Agency principals often ask us, “How can I build a ‘sales’ culture within my agency?” We suggest that they start by reframing their question. The truth is that you build a sales culture not by focusing on sales but rather on service. The key is to take small steps that shift the perceptions of your team and elevate even the most minor transactions to a personal level. We offer some tips to get you started.
There is no instant gratification in staffing – it takes time and effort to recruit and hire someone with the skills, work ethic, and personality that will jibe with your agency. When you’re in the throes of the interviewing process it can feel overwhelming - and all too often, agents walk right into two big traps in their hiring practices, which make the whole exercise harder than it needs to be.
When I speak with agents about why they join an agency group, the two most common reasons I hear are increased profit sharing and market access. Those are two valid reasons. But if that’s all you’re getting from a group, you’re selling yourself short. Why? If you are like most owners, your agency is the single largest asset you have. You owe it to yourself to maximize the returns you see from it.
If you’re an insurance agent I have bad news: you are afflicted by FOMO. No, this is not a computer virus, nor do you need medical attention – it is the Fear Of Missing Out. FOMO is real for the insurance agent, and it is paralyzing. Most agents’ FOMO could more accurately be rebranded as FOMOP, or Fear Of Missing Out on Premium. As agents, we go to great lengths to write every cent of premium we can, regardless of whether or not we should.
The insurance industry is experiencing a huge generational shift. As aging baby boomers head to retirement, younger generations of agency owners prepare to take charge. Are they ready to lead? Leadership succession is always a disruptive time in any organization. You can lessen the turbulence and future-proof a healthy agency with proper planning and clear communication.