The small box is a concept I heard from Rene F. Rodriguez.
His manager had a small box and he called them managing by small box number.
Why a small box?
So there’s no room for a story.
The small box number is based on statistical calculations, of the number of people, you have to speak to, every day, in ordered to make your desired sales goal…
Basically, it takes the industry average, and it breaks it down to activity.
How many people do you have to talk to, to get a referral?
How many referrals do you need to get an appointment?
How many appointments do you need to get an application?
How many applications do you need to get to a loan?
How much do you make on an average loan?
How much do you want to earn for the year?
How many loans does that mean for the year?
How many days do you work in a week?
Start with the industry average and then you see if your numbers match up.
So in the mortgage business, we broke it down to 25 people to talk to, which brings it ultimately to one loan.
Based on that you get to a certain number of talk to’s per day.
That is your small box number.
The number of people you need to speak to, every single day!