goal setting presentation - genworth financial€¦ · you want to grow your referral business? add...
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Goal Setting
November 2018
2Goal Setting
Setting GoalsMake Them Motivational to YouMake Them SMART
SpecificMeasurableAttainable / AchievableRewarding / RelevantTime Bound
Write Your Goals DownShare Your GoalsCreate a PlanStick With It
Celebrate MilestonesWork Backwards
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Make Them Motivational to You?What Do You Want
– I want to make a lot of money!!
Make Them Motivational to You
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?Do you know your monthly expenses
?How about– Vacations– Private School Tuition– Your Retirement– Dream Car– Vacation Home– Savings Portfolio– Higher Education– …
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Make Them SMARTSpecific
Measurable
Attainable / Achievable
Rewarding / Relevant
Time Bound
Make Them SMART
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SpecificExample-I need to earn $75,000 a year in commissions
An Average Loan Size is $150,000
My Commission Rate is .70%
Typical Fallout for Withdrawals & Declines is 10%
Goal Setting
Make Them SMART
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SpecificExample-How Can I Make $75,000
A $150,000 Loan @ .70= $1,050 commission per closed loan.
At $1,050 per loan I would need to Close 72 loans
With Withdrawals & Declines I need to Originate 80 loans. 20 loans per quarter. Only 1.5 loans per week!!!!!
Goal Setting
Local Data on the Web
www.city-data.com
www.mybestsegments.com
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12Goal Setting
https://www.claritas.com/MyBestSegments/Default.jsp?ID=20#
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14Goal Setting
Make Them SMARTMeasurable
– Understand your MLO Compensation Policy– Review your Commission Statements
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Make Them SMARTAttainable / Achievable
– Understand and Track the Market
Make Them SMART
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17Goal Setting
Make Them SMARTRewarding / Relevant
– Motivational
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Make Them SMARTTime Bound
Write Your Goals Down
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Share Your GoalsMake Them Public
Create a Plan
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Create a Plan
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Stick With ItCelebrate Milestones
– Acknowledge Your Success– Thank Your Business Partners– Thank those that Support You
• Disclosure Desk• Opener• Assistant• Processor• Underwriter• Closer• Management• Everyone!!
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Work BackwardsNo Place to Start Like Where You Are
Self-Assessment - Strengths
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My Company’s StrengthsMy Strengths
• Decent Pricing
• Great Turn Around Time
• Excellent Processing
• Excellent Location
• Strong Capital Position
Goal Setting
• Know the Conventional and FHA Programs
• Short Sale Expert
• Excellent Negotiator
• Strong Network
• Organized
• Establish Relationships Quickly
Self-Assessment - Challenges
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• Available 24/7
• Slow Typist
• Not into new technology
• No affinity base
My Company’s ChallengesMy Challenges
• Limited Online Presence
• Clear to close takes forever
• Tough on appraisals
• Low capture rate with Realtor Partners
Goal Setting
What Types of Loans Have I Done?
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Total # of LoansTotal $ AmountPurchase %Refi %1st Time Homebuyers2nd Homes+700 FICO ScoreFHAConventionalAffordable HousingShort SalesInvestment PropertyARMs
Goal Setting
Segmenting - Example
GROW PROTECT
STRATEGIZE IMPROVE
Prof
it/Ea
se
Volume
First Time Home Buyers
Refinance
Credit-Challenged Customers
Senior Homebuyers
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My Game Plan
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PIGS Game PlanTotal # of LoansTotal $ AmountPurchase %Refi %1st Time Homebuyers2nd Homes+700 FICO ScoreFHAConventionalAffordable HousingShort SalesInvestment PropertyARMs
PIGS:
Protect
Improve
Grow
Strategize
Goal Setting
Where Do They Come From?
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Source Number
Customers Referrals
Realtors
Affinity
Social Media
Leads from My Company
Leads Group
Goal Setting
Segmenting: After the Game Plan
GROW PROTECT
STRATEGIZE IMPROVE
Prof
it/Ea
se
Volume
Customers from Facebook
ABC Realtors
Bankruptcy Attorney
Leads Group
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Where Do They Come From?
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Source Number PIGS Game Plan
Customers ReferralsRealtors
Affinity
Social Media
Leads from My CompanyLeads Group
Goal Setting
Strategies
Goals
Measurements
Strategy-Tactics
Tactics
Strategy: Where do you want to “play” so to speak? You want to grow your Referral Business? Add more Affinity Partners? Maybe find a way to gain a larger share with that single/renter population? These are all strategies you can use to grow your business.
Goals: In a way, you set the goal when you envisioned your desired customer mix. You decided that you want to increase your Referral Base to 20% - that becomes your goal statement. You could also base a goal around one of your weaknesses.
Measurements: If a goal can’t be measured in some way, it’s really hard to keep it on track and make adjustments. For each strategy/goal combination, you will need to figure out a measurement. Depending on how much work you need to do on each strategy/tactic, the measurements may be incremental, up to the goal vision you had.
Tactics: These are the specific plans you will put into place to achieve your goal.
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Strategies
Goals
Measurements
Strategy-Tactics Alignment - Example
Tactics
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Social MediaCharitable Marketing Campaign
Improve Realtor RelationshipsStrategies
Goals
Measurements
Build Better Business
Tactics
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“Social MediaStrategies
Goals
Measurements
Build Better Business
Tactics
1. Establish a Facebook page, a LinkedIn page and a blog2. Search for existing customers on the sites3. Set up page appropriately4. Create a post to help friends save money5. Thank people for doing business with me
1. Measure # of social media applicants2. Measure # of closed loans from social media3. Number of friends on Facebook
Get 50 new inquiries through social mediaClose 10 new loans acquired through social mediaCreate a database of at least 100 potential customersMaintain contact with database using social media
Don’t limit yourself to the size of the box!
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Charitable MarketingStrategies
Goals
Measurements
Strategy –
Tactics 1. Host a Habitat for Humanity event for my Realtor partners and consumers2. Host a guest bartender event for Bright Side of the Road Foundation
1. Event Accomplished2. Track Money made for Bright Side
Host one charitable event for my customersRaise $5,000 for Bright Side of the Road Foundation
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Improve Relationships with RealtorStrategies
Goals
Measurements
Strategy –
Tactics 1. Host community event in partnership with Realtors/Consumers2. Present programs to help Realtors build their business
1. Track Loan Generation Database2. Track Loan by Realtor and Real Estate Office
50% of all closed loans are from Realtor referral
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Genworth Underwriting Guidelines
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Genworth Rate Express®
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LOS Connections
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Training Tools and Information
Training Tools and Information
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Additional MI Site Information
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ActionCenter®: 800 444.5664
Your Local Genworth Regional Underwriter
Your Genworth Sales Representative
Your Genworth Resources
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Legal Disclaimer Genworth Mortgage Insurance is happy to provide you with these training materials. While we strive foraccuracy, we also know that any discussion of laws and their application to particular facts is subject to individual interpretation, change, and other uncertainties. Our training is not intended as legal advice, and is not a substitute for advice of counsel. You should always check with your own legal advisors for interpretations of legal and compliance principles applicable to your business.
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