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Setting the Right Goals to Build Your Mortgage Business

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The intention of every business is, typically, to grow the business’ success over time. But even with that intention, many businesses and individuals don’t know (or use) the necessary tools to accomplish this. If you want your business to succeed, you need to set goals. Only once you’ve set clear goals can you work consistently to attain the success you want. Goals help you determine the terms — each milestone you want to reach, the funds and resources you’ll need to get there, and the plan of action you’ll need to put in place. By plotting out what you want to achieve, you can have more control over the direction you move in and create the best path to get there. Here are a few ideas to set the right kind of goals to build your mortgage business:

Clearly Define Them

You can’t afford to be vague when you create your business goals. ‘I want my mortgage business to be successful’ is probably not going to get you very far because there are no specific terms to hold you accountable. Vague goals can also be discouraging because they don’t have measurable terms to chart your progress. Instead of setting large, general goals, utilize the S.M.A.R.T. goal strategy. It will help you create goals that are Specific, Measurable, Attainable, Relevant, and Time-bound (More on that, here). Be specific in defining the goals you set, create ways to measure your progress, make sure that these goals are attainable and relevant to what you want for your business, and have a timeframe in place to accomplish them.

Set Both Short- and Long-Term Goals

Setting long-term goals is important, but it’s also smart to have some short-term goals that you can achieve sooner. For instance, maybe one of your short-term goals is to increase sales over the next month — you can break that down even more with daily and weekly goals to work toward. Don’t forget to balance your long-term vision with practical actions you can start taking right away.

Start With an Easy Goal to Accomplish

Beginning with a goal that is easy to accomplish can help create forward momentum. Success begets success, so once you’ve plucked the ‘low-hanging fruit’, you can move on to something more challenging. This kind of domino effect can boost morale and encourage greater growth and positivity.

Get Input from Your Team

As you develop your goals, it’s helpful to stay connected with your colleagues and everyone else in the workplace. Seek out the input of your team members on what needs to be improved so you can set the goals that make the most sense for the business.

 

By focusing your energy on the right kind of goals, you create a path toward accomplishing them.

 

If you’re considering a move, we have some terrific opportunities for loan officers, sales managers, and branch managers that I’d love to discuss with you.

Don Riggs

VP – Retail Market Leader

NMLS 132702

303.249.8274

Don.riggs@cardinalfinancial.com

https://www.donriggs.com

Disclosure.

This is not an advertisement pursuant to 12 C.F.R. 1026.2(a)(2). This is informational, recruiting material intended for mortgage professionals only and is not for distribution to consumers or prospective applicants for residential mortgage loans. Cardinal Financial Company, Limited Partnership, NMLS ID 66247, is an Equal Housing Opportunity Lender. Corporate Address: 3701 Arco Corporate Drive, Suite 200, Charlotte, North Carolina 28273. Licensing information can be found at: https://cardinalfinancial.com/nmls-licensing/.