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Missing Infrastructure
Webster defines infrastructure as the sources, like personnel, buildings or equipment, necessary for an activity. What do you define as infrastructure in your business? Many loan officers would say their infrastructure includes an office, telephone, vehicle and computer - each one being tangible.
So if you have infrastructure and you're still not achieving the results you want, what's missing? It's your infrastructure that's intangible, called "experience."
When you were a toddler you learned to walk by holding onto furniture and taking a lot of false steps that resulted in some falls. Gradually, you learned how to keep your balance, and before long you were off and running.
You could use the same model for growing your business. You can spend the time and effort trying a variety of strategies. If they succeed, great; if the strategies fail, you simply spend more time and effort to realign your strategies until you find a balance.
Imagine how quickly you would become successful if you cut out the trial and error. You can do that simply by establishing a better infrastructure - one that includes experience. One that revolves around mentors, coaches and other successful loan officer - referred to as a network.
Why Networking Works
Maybe you already belong to a networking group. But chances are your networking group is a collection of professionals throughout a variety of professions. This is a great group for building your database and meeting new contacts. It's not necessarily a great resource for learning the specifics of how to build a successful business.
Instead, having a network of industry professionals can be incredibly beneficial:
- Good coaching and productive discussions about your business helps you learn how to leverage your network to produce more leads effectively.
- When you discuss your work with others, you take advantage of their experiences. You learn from their successes and mistakes without repeating the same errors.
Building a Network
Reach out to mentors and peers that are not in direct competition. When you are competing with your network it's too easy to subconsciously hold back because of fear of enhancing someone else's business. If you know other loan officers, perhaps someone that is working in a different geographic area, you are far more likely to have productive discussions.
Find a mentor with a track record. Just because someone says they can be your mentor, doesn't mean they truly enjoyed great success. Ask questions like:
- What is their niche?
- How much do they work?
- What is their level of production?
- Who have they helped before?
- How much did that person's business improve?
Don't be afraid to ask questions, consider it a potential interview, for someone that can substantially affect your success. And if you don't know a mentor, consider professional coaching. By paying a coach who can help you achieve your plan for 2007, you'll be accountable, whereas, a mentor is someone volunteering their time and accountability isn't the same.
Overall, be sure to add experience to your infrastructure in 2007 so you don't repeat the same mistakes and re-live the definition of insanity.
Kick Off the New Year Right - Join My 8 Week Coaching Program
Why do more people fail in the mortgage business? It's not because loan officers don't plan to fail, it's because they fail to plan.
Planning is your key to becoming more successful, but it requires accountability. And for many of us, it's the very reason we get a coach - so we can be held accountable to do the things we know we should do, but don't.
2007 can be your best year ever. Don't miss your chance!
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New! Mail-it-Yourself
Postcard Templates
If you're not in-touch, you're out of touch...and that's costing you precious referrals and leads to give real estate agents.
Marketing your database is as important as ever, and now with our postcard templates you can easily stay in touch to produce more referrals.
You can add your personal information and print the templates right from your desktop printer. Each postcard includes a free report to offer your readers so you generate leads.
Learn more here:
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Compelling Client Story
"As a Marketing Coordinator for an established loan officer, my focus is solely on business promotion. Therefore, I needed truly atypical ideas to light a fire in a business that sees cycles of darkness.
The Become an Agent Magnet program has what I like to call "Meaningful Momentum." It encourages you to move past "the block" and into a position that effectively integrates creativity and production.
I especially appreciate the accessibility of Jeff Nelson and his team. Even before I purchased the program, they were open to discuss my marketing conflicts. That communication continues today, as I have had several discussions with Jeff about my professional progress.
There is an essence of humanity to their business as they create real solutions to today's toughest marketing scenarios.
Simply put, the Become an Agent Magnet program successfully outlines a personalized approach to gaining an agents attention."
Allison Hanken
First Horizon Home Loans
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