The 7 habits of highly successful producers

New business is what separates the great producers from the good ones — and consistently growing a book of business by 15% each year is what differentiates high-performing producers in successful firms from the average. 

Producers who adopt these seven habits can stay on top of their game. 

1. Know your numbers. Be prepared by staying up to date on the following numbers: annual revenue goal, closing ratio, average sales cycle length, and average account size.
2. Have a “robust” pipeline. What is a “robust” pipeline? It is when you have enough prospects based on your closing ratio. For example, if your close rate is 25%, your sales target is $100,000/yr., and your average sales cycle is 90 days, you’ll need a 90-day pipeline of $100,000 to stay on target. Focus on successfully keeping a full pipeline so you can close enough deals to predictably achieve your goals.  
3. Have a written plan. How are you going to build that robust pipeline? Have a written plan that includes your ideal account profile, how many prospects fit that profile, what level of prospecting activity you need, and how you will obtain your self-development goals for the year. 
4. Get a commitment for the next step. What happens after the meeting with a prospect? What’s the next step? If the answer is, “I’ll call back in a couple of weeks to check in,” then you don’t really have a plan. Get a commitment before leaving a meeting. If the prospect agrees to a follow-up, set a date, and send a calendar invite then and there. Always leave the meeting with a defined next step!
5. Trade up. Successful producers perform an annual book analysis and “graduate” their smaller accounts so they can free up time and resources to focus on new, larger clients. Consider shedding the bottom 10 to 20% of your accounts every year so you can concentrate on “trading up” and earning new business. 
6. Shoot for 25%. You’ll naturally experience account leakage of about 10% annually — so in order to achieve 15% book growth, aim for earning at least 25% new business. If you do, you can double your book size every five years. 
7. End on a high note. Your attitude is so important. Make sure your last experience of the day is always positive. If you’re ready to head home, but a prospect hangs up on you, make one more call that goes well. (Even if it’s to your mom!) Ending your day with a good feeling will send you home with the right attitude and prepare you mentally to tackle the next day of hunting new business.

Curt Vondrasek is a senior vice president at Marshberry. He can be reached at 630.315.9031 or Curt.Vondrasek@MarshBerry.com. Opinions expressed here are the author’s own. 

This article is part of a new monthly series from Marshberry on achieving organic growth. Read more here: 

• Is what you’re working on the best use of your time?