Becoming a Professional and How It Transformed My Insurance Sales Career

“We win our games in practice. We learn and follow the fundamentals of our game better than anyone in the league.” - Vince Lombardi

The Beauty of the Insurance Industry: Unlimited Potential

The beauty of the insurance industry is that each and every one of us is an entrepreneur—or as some would say, an "intrapreneur." Being an entrepreneur means that there are no limits to how much we can produce and earn.

Think about what this last statement truly means. No limits on our earnings. That's awesome. For some reason, though, most producers don't seize full control of this fantastic opportunity.

I believe it's due, in part, to the fact that they don't approach their career like a true professional. In every profession, regardless if it’s law or sports, the true superstars put in tremendous time to prepare and practice their routine.

Can you imagine a pitcher stepping on to the mound to throw the first pitch of the world series without warming up? Of course not. The stakes are too high.

But most producers do just that. They hop straight out of their car or onto a call without doing the necessary work that is required to win before they show up.

Becoming a True Professional: The Power of Purposeful Preparation

My journey in becoming a true professional in this business wasn’t an easy one. At first I had no process to follow. I made my share of mistakes along the way, but with each ass kicking I documented a better way of doing things that I added to the process.

I spent an average of four hours preparing and practicing for every hour I had planned to spend with a client or a prospect.

Before I knew it, the purposeful preparation I put in and dedication to following the process paid dividends both financially and in the hours I got back in the day to do the things I loved with people I cared about.

How I Increased Referrals

A part of my process was strategically increasing referrals. I met with like-minded professionals in other industries like CPAs, bankers, and attorneys. When I’d meet with them, I’d explain my sales process along with specifications around who we thought we could have the biggest impact on and help the most.

A Turning Point: The CPA Referral

Several weeks after one of these meetings, I received a call from my CPA. He said he had a client that could benefit from our services. The client was working with an out-of-state broker. They felt that no local broker could possibly handle and support their needs. Then he paused for a beat and said, "But..." "But, what?" I said.

"But, Jerry, I have to warn you. If you're not prepared," he told me straight up, "when you meet with him and his team, you won't last fifteen minutes. They're very direct. They don’t want to waste any time. If you can’t show them immediately you can manage their account, they'll kick you out in a heartbeat." He took a breath, adding, "Take your 'A' team with you. They want the broker to handle all of their risk management needs."

I assured him that we could handle it and he wouldn’t regret referring us the business, so we set a meeting time and place for the following week.

Assembling the "A" Team

The following morning I chose a team I knew would prepare and practice. There was my account executive, an employee benefits specialist, an investment-retirement specialist, and myself.

That day we met for two hours. We discussed our overall strategy and learned as much as we could about their business and this particular project. After that, I asked everyone if they felt we were successful in making any headway in being of benefit to the prospect. The answer was a resounding no.

The Road to Confidence

We all felt if we had to walk up to that prospect at that moment we would fail terribly. We met the following day and practiced and prepared for another two hours. How did we do? We all agreed we were making progress, but not nearly prepared enough to meet with success.

The following day we met again for two more hours. Once we completed this, we felt, as a group, we were 80% confident. So we met for a fourth day as well. That’s when things really began to mesh. We were confident. We were ready.

The Big Meeting: Success Through Preparation

Three days after that, we met with the CPA who had referred us and the prospect. The meeting went very well. We worked as a team and stayed focused on their needs. Within a week, they hired us and assigned all of their existing coverage to us. The annualized revenue was greater than $400,000.

We all learned a valuable lesson from this meeting: purposeful practice and preparation are key. Amateurs hope to acquire great clients, but professionals know they will because they've performed whatever legwork it takes.

Is It Worth It?

Now, I'm sure there are more than several of you reading this wondering if the time we invested in this client was worth our time. Aren't we still merely giving away for free what many call value-added services?

Here’s how the math turned out. We were a four-member team. We had four sessions at two hours each. That equals 32 hours. Thirty-two hours of purposeful practice. Divide this by the $400,000 revenue we can expect to receive. That comes out to $12,500 per hour per person. Perhaps not such a bad investment of our time and energy after all.

Whatever It Takes!

Now that I look back at my successes throughout my life—whether they were in sports or business—I can see one common thread running through all of them. My success depended on the amount of time I was willing to invest in purposeful preparation. My success depended on the amount of time, in other words, I was prepared to practice.

The more practice and purposeful preparation I invested, the greater my chances of succeeding.

Are you ready for the next step in your journey?

Our programs are designed to elevate the performance of insurance sales producers and agencies just like you to gain Greater Freedom, Lifelong Sustainable Results, and a Bigger Future.

Becoming a professional in the insurance industry requires dedication, preparation, and a positive mindset. By embracing these principles and putting in the necessary effort, you can transform your sales career and achieve outstanding success. Remember, the more you invest in purposeful preparation, the greater your chances of success. Now, take action and start implementing these strategies today. Click here for more insights and resources.

Let's embark on this journey to sales mastery and exponential results together.

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