MRL #042- Revenue's Hierarchy of Producer Needs

Just finished an 8 hour binge-a-thon of my favorite Netflix series, ALONE.

The wife and kids are out of town this weekend so I’ve been indulging in a few guilty pleasures…

Cigars…

Red meat…

And early bed times.

Ahhhhh!

It’s the little things in life.

Anyways…

If you’ve never seen the show ALONE, I highly recommend it.

The premise of the show is…

10 people are taken out into the wilderness…

Dropped in different spots by themselves…

And the last one standing wins $500,000.

They can take a few items with them but not much.

The fascinating part about the show is watching who prioritizes what.

Some contestants focus on food first…

Others focus on shelter…

Others focus on collecting firewood and building a fire.

Now, I’m no survivalist so I’m definitely not an expert.

But, you begin to notice very quickly that many of the contestants focus on the wrong thing to start…

For example, they start building their shelter when they should focus on food.

Or visa versa.

And this got me thinking…

How Producers make the same mistake of…

Prioritizing the wrong things

So I asked myself:

Self…

If you had to build a priority list of what it takes to survive as a Producer in the wild… what would you suggest… and in what order?

Now, I knew right away the four key steps…

But, I needed a framework for it.

So I thought and thought…

The Four Horsemen of The Apocalypse?

Cool?

Yes.

But… a bit bleak.

So I thought a little more.

And then I got it…

Maslow’s Heirarchy of Needs!

But for Producers.

So, here it is…

Revenue’s Hierarchy of Producer Needs

Like Maslow’s Hierarchy of Needs, levels lower down in the hierarchy must be satisfied before individuals can attend to higher needs.

Let’s dig in.

Level 1- Prospecting & Sales

“Prospecting & Sales” are the fundamental requirement for survival as a Producer.

You can survive without the other 4 levels.

You cannot survive without Level 1.

You must become proficient at Prospecting & Sales or your dead.

Level 2- Agency & Markets

Once you have Level 1 squared away, now you need the right Agency & Market Access.

Without them you cannot grow.

You will need some level of support, and access to all (or most) markets to continue upwards.

Next comes…

Level 3- Coverage Expertise

This is one area where Producers prioritize the wrong things first.

They think they need “Coverage Expertise” before Levels 1 and 2.

Big mistake.

Coverage Expertise holds no value if you can’t Prospect & Sale and have no (or suboptimal) Agency Support & Market Access.

You’re literally pissing into the wind.

Pointless.

Level 3 is important…

But, Levels 1 and 2 must come first to continue upwards.

Finally, we have…

Level 4- Niche

Once you have Levels 1, 2 and 3 down, you can move to Level 4.

Level 4 is where you Niche.

Based on what you have at your disposal in levels 1-3 you make an educated guess where you can niche down and win.

When done correctly and in the right order, Level 4 unlocks your full Producer potential.

To recap…

First things first!

All Producers must start at Level 1.

Unless of course, Daddy is gifting you his book-o-biz.

But, that’s another quibble for another day.

If your a self-made Producer it’s crucial that you lay your foundation in “Prospecting & Sales”.

If not, you’re guaranteed not to survive.

Like food, shelter, and water it is the most fundamental “need” you have.

Once achieved you can begin to work your way upwards.

And with time and a little luck you might just find yourself perched atop Revenue’s pyramid thingy…

Fat, happy, and maxxing your potential.

Sorry to go all Signmund Freud on you…

But I honestly I think this is super important.

No exaggeration… I’ve talked with over 1,000 Producers in the last 5 years…

Most of which didn’t survive…

But, the ones who did, got these 4 things right and in the right order.

And doggonit, I want you to be one of them too.

Got it?!?!

Ok, that’s enough out of me.

Getting too emotional for my liking.

Hope you have a killer week.

Give em hell.

See you next Sunday.

Kick ass take names,

Max “Maslow” 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.”