The Ultimate Insurance Professional

Rules of Engagement

danweedin — Mon, 30 Aug 2010 19:43:09 +0000

Like many people, professional golfer Jim Furyk uses his cell phone as an alarm clock. Because of it, last week it cost him a double-bogey!

Furyk’s alarm didn’t work and he overslept, causing him to miss the start of the pro-am portion of the Barclays Classic. The penalty? He was disqualified from the tournament. Now, as absurd as I believe this rule is (the pro-am portion doesn’t count towards the regular competition – it’s just an exhibition), Furyk knew the rule. His breaking of that “rule of engagement” probably cost him tens of thousands of dollars from the tourney and the Fed Ex Cup standings.

What rules of engagement are in your business?

How about these often overlooked “rules:”

Being on time to meetings
Calling and e-mailing back promptly
Proper manners while eating a meal
Being dressed properly for the situation you are in
Sending thank you cards
Confirming appointments

You can probably think of more. These seemingly small things can cost you and you probably don’t even know it. Just like Furyk’s slip up, making a double-bogey on one of these may cost you tens of thousands of dollars and you will never know it.

Figure out your rules of engagement and make sure you follow them. You never know when doing so will make all the difference in the world!

Attitude of Gratitude

danweedin — Tue, 24 Aug 2010 14:19:28 +0000

Yesterday, I attended Mass at a beautiful church here in Pittsburgh. The priest’s homily was on the attitude of gratitude. It was a poignant reminder of all that we should be grateful for in our lives. Regardless of your spiritual persuasion, gratitude is an important aspect of anyone’s life. Why?

First, it shows humility to be grateful for what you have. Second, gratitude leads to a positive attitude. Third, it keeps you focused on the important things in your life.

What are you grateful for?

Mine are easy, yet the simple task of listing them is important to keep focus, perspective, and humility. Here are just a few off the top of my head…

My family
Our health
Living in this country that allows us great freedom of choice
Our extended families
Our dogs (they may not be happy about this placement)
My business and all the associates and friends that have come from that
The opportunity to send my kids to higher education

I’ve seen first-hand through my Rotary experiences how the majority of the world live. That’s not me, and if you are reading this, it’s probably not you, either. Gratitude is a gift in and of itself in keeping our lives (professional and personal) in perspective. We often need to be reminded as it’s easy to take what we have for granted. I got my reminder this morning. I hope this serves as one for you!

Getting Past the Gatekeeper

danweedin — Thu, 19 Aug 2010 15:29:15 +0000

What happens when you run into a tough gatekeeper?

Most every business owner you will want as a new client has one. If they are good at their job, you will have a tough time getting through to your prospect. So what to do?

Here are some suggestions:

Get a referral. With platforms like Linked In, you are able to find common acquaintances and allies much easier than before. Find someone who will introduce you.
Network where they go. Might be a charity function, a chamber of commerce event, or a trade association meeting. Do a little homework and find out where you can find them.
Make friends with the gatekeeper. Don’t take a tremendous amount of time, but find a way to get on their good side. Again, a little homework might be necessary.
Be persistent. At some point, he or she may just want to get you off their backs!
Offer value. Drop off articles or white papers. Find some value that the gatekeeper must pass on.

Don’t turn tail and run when you hit that “gate.” Be creative, do your homework, and find a way to contact that decision maker.

Have You Lost Your “Team?”

danweedin — Tue, 10 Aug 2010 16:33:31 +0000

How do you know if you’ve lost your team?

Yesterday, the Seattle Mariners fired manager Don Wakamatsu after only a year and a half. Last year, he led the team to 85 wins and was a strong contender for Manager of the Year. Less than a full season later he’s the poster child for failure, as the team will undoubtedly lose 100 games. His biggest perceived failure is that he “lost his team.”

