Business of Insurance Podcast
Episode 72 - If you’ve been listening to the last few episodes, we’ve been breaking down the steps you need to consider before starting a business. The concepts shared in these episodes are the foundation of building a successful business, no matter what kind. Bottom line in business is You Don’t Know What You Don’t Know You see, too many people jump into starting a business without doing any planning. Then they wonder why they aren’t finding success, as if business should just fall from the sky! For some people even if they don’t plan, they might get lucky but the majority of...
info_outline Business Pre Planning Part 2Business of Insurance Podcast
EP -71 If you haven't listened to episodes 65-71, they set the stage for this final episode on things to think about when starting your own insurance business. Regardless if you are starting an agency, an insurance company or a related business to the insurance industry like technology, claims or risk management, the concepts of starting a business are the same. These are discussed in these episodes and can help with your thought processes and planning. Pre-planning, part 2 provides ideas to implement 6-12 months before you are ready to open your doors. If you don't have a year to plan...
info_outline Business Pre Planning Part 1Business of Insurance Podcast
EP - 70 This episode provides additional insight into starting your own business in the insurance industry. We'll cover ideas to help you map out the process over the course of several months so you don’t have to do everything at one time. We'll talk about tasks that can be broken down over 12 months or done in 30 days if you don't have much time. Month 1 -2 Define your ideas - what area are you going into? Agency, carrier, claims, Life, health, will you just do something like work comp, airlines or medicare? Maybe you are thinking technology in the form of a CRM for insurance, maybe...
info_outline Who Should Be On Your TeamBusiness of Insurance Podcast
EP 69 - We get training for being an insurance agent but we don’t get training for being a business owner. They are two completely different hats. If you want to succeed in Business you need to have a team. I was recently listening to another podcast with an angel investor and she said the first thing she looks for is who is on the team and what is their experience. You need a team. It’s nice to think you can do everything yourself, but something will be lacking if you don’t bring on help. So here’s what your team should look like. Accountant Consult with an accountant for...
info_outline Understanding The Business Owner MindsetBusiness of Insurance Podcast
Today’s episode is one of several episodes about how to get started in the insurance business. I’m not talking about becoming an agent, I’m talking to those of you that are thinking about starting an agency, an insurance company, or an an insuretech business. There’s a lot more to hanging a shingle that says you are open. As part of the planning process for starting a business there are some concepts to consider, these are about yourself. As exciting as it is to start a business, there’s a lot to consider. It’s not all glamor and glory! Most business owners would agree it’s a lot...
info_outline How To Start A Business Without FailingBusiness of Insurance Podcast
WHY DO BUSINESSES FAIL? EP 66 - In this episode, we are talking about the top 10 reaosns businesses fail and what you can do to keep your business from failing. This episode is one of several episodes about how to get started in the insurance business. I’m not talking about becoming an agent, I’m talking to those of you that are thinking about starting an agency, an insurance company, or an an insuretech business. These are real issues to consider. It’s geared for those of you who are thinking about getting started or those that have started and are looking for ideas to build a better...
info_outline Don't Be Fooled By Entity StructuresBusiness of Insurance Podcast
SET UP YOUR BUSINESS PROPERLY EP 65 - Today’s episode is one of several episodes about how to get started in business. Some of you might be working for someone now and thinking about going off on your own and some of you might just be entering the industry and doing so as an independent. If you are in either of these two categories or if you are someone that works with agents that are working independently, this episode is for you. I started in this industry on the property and casualty side and quickly moved into commercial insurance when I started. Working with my dad, his personal...
info_outline Risk Management BasicsBusiness of Insurance Podcast
SMALL THINGS MAKE A BIG DIFFERENCE EP 64 - Todays episode was inspired by a recent CE class on Ethics. There were many great ideas shared, in a boring ethics class, but the tips I'm sharing today were from the discussion. There was actually a list of 50 risk management tips and I've taken 10 of them and offered my thoughts on them from my own experience in the industry. States didn't always require ethics, it's only been a requirement for about 20 years. When I first entered the busines we didn’t have to take ethics. It’s a good refresher but it can also be boring! I’ve...
info_outline Making An ImpactBusiness of Insurance Podcast
THERE IS MORE TO THIS INDUSTRY THAN MAKING MONEY EP 63 - Like teachers, social workers and doctors and nurses, you have the power to make a difference. This episode provides three examples of how people have benefited from having a solid insurance policy and an agent that will works for them. It also talks about a few situations where agents need to do a little more to protect the people they serve. CHECK OUT OUR SPONSOR: This is a mailing service I’ve been using for over a year now and I love them. I send all of my birthday cards, thank you cards and marketing post cards from this...
info_outline Continuing Education ThoughtsBusiness of Insurance Podcast
STAYING FOCUSED ON A MONITOR FOR 8 HOURS EP 62 - This episode is about getting CE credits As a CIC, we are required to do annual updates and the classes are usually a deep dive into a topic that you won’t find elsewhere. I’ve done updates every year since 1992. In 2012 I did an update and received a certificate that I had been a CIC for 20 years. To my surprise that meant that I only had to do my CIC update every other year now, instead of every year. This created CE issues for me because I need 24 hours of CE’s a year in my state and since the CIC updates are only 16 hours, I’ve...
info_outlineHOW TO PREP FOR YOUR FIRST NETWORKING EVENT
EP 61 - IF YOU ARE NEW TO NETWORKING, THIS EPISODE IS FOR YOU.
