Insurance Industry Tips and Insights from Roger Sitkins and Brent Kelly
Otherwise, we’d all be super successful, healthy, happy and wise, right? These wrong things prevent us from getting optimum results, so why do we do them?
Perhaps it’s because we don’t have to do the right things. After all, the independent agency is a great business model that allows the wrong things to still generate pretty good results. During our training programs, I often ask: “How many of you are making more money than you thought you’d ever make?” And, “How many of you are making way more than your friends and siblings?” And finally, “How many are making more money than you’d make if you had a real job?”
Every time I ask that last question, everyone in the room always cracks up! People realize that in just about any other business, they wouldn’t have the opportunities they have now. The reality is that most of us would be fired if we...
I would like to invite you to join me and other like-minded people in an extraordinary act of kindness that will literally change the world! If you accept this invitation, you’ll join us in Nicaragua to help build homes for deserving families, January 28-February 4, 2017.
It’s hard to explain the emotion and gratitude I have witnessed when dedicating a new home for a family in Nicaragua, that’s why I am going again this year, marking it my 12th trip! Below is a video clip of a prior trip to Nicaragua and what some past volunteers had to say about their experience.
The spirit and commitment from volunteers of Bridges to Community will continue as we make another trip to Nicaragua early next year. To learn more about Bridges to Community, please go to http://www.bridgestocommunity.org/
You can register online for the trip here: https://bridgestocommunity.org/volunteer/application-form/
Please consider joining us, it will help...
They have a very specific plan for the client experience—a map for the journey they’ll take their clients on. Their standards ensure that every client receives the VIP treatment. This is reflected in the quality of service provided and in the overall agency attitude: how the phone is answered, how quickly calls are returned, agent follow-up and follow-through, product quality and much more. A well-planned journey makes VIP clients feel valued and appreciated. In turn, they tend to be extremely loyal.
In keeping with their high standards, the best producers work only on prospects that are referrals or introductions. Of course, that doesn’t just happen overnight by proclamation, but that’s their mindset. While they may use social media for positioning, they believe their next great new client wants to meet them through a referral or introduction. After all, when you’re looking for services, isn’t that really...
At a recent sales training session, I was asked what separates the great producers from the pack. My response was “PS: Producer Standards.” We find that the best of the best hold themselves to higher standards, which they consistently meet and exceed.
Here are the basic standards that are part of our ProducerFit sales training strategies and ones that you’ll recognize in most $1 million-plus producers.
They have a very specific business model that becomes their laser focus. They’re always looking forward three years to five years, with a defined goal in mind. For example:
“Within three years, I will have no more than 50 clients paying me $20,000 each.”
This is not an overnight, get-rich-quick scheme. It’s a focus. They have their eye on the prize and a very specific plan for making it happen.
Remember, you can’t be a million-dollar producer writing $1,000 accounts. So if you’re going to put the time in anyway, you...
On a regular basis my smartphone, desktop, laptop and iPad all check for updates automatically. These system improvements are designed to optimize operational efficiency and performance, and in many cases, enhance security. (Not surprisingly, the app updates never seem to stop—I had 24 pending on my iPhone just this morning!)
What strikes me is that the majority of independent agencies are probably past due for some AUs —Agency Updates. In fact, I’d be willing to wager that most of them are probably on version 1.0 or 2.0, when they should be on version 8.9 or higher!
Now I’m not talking about your agency management system, which I assume you keep up to date (don’t you?!). If that’s the case, then why wouldn’t you keep all of your other agency systems current? Maybe you’re already doing that, but if you’re not, let’s take a look at some areas in your agency that may need updating.
Are you still doing an...
When I got into my vehicle a few weeks ago, a warning light popped up on my dashboard display with the message, "Annual Service 100 Miles Past Due." I ignored it for a few weeks and then received an updated warning: "Annual Service 300 Miles Past Due." That's when I remembered the old saying,
"A problem left unattended becomes a crisis."
Immediately, I booked a service appointment for my vehicle. Crisis averted!
That got me thinking about the warning lights within Independent Insurance Agencies that often get ignored. Let’s take a look at some of the warning lights that agency owners should never ignore.
The most successful entrepreneurs consistently invest in themselves. Yet I continue to see and hear countless ITB ("I’m too busy") excuses from agency owners and managers. They're just not willing to invest the time to get better.
I've often remarked that many people confuse Activity with Results. At the end of the day they'll lament, "I...
What causes agency apathy?
The number-one thing that happens is what one of my friends refers to as “ARS,” the Already Rich Syndrome. There’s really no motivation/need to change because in a great business like ours, you can get rich pretty easily.
Another common reason is that the owners and key people just don’t have that compelling, overriding vision of what they really want to accomplish because they’re doing well enough. They’re not driven to do more. They can simply do nothing and still be successful (or at a minimum, at least semi-successful).
Also, for so many, it’s a lifestyle business. Gary Holgate, my mentor in the consulting business (and the first-ever consultant to independent insurance agencies), noted that one of the big problems in most agencies is that their personal checkbook and corporate checkbook are one and the same. Consequently, they’re not really growing a business, but rather...
During some internal conversations at Sitkins Group, we were discussing what works and what doesn’t work in our business, and why some agencies commit to getting better and others don’t. We also wondered why some owners and producers appear to be so lackadaisical about their business when they have every reason to be excited about it. That’s when one of our team members remarked,
Apathy is defined as “lack of interest, enthusiasm, or concern.”
We’ve all seen it. Some people are very excited and involved in their business while others are sort of neutral about it. Everything is just “okay.”
But why would an entrepreneurial business owner ever not be interested and enthusiastic about what they’re doing? What would make them apathetic?
I often wonder why only 2% of people can implement long-term meaningful change. It’s something we see across the industry. If there are approximately 35,000...
Think TED Talks, where speakers have no more than 18 minutes to convey their message. Could you give an overall briefing about what, how and why you do what you do in 18 minutes or less?
As I’m sure you are painfully aware, this is a presidential election year, which means the airwaves are flooded with political messages (increasingly malicious ones, at that). During one of the way too many broadcast commercials airing recently, I heard the legally required tagline, “My name is __ and I approved this message.” Recorded in the candidate’s voice, this phrase is meant to show that the candidate agrees with what the ad is saying, thereby discouraging false claims.
That got me thinking about the message independent agency owners and their producers are putting out to their “voting public.” Do owners really know what message is out there about their agency and, if so, would they approve it?
Shortly before sitting down to write this article, I was talking with an agency owner and his son (the heir apparent) about our new producer training program, ProducerFit. I began the conversation by asking them about their approach to the...
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