Knowledge

Do you have the knowledge to be a master of your profession? In the world of insurance, there are two schools of knowledge you must master. The first is the school surrounding your profession, which, by the way, is not insurance, but selling. You should be dedicated to becoming the top in your profession. For every book and article you read on insurance or risk management, you should read two about sales and selling.

The second school of knowledge is insurance. You must be able to technically advise your clients on matters of insurance, risk management, benefits, life insurance, or whatever your specialty is. You must sound credible to your prospects. This will come across in the quality of the questions you ask them, not in what you tell them.

Last year, did your lack of knowledge in either of these two categories get in your way? Would you have been a better sales person if you would have closed more business? Are there accounts you worked on that you should not have? If you had more skill in your specialty, would you have closed more business? Did your competition beat you for either of these two reasons? If so, it is time to dedicate yourself to change.

To increase your knowledge you need three things:

1. The time to study: Set a time each day or week. This needs to be done before 9 a.m. and after 3:30 p.m. or on weekends. Why? Because 9 a.m. to 3:30 p.m. belongs to clients, prospects and networks. If you find yourself at your desk between 9 a.m. and 3:30 p.m. doing something that could be done after 3:30 p.m. or before 9 a.m., you are doing the wrong thing.

2. The commitment to study: It has to be important to you. When I came into the industry at the age of 46 (a complete career change), it bothered me that everyone around me was a CIC, CRM or CPCU. I wanted those letters. It was important to me. Therefore, I became committed to this education. I received my CIC and CRM in 4 years, not because I was smart, but because I was committed to the achievement.

3. The ability to learn: Not everyone is equally blessed with the ability to learn. Some are fast learners, others slower. Some learn best by reading, others by going to class. Some learn by memorization, others by repetition. Some learn by understanding theory, others by hearing examples. Whatever you method and ability, know it, accept it, and understand you are in an industry that requires learning every day. If you do not like learning, then you are in the wrong job.

Skills

Did you fail or succeed because of your skills? Skills are learnable. These include interviewing skills, questioning skills, social networking skills, presentation skills, letter writing skills, overcoming objections, and so on. Find people who have the skills you seek and ask them for help. You will be amazed at the power of a mentor in learning skills. My prospect interviewing technique and presentation technique is a “best of” method. Over the years, my style has become an amalgamation of many others styles. I would see the way someone did something, like it better than the way I did, steal it, adapt it to my style, and voila, I'd learned a new skill.

Traits

You may have certain traits that put you in good stead with prospects, while other traits may be obstacles to your success. Traits are very difficult if not impossible to change. These are inherent parts of your nature. Typically, either you have them or you don't. You're either honest or dishonest, care about your appearance or don't, energetic or lazy, curious or disinterested, empathetic or not, and assertive or not. In a recent study published by The Harvard Business Review, the traits that successful sales people had in common were curiosity, empathy and assertiveness. If you do not possess any of these three, you are probably in the wrong profession.

Motivation

Your goals have to be tied to something. So what motivates you? Typically, salespeople are motivated by money, fear or recognition. Those motivated by money don't set goals because they want to earn “X” dollars each year, but because they want to achieve the goals and dreams the money can buy–the second home, early retirement, putting their kids through college, etc. Money alone is typically never the sole motivator, but dreams are. Fear of failure also is a motivator. “This is my third job in 5 years, I cannot fail again.” “I have made X dollars the past few years and have a lifestyle that I do not want to lose.” Recognition also is a motivator. Typically the entire agency knows who the best producers are. They like being at the top of the heap, being recognized at the year-end meetings, and having the prestige that comes with knowing they are the best.

Regardless of what motivates you, it has to come from within you. It stems from your passion for what you are doing. If you are not passionate about what you are doing, you will never succeed to the extent that is possible for you.

So, what is in your way of achieving your goals for this year? Being honest with yourself is the first step, being committed to making the changes necessary is the second, and holding yourself accountable (no excuses) is the final step. Do what you know you have to do and be earnest in that endeavor.