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How To Become An Average Agency

growth leadership plan Mar 27, 2019

THE ROAD TO THE MIDDLE IS PAVED WITH NO INTENTIONS

Did the title of this article grab your attention? I hope it made you think, “Average? Why would anyone want to be average?”

Before I answer that, let’s define average: It’s the best of the worst and the worst of the best; as close to the top as you are to the bottom. In other words, average isn’t exactly terrible.

One of the good news/bad news scenarios in our business is that the average agency and the average producer do pretty darn well. When compared to what 95% of working people earn, this is truly a great business.

Of course, not everyone has what it takes to be average. To know whether you make the grade, it’s important to (1) recognize the characteristics of the average agency and (2) be prepared to replicate the specific behaviors of the average producer. Here are some pointers for those who aspire to be truly average.

Don’t be proactive. The average agency has primarily...

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Episode 36: Is the 4.5% Model Holding You Back

Uncategorized Mar 11, 2019
To me, 4.5% is not really exciting or should it be to any true sales organization.

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In this podcast

Many agencies are blindly following the 4.5% model.

  • Most agency owners don't even know their following the 4.5% model - They have no growth model
  • For every $1,000,000 of revenue, what happens at 4.5%
    • After 5 years = $1,246,182
    • After 10 years = $1,552,969
    • Just a little more than $55,000 of grow per year
  • For every $1,000,000 of revenue, what happens at 9%
    • After 5 years = $1,538,624
    • After 10 = $2,367,364
    • Growth per year $136,737
  • For every $1,000,000 of revenue, what happens at 13.5%
    • After 5 years = $1,883,559
    • After 10 years = $3,547,796
    • Growth per year $254,780
  • There's a difference between wanting to grow your business and planning to grow your business
  • Your either a CRAP Magnet or a Results Magnet
  • Don't be ITB (I'm Too Busy) to Get Better

The author

Roger Sitkins, CEO of Sitkins...

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What Kind of Agency Are You?

ON THE PODIUM OF AGENCIES, ARE YOU PLATINUM, GOLD OR SILVER?

Many names or labels have been attached to independent agencies throughout the years: Mom-and-Pop (a literal description of my parents’ business); Lifestyle (corporate and personal finances are commingled to support a comfortable lifestyle); Plateaued (working hard and doing okay, but clients are coming in the front door and going out the back, and every year looks about the same); Growth-Oriented (understanding how to retain customers at a high level while also maintaining an organic growth rate at two to three times the national average); Aggressive (it’s all about selling new accounts to the exclusion of taking care of the old ones); and many more than space permits.

In categorizing agencies, I basically believe there are three kinds: Platinum, Gold and Silver. I’d like to challenge you, as one of our readers, to think of your agency as described below and determine if you’re a Platinum, Gold or...

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Episode 35: Top Leaders Adhere to Core Commitments

Uncategorized Feb 04, 2019
The key core commitments of great agency leaders

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In this podcast

Leader - One who achieves consistently great results

  • Execution beats talent every time
  • Don't complain about that which you allow
  • Change the game - focus on becoming a true risk advisor
  • Master the mundane - Do the basics better than your competitors
  • Create a culture of accountability
  • Embrace technology
  • Embrace relationships & the client experience
  • Use and understand the power of the 80/20 Rule

The author

Roger Sitkins, CEO of Sitkins Group, Inc., is the nation’s number-one “Agency Results Coach.” He established The Sitkins Network™, a territorial exclusive network of high-performing agencies, and The Better Way Agency, a web-based training program that shows agency owners ways to make significant improvements in all areas of the agency. To learn more, please visit www.sitkins.com and follow us...

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The Agent Leader Podcast is Back!

leadership podcast Jan 31, 2019

 

You've been asking for it, and now Brent Kelly's podcast, The Agent Leader, is back!

What can you expect from these new episodes? Brent will be discussing from the heart things he's learning, dealing with, and situations and stories from agencies that he's currently working with. 

In this episode, Brent shares a bit about:

  • How to become your Best Version Possible and avoid regrets, not just in your business, but also your personal life.
  • Adding value to others
  • The greatest challenge of leadership

 

About the Author

Brent Kelly is an executive coach, speaker, and trainer for The Sitkins Group where he helps independent insurance agencies Sell More, Retain More and Earn More. Learn more about the Sitkins Network here.

Follow us on FacebookLinkedIn and Twitter, or you can also sign up for our Podcasts and Blogs so you don't miss any updates on how to become your Best Version Possible.

