I know it sounds completely insane, but I promise you there is a great amount of logic behind this theory. My career has slowly turned into being a “businessman” on a journey to greatness, and the medium I chose just so happens to be the mortgage business. As a Phoenix Loan Officer the majority of my business is people looking to buy homes that cannot afford to pay cash, so they finance. The number one referral source for that is through the great phoenix real estate agents that I have partnered with.
I recently sat down with an agent that I really respect, and the conversation was about how we could make each others lives more efficient and more importantly the lives of our future homeowners. The question came up multiple times about being available on weekends and evenings, it was more like “are you going to be able to work with my buyers in the evenings and the weekends”? My answer was along the lines of “if an appointment has been set with me ahead of time of course, however if it is a last minute thing we have that handled as well”. My family is important to me, and I don’t like to rob them of time spent but we have systems in place to accomodate and that leads me to my next point.
I want to introduce a concept called “scale“, it refers to when your business is increasing but you NEVER lose sight of what made you great in the first place. It has to do with putting the appropriate systems, checks, balances and the right people in place to ensure that when people catch on to your greatness and your phone starts ringing off the hook that you may continue to provide the level of service that people loved.
My question to the agent about this was in regards to her current loan officer, I asked what happens when they get really busy? The answer the agent gave me was that they become hard to get ahold of, they do not call my potential buyer candidates quick enough and people go elsewhere… This is the exact thing I am talking about, I have NO DOUBT in my mind that when this particular loan officer is getting busy like that you can categorize it as GROWTH, his production is better and what follows that? Bigger paychecks… Great, this is GROWTH in my book but the question I want to ask is this, do you think this not returning phone calls, and contacting clients in a timely fashion (because he is busy) is going to lead to him losing business eventually? His service levels have diminished, this was probably a good reason he was getting referred in the first place I would bet.
By scaling, you can bring on the right people, put the right systems, checks and balances in place to maintain that same level of service that made you great in the first place. To me, it’s the only way to success. My business has increased to a level that now requires a team of 4 people (including myself), at 40 hours a week each we work a total of 160 hours and with that brings more time to provide that same level of service our referral partners appreciate.
Have you lost sight of what made you great in the first place?
-Mr. Electric Himself
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