We've been celebrating Vantage's 10th anniversary over the last month and, while incredibly pleased to have reached this milestone, there have been plenty of peaks and troughs along the way.
The industry has changed drastically over the last 10 years, meaning the business has had to change as well.
The credit crunch was an incredibly turbulent time for brokers, and recent regulatory changes, such as the Mortgage Market Review and forthcoming EU Mortgage Directive, mean we have to continue to adapt.
When Vantage was created back in 2004, the economy and market were very different.
In the early days of getting the business up and running, it was all about working hard to find opportunities.
The approaches weren't always successful but it was a numbers game and it still is.
After a while, we got a few breaks and started to build a panel of lenders to improve our initially limited offering.
By continuing to make numerous phone calls and going out and visiting people, we started to get traction, which picked up further through word of mouth.
It's not always easy to be taken seriously before you start forging those relationships, which was a challenge, but the opportunities began to snowball and we made the most of them.
Initially, a fair amount of our work focused on sub-prime mortgages and loans but we also had a core of introducers who would come to us for other solutions, such as buy-to-let and commercial.
Looking outside our original offering meant we were able to ride the storm of the financial crisis and stay current.
In addition to reinventing the business to respond to different demands, we maintained our focus on relationships; we're still working with introducers who have been with us since the beginning and are very loyal supporters.
Adapting to change and diversifying are crucial to succeeding: always be one step ahead, while never losing sight of your business ethic.
I've always believed in working hard and treating people well, and that is something that's remained consistent since Vantage's beginnings.
However, while it is important to stick to the principles that define you and your company, you also have to adapt to ensure that you cater to the demands in the industry.
By being innovative with your product range and offering clients specialist insight, you'll be able to provide the best service possible.
Communication has also been a cornerstone of our business and it's something our clients and lender partners often comment on. It is worth remembering that supposedly small things, such as keeping a client up to date, can go a long way.
As Vantage continues to expand, we look for the same attributes in team members. Loyalty is highly prized, our staff have to really care about the business. Once you have that starting point, the rest can follow.
The ability does need to be there, because while some things can be taught, having the right personality and attitude sets a prospective employee apart.
My final piece of advice for growing your business is arguably the most important. Never lose that focus on doing a good job for your client.
*Lucy Hodge is Director of Vantage Finance
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