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Posts Tagged ‘performance’

3 Ways to Reduce Stress & Improve Performance

One of the most important factors to being successful is to make sure that you’re continually improving. Benjamin Franklin said: “Without continual growth and progress, such words as improvement, achievement, and success have no meaning.” The problem is, it’s easy to let your goals slip away without a good plan in place to minimize stress and better your performance.

When was the last time you evaluated your path to success? If it’s been a while, here are 3 things to consider doing in order to help you get there:

#1- Execute a Plan to Protect Your Existing Book of Business

This is one of the biggest stressors that producers face—ensuring that their clients are still feeling connected, engaged and working in alignment with the agency. We often hear, “I’m so busy managing my book of business that I don’t have time to develop new business opportunities.” So, in order to prevent this from happening we suggest that you plan ahead. Determine which accounts drive 80 percent of your revenue, then calendar regularly scheduled meetings with them in order to conduct assessments, establish action plans, and measure the improvements to their business.

#2- Identify and Monitor Your Key Performance Indicators

A few examples of these are research calls, face-to-face meetings, COI meetings, and marketing emails. Most producers don’t block out time on their calendars for anything other than meetings. For example, many will use a free hour here or there to make phone calls, but nowhere on their calendar is there time to follow-up with those prospects…the time spent calling becomes time wasted. So make appointments with yourself to develop thought leadership, send out messaging, and make prospecting phone calls. Just be sure that you are treating the appointments you make with yourself with the same level of importance as those you make with others.

#3- Modify to Stay on Track

Don’t be afraid to modify your plan if it’s not working. Schedule your own performance review time to ask yourself if you’re meeting your goals and what activities should be increased or reduced. And, don’t forget to reward yourself for any growth and improvement that you see.

Define Your Expectations

One of the biggest challenges and frustrations facing agency principals today is the failure of producers to perform. Producer sales goals aren’t being met, pipelines are weak and renewals are increasingly difficult. Unfortunately, most agencies don’t have an effective process in place to enhance producer performance.

There are a number of important strategies that can be incorporated into an on-boarding process or training program for existing producers, but the first step is to define your expectations.

If you’re focusing only on the revenue, you’re not setting your producers up for success. If other, more fundamental expectations are insisted on, then revenues will most likely be met. So, what expectations should you communicate to your team?

- Adhere to a sales/agency culture. Without a doubt, producers who are the most destructive to agencies are the ones who erode the agency brand. Failure to communicate the agency’s value proposition and follow the sales process can lead to decreased differentiation and confusion in the marketplace.

- Work only with right-fit clients that the agency has the capabilities to service effectively and consistently. Producers that use resources on deals that aren’t likely going to close or are a poor fit threaten the foundation of their agency.

- Develop and execute action plans to reach objectives and grow professionally. Producers who are expected to include performance activities on their calendars such as phone calls, first appointments, messaging campaigns, and networking opportunities are more likely to perform well.

“Our environment, the world in which we live and work, is a mirror of our expectations.” – Earl Nightingale