Be a Businessperson First

Author: Rob Ekern

While in the brokerage world, I was fortunate enough to have several very good bosses and sales managers. One of the best used to say, "I only hire producers that are good business people." Being a businessperson first gives Consultative Brokers an entirely different perspective from many other insurance sales people.

Ah, but I can hear you saying, "Aren’t all large producers good business people?" Not necessarily. Here are some of the traits that describe Consultative Brokers who are good business people:

They understand relationships. As a good businessperson they know that things will not always go their way. However, they are in the game for the long run (many years.) Therefore, they understand that the value of the relationship with clients, prospects, carriers and colleagues is something that must be nurtured.

They are not afraid to ask for money. A good businessperson understands that money is the exchange forservices. A Consultative Broker maintains a relatively small accounts receivable balance. If they have not been paid, they do not do the deal. They also know that some clients use the broker’s ability to ask for money as a yardstick of representation. After all, if the broker doesn’t care enough to ask for their own money, how will they treat the client’s money in a claim?

They walk like they talk. A good businessperson understands that their reputation is their most important asset. Therefore, in all aspects of their business affairs, they uphold commitments no matter what the consequences. They know that a short-term loss because of upholding a commitment will translate into long-term gains.

They are always prospecting. A good businessperson knows that new business is the lifeblood of their income. Sometimes they have no control over what happens with a client (going out of business, merging, selling, etc.) However, they can control their own efforts. Prospecting is their insurance against going out of business!

They expect the unexpected. A good businessperson understands that in business, sometimes circumstances change. They are always aware of the situations that can affect changes with clients, prospects, and carriers. They do not get emotional about these changes - they just consider it part of business.

They are good managers. A good businessperson knows that they are in the account management business. They see themselves as "gatekeepers" of resources, personnel and expenses in the service of clients. They manage the process.

Successful Consultative Brokers are great business people. Many of them have taken decades to perfect their craft. They understand that their reputation and success in the future revolve around a continuation of these traits. The continual honing of their business practices is what places Consultative Brokers among the elite producer/brokers in our industry.

For more information on Consultative Brokerage and C.R. Ekern & Company, visit
http://www.crekern.com.