Discovering your 'why'

Over the last two years through Broker Essentials, I have worked with, mentored and spoken to over 7,000 brokers and what is clear to me is that the best brokers are those that have a clear why! The best can be defined by a number of metrics and it’s not always volume of loans written, but what the best brokers have in common is they are laser focused on their why and their confident with their position in the market. They have a client value proposition, which is crystal clear and they live and breathe it. It’s not just another throwaway line on the back of a business card or email signature. 

When I mentor brokers we will discuss at length what they believe their why is, their passions and how does this resinate and connect with the values and the needs of their clients. The importance of understanding your why is critical to the connection you will make with your client. It has never been more important then now to understand the problem you are solving for your client is more than just providing a home loan. I have long said that the best brokers in our market leave their client’s with a feeling and not just a home loan, an experience not just an appointment and as a trusted adviser on a lifelong journey and not just another customer treated like a number. 

For the broker that has not discovered their why, you will see it in their eyes as they meander through the day, process another file, complain about another bank, mindlessly reply to another email and grab another water bottle, pen or stress ball at a PD day and leave early before they keynote or best session of the day that may just help their business just for some CPD points. For the broker that has not discovered their why is not truly invested in the craft. They may say they are, but if they are honest the industry has gotten harder and they are getting left behind and their clients are not getting the best of them. In fact, many of those they don’t know their why just got into the industry for all the wrong reasons and maybe they would be happier finding their why elsewhere. 

So where does that leave you?

If you are a broker that truly loves the craft and is passionate about solving problems but you are not seeing the results from your hard work, now is the time to go back and revisit your why. Why did you become a broker in the first place, what were you trying to achieve personally, professionally, what problem are you solving for your clients and how do you make them feel? 

If you are unsure where to start try asking yourself these questions;

1.     Why am I in this business?

2.     Why am I not getting the results I wanted (be honest, you will already know the answer)?

3.     Why do customers buy from me?

Just like every good business with a plan (yes you should have a business plan even if it is just one page) you need to know why your customers buy form you. Start by creating a customer avatar that allows you to define your ideal client demographic, the market in which they operate, who are the competitors, what unmet needs do they have, their fears/frustrations and their wants/aspirations? As it is just important to know your why so it is as important to understand your clients why!

So remember your role of a broker is about solving your clients why, why they need you and just as important why you need them! 

https://www.theadviser.com.au/breaking-news/39051-jason-back-on-what-the-best-brokers-have-in-common

Jason Back is the Director of Broker Essentials and is a well know figure in the finance industry and sort after media commentator. In 2016 Jason foundered Broker Essentials and launched a training course for brokers after years of inquiries into the best practices and habits of a high performance business.

Jason was the Managing Director of The Australian Lending & Investment Centre (ALIC) and has been instrumental in taking ALIC to the forefront of the mortgage brokering industry. In 2014,15,16 and 2017 ALIC was voted the top independent brokerage of the year by Mortgage Professional Australia, Australia’s best brokerage in 2014 & 15 at the Australian Mortgage Awards and MFAA in 2016 and 2018.

Jason has created a practical and targeted program for brokers and administration staff that will help them grow their business by focusing on sales through service excellence. Jason’s Broker Essentials will take you through the behaviours of the nation’s best brokerage focusing on process, business management and the client journey.

Jason has over 27 years’ experience in the finance sector, having worked in senior sales, distribution and management roles for ANZ and having provided financial advice and services on behalf of financial planning, equity trading platforms, private banking, lending and retail distribution brands.

More details can be found on LinkedIn https://www.dhirubhai.net/in/jason-back-broker-essentials/ and at Broker Essentials www.brokeressentials.com.au