My name is Debbie DeChambeau, I’m your host, I’m an entrepreneur, business advisor, insurance professional and content creator. I want to inspire you to think differently and explore ideas that disrupt the status quo.
When I’m not helping individuals with insurance, I facilitate business development groups. Before COVID, they were all in person. Today, they are all virtual. I facilitate 5 a week and have been doing this straight through COVID!
For years I’ve been told I’m a great facilitator, but transitioning the skills to virtual has taken some time. I think I’ve mastered it, but I’m always observing others and tweaking my skills. I create the agenda’s and because I’ve been doing this for so long and I’m a lifelong learner, I usually add some golden nuggets to help with the topic of discussion.
Recently we had a discussion about networking and members were asked to share their best networking tip for someone new to networking. I’ve compiled them and added some commentary, hoping these ideas will help you become a better networker. If you’ve been locked down in COVID, if you are new to networking or if you want to be a better networker, I think you’ll appreciate some of these ideas. I’m going to share the tip that was provided and then add some commentary to help you understand the context and how you might incorporate the idea into your own style.
For this conversation, let’s assume that you are going to an event that is specific for networking. It could be an event that has 10 people or 100, the number there really doesn’t matter. In my opinion, the number of attendees really doesn’t matter. If you are at the right event with the right people, you’ll get value.
In preparation for this event, here’s a few tips that were provided:
- Networking is a long game and doesn’t happen overnight.
- Plan ahead what you want to get out of the meeting/ goals/ who are you looking to meet/ engage the other person and get to know them vs. them really getting to know you.
- If you know who is going to be at the event, research 2-3 people that you really want to meet
- Set a goal, maybe to meet 5 new people, force yourself out of your comfort zone
- Try to diversify your network - don’t be afraid to network outside of your sphere Good reason to follow up with everyone!
- Plan time for follow up - need a plan for this
- Block time on your calendar
- Connect on LinkedIn / Social
- Send an email
- Send a handwritten note
- Follow up with everyone
- Go to the event alone - encourages you to step out of your comfort zone and to talk to people you don’t know.
- Key to networking is to network, don't stand in a corner alone
- Get there early, be one of the first ones to pick up the name / tag, there's a few people you know, just in case
- Force yourself to just show up
- Save alcohol and food for later
Try different type of events at first to see what works best for you and what feels most comfortable - i.e. big events vs. small; lunches or happy hours
- Initially, you might go to every event, but afterwhile, you’ll need and want to be more selective about the events that you attend.
- Understand who you are targeting and attend events that are focused on your target market
Have your intro prepared so that it sounds polished but not salsey. Have a simple 5-10 seconds/ 30 seconds and a 60 second intro prepared because you never know what amount of time you’ll be allotted.
- 15 second: My name is Debbie DeChambeau, I’m a medicare broker and I help people navigate the Medicare Maze
- 30 second: My name is Debbie DeChambeau, I help people navigate the Medicare maze by educating them on their options, answering questions and researching the best plans based on their lifestyle
- 60 second: My name is Debbie Dechambeau, I am a Medicare broker, working with people that are turning 65, retiring or on disability and in need of Medicare Insurance. I help people understand all of the rules around Medicare and also educate them on their options from original medicare to medicare advantage (you know, those Joe Namath commercials) and everything in between. This includes dental, vision, hearing and cancer. We talk about some of the things they can expect from Medicare and how to plan accordingly.
- Practicing your introduction
NOT SURE WHAT TO TALK ABOUT?
Think about the following:
- FORD - FAMILY, OCCUPATION, RECREATION, DREAMS
- Try to connect with people on a personal level. If you don't feel a vibe, you probably won't connect professionally
- Relax and let yourself off the hook. It’s about having a conversation that is hopefully memorable. Your conversations don’t have to be work related. Remember, the first meeting is a starting point.
When you meet with someone that you already know,
- ask them how you can help them
- ask them to tell you something about what they do that you don’t already know.
Be patient, know that it's not going to happen overnight, need to build the relationship; Before you get referrals, people need to know, like and trust you. One way to start that is to see what you can do to help someone else. Try to give more than you receive
VIRTUAL EVENTS
- Virtually, put your contact information in the chat.
- Save the chat, be sure to follow up