In our new fortnightly broker diary, two WA newbies share their experiences of running a brokerage
In our new fortnightly broker diary, two WA newbies share their experiences of running a brokerage
Phil Barton and Natalie Duong began Aussie Warwick last year. In the the first of 12 exclusive diary entries they talk about the personal and professional challenges of running a new brokerage.
We now finally feel like fully-fledged business owners.
So our first six months of trading now draws to a close, a period full of anticipation and excitement coupled with some trepidation and a little fear of what was to come. Every waking moment during the planning and construction phase of the store was occupied with questions of how to drive our own business, where would our client base come from, just when would we have our very first walk in client and when would we employ our receptionist and first broker?
My wife and I had been career bank fodder for more years than we care to remember and first decided to take the step of becoming contracted mobile mortgage brokers with Aussie. After enjoying our first few years the natural evolution of this role meant that we identified the real opportunity in mortgage broking would be to own a retail store and what better way to do so than as a franchise under the leading mortgage broking brand in Australia.
As proud parents of a freshly painted, newly designed and polished store both my wife and I opened on day one in eager anticipation of the hordes of clients bursting our doors down to seek salvation in a better mortgage lending experience with two highly organised professionals. We quickly realised that to make an absolute success of being self-employed we needed a strategy, planning and an open mind when listening to those who offered advice. It simply isn’t enough to open the doors of a flash looking store and expect the masses to be hammering the doors down.
So six months on and what do we think? I wish I had embarked on this endeavour 10 years ago. As a business we started off a little green and got by on the benefit of having multiple clients walk through our doors from day one thanks to the brand. Most were good but not all, so you have to keep prospecting for the gold. We had to plan a store opening with 70 clients, business partners and the founder of Aussie, John Symond in attendance, and without a comprehensive plan in place we wouldn’t have pulled off a wonderfully warm and friendly blessing of our store.
So with that in mind we began to formulate a strategy in earnest, look for like-minded people and discuss ideas, look for business referral partnerships and approach them with the confidence of having credibility from investing in ourselves. Then deliver. Deliver on service like never before. Offer them something that no bank can provide - accessibility, options, and a trusted second opinion. Make the client feel safe, make them feel special and above all else give them full consideration of what they actually want now and, importantly, in the future.
When I wake in the morning for the first time in my life I can honestly say I love going to work.
Phil and Natalie will be detailing their experiences every other Friday on MPA Online and in Australian Broker magazine two weeks following. You can find Aussie Warwick's website here.
Phil Barton and Natalie Duong began Aussie Warwick last year. In the the first of 12 exclusive diary entries they talk about the personal and professional challenges of running a new brokerage.
We now finally feel like fully-fledged business owners.
So our first six months of trading now draws to a close, a period full of anticipation and excitement coupled with some trepidation and a little fear of what was to come. Every waking moment during the planning and construction phase of the store was occupied with questions of how to drive our own business, where would our client base come from, just when would we have our very first walk in client and when would we employ our receptionist and first broker?
My wife and I had been career bank fodder for more years than we care to remember and first decided to take the step of becoming contracted mobile mortgage brokers with Aussie. After enjoying our first few years the natural evolution of this role meant that we identified the real opportunity in mortgage broking would be to own a retail store and what better way to do so than as a franchise under the leading mortgage broking brand in Australia.
As proud parents of a freshly painted, newly designed and polished store both my wife and I opened on day one in eager anticipation of the hordes of clients bursting our doors down to seek salvation in a better mortgage lending experience with two highly organised professionals. We quickly realised that to make an absolute success of being self-employed we needed a strategy, planning and an open mind when listening to those who offered advice. It simply isn’t enough to open the doors of a flash looking store and expect the masses to be hammering the doors down.So six months on and what do we think? I wish I had embarked on this endeavour 10 years ago. As a business we started off a little green and got by on the benefit of having multiple clients walk through our doors from day one thanks to the brand. Most were good but not all, so you have to keep prospecting for the gold. We had to plan a store opening with 70 clients, business partners and the founder of Aussie, John Symond in attendance, and without a comprehensive plan in place we wouldn’t have pulled off a wonderfully warm and friendly blessing of our store.
So with that in mind we began to formulate a strategy in earnest, look for like-minded people and discuss ideas, look for business referral partnerships and approach them with the confidence of having credibility from investing in ourselves. Then deliver. Deliver on service like never before. Offer them something that no bank can provide - accessibility, options, and a trusted second opinion. Make the client feel safe, make them feel special and above all else give them full consideration of what they actually want now and, importantly, in the future.
When I wake in the morning for the first time in my life I can honestly say I love going to work.
Phil and Natalie will be detailing their experiences every other Friday on MPA Online and in Australian Broker magazine two weeks following. You can find Aussie Warwick's website here.
