12X Commission

By Charles SpechtBusiness Entrepreneurship Careers

12X Commission episodes

September 30, 2024Throwback: How to Choose the BEST Micro-Niche to Become a Millionaire Producer
Do you struggle with setting appointment and writing new business? Many agents do. Actually, most do. Why is that? Well, for one thing, most agents don't know where to begin. In other words, they haven't even decided what to prospect, let alone why they should focus on that. They are "generalists" and have a Jack-of-all-trades mindset. Does that describe you? If it does, then this podcast episode is for you!

In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will give you tips on how to choose the most-profitable Micro-Niche for you, and he also gives a few examples of which Micro-Niches he would seriously consider targeting if he were to start writing insurance again.

IF YOU WANT TO FIGURE OUT HOW TO CHOOSE THE BEST MICRO-NICHE FOR YOURSELF, I TEACH THAT IN MODULE 2 OF MY DIGITAL COURSE: Millionaire Producer School. Go here to learn more: www.millionaireproducerschool.com

Key Topics:
Importance of pre-prospecting in insurance sales.
Laying the foundation: The first step in the Permission Sales Framework.
Identifying and capitalizing on your most profitable micro-niche.
The role of geographic territory in micro-niche selection.
Understanding and leveraging differentiation in insurance sales.
Setting a 12-month timeline of services for effective client acquisition.
Reach out to
Charles Specht

Visit:
Permission Network Insurance Agency, Inc.
Millionaire Producer School
33 min
September 26, 2024MINDSET
MIND SET.
You're either strong in the area of confidence and mindset, or you're a weak little puppy.
Which one is it?
Insurance agents who lack confidence tend to write fewer new accounts each year, they write smaller accounts, and they don't win many (any?) signed Broker of Record Letters. The opposite is also 100% true: Insurance producers who are confident and in the right frame of mind set more appointments and write more accounts, they write larger revenue accounts, and they win significantly more clients through signed Broker of Record Letter.

In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will not only tell you why MINDSET is so important for an insurance producer but he'll tell you the basic things you need to do -- today! -- in order to start dominating and winning!

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PS: Remember, the "PERMISSION PRODUCER SCHOOL" is launching on October 14, 2024. It will give you the blueprint for sales success which, in turn, gives you a strong mindset in order to do all of the above. Get registered right away as the price will be increasing very soon!
Learn more and get registered at: www.PermissionProducerSchool.com

Key Topics:
Confidence comes from having a personalized plan and a clear value proposition
Struggles with mindset are common when producers don’t differentiate their offerings
Focusing on a specific micro-niche builds confidence and drives better results
Generalists often struggle; specialization helps producers stand out and win business
The Permission Producer School provides vital sales training to improve prospecting and scripting
A well-defined process allows producers to confidently ask for and secure business
Reach out to
Charles Specht

Visit:
Permission Producer School
Permission Network

Produced by PodSquad.fm
24 min
September 19, 2024The Perfect Script for Cold Calling and Overcoming Objections
Cold Calling is never much fun, but it can become your pot of gold at the end of a rainbow if you can figure out the proper Script and get your delivery of the Script down pat with both enthusiasm and confidence. Most insurance agents have a lame, tired, and worn-out Script that makes them sound like every other agent out there. Don't be that agent! In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will give you actual examples of what your C3 (Cold Call Carrot) and Script should be in order to be more successful when cold calling. Then, Charles will walk you through how to overcome the two main Objections you will hear: 1) We're happy with our agent, and 2) Now is not a good time.

These will help you set more new business appointments with less time prospecting.

PS: The "Permission Producer School" is getting ready to launch on October 14th, 2024. Are you signed up yet? Charles Specht created (and will teach) the Permission Producer School as an intensive 3-week training program to help new(er) Producers write their first $100,000 of commission in their first 6-9 months, and then scale up to $250,000 in commission in their first 15-18 months in the industry.

To learn more about "PERMISSION PRODUCER SCHOOL" visit: www.PermissionProducerSchool.com

Key Topics:
Introduction to cold calling and its crucial role in insurance sales
Overview of the Permission Producer School, focusing on sales techniques for producers
Crafting the right script and delivery; introducing the "Cold Call Carrot (C3)."
Using "price plus something" in your script to meet prospects' needs
Overcoming objections with ethical dilemmas to secure meetings
Examples of industry-specific scripts and tailoring messages for micro-niches
Encouragement to adopt a fresh approach for more effective prospecting
Reach out to
Charles Specht

Visit:
Permission Producer School
Permission Network

Produced by PodSquad.fm
38 min
September 12, 2024Your First $100,000 of Commission - (PermissionProducerSchool.com)
Check out --> www.permissionproducerschool.com

Congratulations! You got hired at your agency. You're now an insurance producer. Ummm, what comes next? Well, that's the dirty little secret of most insurance agencies around the USA and Canada. The problem is that most agencies have no plan for their new producers, and these new producers have no experience in insurance as well as little-to-no experience in sales. And that, my friends, is a recipe for a straight up career-ending disaster!

