As we move deeper into 2019, it’s wise to take a moment to check-in on your progress. Are you crushing your numbers or are you hitting a slump? If you haven’t yet set specific sales goals for yourself this year, perhaps now is the time to do so. If you did create some at the start of the year, consider evaluating those goals as well as your progress towards them. These types of check-ins can make the difference between a record-breaking year and a mediocre year. Whether you’re evaluating existing sales goals or designing new ones, here are some tips to help you create and achieve them:
Assess your current numbers
Have you been keeping track of your numbers? If not, now is the time to start. Look back on your progress so far. The only way to know where you need to improve is to reflect on your past sales performance and determine your weaker areas. Take a look at things like the number of leads and clients you have as well as the number of successful closings you’ve had in a set time period. Track how many pre-approvals and appointments you’ve made as well as how many credit reports you’ve pulled in a given month or two. You should determine your first-submission approval rating and your average loan-cycle length. Only then can you really gain a true assessment of your progress and from there, create the kind of goals that fuel improvement and achievement.
Compile a list of achievable goals
Once you understand where you’re at and where you want to improve, it’s time to create goals with intention. If you already have a list, assess how they’re working for you so far. Have they been motivating you or not so much? If they’re lacking, I suggest revamping them. These sales goals should be attainable yet challenging. They should help you get to where you’d like to be with your mortgage business. The S.M.A.R.T. method of creating goals can help. It stands for setting goals that are specific, measurable, attainable, relevant and time-bound — ones that are typically more successful.
Make sure these goals you’ve set are challenging enough. Of course, you don’t want to set impossible goals. This will inevitably leave you discouraged or overwhelmed. But know that if the goals you’re striving to reach lead to some resistance, that’s a good sign. This resistance fuels your future growth. There’s a balance to be had between setting goals that are utterly unrealistic and setting goals that are too easy, and finding that sweet spot is key.
Redefine those small steps
If you haven’t outlined the specifics of how you’ll crush your sales goals, start mapping them out. If you have, check in to see if you’ve started tackling these smaller steps. This is about determining the daily work necessary to achieve your larger goals. What will you need to do, and when will you need to do it? All of these tactics and small daily steps are what will move you closer to your goals.
Remember your why
It’s easy to get caught up in the day-to-day tasks and forget your why. Your why is the core reason you choose to work as a mortgage loan officer. It’s the reason behind creating motivating sales goals. When it comes to these goals, it helps to determine why you want to achieve them in the first place. Are you trying to impress someone else, or are you aiming to improve for your own fulfillment? While outside factors and people can be motivating, it’s usually better to find that internal motivation. Especially when it comes to maintaining momentum towards achieving your goals. Maybe your why relates to pleasing your clients and the satisfaction gained in making life easier for others. Once you know your why, use it to motivate your striving towards your sales goals.
Half the battle of reaching your sales goals is creating the right ones from the beginning. You’ll likely encounter obstacles and distractions, but having the right reminders and small steps lined up can provide the path to refocusing your attention and drive. These seemingly small steps forward can lead to the major progress you want for yourself and your mortgage business.