At times like these, your clients, your staff, your families and the communities you serve want and need certainty to help them deal with the challenges confronting us.
They may not directly voice it, but they do want it.
More certainty, more confidence, more leadership.
Thinking about Maslow’s hierarchy of needs, a lot of people have reverted ‘down’ the pyramid to survival mode. They’re thinking about ‘getting by’, ‘weathering the storm’, and managing their health AND their finances till things get better.
Or said differently, most people revert to self-focus.
As a broker, whether you’re the business owner or a loan writer, right now is a chance to lead people through this process and give them the more confidence to know you’ve got their back and that they have options.
Though some brokers might think leadership is for other people, it’s not.
It doesn’t matter whether you have a team of 10 or a team of one (you).
The title is irrelevant, but what you do matters greatly.
The decisions you make and actions you take will define your ability to impact, educate, guide and support others through these times.
And it will set a precedent for the tone and momentum of your own business.
Possibly, you might have noticed yourself thinking “what’s going to happen to my business?” That is TOTALLY understandable, though I implore you to be others-focused.
Your staff need you to give them certainty, and your clients will value the same.
With that in mind, here are some insights that can help you navigate your way forward.
If you’ve not already done, so, call a team meeting and give people an update on your plan. Whether it’s business as usual, business by a remote dial-in. Whatever the case, communication is key.
Facilitate a discussion re any personal needs they might have. Listening to them, getting their feedback and input will be valuable so they know you’re on their side.
Of course, it’s important to set (or maintain) a rhythm around maintaining productivity at work. People like habits, and keeping them focused on tasks at hand is a helpful way to stay mentally present on what matters instead of getting caught up too much in the drama.
Consider reducing your own (and your team’s) time on social media. There’s a lot of negativity with some posts and images, and by lessening your exposure, the less it seeps into the psyche.
If your aggregator has prepared an email to update clients re your ability to continue supporting them, I’d be sending that out pronto if not done already.
Money. I’m not a financial planner, and this isn’t advice, but do consider sharing an app with clients that can help them get a grip on their finances so they can make better (and potentially more rational) decisions re what they spend.
A perennially popular app is Pocketbook (it’s free), but if you want more options, check out this blog post on Mozo for some suggestions.
Talk. Let them know you are open for business and they can contact you and your team at any time. Even if their need isn’t directly related to a loan, the mere act of offering to help can give people more confidence in you and in their options
Appointments. If you’re choosing to do appointments remotely (i.e., via zoom), let people know so they can accordingly. I recorded these videos on how you can set up the tech to make it easy for you and your clients.
Hardship. If clients are experiencing hardship or anticipating that they soon will be, let them know they can talk with their lender and explore options without affecting their credit score
Review. Given the movement with interest rates, it could be opportune to conduct a review and help clients put more cashback into their household
The key theme with the above is to be proactive and to communicate.
Now is the time when Australians need you to be in their corner, so be that person for them.