5 Coping Habits For When Sales Are Down
Entrepreneurial coach Dan Sullivan has something he calls the “experience transformer” for taking any situation — in life or business — and altering its course to the will of the subject. According to Sullivan, any time something doesn’t go your way you should first ask what went right about the situation, then ask what did NOT work in the situation. Next, if you could go through the same experience again, ask yourself what you would do differently. Finally, create a “Game Plan” for future occurrences.
Sullivan’s formula can work in most any situation, even for the struggling insurance agent. When sales are down — and there will be times — incorporate the following “experience transformer”-inspired tips.
Tip 1: Go back to what is working for you.
If you’re in business as an insurance agent, then something is working for you, even if you have to dig a bit to find out what that something is. In our experience, it’s usually friends, family, and existing clients. What can these people possibly do to lift your business out of the doldrums? Well, they start by lifting your spirits. If positive people are surrounding you, then you’ll feel better about life. If you feel better about life, you’ll do better in business. Aside from that, family and friends can be easier to approach for potential sales. Your existing clients may also be able to provide some additional revenue by purchasing a second policy as needed. Last but not least, all three groups can point you in the direction of possible referrals.
Tip 2: Continue your education — entrepreneurial education, that is.
Be an avid reader and consumer of media that carries with it an entrepreneurial mindset. Aside from the practical sales and marketing tips that entrepreneurs from all walks of life can give that may be applicable to your business, they have a creative energy that is contagious. You can’t consume entrepreneurial media without adopting that mindset of being a growth-oriented forward-thinker. That is much more likely to take your business to the next level than crying in your Alpha Bits.
Tip 3: Make peace with your failures.
In order to overcome failures, you have to acknowledge that they happened. If you can’t do that, then you’re living somewhere that we call the State of Denial. By acknowledging failures, you can find what it takes within yourself to move past them. That may mean replaying that botched lead meeting and scrutinizing the things you did and said to derail any hope of getting the prospect. Painful though it may be, it’s one of the best motivators for getting back up and dusting yourself off.
Tip 4: Generate new leads.
While it can be easier said than done getting good, qualified insurance leads, it is possible. The key is in using a site that will vet the leads for you and not sell them to all your competition.
Tip 5: Be fearless in your marketing and your prospect interaction.
If what you’re doing isn’t working, then do something different. The great thing about failure is that it can give you just the right amount of desperation to step out of your comfort zone and try new techniques for both marketing to and speaking with your prospect. Testing multiple pathways will also help you find your groove and discover what comes naturally so the future isn’t such a struggle.
While every insurance agent will experience a down time in his career, the difference between success stories and washouts, is that washouts fail to discover how they can transform negative experiences. If you want to be a winner, apply the above tips at once.