In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will share the basic steps needed for a new(er) insurance producer to write $100,000 of gross commission in his/her first 9-12 months on the job. It's all about creating the sales system for guaranteed success, also known as the Permission Sales Framework.

To learn more, go to --> www.permissionproducerschool.com

Key Topics:
Importance of having a clear minimum revenue threshold to avoid wasting time on small, unprofitable accounts.
Understanding how different agencies operate and tailoring your approach based on geographic territory, available markets, and agency expectations.
The value of focusing on external prospecting activities and leaving account management tasks to other team members.
How to align your efforts with the carriers your agency represents, specifically targeting industries and businesses that match their appetites for maximum success.
Strategies for building an efficient prospect list, including gathering key decision-makers’ contact information and renewal dates.
The significance of maintaining consistent prospecting efforts, including cold calls, emails, and in-person visits, to steadily build your book of business.
Why a solid system for new producers can drastically reduce ramp-up time, aiming for $100,000 in commission within 6-9 months.
Reach out to
Charles Specht

Visit:
Permission Producer School
Permission Network

Produced by PodSquad.fm
37 min
September 09, 2024Throwback: Building a Book of Business is like Building a House
Do you struggle at scripting, branding, or sitting down to actually do the hard work of prospecting? Most producers struggle at something, and most of us struggle at many parts of the sales process.

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht shares the five parts of his Permission Sales Framework and how selling insurance is like building a house. You have to lay the foundation, build the structure, paint the walls, do the final walk-through, and then get the keys. When you master these five parts of the Permission Sales Framework, you'll become a millionaire insurance producer.

Key Topics:
The challenge of selling insurance and winning clients in a competitive market.
Common struggles faced by insurance producers in appointment setting, scripting, and branding.
Introduction to the Permission Sales Framework: A five-part strategy for success.
Laying the foundation: Pre-prospecting and preparing for client engagement.
Building the structure: Effective prospecting techniques and client acquisition strategies.
Painting the walls: Mastering the first appointment and presentation skills.
The final walkthrough: Navigating the pre-proposal stage and preparing for a successful proposal.
Getting the keys: Closing the deal and achieving the goal of becoming a millionaire insurance producer.

Connect with Charles Specht on LinkedIn

Visit the Permission Network Insurance Agency, Inc. website for more information and resources.
35 min
September 02, 2024Throwback: The "12X Sales Framework" for Winning New Clients
Do you have a defined and well-structured sales process that helps you win new business? No, I'm not talking about a few lucky points here and there. I'm talking about a "proven by long-term results" A-Z Sales Framework that covers everything from start to finish, from the type of account you're first going to prospect to the end goal of collecting the deposit check. That's what host Charles Specht will teach us all about today.

On today's throwback podcast episode, we'll learn the secrets behind his "12X Sales Framework" that empowers insurance agents to build a $1,000,000 or more Book of Business of happy, loyal, and satisfied clients.

Episode Highlights:
Charles mentions his framework’s main key areas for selling, servicing, and renewing clients: pre-prospecting, prospecting, first appointment/meeting, strategic report, and proposal/presentation. (4:04)
Charles explains that pre-prospecting is the crucial foundation work done before making cold calls, setting appointments, and meeting with potential clients, as it sets the stage for a successful sales process. (5:50)
Charles mentions that prospecting involves actively engaging in activities such as making phone calls, sending emails, visiting potential clients, and attending networking events to meet people. (10:32)
Charles explains that the first appointment requires preparation and a structured strategy to identify issues, present solutions and obtain a Broker of Record letter. (13:03)
Charles discusses the importance of strategic rapport and how building comfort and confidence with insurance buyers can give agents a competitive edge. (20:05)
Charles emphasizes the importance of a structured approach to proposals for insurance agents, and the need for sales training and a proper proposal template to communicate with prospects effectively. (23:39)
Charles mentions that having a well-defined process from the initial contact to closing the deal is crucial for increasing your success rate. (30:34)
Key Quotes:
“When you're doing your pre-prospecting, you need to really understand about all the basics of laying the foundation, because if you're going after the wrong business, right off the bat, everything else is messed up.” - Charles Specht
“I love when my prospect says, " Yes, Charles, let's go with it.” That's what I like to do. That is just fun. Quoting and not winning, that's not fun. That's something that amateurs do.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
35 min
August 29, 2024Your First $250,000 of Commission - (Permission Producer School)
You know, if a producer doesn't get to $100,000 of commission in a reasonable amount of time, they often either get fired or they find a new job outside of insurance. So, we not only need to help them get to $100,000 of commission but I think -- more importantly -- we need to get them to a $250,000 commission Book of Business as soon as humanly possible. Why? Because, once a producer gets to $250,000 in annual gross commission, they are usually not going to get fired, they're in the insurance business for life, and they're typically making six-figures in annual take home pay themselves.

