12X Commission

By Charles SpechtBusiness Entrepreneurship Careers

12X Commission episodes

July 12, 2021How to Get the Incumbent Agent Fired and You Hired
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses the biggest problem insurance agents have. It’s not around prospecting or messaging. The biggest problem insurance agents have is their lack of success at getting their prospects to fire the incumbent agent in order to hire them. That is what this episode is all about.

Episode Highlights:
Charles explains the process of competitive dethronement. (2:56)
Charles shares how insurance is war. In sales, you either win or lose. (4:21)
Charles explains how to get the incumbent agent fired, to get you hired. (9:19)
Charles shares a story about speaking to an insurance agent, who sent him a message on LinkedIn. (11:43)
What’s the second thing you want to do to get the incumbent agent fired? (13:30)
Charles shares how to get the insured to realize that their agent hasn't fulfilled their services. (18:31)
Charles explains another way of identifying significant problems that the insured has with their incumbent agent. (20:28)
Charles shares what you need to do to help the insurer take away the pain. (25:50)
Charles mentions why it’s important to remember that insurance buyers have the insurance mentality of a four-year-old child. (29:33)
Key Quotes:
“If you can't get the incumbent agent fired, you will never get another client. If you can't get the incumbent agent fired, you will never get hired, period. And so, we don't have a prospecting problem, we have a firing problem, that is the issue.” - Charles Specht
“If you can begin creating that killer mindset, so that you understand what this is, I do believe that everything else will become easier. I do believe that you'll be more focused, that you will understand the process more, that you will start creating strategies and systems, and a process that is going to work yourself through the situation with the insured, so that at the end, you are more likely to ask for the broker of record letter, and get awarded the broker of record letter.” - Charles Specht
“If you don't win, you lose. And, there is somebody else right now sitting in your chair, on your throne, the other incumbent agent. Unless you can get the insured to willfully fire, terminate that relationship, you will never get another client, period. If you can't get people fired, you can never get a new client. It is that simple.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
35 min
July 08, 2021How To Win New Clients With a 12-Month Timeline of Services
Most insurance agents don't know how to clearly articulate their value or adequately differentiate themselves in their prospect's minds.
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht explains how to best differentiate yourself with a written, objective, and strategic 12-Month Timeline of Services.

Episode Highlights:
Charles explains what should happen when you’re trying to get a prospect to schedule an appointment with you. (2:18)
Charles mentions what most insurance agents do when they're in a meeting with a prospect. (3:31)
Charles recommends the book called, Building a StoryBrand, by Donald Miller. (5:50)
Charles mentions one of the most fascinating things about the book. (6:12)
Charles shares how the timeline of services could get you more business. (8:47)
Charles explains why differentiating yourself from the competition could be the biggest problem. (12:01)
Charles explains the timeline of services in detail. (13:10)
Charles shares a story about his client that has the largest broker of record in his curriculum. (18:23)
Charles explains why the timeline of services is so important. (20:17)
Charles mentions the three things you need to focus on with your 12-month timeline of services. (27:24)
Key Quotes:
“All of these things that we tell a prospect about... what it is that makes us better, all it really does is put us in the same bucket as everybody else. Because, the vast majority of your competitors out there are doing just that.” - Charles Specht
“You have to be able to teach your prospects how to get the things that they want. You have to be able to explain to your prospect what it is that you're going to be able to do for them, so that they can achieve the things they want.” - Charles Specht
“If you can't differentiate yourself from the competition, then you are the very epitome of mediocrity. Nobody is going to make a switch to get some more mediocrity. So, you need to really figure out how to differentiate yourself in the marketplace.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
33 min
July 05, 20217 Steps to a Million-Dollar Book of Business
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht breaks down what those seven steps are and how you can do it, too!

Episode Highlights:
Charles mentions his book called, The Millionaire Producer. (1:49)
Charles shares the first step: collect signatures and serve happiness. (3:00)
What’s one of the most imporant and most expensive pieces of paper in the insurance business? (4:44)
Charles walks us through the second step. (7:28)
Charles details the third step: think bigger. (12:38)
Charles shares the crucial fourth step in building your book of business. (15:17)
Charles explains the fifth step: riches are in the micro-niches. (17:16)
Charles mentions the sixth step. (21:17)
Charles shares the final step, which is accountability. (26:40)
Key Quotes:
“Our clients need to be happy. They want to be joyful, they want to be satisfied, they would like to stay loyal, they want to be happy that they chose you. And so, we have to provide services that provide solutions to the bigger problems that they have. You do that…your client will remain happy.” - Charles Specht
“You're not necessarily a salesperson, you are a persuader. You need to work on your persuasion. As you work on your persuasion, your tact, your delivery, how you actually message things, you're gonna see your book of business actually increase significantly.” - Charles Specht
“That's what an insurance agent does...collect signatures, serve happiness. Stop offering quotes to people who have not yet given you their permission to represent you in the marketplace. That's not what pros do.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
33 min
July 01, 2021The Riches are in the Micro-Niches
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses how the Jack-of-all-Trades is dead. The "generalist" producer is a thing of the past. Insurance agents who become experts in a specific area (Micro-Niche) get more clients more quickly and win significantly more signed Broker of Record Letters.

