July 21, 2022

Throwback: How to Write Larger Revenue-Generating Accounts

34 minutes

Writing small accounts may help you pay the bills, but, you'll never achieve wealth writing small accounts. In today’s throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht teaches you how to determine what size account you should prospect and how to be more successful at building a Book of Business. Writing small accounts may help you pay the bills but, you'll never achieve wealth writing small accounts.

Episode Highlights:

Charles shares a story about his conversation with an insurance agent, who has been very successful over the last 5 years getting lots of new clients. (2:06)

Charles explains why producers should stop going after small accounts. (5:26)

Charles mentions what the agency principle should not allow their producers to do. (12:53)

Charles shares what could happen if you allow your producers to go after small accounts. (13:44)

Charles teaches you how to set prospecting goals with your producers. (14:34)

Charles explains what could happen if producers go after bigger accounts. (15:20)

Charles shares the advice he normally gives to his agents, regarding new accounts. (18:50)

Charles lays out the basic questions that you have to answer. (26:09)

Charles shares his takeaway from today’s episode. (27:21)

Key Quotes:

“There's a lot of things that I can say to insurance agents that help them become more successful. But, there are not too many things that I can do to help anyone be successful if they're just going to continue to play small, period.” - Charles Specht

“You don't have to go out for small accounts. You just have to make a decision that you're not going to be going after small accounts. You're going to go after bigger accounts. You have to actually come to a decision in your own mind about what is the size of the account that you're going to go after.” - Charles Specht

“If you stop going small and start going after the size of the account that you want to go after, you will make more money, you will likely have more joy in your business, and you will have more fun in what you do in your career.” - Charles Specht

Resources Mentioned:

Reach out to Charles Specht

Permission Network Insurance Agency, Inc.

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By Charles Specht

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