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Make This Your Year to Execute

FEB 22, 2013 4:28pm ET

A recent University of Georgia study revealed that less than a third of Americans today establish New Year’s resolutions for themselves. Of those who do make resolutions, only around 20% actually achieve them. In aggregate, that means a small minority 6% of all people set and reach their annual goals. Why so low? It all comes down to one word: execution. The study further exposed that most of those participating in the research who do not set resolutions or personal goals for themselves say it’s because they know they won’t follow through. “Why set a goal for yourself when you know you won’t stay with it anyway,” one survey participant openly shared. Of those who do set goals but fail to achieve them, the biggest obstacle was the absence of execution. Simply put, what they said they were going to do just didn’t get done.
As a mortgage loan originator, you likely have set specific goals (resolutions of sorts) for 2013.
Those goals might include loan production goals, unit goals, income goals, territory expansion goals and more.
Your chances of achieving those goals are directly related to your ability to execute.
Here are “Five Ps” to performance execution that will help you succeed this year:
1. Make it a PRIORITY. A “priority” means something is important. Important things in your business must come first, not last. If, for example, your goal this year is to expand your client base, and you continue to put off activities that could help you expand your client base, you’ll likely fall short on that goal. When a goal is truly a priority, it earns your time, energy and attention every day—and that’s how it gets done.
2. Build a PLAN. A goal without a plan is just a dream. Transfer the goal in your head to a plan on paper and list the specific actions you must take to accomplish it. In doing so, you’ll discover exactly what needs to happen in a logical sequence of steps. And by seeing your plan executed in writing, you might also realize your goal isn’t as complex or as hard to achieve as you might think.
3. Put your intentions into PLAY. A plan is a good start, but action on that plan speaks much louder than words on a page. It’s one thing to say you are going to get more organized or that you want to make more sales calls on real estate agents; it’s another to actually do it. To “execute” means to perform, and if you want to reach your goal, that’s exactly what you must do. Make sure your daily to-do list contains activities related to your goal like “set up one agent appointment today” or “clean out my email inbox today.” Don’t think about it or talk about it or make excuses. Do it.
4. Create a PUSH. Goals will often test you and may even stretch you into new comfort zones. Unless you push yourself to get a little uncomfortable, to step “out of the box” or to take some risks, you’ll likely retreat back into doing the things you feel are safe. When it comes to executing your plan, while others can challenge you and your boss can get behind you for a boost, the real push to perform has to come from you. This is what being a self-motivated loan originator is all about.
5. Focus on the PAYOFF. Every goal has positive payoffs that create tangible benefits for you or your team. Clearly identify what those payoffs are from the very beginning and keep your eyes on the prize. Will reaching your goal bring you more income? Will it mean added referrals or a smoother backshop operation? Every time you think about slacking off on your goal or giving up altogether, remember what’s waiting for you at the end of the journey. That’s what keeps you going.
They say one of the keys to success in any business is to capitalize on your competitor’s mistakes. It’s a fact that many of your competitors will make the mistake of doing a poor job executing this year. They might say they want to grow their purchase loan business or market their databases more frequently, but in reality most will not follow through on any of their goals. If you are among the few originators who executes, you will be among the few originators who succeeds.