It's about the relationship . . .
I had a great conversation today with a someone I consider a friend who also happens to be a past client . Some things he said really struck a chord with me - given what I've been teaching for years now.
Bill Bergdoll of Bergdoll Insurance has recently completely overhauled his business and business model, given the shift in the economy. He scaled back his operation to the bare bones and began to circle back around to talk with clients that his agents had brought in (network development). He discovered that many of them, while having a policy, only had an auto or a motorcycle insured by his agency.
Why?
Because the agents never really thought about the people with whom they talked as a person to have a relationship with. The agents were focused on the transaction.
He said to me "I want to call them up and let them know how much money they really left on the table."
In one conversation he found that a client had several homes, motorcycles, cars, boats, etc. He was able to help that client save a considerable amount on his overall cost of insurance.
Why am I talking about this?
Because many of you are leaving lots of money on the table. Heck, as I sit here, I can see I'm probably doing the same.
And that money that's being left on the table represents value we can bring to our current book of business. The people we already spent the time, energy, and money to acquire. You don't even need to think about developing new sources of business - it's already there.
In business development, it is all about the relationship.
I challenge you to look at your book. Read the CAN - PAN - FAN article I wrote. Really audit your book of relationships. And see how you might be able to deepen the value you bring your clients.
Remember that in dynamic economic conditions, it's the dynamic that profit.
Raymond Chip Lambert
Network 2 Networth
Deep Business Development
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