How much of your current annual bonus is outside your control?
Find out how you can take the control back.
If you work for a bank or other financial institution there’s a fair chance that one or more of the following may apply to you …
Constantly changing incentive models?
Just when you’ve built up a solid operating rhythm to achieve your hurdles and secure a bonus - the rules change.
Reliance on others to hit your numbers?
Team KPIs affecting your individual bonus potential can be frustrating - particularly when other team members are not as committed or focused as you are.
Year on year target increases? (out of step with your local market)
Sometimes the target setting process is only focused on the revenue growth needs of the company and doesn’t take local market conditions into consideration.
These and numerous other factors can sometimes make it challenging to be the master of your own destiny each financial year.
So what are the alternatives?
Deciding to become a self-employed mortgage broker can sound daunting initially when you consider the move away from a guaranteed salary and in-house business referrals. When you look more closely however, there are many advantages to becoming a Broker – including some you may not have considered …
No more daily commuting means greater productivity
The choice to run your business from home could mean there is no more time spent in the car or on public transport to get to and from work in peak hour traffic.
Although you’ll have travel time spent on client visits, the hours you could immediately claim back from your previous commuting arrangements can be spent far more productively.
More control over your time
Although it would be naïve to think you’ll replace your full time salary by working part time hours, you do have complete flexibility around when you work.
Maybe you could drop off / pick your children up from school every day instead of the occasional one here and there – it’s entirely up to you.
Build an asset for the future
As you settle more loans, you build up ongoing trail payments for the life of these loans. Over time, the accumulation of these ongoing trail payments can become considerable and can form an asset which may be sold for significant value.
Although you’re working for yourself – you’re not on your own
When deciding to become a Broker, choosing the right aggregation partner is critical to both your initial and eventual success. In the first two years, the level of support you get to help with your business planning, marketing programs, on-line and social media strategies and business process set up is critical. The commission structure you receive from your aggregator is also very important.
With 20 years of market insights behind us, Choice Home Loans understands the transition into broking and has developed a specific support model to fast-track the process.