Call Joe in Florida
I had the pleasure of attending a terrific industry event last week, and one of my favorite presenters asked a great question…
“Are you an insurance person who happens to be in business… or a business person that happens to be in insurance?”
The audience sat quietly for a moment, a little stunned and bewildered.
The presenter went on to explain that many agents, even those that are successful individually, could do even better with a deeper understanding of the fundamentals of business. Some have gotten into insurance as a second career or a desire to be their own boss. Some wanted to help people. Others have taken the plunge because they hated their factory job and heard there was good money in financial services.
Whatever the reason, a good number of agents don’t have years of experience or formal education in business. They just don’t. That’s not to say they can’t succeed. Quite the contrary. I know plenty of very successful agents that don’t have formal business training. They battled to the top through hard work, determination, and street smarts. If anything, that’s an even more impressive accomplishment.
However, even the most successful agents could leverage established business principles and strategies to take their businesses to the next level.
Here’s a quick example: According to a recent study cited in Harvard Business Review, organizations that adopted a formal, repeatable sales process increased revenue by an average of 18%. That’s right, an 18% increase in revenue simply by adopting a repeatable sales process.
That’s pretty impressive, but to tell you the truth… I’ve seen better results in our industry. A lot better.
If you’re wondering if a dose of Business 101 might help give your practice the boost you’ve been looking for… ponder these questions:
If you’re not doing these things, find a way to get started. Either do your own homework and take action, or reach out to someone who can help. Our team can certainly do that. We’ve been telling you for years, “You’re not just an agent, you’re a business owner.”
Even if you don’t choose to work with us, I encourage you to work with someone. There’s no shame in asking for help if it contributes to your long-term success.
“An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.” – Jack Welch
P.S. If establishing a repeatable sales process is a priority for you, click here to learn about a simple, but effective way to do just that.
P.S.S. We have a winner… actually two winners! Chuck C. took the top spot in our new agent iPad promotion, and Tommy A. was the winner of our $350 gift card drawing. Congrats and enjoy, fellas!
Postema Marketing Group is a full-service Independent Marketing Organization (IMO) dedicated to providing world-class products and services to our clients. We have partnered with some of the strongest names in the insurance industry and proudly serve independent agents from coast to coast.
GET IN TOUCH.