Therefore, that's why I am launching the PERMISSION PRODUCER SCHOOL, which is a 3-week intensive new producer sales training school to help new producers write $250,000 of commission in 1.5-2 years. (Go to www.permissiongroup.com to learn more)

Key Topics:
The importance of hitting the $100,000 gross commission milestone for job security.
The challenge of transitioning from learning to producing quickly in the insurance industry.
Strategies for reaching $250,000 in gross commission, including the Permission Producer School.
The need to focus on a single micro-niche to accelerate growth from $100,000 to $250,000.
Why a shift in strategy is required to move from $250,000 to $650,000 in commissions.
Key changes needed to leap from $650,000 to $1.2 million, such as targeting larger accounts.
The mindset and strategy shifts necessary to achieve a $3 million book of business.
Reach out to
Charles Specht

Visit:
Permission Producer School
Permission Network

Produced by: PodSquad.fm
26 min
August 26, 2024Throwback: How to Present Your Quote Proposal to a PROSPECT
Definitely, getting the signed Broker of Record is the better approach to winning new clients. But there are times when the BOR is not an option and so the only way to win that client is by quoting. No worries, because in this episode of the Millionaire Insurance Producer podcast, host Charles Specht is going to explain to you the three things YOU NEED TO GET from the insured before quoting, and then what to include in your final Proposal in order to strengthen your position to win that new client.

Moreover, at the end of the episode, Charles will explain how to hire him to do a virtual sales motivation summit for your agency, or bring him in for a live, in-person sales training with your producers.

Episode Highlights:
Charles explains that quoting for insurance policies is a weak move because incumbents have a 92% chance of retaining the business, so agents need to position themselves strategically and not rely solely on quotes. (3:18)
Charles discusses three key factors that are crucial in the insurance quoting process: gaining exclusive access to desired carriers, establishing a clear agreement with the insured, and preventing the incumbent agent from re-quoting the account. (5:28)
According to Charles, agents should avoid meeting with prospects 10 days before policy renewal because insurance carriers' Broker record letter process prevents payment if signed and submitted within 10 days. (14:50)
Charles mentions that it is advised not to meet with a prospect to provide quotes before the incumbent agent has given their renewal quotes. This is because it is important to have strong positioning and the ability to make a decision on the spot when meeting with the insured. (17:52)
Charles emphasizes the importance of positioning oneself to win business and increase the hit ratio when offering quotes to non-clients. (26:26)
Charles offers his services as a motivational speaker and trainer for insurance agencies, promising to teach the Broker of Record letter process and help agents build a $1 million or more book of business. (29:17)
Key Quotes:
“I have to be wise as a serpent and as innocent as a dove when I go through this whole process so that I am doing a good job for my underwriters, my agency, my wife, my children, my family, my bank account… because I'm in the sales business. And sales is about positioning.” - Charles Specht
“There are things that you can do in this whole process when you are offering quotes to non-client prospects who don't yet fully trust you. It comes down to positioning. If you position yourself to win, you're much more likely to win. If you position yourself just to play, well, guess what? You'll get used.” - Charles Specht
“Quoting is weak, but quoting works if you can put yourself in a stronger position. Do those things that we talked about and you’re going to put yourself in a much stronger position. I guarantee it.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
33 min
August 12, 2024Throwback: Is Being an Insurance Consultant Right for You?
You may or may not be an agent looking to shift your career away from slinging policies and throwing mud against the walls to see what sticks. And, I get that. Or, you may not be an agency owner looking to add "Consulting" to your list of services provided. And, again, I get that. But .... it might just be the absolute PERFECT CHOICE for you going forward, and that's what this episode is also about.

