Some time ago I used the services of a mortgage broker who in the first instance was very prompt and appeared very efficient. Although it took some time for the refinance to go through (that was caused by the bank and their legal people), all went smoothly.
However, going back a second time to this broker, the cracks in his lack of systems are showing.
I've had to chase him up to get things moving. It appears he now has a lot more business than when I first used his services.
Here's what I've observed:
1. When he's out of his office, the phone rings out (there's no voice mail message or anything). This is a surefire way to lose business.
He could use a virtual assistant, divert his phone to his mobile or have voice mail.
2. He doesn't plan and acts on the spur of the moment. (i.e. when you call, he takes action).
He needs to use a diary to schedule working on his business as well as the daily work. Unfortunately he doesn't understand what working 'on the business' really means.
3. He does everything himself... he has no assistance whatsoever.
With a Virtual Assistant he could pay them for the hours they worked. John would have to work out know what tasks they could do for him.
4. He doesn't know how to market his business effectively, he just keeps running around.
Simple things like sending an ezine or newsletter on a regular basis or a phone call to follow up past clients could have a major impact on his business. (Also see last week's ezine)
5. John invests zero dollars in learning how to run a business. He's always going along to hear about what's happening in his industry (which is often free).
6. He has no clear focus so anytime someone approaches him with a new idea that looks like it will make money, he runs off in that direction.
Writing down his goals and working out what and who he needs to help him achieve them will give him clarity. The man needs a business coach to guide him.
Basically he's spending the majority of his time and money in the wrong areas. He told me he wants to grow his business, but doesn't understand that he has to make changes first in the way he behaves.
Without a clear plan, systems and assistance, he is guaranteed to waste time, lose money and be stressed out! It wouldn't suprise me if one day soon he leaves the industry because he thinks it's just too hard to make money in that type of business.
The Final Word
Personally I find dealing with most business people, very frustrating. They tell you how good they are and will get the job done but the majority are hopeless!
I'm so thankful that I have a small team of people who support me in my business and follow through.
How Poor Systems Lose You Business - To learn more about this author, visit Lorraine Pirihi's Website.
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