There comes a point in your career that you’re ready to take your insurance sales practice to the next level – you want to work with more affluent clients on larger more complex cases.
The question is how do you manage your current block of business and expand your practice into a new market?
When you hit this stage of your sales career, it is time to consider your staff. If you’re still personally doing your new business and service work, you may want to consider bringing someone into your practice to focus on that end of the business. This could be a staff person that you add to payroll or you could bring on a junior agent to service your existing clients – and work with them on their additional needs – while you focus on expanding your practice.
Once you decide how to take care of your current customers, you can focus on building a business plan to grow your practice. The best way to build your business is to find a specific market and become one of the best in it.
Just like when you first started selling, you have to be willing to put in a lot of hours and devote yourself to becoming as educated as you can. Focus on gaining as much knowledge as possible on the strategies that serve the market you want to be in. Find your niche, and become an expert. Knowledge is key because it builds your credibility.
If your plan includes working with business owners, become well versed in the tax laws and deductible programs like qualified plans and Section 79 plans. Show a prospective client how they can save tax dollars and they will listen to you.
Once you have a plan, You need to meet the right people. Get out there and build a network; serve on the board of directors for charitable organizations, and be involved in as many groups in the community as you can.
Many successful agents credit their success to the relationships they have formed with their clients’ trusted advisors. So market yourself to advisors and CPAs. Ask your existing clients who their CPA is and make a plan to meet with them to inform them of the work you do and explore how you may work together.
Lastly, make sure the company you sell for is aligned with your plan. Do they offer marketing and training programs to help you break into the markets you want to be in. Do they have a strong Advanced Sales team that can be your back office when your client’s advisor has technical or tax related questions that you can’t personally answer?
You can achieve the next level if you dream big, work hard, stay focused and surround yourself with good people.