Wake Up! You’re Broke.
As a commissioned loan officer, the reality is that every morning you wake up, you’re broke!
You start each day at ZERO dollars in your purse until you find a way to bring business in the door and (this is important) get those loans closed.
Building an awesome business is always the challenge that we all face but here are 3 things you can do right now:
Add more people to your list: What I’ve found is that LOs have a database of prospects, clients and real estate agents – but what about family and friends? I mean your holiday card list, your church members, club membership list, teachers, newspaper reporters and friends of friends.
If you have not added these people, I’m sure you know at least 100 people you can add right now. And in the future, make it a goal each week to add at least 10 new people to your database by Friday. (If you’re not talking to 10 people, you’re going to go broke.)
Stake out a territory: Real estate agents stake out a “farm area”. I once lived in a subdivision with 2,000 homes and mailed refi cards for years. Over the years, I had mortgaged over 20 percent of my “neighbors”. If you don’t live in a subdivision, then create a “brand” instead. (VA Expert, Builder Expert)
Create an Advisory Board: I’m not talking about a leads or networking group. I’m talking about people you respect and will be honest (that being the operative word) and willing to help you succeed. You simply can’t know it all and do it all. Periodically consult with them for advice and ideas on how to increase your business. Don’t ask for business! Ask for advice. (Small business owner, attorney, marketing consultant, accountant…a good start.)
Oh, and one more thing! Look at the long term and realize that it may take 1 to 2 years to build your business to a point where you never have to wake up in the morning and wonder where your next paycheck is coming from.