In this throwback episode, Host Charles Specht explains and breaks down the two primary business models you can choose from, to help you earn $100k - $350k annually. And, Charles begins to unpack "Phase 2" which will be released later in Q4 of this year that will be specific to insurance agencies who want to take over the policies (via BOR) of mine and the other consultant's client's policies. Get ready, because we're getting ready to disrupt the entire insurance industry!

Episode Highlights:
Charles mentions that his first approach to prospecting as an independent consultant in the insurance industry is to offer unbiased advice and guidance to small to medium-sized business owners for a fee, without directly involving their brokers or agents. (8:09)
Charles discusses his transition to a new business model where he works as an agency retainer, providing ongoing support and advice to clients for a higher fee, and he refers smaller accounts to other consultants in different states. (18:28)
Charles discusses how the constructive risk network is a good fit for individuals with insurance backgrounds and experience, including insurance agents, carrier people, sales reps, underwriters, claims people, risk managers, and insurance agency owners, particularly those with small to medium-sized agencies looking to transition into insurance consulting. (22:58)
Charles explains that phase one of his Constructive Risk Network involves bringing in insurance consultants under the Constructive Risk Network with exclusive assignments for each state, initially limiting it to three consultants per state. (27:05)
Charles mentions that the goal is to revolutionize the insurance industry by bringing in exclusive insurance agencies and consultants, focusing on the success of both the insurance buyer and the agent broker, and eliminating the quoting process. (28:54)
Key Quotes:
“Getting referrals as an insurance consultant is so easy, it's so easy. You're not competing against other agents, they've already got an agent, you're different.” - Charles Specht
“The goal then, is that we're going to be bringing in insurance agencies in each of the states. Again, very exclusive. We're not bringing in everybody, we're just going to be focused on a number of agencies that have some desire to write certain industries, certain classes of business, and there's no commission split here. You write the policy, you keep 100%. That's it.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
36 min
August 05, 2024Throwback: How to Become an Insurance Consultant
I know, I know. This is a different kind of episode than you're used to. But, it just might be one that changes your life for the better!

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will begin teaching you about how to exit the "rat race" of selling insurance policies and -- instead -- become a wholly independent, fee-based insurance consultant where you will likely make between $100,000 - $350,000 in personal "take home" income every single year. I've created an exclusive group with assigned territories and this is available for both P&C agents as well as EB agents. If you're interested in that, keep listening. If you're VERY INTERESTED in it and want to learn more, send me an email by first visiting my website at: www.constructiverisk.com

Episode Highlights:
Charles shares that he is making a pivot in his business by creating a network of insurance consultants who are hired by insurance buyers to provide unbiased advice for a flat fee. (2:41)
Charles discusses the challenges in selling insurance, including time-consuming data gathering and unresponsive marketing departments, and the benefits of being an insurance consultant. (5:53)
Charles mentions that an insurance consultant offers unbiased counsel and negotiates premiums down, typically saving clients 11-17% and potentially up to 55% of annual insurance costs, with fees ranging from $2,500 to $20,000. (9:39)
Charles explains that insurance agents can save clients money and provide value by representing multiple carriers, allowing them to be unbiased advisors and counselors to insured individuals. (13:48)
Charles discusses that having an insurance consultant instead of just trusting an agent can result in better outcomes and higher profits, with minimal expenses and no need for a physical office or additional staff. (18:40)
Charles discusses the downside of not having residuals like an insurance agent and the benefits of saving clients time and money through handling negotiations, managing policies, and providing risk management services. (20:56)
Charles mentions that an insurance consultant helps insurance buyers navigate the insurance process and ensures that agents have a fair opportunity to win business, benefiting both the buyer and the agents involved. (25:26)
Charles shares that he will be giving exclusivity in regards to the territory for insurance agents, with a focus on creating programs, obtaining endorsements, and providing marketing support to generate wealth and achieve personal goals. (29:13)
Key Quotes:
“I am creating a network of insurance consultants that are no longer having to sell insurance. They're now being hired by the insurance buyer and paid a flat fee to give them unbiased advice.” - Charles Specht
“As an insurance consultant, what I have to get the insurance buyer to understand is that I don't sell insurance, I'm not a competitor with their agent... I am completely separate from the entire placing of insurance, I am completely unbiased.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Constructive Risk
Permission Network Insurance Agency, Inc.
36 min

About 12X Commission

From the publisher's feed

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…