Business owners level up at Leadership Academy

Last week, Loan Market brought together its branded and Partner service plan Chairman’s Club, Platinum and Elite business owners for insights into talent management and leadership from one of the world’s preeminent authorities in the field.

Prof Boris Groysberg, from Boston-based Harvard Business School’s MBA and Executive Education programs, shared his globally recognised research and innovative insights with the group so they could strengthen their leadership capabilities and develop a structured, long-term, and sustainable business strategy to further fuel their growth.

Loan Market National Director, Andrew Thompson, said: “Our Executive Chairman Sam White is a former student of Harvard Business School and long-time advocate of continuous learning”.

“Sam has been inspired by Prof Groysberg’s knowledge of talent management and wants to incorporate his teachings into our education program so that our business owners can become the best possible leaders for their teams and businesses.

“The industry has undergone a transformation with rapid tech advancement and regulatory change. It’s so important that our business owners are equipped to lead their business and, importantly, their people through this change.

“Prof Groysberg's session was a masterclass in cultivating leadership that drives both personal and professional growth.”

Michelle Stephan (Goody) is the Managing Director of Easy Loans in Darwin, a Chairman’s Club business with a diverse team of 11 individuals.

Among her staff are both promising talents under 35 and experienced brokers in their late 40s to 50s, contributing to a dynamic blend of perspectives and skill sets.

“Our business has been around for more than 20 years and while we’ve been doing a lot of things right, there’s always scope to do them better,” said Ms Stephan.

“On the first day, Prof Goysberg talked to us about how we manage staff—everything from their mental health to what motivates them to perform and contribute.

“On the second day, we focused on applying these insights to our own businesses. I loved how willing business owners were to share what works and doesn’t work for them. We’re based in Darwin and don’t always get a lot of opportunities to talk and share ideas in this type of open forum, and I really enjoyed collaborating - we weren’t competitors, we were all like-minded leaders wanting to bring something new to our skills and businesses.”

Ms Stephan said she had returned to her office energised and inspired to review structures that worked on both individual and group levels.

Phil Rogers from Loan Market Edge likewise said he was grateful to be invited into such a collaborative environment.

“For Loan Market to bring out someone as well respected as Prof Groysberg from the Harvard Business School really was a great experience to be part of,” said Mr Rogers. “He provided us with some great practical tools and takeaways for business leaders that are normally reserved for the Business School’s students.

“He’s an expert communicator and raised some really thought-provoking concepts around running a business.”

Loan Market Edge runs remote teams from Townsville and the Gold Coast. While the business’ inclusive culture breaks down the distance between the teams, Mr Rogers said it’s critical as a business leader to continue to review best practices.

“Prof Groysberg talked to us about working better with staff: things like asking better questions of your staff to get better answers,” he said.

“Whether you’re working face-to face or remotely, it’s about understanding people better, the way they think and potentially why they think that way.

“We can get so caught up in writing loans - the day-to-day activities,” he said. “We’re on the journey from broker to brokerage, and you need to spend more time on the business rather than in the business.”

Mr Thompson said: "Our commitment to education and the continuous improvement of our brokers is stronger than ever," said Thompson. "The Leadership Academy is just one event in our holistic approach, which includes Brokerversity, Professional Development Days, Kaizen workshops and lean Six Sigma business coaches, all designed to support our businesses in achieving their ambitions."

Prof Groysberg commented, "The dedication of the White family, Loan Market and LMG to the professional development of their members is outstanding. Out of all the families I know, the Whites are the most learning-focused I’ve ever met. It's inspiring to see such a profound commitment to learning and growth in the business world."

Prof Groysberg has authored several books on organisational behaviour, including Chasing Stars: The Myth of Talent and the Portability of Performance.