For example, assume your 2006 income goal is $125,000. Further assume that you have a $300,000 (revenue) book of renewal business on which your share of commissions is 25%, and that you earn a 50% commission on new business. You will receive $75,000 in 2006 renewal commissions (25% of $300,000). Subtracting that figure from your goal leaves $50,000. Dividing that by your 50% (.50) new-business commission gives you a $100,000 (revenue) new-business goal.

You also should identify your education goals. Do you intend to meet or exceed your state insurance license continuing education goals? Are there professional designations you intend to achieve?

What are your professional goals? Do you plan to become more involved in your state or local agents' associations? Have you identified professional roles to play in trade associations whose members include excellent prospects for you?

Top-selling professionals even set time-management goals. Do you know where your time goes? How many days of your working week will you, without fail, commit to selling?

Let's talk about planning

How are you going to reach your 2006 income and new-business goals? Are your goals realistic and achievable, given your service or agency management responsibilities? Once you set new sales goals, success or failure stares you in the face.

If you plan to make telephone cold calls, how many will you make each day? How do you plan to capture the attention and interest of potential buyers? From whom do you plan to ask for referrals? How will you ask for referrals? For which business networking organizations do you plan to invest time? What actions will you take to ensure a return on the time you invest in networking?

If you want to maximize your prospecting results, plan your personal marketing activities carefully. It's not enough to make a bunch of cold calls, ask for referrals and show up at networking events. Each strategy must be planned. Too many insurance agents waste time, money and energy in unplanned personal marketing activities. The result? Too few new accounts, too much frustration and too many failures.

To reach your goals, track results

How do you know if you're progressing toward your goals, treading water or falling behind? The answer is, by measuring results. Set weekly, monthly and quarterly new-business benchmarks. If you don't meet them, don't wait until the year is almost over to make adjustments.

Know your numbers. How many cold calls do you make and how many appointments result? If 20 cold calls lead to three appointments, you now have measurable information. Is that a good call-to-appointment ratio? Would a more powerful positioning statement improve your appointment success? Are you having a hard time getting to the decision-maker? Are you calling at the wrong time (e.g., restaurant owners during peak hours, contractors as they are sending crews off in the morning, etc.)? Perhaps you are being put off by the receptionist or leaving too many voice-mail messages.

By measuring your cold-call-to-appointment ratio, you find out what works and what doesn't. Then you can improve the impact of your message, the timing of your calls and your skill at getting past gatekeepers.

How many appointments lead to presentations? What's your closing ratio (presentations/closed sales)? If 10 appointments result in eight presentations; and eight presentations yield two sales, you have measurable information. Do two closed sales for every eight presentations represent an acceptable closing ratio to you?

Commit to a successful 2006. Take responsibility for your sales success. Have the courage to set goals, plan personal marketing activities, and measure the results of your efforts.

Ed Lamont, CIC, CRM, leads Dynamics of Selling programs and teaches at The National Alliance School for Producer Development. He can be reached at (561) 737-7388 or by e-mail at [email protected]. For more information about Dynamics of Selling, The National Alliance Producer School, or Street Smart Selling, call (800) 633-2165 or visit www.TheNationalAlliance.com.