Have you ever noticed how much you get done just before you leave for vacation? That’s because you ruthlessly eliminated anything that wasn’t critically important for that one day.
Time management is a myth. Time doesn’t stop. There is no managing something you can’t control. What you can do is eliminate your wasted movements to become more efficient and effective.
There was a study done where fortune 500 CEO’s were asked how much time they actually spent “working”, that is to say, how much time they spent on tasks that directly effected their bottom line. Most replied that they spent less than 45 minutes a day on actual work. The rest of their day was spent in meetings, answering emails, addressing employee challenges, or on the phone handling nonbusiness related BS, to name a few common distractions.
Examine how much time YOU actually spend performing tasks which put money in your bank account, whether it be selling a loan, getting a referral, or whatever other action you can directly attribute to a paycheck. If you’re lucky, you may be able to account for an hour or two at most per day.
If you made $150,000.00 last year while only effectively working an hour a day, five days a week, 50 weeks out of the year, then your income is actually $600 an hour, or more precisely, $10.00 a minute.
As you sit in your office staring at your screen or talking on the phone, ask yourself, is what I’m doing at this moment worth $10.00 a minute? If not, see if you can think of a way to eliminate, systematize, or outsource that activity so you can focus on tasks that actually make you money.
Here are some examples of how a mortgage professional might outsource or systematize their daily activities:
1. If you’re answering the phone, for instance, consider using an answering service. I use Patlive.
2. Instead of cold calling, try direct mail. Don’t chase prospects. Send them a letter and the interested ones will call you. You can sit back in your chair and cherry pick the loans you want. I recommend my Brian Dead Easy Mortgage Marketing Program for sales material.
3. Don’t waste valuable time calling prospects who haven’t returned their signed application package. Use my systematized approach in my Lost Borrower Campaign.
4. And finally, the cherry on top, use the ultimate mortgage CRM to track everything from outbound marketing, inbound calls, sales pipeline, referrals, follow up correspondence, you name it it does it system. All you have to do is logon and your tasks for the day are laid out in front of you. No brain work whatsoever!
Eliminate the wasted movements and focus on increasing your time on the activities that make you money. You’ll find you have plenty of time left over for enjoying your life.