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AZDave at least there's a happy ending! 
Hitting 1MM In Business
- Thread starter nyc2phi
- Start date
Haha. That's what I did too!!
- 648
Ha... I did 2! Don't do that! She now stays away from the office.
I hit $1MM very quickly also. I have my phone system set up to where the client chooses the customer service option for their carrier and they are automatically transferred to that carriers customer service call center. Saves me a ton of work. I now have a part-timer I am going to bring on full time during the summer. I also have a college intern during the summer. My goal is that they handle the home & auto so I can focus more on life.
- 1,581
^i thought about that. How do they retain? When a Carrier slams somebody at renewal...if they go right to the carrier for service then how do u stop those flight risks?
You loose control when service work is transferred out of home. Best to keep it in house if you can. Never know if you get a lame carrier CSR who causes your client to leave.
I hit 1MM but still feel stressed out with our agency's CSR department. Many clients want.. No demand to talk with their agent.
It's all different for everyone. If your clients are high maintainence you may feel it at 700K.
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... By the way GREAT WORK hitting 1MM in such a short time.
Can you share your prospecting methods that got you there?
I hit 1MM but still feel stressed out with our agency's CSR department. Many clients want.. No demand to talk with their agent.
It's all different for everyone. If your clients are high maintainence you may feel it at 700K.
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... By the way GREAT WORK hitting 1MM in such a short time.
Can you share your prospecting methods that got you there?
- 648
That is the biggest challenge. Many people will email their concern.
I ran the numbers and what I would loose does not come near the new business numbers this frees up. Also, the book is not near enough to justify the cost of someone quoting renewals. I figure break even for someone to re-quote personal lines P&C is about a $3MM book.
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I understand you don't agree w/ my setup... However, I am not stressed out by service work
I am more stressed w/ keeping up w/ quoting while transitioning into more life.
- 274
Congrats! I'm assuming this is 1 million in premium. We jus hit 3.2 million in premium at year 4 as of March. Here were couple milestones for us: (right or wrong)
1. Hired PL producer at 250k in premium
2. Hired CSR at 1.5 Million in premium.
3. Hired 2nd PL producer at 2 million
4. Hired part time reporting / commissions reconciliation position at 2.5 mil
5. Hired CL producer 1 month ago at 3 million
6. Seeking another csr/ multi line rep now
We take advantage of all our carrier service centers. As of right now we are averaging growth of 150k per month
The best way to free yourself from your business is to creat processes procedures and systems that are written down and that your current staff can train your new staff on. The best way to grow your business is to hire more agents.
Producers- if your concerned about how to pay producers which most people are. I have 3 that are commission only. They are out there. You just have to make sure you are providing a proven system that is going to make sure with hard work the opportunity is there. You would be surprised how many people are willing to risk income and financial security for the best opportunity of a lifetime.
CSR. They cost money. That is all there is to it. If you feel like you need one you probably do. They will help you continue to focus on the goals of the business instead of the demand.
- Thread starter
- #29
Thank and you're advice was what I was looking for, congrats on your accomplishments as well.
rievandesign
Expert
- 51
nyc2phi, on a separate note, do you do any out of state business or does your business all take place in NY.
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