Attention is everything when it comes to growing your Note Business. What you actually focus your time, effort, and energy on tells a lot about your priorities. As a note business owner, there are so many things demanding your attention and at the end of the day it can be really easy to get overwhelmed when you are pulled in so many different directions. And as humans, the saying “the squeaky wheel gets the grease” is very accurate.
You may have fifteen important tasks on your to-do list, but when you get a call from a title company detailing items required to clear title or an issue, the other items fall to the wayside while you divert your attention to the problem in front of you. Even when the issue at hand isn’t really imperative to your growth or your bottom line and could likely be dealt with by someone else or at a later time. Therefore, today I wanted to write about how your attention (or lack thereof) is everything when it comes to your note business growth and share some ideas on how to have a laser focus when it comes to important matters in your note business.
Attention equals priorities. The things that you pay attention to in your note business says everything about your priorities as a note professional, business owner and as a company. It is the value hierarchy of what you want to get done, the things that you have on your quarterly action plan or even priorities for the week or month. If by chance your goal this quarter was to get your vendor relationships (appraisers, title companies, servicers, etc.) on a better footing, and improve your pricing and delivery issues from those vendors then the above issue would take precedence over everything else on your list.
But if your goal this quarter was to improve your conversion rate or improve your customer service response times (to return a call, reply to an email, respond to an online message, etc.), then the time spent with the vendor wouldn’t be nearly as important as if you had used that time to learn, train and practice improving your closing ratios and response times. And in fact, you would be slowing down the growth of those areas in your business by taking time away from them to deal with the vendor issue. Which is why it is so important to write down your priorities for the week, month and quarter and refer back to the list often to stay on track.
Consistency is key. Where you pay attention, where you actually focus your time, effort, and energy on any given day or week, tells a lot about your priorities and your team will often follow suit. Because sometimes your behavior is very different from what you’re stating on your action plans or big rock reports.
The very best business leaders focus on the things that they say they will. The two are congruent one with the other, and I want to encourage you to look at where your attention lies and take a hard, honest look at how you handle distractions inside your business.
Are you consistent? Do you stray often or contradict yourself when directing your team of vendors on their focuses for the quarter? If so, that should be the first thing you start focusing on to grow your business faster and help your team do the same. Be kind, keep safe and stay healthy. Remember success demands action, keep on marketing, it’s going to work! TWITA! (That’s What I’m Talkin’ About!)
Jeff Armstrong of Armstrong Capital has been a note investor specializing in the performing seller financed note industry since 1991 as well as a professional appraiser of promissory notes since 1999. For more updated and current information on how he can help you with your note business, note investments, note appraisals or to request pricing options on a note visit www.armstrongcapital.com to email him and subscribe to Jeff’s Weekly Training & Tips Newsletter. You can follow him on Instagram and Facebook @TwitaJeff