Happy Humpday and hope that everyone is having a great week.
Today I bring you some insight and the greatest benefit and the greatest challenge of every business….IT’S PEOPLE! The Insurance Industry and your Insurance Agency are not exempt, the strength of your people or the lack thereof will be a direct reflection on the results of your business.
The challenge I see in most Insurance Agencies is that there lacks a system to know if their people are a Cost Center vs. Profit Center. Your employees, team members and/or staff members no matter what you call them will be your biggest cost in your Agency (or your biggest investment). Yes, they are people with emotions, personality, personal lives and families etc. YET as a Business Owner it is your responsibility to eliminate the Personal side of that relationship and look at those people as your largest investment in your Business.
If your largest investment in your business is your PEOPLE, it is vitally important that you train, educate, motivate and lead those people. Also, as a Business Owner you need to establish the expectations clearly and precisely for your team and hold them accountable to your expectations. Day after day I see Insurance Agencies where the staff have been there for multiple years and have no expectations, targets and continue to stay employed and receive annual raises FOR TIME SERVED, NOT RESULTS IMPROVED!
THOUGHTS TO PONDER TODAY: Evaluate your current teams, if I asked them without you present, “what are your expectations today and how would you know if you were successful today” WHAT WOULD THEY ANSWER? This question lets you know if you have clearly defined the targets of your Team Members. Can you quantify the results of your Team Members? You are in a Sales/Commission based environment, DON’T YOU THINK YOUR TEAM should have a taste of that in their compensation as well? 2019 is around the corner….if you set a goal to increase your business 25%, what would that mean to the results of your team? What would they need to do to get you there? Can it be easily defined and clearly actionable? If not, I assure you that your Team Members are Cost Center and not a PROFIT CENTER!
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.
