MRL #043- A Producer's 2 Best Friends

Roughly 9 out of 10 Producers fail.

If you take out the Producers who were gifted their book-o-biz, that number is even higher.

I’m guessing around 95%.

Why?

I have a few ideas.

1. The sales training in our industry is abysmal.

2. Most agencies suck at mentorship and succession planning.

3. National firms turn and burn way too many Producers, hoping a few stick.

Simply put…

The odds are not in a new Producer’s favor.

But, that’s okay.

Because we don’t play the victim card around these parts.

No sir.

We pick ourselves up by our bootstraps, and find a way or make a way.

So, in this letter, let’s talk about how to make a way when you don’t have a mentor.

You can supplement for a lack of mentorship, with 2 very specific people.

The first is…

#1- The Ride-Or-Die Peer Producer

Someone you can share the good, the bad, and the ugly with.

The life of a Producer can be lonely…

And worse… demoralizing.

You’ve gotta have somebody in your corner who you can share the bad stuff with…

Someone who will talk you off the cliff when all seems lost…

And encourage you to keep pushing.

But, they’re not just your therapist.

They’re also there to celebrate your wins with.

They’re your biggest cheerleader.

They’re a genuine friend.

They could be a friend inside your office…

A peer from a mastermind you joined…

Or even, as Micah and I are…

A LinkedIn connection two states away.

Four years and going strong, Micah and I have still never met in person.

Despite that, we still talk daily, share wins and losses, and even cofounded a business together (Max Revenue).

The next person you need is…

#2 The Wise Old Wholesale Broker

No, they don’t actually have to be old.

But the “wise” and “wholesale broker” parts are a must.

You can learn so much from a good wholesale broker:

• Coverages

• Competitive intel

• Current opportunities

• Info about other carriers

• How to qualify a good account

• How to deliver a proper submission

These are just a few things I’ve learned from my broker buddies.

The list goes on, ad infinitum.

Whatever industry you focus on, find a wholesale broker who will invest in you.

But remember, it’s a two way street.

You need to actually bring them deals and win a few.

Ask questions along the way…

Send them a Christmas card…

Check in on their kid’s graduation.

Just being a good person whose actually interested in them goes along way.

Don’t forget the old Dale Carnegie advice… (and I’m paraphrasing):

“The best way to get people to like you is to become genuinely interested in other people.”

This holds true whether we’re talking about a wholesale broker or a peer producer.

Ok…

To Recap…

Do you need a mentor?

No.

It would be nice, but they’re not required to be successful.

If you don’t have a mentor who should you seek out instead?

1. A fellow Producer to share the ups and downs with

2. A wholesale Broker who likes to teach and will show you the ropes

And there you have it…

This week’s newsletter.

Short, sweet, and to the point.

Kind of like this Macanudo Cru Royale I’m about to spark up.

It’s finally under 100 degrees in New Orleans, and I’m itching for a see-gar.

The kids are down…

The house is quiet…

And I’m gonna enjoy it.

Ok, that’s enough out of me.

This cigar ain’t gonna light itself.

See you next Sunday.

Kick ass take names,

Max “The Cigar Aficionado” Revenue

P.S. If you found this letter helpful… there are 3 other ways we can help you:

1. The Producer Playbook- The Step-By-Step Guide To Building A $1,000,000 Book of Business (From Scratch)

2. The Max Revenue Show- Our weekly podcast (available just about everywhere).

3. The Max Revenue Channel on YouTube- Weekly videos from Micah “The Zen Master of Commercial Insurance” Salas, including his new series “Diary of a New Producer.”