Quick question about those mortgage brokers who write more than $100 million per year – what’s the one big thing they’re not doing?
The answer is they’re not working harder than you.
It’s true. They’re not making more money because they’re working more hours. Rather, their success comes from their ability to leverage their time.
If there’s anyone who should appreciate the power of leverage, it’s a broker. After all, you help clients build wealth through financial leverage. So why not grow your business – and build wealth for yourself – through time leverage?
The more time you’re able to save, the more work you’ll do and the more money you’ll make.
Offload low-value tasks so you can do more high-value tasks
The key to saving time is to stop focusing on the job part of your business (i.e. writing loans) and start focusing on the business part of your business (i.e scaling).
To do that, you need to build a team to which you can assign most of your work. The sort of tasks you should be delegating or outsourcing include:
- Processing loans
- Liaising with lenders
- Communicating with active clients
- Communicating with other professionals (e.g. conveyancers and buyer’s agents)
- Creating and publishing email, blog and social media content
- Following up with old clients
- Booking appointments
- Doing general admin
That will then free you up to do the highest-value tasks, including:
- Meeting clients
- Meeting referral partners
(If you met more clients and more referral partners, would you make more money? Obviously.)
You’ll also have more time for other vital tasks, such as:
- Recruiting staff / outsourcing partners
- Managing your team
- Doing strategic planning
Automate, automate, automate
Another way to claw back time is to invest in labour-saving technology.
The more you can automate the way you manage appointments, analyse clients’ financial documents, fill out paperwork, communicate with stakeholders and market your business, the less grunt work you’ll have to do.
Create systems and document them
You know how the more times you do something, the faster you get at it?
Well, that’s why you want to make your work day as repetitive as possible (in a good way).
Any time you find yourself doing a task multiple times, you should create a system for that task, so it can be done that way again and again, forever. You should also document that system, so it can be done by anyone – you, your team and whoever replaces those team members when they eventually leave.
Auctus Coaching can show you how to save more time and make more money. Book your discovery call with Christian Paterson today or fill in this online form for more information.
