With lending policy changes and the royal commission, how do you cut through the noise and grow your business?
Director of Hunter Galloway, Nathan Vecchio, started broking in 2015. Using the techniques from Joshua Vecchio's Top Broker Handbook, he’s been writing big numbers, leading to Vow Financial naming him Broker Partner of the Year Rising Star in 2016.
Between the royal commission, daily changes to lending policies, and negative sentiment in the market, it’s fair to feel like it’s a tough time for brokers.
But on the other hand, why is it that Top Brokers don’t seem to be phased by the royal commission? Their businesses have been growing even with the lending changes.
How do Top Brokers stay motivated through all of this noise?
Today we are going through the top five techniques you can use to stay motivated regardless of what the world throws your way!
Step 1 – Snap out of it
As Tony Robbins says, you need to realise that you are in control. Your attitude isn’t controlled by external factors like the royal commission or policy changes.
These external factors cannot make us feel something; it is what we tell ourselves that create our feelings. So many brokers place blame on external factors because it’s easy to do, but the truth is that your business is entirely in your own control.
There is no point in obsessing about the royal commission or complaining about banks changing their policies – take control! Each day spend time to become a better broker than you were yesterday…
How? Listen to podcasts daily, keep on top of changes in the industry and read every spare minute you’ve got. And if you find it difficult to keep up or you have fallen into the ‘busy broker trap’, read the rest of this.
Step 2 – Understand your ‘why’
Often it is not so much the ‘what’ or the ‘how’ that matters, it’s the purpose behind why you are a broker that really matters. Being clear about why you’re working can help create a vision to stay on course.
What is the one thing that you truly desire? Or what about the one thing that makes you excited about work? Is it spending more time with your family, making money to do charity work or making money for yourself? What about taking time off, working less, travelling more or maybe retiring earlier?
Think big and define your why. Where there is no vision, there is no hope – George Washington.
Then grab this vision and put it somewhere you can see it every day. When you need a reminder about why you’re putting in the hard yards or feel like you’re overcome by client follow-ups, having this will keep you on track.
Step 3 – Setting your goals
If you aren’t getting the results you want as a broker, it is probably because your goals are not clearly defined enough. Having specific, measurable, achievable, realistic and timely (SMART) goals will help you gain perspective towards how hard you need to be working towards achieving your goals.
Much like having a clear ‘why’, your goals are just as important. Use your ‘why’ as a higher level approach and a personal reminder, then use your goals to break down and achieve this, creating daily, monthly, yearly milestones.
So what is your goal? Do you wish you settled more loans? Then what are you doing every day to work towards this?
Defining goals puts your ideas into action mode and brings your ‘why’ to life. Without goals, and plans to reach them, you are like a ship that has set sail with no destination. A goal without a plan is just a wish, so write down your goals and put them into action, daily.
Step 4 – Putting together your plan
Use our 90-day plan to set your goals over the next three months and keep yourself on track. Setting goals is the first step in turning the invisible into the visible – Tony Robbins
Go into as much detail as possible when creating your plan, so you have a clear timeframe and you know each week how much time you’re allocating to achieving your goal. Having a clear breakdown is really important so that you can start to understand if the amount of time you’re dedicating each week towards it is enough.
Step 5 – Taking daily action
One of my favourite quotes is from Wayne Gretzky, who said: ‘You miss 100% of the shots you don’t take’.
Once you have set your 90-day plan, you need to break it down into daily actions. This is what will ultimately make you a better broker than you were yesterday.
The 90-day plan is an incredible tool to give direction and clarity, but without action and completing the activities on it each and every day it will be useless!
Are you going to take daily action or make daily excuses? What do you think? Are you going to be a better broker tomorrow than the broker you are today?
What step do you think is the most useful? Setting goals or just simple daily actions?
This has been republished with permission from Top Broker. Top Broker's vision is to rally mortgage brokers from across Australia to share the industry's best practices to help brokers maximise client value, reduce their working hours and increase their overall settlements and profitability. Check out more at: https://www.topbroker.com.au.