For this week’s “Keys to Success,” we interviewed Tyler M., an elite producer in the Medicare Insurance field. Here is an excerpt as he discusses the importance of agency development.
On…Adapting to Change
“I’ve been in the senior insurance business for 13 years and within that time there have been enormous changes. CMS is constantly changing and it forces us to change and evolve with it to stay compliant. You really have to pay attention to potential changes and be willing to adapt when the time comes. A major change was not waiting on existing 65 + year olds, but building relationships with Seniors who are about to turn 65.”
On…How to Build a Business
“The only way to build a successful business is embrace change because change is truly the only constant in our industry. Lots of agents give up and leave the business when their usual way of doing things changes. When Part D was implemented in 2005, lots of agents fled fearing the Medicare overhauls and now with the Obama Care many agents are leaving the industry.
Many agents fail to realize there is more than one way to educate clients AND make a living. You should have different products in your business portfolio to cover your clients. There are a plethora of ancillary products that can benefit your clients and have a huge impact on protecting their financial status. So don’t pigeonhole your agency into one way of operating or your offerings.”
On…The Importance of Hiring FAT Agents
“As your agency slowly grows the need to hire new insurance agents will become more important. To become a highly successful insurance agency you have to hire FAT agents. What does FAT stand for? Flexible Adaptable Trainable. Those are the top three qualities to look for when considering new hires for your agency. Surround yourself with people better than yourself and not someone who can just do the work. You need to take time to really find people who will enjoy what they are doing, and want to add to your culture.”
On…Embracing a World Outside of Your Business
“One common attribute of independent insurance agents is the willingness to put everything we have into our business and work. However, you have to be careful to balance the demands of your career with the life outside it. Live a full life outside of your work because we so easily want to tie our entire identity into what we do and not who we are. Otherwise, there might be a day where you retire and you have nothing to tie your identity to. You must invest yourself in your family to cultivate your own personal growth and fulfill your journey.”