What are the qualities of a good business leader? Monica Bradley, Managing Director of Cheam-based mortgage broker, MB Associates, talks about her values and beliefs in business.
Running a successful business is not just about keeping clients happy, although of course that’s hugely important. An equally crucial aspect of being a business owner and ensuring things run smoothly is keeping staff motivated and making them feel valued. If your staff don’t feel appreciated, they may grow demoralised and eventually you could lose them entirely.
This was demonstrated in a 2018 survey from online learning company Udemy. Its survey revealed that nearly half of all employees said they’d quit a job due to a bad manager. Some 60 per cent of staff said they thought their managers needed managerial training. It’s not enough to recruit people and leave them to get on with their work – you need to spend time getting to know them and ensure you have regular communication.
When I set up my business many years ago, at first it was just me seeing clients on my own, but the business grew rapidly, and I recruited a team to ensure I had the infrastructure in place to serve clients well.
At MB Associates, we now have an office manager, nine mortgage advisers and four admin staff as well as trainee paraplanners who provide support to the advisers. This ensures that mortgage applications are submitted to lenders efficiently and also enables us to keep our clients up to date on what’s happening with their mortgages.
Working on their own terms
I encourage staff to work on their own terms and never micromanage. I don’t believe in checking up on staff or standing over their shoulders while they work. There has to be trust and I give my staff the flexibility to work in a way that suits them. That way, people will do their best work and remain motivated.
As a business grows, it’s important to look at the structure and also ensure everyone is on the same page. I recently sat down with some senior colleagues and mapped out our vision, mission statement and culture for the business. We all felt this was hugely important so that our staff have a clear idea of where we intend to take the business, and the culture we would like everyone to embrace.
We felt that having a company culture is important as our colleagues are more likely to enjoy their work when their beliefs are consistent with the company’s values. We believe our culture is a good fit for our staff and that it will encourage productivity.
Company culture
We have defined our company culture as encouraging all staff to adhere to the following principles:
Total Commitment
We will provide 100 per cent commitment to everything we do for our clients and colleagues.
Trust
We will always act in a reputable, trustworthy manner, and will be completely transparent at all times.
Truth
We will only ever speak the truth and conduct ourselves in an honest and candid way.
Act
Once we have committed to a task or project, we will act quickly yet thoroughly. We believe that part of offering a great service is to work swiftly, but without compromise.
Positive Communication
We pledge to communicate in a positive, upbeat, and empowering manner. We will avoid gossip and negative language.
Measured
The property market can be unpredictable and there may be challenges for our clients at times, but we will always strive to conduct ourselves in a calm and composed manner, which is especially important when obstacles arise.
Team Spirit
We will work as a team, aiming to inspire, motivate and support our clients and colleagues.
Consistency
We will be consistent and steady with the quality of the service and actions we perform.
Efficient
We will always act efficiently and in an organised manner.
Supportive
We will support our clients and colleagues to the very best of our abilities.
Our company culture has been published on our website and is also included in our company handbook which is given to new members of staff.
As a business leader, I also feel it’s important to be a good communicator and ensure staff are up to date on what’s happening in the business. This makes them feel part of a team. We send out a regular company newsletter on how we are performing and our plans for the future.
Twice a year we get everyone together and have team days where we hire out a function room in a hotel and update everyone on current progress and future plans.
When communicating with staff, I always try to do so in a positive way. I’m very aware of my body language and I choose my words carefully, avoiding negative words like ‘challenge’ and instead using more upbeat words like ‘opportunity’.
I also like to give staff feedback about their performance and ensure I am aware of their career goals. I like to find out what their ambitions are and give them appropriate training, if need be, to help them achieve their ambitions.
I try to lead by example. I would never ask a member of staff to do something I’m not prepared to do myself.
Another important quality of a strong leader is to be optimistic, even in the face of adversity. Running a business can be stressful but it’s important not to project your stress onto the team, as it could be unsettling for them.
Empathy and compassion
Some business experts talk about showing a more human side to business leadership. While it’s important to be professional, I agree this makes sense. I try to show empathy and compassion. If someone is having a bad time in their personal life, they need support, not additional pressure.
I’m often asked if I have any role models in business. When I first started out as a young mortgage adviser, I noticed there was a successful financial adviser generating a lot of business. I made a point of observing how she worked and then took on board some of her methods. As life coach Tony Robbins says, emulating the habits and behaviours of others who are already successful in your chosen field can save you years of trial and error and bring success more rapidly. That said, success and fulfilment won’t last long without a motivated and energetic team behind you.
More Information
MB Associates has been serving clients locally and nationwide for over 20 years. For a free mortgage consultation, call 020 8652 5240 or visit https://www.mbassociates.net/