Well, we made it. A new year. A new decade. The 2010’s are behind us and 2020’s are upon us (sounds weird, doesn’t it?). If your mortgage lending team struggled to hit their numbers in 2019, there’s so many paths you can take to turn it around. But they all start with a clear set of goals. And what makes a great goal? Well we’re glad you asked.
The best goals are SMART- That is, specific, measurable, attainable, relevant, and time-bound. Let’s dive into each of these categories so you can best cover your bases.
Use specific wording. If your goal is to “produce more mortgage leads”, this isn’t a SMART goal because there’s no specific quantity attached to it, and you didn’t explain how you’re going to achieve it. Consider the following example: “I’m going to increase my mortgage leads by 10% through a billboard campaign.”
Like the example shown above, you want to quantify what you’re working towards. You know specifically what you’re working on, and by what percentage you want to improve.
Don’t bite off more than you can chew. Although you want your goal to be ambitious, it can’t be unattainable. Rather than boosting mortgage leads by 1000%, consider aiming for a more attainable goal like 150%, or perhaps a quarterly goal of 20% year over year growth.
Is the goal relevant to your business and the mortgage industry? In this example, it might make sense to change the metric by which you’re measuring your goal. Maybe you did some research and discovered that your business typically gets more focused leads from referrals instead of paid billboard ads.
Stay on track by making sure your goals are time-bound. Putting deadlines on your goals helps you hold yourself responsible. It’s safe to say you could lose sight of your goal if you wanted to increase your mortgage leads by 10% without even giving a timeframe for that objective.
Make this decade special by making goals the SMART way- that is, specific, measurable, attainable, relevant, and time-bound.