So, you want to be a
Top Dog ... Monte Rose
DOING TIP…Set a deadline. Tell yourself you only have 30 minutes to get your task done. Once you do, your brain takes over and finds a way to compress the time it used to take and get the job done. Psychologists call this the “time compression phenomenon”. Give it a try. #2 The ‘Big Dog’ Productivity Stage ‘Big Dogs’ fund 4-7 loans per month. They’ve mastered the “effectiveness” dimension of the reverse business and are now exploring opportunities for “efficiency”. They give valiant effort and have perfected the core competencies of their craft.
aalary.com calculated that employers in the US spend $759 b billion per year on salaries for which real work was expected, b but not actually performed.
The economics become much more favorable for salespersons in this category. Multiply your average take-home commission by 5, and what do you have …$5000 or $7500 or $10,000+? Become a ‘Big Dog’ and you’ll have money to market.
A American workers, on average, spend 45 hours a week at w work, but describe 16 of those hours as “unproductive,” aaccording to a study by Microsoft.
The success indicator for ‘Big Dogs’ is MOMENTUM. They have it. “The harder they work, the more they make.” More effort equals more productivity.
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Marcus Buckingham, the Strengths guru, suggests a more startling statistic. He believes that American workers “do what they do best” only about 15% of the time. The corollary being, “You’re most productive, when you’re engaged in activities that harness your strengths”. Simple deduction tells us that there is tremendous waste; but also lift opportunity in the workforce at large and quite possibly among reverse mortgage industry professionals. I have observed hundreds of salespersons, and they fall into one of three categories: Puppies
Big Dog
Top Dog
The canine metaphor aside, these categories connote the three stages of productivity. If you want to get to the “next” level of productivity, read on.
‘Big Dog’ Productivity Key: Balance DOING and KNOWING One of the scariest decisions that I can recall from my LO days was the decision to focus on a niche. Rather than attempting to be all things to all people, I decided to focus on the professional advisor market. I channeled all of my B2B marketing energy toward Elder Law attorneys and Certified Financial Planners. The benefits were instant and obvious. I became well versed in the dialects of those two niches. I was able to ask insightful diagnostic questions and craft powerful “value added” components to my marketing calls. I became a “known quantity” among those niches. I wrote more business. BALANCE TIP…Ready, Aim, Shoot
#1 The ‘Puppy’ Productivity Stage Puppies are loan officers who complete 2-3 transactions per month. Their success indicator is SURVIVAL. They possess an awareness of “what they get paid to do”…originate loans, but struggle with the basic requirement of creating traction. The question, “How do I become more effective?” haunts them. Their goal is to meet the minimum performance standards of their firm, but don’t enjoy the perks of economic success. They’re “getting by.” For the record, some LO’s are very happy living life as a ‘Puppy’. There’s nothing wrong with being a Puppy.
Our industry has changed dramatically over the past 24 months. The days of “Ready, Shoot, Aim” are done. The “low hanging” fruit is gone. Big Dogs recognize the necessity and power of KNOWING….knowing themselves and their market. My success was built upon a foundation of “fit”. I have a fit mantra, which is… “If you don’t understand them when they speak, and they don’t listen to you when you speak, you’re not a fit.” Infuse focus and intensity to proper directional fit, and you’ll enjoy Big Dog performance.
‘Puppy’ Productivity Key: More DOING and Less KNOWING “Doing” activities for the “hunter” salesperson involve prospecting, while for the “gatherer” salesperson it’s follow-through. “Knowing” activities include the basic requirements of delivering a cogent sales presentation and proper completion of the application paperwork. If you’re stuck in ‘Puppy-hood,’ here’s my prescription for progress. “Give it the gas.” You must bring more energy to your business. Concentrate on “doing more” rather than “knowing everything”. Quit trying to “fix the company,” and hit the streets. Purchase a head-set and get on the phone. Who cares that you know all the answers, if you’re never able to share them with someone other than your wife, significant other, or mom? Want to get twice the work done in half the time? Who doesn’t? Let’s start with one simple thing you can do right now to get 2 hours worth of work done in 30 minutes. Here’s one “doing tip” that is awesome. 16 16
Big Dogs blend action and insight. Doing and Knowing.
#3 The ‘Top Dog’ Productivity Stage Top Dogs generate 8-10+ deals per month. They attend “incentive trips” and their spouse never asks, “When are you going to make some money?” They have figured out the business…moved up the “food chain”. Life is good. Top Dogs are few and far between. Don’t believe me? Ask around. “Everyone who is funding 10+ loans a month raise your hand.” My anecdotal estimate, based upon my experience and recent conversations among industry leaders, is that the Top Dog population is 5% of all LO’s. Very select company, wouldn’t you agree? But, definitely attainable.
Their most profound differentiator is their commitment to systems and process. It’s not that they have an assistant or a CRM. It’s what they do with the assistant and CRM. They possess a laser like market focus and reversereview.com commitment. And they are persons of response.