Chapter 2 - Growing Your Business
Build Strong Routines and Expand Your Reach
01. Get Organised Now
Good habits form the foundation of a successful advisory career. From your first day, master your tools: create Trail activities, maintain a To‑Do list, and track every task meticulously to avoid missing critical deadlines.
Stay responsive even when busy. Prepare SMS templates for missed calls and set up voicemail via services like VXT (transcribes messages for quick triage). Use synced reminder apps—Google Tasks, Any.Do, Apple Reminders—to ensure nothing slips through the cracks.
02. Heuristics—Learning Through Experience
Heuristics are your shortcuts: the "rules of thumb" built from handling mortgages repeatedly. After every client meeting, review what went smoothly and where you hesitated. If you couldn’t clearly explain something, spend 15 minutes researching so next time, you can confidently guide your clients. This reflection and refinement cycle is how expertise is forged.
03. Full‑Time vs. Part‑Time Advisory
Mortgage advising demands full‑time focus. In your early months, the majority of your time goes into marketing and networking—not just applications. Part‑time advisers often take twice as long to build momentum and struggle to deliver the responsiveness clients expect. If you want to grow quickly and keep client satisfaction high, commit fully to the role.
04. Managing the Emotional Rollercoaster
The self‑employed life comes with peaks and valleys. One week you may close several deals, the next may be quiet. It’s normal.
To navigate slow periods, try:
A 10‑minute walk
A full day off
Reaching out to new contacts or potential referrals
You’re not alone: everyone at Mortgage Lab experiences ups and downs. The key is recognising the low spots and pushing through by re‑energising your outreach and networking efforts.
05. Advice from Experienced Advisers
Veteran lenders share these truths:
Many client interactions won’t lead to immediate remuneration—but persistence pays.
Bank policies change constantly; expect 20% awareness and steady updating.
No two mortgages are identical—each scenario is unique.
Learning happens in the trenches—embrace the process.
Add every contact to Trail—even if they’re not ready now. They’ll receive newsletters and stick in mind.
Don’t wait—notify your network as soon as you switch careers.
Deadlines drive the industry. Be quick with communication and responses.
06. Shared Office or Co‑Working
If home isn’t your ideal workspace, consider shared office spaces ($600/month approx). They bring:
Better Wi‑Fi for smooth online meetings
Networking opportunities
Structure and routine
Access to printers and scanners
Labs like Servcorp, BizDojo, Generator, and The Crate are worth exploring in urban centres.
07. The “Power Hour” Start to Your Day
Claim your first hour daily for effortful focus—no distractions, just efficiency.
Setup: Phone off or in airplane mode, open email, Trail, To‑Do list, calendar, and nothing else.
Structure:
Emails (20 min): Sort into urgent, normal, low. Use delayed sends to stay ahead.
Trail/To‑Do (10 min): Prioritise and update tasks with clear titles.
Urgent Tasks (25 min): Tackle what needs immediate attention.
Break (5 min): Step away and reset.
Strict timing keeps urgency high and prevents distraction. Tip: if you struggle, prep the night before.
08. Second Hour—Opportunity Generation
If client opportunities are low, dedicate the second hour to proactive outreach:
10-minute prep: Identify discussion points (bank policy changes, market trends, Māori interests).
20-minute calling blitz: Reach out to incomplete applications, past clients, lost leads, or COIs.
25-minute emailing: Send value-added shareable content—blogs, videos, tools.
Finish with a summary: Log notes in Trail and schedule follow‑ups. Keep it efficient and personal.
09. Marketing on a Budget
Resourceful marketing wins:
Car wraps ($1.5–2k) offer mobile advertising that more than pays for itself.
Business cards: free from Mortgage Lab—hand them out liberally.
Entertaining COIs: host a weekly coffee ($100/week = 50+ quality meetings/year)—more return than online lead generation.
10. Own Your Local Area
Be a familiar face:
Door‑drop flyers every two weeks—without headphones on—to start conversations.
Advertise on local noticeboards.
Volunteer for charity collections to meet neighbours.
Join suburb Facebook groups—contribute advice, don’t sell.
Wrap your car with branding—be the go‑to mortgage adviser in your patch.
11. Smart Social Media Use
Use social platforms to show your expertise—be strategic, not salesy:
Keep financial advice on email for audit tracking.
Avoid politics or controversial topics.
Link clients to Mortgage Lab blogs.
Set alerts for your name (Google Alerts, Mention.com).
Keep LinkedIn polished—it’s a networking engine.
Try tools like Dux‑Soup to gently engage COIs by automating profile visits—it nudges their awareness and keeps you front‑of‑mind.
