Dear Loan Officer: Creating Your 90-Day Business Plan

Dear Loan Officer,

Happy Tuesday! I wanted to pull this one up from the archives – a powerful tool for you, to think about how you’d like to engage and make your Q3 the most successful quarter yet. It focuses on the 90-Day Business Plan.

What is the 90-Day Business Plan? In a nutshell, it is a one-page plan focused on the number one thing that, if accomplished, will have the greatest impact on your business, money, or life.

Create your 90-Day Business Plan now 

When put into practice, the benefit is clear: If you have a clear understanding of what your goal is – and apply strategies and tactics to accomplish the goal – exponential achievements can be attained. 

*The key is in creating priorities, attaching metrics to your priorities, and reverse-engineering the activities that might need to take place to achieve your main points.

What are your top business priorities, as we’re entering into the third quarter of the year?

 

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Dear Loan Officer: The Law of the Dress Rehearsal

“Practice makes perfect. After a long time of practicing, our work will become natural, skillful, swift and steady.” – Bruce Lee

The Law of the Dress Rehearsal – another one of Todd Duncan’s foundational concepts of High Trust Selling – states that practicing your lines, elevates your level of performance. 

I want you to think about what these things have in common:

1. Cirque Du Soleil
2. Taylor Swift
3. Maroon 5
4. Phantom of the Opera
5. Damian Lillard

…Were you able to guess?

They all spend far more time practicing their craft than they spend performing. Our own local hero Damian Lillard shoots probably hundreds of 3-pointers at every practice, to then play two to three games a week where he may ultimately shoot five or ten.

So my question for you, is this: how much time do you spent right now, practicing your lines?

The purpose is to win more business than you’re winning right now. I have spent thousands of hours on this law, building out client presentations, rehearsing my lines, etc.

HOURS are spent, so that when it comes time for us to perform, we are ready.

So, how much time are you going to spend practicing your lines? For the next quarter, second half of the year? What parts of your craft do you need to get better at?

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Dear Loan Officer: Signs of a Messy Business

Dear Loan Officer,

Happy Tuesday! Last week, I spoke to you guys about Todd Duncan’s Law of the Broom – that to build your business up, you must CLEAN it up. Ultimately, the ability to take time off (when you want!) and to build your business up, allows you to operate with less stress and achieve more growth.

The first step to cleaning up a business, is to be able to identify the signs of a mess. Think of the following implications:

1. If you can’t find time to do things right, when will you find the time to do things over?
2. If you don’t have an assistant, you are your assistant
3. If you don’t tell people when to call you, they will call you whenever they want
4. If you don’t show clients how you do business, they will assume you do business any way they want

I delve in a little deeper in my video below:

What are your takeaways? Please share them in the comments below!

 

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Dear Loan Officer: The Law of the Broom

Dear Loan Officer,

In the New York Times’ best-selling book, “High Trust Selling,” Todd Duncan shares the Law of the Broom – to build your business up, you must CLEAN it up. Early on in my career I adopted this concept, and it has been a cornerstone concept for me ever since. I utilize it when coaching my mortgage advisors, and the coaching clients I speak to regularly. Many salespeople only spent a portion of their time selling, because they have to spend the bulk of their time managing the logistics around selling. Below, I delve into how to create boundaries, and how you can delete it, delegate it or automate it. 

I wish you all the best!

 

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Dear Loan Officer: The Power of the Lost Leads Conversation

Dear Loan Officer,

Today, I was having a conversation with one of my coaching clients about the power of having a lost leads conversation (Learn more about my coaching here). This is a topic of conversation that comes up a lot with the loan officers that work for me and the clients that I coach regularly. Cherry-picking the best-of-the-best from these conversations, I’ve compiled an influential role-play scenario for you, for what I think is a  powerful but conversational method of speaking to your real estate partners.

Let me know what you think!

 

I wish you all the best.

