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..., each sales opportunity is like a horserace--one winner and many losers. In an agency you have racehorses, workhorses, Shetland ponies, show horses, geldings and thoroughbreds. Unfortu... of your stable because your real racehorses and workhorses will resent them and may underper...

... Are Racetracks Sustainable?4/30/2013 10:42:47 PM by CompleteMarkets Editor , Michael Manes This content has not been rated yet. ARE RACETRACKS SUSTAINABLE? by Mike Manes Although Insurance middlemen continue to do well, the landscape has already changed. If the industry doesn't adjust now brokerages will fall behind. In a recent article, I compared insurance producers and production to racehorses and horse races. Let's continue with this metaphor and ask a few more questions worth considering, regardless of your role in the insurance industry. Is your "racetrack" sustainable? Is there a better way? In the future, will the people (niches) you serve still spend time and money at your "clubhouse" or "betting window?" Horseracing might be the sport of kings, ... we're no longer a monarchy. Today, some racetracks have closed, others are struggling, and some are successful because of subsidies from slot machines. Tomorrow, EA Sports or some other videogame magician might create virtual races with folks betting from their La-Z-Boy via PayPal. Our world today is far more democratic and less autocratic. The global economy, the Internet, and the knowledge and information that it delivers have created sophisticated consumers with unlimited options. Such a new world of consumers will define the industries that serve them and not be defined (held hostage) by traditional methodologies. Although racetracks might always be a niche, this won't be enough to sustain the traditional methodology that has developed through the decades. Racetracks must change. The insurance industry must adapt and change. In his classic article, ...

...ce producers and production to racehorses and horse races. Let’s continue with this...deogame magician might create virtual races with folks betting from their La-Z...

... Do I need to bond every single one of my employees to make certain I'm protected? ' The subject of bonds can seem complex, but at (Yo.. All Articles by CompleteMarkets Editor Comments (0 ) All-Risk This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:37:32 PM ALL-RISK Dear (Customer Name): You don't know for certain which horse is going to win the Kentucky Derby, or which stock will double next month. You can never be certain about what the future will .. All Articles by CompleteMarkets Editor Comments (0 ) Annuities This content has not been rated yet. CompleteMarkets Editor 5/5 /2014 12:00:00 AM Dear (Customer Name): What can guarantee you income for life? Only ... All Articles by CompleteMarkets Editor Comments (0 ) Annuity Plan This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:37:10 PM ANNUITY PLAN Dear (Customer Name): Picture this: a warm climate . . . long breakfasts in the mornings . . . golf all afternoon . . . vacationing with the children . . . and no more 8-to-6 rat race! .. All Articles by CompleteMarkets Editor Comments (0 ) Apartment Owners - "How Many Hats Do You Wear?" This content has not been rated yet. CompleteMarkets Editor 3/25/2014 12:00:00 AM Dear (Customer Name): HOW MANY HATS DO YOU WEAR? Many apartment owners find themselves saddled with more work than they bargained for.. All Articles ...

...ing how to do it. At one time, the horse defined a market area, then the stree...

... , someone else may get the order. Be sure to come at prospects and customers in a variety of ways that grab attention quickly and powerfully. Extend your territory. Anyone who says, We don't go farther than a half-day's drive' is doomed. The task today is to figure out ways to capture more business, and that means finding how to do it. At one time, the horse defined a market area, then the street car, the car and the airplane. Now the Internet has abolished all parameters. Where you are is not nearly as important as what you are to a customer. Stay on course. We're easily bored today. Perhaps the culprit is information overload. Whatever the cause, the effects are felt in businesses. Everything's short-term, and even short-term gets ... who look alike are alike to customers. The task is to find distinctions that make a difference to your customers, and to stress these in everything you do. Schick, the No. 2 razor company, emphasizes a safe shave, an issue that's particularly important to teen and African-American males, who tend to be prone to nicks, bumps, and ingrown hairs. While Gillette wins the close-shave race, Schick goes after niches where safety is an issue. Use your sales staff effectively. Although salespeople can display primadonna-like behavior and even a certain amount of arrogance, they are right when they complain about much of what they're asked to do. Rather than spending time cultivating prospects, servicing existing customers, and building relationships, they are expected to cold call and locate new prospects. While every ...