Brokers set to become market innovators

The former criminal lawyer became a stand-up comic in the nineties before turning his attention to radio and then television with The New Inventors. Over the years he's had the opportunity to work with some of the biggest innovators in Australian business.

“Over the last five years I’ve worked with businesses about the practical things that people can do to be more innovative,” Mr O’Loghlin told The Adviser. “How they can step back from what they do on a daily basis and see it through fresh eyes.”

He says one of the most important things all businesses must do if they want to foster new ideas is create a culture of innovation in an organisation.

“Plenty of people are talking about innovation but nobody is really explaining on a practical level how to do it.”

Mr O’Loghlin’s session at the Better Business Summit will reveal simple, practical things that brokers can build into their day to help them deal with the rapid pace of change.

“Mortgage brokers are in a very vulnerable position. They can can no longer assume that when people want a mortgage they will always go to a mortgage broker.

“They need to find ways of making the broking experience better for the customer,” he said, noting that brokers face the threat of digital disruption with the emergence of new online players.

“What we have seen in recent years is that customers have chosen online channels.

“The difference between me and a futurist, for example, is a futurist will tell you five things that are going to play out and explain how you should prepare for them.”

Mr O’Loghlin will tell brokers how they can leverage data for better customer outcomes and put practical systems in place to integrate innovation into their everyday processes.

“Innovation shouldn’t be the icing on the cake. It should be an ongoing part of everyday business,” he said. “To find a good idea that is going to improve your business, you usually have to get access to 10 or 10 ideas.”

Importantly, Mr O’Loghlin says innovation must be encouraged among all employees throughout an organisation.

“It’s naïve for management to think that the only people who can have ideas are at the top level,” he said.

“Smart organisations realise that good ideas can come from anywhere.”

Now in its fourth consecutive year, the award-winning Better Business Summit runs across five cities over February and March, and features a jam-packed agenda crammed with practical tips, tools and strategies to help all brokers grow their business.

The day will culminate in the Better Business Awards, where each state’s best brokers, aggregator BDMs, lender BDMs, loan administrators and those running community engagement programs will be honoured. A list of finalists for the awards is out now.

With limited tickets remaining in each state, book your seat now to make sure you don’t miss out.

[Related: Better Business Summit 2017 agenda revealed]