Background:

Kristie Oldfield, the founder of Parabroker.au, had over almost 10 years of experience as a broker and lender BDM before deciding to start her own business. However, after quickly gaining several brokers as clients, she found herself drowning in client work with what felt like too little to show for her efforts. Prior to working with Butler & Co, Kristie had employed an operations resource internally to try and resolve the problem, it did not work out.

Kristie explains, “I started Parabroker.au because I knew that my product knowledge in residential and commercial lending products was better than most. But as time went on, I found myself struggling to manage the workload and generate enough cash flow to cover costs. I knew I was onto an absolute winner, I just couldn’t put my finger on exactly what I needed to do next in order to grow the business.”

The Process:

Trent Butler’s initial strategic planning process quickly identified the real issues, and the primary problem was that Kristie was not charging a commercial rate for her time. Kristie says, “When I started working with Butler & Co, I thought my prices were reasonable. But through their research and guidance, it quickly became clear that I was close to running a charity, not a business. It was a tough pill to swallow, but I knew I needed to make changes to save my business.”

Trent worked closely with Kristie to develop a pricing strategy that would allow her to charge what she was worth without losing clients. Kristie explains, “I was nervous about raising my prices. I didn't want to lose any of my clients. But with Butler & Co's help, I was able to negotiate new terms that worked for both me and my clients.”

The Results:

Within just four short weeks, Parabroker.au embarked upon a price renegotiation strategy and installed a new sales system/process into the business. The outcome was exceptional, with over 90% of the pre-existing clients deciding to commit to staying on, at higher prices and better terms.

Kristie's confidence went through the roof.

“The result has been life-changing. Before working with Butler & Co, I was genuinely reconsidering throwing in the towel and returning to employment. Now, we're operating profitably, our cash flow is healthy, and we're even able to explore hiring new people and explore how to best drive efficiencies by improving our processes.”

Kristie concludes:

“I'm so grateful for the support and guidance that Butler & Co’s business coaching has provided me thus far. Without them, I’m not sure if I would have continued in business. I'm now excited for the future and what's next for Parabroker.au – we’re only just getting started!”