We all know that the money we earn in this business is the end result of executing specific activities.  When we initiate more contacts, talk with more people, take more applications and close more loans, we make more money.

But sometimes we lose sight of how activities directly relate to money.  Many loan professionals want to make more money, but are sometimes not willing to execute more activities to get them there.  To look at this as a simple mathematic equation: more money is the direct result of more activities.  Interested in making more money?  Good! Let’s see where we start.

Step one is to establish your own point system based on how you do business.  Here is just one example of a point system as established by a retail mortgage loan officer:

Activity                                Points
Phone-in prospect                      1
Follow up phone call                   1
Appointment set                        2
Client sales visit                          2
Group presentation                    3
Application taken                       3

This originator has established a value to these six activities, indicating that some activities can have a higher payoff than others.  You could do the same.  You may even have more activities you’d like to concentrate on.  Good!  Just remember to choose sales, marketing, networking and prospecting activities that generate more loans.  Things like reading emails, clearing conditions and busy work don’t count.

Step two is to set a point goal to achieve.  In this example, our originator has decided to set a weekly goal of reaching 20 points by Friday afternoon.  Any combination of activities counts, as long as he nets 20 points every week. 

Step three is to create a tracking system.  This could be done on a white board in your office, a piece of paper, just about anything.  The key is to keep it simple and easy to track.  (No need for Excel spreadsheets here!)  The tracking tool must be out in front of you and visible at all times.  One loan officer I met actually uses colored M & Ms.  If our loan officer here adopted her system, he would take two small jars and place 20 fresh M & Ms in jar one.  As he scores points, he moves candy from one jar to another.  As the week progresses, he can visually see the M & Ms emptying from one jar and moving into the other.  His goal would be to transfer all 20 candies by Friday afternoon.

Step four is to measure your success!  At the end of the week, did you reach your point goal?  If not, why not?  What stood in your way of scoring the right amount of points you need to make things happen?  What can you do next week to get back on track?  If you discover you achieved your point goal for the week, celebrate!  Enjoy the fact that you are on track with the right activities that will lead you to more money!  (My friend eats her M & Ms!)

Is it time for you to start making more money?  Then it is time to execute more activities.  Set up a point system, have some fun with your business, and watch how well it works!

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