Nelson Griswold. Scott Cantrell

Transcription

1 Nelson Griswold Scott Cantrell

2 What You ll Take Away The warning signs of an Accidental agency How you can transform your agency into a powerful Commission Machine The three drivers of a Commission Machine The Four Cs of agency design goal setting

3 What You ll Take Away The Seven Agency Success Factors The three steps to an agency design plan The four levels of engagement with outside experts The opportunity to receive a professional diagnostic assessment of your agency

4 The vs. INTENTIONAL Agency

5 Warning Signs of an ACCIDENTAL Agency Lack of written & widely known (and accepted) goals & plans Lack of clarity for each player (account executives, producers, leadership, etc.) Uncertainty related to key metrics (conversion rate, ROI, lifetime client value, etc.)

6 Warning Signs of an ACCIDENTAL Agency Unexpected business surges & fall off High level of stress throughout the agency Consistent miscommunication (externally and/or internally)

7 Warning Signs of an ACCIDENTAL Agency Consistent interruption of leadership Longer sales cycles than necessary The same questions being asked time & again

8 Warning Signs of an ACCIDENTAL Agency Low overall employee morale Lack of consistent sales/marketing training for key players Lack of incentives/disincentives program (rewards/consequences)

9 Warning Signs of an ACCIDENTAL Agency Consistent fear of doing something wrong (not only at the leadership level) Consistently dealing with problem clients

10 COMMISSION MACHINE An intentional agency that becomes a commission-generating machine consistently operating at peak operating performance at peak performance with without you or present. without your direct involvement.

11 COMMISSION MACHINE Pistons

12 Setting the Direction of Your Agency Your specific, written goals determine the direction and success of your agency. Failing to plan is planning to fail. ~ Alan Lakein

13 Powering Your Agency for Success You can leverage the Seven Agency Success Factors to power your agency s success. Success is the sum of details. ~ Harvey S. Firestone

14 Implementing Success in Your Agency Your intentional action is the key to implementing success strategies. Never mistake motion for action. ~ Ernest Hemingway

15 COMMISSION MACHINE GOALS Piston

16 2011 MetLife Broker/Consultant Study Brokers are losing sleep over Maintaining top line revenue 74% Commission cuts to to MLR 73% Attracting/retaining clients 70% 83% actively exploring new business models

17 Setting the Direction of Your Agency Your goals determine the direction and success of your agency. What are your financial goals for the agency? What do you want your agency to look like in five years? In 10 years? How large do you want to grow? What is your goal for your role in the agency in five years? In 10 years?

18 Setting the Direction of Your Agency Four Cs of agency design goal setting Composition Written Specific Measurable Complimentary Complete alignment

19 Setting the Direction of Your Agency Four Cs of agency design goal setting Catalysts Incentives Consequences Care Passion for: Yourself Your people Your clients

20 COMMISSION MACHINE POWER Piston

21 Powering Your Agency for Success You can leverage the Seven Agency Success Factors to power your agency s success.

22 The Gears of the Commission Machine

23 Your agency s success starts with you. What do you do on a daily/weekly basis to educate and motivate yourself? Have you set short, medium & long-term personal goals? What associations do you have on a consistent basis? Are you part of a mastermind-style program?

24 You have to know where you want to go. What are your overall strategic goals with your agency? Do you have a written strategic plan for your agency? Has that plan been reviewed and edited in the last six months? What does your extrapolated tactical action plan look like?

25 Efficiency is the key to fast and easy growth. Have you defined and placed the agency s different specific tasks into an organizational chart? What are your daily challenges with your internal systems? Could your agency run efficiently and effectively without your holding the reins? What lower-value activities are you outsourcing, delegating or automating?

26 Prospecting is the lifeblood of your agency. Have you defined your ideal client profile & target market? What are your current lead generation activities? Offline? Online? Do you consistently have enough qualified prospects coming into your business automatically? Are you able to efficiently communicate with all of your incoming prospects?

27 An effective sales process is the linchpin of your agency. What is your sales conversion rate? What is your current cost of acquiring a client? How long is your average sales cycle? Describe your sales funnel and process.

28 Your clients are the hidden goldmine in your agency. What products do you have available to sell? What is the total lifetime value of an average client? How much of your book is developed from referrals? What is your current cross-selling process?

29 Evaluation is the only way to grow your agency consistently. What are your agency s key metrics? What system do you have in place to measure/analyze your agency s key metrics? Based on your actual results, how do you modify your agency for better results? How often do you review your agency s current situation?

30 Tuning Up the Seven Success Factors in Your Agency Create your agency success plan Strategy Tactics Evaluation

31 COMMISSION MACHINE ACTION Piston

32 Implementing Success in Your Agency Intentional action is the key to implementing success strategies. How will you implement these strategies? Your implementation options: Doing it internally with expert support Bringing in outside expertise Do you have the resources (staff & time) to implement these strategies internally? How fast do you want the results?

33 Implementing Success in Your Agency Take I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; A C T I O N! we must do. ~ Leonardo da Vinci

34 Agency Alignment Matrix Direction + Activity + The Infamous Hamster Wheel Failure COMMISSION MACHINE! Ready, Aim, Aim, Aim, Aim

35 Four Levels of Engagement with Outside Experts LEVEL 1 LEVEL 2 LEVEL 3 LEVEL 4 Group Coaching Private Coaching Agency Design Consulting Agency Design + Build Consulting

36 Your next step?

37 Where is your agency in terms of where you want to it to be? There are no wrong answers. There are no bad answers.

38 Complimentary Agency Diagnostic Assessment ($500 Value)

39 Contact Information Nelson L. Griswold (615)