The Law of Continuous Process Improvement begins with the concept that a plan is needed in every area of your business and your life. But every plan requires continuous analysis and adjustment to find the way forward. Even basic task need a plan and a process of continuous improvement.
Let’s start with a very basic plan: When my older brother began to drive and maintain a wallet for his driver’s license, I heard our father say, make a habit/plan of only placing your wallet and keys in one location and you will never lose them. If you don’t, you will constantly lose them and waste time trying to find them.
Makes sense right? I learned by example and followed my father’s advice. The best lessons are lessons that someone else learned at their expense that you could put into practice. Do you agree?
In the mortgage business, any business for that matter, there are a number of basic processes that must be developed for the business to become a business and not a complicated job. Conversely, imagine for a moment the axle, the spoke, the tire, and for simplification the engine providing power for the movement of the vehicle.
Now imagine yourself the person benefiting from the system that generated the advancement that began with the engine that transferred power to the axle, etc.
This example asks you the question: Would you prefer to be the device that spins the most (the axle) or at the other end of the spectrum, the person benefiting from the system/process that allows you to accomplish a goal without spinning around like crazy?
If you are like me, you really only want to wake up every day, open your bank account online to see money that was deposited directly into your bank account without you doing anything. But, since that doesn’t work, without a process that has been put in place to accomplish that goal, you must develop a system that allows you to create the most money with the least effort. Get the point?
So how do you do that? Previously we discussed the concept of listing all of the areas of your business that need a process. Did you do it? If so, the visual of seeing these items taped to your wall has now allowed you to begin to prioritize and visualize the next steps. These details must be placed in writing in order to be placed into the process. Don’t skip this step.
Yes, but you say, I work alone. It’s just me. Well even more you need a process for everything too. That may be why you are working alone and can barely afford yourself.
I want you to begin the development of process with the most basic element of your business. How are you going to communicate with your consumers and your referral partners? Will you force all calls to a voice mail? Will you return calls when you get around to it?
Will you develop a process that notifies these critically important callers of your plan, your process for communication? Or will you set expectations that you can deliver?
What can you agree to? Return calls between this hour and that? Return calls by the end of the next business day?
Regardless of the plan you put in place, you need a plan. Calls that are not returned, within the expectation of the consumer/referral partner is the No. 1 complaint I believe that you have. The No. 1 reason your business is not as successful as it should be.
Homework: Determine your policy for communicating with your consumers/referral partners. Then by Monday communicate the policy, set the expectation for the caller that he can expect. And then, do it.
I recommend establishing specific times, phone appointments, for 50% to 90% of your calls. In this way, you and the caller have an appointment to speak at a particular time. This process communicates to the consumer/referral partner that you are a person of significance and you take your time and their time seriously.
You will be surprised by the response. This simple basic process will improve your life and increase your business.
More next time.
Joel Pate is an entrepreneur and founder of multiple successful companies in the mortgage, real estate, and marketing space. For more information on Joel, contact him at
