What mortgage brokers can learn from McDonald’s

by | May 31, 2022

What’s the first thing that comes to mind when you hear “McDonald’s”? Golden arches, french fries, a Big Mac? As one of the world’s most recognisable brands, there’s plenty for you to work with.

But how did McDonald’s grow from a single Californian restaurant into the global behemoth it is today, with more than 38,000 restaurants in over 100 countries?

The short answer? Processes.

It might be one of the largest restaurant chains in the world, but a Big Mac tastes the same whether you order it in Sydney, Jakarta or Johannesburg.

That’s because Ray Kroc, the genius behind McDonald’s success, built a restaurant system that can provide food of a consistent quality, regardless of location, thanks to its uniform preparation.

Every menu item has a defined process spelling out exactly what goes into it and in what order, before it’s cooked at a defined temperature, for a defined amount of time.

As a result, every restaurant serves the same food, in the same manner, so every customer has the same experience.

And it’s these clearly defined processes that helped McDonald’s grow without Kroc’s direct oversight.

Why are business processes so important?

Processes aren’t just applicable to fast food businesses. In fact, Henry Ford relied on the same principles so that a new Model T could roll off his assembly line every three minutes.

Processes are also perfectly suited to mortgage brokers. They’ll help you develop consistency in your business, so everything runs like a well-oiled machine. They also eliminate inefficiencies, so your business becomes more productive and can continue to grow and scale.

Take task delegation, something many mortgage brokers struggle with. After all, if you want something done right, do it yourself … right?

Actually, no – if you have clearly documented processes in place, you don’t have to do everything single-handedly. This can free up your time to focus on what really matters: building your business.

Then there’s automation.

If tasks are sequenced in processes that are simple, logical and repeatable, they can be automated. That saves you time, energy and hassle while reducing the risk of human error. Brilliant.

What mortgage brokers need to know about business processes

Not every part of your business needs to be systemised. In fact, inefficient and badly-designed processes can actually harm your mortgage broking business. That’s why it’s important to:

  • Create systems where they add value – for example, by simplifying a task, speeding up a process, or improving quality
  • Keep it simple – so everyone understands the systems in place as well as you do
  • Document your processes – so everyone can successfully navigate their way through the task without your involvement

Finally, remember that any customer complaints are a veritable gold mine, as they can help you identify business areas for improvement and systemisation.

Want to be a more successful broker? Auctus Coaching will work with you to build the profitable, efficient, scalable business you’ve always dreamed of. Book your discovery call with Christian Paterson today or fill in this online form for more information.

Christian Paterson, Auctus Coaching

Christian Paterson

Director, Head Coach

I love nothing more than helping hardworking brokers to work smarter and enjoy their business while growing an incredibly profitable and efficient operation.