Answer in Management for Jessica #167368
ABC commercial mortgage has lenders, approved a and back office file clerks. The company has missed volume targets in each of the last four quarters. Despite loan production and accurate and efficient, paperwork, there is a backlog of deals due to the fact approvals take two weeks to obtain.
Applying the concept of chain link systems to this company, what should management do to get the business unstuck. Give some examples
- Get clear about your goals and visualize the finish line. You can’t reach the finish line if you don’t know where it is in the first place. If you’re unsure of your goals, set aside one month for “discovery.” Begin by writing down your everyday highs and lows in a journal. Additionally, ask yourself the following questions: What types of activities energize and empower you? What types of activities drain and deplete you? Where have you excelled? Where do you struggle? Be brutally honest. No one is going to see this but you. Anything short of complete honesty with yourself will defeat the purpose of this exercise. At the end of the discovery period, use the insights you’ve gained to formulate a realistic yet challenging plan to take your career in a direction that best suits your strengths and preferences.
- Take personal responsibility to sharpen your knowledge and become the “GO TO” person in your area of interest. You may be the manager, but do employees come to you for advice, insight, or help? If not, you need to put yourself in the position to be that person. Become a true expert in your industry by challenging yourself to read two books a month on your area of interest. Don’t wait around for someone else to notice your abilities. Find ways to productively share your knowledge. Showcase your abilities by volunteering for extra opportunities. For example, if you’re in a technical department, but you’d prefer to be in the marketing department, volunteer to spearhead a company newsletter or to co-sell with members of the sales team. This is a fantastic way to move into a different area in the company if you’re unhappy where you currently are.
- Hone your speaking and persuasive skills. You could have the most innovative solutions and ideas for improving the company, but if you’re not able to express them to the right people at the right time, those ideas will never see the light of day. More than anything else, speaking and persuasive skills can make or break your career. Improve or hone your skills by enrolling in Toastmasters. Read books and take courses about how to increase your persuasive abilities. Perfect your “elevator pitch.” Practice these skills as often as possible so that when the opportunity presents itself, you’ll be able to clearly and articulately present your ideas in an effective, persuasive manner.
- Identify and serve your “personal customers.” These are not the same as your company’s customers. Personal customers are people who may influence your career, such as coworkers, supervisors, hiring managers, or contacts at other companies. Go beyond simply networking and deliver superior service to your personal customers. Provide value by finding unexpected ways to put your expertise to work for them.
- Find a role model. Just because you’re in management doesn’t mean you’re beyond having role models. Learning and personal development are a lifelong process. To find a role model, identify somebody whom you respect and who has expertise in your area of interest. Volunteer to assist with this person’s projects to gain experience. When you find ways to help your role model, your role model will find ways to help you. As the relationship develops, ask for candid feedback and suggestions. Ultimately, this person may help you make a career-changing connection.