So, you want to be a Top Dog ...

Friday, 01 May 2009 15:35

Salary.com calculated that employers in the US spend $759
billion per year on salaries for which real work was expected,
but not actually performed.
American workers, on average, spend 45 hours a week at
work, but describe 16 of those hours as “unproducti ve,”
according to a study by Microsoft .
Marcus Buckingham, the Strengths guru, suggests a more startling
stati sti c. He believes that American workers “do what they do best” only
about 15% of the ti me. The corollary being, “You’re most producti ve,
when you’re engaged in acti viti es that harness your strengths”.
Simple deducti on tells us that there is tremendous waste; but also lift
opportunity in the workforce at large and quite possibly among reverse
mortgage industry professionals.
I have observed hundreds of salespersons, and they fall into one of three
categories:
Puppies Big Dog Top Dog
The canine metaphor aside, these categories connote the three stages of
producti vity. If you want to get to the “next” level of producti vity, read on.
#1 The ‘Puppy’ Producti vity Stage
Puppies are loan offi cers who complete 2-3 transacti ons per month. Their
success indicator is SURVIVAL. They possess an awareness of “what they
get paid to do”…originate loans, but struggle with the basic requirement
of creati ng tracti on. The questi on, “How do I become more eff ecti ve?”
haunts them.
Their goal is to meet the minimum performance standards of their fi rm,
but don’t enjoy the perks of economic success. They’re “getti ng by.”
For the record, some LO’s are very happy living life as a ‘Puppy’. There’s
nothing wrong with being a Puppy.
‘Puppy’ Producti vity Key: More DOING and Less KNOWING
“Doing” acti viti es for the “hunter” salesperson involve prospecti ng, while
for the “gatherer” salesperson it’s follow-through. “Knowing” acti viti es
include the basic requirements of delivering a cogent sales presentati on
and proper completi on of the applicati on paperwork.
If you’re stuck in ‘Puppy-hood,’ here’s my prescripti on for progress. “Give
it the gas.” You must bring more energy to your business. Concentrate
on “doing more” rather than “knowing everything”. Quit trying to “fi x the
company,” and hit the streets. Purchase a head-set and get on the phone.
Who cares that you know all the answers, if you’re never able to share
them with someone other than your wife, signifi cant other, or mom?
Want to get twice the work done in half the ti me? Who doesn’t?
Let’s start with one simple thing you can do right now to get 2 hours worth of work done in 30 minutes.
Here’s one “doing ti p” that is awesome.

DOING TIP…Set a deadline.
Tell yourself you only have 30 minutes to get your task done. Once you
do, your brain takes over and fi nds a way to compress the ti me it used to
take and get the job done.
Psychologists call this the “ti me compression phenomenon”. Give it a try.
#2 The ‘Big Dog’ Producti vity Stage
‘Big Dogs’ fund 4-7 loans per month. They’ve mastered the
“eff ecti veness” dimension of the reverse business and are now exploring
opportuniti es for “effi ciency”. They give valiant eff ort and have perfected
the core competencies of their craft .
The economics become much more favorable for salespersons in this
category. Multi ply your average take-home commission by 5, and what
do you have …$5000 or $7500 or $10,000+? Become a ‘Big Dog’ and
you’ll have money to market.
The success indicator for ‘Big Dogs’ is MOMENTUM. They have it. “The
harder they work, the more they make.” More eff ort equals more
producti vity.
Big Dogs blend acti on and insight. Doing and Knowing.
‘Big Dog’ Producti vity Key: Balance DOING and KNOWING
One of the scariest decisions that I can recall from my LO days was the
decision to focus on a niche. Rather than att empti ng to be all things
to all people, I decided to focus on the professional advisor market. I
channeled all of my B2B marketi ng energy toward Elder Law att orneys
and Certi fi ed Financial Planners.
The benefi ts were instant and obvious. I became well versed in the
dialects of those two niches. I was able to ask insightf ul diagnosti c
questi ons and craft powerful “value added” components to my marketi ng
calls. I became a “known quanti ty” among those niches. I wrote more
business.
BALANCE TIP…Ready, Aim, Shoot
Our industry has changed dramati cally over the past 24 months. The
days of “Ready, Shoot, Aim” are done. The “low hanging” fruit is gone.
Big Dogs recognize the necessity and power of KNOWING….knowing
themselves and their market.
My success was built upon a foundati on of “fi t”. I have a fi t mantra, which
is…
“If you don’t understand them when they speak, and they don’t listen to
you when you speak, you’re not a fi t.”
Infuse focus and intensity to proper directi onal fi t, and you’ll enjoy Big
Dog performance.
#3 The ‘Top Dog’ Producti vity Stage
Top Dogs generate 8-10+ deals per month. They att end “incenti ve
trips” and their spouse never asks, “When are you going to make some
money?” They have fi gured out the business…moved up the “food
chain”. Life is good.
Top Dogs are few and far between. Don’t believe me? Ask around.
“Everyone who is funding 10+ loans a month raise your hand.” My
anecdotal esti mate, based upon my experience and recent conversati ons
among industry leaders, is that the Top Dog populati on is 5% of all LO’s.
Very select company, wouldn’t you agree?
But, defi nitely att ainable.
Their most profound diff erenti ator is their commitment to systems and
process. It’s not that they have an assistant or a CRM. It’s what they do
with the assistant and CRM. They possess a laser like market focus and
commitment. And they are persons of response.

