Interview Of The Week #64: Time To Work Smarter, Not Harder

INTERVIEW OF THE WEEK: DOMONIC THOMPSON
Domonic Thompson has worked in the Finance industry for over 18 years and has developed a specialised skill set that he brings to his role of National Segment Head in Macquarie’s Business Banking team, specifically working within the property services sector of Real Estate.

The property industry has undergone huge pressure and changes in recent years, and Domonic joined Macquarie Business Banking because of how Macquarie lean into this challenge with a genuine interest in the industry.

Domonic has been with Macquarie Business Banking since June 2006,and is not about simply providing solutions with a product, but helping his clients strive for and achieve more.

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KEY TAKE AWAYS:

• We've been on a journey in real estate. I think it's fair to say that back in the day it was all about "one more sale, one more house, that'll fix a lot of problems".
• I think where we're at right now, looking at what we see across the industry in terms of top line pressures, we've obviously got some supply issues on the sales side that we've been navigating, seeing the cost base continue to grow...the ability to hang your hat on just one more sale is not as easy as it potentially once was.
• We've also shifted away from this mentality of GCI being a barometer of success, it's something that I say every time I'm presenting to a group of people and we've got a bit of a shift in mentality across the industry now, but it's really all about profitability and not revenue.
• That doesn't mean don't grow or don't have aspirations to grow the revenue line, but make sure that revenue growth, or that revenue and that growth, counts.
  We've got to make sure it counts every time. How do we do that? Productivity and efficiency tracking - how are we measuring success across our business that's way beyond top line revenue?
• Are we clear with our teams around what their jobs are? And that we're measuring their productivity and contribution? How do we set them up for success? How do we get better exertion out of our people - to contribute more, manage more properties, to be more efficient in what they do?
• We need to be across those metrics and really making sure that we are incrementally, month-on-month, seeking improvements of contribution to profit that really are more of a focus than just top line revenue.