The Agent Leader: Trap #1 - No Clear Strategic or Financial Plan

This is take 2 on “what keeps you up at night?”. The DIPP crew discusses major industry issues including the rise of vehicle theft, OPCF 49, broker cancellation as a way to manage carrier profitability, embedded insurance, connectivity and technology progress. If that wasn’t dark enough for you, the team also discusses potential existential threats such as earthquake and banking collapse.

In this episode, James talks with Maverick Pitchford, Principal Agent at Bison Ridge Insurance.  Visit https://www.jamesjenkins.com/podcasts/agency-freedom/ to join our email list and catch up on episodes you may have missed. Connect with Agency Freedom on Facebook at the Agency Freedom group: https://www.facebook.com/groups/agencyfreedom Email us at [email protected] with ideas, requests, complaints or suggestions for how we can make the show better. Key Topics: Maverick's transition from a captive agent to launching his independent agency. The unique branding philosophy of Bison Ridge and its commitment to tackling challenges head-on. Discussion on the importance of community involvement and how personal relationships influence business operations. Maverick’s approach to customer service and adapting to clients' needs in a modern digital landscape. The role of technology and AI in enhancing the efficiency and reach of insurance services. Challenges faced in maintaining growth momentum and strategies for continuous personal and professional development. The impact of mentorship and community support in navigating the complexities of the insurance industry.

Check out --> www.permissionproducerschool.com Congratulations! You got hired at your agency. You're now an insurance producer. Ummm, what comes next? Well, that's the dirty little secret of most insurance agencies around the USA and Canada. The problem is that most agencies have no plan for their new producers, and these new producers have no experience in insurance as well as little-to-no experience in sales. And that, my friends, is a recipe for a straight up career-ending disaster! In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will share the basic steps needed for a new(er) insurance producer to write $100,000 of gross commission in his/her first 9-12 months on the job. It's all about creating the sales system for guaranteed success, also known as the Permission Sales Framework. To learn more, go to --> www.permissionproducerschool.com Key Topics: Importance of having a clear minimum revenue threshold to avoid wasting time on small, unprofitable accounts. Understanding how different agencies operate and tailoring your approach based on geographic territory, available markets, and agency expectations. The value of focusing on external prospecting activities and leaving account management tasks to other team members. How to align your efforts with the carriers your agency represents, specifically targeting industries and businesses that match their appetites for maximum success. Strategies for building an efficient prospect list, including gathering key decision-makers’ contact information and renewal dates. The significance of maintaining consistent prospecting efforts, including cold calls, emails, and in-person visits, to steadily build your book of business. Why a solid system for new producers can drastically reduce ramp-up time, aiming for $100,000 in commission within 6-9 months. Reach out to  Charles Specht Visit: Permission Producer School Permission Network Produced by PodSquad.fm

Acquisitions have become a major part of growth in our industry, but without strong organic growth, agencies aren't able to thrive. Harrison Brooks, Partner at Reagan Consulting, joins us today to discuss organic growth. We dive into where you should be investing your dollars in marketing and sales, how to compete with the national players, where there are opportunities and more. Enjoy the episode! Episode Links: Ellerbrock-Norris: https://www.ellerbrock-norris.com Ellerbrock-Norris Wealth Strategies: https://www.ellerbrock-norris-ws.com Reagan Consulting: https://www.reaganconsulting.com LAUNCH: https://getlaunch.io/ Elliot Bassett: https://www.linkedin.com/in/elliot-bassett-aip-cpcu-84499515 Harrison Brooks: https://www.linkedin.com/in/harrison-brooks-4a90aa17 This episode is sponsored by LAUNCH. In the world of insurance, independent agencies fight to survive. Brokers are forced to compete by blocking markets and bid for the lowest price. Worse yet, the industry is fragmented. Agencies find it difficult to collaborate across division on the same client. Millions of dollars in potential revenue are left on the table. And agency owners lie awake at night wondering how to scale. THAT’S WHERE LAUNCH COMES IN. Access the full-revenue potential in your existing book of business. See opportunities other agencies can’t. Offer more value. Gain a competitive advantage in a commoditized market. Visit https://getlaunch.io/ to learn more.

In this episode of the "Stuff About Money" podcast, host Erik Garcia, CFP®, BFA™, ChFC®, welcomes Ian Saunders, Senior Research Analyst for Nasdaq Dorsey Wright. They explore the world of Relative Strength, also known as Momentum Investing. Ian draws a compelling analogy to March Madness, highlighting that top seeds have an 80% chance of winning their games, similar to how strong investments are identified.  Throughout the discussion, Ian explains what Relative Strength is and how it differs from other strategies. He shares insights into the metrics used for measurement, optimal time frames for assessment, and the process of identifying promising investments. They also explore the advantages and limitations of this strategy, its performance in various market conditions, and the impact of AI on analysis methods. Gain valuable insights into how Relative Strength can enhance your investment decisions. Episode Highlights: Ian shares about his experience with Dorsey Wright and the evolution of the firm, especially after its acquisition by Nasdaq. (01:36) Ian discusses what he wishes he knew about money earlier, highlighting the importance of understanding technical analysis alongside fundamentals. (03:24) Ian explains the concept of relative strength (momentum) investing. (07:17) Ian discusses the practical application of relative strength investing in creating portfolios. (10:44) Ian outlines the main advantages of relative strength investing, such as its objectivity and systematic nature, which help remove emotional biases from investment decisions. (18:28) Ian addresses the limitations of relative strength investing, particularly during market conditions where discernible trends are lacking. (22:44) Ian shares his comments on the current market environment and how relative strength strategies have adapted to recent market challenges and opportunities. (24:24) Ian speculates on the potential impacts of artificial intelligence on investment strategies, emphasizing how AI might speed up data processing without fundamentally changing decision-making processes. (33:18) Key Quotes: “Our approach is a little bit different because it looks at these relative strength comparisons to identify which areas have the best momentum.” - Ian Saunders “Relative Strength Investing, RSI, is essentially taking the price movement of two things and see which one wins that game right now.” - Ian Saunders Resources Mentioned: Ian Saunders Nasdaq Dorsey Wright Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors

