February 19, 2013
The Silver Bullet
2 min read
Topic: Insurance Agency Management Start an Agency Grow an Agency
I have had the opportunity recently to visit with a number of our members across the state. As we visit I get asked lots of different questions. How can I start selling commercial insurance? What’s the best way to advertise? Who has the best rates for this, that or the other thing? I’m stuck on a plateau, how do I get off? I’ve gone backwards recently, what do I do? We’re not as competitive as we were, what do I do?
Despite the question, really everyone is looking for essentially the same thing. “How do I get my agency to grow”?
Everyone wants to know – what’s the best way? Everyone wants “the Silver Bullet”!
Like the Lone Ranger I have the Silver Bullet. And it is the key to growing any agency.
Recently Marsh Berry, a mergers and acquisitions and consulting firm operating in the insurance agency space, published this in their newsletter For The Record:
“MarshBerry data shows the average producer generates approximately 1.5 new business appointments on a weekly basis, while a top 20% producer will get three new business appointments per week”
The Silver Bullet is ACTIVITY!
Simply put, if you do more of anything you’ll get more results. If you want more sales you must do more of whatever it is that produces sales for you! It’s really just that simple.
Someone else may be a better closer than you, better marketer, have more competitive carriers, have a better niche market, better location, etc. I’m not saying those things aren’t important. And we should all try constantly to improve. BUT, if you do more of whatever you have done in the past that has worked for you, you will grow!
Ready? Then aim and FIRE!