Randy Schwantz in Insurance Agencies
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February 27, 2024 – 4 min read
Randy Schwantz in Insurance Agencies
Randy Schwantz in Insurance Agencies
Discover how to bridge the Capability Gap and unlock your sales team’s full potential with insights from Nick Saban’s ‘The Process’. Learn actionable strategies to target top-value accounts and transform your sales culture for unparalleled success.
I bring up “The Process” by Nick Saban a lot. It’s his method to winning championship after championship. He explains that his focus is always on the Capability Gap of his team members.
In an earlier article I mentioned that the Capability Gap is what you’re capable of versus what you’re actually doing. So how do you identify what your producers are actually capable of? Well first you figure out the variables to winning in Middle-Market insurance. Don’t worry, I listed the winning variables for you right here. Then, you do some simple maths.
Let’s break it down.
Most producers plan to acquire more of the median. More of the average. Where they should be looking to acquire more of their top accounts.
Here’s how to calculate what they’re actually capable of. First, divide a producer’s accounts into four categories:
Now drop categories 2 through 4, and take the average of the “Top category”. That’s what they’re capable of. That’s what they should be chasing.
Here’s an example right out of Bignition:
This producer plans to acquire an average account value of $15,000 in ARR. Where they are capable of going after accounts valued at $37,208.
They’re playing at the average level, but they’re capable of doing twice that!
This is nothing remarkable, but a lot of producers are playing with lousy databases and with a huge gap.
The way I see it, have seen it, and know to be true, is that a winning sales culture isn’t built on software; it’s built on strategy, resilience, and the relentless pursuit of excellence.
You can only do that by leading teams of producers to help them close their capability gaps. Measure the variables you can control, and take action on where the ball is being dropped. It’s that simple.
Sales isn’t a game of chance; it’s a game of skill, strategy, and, most importantly, understanding the capability gap.
Again, this gap is the difference between potential and actual performance. And here’s the kicker: it’s costing you. Not just in potential revenue but in actual, hard-earned dollars.
If you want to win… It’s time you confront this gap head-on.
– Randy Schwantz
Want to have direct access to those variables at your fingertips? Apply to work with Randy right here.
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The Wedge Sales Culture is credited as the engine of this growth, and this case study explores how the agency has implemented and benefited from this process.
“Hire Producers with Confidence” Use Our Evidence-Based Interview Process to Eliminate Candidates Who Don’t Have GRIT
With my evidence based interview process you can be sure that your next hire has the GRIT to fight through walls and achieve success selling commercial insurance.
Growing Your Agency Just Got Way Easier
Do you want to work with me to grow your agency?
Take 90-seconds to complete this application
to see if you are eligible for a Growth Session.
How the Wedge Sales Culture Drove New Business Growth
The Wedge Sales Culture is credited as the engine of this growth, and this case study explores how the agency has implemented and benefited from this process.
“Hire Producers with Confidence” Use Our Evidence-Based Interview Process to Eliminate Candidates Who Don’t Have GRIT
With my evidence based interview process you can be sure that your next hire has the GRIT to fight through walls and achieve success selling commercial insurance.
Growing Your Agency Just Got Way Easier
Do you want to work with me to grow your agency?
Take 90-seconds to complete this application
to see if you are eligible for a Growth Session.