THE HORRIBLE FEELING ORIGINATORS HAVE AND HOW TO FIX IT
We’ve all been there. Sitting in our office or in a car under a tree and having that sinking feeling in the pit of our stomach.
Where will my next deal come from?
Why isn’t my phone ringing or e-mail lighting up?
Our creditors don’t want to hear it’s slow or busy they just want their checks.
I have a son that is going to be graduating college in a few weeks and he has announced that he is going to become a real-estate broker and start selling commercial real -estate. The company he is going with has a great training program but he will be a 100% commissioned salesman.
JUST LIKE US!
When our business is good – life is awesome. What other field could a college drop out who barely graduated high school ( like me) ever have a high six figure and possibly 7 figure earning. But as we all know the bad times are really horrible.
We wonder if we did something wrong.
We desperately search for some new method but usually wind up getting suckered by a snake oil selling guru who realizes we may be desperate.
I TRIED TO TALK HIM OUT OF IT.
My son is a really great kid the kind any father would be 100% proud of. But I didn’t want him to have the same struggles I had when I started. I truly had to fend for myself with no safety net or room for error. My parents were not able to assist me financially or even emotionally. In fact, I supported them emotionally and financially but that’s a story for a different article and time.
During my conversation with my son about all of this he did not change his mind at all about his career path. That actually made me realize that he is focused and that is truly one of the keys to success.
YOU MUST BE FOCUSED AND YOU MUST BE COMMITTED.
It’s what Napoleon Hill called that “burning desire” to succeed and thank goodness he has it. I know you have it too because you are an originator and you are reading this article. Keep that in mind when things get tough.
I SHARED THE “MAGIC” FORMULA WITH HIM.
He has seen my ups and downs but he has also seen how I operate so to speak. I discovered this formula from 35 years of originating and being an avid reader of motivational and marketing books. But I have also taught and coached some of the top producers in our industry. There are currently 5 “trainers” in our industry that I can directly call previous coaching members and I couldn’t be prouder of them.
Here’s the formula.
Choose your goal income.
Break it down to your average loan and note what your average commission is on a transaction
Note now how many units you need to do to make your goal.
EX- 200,000 loans- 100 bps=2000 per deal – If you want to earn 100,000 that’s 50 deals or 4-5 per month.
UNFORTUNATELY THAT’S WHERE MOST STOP and that is called Dreaming.
Now pretend your business is a building and it’s got 4 pillars holding it up.
What are those 4 pillars? The good news is that you can choose so here are some ideas.
4. Niche marketing like boomerang buyers or renters or divorcing clients
5. Social Media
7. PR – radio-tv- print ( keep an eye out for my newest Originator Success Manual -Celebrity Originator)
The list can go on and on but I think you get the idea right.
WAIT- WE ARE NOT DONE YET
SO now you have a goal
You have chosen 4 ways to generate business.
Now you have to actually choose some strategies for each of the 4 pillars. You know people aren’t automatically give you business or referrals. You can’t just want social media or PR leads you actually have to have PROVEN STRATEGIES that work so you can implement them right.
A few months ago I actually sat down and wrote out my top 48 PROVEN WAYS that I use to generate new business and put it into an Originator Success Manual that you can use to grow your business and not have to worry about costs since most are inexpensive but VERY EFFECTIVE.
Here’s the table of contents and more information –https://48waysbook.com/sales-letter/
BUT WAIT- WE ARE STILL NOT DONE!
Most originators would not have gotten this far right? But here we are with a plan and tactics to implement that we already know work.
Each and every month you MUST go back and see if you accomplished your goals. Did the strategies work? If not why not? Should you change them?
Now you can finally start planning for the next month.
This is the exact system I shared with my son during that conversation. He will have his ups and downs and my hope is that I can help him thru the downs and take his ups even higher.
Now what about you? Would you like to finally have 48 Proven Ways To IMMEDIATELY grow your own production AND the software to make your dreams into a reality. If you do that is awesome but if you don’t you should check this out right now https://48waysbook.com/sales-letter/
I would LOVE your thoughts and comments below and of course you can feel free to share it with whoever you think would benefit from it.
Dedicated To Increasing Your Production
BTW- So thrilled that I just sent in my last tuition and rental check and can’t wait his successes