More than 800 brokers took part in The Adviser’s Business Accelerator Program 2020, run in partnership with HashChing.
Jason Back, director, Broker Essentials hosts the 2020 Business Accelerator Program
Across three afternoons, brokers from across Australia attended The Adviser’s first-ever virtual event, to learn the key structures, tools and processes to follow to create value in their brokerages and ensure that they continue to build a business that can stand the test of time.
Leading mentor and business coach Jason Back from Broker Essentials was the epitome of how disruption in business is no barrier to success and growth as he harnessed technology and new ways of working by remotely presenting to brokers via the virtual portal, all while in lockdown in Melbourne.
In the first day of the program (held on Tuesday, 25 August), the Broker Essentials director outlined what makes a business valuable and why it is important to not only have business plans and strategies for writing loans, but also to increase the value of their business in the long run. By detailing an eight-point valuation plan, Mr Back also emphasised that having good data and having good record-keeping systems was intrinsic to a strong business operation.
Mr Back differentiated what being busy and being productive looks like and laid out the most common derailers of productivity. He concluded by recommending brokers undertake an energy and time-saving audit to identify what their time-sapping activities are.
The former GM of leading brokerage The Australian Lending & Investment Centre also revealed effective business planning and key physical and behavioural tools that brokers need to embrace to ensure success.
While behavioural and planning tools are key for a healthy business, the mental and physical health of the broker behind the business is paramount. As such, the managing director of gold partner the Finance Brokers Association of Australia (FBAA), Peter White, outlined practical wellness tips for brokers and their teams, emphasising the importance of understanding the mental and emotional stress triggers that can overwhelm individuals.
In the second of three half-day workshops, brokers were given the blueprint for success in terms of the technology tools they can be using to free up time, automate cumbersome processes and keep them front of mind with their clients.
In a session partnered and introduced by Pepper Money, Broker Essentials director Jason Back discussed how to target the clients that brokers want using technology and both face-to-face and digital channels, including the top three tips around the voice of customer, a frictionless experience and reimagining what the future could look like.
Mr Back also unpicked the essential nature of a broker client relationship management (CRM) system and the tools and platforms that they can be embracing to work alongside their existing CRM systems. Giving brokers a 12-point exercise on what makes a great CRM from a broker’s point of view and what should be in their tech toolbox to help them achieve their business roadmap.
In the final session of the day, HashChing CEO Arun Maharaj and NSW state manager for Mortgage Choice David Ewens discussed the top technology that brokers can use and provided first-hand insights into how technology is making brokers work more efficiently. The two panellists also revealed the apps and tech tools they utilise in their day-to-day operations to help them work more productively.
In the final day of The Adviser’s first-ever virtual Business Accelerator Program 2020, Broker Essentials director Jason Back and our event partners showcased the best practices and tools available for good lead generation and marketing. He was joined by broker marketing specialist Sarah Barnett, from Social Broker, who unveiled the things she had learned over her years of marketing broker businesses – and what good practice looks like.
The event also zeroed in on lead generation. Mr Back started off by explaining the sales pipeline and the five areas: attract, retarget, nurture, relationship and loyalty. After demonstrating the plethora of options available to brokers, Mr Back also advised brokers to lean on their aggregators and specialists for support in this area.
In the final session of the day, brokers heard from event partners HashChing, Pepper Money, Prospa and Mortgage Choice as they answered a Q&A session on how brokers can lean on the services provided by them to reduce headaches and save time. By providing case studies and templates to brokers, the partners highlighted how much speciality help is at their fingertips.