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... after his 21st birthday, he moved from his parents' home with a gift from his father, a high-powered rifle, with the warning that he must only go shooting with other, more experienced hunters. "The young man, as most young men do, felt that he had the skill, the talent, and the education to hunt, and that the older hunters would just take the trophies (and the glory) . So he decided to go elephant hunting on his own. After all, he'd been on six expeditions and had bagged game every time. The others knew that he had promise. Now he would show them that he was ready to be their equal. "After a few days in the wilderness, he came upon a perfect target, a mature elephant feeding ... , toll free, fax (856) 779-6224, e-mail [email protected] , or visit www.agencyconsulting.com . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...

... much because of poor due diligence and don't get the expected value. You may buy a book of business because it contains a lot of underdeveloped accounts you plan to leverage. But maybe there's a good reason those accounts are languishing-and if they can't be maximized, the buyer probably overpaid for the book. PITFALL NO. 6: POOR INTEGRATION Agents by nature enjoy playing the game more than polishing the trophy. This instinct serves them well in sales, but it can be detrimental when it comes to buying or merging with another agency. Whether it's simply a book of business or an entire agency staff, integrating a newly acquired entity with an existing one takes effective management. Differences in such things as organizational cultures, operations, procedures, and computer systems can lead to friction and possible meltdowns. ... WA 98185, (206) 545-5932, fax (206) 545-5651, E-mail [email protected] . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...

... motivational program must be individualized for each producer but it is also important to tie the fortunes of the salespeople to each other and to the success of the agency. This is where the sales contests come into play. Have a number of different programs going at once, some that are monthly, some quarterly, and at least one that is an annual contest. Rewards can range from a traveling trophy, a weekend in a nearby city, the right to go on an insurance company bonus trip, a 4 or 7 day cruise or ski trip, a monetary bonus. Criteria for winning' can be the producer (or team) with: the largest percentage of growth; the highest commission dollar increase; the highest number of new accounts written; the best hit ratio of written/ ... had hoped for. This article was reprinted with permission from Carol Hammes, editor of the Middleton Letter. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...

... ,000 of annualized first-year commissions during the particular month. Send a press release and a photograph of the agent to local newspapers. Make copies of the newspaper article and send them to the producer's top 50 or 100 clients. Agency Dedicator Program-This program provides recognition each month to those producers who, during the month, produce $5 ,000 in annualized first-year commissions. You can present an engraved trophy to each agent who qualified as a "dedicator"eight times or more in one year. New Producer Club-Organize a special club for trainee producers. If the trainee pays for 12 cases or more in a month, the producer and spouse will be your guests for a gourmet dinner. This also helps the new producer's spouse get better acquainted and feel a part of the agency. Lead-Day Participants-You ... low production, high staff turnover, and failure and record volume, high agency loyalty, and success. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...

... compensation and motivational program for each employee, it's also important to tie their fortunes to each other — and to the total agency's success. This is where sales contests can come into play. Hold a number of different but simultaneous contests: some monthly, others quarterly, and at least one that's annual. Include service and support personnel in the spoils as well. Rewards can range from a traveling trophy or a weekend in a nearby city, to a cruise or a ski trip. Criteria for winning could be the producer or team with the largest percentage or commission growth, the highest number of new accounts, or any other measurable item that can be tied to sales success. Many agencies have instituted sales programs that don't seem to motivate producers, leading them to decide that contests aren't a ... respected management consultants. She will be sorely missed. Reproduced, with permission, from The Middleton Letter. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...

... figured what the annual, monthly, and weekly production in Personal and Commercial Lines should be for this producer to reach his goal. A WORD ON PERKS AND INCENTIVES In a recent survey called People, Performance, and Pay, ' the American Compensation Association found that 56% of 657 companies used non-cash incentives to motivate their salespeople. The majority said they used non-cash rewards for: l. their trophy value' - since employees are much more likely to show off a new car, a TV set, or photos from a trip than a large cash amount - and.. 2. their staying power-since the winner will look at the prize for some time to come and remember how and from whom it was earned. In addition to producers' compensation packages, there may be time when additional ... is to define attainable goals and determine a method of compensation that rewards your staff for meeting those goals. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...