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... x No Thanks Loading.. Boot Camp' For Insurance Agencies 4/30/2013 by CompleteMarkets Editor , Dana Falardeau This content has not been rated yet. Why does the Army hire people with no experience? Could it be that they want to train them the right way at the start? Could it be that they can't afford to hire experienced soldiers for every new spot? Could it be that they have the right idea when they send their recruits through an intensive training program commonly known as boot camp? We are often disappointed when we hire experienced people from other insurance operations. Along with their experience comes a predisposition of doing things one way or another. The match might not be as good as you would like. Also, experience costs money! In today's leaner employment environment, every cent of your human-resources budget must be spent wisely. Boot camp might be the way to obtain employees who will perform their work your way and within your budget. It brings a totally inexperienced person up to speed in the shortest possible time. Everything from core values to following instructions to developing key skills are addressed in a few short weeks. The program is planned, structured, and goal oriented. Very little is left to chance. Specific people are assigned to mold and train the recruits, and each trainer is held personally responsible for meeting the goals. The Costs of Training Can you afford to train a new person? Look at the time involved: Can you wait while the new person gets up to speed? Put this question in perspective by considering whether you could survive ...

... x No Thanks Loading.. Four Quick Hit Referral Ideas 4/30/2013 by CompleteMarkets Editor , bill cates This content has not been rated yet. Every time I host a Referral Champions Boot Camp, I walk away with great ideas from the attendees – and the latest camp was no exception. Here are four quick ideas, all of which can lead to more referrals, more clients, and more revenue: Meet clients in their space - If you're accustomed to your clients coming to your office, it's still a great practice to meet them in their home or office from time to time. Try walking them to their car after a meeting at your office. See how the nature of your conversation changes. This will give you an opportunity to learn more about them. Because money affects every aspect of their life, what you learn might give rise to new business. At a minimum, you'll build your business friendship, which supports loyalty and referrals. Send summary letters - Providing a brief summary letter or e-mail after your appointment, enhances the client experience by reinforcing loyalty and referability. Where it's appropriate to have a relationship with the CPA of your more sophisticated or successful clients, get the client's written permission to copy the CPA with your summary letters. This enhances your referability in the eyes of the CPA. Let clients know about the value discussion - This discussion is the cornerstone for asking for referrals. Even if you don't ask for referrals, check with your clients at most every meeting to make sure the communication is to their liking and your relationship ...

...of coverages for children's summer camps and plant farms. These target markets...a carrier. Today, it insures about 60 camps in Texas, Arkansas and Missouri ,...

... x No Thanks Loading.. Turn Your Clients Into Word-Of-Mouth Machines 4/30/2013 by CompleteMarkets Editor , bill cates This content has not been rated yet. I just conducted a special referral boot camp for a group of about 50 highly successful financial advisors. (I mean highly successful!) . One of the advisors shared an approach he uses to generate a steady flow of referrals from his "A " clients. This advisor turns his clients into Word-of-Mouth Machines by providing them with a continual flow of shirts, umbrellas, and other high quality, useful items that his clients use on a regular basis. He told the group that "a $50 shirt is a small investment to get your clients to let others know that they are using you" I'd like to emphasize the words quality and useful. If the items you provide your clients don't meet both criteria, you're probably wasting your money. This advisor has created a "culture of referrals" among his clients. They love the work he does and are happy to spread the word in a low-key, no-pressure way. How can you apply this approach to your business? Get started today! Bill Cates, "America's Referral Coach," is the author of Unlimited Referrals: Secrets That Turn Your Business Relationships into Gold (book, audiotape, and videotape) . You can reach him at Referral Coach International, 7901 Sandy Spring Road, S 102 Laurel, MD 20707; phone: (301) 497-2200; toll-free; (800) 488-5464; fax: (301) 497-2228; e-mail: [email ...

... and performance. American history is replete with stories of the work ethic and how it has transformed this country into one of the world's superpowers. Many who came before us made the most of their opportunities and talents. Austrian philosopher Viktor Frankl states that it is opportunity, performance, and work that create the quality of one's life. If any of these factors are bad, than life itself is misspent. As agents, we face the conflict of opportunity and performance daily. What should we do? Should we cut corners? Look the other way? Leave the room when we know an applicant isn't telling the truth on an application? Smile knowingly at the other person when an ethical conflict emerges? Let's go back to Viktor Frankl for the answer. Arrested and thrown in a Nazi concentration camp, he maintained his belief in himself and humankind. He roused his fellow prisoners' spirits when there seemed to be no reason for hope. It was only when he heard through the camp grapevine that the Nazis had destroyed his writings, essays, and philosophical works that his spirit fell; his work had been his life. As he reflected, if the Nazis had killed him, it would have been only one more death, but their destroying his work deprived the world of the benefit of that work. In the final analysis, all of this goes beyond the questions of ethical behavior. Whatever contributions we make through our work to ensure a high quality of life for others will reward us. Whatever we do through our work to deprive others of a high quality of life will ...

... or "run out of time" when the real reason is that we fear feeling uncomfortable. Make the decision not to let your fear run your career! 2. Are you committed? Knowing the value of referrals and being committed to the referral process are two different things. The single most significant step you can take to master referrals is to commit to mastering referrals. Be honest with yourself. Have you made the personal commitment to master referrals? Have you decided to become a "student of the game?" If not, you run the risk of dabbling in referrals and missing many opportunities. I want to emphasize this concept of "becoming a student of the game." Become a student of referrals. Keep reading these articles. Check out our Referral Success Kit and Boot Camp. Check out other "referral experts." Then teach what you know to others. As you learn about getting referrals and pass this information on to others (your colleagues), the ideas get cemented into your awareness and habit base. As you teach what you know to them, they'll share their best practices with you. 3. Are you using an agenda? If you've attended any of my seminars or training sessions, you know I'm a huge believer in agendas for most meetings. An agenda will help the meeting run on time, giving you more time to hold a referral conversation. One of the last items on your agenda should be "value discussion." This is your reminder to ask about the value your prospect or client sees in your work. From here ...

