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Gain insights directly from high-performance brokers such as Founder of Broker Essentials Jason Back and Senior Credit Adviser at Shore Financial Christian Stevens.
Are you looking to build a sustainable, profitable business? Would you like to transition from ‘working in your business’ to becoming a business builder? We’ve created the Better Broker’s Guide to High Performance Broking for you.
To become a high-performance broker, you need to focus on yourself as an individual, the business as a separate entity, your systems and processes, and the customer experience you ultimately deliver.
In our guide, we explore actionable insights directly from industry experts and leading brokers such as Founder of Broker Essentials Jason Back, Senior Credit Adviser at Shore Financial Christian Stevens, Founder of Front Row Financial Management Brendan Turnbull, and Finance Broker Manager at CFC Finance Kyle Manson. Here are 10 tips to help you on your journey:
- Pipeline Management – How many new customers are coming into your business? Where are you finding not just your next customers? Who are your referral sources? Are you planning for more staff to cope with a growing client book?
- DPH (dollar per hour) – You need to understand the value of your time and focus on the activities that generate revenue for your business. As a business owner, if you're doing a task that makes you $25 an hour, do you really need to be doing it? Or could you pay someone $25 an hour so you can work on tasks that generate $1,000 an hour?
- Opening night principle – Broadway shows might run for 300 nights, but every show is the first for someone. If you're delivering the show, you need to make sure everyone gets the same performance on the one night they go. The same applies in business. If you saw 30 customers this month, did they all get your opening night performance? Or did 10 get your best and the other 20 receive poor service because you were too busy or your staff weren't following the procedures?
- Know your strengths and weaknesses – Understand where you need help. If you aren’t good at marketing, don’t spend all your time trying to design pitches and presentations for your customers. Let someone else do that work.
- No substitute for hard work – Growing broker businesses are always hustling. There are no shortcuts. Success is the result of hard work.
Download our guide and change your business trajectory
If you’d like more tips, advice and stories from other high-performance brokers, download book one of our guide to becoming a high-performance broker.
- Understand the 50-300 customer number targets – The first 50 customers as a broker are the hardest to get. But when you have 300 customers your business becomes bulletproof, and you can start thinking about the next journey.
- Know the numbers – Analytics are important, but you need make sure you are paying attention to the right numbers. Don’t get stuck in the weeds breaking things down in extreme detail to the point where you stop seeing the basics.
- There are certain skill sets you need to learn – At the end of the day, you are the leader of your business. Own the responsibility and take care of the highest value tasks; no one can solve these for you.
- HR – No matter how big or small your business is, HR will always be your biggest headache and your hardest challenge. You need to own it, no excuses.
- Stay focused and be proactive – The best brokers don’t get distracted by things they can’t control.
Download the Better Broker’s Guide to High Performance Broking and start your journey to increased efficiency and profitability.
Supporting you throughout your broker journey.
If you're interested in our guide to becoming a high-performance broker, you might also be interested in the other ebooks in our Better Broker series.
We show you why the quality and depth of your referral network could be the difference between success and failure in the industry in our guide to building your referral network.
Discover our 8-step plan to take the leap and become a self-employed mortgage broker in our guide to starting your own mortgage brokerage.
We show you how to future-proof your income strategy in our guide to diversifying your business into commercial lending.
Looking for the right support and tools to grow your business?
Contact us for more information about how we can support you throughout your journey.
Remember you can always reach out to Them Lam, our Head of Strategic Partners & Recruitment for a chat here:
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