Mike Davies

Use your milestones to take stock

Reaching an important milestone, like an anniversary, is a great time to reassess your business and take a look at the bigger picture – where you came from, how you got there and, most importantly, where you’re going.

My team and I are celebrating this week. This is because we’ve just reached our two-year trading anniversary since we relaunched as YBS Commercial Mortgages. So that’s two whole years since we made the decision to refresh and rebrand N&P Commercial Mortgages — a long-established brand which had already been trading for over 25 years. 

As is true from a personal perspective, an anniversary is a perfect time to take stock. As we all know, it’s easy to get caught in the day to day. So, I’d really encourage you to use any upcoming business milestones as a great opportunity to look at the wider picture.

If you look at where you started, never underestimate your heritage as a business, and what it means to your colleagues and customers. Everyone loves a good story, solid foundations, long-term stability and a clear direction and purpose. And there are many ways you can use this to celebrate and enhance your brand.

Start with where your story began and your purpose as a business. For us, this meant reflecting on our journey from 1852, with a clear objective to help our members buy a home. So, despite being a ‘new’ brand, we still have a great history.

Next, recognise how you got here and the steps you’ve taken to date and, most importantly, acknowledge your people, the relationships they’ve built and the massive role they’ve played in your success from day one. It’s not just about offering a product or service — the quality of that service can make or break you. This is why it’s so important to make your customers feel special. 

You should also be constantly reviewing your customer service, even if there are no problems, as things change quickly and it’s important to flex as your customers’ needs evolve. Is the size of your team fit to provide the best possible service, or do you need to expand? Are you in the right physical locations to reach out to all those who might need your help? Stay up to date with the market and keep abreast of what’s out there and what’s new, as well as which lenders have updated their ranges to meet demand.

Finally, an anniversary should help you look to the future. Where are you going? Where do you want to be at the next milestone and how do you intend to get there? Having a clear direction is important and ensures that you can stay focused.

Looking to the future can help you to assess your strengths, where you need to make improvements, and your future strategy so that, when the time comes, you’ll have even more to celebrate at the next landmark.

Leave a comment