like to have a business plan in place because it helps to keep me focused and allows me to define realistic goals. That said, my plan is never strictly black and white. I like to have a fair amount of flexibility so that if something happens, I can massage my plan to suit my needs.”
Aussie senior mortgage advisor Peter Clune said he was just starting to get on top of his business plan now.
“I guess I have been fairly lazy up until now by not having one in place. I generally wait for the phone to ring and in my 10 year career as a mortgage broker that plan has usually worked for me,” Mr Clune told Mortgage Business.
“This year, I am stepping outside of my comfort zone. I am making a concerted effort to draw up a business plan and stick to it, including making those 10 extra calls a day.”
