Balancing work, life and everything else
Profile 05 – Business as a Young Professional
The MFAA produced an eBook as a resource to support their mortgage broker members as they navigate running a business with a work/life balance that allows them to succeed.
Important: For a copy of this valuable eBook: Contact Sue Hayter
eBook Contents
🛑Profile 01 – Managing a family run business
🛑Profile 02 – Managing work-life as a regional broker
🛑Resilience – your mindset, reset
🛑Profile 03 – Running a business as a single parent
🛑Profile 04 – Managing a business with a disability.
🛑Taking CARE of your team
🛑Profile 05 – Business as a young professional
🛑Profile 06 – Managing a business with two working parents
🛑Further resources
“The results and respondent comments from the 2020 survey, which coincided with the COVID-19 pandemic and the introduction of new regulations for brokers, highlighted that many of our members were experiencing difficulty with time management, managing their work-life balance and generally remaining resilient in difficult times.
We’ve produced this eBook, Balancing work, life and everything else, as a resource to address these concerns and support our members as they navigate running a business with a work/life balance that allows them to succeed. It’s filled with tips and advice from a range of successful broking business owners from different walks of life, different business sizes and different stages of business growth.
We asked them about the biggest challenges they’ve faced in running a successful broking business, strategies they’ve employed to overcome these challenges and their advice to other brokers facing similar situations. We hope this resource assists you in effectively managing both your business and a balanced lifestyle.” The MFAA team.
Profile 05 – Business as a Young Professional
Extract from the MFAA Wellbeing eBook.
“You need to pay it forward – you have to be investing in your networks pretty early – it might not pay off now, but it will over the next five years.” Tommy Lim – SF Capital Group.
Tommy was first introduced to the proverb listening to a podcast by famous American podcaster Jordan Harbinger and says it is a good reminder of just how important networks are for business success. “Gone are the days of being able to wing it in this industry and figure it out as you go,” Tommy said. “You need to pay it forward – you have to be investing in your networks pretty early – it might not pay off now, but it will over the next five years.” Tommy says there are many ways to accelerate networking – he spent three nights a week networking in the early years of his business which is paying it forward now in terms of the clients and business opportunities that have subsequently come to him.
“You think paying $100 for a networking event is expensive when you are first starting out, but I paid that investment to turn up and meet people I didn’t know but it does come round,” he said. Ironically, a lack of networks was the one thing that first propelled Tommy into mortgage broking after initially wanting to be a financial adviser but deciding against it because he just didn’t have the right client base at that stage of his career. He first connection to mortgage broking came while working in an administration role at a mortgage broking business when he was studying law and commerce at university.
When he later started his own mortgage broking business, he learnt the importance of surrounding himself with good Business Development Managers (BDMs), having a solid support network and investing in ongoing professional development. “I was fortunate that when I was starting my business, I had some BDMs that really helped me out,” Tommy said. “You will find BDMs that you connect with and when they back you and you return that with loan volume – that becomes a virtuous cycle that helps you get to the next level.” Managing people Having clocked up eight years as a broker, Tommy is now somewhat of a veteran of the industry but admits that there have been many important lessons along the way.
Probably the biggest one for him was learning how to effectively lead people. “I was a really bad manager early on because you impose on others your own expectations, but you can’t expect people to be like you,” Tommy said. “You have to be able to speak someone else’s language – you have to be able to empathise and put yourself in someone’s shoes to then find whatever gets them going and really use that to help the business achieve its goals.”
More valuable Topics:
👉 Invest in professional development
👉 Be a risk-taker
👉 Mentoring your team
👉 3 Top Tips from Tommy
👉 For a copy of this valuable Wellbeing eBook: Contact Sue Hayter
Contact Award-winning expert mortgage broker mentor, coach and trainer Sue Hayter for more information about becoming a mortgage broker. www.melbournemortgagebrokermentor.com.au
Love Your Life❤️
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