The art of doubling your settlements with less work

Posted by May23, 2016 Comments Comments Off
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I believe that almost every broker in Australia could double their settlements without working anymore hours. I know. It sounds like a big statement doesn’t it? But read on because I’m going to give you some practical examples.

Before I get to the practical examples, it’s important that you understand that there are three steps to changing any belief about what’s possible. Firstly, you have to hear about it. Then you have to see it. Then you have to do it yourself. Let me try and change your belief by sharing a story…

In 2006, I settled $74,507,446. I had a super-busy year and I thought that I had reached my limit/capacity. However, I continued to focus on refining my systems and in 2007 I settled $108,137,551 – a whopping 45% increase! The only reason this happened is because I left room for the possibility that it was doable and I asked myself every day “what does the perfect day of a broker that settles more than $100 million per year look like?” I didn’t want to work harder. I focused on working smarter. The top broker in Australia settled over $300 million last year. Ask yourself: “what does he do differently from minute to minute compared to you?” Ask yourself that every day before you start work. That is exactly what I’d be doing if I as still writing loans today… and given I settled $108m p.a. about 9 years ago, I’d like to think I could write over $200m+ today!

There are 168 hours in every week

A 50 hour working week equates to 3,000 minutes. The trick is to make every one of these minutes’ count. The trick is not to work more. The trick is to get more done in the same amount of time. To do this you need to each of the following three things:

  • Systemise everything in your business using technology, videos (instead of written procedure manuals – videos are far easier to make) and checklists. Aim to get things so systemised that anyone could walk into your business and run it.
  • Automate as much as possible but not everything. Technology can help greatly with automation. Always ask yourself “how can I never have to do this task again”. However, clients typically like some personalised contact so don’t automate everything.
  • Delegate every single task that you do that does not make money. Value your time. If you want to settle over $100 million p.a., your time is worth $250 per hour. So each and every hour you need to be doing something that has the capacity to generate more than $250 per hour. If you are not there yet, set yourself a goal e.g. by Dec 2016 I will not be doing anything that I can outsource for less than $250 p/hr.

Don’t try and change everything all at once. The trick is to aim for consistent and regular (daily) improvements. It’s better to improve one thing each day by 1% than only improving one thing by 100%. I’m still working on our systems and processes.

There are two systems that you must nail

There are two systems that will make you the most amount of money; your sales system and your marketing system. The role of your sales system is to convert a prospect into a client with as little of your time as possible – aim for 2 hours or less. The role of your marketing system is to ensure you have an endless supply of good quality leads. Again, this should work with as little of your time/input as possible.

Less doing, more living by Ari Meisel

I recently read a book by Ari Meisel called “Less doing, more living” and I highly recommend it. It will only take a few hours to read and you’ll get some very practical tips that you can start implementing today. These things might seem really basic but that is my point – you need to find 100 basic tips and strategies that will make you 1,000% more efficient.

Here are just a few simple examples:

  • I have started using Evernote for almost everything. In fact, the idea for this article was saved in Evernote. If I go to a conference, my notes go into Evernote. If I have a marketing idea, newsletter idea, etc. I completely download all the “noise” that is inside my head into this app.
  • What system do you have to set reminders for yourself? Do you use a to-do list or put remainders in your electronic diary? These are clunky solutions. I now use FollowUp.cc. It is so simple. If a client or business associate emails me and I reply straight away but want to follow them up next week, I simply BCC may31@followup.cc and on May 31 I’ll receive a reminder email. It’s awesome. You no longer have to rely on your memory.
  • Set up a rule in Outlook so that any new email that has the term “Unsubscribe” in it (but doesn’t have the term “FW” or “RE”) is automatically moved into a folder called “optional”. You can read all those newsletters when you are traveling.
  • If you don’t have time to get to the gym download an excellent free app called Sworkit. It’s the best fitness app for exercise at home.

There are other blogs and books that you can read that will help you – this is only one example. Spend a few hours a week educating yourself about what tools you can use to save time.

Don’t know where your time is going?

Simple. Use this free time tracking tool to record what you do during the day. You can install it on your desktop and smartphone. Create a few different categories like admin, client meetings, research, marketing, training, etc. At the end of the week it will tell you where your time is going and more importantly what “wastage” you need to eliminate.

You can settle more than $100 million working 40 or less hours per week

I know because I have done it. It is as simple as making every minute count. Good luck.

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