Successful brokers focus 80% of their energy on one thing

Posted by Oct29, 2013 Comments Comments Off
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Today I want to talk about energy and where your energy is directed and where successful brokers direct their energy. It’s a simple concept but a very powerful one and something that all success business people do.

We all have a limited amount of energy. Let’s assume that we all have 100 units of energy per day (depending on your health and lifestyle maybe you have more and less on some days). We have to decide where we want to spend our 100 units. For example, the 3 key areas in life are business, personal and family – a balanced life means we need to share our 100 units amongst all 3 areas in life (I.e. if we spend 99 units at work then by the time we get home we have nothing left for our family and guess what? Our family life suffers. Do it long enough and your family life and relationship dies!). But back to broking…

Let’s assume that you want to spend 50 units of energy at work. Where does that energy go? There are probably 4 key areas you can spend that energy being prospecting for new clients, dealing with existing leads/prospects, managing existing applications (I.e. Dealing with lenders) and business administration (I.e. Bookkeeping, admin, blah, blah, blah!). Where is your energy going?

Successful brokers (and business people) spend 80% of their energy in the first area – I.e. Prospecting for new clients because they know that if they do this, it takes very little energy to convert the business when they get it (as the hard work of building trust and credibility has already been done). I’d argue that you spend zero energy on dealing with existing applications and business admin – it’s a complete waste of time and energy – simply delegate that work to someone else.

Prospecting for new clients might include writing a blog, updating your linked in connections and profile, calling existing clients and finding ways to add value, hosting a webinar with a local buyers agent or accountant, building your and your business’ profile in your niche (you have a niche by now don’t you??? Tell me your target customer isn’t just anyone that wants to borrow money. Every broker needs a niche), sending a text message to your database about what you expect the RBA to do to rates, writing a free report that people can download when they visit your website (in return for providing their email so you can start building a relationship with them), calling a client with an idea about how they can growth or protect their wealth and the list goes on.

Business is easy. It’s the hard work that you need to do at the front end (that subsequently makes business easy) that is the thing that most brokers aren’t willing to do. So if you want to achieve better results, start focusing your energy on the things that matter the most (in business and in life). Energy is scarce and limited so be careful where you direct it and who (or what) you let take it from you.

The person that brings the most energy, wins! Energy is typically reflective. If I put energy in, I’ll get energy back.

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