7 BIG Strategies
If your business is built around these seven key strategies, even an economic downturn won’t mean the end of business as you know it. And the ups and downs of insurance pricing will be just an inconvenience. You'll always be in a position to say, "Business Is Great!"
These simple strategies aren't always easy - when each day brings a new set of urgent priorities. But these are huge strategies. When you get these right, everything else is right, too.
Strategy 1: Design Your Own Future
Envision your business as you want it to be tomorrow. And then design your own future - today. It's more than marketing and sales plans. It's being able to respond to a changing environment. It's deciding how you want to impact your world!
Companies with written business plans have 100% higher profits. Since less than 30% of all businesses plan, you'll be ahead of the pack if you think strategically about your business.
Strategy 2: Share Your Vision
Your employees can't help you accomplish your goals if they don't know what your goals are. And they need to know what's in it for them. Documenting your plan isn't enough.
Engage your employees in your vision.
Strategy 3: Be an Employer of Choice
Caring about your employees means providing a connected work environment, tools to do the job, and training and development. Happy employees are more productive - exponentially so.
When you care about your employees they care about your customers and keep them coming back. Be a business where the best people want to work.
Strategy 4: Listen to the Voice of Your Customer
Good customer service is important. But how does your customer define "good?" Only by understanding what your customer values will you be able to deliver products and services that exceed their expectations.
Listen to the voice of your customer and you can define excellence.
Strategy 5: Create Competitive Advantage
Everyone needs insurance. But why should they buy from you rather than the agency down the street - or the Internet?
Set your agency above the crowd and you won't have to search for customers - they'll flock to your door.
Strategy 6: Seek Continuous Improvement
Achieving perfection is impossible. Excellence, on the other hand, is the way to infinite success. And the way to get there and stay there is to constantly look for improvements - in your sales, in your processes, in your organization, in your technology, in your profits.
Encourage positive change in your business and reap the benefits.
Strategy 7: Focus on Value vs. Profit
The value of your business is more than just a matter of income and expenses. The financial strength that results in a profitable income stream depends in part upon intangibles that are the intrinsic value of your agency - your culture, the professionalism of your organization and the management of the business.
Manage the intangibles and you'll put more real dollars in your pocket.
That's all there is to it. Seven "simple" steps. 7 BIG Strategies. And they're listed in just the right order - each builds on the other. It's a process, not an event.
Likely you already have some of these strategies in place and working well in your business. If you're missing one, or more, you can get started today.
Call for help implementing any or all of the 7 BIG Strategies. 530.295.1093