By Gary Opper
Build Your Mortgage Business g B s
Approved Financial Corp.
Discover the skills necessary to create a successful company
Building a successful business is always a challenge. Many skills are required to reach the daily
and long-term goals of growing a prosperous company. Commercial mortgage
brokers must always look for ways to
hone their skills and knowledge.
The following are some hallmarks of
a successful businessperson and a successful business.
Planning is critical to the success of
any organization. Without planning,
employees can’t be expected to know
which direction to work toward. Spend
time writing a formal business plan, as
well as a plan for your own career path.
By creating action plans, you can ensure the direction best suited for you
and the company.
Part of planning is setting goals. Be
sure to make goals for your own career
as well as for your company. Setting
goals encourages employees to work
hard because they have defined expectations. Make goals realistic so you and
your employees feel they are attainable.
When employees have clear goals,
they have a much better chance of
everything we want. Be sure to pinpoint
the most-important needs of each deal
as well as those you can do without. This
will help you know when to continue negotiating and when to walk away.
Communication skills also are important in every relationship. Having an
open dialogue with your employees
and colleagues will make them feel
comfortable enough to come to you
with issues or concerns. Make sure
you’re approachable. Implement an
open-door policy so everyone knows
they can enter and talk freely.
Communication also requires good
listening skills. You want your employees to know you hear their problems
and appreciate their questions. Listening to your employees will make them
feel you have their best interests at
heart and can help them address important issues.
You also should have a good grasp
on the spoken and written word. You
must communicate effectively to other
businesses as well as to your clients.
Find local classes that can help with
public speaking, grammar, spelling
Being a good leader is important, but
it can be hard to quantify. Try to be a
good leader at your job, in your industry and in your community. Get involved
and learn how to be the best leader in
all areas of your life. There are numerous leadership-training seminars that
can help enhance your managerial
skills and provide you with a greater
ability to assist your employees.
Although you want to spend time planning and learning to lead your company, one of the biggest problems
people face is a lack of time. Individuals often have too much to do and too
little time to accomplish it. This makes
them feel overwhelmed, and the harder
they work, the further behind they feel.
It’s important to step back regularly
and take stock of all necessary tasks.
Use the five D’s to help you figure out
what is most advantageous for you to do:
2. Don’t do
Time is your most precious resource.
Evaluate your activities so you can
make the most of each minute and every day. Organize what you must do
first, second, etc., and identify unnecessary tasks.
Illustration: Jim Frazier/Stock Illustration Source
Delegation is an important skill to
master in terms of time management.
You can’t face every task yourself, so
it’s important to delegate certain activ-
ities. Decide what tasks are beneficial
for you to do and which tasks can be
handled by others.
Instances will arise when an employee
surprises you with an idea that provides a solution to an ongoing problem. Someone might even find a way to
accomplish a task better or faster than
current practice. Keeping an open mind
will help colleagues and employees
feel their suggestions are appreciated
and make a difference.
Keeping an open mind is equally important when unforeseen issues arise.
Not everything will go by the book or
go your way, so you must be flexible
when problems occur. Don’t be so regimented as to eliminate leeway when
plans change. In any business, unexpected things happen, so give your
schedule wiggle room.
Day-to-day problems require flexibility, but there also may come a time
continued on page 32 »
There must be give and take in any relationship, including business relationships. Negotiations will be required.
Handle them on a case-by-case basis
and accept them as a necessary part of
Take some classes and seminars that
help with negotiation skills. Read articles or books on negotiation.
Remember: We don’t always get
Gary Opper is president of Approved
Financial Corp., a licensed mortgage lender
in Weston, Fla. Opper has been a mortgage
lender and note buyer since 1984. He is
the managing member of Levie-Opper LLC,
a mortgage-fraud litigation-support company. He is a certified public accountant
and a certified financial planner. Opper is
past president of the Florida Association
of Mortgage Professionals, Miami Chapter,
and the Florida Institute of CPAs, Gold
Coast Chapter. Reach him at (954) 384-
4557 or Opper@ApprovedFinancial.com.