How do you “lose” a team? Basically, what this means in sports vernacular is that the team lost respect for him as the boss. It started with Ken Griffey Jr.’s quick departure after what seems to be differences with the skipper. It morphed into a very public dugout fight with Chone Figgins, captured on national television. By the time this week arrived, General Manager Jack Zduriencik decided that Wak must go, even though the team won 2 out of 3 games over the weekend.

In sports, head coaching has become more of a management position than an expertise one. Yes, you have to know your “stuff” when it comes to X’s and O’s. However, it is now more important that you are able to effectively communicate with prima-dona athletes, who can become as petulant as your 5-year old when they don’t get their way. This situation can clearly be seen in many management positions in business.

How good is your management team at effectively communicating with employees? How quickly and efficiently can they deal with conflict? How well do they motivate employees and do they really have influence?

If you are the owner of your agency, your “coach” in the field is critical to your success. Your coaches include sales managers, office managers, and operations managers. When you evaluate them, are you truly gauging their ability to communicate and influence? How do you know?

If you are in an insurance company, how well are your managers leading their respective teams, e.g. underwriting, claims, and actuarial?

If you are a manager in charge of a team of employees, you should be asking yourself the same questions. Your career and remuneration may hinge on how well you communicate, inspire, and lead. How well are you doing?

Sports are played out on the big screen of our lives. The wins and losses are easy to track and the personalities are open books to read and sometimes even come with notes. Business operates more in a cloud, sometimes even to the owners. Unfortunately, you might be losing as many games as the Mariners and not really even knowing it until it’s too late.

Make sure it doesn’t happen to you by making educated decisions on your top people. Give them training when necessary and help them to enhance their communication and leadership skills so they don’t “lose” your team.

Insurance Success Strategy #41 – Find Out Why

danweedin — Wed, 04 Aug 2010 21:00:40 +0000

Didn’t get the business this time? Find out why. You are trying to improve yourself so stop making the same mistakes. Ask for honesty and be willing to accept criticism. It may help you get the next account.

I’m Back…

danweedin — Tue, 03 Aug 2010 00:18:27 +0000

Many thanks to all of you who wished me well after my “unscheduled” appendectomy last week. I know it shouldn’t have been too difficult to blog, but I didn’t get it done. I’m back. We will now return to our regularly scheduled programming…

Heat Stroke/Exhaustion

danweedin — Thu, 22 Jul 2010 16:54:06 +0000

If a 20-year old professional golfer can be hospitalized with heat stroke while playing golf in France, so can your client’s employees toiling in the sun. You have an obligation to apprise them of their exposure to workers compensation claims, regulatory fines, and lack of production due to heat-related illness and injury. Talk to them about safety training and encourage them to hep their employees stay safe.

That’s part of your job!

Lessons from Indy Car Racing and Running

danweedin — Tue, 20 Jul 2010 22:07:48 +0000

I’ve never been a big Indy car or NASCAR fan. I have trouble watching cars just race around an oval. Normally, I can’t tell who is who and I get bored.

However, last week I tuned in to the Indy Car race in Toronto because I wanted to to watch the Mona Vie car being driven by Tomas Scheckter. The race was unique for me because it was driven on the actual roads of Toronto rather than a regular race track. I found this fascinating. According to the announcers, the nuances of the roads – the irregularities, bumps, humps, holes, and rocks – make for a much more difficult track to maneuver. It also adds great intrigue and variety for the viewer.

It made me think of running on a road rather than on a treadmill. I’ve done both and prefer the treadmill because, quite frankly, it’s easier and more predictable. No wind, no curbs, no rocks. However, I never lose the joy of the scenery I get to see when outside. Last September, I ran along the beach in Newport, RI. It was magnificent.

So what does this have to do with insurance professionals?

Think of the last proposal you gave? Was it different than the one you gave before it, or the one before that? Have you become so robotic and predictable in your presentations – from delivery, proposal format, and examples – that you’ve become bored yourself? Maybe you are even boring your prospect because they hear the same thing from everyone or your client because they hear the same thing from you all the time!