Episode Highlights:
Charles shares a story about a man named Jack. (2:07)
Charles explains what a micro-niche is. (2:55)
Charles mentions the problem with being a generalist. (4:07)
What would Charles recommend to insurance producers? (5:04)
Charles shares the story of when he first understood the power of micro-niches. (5:16)
Why are the riches in the micro-niches? (11:21)
What’s something Charles often hears from the employee health benefits producers? (13:21)
Is micro-niching about more than just types of accounts? (14:04)
Charles mentions some of the factors that you need to consider when you first start exploring micro-niches. (24:54)
Key Quotes:
“The insurance producer, who is micro-niche, is the one who wins the day. Period. And, so the riches are in the micro-niches.” - Charles Specht
“Being micro-niched allows you to write significantly larger accounts. If you are a generalist, that's not necessarily true. You're not going to be able to write larger accounts all the time. But, being micro niched separates you from the competition.” - Charles Specht
“The focus is that the riches are in the micro-niches. If you get that... you are going to have a book of business that will explode. - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
40 min
June 28, 20215 Things Successful Producers Do Every Week
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht talks about the five things insurance producers do each week that will guarantee them success. Stay committed to these five things and you'll be well on your way to building a $1,000,000 or more Book of Business!
Episode Highlights:
Charles explains a problem that he sees with far too many producers. (2:42)
Charles mentions what he would’ve done if insurance didn't work out for him. (8:57)
Charles lists the five things that successful producers do each week. (10:29)
Charles shares why sometimes he needs a kick in the pants. (11:16)
Charles shares a story about a producer he’s been working with for quite some time. (13:27)
How many phone calls should you be able to take in an hour? (15:27)
Charles explains why the vast majority of insurance producers are not good at administration and data management. (17:43)
Charles shares why ideal prospecting is like building a house. (22:15)
Key Quotes:
“I really hope you understand how important each and every day is... Monday, Tuesday, Wednesday, Thursday, Friday. You know, Friday is not a day in which to take off. Friday is a day in which to sell some insurance.” - Charles Specht
“What you sow, you will reap. If you sow rest, you're going to reap poverty. But, if you go out and you plant the seeds, and you water the seeds and you tend the soil, you are going to reap the fruit. You absolutely will. All the work that you put into your insurance career is going to come back to you tenfold… a hundredfold.” - Charles Specht
“The fortune is in the follow-up. Consistency is key, and you need to do things that calculate toward profit. If you're not doing things that calculate toward profit, guess what? You're calculating towards poverty, and that's not a recipe for success.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
35 min
June 24, 2021Do These Three Critical Things If You’re Going to Offer Quotes to Non-Clients
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses THREE things you absolutely need to get from your prospect if you decide to offer quotes, instead of being awarded a signed Broker of Record Letter on the current policies. Doing these three things will significantly strengthen your position to win, while not doing them is a dagger of death.

Episode Highlights:
Charles mentions why constructive risk exists. (2:55)
What issues does Charles face, when working with insurance agents? (5:44)
Charles explains why he needs to invest more in stocks. (8:03)
Charles shares the three things you need to do to better position yourself. (12:37)
Charles mentions why being micromanaged is very important. (16:24)
Charles explains why it’s unethical to go through a quoting process with multiple agents. (20:51)
Charles shares why precision is important to guarantee a business relationship. (23:09)
Charles mentions what happens when you can't get those three things. (34:05)
Key Quotes:
“When we go through a quoting process, we don't actually dictate any terms with the insured with the prospect. In other words, we don't establish the rules of the game.” - Charles Specht
“You have a stock price with your prospects. It's going up and down, based upon a lot of circumstances that not only you do directly, but also, based on what's happening behind the scenes.” - Charles Specht
“Everybody has to come in with their best rate. Otherwise, it's just a free for all and you're not in a very strong position there. You’ve got a weak stock price.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
43 min
June 21, 2021Why You Should Ask for the BOR During the First Meeting With a Prospect
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht teaches you exactly what you should say, and ask your prospect during your first meeting and -- specifically -- why you should ask for the signed BOR. Doing so tells you absolutely everything you need to know about your position in the process as well as how strong of a position the incumbent agent has with the insured.

