Setting Goals for The Coming Year
Welcome to 2022!
I hope each of our hopes and dreams come true. One way we do this is through things like setting New Year resolutions. These resolutions usually fall into the realm of things I’d like to do this year and may even receive some concerted effort like joining a gym, going on a diet, or picking up a travel brochure.
Goal setting is another thing entirely. Goals are things that make decisions happen! When we set goals, they should be a subset of a vision or destination that may be known or unknown but leading to a quantifiable outcome. For example, I want to retire at a certain age, which requires a certain amount of money, therefore, I must have a plan to create that much savings. Then executing that plan.
Here at Freedom Mortgage, our goal is to build our business and continue to grow and thrive into the future and remain relevant. I believe that we need to grow the assets which we manage to achieve this long-term goal of growth and relevance.
Therefore, the next logical step is to set up an intermediate goal based on this asset growth. The primary asset here at Freedom Mortgage is the size of our servicing portfolio which currently stands at just under $400 billion of loans for which we collect borrower payments on nearly 2 million customers. So, I would like to see us increase that portfolio by about 25 percent. Or 500k customers during the 2022 year. We will accomplish that in pieces, hopefully about 15 percent in the first quarter and the balance throughout the remainder of the year. We will track this number and alter our tactics to move further and further in this direction.
Whether we achieve this goal, exceed the goal, or miss our goal, is not necessarily important. What is important is taking relevant action: working toward this goal, adjusting the benchmark to our new location, and setting new short-term goals. Understanding our success, or shortcomings only help us to make our goal more real and achievable.
These steps prepare us to quantify and accomplish our long-term visions, as well as course correct, as needed. Plan, execute, revise, review, and re-plan. This is the path to success.
Best wishes in achieving your goals in 2022!
Stanley C. Middleman
Freedom Mortgage Corporation