As a commissioned salesperson, your time is money.  But not all of your time is spent making money.  There are emails to read, meetings to attend, product descriptions to study, computer problems to fix and documents to copy.  People who make a lot of money in commissioned sales, like loan originators, know how to balance their time between money-making activities and everything else.  Do you?

• Marketing your database
• Making follow-up calls
• Sales visits with real estate agents
• Taking loan applications
• Mailing offer letters
• And more

Spend some time constructing this list, and be sure that you are sure every item on it leads directly to a referral, a new relationship or another loan opportunity.

Now that you have your “Money List,” post it where you can see it every day.  It will serve as a visual reminder of how you can increase your income.

If you are an organized, proactive loan originator, it is likely you start your day with a to-do list.  From now on, as you build your to-do list for the day, glance at your Money List.  Ask yourself: “What am I going to do today that will make me money?”  Be sure to include at least two or three money-making activities on your to-do list every day.  Yes, you have team meetings to attend and compliance tests to take and files to package and emails to read and all sorts of other things that are a part of being a good orig-inator, but remember: these things are necessary but non-profitable.  You make NO money doing them.  (News flash: if you spend all of your day doing things that make you no money, you’ll make no money.)  This may seem trivial to point out, but I am convinced that the reason why so many loan originators are making so little money today is simply because they spend little or no time doing the things that make them money.

So now you have a to-do list of your daily activities that includes two or three money-making tasks.  Good for you!  But now you must execute.  It is all too com-mon for originators to plan money-making activities in their days…and never do them.  They place those money-making activities last on their lists, fill their day with tons of busy work, and as a result the real money-making stuff gets put off, or never gets done.  If you are serious about making more money, you should do the money-making activities first in your day, not last.  This will ensure they get accomplished.

If you want to start earning more money month after month, the solution is not lower interest rates or better loan products or a larger commission spread.  The real solution to making more money is spending more time every day in activities that make you money.  If you understand that simple concept and live by its principle, you’ll grow your income by leaps and bounds.

Power Selling
is a monthly publication of
Douglas Smith & Associates.

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The editor of Power Selling is Douglas Smith.
Please direct any comments or input to 877.430.2329.
© Copyright 2010 DS&A. Reproduction in whole or in part by any means without written permission of the editor is prohibited.

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Cory Ure     |2010-07-16 08:07:17 I like the idea of a "money list" and asking myself every morning "What am I going to do today to make money?" It's too easy to get caught-up in the daily grind of "doing" but not doing what really needs to be done to make money.

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