Reasons Why You Might Not Be Reaching Your Max Potential – Part 1
In the independent insurance industry, many businesses thrive and others barely survive. What’s the difference? Tripping on these common pitfalls could be what’s separating these two groups.
Things That Prevent Independent Insurance Agents from Reaching Success
In the first part of this article, we’ll see three of the most common things that independent insurance agents do, which keeps them from reaching all of their potential in the industry.
Looking for a Shortcut
There is absolutely nothing wrong with wanting to start your own business. In fact, it takes a lot of courage and determination to do so. However, the mindset behind your motivation is what could be harming you.
Becoming an independent insurance agent because you’re looking for a shortcut or a way out of a regular 9 to 5 job, isn’t going to help you achieve your goals. Agents that have this mindset are usually after a type of freedom that allows them to do as they please, even if, by doing so, they’re putting their business at risk. These types of agents usually only reach about 10 or 20 percent of their true potential, causing their business to plateau.
You know how the saying goes. “Nothing worth having comes easy”. This kind of harmful mindset will prevent you from achieving realistic business goals, resulting in frustration and boredom.
Not Thinking of Insurance as a Profession
Any respected professional has put time and effort into becoming one. “Winging it” is not a practice of a top performer in any profession. To become a well-established insurance professional, you’ll need to keep bettering yourself from an industry knowledge standpoint, which will lead you to success. Improvising won’t cut it. Make sure you plan for it and work toward it instead.
Focusing on Selling Products Rather Than Providing Solutions
Captive agents usually have a sales quota they need to reach after a certain amount of time. This makes these agents focus on their sales goal, rather than on the clients’ needs. Independent insurance agents don’t have that pressure and can —and should— take time to understand their clients before selling them anything. That’s what sets them apart from captive agents. Independent agents should be focused on establishing long-term relationships with their clients, in order to generate trust, ultimately leading to business growth.
At AAI, we want you to be prepared to be the best independent insurance agent you can be. Avoiding these things, we will help you stay on track to a successful business. We will share more practices that you should avoid, on part two of this article. Stay tuned.