Have you ever considered that “goals” and “gold” are tied together, and one actually leads to the other? For us to maximize our revenue potential in this marketplace we need to understand the relationship between the gold we have with our clients and prospects and the goals we have for our production. We need to use our minds—our knowledge—to maximize our potential. In this market, there are a number of challenges affecting our business. Let's explore them:

Agents aren't focusing on new business. We hear it from every carrier: Agents are merging and transferring books of business back and forth, but no one is focused on actually writing new business. Our agency's attention on this issue has made us the No. 1 producer for new business with six of our national carriers. Why? Our corporate focus is on new business production. Are you focusing on 20 percent to 25 percent of expiring revenue as a goal for new business revenues in the next year? Carriers are hungry for new business and willing to pay more to their producing agents based on growth, retention and profitability.

Read Tom Barrett's previous column, “Structure Creates Revenue.”