Here are 5 business growth principles that all Mortgage Professionals need to embrace IF the goal is to move beyond closing just a handful of deals each month…
Know your numbers. If you don’t track your numbers (i.e. Leads, Closings, Marketing R.O.I, business expenses, relationship-building costs, etc.), you’re likely spending time on low pay-off activities, wasting time with the wrong people, throwing money at fruitless projects and spinning your wheels in a lot of busy-busy work. Knowing your numbers is part of the rule of working smarter, not harder.
Develop your perfect loan process. Not only will this include the steps that help to see a loan through to closing, but also all of the database management, marketing and customer service “WOW” tasks that will help you to work more efficiently and to create leads and opportunities with each loan that rolls through your pipeline. In addition, this will create a seamless experience for every borrower and Agent throughout the process and after the close, increasing your survey rankings, as well as, separating you from your competition.
Plan out your week ahead of time. Taking 20min every Sunday morning or evening to organize files, clean up your email, develop your to-do list, take a peek at your goals and/or business plan and enter time-blocks into your calendar for purposeful, sales/lead-generating type activities will increase your focus and effectiveness 10-fold!
Develop an annual business plan. As a Mortgage Professional, you are the captain of your own ship and it either sinks or sails depending on YOU. A business plan is like a treasure map, if you don’t have one, how do you ever expect to arrive at your desired destination and reap all the rewards?
Find a mentor/hire a Coach. Most Mortgage Professionals find that they feel isolated at times, like a man or woman all alone on an island. They lack partnership, collaboration, accountability and access to alternate perspectives. No one person has all of the experience and all of the answers. Partnering with someone you trust and respect, and who has more experience and knowledge regarding the aspects of your business that you find most challenging, will catapult you over your hurdles and past your road blocks, MUCH faster (and with a lot less agony) than going at it alone.