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January 11, 2019 at 08:50 PM
A great number of the producers I’ve talked with over the past few years are either doing all their own paperwork and administrative work or have much less help than they need. All of them tell me that the more money they try to make, the more time-strapped they feel.
Most freely admit they hate that part of the business. With each new case comes paperwork, follow-up, underwriting issues and other administrative jobs that don’t make them money and are tedious.
(Related: All Great Success Stories Begin With Failure)
I often tell these producers to hire and pay an assistant, even when it seems like they can’t afford it or take the time to train someone, etc.
Imagine you’ve opened a convenience store and decided to save money by not hiring help. Forget the long hours you’d be working by yourself, because as a producer you can control that. But imagine that you’re at the register, handling the lottery machine, taking in orders at the back door, helping customers on the floor, stocking shelves, doing the books, and more — all alone.
That’s what it’s like when you try to grow your insurance production without adequate help. So, there’s a logical business reason to get yourself help, even if you think you can’t afford it. But there’s also a side effect of getting help. When you use your hard-earned money to buy yourself more time, you end up with a greater sense of well-being.
Sandy Schussel has been a coach and practice development consultant for insurance and financial professionals for the past 20 years. He is an approved MDRT coach and has served as the national sales training director for First Investors and Foresters. He is the author of two books, 