Creating a Compelling Business Vision
by Steven Marshall
Why wait until the end of the year to crystalize YOUR vision? Learn from a Top Producer exactly what he did at the end of last year, and DO IT NOW!
For far too many loan officers, the greatest obstacle holding them back is their lack of a clear, focused, compelling vision for their business. A compelling vision has the power to motivate and inspire us. Often I see people without a clear vision that use self-discipline to "push" themselves to succeed. Rather than "pushing" yourself, I recommend creating an inspiring vision that "pulls" you forward.
As we approach the start of a new year, it is an exciting time to paint a clear picture of what next year is going to look like. Are you going to defy the odds and exponentially grow your production? Are you going to raise your income level? What changes are going to make in your business? Are you going to step up and realize your dreams?
When I created by 2001 vision, I made sure it was clear and inspiring, so that it "pulls" me to succeed. Using will power or self-discipline to "push" us is not enough to accomplish great things in the mortgage industry. The competition is too tough and will wear you down. If you are ever feeling unmotivated, you simply do not have a compelling vision. People are NOT inherently lazy; we simply have impotent goals that do not inspire us. With a clear vision for your future, you will have power in the present. You will have the energy to propel yourself toward your goals.
The first step to creating a compelling vision is to get crystal clear on what a perfect future looks like for you. Act as if your success were guaranteed and make a wish list of all the results and outcomes that you would like both personally and professionally. The best book that I have ever read on creating a compelling vision is Todd Duncan's book, The Power To Be Your Best. Last December, I purchased Todd's book and spent an entire week in Los Cabos creating my 2000 vision and goals. Many of those goals have since been realized thanks to this process.
Combine all of your goals, dreams and outcomes into a powerful vision statement. Use words that inspire you. Write the vision statement as if it has already happened. Here is an example of a vision statement.
"Today is Dec. 31, 2001 and I have successful closed $50 Million of personal loan production with a net income of $500,000. I only work 4 days a week in my business. I invest 1 day a week designing the business and life of my dreams. I have taken 8 weeks off this year to go on dream vacations with my family and to attend the best seminars in our industry. My origination business operates smoothly with or without me and systematically delivers "wow" service to my clients."
After you have created a compelling vision. it is important to chunk down your goal into manageable business pillars. First, calculate the gap between where you and where you want to be relative to your production goal. If you closed $40 Million in 2000 and set a goal of $50 Million in 2001, the gap would be $10 Million. Focusing on the $10 Million gap is much more manageable than looking at the entire $50 Million. Some times when we raise the bar to a new level of production, our brain says to ourselves, "Yah right, you're going to close $50 Million. I'll believe it when I see it." By chucking the goal down to just the $10 Million, you can subconsciously make it much easier.
Next, you want to chunk the $10 Million goal down into business pillars. For example, I would recommend breaking the $10 Million goal into three new business pillars of $3.33 Million dollars each. One pillar could be improved referral marketing to your customers. A second pillar could be adding new strategic Realtor and financial planner partnerships. A third pillar could be developing a consumer direct marketing plan.
I recommend using "zero based thinking" when designing the business plan for each pillar. A phrase that I often use is the following: "If tomorrow, I woke-up and lost the entire $40 Million a year of business that I already have, could I create an action plan for the new referral marketing to guarantee $3.33 Million of closed loans next year? Could I do this if the financial future of family depended on it?" Keep chucking your goals into smaller pillars until you can confidentially answer yes to this question for each pillar. Once this process is complete, all you have left to-do is to create your action plans and begin implementing.
According to Mark Allen, the 6-time Iron Man Champion, "The greatest battle we wager in completing our vision is the battle we wager within ourselves."
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