Tax time is here again … or at least it will be soon. With 2011 in the rearview mirror, all that’s left of it are the forms and paperwork to file with the Internal Revenue Service (IRS). Checking the profit and loss (P&L) and the balance sheet should be a regular occasion to confirm you’re in the black and growing. Hopefully, no one is surprised by year-end figures or trying to play catch up now while your focus should be on 2012. If you own a business or not “on paper,” you’re still a business owner if you’re a mortgage loan originator (LO) and need to track your progress. The name of your business is YOU Inc., and your shareholders include those in your client database and your referral partners. The main focus for 2012 is to keep the stock hot at YOU Inc. so no one sells or downgrades the value.
Each day is like a fresh balance sheet at YOU Inc., and the chief executive officer (You) are on one side or the other as an asset or liability to the business. Look back at your behaviors yesterday or even last week. How often were your actions proactively and intentionally ensuring that you’re an asset to YOU Inc.? What unintended actions or reactions caused you to become a liability? Was it for a day, for a week? Let’s face it—a person is an asset because of the proactive efforts they make to generate results. It’s easier to go through the daily motions or complain than it is to proactively seek advancement and growth. Never take the path of least resistance as a liability if your plan is to grow YOU Inc.
So, how do you improve your balance sheet and become an asset to the business every day? There are many different ways to accomplish this, but let’s focus on K.I.S.S for 2012 (Keep It Simple Stupid):
►Decrease debt (stress, pessimism, fear, and things that are holding you back)
Pay attention every day to focus on the tasks that reap the greatest reward. Understand that you have control over your mind and your actions to proactively seek excellence in production and growth. Eliminate negative thoughts and remove pessimistic people from influencing your life.
►Increase assets (vision, focus, relaxation, determination, and the things that move you forward)
Always have a plan in writing and always seek knowledge and continuing education. Water the soil every day to grow and learn in your career, while taking the time necessary to relieve stress and keep balance. There are no limits other than the limits you put in place yourself.
So, if you’re surprised by your balance sheet this year, don’t be next year. Always have a plan and monitor your progress during the year to confirm that you are always in the black.
Tip of the month …
Qualify prospects quickly. Don’t drag clients or potential clients on. It’s a waste of their time and a waste of your time. Place and prioritize quickly to ensure they get in the pipeline as soon as possible, or that they are provided with the best recommendations should now not be the best time to move forward. Saving time means you’ll have more to prospect for new clients and close more loans.
Andy W. Harris, CRMS is president and owner of Lake Oswego, Ore.-based Vantage Mortgage Group Inc. and 2010-2011 president of the Oregon Association of Mortgage Professionals. He may be reached by phone at (877) 496-0431 or e-mail
[email protected] or visit AndyHarrisMortgage.com.
