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Scott Cantrell Nelson Griswold
Scott CantrellNelson Griswold
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
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
The
vs.
Agency“INTENTIONAL”
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.)
Unexpected business surges & fall off
High level of stress throughout the agency
Consistent miscommunication (externally and/or internally)
Warning Signs of an ACCIDENTAL Agency
Consistent interruption of leadership
Longer sales cycles than necessary
The same questions being asked time & again
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)
Warning Signs of an ACCIDENTAL Agency
Consistent fear of doing something wrong (not only at the leadership level)
Consistently dealing with problem clients
Warning Signs of an ACCIDENTAL Agency
COMMISSION MACHINE
An intentional agency that becomes
a commission-generating machine
operating at peak performance…
with or without you present.
An intentional agency that becomes
a commission-generating machine
consistently operating at peak
performance…with or without your
direct involvement.
COMMISSION MACHINEPistons
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
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
Implementing Success in Your Agency
Your intentional action is the key to implementing success strategies.
Never mistake motion for action.
~ Ernest Hemingway
COMMISSION MACHINE
GOALSPiston
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
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?
Setting the Direction of Your Agency
Four Cs of agency design goal settingComposition– Written
– Specific
– Measurable
Complimentary– Complete alignment
Setting the Direction of Your Agency
Four Cs of agency design goal settingCatalysts– Incentives
– Consequences
Care– Passion for:
• Yourself
• Your people
• Your clients
COMMISSION MACHINE
POWER Piston
Powering Your Agency for Success
You can leverage the Seven Agency Success Factors to power your agency’s success.
The Gears of the Commission Machine
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?
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?
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?
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?
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.
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?
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?
Tuning Up the Seven Success Factors in Your Agency
Create your agency success plan
Strategy
Tactics
Evaluation
COMMISSION MACHINE
ACTION Piston
Implementing Success in Your Agency
Intentional action is the key toimplementing 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?
TakeA C T I O N !
I have been impressed with the urgency of doing. Knowing is not enough; we
must apply. Being willing is not enough;
we must do.
~ Leonardo da Vinci
Implementing Success in Your Agency
Agency Alignment Matrix– Direction +
–A
ctiv
ity+
The Infamous Hamster Wheel
Ready, Aim, Aim, Aim, Aim…Failure
COMMISSIONMACHINE!
COMMISSIONMACHINE!
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
Your next step?
Where is your agency…
in terms of where you
want to it to be?
There are no wrong answers.
There are no bad answers.
Complimentary Agency Diagnostic Assessment
($500 Value)
