4 Tips For Systemizing Your Insurance Business

. There is quite a difference between a business owner and a sales producer. Even though both need entrepreneurial skills to succeed, one sets the business up to be a success, while another’s success is determined by how much time he puts into it. When you enter the insurance business, you can go one of two ways — full-time producer or business owner. Neither role should be disparaged. They both need each other to succeed. But most would rather run a business that can get along without them for a while than one dependent on them getting up every day, getting ready, and showing up. In other words, the sooner you can separate your earnings from your time, the better off you’ll be! But to get there, you need to stop thinking about “showing up for work” and start thinking about creating systems. Systems can operate without direct contact. Here’s how you can make that happen.


1. Any time you learn anything, write out what you did step-by-step.

There is a lot of talk in the productivity world about “time multipliers.” Obviously you cannot physically add more time to the day, but you can take steps to get more productivity out of what you have. The way to do that is to document all the essential information needed to run your business. As soon as you land a client, make note of everything you did to get a “yes.” Repeat this process. Refine it. Try to spot patterns in both the positives and negatives. Once you have it where it needs to be, teach it to someone else. They may not be able to produce what you produce right off the bat, but by teaching them your processes, it’s only a matter of time before they can. Lather, rinse, repeat, and before you know it, you could have a team of agents bringing in revenue.


2. Get feedback from your clients.

Positive and negative feedback — it doesn’t matter. You need to know what your clients think about the products and services that you offer. This is the only way to diagnose areas that need yours or your employees’ attention, or areas that you need to be doing more of. No system can be complete until you have a good idea of how it’s working for the people that it’s meant to serve. So seek feedback early and often, and if someone is happy with what you’re doing for them, don’t forget to ask for a testimonial and referral. These are vital to your marketing efforts, and it’s effective marketing that creates a system for generating quality insurance leads.


3. Learn how to delegate.

Building something from the ground up is, on the one hand, gratifying and deserving of your pride. However, it can also become a trap where you convince yourself that no one else can learn how to do what you do. When that happens, you end up doing all the work yourself. And here’s the problem with that. Say you’re a great salesperson, but you’re only a fair marketer, and you’re a lousy accountant. At some point, your insurance business is going to hit a brick wall because you need all of those things to function and grow, and you only do one of them really well. Learn to let go of as many areas of your business as you can. If you’ve followed step one, then you’ve already got everything you need in place. All it takes at that point is a mindset shift.


4. Encourage others to create systems of their own.

This is the next natural step from delegation. Once you learn to let go of certain duties, you also eventually have to let go of your at-all-times, by-the-book mentality. Sometimes you do have to follow things to the letter, but other times, there may arise simpler and more productive processes. If your employees are right for the position — and they should be since you learned delegation in step three — they’ll know when to follow and when to adjust. You just have to trust that they’ll do that, and even encourage them to make changes on their own when they find a better way of doing something.


In Summary

Systems are where business growth begins. They are what allow you to go from successful insurance agent to successful business owner. Don’t take them for granted. Apply the steps above and watch how they transform your company.

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