 

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Dear Loan Officer: Your Success is Tied to Your Agenda!

The secret to your success is determined by your daily agenda – John C. Maxwell

This topic has been the main driver of my conversations lately with many of you. With COVID-19 lockdown and various regions entering into revised openings, the disruption has messed with our daily rhythms and habits. Except you must know this: Your daily routines are more important now than ever. Think about identifying the 3-5 things that you’ve got to get done today – I encourage you to include in your daily disciplines – Did you start your day right?

 

I wish you all the best!

 

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Dear Loan Officer: What Is Your Time Worth?

Dear Loan Officer,

Some of you may know, that I’m a certified performance coach – that I coach some of the top mortgage professionals around the country – via Todd Duncan’s High Trust coaching group.

Todd is also a New York Time’s best-selling author of “High Trust Selling”, where he outlines 14 laws that are really foundational on how to serve a High Trust selling experience – “laws” that my branch utilizes everyday to serve our clients, and laws that help people around the world to fine-tune their client service methods.

I want to share with you today Todd’s Law #6: The Law of the Hourglass, which contends that you must make your moves before your time runs out.

We are all handed the same 24-hours in a day; the most successful professionals across the country are more productive with the time they put in at work than the rest of the gen pop. But this is NOT an elitist group. We all house the capability to deploy tangible ways to increase our productivity in the day. One of the best ways to look at how you spend your day, would be to calculate your rate per hour. What is your time worth? Below, I dive into how to calculate your hourly rate, and how to operate your business by this principle to create less stress and more efficiency.


 

I wish you all the best!!

 

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Dear Loan Officer: How to Sell the Problem First

“When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there. But if you keep going, and live with the problem and peel more layers of the onion off, you can oftentimes arrive at some very elegant and simple solutions.” – Steve Jobs

A succinct, but powerful sales training lesson is this – Sell the problem first. Sometimes, we fall into the trap of selling solutions, or selling ourselves first when we’re pitching to a client. If you’re talking to a client that doesn’t believe that they have a problem or that there is a problem, any solution that you bring to the table could easily fall on deaf ears. This really applies to selling anything; a product, service or idea.

Since we’re in the mortgage business, both you and I understand that a client’s problems are much bigger than if they qualify for a loan; the reality is, 60 percent of Americans couldn’t come up with $400 for an unexpected expense, without selling something off or borrowing money. Juggling retirement, college, emergency funds and savings, can weigh on any process or budget. Essentially, the problems that we are all facing as a society.

In the below video, I breakdown how to consider and sell the problem first, what your client’s biggest blind spots are, and what the two biggest thinking errors are that a client may employ (Compartmentalizing, the commodity trap) as you continue your pitching process.


I wish you all the best!

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Dear Loan Officer: How to Budget on a Variable Income (And Not Lose Your Mind!)

Dear Loan Officer,

We all have a lot of competing financial responsibilities. As a loan officer, how can you accurately budget when you don’t know to a T how much you will make in a given month? In my below breakdown, I share a simple “3 Bucket” budgeting concept for understanding how to allocate your funds throughout the month.

Sometimes, it can feel like too many responsibilities because of the income variation – especially if your income varies on a commission-based salary, or reliance on arbitrary bonuses – but have no fear, a simple system in place can ensure that you are able to pay the bills today, tomorrow, the next day, and the next….

 

I wish you all the best!

 

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Dear Loan Officer: What do the Top 1% of Sales People Do Differently?

Dear Loan Officer,

There are some misconceptions out there about how to sell most efficiently. Some, dive in head-first with one goal in mind: to close the deal. Still, there are strategies that the Top 1% of salespeople do differently than the other 99%. In my below video, I recap a great article I read outlining the Top 5 strategies. As you watch, marinate on how you’re faring, and reconcile how it relates to the pandemic and connecting virtually with your clients. And identify; are you going through this, or are you GROWING through this?


I wish you all the best!

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