Happy Monday to all who are reading today’s message. As I prepare to start this week, I wanted to share something with you that was shared with me today around my business that I believe you may find valuable.
How often do you find yourself saying this, “My Company is too expensive or I am uncompetitive.” As a person that works with and directly Coaches 40 Agency Owners and communicates with 1000’s more, I hear it quite often. I choose to be empathetic (understand your feelings but do not necessarily share them) versus sympathetic (share the feelings with you). As a leader this is what you must choose to be and if you are an Agency Owner you must take this stand as well, for two important reasons.
- Understanding your team’s feelings is important but sharing in them is detrimental to your Business
- Unless you clearly evaluate all the facts, you cannot 100% EVER say you are uncompetitive. UNCOMPETITIVE MEANS YOU CAN NEVER WIN AND THAT IS JUST NOT TRUE.
So let me explain, I understand Insurance Agencies it is not always easy and there are times (maybe right now) that you are not winning as much as you would like. Yet, I share with you today what was EYE-OPENING to me and led to this conversation today. It was published in my operations that we HAD A CLOSING RATIO FOR THE MONTH OF JULY OF 33.5% WHAT!!! You mean to tell me that the Agency Owners that I work with closed 1 out of 3 Proposals they made in July? (actually a bit better than that). It is impossible to tell me, “My Company is too expensive or I am uncompetitive.” Perspective provides possibility!
THOUGHTS TO PONDER TODAY: Are you guilty of being that person above? Why are you that person and have you looked at the reality? Have you presented proposals to 1.7 prospects per day and determined, you are uncompetitive? If my math is correct 33.5% of 1.7 Proposals is only .57 of a Sale (BTW we don’t sell .57 of an Insurance Policy). Is your sample size too small? Do you need to increase your skill set because your closing ratio is well below the average of 33.5%? The easy way is to blame your Company, your Product (both things you cannot control) versus blaming yourself and your inability to market and/or increase your skill set. Lastly, if you can face the reality that you have some ownership in your results, where can you turn for help? Is there a Coach, Mentor, or Peer that can help improve your skill set and ultimately improve your results!
John Lucero, is a successful business owner with over 20 years of experience in multi-line insurance agency operations for several major National Brands. With an expertise in Recruiting, Educating, Coaching, Developing and Product Knowledge, his passion and drive to ELEVATE Insurance Agencies to higher levels of success is what keeps him inspired about the future and motivated about making a difference.