Brent Kelly sits down with Max Olson of Legacy Advisors, an expert in agency valuation, to discuss the strategies that can significantly increase the value of your insurance agency. Whether you're preparing for a buyout or simply want to boost your agency's future, Max shares key insights on optimizing revenue, streamlining operations, and securing the best price for your agency. Tune in to learn the steps you can take today to enhance your agency's worth and position yourself for a profitable exit. Visit https://www.legacy-advisors.com/ to learn more about their services for insurance agencies Visit https://www.sitkins.com/bookacall to schedule your Best Version Possible assessment.

Do you struggle at scripting, branding, or sitting down to actually do the hard work of prospecting? Most producers struggle at something, and most of us struggle at many parts of the sales process. In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht shares the five parts of his Permission Sales Framework and how selling insurance is like building a house. You have to lay the foundation, build the structure, paint the walls, do the final walk-through, and then get the keys. When you master these five parts of the Permission Sales Framework, you'll become a millionaire insurance producer. Key Topics: The challenge of selling insurance and winning clients in a competitive market. Common struggles faced by insurance producers in appointment setting, scripting, and branding. Introduction to the Permission Sales Framework: A five-part strategy for success. Laying the foundation: Pre-prospecting and preparing for client engagement. Building the structure: Effective prospecting techniques and client acquisition strategies. Painting the walls: Mastering the first appointment and presentation skills. The final walkthrough: Navigating the pre-proposal stage and preparing for a successful proposal. Getting the keys: Closing the deal and achieving the goal of becoming a millionaire insurance producer. Connect with Charles Specht on LinkedIn Visit the Permission Network Insurance Agency, Inc. website for more information and resources.

In this episode, the hosts interview Sean Antao, a partner at EY and leader of the Insurance Technology Consulting arm. They discuss various topics related to Guidewire implementations and broker connectivity. The conversation covers the dominance of Guidewire in the Canadian market, factors affecting the cost of implementations, and the challenges in creating broker connectivity. They also touch on the standardization of API connections, the role of system integrators like EY, and the importance of consistency in connectivity. Overall, the episode provides insights into the world of Guidewire and its impact on the insurance industry. In this conversation, the participants discuss various topics related to insurance technology, including the costs from the BMS, challenges for BMS vendors, the importance of consistency in APIs, implementing Guidewire Cloud, the impact of customizations, the importance of broker input, and the future of insurance technology. They also touch on AI and its potential for straight through processing and the development of AI chatbots and virtual assistants.

In this episode, James talks with Richard Sweet, Owner of Vantage Point Risk Partners. To learn more about Vantage Point Risk Partners, visit https://www.vantagepointrisk.com. Visit https://www.jamesjenkins.com/podcasts/agency-freedom/ to join our email list and catch up on episodes you may have missed. Connect with Agency Freedom on Facebook at the Agency Freedom group: https://www.facebook.com/groups/agencyfreedom Email us at [email protected] with ideas, requests, complaints or suggestions for how we can make the show better. Key Topics: Richard's journey from engineering to owning an insurance agency Challenges of operating within the captive insurance model and the shift to independence The growth and scaling of Richard's insurance agency Importance of selecting the right team members and leveraging individual strengths Richard's approach to business management within the insurance industry

Growing an insurance agency can be done hundreds of different ways. The tools you use to enable your sales team can expedite that growth – if it's the right tool, if it's adopted correctly, and if it's serving a true purpose. Caleb Cramer joins GPP today to talk through sales enablement. It's not about which tools you use – it's about solving a problem or creating efficiency with the tool, no matter which tool it is. And... (drumroll)... Caleb is joining us at LAUNCH to help independent agents everywhere effectively share their value proposition with clients and prospects. Enjoy the episode! Episode Links: Ellerbrock-Norris: https://www.ellerbrock-norris.com Ellerbrock-Norris Wealth Strategies: https://www.ellerbrock-norris-ws.com Indium: https://goindium.com LAUNCH: https://getlaunch.io/ Elliot Bassett: https://www.linkedin.com/in/elliot-bassett-aip-cpcu-84499515 Caleb Cramer: https://www.linkedin.com/in/caleb-cramer This episode is sponsored by LAUNCH. In the world of insurance, independent agencies fight to survive. Brokers are forced to compete by blocking markets and bid for the lowest price. Worse yet, the industry is fragmented. Agencies find it difficult to collaborate across division on the same client. Millions of dollars in potential revenue are left on the table. And agency owners lie awake at night wondering how to scale. THAT’S WHERE LAUNCH COMES IN. Access the full-revenue potential in your existing book of business. See opportunities other agencies can’t. Offer more value. Gain a competitive advantage in a commoditized market. Visit https://getlaunch.io/ to learn more.