Jason Back, founder and director of Broker Essentials, built his company around the purpose of helping mortgage brokers establish and scale their operations.
Thanks to Back’s 30-year experience in financial services, including his work with one of the biggest independent brokerages in Australia, Broker Essentials has created an effective learning and development program that benefits small businesses.
“It gives me a fairly unique perspective around what works and more importantly, what doesn’t work in the broking market, and also helps brokers understand that everyone’s a little bit different,” said Back in this interview with Australian Broker.
“We take a very personalised view and, [in] the program that I run, I don’t outsource any of the coaching. I actually do it all myself. So, when the clients seek support and guidance, they get me.”
Broker Essentials’ pragmatic approach to learning and development earned for it the Dye & Durham Best Industry Service Award at the 2022 Australian Mortgage Awards. The program is designed for small mortgage brokerages and their employees who need to clarify their priorities so they can concentrate on growth.
“[Coaching] in general will certainly help brokers narrow down their focus around improving their performance, looking at things like productivity, growing and scaling their business, staying in touch with changes in the industry, as well as enhancing their personal and professional development,” Back said.
Knowing that not everyone is naturally inclined to run a small business, Back formulated a training program centred on three core areas: process, client, and measure.
“We need to make sure that we’re keeping our clients happy and retain them,” he said. “From a process perspective, we want to be utilising the best technologies available in our field to keep up to date with what’s happening, not just in our market but around the world.”
“Measure is really about performance. It takes into account things like productivity as well as profitability, something we don’t probably talk enough about in this industry.”
This training component also involves having a clear exit plan for brokers who may eventually decide to sell their business or turn it into something different, Back said.
He also focused on how sales, marketing, and branding can help Australian mortgage brokers deliver their clients’ needs and seize opportunities in 2023.
“Curiosity and an agile mindset are also necessary for brokers to overcome the past year’s challenges and adapt to a continuously changing industry.”