Episode Highlights:
Charles explains why it’s better to ask for business during the first appointment. (2:33)
Charles mentions one of the nice things about being a micro-niche. (3:42)
Charles shares what you should find out from your prospect during the first meeting. (5:31)
Charles mentions the type of questions you should be asking your prospect. (7:50)
Charles shares one of the ways he shows a lot of value to his clients. (9:25)
Why should you ask for the broker of record letter during the first appointment? (13:19)
Charles mentions what happens when you ask for the broker of record letter before the first appointment. (16:58)
Charles shares what millionaire insurance producers do. (29:08)
Key Quotes:
“You need to find lots and lots and lots of problems during that actual appointment. You need to have specific questions already written down, sitting on a piece of paper. One that you're actually holding in front of you, so that you can ask your prospects those questions. If you don't have those questions written down in front of you, you are an amateur and you deserve not to win.” - Charles Specht
“Every single point of communication is about positioning, positioning, positioning, positioning. You are always trying to position yourself better every point of communication either strengthens or weakens the relationship with your prospect. You are either gaining ground or you are losing ground.” - Charles Specht
“If you show up to the place of business,sitting down with a business owner who has decided to give you an hour of his or her life, to talk about something that is not really interesting to them, that they don't like... that causes frustration.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
33 min
June 17, 2021The 12X Millionaire Mindset
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses the 12X Mindset, which results in one new client per month via Broker of Record Letter. Charles talks about the basic foundation of the 12X Mindset which is, 1) Stop offering quotes to non-clients; 2) Develop a Micro-Niche, 3) Target larger revenue-generating accounts, and 4) Target signed Broker of Record Letters.

Episode Highlights:
Charles explains the goal of this episode. (2:20)
What are some of the things insurance producers should do to win prospects? (5:34)
Charles gives a significant piece of advice to help you with prospecting. (7:58)
Charles shares some statistics from his experience as an insurance producer. (12:30)
When did Charles really start to understand the power of the broker of record letter? (21:33)
Charles mentions the 12X Club website. (22:10)
Charles gives the four keys you need to have a 12X mindset. (22:27)
Charles explains how to create services within your niche. (31:29)
Key Quotes:
“You can’t articulate to your prospect about what makes you different, and what makes you better. Please understand, your prospect will never be able to figure it out for themselves, ever.” - Charles Specht
“Prospecting is a numbers game. Selling insurance is a relationship game. Don't make the mistake of thinking that you can just walk into somebody's office and ask for the sign broker of record letter, and expect to get it.” - Charles Specht
“Everything that you do, every question you ask, every telephone call, every email is a point of positioning. You're trying to position yourself in a better light, in a better position, stronger position, so that you can win the business.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
41 min
June 11, 2021How to Become a Million-Dollar Insurance Producer
We're so excited to introduce you to the newest series on the AI Podcast Network: the Millionaire Producer Podcast, hosted by Charles Specht, national sales director and keynote speaker.

Charles was a producer with a $1,000,000+ Book of Business, before starting a consulting company working directly with insurance buyers. Now, he’s taking over the podcasting world to give you tools to package your services in such a way that your prospects will fire their current agent and sign your Broker of Record Letter…during the very first appointment!

In this first episode of the Millionaire Insurance Producer podcast, host Charles Specht gives the back story of his first ten years in the insurance industry as a producer. Charles explains why he stopped selling insurance and became a fee-based consultant to insurance buyers, how insurance buyers choose an agent, and how he eventually transitioned into teaching insurance producers how to win signed Broker of Record Letters.

Episode Highlights:
Charles mentions the three things that an insurance buyer is looking for. (1:32)
Charles gives a brief background of his consulting company. (3:03)
Charles mentions the reason why insurance buyers hire him as their insurance consultant. (5:56)
Charles shares the skill sets you’ll need when it comes to prospecting. (10:01)
Charles walks us through his career background. (11:42)
Charles mentions why he loves to hear the word ‘yes’. (13:48)
Charles explains what a minimum revenue threshold is. (16:33)
Charles shares one of the big decisions he made in his career. (23:22)
Charles mentions the website Broker of Record Letter Group Mastermind. (29:17)
Key Quotes:
“What I do is work with insurance agents to actually help them become more successful. It's a lot more fun, it's a lot more exciting than having to actually put together apps and so forth. Personally, I'd love to be able to see the producers actually get that win, to be able to see that smile that they heard somebody say ‘yes’.” -Charles Specht
“I love to hear the word ‘yes’, because I know that when I hear the word ‘yes’, that means they have said no to the incumbent and that they have chosen to actually begin doing business with me. And so, I love prospecting. I love being able to meet with people. I love being able to talk to people. And, so, you know what? I was just a prospecting machine.” -Charles Specht
“I focus on working with insurance agents to help them get more broker record letters. You wonder why? Because, that's what my client, the contractor, wants. They want to be able to pick one agent. I don't focus on the broker of record letter just because I think it's an awesome, interesting way with the prospect, no. I focus on the broker record letter because it's what the prospect wants.” -Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
36 min

About 12X Commission

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12X COMMISSION is the top podcast for insurance producers who want to build a $1,000,000+ Book of Business and also for agency owners who want to scale their agency to 7-figures or more. The host…