I recently spoke with Don Graves, a Top Dog at Financial Freedom, and invited
him to listen in on a training webinar. In the session, I unpacked the “how
to’s” of reaching the Realtor niche. Within two weeks, Don sent me a note
announcing his parti cipati on at a Greater Philadelphia Realtor Expo. He was
invited to be the reverse mortgage expert voice. Why? Because he took
what I off ered in my session, and immediately acted upon the insight. That is
a classic Top Dog response. They KNOW when and how to respond to good
input.
The success indicator of Top Dogs is the PREDICTABILITY factor in their
business. They enjoy a dimension of certainty every month because they
employ processes consistently.
It’s never a “one and done” type of approach. They have the resources to stay
in the game; and they are creatures of good habits.
What’s the most powerful success ingredient on the planet?
Aristotle, Napoleon Hill, and Steven Covey would all agree.
It’s habit.
If you think about it, you’ll see that this is true.
Brush your teeth every day and you’ll prevent most caviti es. Don’t brush, and
your teeth are likely to rot.
You don’t think about brushing your teeth. Why not?
Because, it’s a habit.
KNOWING TIP = create bett er habits
What if you could establish habits that virtually guarantee outrageous
business success?
It’s prett y obvious that you can - otherwise there wouldn’t be any millionaires
or billionaires on the planet.
The questi on is, are you?
Whether you know it or not, you’ve already established a set of habits that are
either making you richer or poorer, and the eff ects of those habits are felt by
you every minute of every day.
Remember Covey’s 7 Habits

1. Be Proacti ve. Take responsibility for your atti tudes and acti ons.
2. Begin with the end in mind. Start with a clear desti nati on to understand
where you are now, where you’re going and what you value most.
3. Put fi rst things fi rst. Manage yourself. Organize and execute around
prioriti es. Things which matt er most should never be at the mercy of
things which matt er least.
4. Think Win Win. This thinking begins with a commitment to explore all
opti ons unti l a mutually sati sfactory soluti on is reached.
5. Seek fi rst to understand, then to be understood. Understanding builds
the skills of empatheti c listening that inspire openness and trust.
6. Synergize. This is the habit of creati ve teamwork.
7. Sharpen the saw. This is the habit of self-renewal. Preserving and
enhancing your greatest asset, yourself, by renewing the physical, social/
economic, mental and spiritual dimension of your nature.

Finally, Note the progression from Puppy to Big Dog to Top Dog.

• More Doing and Less Knowing
• Balance Doing and Knowing
• More Knowing and Less Doing

Apply a simple lens to your business, and accelerate your move to the next
level.

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Dedicated to the Reverse Mortgage Industry!