PRODUCER-RELATED ISSUES
By Michael J. Weinberg
Keeping New Year's resolutions can be easier with a coach
Joe Willie Namath was not a multi-talented football player. He couldn't run, block, tackle, or kick a football. His knees were bad, and some questioned his training discipline. But could he ever throw a pass! I remember staying up late many times to watch him on Monday night football, just to see how many yards over 500 he would throw that night. Despite having just one key skill, he signed an unprecedented $400,000 contract with the New York Jets after playing for four years under the legendary Bear Bryant at the University of Alabama.
I bring up Joe Namath because he is the epitome of a success story for an individual who not only couldn't do it all, but who could do only one thing very well. I relate to Joe Namath, not because I can throw a football with his skill or even because I have ever shown any athleticism at all in my life (although I do have bad knees like Joe). No, I relate to Joe Willie because the older I get the more I realize that professionally speaking, like Namath, I really do only one thing very well and that one thing is generating income through sales and acquisitions.
For most of us, the problem with being an independent agent, is that we are still a one- or two-management person show and believe we have to do it "all." We suffer from a "Superman" or "Superwoman" complex. Rather than delegate that which we really shouldn't handle because of time and/or skill restraints, we all too often try to have our hands in everything in the agency. This is a problem for all levels of agency staff, and especially for those of us in sales.
I constantly come up with ideas about managing the agency and servicing our customers, and sometimes they are even good ideas. My partner is always gracious enough to assert that he thinks I am an invaluable asset to the management team. While I do enjoy being involved in the running of our business, what I really enjoy most is selling insurance and acquiring agencies. In short, generating income.
Where I believe that many producers have a problem is when they try to be all things to all clients. Let's face it: The personality style that allows us to be good salespeople and risk managers typically precludes us from being good at paperwork and day-to-day client service. Even after 30-plus years in the business, just the other day I tried to take some new car information for a VIP client and forgot to ask half of the important questions. I am a terrible customer service representative, and I am not ashamed of the fact that I have to turn over most routine service calls to those who are better able to handle the task.
Improve and reinvent
In my own small world, I constantly try to improve and reinvent myself. I always make annual resolutions to improve my performance and my worth to my agency. For 2004, I am committed to becoming an even better generator of income. As in most agencies, my partner and I led the agency last year in income generation; but that doesn't mean I can't get even better.
While contemplating this goal, I decided to look at other areas of my life where I had attained success. Two years ago I decided to become more fit. In prior years, I had joined any number of gyms and rarely made it through to the renewal period with anything other than spotty attendance. Then I hired a personal trainer, and pretty soon I was lifting weights heavier than I ever thought possible for an overweight, middle-aged man.
Since college days of overdosing on beer and pizza, I have battled being overweight. This past year I resolved to lose weight once and for all. Over the years I have tried every fad diet known to humankind, from a 40-day fast to Atkins. Over my adult life I have probably lost 2,000 pounds and put every one of those pounds back on. Then I hired a professional weight coach and lost almost 50 pounds this year.
When I decided to focus on increasing my sales this coming year, I decided to hire an executive coach. History has taught me that to do my best in attaining the most challenging goals, I need the discipline of a coach or trainer and the weekly if not daily responsibility of reporting my progress. It only made sense, therefore, to hire an executive coach to help me reach even higher levels of sales success.
I had always thought that executive coaches were: (1) very expensive and (2) not for me. I once looked into a national coaching firm, and it wanted a six-figure fee to coach me one hour a week for six months!
I decided to do my own research and found a young woman with extraordinary skills in psychology and marketing who has turned out to be the ideal executive coach. She began the process by spending a solid day in my office following me around to get a first-hand feel for what I do, how I do it, and, most important, how I can improve what I do.
We established and quantified half a dozen goals for the coming year that I believe she can help me achieve. We established a specific game plan for each goal and set aside an inviolate time for a one-hour phone conference once each week to discuss my progress, where I am succeeding, and, most important, where I am struggling and need help.
Accountability and support
The process is terrific. It makes me accountable each week for the goals I set for myself--a discipline I often need. Further, it gives me the opportunity to share my experiences with someone who I know will not be judgmental. My coach offers advice and constructive help but never criticism.
As to cost, it is much more reasonable than I originally suspected. The price each month is far less than I will generate in commission income with just one additional small sale each month. I think of the cost as an investment, not as an expense, and it is worth every penny.
I can't guarantee that the coaching process will make me a better salesperson--but so far, so good. I am determined, like Joe Namath, to take my one best skill, capitalize on it and, most of all, enjoy it. Would the Jets have signed Joe Namath if he had been coached by any less than the legendary Bear Bryant? Would he have been as skilled and as sought after if he had been trained by a lesser coach?
As the year goes on, I'll share with you my progress in this endeavor and, as always, invite your comments regarding a mentor or executive coach you have used successfully.
I hope that 2004 is a happy, healthy, peaceful, and prosperous year for all of us! *
The author
Michael J. Weinberg, a nationally known columnist, speaker, and seminar leader, is the managing partner of Gateway Insurance Agency, where he spearheads the agency's marketing/sales and automation efforts. He invites reader participation and feedback through his e-mail address (mweinberg@gatewayins.com).