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What’s covered in the video:
Achieve operational excellence 5:00 – 7:30
Meet your clients’ rising expectations 11:05 – 15:50
Find your niche 25:30 – 26:10
Acquire (and keep) the right clients 31:05 – 31:40
Align strategy and tactics 31:40 – 32:30
Operational excellence is about optimising speed, when you should go fast and when you should slow down. It’s not just about loan processing, it encompasses various aspects of your business such as marketing, compliance, sales, leadership, training – these all contribute to operational excellence.
It’s important to identify if there are roadblocks in your business that might stop you from achieving operational excellence. There are many challenges businesses are facing right now from staffing issues to lead acquisition. True operational excellence is achieved when you are maximising profitability, innovation and collaboration, attracting top talent, aligning strategies and tactics and acquiring the right clients for your business.
Consumer demand and expectations have dramatically increased. Consumers want more from you and it’s time to step up your game to meet their rising expectations.
Part of operational excellence is thinking about your client value proposition and what you really do. What real value exchange exists between you and your clients? How can you deliver a seamless yet memorable experience for them?
Embracing a fresh perspective is crucial. Seize every opportunity to view the world through the lens of customer experiences, whether that’s the next time you are out to dinner or when you are travelling. You should look at all the customer experiences that surround you and assess what they do well and how they could improve.
Take a moment to reflect on your operational excellence by considering what your clients say about you when you’re not actively seeking Google reviews. By constantly re-evaluating and striving for excellence, you can adapt to rising client expectations and deliver experiences that leave a lasting impression on your clients.
Brokerages across the country offer everything from residential to asset finance and commercial finance for a host of clients from first time buyers to investors with large portfolios.
It’s important to know your own clients and develop your own areas of expertise. Once you’ve identified your top two or three niches you can create processes around those niches. By doing so, you will optimise your service offering and the increase the likelihood of providing an exceptional client experience.
Instead of being a GP, aim to become a specialist. Just as you would seek out the best specialist when faced with a severe illness or significant problem, strive to become the best in your field. Prioritise mastering your chosen areas before expanding your services or client base.
Take a moment to think about the clients you have acquired during your journey who may not have been your typical target audience. Consider why you chose to bring them on and what you might have done differently. Did that client suit your business? Did your business suit that client?
When you have the right clients in your business you know they will become raving fans about what you do. That’s because your business is set up to service their needs in a way that they want. By effectively meeting their needs, you increase the likelihood of receiving referrals from clients to people who are similar to them and right for your business.
Whatever your strengths are, you should play to them. Create strategies and tactics in your business that work for you and the clients that you serve.
Don’t go too far afield. If you want to go into commercial broking as a good example, then yes, you’re going to need to know how to read a P&L statement and need to know about debtors, inventory and all sorts of bits and pieces. But if you’re not prepared to invest the time or resources, then maybe look at an alternative strategy, whether that’s tick and flick or to referring to someone else, but have an alternative strategy, play to your strengths.
The ROI on developing your strengths is way higher than the ROI on developing your weaknesses.
The information provided on this website is specific to the particular situation described and individual experiences and results may vary. Past performance is not an indication of future performance and no representation or warranty is made that the information contained above is appropriate for any particular circumstances or indicates that a particular course of action should be followed.
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