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The key to breaking this cycle lies in a deliberate shift towards productivity and process optimisation, as discussed in the latest episode of Business Accelerator.
Here, host Alex Whitlock sat down with industry mentor and trainer Jason Back to decode the mysteries of broker efficiency. The conversation revealed that reducing the hours spent on each file isn’t just a pipe dream – it’s an achievable goal with a structured approach.
The first step to improvement is understanding your current reality. Back emphasised the importance of a “time and motion study” to establish a baseline.
He urged brokers to figure out how long it takes to process a “normal file” and then break it down.
“[Find out] how long it takes you to process, measuring your client appointments, measuring how long it takes to do diary notes, a credit submission, order evaluation, order pricing, put it into apply online, get that stopwatch going and get your understanding of where you are today,” said Back.
Industry averages can range from 7–9 hours for simpler files to 15–18 hours for more complex ones. By getting a clear, honest picture of where your time is going, you can identify the areas with the greatest potential for savings.
A major hurdle for many professionals is the internal battle between the “planner” and the “doer”.
This conflict is exacerbated by a world of constant distraction, from email pop-ups to phone notifications. The goal is to complete what matters most, not what screams the loudest.
To assist, Back provided a clear, five-point framework for brokers to immediately enhance their productivity:
- Plan with purpose: Move beyond reactive firefighting. Acknowledge the planner and doer within you and create a symbiotic relationship between them. This means setting intentional goals for your day and week, rather than just responding to the noise.
- Create a daily rhythm: Identify whether you’re a morning person or a night owl and structure your day accordingly. Back is a massive proponent of time blocking.
- Systemise and process map: You can’t improve what you haven’t mapped. Have a clear, end-to-end process for everything – from lead generation to post-settlement.
- Delegate like a pro: For brokers with support staff, this is non-negotiable. Your highest value is in front of a client, giving expert advice.
- Measure what matters: Create a simple dashboard with three to five key performance indicators (KPIs) that you review weekly.
Whitlock added a powerful, simple tip from his own experience: conduct a time diary.
Back agreed, noting that a simple Excel spreadsheet or a piece of paper is all you need to start. This initial data is the foundation for making informed decisions about how you allocate your most precious resource: time.
Efficiency isn’t about working harder – it’s about working smarter. By auditing your time, implementing purposeful planning, and building robust systems, you can significantly reduce the hours spent on each file.
This not only increases your capacity, but also frees you up to focus on the high-value, strategic work that grows your business and increases profitability.
The journey to a more productive and profitable broking business starts with a single, honest look at how you spend your day.
[Related: Business Accelerator: The 5-point productivity framework to get time back]