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Is Your Agency Its Best Version Possible?

growth leadership Jan 17, 2019

At one of our CEO programs earlier last year, Brent Kelly, our vice president, asked me what it takes for an agency to be the best it can be. But it was what he asked me next that changed how we approach everything we do and has become the catalyst for massive, rapid improvements for everyone who attends our life-changing events, including our CEO, Sales Leadership, Producer, and Account Manager programs.

His question: “If you were having a conversation from your heart, using your almost 40 years of coaching the highest performing agencies and producers, what would your message be about becoming the best version possible (BVP) of yourself and your agency?”

This is important for agency owners, of course. But I also believe it’s something all of us as individuals should be asking ourselves. I can tell you it’s had a major impact on me personally, as well as everyone we’ve shared it with.

After Brent first asked me that question, I literally could not...

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Episode 34: If I Were Your CEO

Uncategorized Jan 07, 2019
What I would I do if I were your CEO

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In this podcast

The top ten rules that would provide the foundation for all of the growth and success of an agency.

  1. Differentiate or die
  2. Focus on the Four R's (Results, Relationships, Retention, Referrals)
  3. Know Your 80/20
  4. Never allow profitable Producers to subsidize unprofitable Producers
  5. Filling prospect pipelines
  6. Emphasize the importance of relationships
  7. Relentless preparation
  8. Define the overall client experience
  9. Become a true learning organization
  10. Focus on the Four C's (Clients, Colleagues, Community, Carriers)

For the complete list of 25 rules, click here.

The author

Roger Sitkins, CEO of Sitkins Group, Inc., is the nation’s number-one “Agency Results Coach.” He established The Sitkins Network™, a territorial exclusive network of high-performing agencies, and The Better Way Agency, a web-based training program that shows...

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Episode 33: Essential Questions For Agency Leaders (Part 2)

Uncategorized Dec 10, 2018
Answering these essential questions can become a business plan for your agency.

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In this podcast
  • Why and how should my agency complete an Annual Review and Risk Survey on all of our A&B Clients?
  • What are our Points of Differentiation?
  • How do we ensure that all of our A&B Clients receive an Annual Services Calendar and Stewardship Report?
  • How will we maximize our Contingency Income?
  • How do we create an Operating Profit of at least 33%?
  • How will we perpetuate Books of Business?

The author

Roger Sitkins, CEO of Sitkins Group, Inc., is the nation’s number-one “Agency Results Coach.” He established The Sitkins Network™, a territorial exclusive network of high-performing agencies, and The Better Way Agency, a web-based training program that shows agency owners ways to make significant improvements in all areas of the agency. To learn more, please visit ...

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Episode 32: Essential Questions For Agency Leaders (Part 1)

Answering these essential questions can become a business plan for your agency.

Click here to listen/subscribe on Apple iTunes

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In this podcast
  • How will my agency differentiate? It's not all about price.
  • How do we pivot from transactions to risk advice? Don't underestimate the impact of digital disruption in our industry.
  • How will we attract our next great Producer or Service Person?  Hire talent, not insurance knowledge.
  • How will we create overflowing pipelines? Referrals and Centers of Influence may sound boring, but it works.
  • How do we maximize our technology? The average agency uses less than 20% of their system capabilities.
  • Who's your SEO Manager? Strategic use of the right key words will boost your visibility in your marketplace.
  • What's your social media presence? Most future ideal clients will be checking you out.

The author

Roger Sitkins, CEO of Sitkins Group, Inc., is the nation’s number-one “Agency...

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What's In Your Agency's Sales Playbook?

producers sales Nov 01, 2018

HOW TO HOLD YOURSELF AND YOUR PRODUCERS ACCOUNTABLE

We’ve been doing a lot of research and improving our programs that address what creates great producers and what it takes to cultivate million-dollar producers. It seems that every agency and most producers want to increase their sales. At least that’s what they say. However, the recurring disconnect between what they say and what they do reminds me of one of my favorite Kenny Chesney songs: Everybody Wants to Go to Heaven. Of course, “nobody wants to go now.”

If you ask the average agency and producer how they’re going to increase their sales, their typical response is: “I’m going to sell more insurance.” Well, duh, I get that. But the question remains: How are you going to do that?

I’m sure you’ve seen the TV commercials for a certain credit card that end with: “What’s in your wallet?” My question to agency owners and producers: “What’s in...

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