The last 18 months have seen phenomenal growth in new lending. In many cases, this volume surge has forced brokers to think about growth a lot quicker than they thought they would have to. In addition to wondering if this growth is sustainable, they’ve been asking us questions such as: “what should I do,” “what is everybody else doing,” and “what’s working?”

At our recent broker roadshow, we conducted an insightful look at commonly used business models that brokers can adopt, sharing three of the most popular models to the audience.

Following on from this, we shared the top 10 things that bring success to broker businesses:

1. Pipeline management: consider where your new customers, new referrers and new staff are coming from
2. Understand the value of your time and focus on activities that generate revenue for your business
3. Opening night principle: prepare everyone to perform at their very best with ease and confidence every time
4. Know your strengths and weaknesses
5. There is no substitute for hard work – remember that growing broker businesses are always hustling
6. Understand the 50-300 customer number targets
7. Know your numbers and even more importantly, make sure they are the right numbers
8. There are certain skill sets that every broker owning a business needs to learn and conquer – and no one can conquer these but you
9. HR: no matter how big or small your business is, HR will always be your hardest challenge and you will need to own it
10. Stay focused and be proactive: don’t get distracted by the things you cannot control

Your Partnership Manager is here to support you. Reach out if you would like to discuss your business model and how to drive success in your business.