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ISCOVER
Last month I spoke about understanding the numbers in your business which will assist in determining your activities and help formulate some goals/targets beyond income to be earned.
This month I want to discuss the activities required to achieve your targets, the mantra should be focus on the sales generating activities.
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When I sit down with some brokers who are smaller operators the common feedback is “I spend so much time processing loan applications”.
This can be dangerous as you are then not looking for the next sale and can be a reason why some brokers experience high volume months and then low or no volume months, obtaining consistency is the key.
Time management or diary management is vital to make sure you are doing all the activities required to have a successful business.
Think about all the various parties you need to meet with, from referrers, to customers, bank and aggregator BDMs. Now think about how much of the process is now reliant upon you, along with all the compliance requirements, this is time consuming.
To your diary, what are the sales generating activities? The two that come to mind first are referrer appointments and client visits. One generates leads and the other loan applications and settlements. When looking at your diary these are the two items that should take priority.
The rest of your diary can be built around these appointments, along with personal time (whether to attend the school play, parent teacher night or a gym session). Each morning you may book in time to review all files and check progress. Every afternoon may be your processing time, inputting new deals or following up outstanding documents etc.
The other important piece with diary management is forward planning.
One of the tools I used to work with my BDMs (as a lender state manager) was booking the next appointment when finishing up the current appointment. That way you don’t start the next week wondering what you will be doing.
Whilst this all seems relatively simple, these days it is very easy to be distracted by emails, phone calls, processing deals and losing sight of why you are in business.
