A new program for brokers looking to continue business coaching and networking after their required two years of mentoring is to be launched next year.
In an interview with The Adviser, broker and mentor Nancy Youssef has revealed that the Classic Finance Group (comprising brokerage Classic Finance and mentoring company Classic Mentoring) will launch a new program in early 2019 to help brokers continue their business development.
Revealing that the business coaching framework, Classic LINK, had been “brewing in the background” for the past two years, Ms Youssef said that the group will launch the new project in February 2019 to help “fill a void” in the market.
Ms Youssef told The Adviser: “Many of Classic Mentoring’s mentees, as well as people outside of the mentoring program, have requested additional support after their two-year mentoring program has concluded.
“Our mentees have asked us about how they can stay part of the community and have access to support around running a broker business, rather than the practical side of broking. Because, even though they have finished their two years of required mentoring, there may still be things that come up that they need help with.”
Ms Youssef elaborated that this could include how to interview and hire staff, how to develop support staff, building personal brands and marketing support.
Built off the back of responses to surveys to Classic Mentoring graduates, the 12-month framework aims to help address the common challenges that brokers face in their third or fourth year of business, but it is open to more established brokers, too (subject to interview).
Classic LINK (which stands for Learning, Interacting, Networking and Knowledge) will work on a monthly subscription basis and will initially be on offer to NSW-based brokers from February 2019.
Speaking of the name, Ms Youssef continued: “I think for a broker or a business owner, learning is always a good thing. It doesn’t matter how long you’ve been in business. I think a good business owner always needs to invest in their professional development.
“Secondly, interacting is really important. We’re bringing a lot of people in our network and industry at a more senior level together and getting them to interact with like-minded business owners.
“Thirdly, networking is like oxygen; business can’t grow without networking. And, finally, acquiring new knowledge is really important because you are constantly looking at ways to innovate and grow.”
The Classic Finance Group founder continued: “I’m trying to fill a void. There are already specialists in the market specialising in one particular area of business coaching (for example, marketing), but what we’ve done is bring together a range of different pieces and map them all into one program.”
Classic LINK will include online modules but will largely comprise “practical” face-to-face training (workshops and individual one-on-one sessions), phone and email communications, an online community as well as masterclasses and events.
“This won’t be taking away from our core focus, which is helping new entrants, but it’s another value-add that we want to roll out to those who want to stay part of the community and gradually try to assist the greater market as time goes on.
“We’re always innovating, we’re always creating new resources and tools in that space, and I think, based on the [financial services] royal commission and where we’re heading as an industry, I think education is going to remain crucial to our industry and people who are wanting to keep growing.”
Ms Youssef said that the Classic LINK program would look to start with a focus on the finance and broking industry but could be extended out to other sectors in the future.
[Related: Why this broker took the leap into mentoring]
Annie Kane is the editor of The Adviser, Australia’s leading magazine for mortgage brokers.
As well as writing news and features on the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker podcast and In Focus podcasts and The Adviser Live webcasts.
Before joining Momentum Media in 2016, Annie wrote for a range of business and consumer titles, including The Guardian (Australia), BBC Music Magazine, Elle (Australia), BBC Countryfile, BBC Homes & Antiques, and Resource magazine.
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