Practice management

The idea that marketing is something that companies “do” is so ingrained in the business mindset that it’s impossible to think otherwise. Yet, that’s exactly what needs to happen. It’s true that many marketers enthusiastically avoid the traditional marketing label with energetic efforts to recalibrate their careers. No matter what you call it, pull the curtain back and marketing largely …

One-shot wonders in business are not unlike one-hit wonders on the Billboard charts. Basically, a person starts out with a bang, but is never able to replicate that level of success again. As Andy Warhol once said, “In the future, everybody will be world famous for 15 minutes.” Are you guilty of putting one-shot wonder effort into your insurance career? …

It’s still early in 2014, and now is a perfect time to consider what you can do to add value to your client experience. Chances are, your competition is currently prospecting with your top clients, so you can be sure that a few of them are wondering what value they’re getting from retaining you as their financial advisor. Since value …

Targeting an industry niche is a very effective, yet underused marketing strategy in the financial services industry. It can be hard to create a reputation for yourself when your marketing approach is “shotgun.” On the other hand, when you target a very specific industry niche, it’s fairly easy to elevate yourself to “celebrity status.” Let’s start out with a definition. …

For over a decade, I have been in the insurance business. I’ve worked as an agent, consultant, and sales trainer. And I have seen an enormously-high failure rate when newly licensed agents come on board. Why is there such a high failure rate for new agents, and others that are new to the business? Well, we all make mistakes, so …

A while back, I wrote about becoming a 21st century producer. In that post, I explained how clients are thinking differently now due to technology. They want goods and services faster and more conveniently. As insurance professionals, we have to build an online presence in a now consumer-driven world. We have to change our sales pitches to a more casual, …

One seminar leader opened a workshop for property and casualty insurance agents by asking this question: “Why do people buy insurance?” After the participants offered a variety of responses, the seminar leader said that there was only one right answer: “To take care of claims.” The point is, what seems rather intuitive to most consumers may not be quite so …

Accountability is simply holding yourself responsible for your actions, decisions and performance. As an entrepreneur, you are accountable to no one but yourself. On the other hand, your employees are all accountable to you. Holding a position of power can breed a sense of complacency in you and cause you to make poor decisions which might affect the growth of …

With the Olympics underway, we are hearing from athletes that they want to “peak” for their event. They also are planning out their strategy, checking out who their competitors are, and figuring out how they’re going to use their strengths and abilities to bring home the gold. The same process can be used for financial advisors to create their best …

The industry is changing whether you like it or not. Everything is done online nowadays. Consumers want their products right now. And they want them at their fingertips. Speed and convenience is the name of the game. Today, producers must change with the industry. If you don’t, you’ll go extinct. I’ve heard from hundreds of producers wondering how they can …