We have been mentoring brokers for a few years now and we've seen people enter the industry from a wide variety of backgrounds.  We have seen many enter the industry part-time, with others leaping in feet first.

Here are a few observations which I have made over this time.

1. For those thinking to enter the industry full-time, please ensure that you have the financial resources to see out 1 full year with little or no income.  This doesn't meant that you won't make money in the first year.  BUT, it does give you a safeguard and allows you to proceed without the stress or pressure of having to replace your income immediately.  Remember that this business is built over time and the major benefits come from having built a solid client base and a long term trailing income. 

2. For those who are entering part-time, set yourselves goals and targets to where you can leave your current employment and start full-time in this field.  While we are mentoring you, we will help you to meet these goals.  But without those goals, we've seen many brokers who exist in a limbo between their day job and their broking business.  Yes, working in your business to get loans approved is important, but you need to spend time working ON your business, in order to get it to a position where you can take it to the next level.

3. The most successful brokers we have mentored are those who are open to new ideas and are willing to put themselves Out There.  The role of the mentor is to help you to find ways to grow your mortgage broking business, but all of our coaching and suggestions are useless unless they are acted upon.  Take yourself out of your comfort zone and find new opportunities.  Socialise, network and meet people - this is how you grow your business - with people.

4. CUSTOMER SERVICE.  Your clients should come first every time.  Look after them, keep in contact with them and don't wait for them to call you.  Create a successful partnership with them and they will stay with you and they will then recommend you to others.

On the last note, I'll be updating our forum tomorrow with some insights from some Customer based research myself and several others undertook recently and it has some amazing insights. 

That's all from me today - my customers await.