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...e time to decide which fork in the road you should take: Do I sell the ...sion from The National Alliance for Insurance Education and Research.

... comfort zone. The insurance business is a great one – and you take pride in the protection and peace of mind you bring to your clients, and the income you provide to your family. However, now's the time to decide which fork in the road you should take: Do I sell the agency and retire or become a producer for someone else? or Do I put a plan in place and grow my agency so I can maximize its future value? You're in the driver's seat! If you decide that ... larger Commercial accounts in the past? Maybe it's time to write more small- to medium-sized accounts and businesses, so you can diversify your portfolio if carrier strategies change (something we've seen happen regularly) . Do you need to spend more time on the Personal lines side of the business? Have you effectively multi-lined your portfolio? What are other successful insurance agencies doing? This will depend on market demand, both short and long-term, and your agency's ability to change with these demands. Agency Productivity and Effectiveness After completing your " ... discussed in your overall strategic plan. Because your agency is probably the largest asset in your personal financial portfolio it's critical to have a written plan with highly specific action strategies. If you don't know where to begin or think you need help, find a facilitator to assist you. Just make sure the person you hire is knowledgeable about the insurance industry. However, the real key to success in increasing the value of your agency over time is the ability to implement and execute these action plans. Never underestimate the value of measurement ...

... sitting in a waiting area. Coffee or tea should be offered if it is reasonably convenient to do so. This tells clients that they are important and that the agency wants to help them. It also makes the client feel good-and starts him or her on the road to being an advocate. You may also want to expand your renewal processing to include a "How are we doing?" questionnaire asking the client to rate agency service and communication. The questionnaire should be returned to the agency principal or manager. Have the ... the home office at least once a year, and get the local branch or regional office of the company to set up your visit, so that you are able to talk to some important corporate people. Don't assume they know anything about you. On the other side of the coin, if you are unprofitable with a carrier, you need to know why. Analyze and consider those for whom you have produced less than desirable results. The problems may be yours or the carrier's. Many carriers have taken a short-term approach to ... this for the last five years, breaking the list down between Commercial and Personal lines. 6. If you do not generate 15% of revenues from cross-selling Life, Disability, Health, and long-term care products, contact your carriers to find out what kind of assistance they can provide in improving this revenue without increasing your expenses. 7. Determine which of your carriers have preferred agency contracts, and develop a proactive plan to qualify for every one of them you can. 8. Measure your producer's overall activity rather than premium ...