December 2018 - Half year results are in......
And the half year results are in!
We have now been trading for six months and I have set some lofty goals for the business on launch. As far as income is concerned I want to achieve a turnover of £160K for our first year which is a monthly income a slight nudge above £13K a month. I appreciate that going public with such a statement is maybe not what a lot of businesses do but I want to share our journey in the hope that it may help inspire others as they take their first steps into ownership. We have managed to pull in a shade over our target but given the fact that we are taking the insurance commission on the drip, I am please with our first 6 months effort. I am confident that we can move forward in the third quarter.
Catherine Letford, my PA has worked tirelessly since launch. Following my switch from law to finance, she has been a constant source of sound advice and knowledge. She has an ease with clients but also a bit of a bite when we need to get lenders to move a little bit quicker. A great combination!
The drive to get a consistent flow of work is something that I have been working on. A dripping roast is something that every broker is looking for. What we need to be careful of is not spreading ourselves too thin. Creating trust is the most important part of any relationship whether it be with an introducer or indeed a client. We are working with a couple of organisations to see if we can establish a working relationship and more of that to follow as we head into the decisive third quarter of the year.
The biggest news of course is that we have now secured premises on Crow Road. One of my BNI chums is doing the refurbishment and we have great plans for the new place. We are going for an open plan feel with a central meeting room with full glass doors. I am trying to think of an alternative way that I can interact with my clients - a coffee shop meets mortgage broker vibe! We expect to be open for February and I'll keep you updated with progress over the next month or two.
My planners arrived from Brendon Burchard. One of the most important things that I have incorporated into my schedule this year is a planning period before I start my day and a review before I knock off work. This consists of sitting down for 30 minutes or so at the start and end of the day going through my email, identifying and prioritising my day and working out what I need to do tomorrow and what achievements I have accomplished that day. Time blocking is now a daily occurance where I concentrate on a particular task until it is finished no distractions - it has been a game changer. Coupled with a weekly review it is something that I wished I had done from an earlier stage in my career.
Matt Donnelly of AD+ has been an inspiration through out the whole process and his words of wisdom are constantly wirring around between my ears. "Always have an end in mind. Always be thinking about how you are going to exit the business. What is the strategy? With this in mind my thoughts in the next two quarters is looking to take on another adviser. Onwards and upwards.
Oh, I almost forgot. We finally pulled in £80,144 for the half year end!