What is the biggest challenge you have faced in establishing your brokerage and how did you overcome it?
It was quite a jump to move from very secure employment, a successful career in another industry, a young family to support and a mortgage to pay, to move to a brand new field with no experience or contacts to leverage.
It sounds like madness when I write this but I’m pleased to say that business is good and all measures point to continued growth which calms the nerves somewhat. I needed to get out and get my name known locally as the point of contact for business and property developers when they need finance.
I spent the vast majority of my time networking, joining local business groups and engaging with lenders. I was worried that I wouldn’t enjoy that initial phase as that does not come naturally to me, but I’ve come to really like it and the people I have met along the way usually want nothing more than to help where they can.
Networking has been key and whilst I cannot afford to spend as much time as I did initially out of the office, it is vital to continue this and to keep up the working relationships developed, so I’ll be networking for some time to come.
Which product area do you focus on/has it evolved over time?
I took the approach that since I had no preference or prior contacts in a particular area, I would try to do as much as I could in general and then see where the business came from.
It turns out that no amount of research could reveal where the competition locally have their strengths although this has become apparent as I broke into the community.
For whatever reason, a growing stream of leads for bridging finance, commercial mortgages and development funding have found their way to me and whilst I do have other opportunities, it is these that provide the day to day income for us.