https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/275/The-Lu-And-The-Torpedo-A-Tale-Of-Two-Producers/
... and focused on how to be the best. As a result, he's built such a reputation that even his competitors now refer business to him. The patience to stick with a good plan and the ability to focus on a single goal enabled the Torpedo to succeed. As Robert Schiller states in Irrational Exuberance, The ability to focus attention on important things is a defining characteristic of intelligence. Because LUs rarely recognize themselves, if you feel you might be a LU (or be managing one), give yourself or your producers this test: My book of business has grown less than 20% in five years. I've been selling for 10 years or more and still don't have a book of $150,000 or more in commissions. I receive fewer than two unsolicited, qualified referrals a ... but like all of us, I sell myself. Because I spend a lot of time with agency owners and producers, I've learned quite a bit about sales. Based on these observations, I believe producers generally fall into four categories: Charisma Maniacs Stalwarts Lazy and Undisciplined (LU) Torpedoes Charisma Maniacs have gifts that others lack. Although I believe that anyone can develop charisma (see Roger Dawson's book, Secrets of Persuasion'), I'm not the one to tell you how. Stalwarts are the people who follow all the sales tapes, read the books, and do their best to do what the tapes and books suggest. They're good people who with some luck might do well enough, but lack the characteristics to become great producers. That leaves two categories. It might seem strange ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/250/%E2%80%98Dedicated%E2%80%99-Agency-Management/
... great, agencies don't always have enough extra fat to cover the extra time and energy required. Just make the right decision, document it properly, and get on with it. MANAGERS WITH AGENCY EXPERIENCE Another alternative is a dedicated manager with years of agency experience, usually as a producer/partner. These people tend to have strong leadership skills and personality traits that fit an agency environment. They rarely get bogged down in paperwork (since many refuse to do anything but the minimum) . On the other hand, former producer/partners tend to have distinctive management issues that must be addressed: Desire to Manage. Managers with agency experience are usually adept at developing relationships and selling. In fact, they usually prefer those activities to managing — which can be a key weakness for a manager ... that they might not have the right personality for running an agency. Understanding and handling these differences from the beginning can help diminish problems down the road. Here are a few issues that I've seen when bringing a manager with company experience into an agency. Sales Ability. A significant issue with former company people as agency managers is that most are not salespeople. At best, some can take over books (and even keep those books intact), but maintaining renewals and making sales are two very different things. The problem with having an agency president who can't sell is that they're disconnected from the lifeblood of what makes a successful agency. Simply increasing profits by cutting expenses is not a sustainable business strategy. In my experience, producers don't respond well to managers who can't sell. People like ...
https://completemarkets.com/Article/article-post/1089/HOW-MUCH-SHOULD-YOU-PAY-YOUR-PRODUCERS-PART-I/
...cies, if they’re honest, can rarely afford to pay much more than 35% new...
https://completemarkets.com/Article/article-post/553/Glass-Ceilings-In-The-Insurance-Agency-Business/
... enjoys most has diminished and he rarely has time to sell or even visit clie...lings and collections. Balancing checkbooks, justifying accounts, and paying ...
https://completemarkets.com/Article/article-post/2309/Producer-Success-Lesson-34/
...ckbrokers responding to the survey rarely ask for referrals. The same study fo...
https://completemarkets.com/Article/article-post/327/What-Does-An-Agency-Owe-Its-Producers/
...
In visiting dozens agencies, I’ve rarely seen these practices. Those few that...
https://completemarkets.com/Article/article-post/1917/A-Back-Porch-Mba/
...ck to town, I saw a bumper sticker rarely seen but always appreciated in this ...as not in the pages of any or all the books we discussed, nor in the classroom...
https://completemarkets.com/Article/article-post/250/%E2%80%98Dedicated%E2%80%99-Agency-Management/
...t fit an agency environment. They rarely get bogged down in paperwork (since ...
https://completemarkets.com/Article/article-post/2562/14-TIPS-FOR-SELLING-IN-A-HARD-MARKET/
... fairly priced, the premium should rarely be an issue. However, if your prospe...
https://completemarkets.com/Article/article-post/1925/CONTINUING-EDUCATION-CE-AT-A-REDNECK-FESTIVAL/
... academics and bureaucracies! They rarely develop significant innovations ...