12. Live‑Streaming
This is your chance to speak and build credibility live:
Use StreamYard to broadcast across platforms (Facebook, YouTube, LinkedIn).
Pick timely topics—rate changes, LVR updates, buyer trends.
Co‑host with a COI or colleague to ease pressure.
Bring high energy: smile, be a bit brighter than normal.
Even with few live viewers, your stream archives for future reach.
Use disclaimers (“not personalised advice”) and test run beforehand.
Schedule two sessions this month—and you’ll raise your profile in no time.
13. Business Plan & Goal-Setting
Your plan spans a full year in two parts:
Part 1 (for lenders): set annual income targets, monthly application goals, and complete a SWOT analysis.
Part 2: map out network growth—your COIs, referral plans, and outreach cadence.
Set weekly application targets:
Year 1: 1/week
Year 2: 2/week
Year 3+: 3+/week
We track applications over income—because commissions lag by months, focusing on activity ensures momentum.
14. Quarterly KPIs
Mortgage Lab’s minimum standards:
1st year: no minimum commission requirement.
2nd year+: $20k gross commission per quarter (averaged over 3 quarters).
Underperformance prompts a supportive review, considering pipeline and context.
15. Overcoming the “Bog of Despair”
Around months 2–3, when the enthusiasm dips, use this checklist:
Revisit your business plan
Contact top COIs
Book coffee meetings
Re‑engage past opportunities and clients
Clear overdue Trail activity
Find networking events
Share your business page on social media
Activate Dux‑Soup searches
Refresh your LinkedIn profile
This re‑energises momentum and removes drift.
16. Track Your Time with Toggl
Track two weeks each quarter to reveal where your time really goes:
Setup projects (e.g. Admin, Networking, Mortgage Processing), log diligently, then analyse.
Ask:
Are you hitting application targets?
Surprised by your productive hours?
Could video calls reduce travel time?
Can you delegate admin to a VA?
Time tracking brings awareness—and awareness drives improvement.
Alternatives like Excel trackers or point‑based activity logs can work too. Choose what suits you—but track something.
17. Overcoming Call Hesitancy
No one likes cold calls, but front-footing it is essential. Try:
Commit to “call blocks” (e.g. 2–3pm).
Write numbers on paper—no scrolling.
Pause every 30 minutes to reset.
Frame calls as prospecting treasure rather than chores—your next goldmine could be one dial away.
Remind yourself: every call might lead to the next big opportunity.
18. Nurture Your Client List
Your current and past clients are your greatest referral source. The best brokers:
Send regular updates
Follow up at settlement and 3‑month intervals
Connect on social media
Provide genuinely helpful advice
A caring approach wins trust—and inspires referrals. Aim for every client to think: “No one else told me that.”
19. Closing Clients
Even warm leads need a nudge. Once trust is built, ask directly:
“Would you like to book a meeting so I can explain how this works?”
Mortgage advising is built on clear communication, calm professionalism, and persistence. Earn the meeting—and everything else follows.
20. Use a Virtual Assistant (VA)
You don’t need to do everything yourself. Our VA team offers:
Sending follow-up emails
Diary and meeting note drafting
Completing forms (e.g. structure, refix)
Organising documents and PDFs
Use clear voice instructions via Voxer, one client at a time. Define task scope and deadlines. Dictate diary notes immediately after meetings—even rough drafts help. Your VA can tidy and finalise.
Glossary Quick-Reference
Familiarise yourself with common acronyms like A&D, BDM, CCC, COI, DRS, LOO, LVR, RVR, Trail CRM terms, and more. A glossary is included for easy lookup.
APPL – Approved Product and Provider List
BDM – Business Development Manager
CCC – Code of Compliance Certificate
COI – Centre of Influence
CRM – Customer Relationship Management software (Mortgage Lab uses Trail CRM)
DRS – Dispute Resolution Scheme (Mortgage Lab uses FDRS)
DTI – Debt to Income Ratio
FAP – Financial Advice Provider (License holder)
FA – Financial Adviser (must be attached to a FAP)
FRR – Fixed Rate Request
FSPR – Financial Service Provider Register
LOO – Letter of Offer (of Finance)
CLO – Conditional Letter of Offer
FLO – Final Letter of Offer (unconditional)
LVR – Loan-to-Value Ratio
NTB – New to bank
PI – Professional Indemnity Insurance
RVR – Registered Valuation Report
Apply these principles consistently, and you’ll build momentum, resilience, and a thriving advisory business. As always, Mortgage Lab is here to guide you every step.