Start the New Year right:
Life as a mortgage broker and business owner can start to get a little difficult around the holidays. Most are likely to keep working through the break. At least 43% of small business owners admit they will tend to significant work over the break, and a further 37% also plan on taking electronic devices away on holidays so they can attend to emails and calls.
The first thing to talk about is how important downtime is. Often there’s not an off switch for small and new business operators, but recharging your batteries, and connecting with loved ones, friends and family is just as important as sleep.
This is a time to re-evaluate your business – its direction and focus, its make-up and outgoings, and its next steps. Happiness at work is crucial to a successful business so use this time to consider your expectations and your workloads – are they realistic, are they what you want? Where could they be better focused?
5 Things Australian Financial recommends to get your 2023 off to the right start.
1 - Communication
Like all relationships, communication is key. Begin the new year with plans for thorough and proper communication with your clients. It’s at these times that many people start to think about refinancing. Be front of mind by communicating regularly and being part of the process. Use this time to start locking meetings with your clients that happen in the new year.
2 - Planning
Don’t come back to the new year not knowing what to expect. Use quiet times to plan the business strategy for Q1 of the business. Clean and update databases, set meetings, and outline your work and personal development. What will that mean for 2023?
3 - Self-education
What is the one thing your business is missing but would like to add or do more of? Some mortgage brokers write loans they’re comfortable with while letting great opportunities in other areas pass them by. Consider providing loans for commercial finance and SMSFs. Expanding in these territories can lead to better, stronger and diversified income streams for your business.
Use your downtime to become familiar with new subjects, and spheres of interest and explore the potentialities of expanding into new businesses or partnerships.
4 - Visit clients
Perhaps an extension of communication, but the personal touch is not to be dismissed. Making time to connect on a direct level can give very different insights into clients and their intentions, often more forthcoming and explicit when face-to-face. Listen, discuss and prepare your advice – this could mean more business or referrals to new clients. Always make time for a cup of coffee for a client.
5 - Take time for yourself
As business owners, we know that the chances of taking a completely clean break over the holidays are unlikely. The important thing to remember is to make the time work for you.
Work on yourself and your plans and don’t forget that downtime is essential.
"Thanks to smartphones, tablets and cloud computing, work is now something you do, not somewhere you go. Taking a break and spending time with friends and family is essential for maintaining a positive work-life balance,” says Regus’ Asia Pacific Director.
Don’t get burnout. This is your business after all and the importance of genuine motivation cannot be understated, so the ability to find meaning and purpose and let yourself recharge is crucial.
Being dedicated to your job is commendable, but instead of working yourself through the break, use the time to educate, learn and refocus. Think about the corners of the industry you’d like to investigate further, to make more of or channel. Use the break as an opportunity to reinvigorate and recharge before returning 2023 with an energy and focus that could change the trajectory of your business for the better.
Find happiness, balance and success and get yourself ready for the new year. Make 2023 work the way you want.