Take your game outside like Indy Car did in Toronto and I occasionally do when running. Add a little risk and find the reward. Here are a few examples:

Go out to lunch without the proposal in hand. Discuss your client’s actual needs and exposures. Tell them the renewal premium at the end without a bunch of fanfare or paperwork.
Give them the premium right up front instead of burying it in the back of the proposal. That’s the first thing they want to see anyway, so give it to them.
Get rid of all the minutia of who their “team” is. Pack it full of “WIIFM” (What’s In It For Me). They can always get contact information later if they buy from you.
Stop reading to them. It’s aggravating to get a proposal and have the agent read it line by line. Your clients and prospects can read! Tell them what that page has that’s important to their risk management.
Give more examples. Tell more stories. Buyers buy on emotion, not logic. I repeat, logic makes people think, emotion makes them buy. Think of the last time you bought a car. Did you buy it because it was the most practical or because you look good in it? Be honest.

Start being creative and create an image of difference. Not only will you not be boring, but you might catapult yourself right to the top of the heap…and cross the finish line first!

Extra Points for Today

danweedin — Mon, 19 Jul 2010 18:44:03 +0000

This week’s focus point -

Last week I was taking the dogs for their morning walk when Captain Jack stopped to smell the bush on the edge of our property. I thought he had some business to attend to, so I stopped to give him time. He did his due diligence in sniffing, and then as if shot out of a cannon, dove headfirst into the bush and emerged with a foot-long garden snake clenched in his mouth! The snake had a beautiful red stripe on its back and was flailing on both sides. I jerked the leash and Jack lost control of the snake, who immediately retreated back into the bush. To say the least, Captain Jack was disappointed about the “one that got away.”

Do you dive headlong into your passions? Might be professional or personal, but each of us have passions that excite, motivate, and often challenge us. If you’re going to be a member of an organization like Rotary or Kiwanis, dive headlong into it so you can give the most and get the most. If you own your own business, dive into it with assertiveness and confidence and you will engender the same in your clients and prospects. Develop your personal and professional relationships that you cherish with zeal.

I guess the bottom line is that if you attack your passions and dreams with the same exuberance and confidence as Captain Jack, you will emerge with your own snake and won’t have to give it back. Happy hunting!

This week’s quote -“God gets you to the plate, but once you’re there you are on your own.”
- Ted Williams, Hall of Fame baseball legend and last player to hit over. 400 for a season

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Highlights from the Seattle Chamber Focus On Presentation

danweedin — Thu, 15 Jul 2010 16:19:50 +0000

Yesterday, my friend Libby Wagner and I presented a program to a terrific group of business professionals at the Greater Seattle Chamber Focus On series. Our topic was “From Recession to Recovery,” and we tackled issues related to leadership, personal growth, marketing, sales, branding, and life balance. After the meeting, several people came over to chat with us and I typically ask what they most valued from the program. Here are a few responses…

Have three personal and three professional priorities or goals each day. Focus on those and get them done first. Doing this will enhance how you manage your time and stress.
Ask for referrals early and often. This will keep your pipeline full.
Call three people each day – clients, prospects, referrals. Offer value, ask for referrals, see how they are doing, etc. By keeping in contact, you leverage your ability to increase opportunities.
Be “wholehearted” in your work. Be passionate and share that passion with others.
Building strong relationships is critical to success professionally and personally. Find a variety of ways to do this in your career and life.
Be specific in your language. In order to be an effective “influencer,” you must be clearly heard and understood.
Speak, publish, network, and use social media to get your message out to the masses. The more people who need what you do/sell/service/provide, the more opportunities to help them and you.
Now is the time to take risks, step out of the box, or reinvent yourself. Have courage and confidence in your abilities.

Many thanks to the Seattle Chamber of Commerce, out guests, and to Libby. It was an excellent day and we hopefully will be invited back to do it again!