- I had a client of mine who recently bought
a little insurance brokerage business in New Zealand,
and wanted me to consult with him on how to take
this business that he just bought to the next level.
How do you go from just six figures
to a seven figure business?
How do you break through that million dollar mark?
I don't do a lot of consulting,
but from time to time when I see an interesting business,
when I see an entrepreneur who would benefit from my advice,
I do little bit of it.
So he came to me with this business
and after we viewed the business,
what is going on within the business that he bought,
also what are some of the potential opportunities
that we could tap into that he may not realize.
I gave him three strategies on how to grow his business,
a six figure insurance brokerage business,
to a seven figure business.
And his biggest profit generator is life insurance.
Now, life insurance, it is not something
that you and I wake up in the morning
and say hey, you know what?
Today's such a beautiful day,
let me buy some life insurance.
It's not something that most people are excited at buying,
it's not something that most people think about buying
unless something, unfortunately tragedy happened to them
in the past and now they're more aware
okay, maybe I do need some protections,
I need some, I need an insurance policy for my family.
And insurance is not the easiest thing to sell in the world,
simply because as a buyer,
I don't get any benefit from it, except when I'm gone.
I don't see anything, there's no,
it's intangible, I don't see a product, right?
It is an insurance policy, it's a back up plan,
it's something that I buy that would protect my family.
So even as a buyer, I don't get any benefit from it.
When I utilize it, it's my family
that are benefiting from it,
and the insurance industry is highly competitive.
There are different competitors within the market.
So after I looked at it, first of all, on his website,
they all have the same pitch, right?
Got a quote, get a quote on your insurance.
And I said that's not what you really want to do.
Insurance, it is not an existing demand,
it is a created demand.
It is something that you need to educate.
I call that an education sell.
You need to educate people why they need it,
and what kind of insurance that they need.
So here's what I did, and I think these three strategies
would benefit your business as well.
Number one, I asked him to write a book.
So we simply interview some of his best clients,
the business deal that he bought,
pick up the phone, we talked to a number of them
and we basically thanked them for the business,
appreciate their business,
and then we gave them a little gift,
and then we did an interview with them
to extract a story of why they buy insurance,
who they are, some of them are couples,
some of them are single family,
some of them are business owners.
So we take a dozen of those stories, we picked the best,
and then we put together a little book, plus his expertise.
Educating people on different types
of insurance products that they could buy.
So now he's got a book,
a simple book that he self-published,
nothing fancy by the way, a few dollars a book,
but we make it look very, very, very nice.
The second strategy is we use that book
as a lead generation tool on the internet.
So imagine this, instead of running traffic
and driving people to say hey,
get a quote on life insurance.
No, just because they don't need insurance today
doesn't mean they don't need insurance
three months from now.
Again, it is not a product that is top of mind awareness,
people are not thinking about this.
So instead of driving people to buy insurance right now,
we are only talking to people who are thinking about it,
or maybe they are not even thinking about buying insurance,
but this book would help them.
He would market this book online
and he actually gives away the book for free.
And from there, he builds up this massive pipeline of people
who are thinking about insurance,
who are interested in insurance,
who might not be thinking they even need insurance,
he's got this pipeline.
He's not selling insurance.
We are creating the demand first.
Then from there, with the book,
we will invite them to a two hour,
two hour 30 minute special training session.
It's like a seminar on finance.
So now he is being positioned as
the expert on the subject just in his city.
Who else, what other insurance broker's got a book?
No one.
Now they attend a two hour,
two hour 30 minute with a Q and A sessions
on just helping them, all education, all pure value.
No selling, no pitching, nothing.
And the event is free, also free.
From the event, then at the end of his talk,
all we do, you offer a very simple,
very simple strategy session to reveal their plan.
What kind of insurance products that they might need.
Again, no pitch.
Then when he sits down with them,
also his agents sit down with them,
they can see okay here,
you're lacking a bit of protection here,
you need a better policy here,
you need to upgrade, increase a premium,
whatever it might be.
We look at a plan, and by the time this is all done,
his closing ratio is way, way, way over average.
Because think about it, from the book to the event
to now sitting down with them one on one,
giving them the custom plan,
custom financial plan for their family.
They say you go to see a dentist,
you do a checkup, and say oh, I have cavities,
you need to fix that right now.
Okay yeah, I need to fix it.
You go through their financial plan,
yeah, you actually need more insurance here,
you need that, or you need to change your plan,
yeah of course, please.
Then by that time, it is very, very simple.
So that's the second strategy that I gave him.
The third strategy is actually very, very simple.
Then we also identify that one of his best markets
is actually business owners.
Business owners who are high income, but under-invested.
I call high income invested.
So they have a lot of income cash flow coming in,
but really they don't have a lot of plans, right?
Not much financial planning.
So as a business owner himself,
then I ask him to actually go
to different local business groups, same thing.
Just give value, do a 30 minute, do a 60 minute talk
for those business owners about just insurance.
From those three simple strategies that he implements
it positions him properly, it differentiates him
from anybody else in the marketplace.
When everybody else is handing out business cards,
he is giving people a book, giving people a book.
By the way, when he also, when he's speaking
at those local business groups,
he also gives everyone a free copy of his book,
an autographed copy, you see how?
That right there positions him
as the go-to guy for what he does.
Then when people need professional insurance advice,
they call his company.
It's that simple, we took his business
from six figure to seven figure
within an extremely short period of time.
I hire a lot of consultants within my own business
to come in and help me with planning, systems, software,
and a number of things,
and I would suggest you do the same thing.
If you've been following me for some time
and you are a business owner, and you're kind of stuck.
When you have a good business,
you have a successful business,
but you're stuck on how do you to get to that next level,
go to the seven figure, go to that eight figure,
what do you need to do?
If you're serious, you can book a time with my team
by clicking the link below.
We don't take on a lot of consulting clients,
but if you are a good fit,
if I can add value to what you do,
you can book a time.
So go ahead and do that.