... ." He was right! We don't have the time, energy, or resources to change the Culture of our school. The best we can do is to maximize the results we get inside of the cultural boundaries that exist. To change the Culture of an organization requires choosing one of two steps: Change the people (fire most everyone and start anew) . Change the people (reshape the Roles/Values of those in the organization) . Anybody can fire existing staff. However, few, if any, owners are willing or able to do this — or they can't be sure that they can find replacement players. Changing the values of people is far more difficult. Although the Marines do this well, they're the exception rather than the rule (and they use a Boot Camp model that won't fly in today's business world) . I often use John Kennedy's speech of May 25, 1961 about "putting a man on the moon and returning him safely to earth" as an example of the effectiveness of vision. In retrospect, JFK's genius lay not so much in his Vision as in understanding that this "impossible dream" was doable by changing the values. If he hadn't been able to change those values, we'd still be having committee meetings and congressional investigations and wondering if the moon is really made of cheese. Michael G. Manes can be reached at Square One Consulting, 625 Weeks Street New Iberia, LA 70560, 337-577-3885 (Cell), e-mail [email protected] , or visit www.squareoneconsulting.com . Login or Register (for FREE) to gain access ...

... x No Thanks Loading.. A Tax Bonanza: S Corporations And Esops 4/30/2013 by CompleteMarkets Editor , Robert Nein This content has not been rated yet. A TAX BONANZA: S CORPORATIONS AND ESOPs by Robert Nein The 1997 Tax Relief Act has made possible the best of all worlds for insurance agencies. One could not hope for a better opportunity. There has long been an argument that a sub-chapter S corporation is a better format for agencies. A different camp maintained that a C corporation had the advantage of avoiding double taxation on sale of the agency assets, but the individual income tax on agency owners was higher than the corporate tax. The C corporation has lower corporate income taxes, and if you sell to an ESOP, you can achieve no capital gains tax. Now, the argument is moot. The S corporation can now have an ESOP, and if the ESOP owns 100% of the agency, there's no tax on corporate earnings since the ESOP is a tax-free entity. How can agencies attain this status? Agency owners of an S corporation must sell all their stock to the ESOP to obtain a tax-exempt status. Selling to the ESOP does not mean that the owners give up control of the agency. They continue to manage the agency; the board of directors continues to elect officers and run the company as before. The agency owners pay 20% capital gains tax but are eligible to participate in the ESOP. The ESOP borrows the money to buy the stock, and pays off the loan through ESOP contributions and agency profits (distributions) . ...

... Telephone Skills Mean Success 4/30/2013 by Jack Burke This content has not been rated yet. Nearly 20 years ago, as manager of a growing automotive leasing company, I was researching specialty bus manufacturers to represent. It had finally come down to two manufacturers, either of which would meet the service and pricing needs of my clients in the hotel and car rental industries. One was headquartered in my home state; the other was 2,500 miles away, in California. Based on a telephone voice, I chose the California manufacturer. The sales department secretary had a soft, soothing voice and a tremendous telephone personality. Moreover, she was a great storyteller. If you asked about her weekend, she could rhapsodize about the crisp evening air and star-filled skies encountered on a camping trip to the mountains. Whatever the story, it was always captivating. I invariably looked forward to our telephone chats. Why did this anonymous voice make the final difference in my decision? This woman also fronted as the company's customer service representative. Complaints went to her before being processed to the proper department. Since all clients experience problems at some time or another, I knew that any problem calls would receive a warm, welcoming voice, and that her telephonic talents could disarm the most hostile client. Do your clients and prospects respond to voices or effective telephone personalities when they call your office? Do they hear someone rattling off words like a computer printout, or do they experience the subtle nuances of a pleasant conversational voice? The insurance industry spends millions of dollars annually on education ...

... want a costimator to help determine what it would cost to rebuild your home at today's prices? Do you plan to buy or sell any property within the next 12 months? Do you live in an area that could be flooded? Do you have a smoke detector or burglar alarm system? (please circle) Do you or anyone in your household smoke? (If not, you may qualify for a non-smoker's credit) Would you like to review the current limits and other coverages on your vehicles? If your car was damaged, is it important to have a substitute car furnished for your use? Do you have a stereo in your vehicle, not factory installed? Do you own a boat? If so, what horsepower? _____ Length____ Sail___ Power____ Do you own any camping, travel trailers, motor homes, motorcycles, ATV's or golf carts? (please circle) Do you plan to travel by plane within the next 12 months on a business or personal trip? Would you be interested in discussing life insurance, retirement plans or health insurance? Would you be interested in discussing mutual fund investment or Individual Retirement Accounts (IRAs)? Would you be interested in discussing disability income insurance in case you are sick or hurt? Would you be interested in receiving a quote on mortgage cancellation insurance in the event of premature death, disability or accelerated mortgage payoff? Would you be interested in discussing personal umbrella liability insurance, which would give you increased liability limits and protection above your homeowners and auto policy coverage? (see enclosed brochure) Would you be interested in ...