Scott Simmonds - Insurance Newsletter

Helping Insurance Experts Build Great Businesses
www.ICMentor.com

July, 2007

Remember Dr Pareto

Vilfredo Federico Damaso Pareto is the father of the 80/20 Rule. He was a French-Italian sociologist, economist, and philosopher. He lived from 1848 to 1923.

Eighty percent of your results will come from twenty percent of your efforts.

Eighty percent of your income will come from twenty percent of your work.

Eighty percent of your profit will come from twenty percent of your clients.

Eighty percent of your problems will come from twenty percent of your clients.

So...

Which clients are your most profitable?

Which clients cause you the most trouble?

What work provides you with the highest return?

What will you do with the answers to the above questions?

Solicit Speaking Engagements To Promote Your Business

Giving presentations to trade groups and chambers of commerce is a great way to get the word out about your practice. Call the group and ask for the person in charge of meetings. Tell him you have a selection of presentations that will help members save money on their insurance. Mention that you have information that the group probably has not heard before. You may be asked about the length of your presentation. The best answer is, “From 15 minutes to 2 hours. Tell me what you need.”

During your presentation don’t sell. Focus on value to your audience. Give them great information that helps them manage their insurance. Have a handout with your contact info and pass out business cards. You may find that you're speaking to small groups. Don’t worry, this can be an effective marketing tactic even if you only have 15 people in the audience. The idea is to get the word out about you, your practice, your approach, and your value. You are better off speaking to a group of 10 decision makers than a group of 200 who have no buying authority.

A key with most of these groups is that your presentation not be viewed as self promotional.

I've also been successful speaking to service clubs - Rotary, Kiwanis... My topic is usually insurance fraud for these diverse audiences.

I get at least one client from each presentation I make. I usually get several new subscribers to my newsletter when I circulate a sign-up sheet. The end result is always that I get more people who know my story, and that’s what it’s all about!

Referral Network - I'm building an online listing of insurance consultants. This may grow into a referral network and directory. I need to know who is out there! If you're interested in being a part of a directory, please complete the form. There is no cost or fee.

Consultant Mentor Program - Designed to help you build your business faster, with less hassle, and fewer false starts. Grow your current practice or gain the edge in your startup. The object is for you to make your business the best it can be - faster and more profitably. Visit my informational page at Consultant Mentor Program. Check out my Insurance Consultant's Handbook too.

Insurance Agent Mentor Program - Is your insurance career as successful as it can be? Is your book of business growing as fast as you would like? Is your retention as strong as others in your agency? I'm glad to talk about how we might be able to work together to build your book of business. Visit my informational page at Insurance Agent Mentor Program.

Please Forward This Newsletter To Other Insurance People

Scott Simmonds, CPCU, ARM
Insurance Consulting
Phone 207-284-0085
Fax 802-992-4027
Scott@ScottSimmonds.com
www.ScottSimmonds.com

Insurance Consultant Services Website: www.ICMentor.com

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Comments regarding insurance policies or products in this newsletter do not constitute an endorsement. I accept no fees of any kind from any company mentioned in this newsletter.