#2 - KPIs - The Most Important Numbers to Monitor in your business
Sunday is my usual day of the week where I'm starting to review my mortgage figures and what we've done as a team, what I've done individually, what each one of my individual advisors has done on a weekly basis. And, I actually thought it'd be useful for you to understand the metrics that I'm following ultimately for the sales, for the number of clients that we're dealing with, for the leads, and how that's going to impact on the overall year. And, equally, how I'm tracking this on a weekly, monthly, quarterly and annual basis. So, hopefully whether you're starting out, whether you've got a relatively small team, or whether you're running a large mortgage brokerage, this is going to be useful for you in order to be able to track your year, make more money, have better success, deal with clients better, and ultimately build longer-term relationships that are going to in turn build your mortgage brokerage.
Key takeaways- Profit first, because you can start to allocate, how much do you want as salary? How much do you want as a bonus at the end of the quarter? Where will you be at the end of the year? And then, you can start to address your marketing, your sales, your expenditure, and actually start to build your business from the ground up. Everything relies on strong foundations.
- Where are your leads coming from? For example, are the majority coming from introduces, are they coming from estate agents, for example? Are you getting them via accountants? How many referrals are you getting? You need to break down the number of leads that you're getting in every single one of those sources.
- How many of those leads are converting to fact finds?
- How many fact-finds off of the back of that, how many of those fact finds are actually turning into an agreement in principle.
- You need to start making this marketing machine that runs and enables you to grow and scale if that's the route that you ultimately want to go
- Will referrals.
- Survey referrals.
- Broker fees
This podcast is about helping you to build a better business, a business around your lifestyle, a business of your dreams. Whether that is as a one-person band whether it's a small team of you yourself, and an administrator, and another advisor. Or, whether you want to go for performance and have 50 advisors and 125 staff doing hundreds of applications a month. It's all about bringing you the education, inspiration, and motivation.
Thank you very much for listening. Please give me feedback on the further episodes, and I look forward to chatting with you again in the not too distant future.
See you on another episode of Mortgage Pro Podcast.
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