Managing The Stress Of Volume & Volatility!
Stock & Bond Markets volatility, disconnect between traditional measures causing huge swings almost minute to minute, coronavirus, capacity issues, the political bias on reporting the “news”, and clients struggling to understand why the rates they are seeing may not connect with “news” they are hearing, originators, their managers, and all of their referral partners and clients all seeking answers to questions that have a variety of answers; we have to manage our message within the confines of our specific markets and company situation!
Increased volume with the addition of uncertainty and volatility equals STRESS! Opportunities are still exceptional, we have to be sure we are accurate and honest with what is going on and how you are going to guide your team, your clients, and referral partners to a successful conclusion!
Here are a few things I try and encourage my clients to do and tools to use to help manage their own stress.
- Be very clear about you process on how your clients go from contact to closing.
- Set firm timelines and manage expectations.
- Schedule the work and rest time.
- Communication with your clients and referral partners is even more critical to be clear and consistent.
- You must know your own situation inside your company is likely different than what others may be experiencing. You need to know what your situation is and stay in your lane!
- Don’t be afraid to say NO!
- Remember to take care of yourself!
Higher volumes and volatility will stress your systems, your team, and your body. It’s more important to do a great job and provide a better experience for your clients and referral partners than it is to do and extra deal or two. In the long run, use this time to really understand your business and your team. The good news is that repetition helps you master your craft.
Managers, be aware of potential burn out and meltdowns. Be sure ALL the members of your team are taking breaks, hydrating, and are being complimented for doing a great job! Build in a team event like a team lunch or dinner; a happy hour for the team and their spouses works well, maybe even a trip to the bowling alley or Dave & Busters, or Golf Plus, to have some fun!
A great opportunity needs to be managed or the stress on the system can break things beyond repair! You need to schedule your success and manage this opportunity for both short term and long term gains!
Questions or comments: [email protected]
