As the great business strategist Woody Allen is famous for saying, "80% of success is showing up." Somewhere along the line, far too many people in the risk and insurance space have lost sight of this simple reality.
In growing numbers, people think that they can email, text and voicemail their way through life. As people look to cut corners, they are regularly cutting their own throat when it comes to their professional success and that of their organization.
In our roles at Schul Baker Partners, we are in the business of recruiting mostly out-of-industry talent to fill the production and account service needs of our clients. This gives us a unique perspective on what companies are looking for in new employees and what it actually takes for them to succeed. While certainly the intellectual capacity to learn the business, professional appearance and a track record of sales success are always in the mix, we are increasingly seeing that our clients want people who will be present and engaged. They need people who are actually not optimistic about their future, but instead are driven to be present doing what it takes to create the abundance of opportunities that a successful future requires.
Present where?
Technology has given employees the ability to work from anywhere. This is a double-edged sword. They can work from home or a coffee shop, but that does not mean they should. In far too many cases they don't have the discipline to do so.
Our most successful sourced professionals are often seen as pests early on in their career. They are simply everywhere. In addition to building their own pipeline, they are in renewal strategy meetings, sitting in on brainstorming sessions, carrier presentations and asking to go out on client meetings. Additionally, they are always asking questions to learn as much as possible.
You may recall that in accounting there are two ways of valuing inventory. One is first in/first out (FIFO). The other is last in/first out (LIFO). We tell the candidates that we work with and then coach that they must use the FILO system of first in and last out. Get there early and leave late. It is worth it to build the wonderful future this industry can provide.
New to company talent must also attend all company social and community events to which they are invited. Half-time employees are fine, as long as they work 12 hours a day.
Building what we call connectivity, and starting a relationship, must be done by looking each other in the eye. (Photo: Shutterstock)
In addition to being present within their company, successful professionals must also be present at trade association meetings and functions within their selected vertical. Many companies pay significant individual or group membership fees for their people, only to have them be a no show, or come once or twice, crop dust the place with business cards and never return again. We bet a number of people you have seen at these events come to mind.
Presence also involves working on the committees of these organization. Our advice is for people to angle to get on the membership or education/programming committee. Here you have great exposure to the current and new members, or you are working to influence the voice of the organization.
We have also seen a growing plague of wanting to meet new prospects via conference calls. Clearly, there are geographic constraints here where an initial meeting in person is not logical, but for anything close to local that first meeting must be face-to-face with the prospect. Any prospect that is not willing to do this is likely not a serious prospect. Building what we call connectivity, and starting a relationship, must be done by looking each other in the eye.
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And perhaps this is the most shocking trend, and our true catalyst for writing this article, is that when a prospect agrees to become a client, the BOR is being emailed to them. This one is the hardest to explain. The decision maker agrees verbally at a meeting or during a follow-up communication to trust you as their advisor and you email it over? Really?
We have seen case after case where this lack of presence has resulted in major delays, and even lost deals. Just last week we were coaching an associate who complained about a prospect that had held the BOR for weeks. His company owner really complained that the expected revenue was still in limbo. The new producer offered to send another email to determine the status of the commitment. We more than strongly suggested that he go over and get it. When the CFO heard that he was in the lobby, he came out apologizing saying, "It has been on my desk for a couple weeks, but I have just been too busy to send it."
What about experienced players?
A lot of experienced producers and leaders feel that the size of their book, and grey/bald heads give them the right to be absentee players. It may give them the right, but is it in their best interest not to do so. These people end up missing out on a lot of the highly-constructive collaboration that takes place in the office. They also are not involved in the mentoring of new producers who can end up being great door openers to help expand their book.
One final concern is the burn out that takes place when an experienced player is not engaged. They fail to get the creative juices that come from interacting with other team members, and also leave their account service team on an island of uncertainty. By the way, this presence issue also involves being present with clients in helping them adjust and implement risk strategies well beyond the requisite 90 days before renewal.
Talk about not showing up!
One of the most shocking statistics we have ever run into is that every year about $2 billion in lottery prizes go unclaimed (money.cnn.com). Admittedly, the vast majority are small change prizes, but in 2015 alone 114 prizes worth $1 million or more went unclaimed! Now, if you are Woody Allen and have a net worth somewhere between $70 million and $80 million, you are likely still buying groceries if you let a winning ticket slide, but I am willing to bet that he would do his 80% and show up.
Where do you stand on being present to cash your "winning tickets"?
George Lucas, Ph.D. is Director of Coaching and Learning at Schul-Baker Partners. He can be reached at George@schulbaker.com. Bill Baker is CEO and president of Schul Baker Partners. He can be reached at Bill@schulbaker.com. Opinions expressed are the authors' own.
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