The fourth chapter of Aussie Warwick's journey looks at why they've brought on a new team player sooner than expected.
Phil Barton and Natalie Duong began Aussie Warwick last year. Over 12 exclusive diary entries they talk about the personal and professional challenges of running a new brokerage.
Less than 12 months since opening the doors at Aussie Warwick we are now looking to our future growth and development, and the next milestone is to recruit another mortgage broker.
Did we always factor team expansion in our plans? Yes.
Did we think it would be within the first 12 months? No.
We have had to bring it forward so we can keep up with the volume and growth of the business, which is great. Experienced as we both are in financial services, recruitment is a field that we definitely cannot claim to be experts in, though we already successfully expanded our team when we employed Kelly, our fantastic support member from outside the industry.
So with recruitment back on the agenda we are questioning how we recruit someone that will be the right fit whilst bringing their own skills and personality? Also, once we have recruited how do we then retain our growing team in such a competitive industry?
Hiring the right people is crucial to businesses success. The process does not simply begin with interviews and end with a job offer. As business owners we need to consider key aspects of the vacant position prior to advertising, interviewing and selecting new employees. In doing this we have drawn from our own personal experiences, and the successes and mistakes we have made along the way. Both Natalie and I would say without hesitation that neither of us are the same broker that first joined the industry with the banks many years ago. I am a firm advocate that to achieve success you must also experience challenges from which to learn.
In addition to the hands on coaching and mentoring from us, our new broker will receive Aussie’s extensive training and support in marketing, credit, MFAA accreditation, and access to our broad panel of lenders.
What else can we offer as an employer, and what should we highlight in our ad?
The panel of lenders that we use at Aussie is diverse without being overwhelming, and when filtered with the Aussie Toolbox system it enables the broker to have an honest and extensive discussion about the client’s needs and requirements. It also encourages efficiency from the broker, important from any employer’s perspective.
Practical tools are great to have but another area of support that I firmly believe is essential is the support from our lenders’ Business Development Managers (BDMs). This is what makes the relationship between the broker and the lender an even better experience all around and has the potential to create a strong advocate for that lender.
To allow me to place the reputation of Aussie and our business in the hands of a new employee it is certainly made easier when I have such a wide variety of supporters and assets to lean on.
Growing our team has happened a little earlier in our journey than anticipated, but we have met our initial goals, have a responsible team in place, and have the potential market place from which to take our business to the next level.
This is an exciting next stage to move towards, a little scary at the same time, but necessary to achieve our professional and personal goals and to maintain new business acquisition and growth in the future.
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.
Previous diary entries:
Diary of a new brokerage #1 “There are no shortcuts”
Diary of a new brokerage #2 "Our location is the foundation of the business"
Diary of a new brokerage #3: Build relationships within
Less than 12 months since opening the doors at Aussie Warwick we are now looking to our future growth and development, and the next milestone is to recruit another mortgage broker.
Did we always factor team expansion in our plans? Yes.
Did we think it would be within the first 12 months? No.
We have had to bring it forward so we can keep up with the volume and growth of the business, which is great. Experienced as we both are in financial services, recruitment is a field that we definitely cannot claim to be experts in, though we already successfully expanded our team when we employed Kelly, our fantastic support member from outside the industry.
So with recruitment back on the agenda we are questioning how we recruit someone that will be the right fit whilst bringing their own skills and personality? Also, once we have recruited how do we then retain our growing team in such a competitive industry?
Hiring the right people is crucial to businesses success. The process does not simply begin with interviews and end with a job offer. As business owners we need to consider key aspects of the vacant position prior to advertising, interviewing and selecting new employees. In doing this we have drawn from our own personal experiences, and the successes and mistakes we have made along the way. Both Natalie and I would say without hesitation that neither of us are the same broker that first joined the industry with the banks many years ago. I am a firm advocate that to achieve success you must also experience challenges from which to learn.
In addition to the hands on coaching and mentoring from us, our new broker will receive Aussie’s extensive training and support in marketing, credit, MFAA accreditation, and access to our broad panel of lenders.
What else can we offer as an employer, and what should we highlight in our ad?
The panel of lenders that we use at Aussie is diverse without being overwhelming, and when filtered with the Aussie Toolbox system it enables the broker to have an honest and extensive discussion about the client’s needs and requirements. It also encourages efficiency from the broker, important from any employer’s perspective.
Practical tools are great to have but another area of support that I firmly believe is essential is the support from our lenders’ Business Development Managers (BDMs). This is what makes the relationship between the broker and the lender an even better experience all around and has the potential to create a strong advocate for that lender.
To allow me to place the reputation of Aussie and our business in the hands of a new employee it is certainly made easier when I have such a wide variety of supporters and assets to lean on.
Growing our team has happened a little earlier in our journey than anticipated, but we have met our initial goals, have a responsible team in place, and have the potential market place from which to take our business to the next level.
This is an exciting next stage to move towards, a little scary at the same time, but necessary to achieve our professional and personal goals and to maintain new business acquisition and growth in the future.
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.
Previous diary entries:
Diary of a new brokerage #1 “There are no shortcuts”
Diary of a new brokerage #2 "Our location is the foundation of the business"
Diary of a new brokerage #3: Build relationships within
