6 Secrets of 6-Figure Advisors: Part 3

At last, the final two secrets:

6 -Figure Senior Insurance Advisor’s Secret #5: They don’t focus on production, they focus on running their business.

Try this. Ask three of your friends in the business how things are going. I can almost guarantee (unless they read this!) their answer will be production-focused.

“I sold 60 MAs this AEP and won’t get paid until mid January — I’m not sure how I’ll make it.”

“The leads have dried up, and my FMO doesn’t have a free Lead program.”

“I only sell Medicare Supplements. Life insurance renewals are too low for me to consider selling that product.”

While these are all valid concerns, running your own business focuses on three core ideas:

  1. Margin: How to make money in all environments, year-round.
  2. Core Competency: Concentrating what the business does better than most of the other businesses?
  3. Tactical planning: Doing the day to day things necessary to run a profitable business.

Within these three core ideas, there are many other elements such as: Objectives, strategies, tactics, revenue and expenses, marketing, etc. All of these are required in order to get out of simple production mode and into running your business!

6 -Figure Senior Insurance Advisor’s Secret #6: They know they cannot do it alone.

Yes, I know sales is an individual sport. I know you eat off the land and that you have to be self-reliant. I understand that everyone who says “Come and go with me,” is not seeking synergistic, everyone-wins relationships. That said, you can only go so far on your own.

It seems like all the secrets have three elements, and this one will be no different. The impact of Strategic Teaming:

  1. It was Aristotle who said “The whole is greater than the sum of its parts.” A fitting quote for running your business. Teaming gives you access to economies of scale. You are not giving up control. When done properly, everyone will do their part, take their fair share of the harvest based on the value provided.
  2. Access to new and bigger opportunity. Sure, the rich get richer. Why? They merge and partner. They see an opportunity and know that there is more than enough. Case in point; Alibaba. The largest company in the world doesn’t actually sell anything, it partners with businesses (small and large) that do.
  3. Many hands make work light. The things you struggle to do (administrative work,  Lead generation and management, commission reconciliation, etc.) are best accomplished through delegation and sharing of resources that would be too expensive if done on your own.

Whether it’s an FMO that has products and tools you can’t access on your own or a newly hired assistant who can make the calls to set the stage for your upcoming weeks’ activities or a dynamic training program like 6 Hours to 6 Figures that may give you the extra “Ooomph,” you need a team to support you to reach the next level. You need a team to support you.

“If you want to go fast, go alone. If you want to go far, go together.” African Proverb

There you have it — the 6 Secrets of 6-Figure Advisors. Some of them may seem daunting, but they are all doable. If it were easy, every one would do it. Separate yourself. Join the club!

2015 is in full gear. If you take these six secrets to heart, I believe you have enough time to cross the 6-figure finish line. Join the ranks of the exclusive (but accessible!) $100k+ club and take your business to another level. That is my goal for you. I know you can do it!

Until then, I wish you Money, Power, Success!