Let’s crunch some numbers, shall we? On average, you’re earning somewhere in the region of £1,200 per case, which, by all accounts, takes about six hours of your expertise. Quick maths here – that’s a cool £200 per hour. Obviously, the client is paying for your years of wisdom rather than your time, but the numbers don’t lie.
Now, here’s the kicker: you can hire a top-tier administrator for the modest sum of £15 to £20 per hour. If you’re spending your £200-an-hour time on tasks that could be done by someone else for £15 to £20, well, it’s a bit like using a gold bar as a doorstop. Functional, but extravagantly inefficient.
By bogging yourself down with admin tasks, you’re essentially valuing this work at your professional rate. And it gets worse. As you’re trying to fit admin work around client meetings, you can’t possibly guarantee a consistent, high-quality service. Certainly not at the level a full-time administrator could achieve, especially backed by a decent CRM system and defined process to follow.
Now you can blame the fact that you haven’t fully sorted things out in the office and don’t have the time to train a new member of staff. Setting the systems is a one-off task that then frees up your time forever. And when it comes to training the staff member, get them to write their own operations manual as they learn. They can then take responsibility for keeping it updated as efficiency changes occur. The added benefit is, if they don’t live up to expectations or a second administrator is required, training starts from a more advanced position.
Delegate to an administrator
Delegation is paramount. It’s not just about the economics; it’s about making your work life more enjoyable. Let’s face it, filing paperwork and managing schedules doesn’t exactly scream ‘thrill of the chase’, does it? Offloading these tasks allows you to focus on what really gets your gears turning – providing top-notch mortgage advice.
In conclusion, as a professional mortgage advisor, all your time should be spent in front of clients, potential clients, introducers, or potential introducers. Anything else equates to a massive pay cut. If you’re not writing business, you should be generating business, that’s how you maintain the high-quality workload.
Hiring an administrator is not just a smart financial move, but also a step towards a happier, less cluttered professional life. Remember, the goal is to work smarter, not harder. And let’s be honest, who doesn’t want a bit more time to enjoy the fruits of their labour without the headache of admin work? So go on, make the savvy choice, and watch as your business (and your spirits) soar.
