For this week, MPA brings you the industry's thought leaders - Gerard Tiffen, on his biggest challenge and how he tackled it.
Each week MPA brings you advice from the industry's thought leaders on their biggest business challenge and how they tackled it. This week we speak to Gerard Tiffen, managing director of Tiffen & Co.
- What has been one of your biggest challenges in business to date and why?
My biggest challenge has been and will always be culture. Creating the right culture within our group is always very important to me.
- How did you overcome this challenge?
Hiring the right people is always the first step. Once you have the right people you need to communicate with them on a regular basis - tell them how they are going, good or bad.
- What are some of the key lessons you learnt from this experience?
A good culture is one that allows you to be honest with each other, I’ve learnt people need to feel safe and trusted and communicating on a regular basis with them helps achieve this.
You need to create a culture that supports goals and rewards success. Have plans and share them with everyone.
Also, forget about experience. I’ve learnt that being a good person who’s passionate and is willing to learn is so much better than someone that has 10 years’ experience and is only doing it to pay the bills.
Finally, FIFO (fit in or F@&* Off) my coach always told me if your passion isn’t theirs, replace them.
- How have those lessons benefited you in business since?
I wanted to have the best mortgage broking business in the country and I shared that with everyone and we all have bought into this goal. We have monthly goals, quarterly goals, annual goals and a three year plan - and there is no point me keeping it a secret. We share with each other and support each other in our journey.
- What advice would you give to other brokers facing a similar situation?
Work hard. You can’t say ‘do this' or 'do that’ if you’re not willing to lead by example. I try to be one of the first people in every morning and one of the last home. I do back-to-back appointments all day and I chase business. We call our clients with updates, we do birthday calls, we do annual reviews... I think the culture would be a lot harder to create without this.
