Taking Stock of the New YearEach year we begin a fresh start. Many of us make a few half-hearted New Year's resolutions. Usually we manage to break most of them by January 2nd. This year, instead of looking at big life changes through resolutions, I encourage you to start off with a new resolve towards your business.
The New Year is the perfect time to take some time to set a strategic plan in place. A plan that builds on your previous success and brings in more business, creates a strong database, and develops relationship referrals.
To succeed as a loan officer, you need to develop a mentality of a business owner - a person that is responsible for business success or failure. A successful business is the result of careful strategic planning: for the current year and the future.
Today's article focuses on how to create worthwhile goals.
Print this article and discuss at your next sales meeting. Use it to brainstorm ideas. |
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Planning For....
Your first step is to decide which goals to develop. Most people are going to say, "That's easy. How much do I want to produce this year?" That's an essential starting point.
But your goal planning should also take into consideration some additional factors. This is a perfect time to take a long, hard look at your business practice and make decisions about what needs to be changed or improved.
Ask yourself some questions to determine your goal areas:
- Are there parts of your business that aren't working or irritate you? What are the top three things you'd like to change in your business over the next year? Are these things that are within your power to change?
- What parts of your business are working well? Is there room for improvement? Consider your database - do you need to work on expanding it? What about your marketing plans, your materials, or your referrals? Do you need to refine your communication process with clients, improve your closing times, change how you follow up once the loan has closed, etc.
- What tools do you need to improve to be more effective? Do you need any technology changes, changes to your support services, etc?
- What changes do you need to make personally to be more effective? Do you need to change your schedule, take a public speaking class to be more comfortable, join a different networking group, become more active in the community, etc.
Defining Your Goals
Once you've identified some of the key areas you'd like to address in your goal planning, it's time to begin building those goals.
Here are the basics of goal management:
Goals are only meaningful if written down. You can't track or measure goals when they are merely in your head. To be accountable, you have to have your goals written down on paper.
Your goals must contain three elements:
- They must include an objective of what you want to achieve. This objective must be both specific and measurable. There is a huge difference between a goal of "increase my database" and "add 50 contacts to my database by April 30th." The latter is specific (includes a quantity that can be measured) and timely - has to
happen by April 30th.
- The goal must include the activities you will accomplish to achieve it. For instance, "add 50 contacts to my database through e-newsletter subscriptions from website by April 30th". This goal has a plan forming that will guide it and accounts for the tools (website subscriptions) necessary to achieve it.
- A goal must be reviewed for success. In the goal established above, there are two criteria for measuring success - the number of contacts and the timeframe. As you near the deadline, or even at a midpoint, you can evaluate the goal for success. You have an opportunity to refine it or develop new tools to help you reach it.
Developing goals for your business is more than simply a "nice to do" activity. A well thought out plan is a road map for success. You wouldn't take a lengthy car trip without consulting a map to make sure you are headed in the right direction. Why should your business be any different?
This is the perfect time to make a New Year's Resolution for a successful business year: a year that includes new goals, new tools, and most importantly, a new direction that makes success inevitable. Mortgage Marketing Plans - Return to Archive |
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.
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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."
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Portland, OR
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