Establishing your Volume and Unit Goals
Let’s start at what’s important. Your income. When you establish your volume and unit goals don’t just pick arbitrary numbers. Base it on what you want to make. Don’t fall into the trap of saying “well I did X this year so I should do Y next year because that is more.”
This is the biggest mistake people make when setting a goal because there is nothing motivating you to achieve it. Halfway through the year if you’re not on pace you say “oh well” and you don’t even care that you didn’t hit your goal. In reality it kind of de-motivates you which is the opposite of the purpose of having a goal. Pick the amount of money you want to make in 2019 which is the framework for everything else.
Establish your averages and fine tune your numbers: You need to establish your average loan amount, your LO comp for 2019, The number of total leads/inquiries you had, your percentage of inquiries to funded loans. Run a report for all funded loans, run a report from your database/CRM to determine how many leads you generated/received for 2018.
Click here to download a copy of this spreadsheet
Set up your spreadsheet and back into the numbers:
- First Spreadsheet is the Production Goals Spread Sheet
- Second Spreadsheet is the Referral Partners Spreadsheet
Set up your monthly and quarterly goals that are not production based. This means how many potential partners you have to call, how many meetings you need to have and give yourself a timeline to finish these.
Using our spreadsheet, if you want to add 7 referral partners in the next 90 days you need to have 30 meetings. Establish what you are going to do to have this # of meetings and get this many new referral partners on board. Maybe the number is crazy. Like you need 110 meetings in 90 days. Well, then it’s time to re-adjust your goals slightly so you can actually obtain the goals.