Episode 165: People Do Business with People with Andrew Wynn

 

With a mission to modernize insurance’s financial infrastructure, Ascend’s co-founder, Andrew Wynn, joins me to discuss not only how Ascend can help you grow your business and create wealth so that you have more freedom, but they are also going to give you more freedom. Whether or not accounting is your strong suit, this episode will help you discover the efficiencies you need in your business today.

Key Takeaways:

  • Discover how Andrew and his partner, Praveen, got into marketing to insurance companies to help agencies focus on the client and not worry so much about the infrastructure like accounting and payments.
  • With the advancement of technology, we started investing in carrier-focused tech and perhaps have gone too far with all the insurtech companies
  • As the capability grows, consumers don’t want to buy insurance from a computer but instead from a person who is going to be enabled through technology.
  • Companies are shifting their direct bill to Ascend because they want to own that customer expense and receive commissions earlier
  • When the sale is ready, make it as frictionless as possible to complete the transaction
  • Traditionally insurance has been a virtual product sold in a physical building and it does not need to be that way.
  • When you’re myopically focused on the little parts of the business, you sometimes forget the bigger picture.

 

About Ascend

Ascend is founded by two-time insurtech entrepreneurs, Andrew Wynn, and Praveen Chekuri, who built a home maintenance startup called Sheltr, which provides homeowners with routine preventative maintenance service and diagnostics to offer data-driven proactive care to catch issues before they become costly repairs. The company became the first acquisition made by insurtech unicorn Hippo because of its intuitive and technological approach to building an insurance product that went beyond the customer interaction. Prior to Sheltr, both Andrew and Praveen were employees at Instacart, leading the company’s product and data integration teams.

https://www.useascend.com/

 

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Website: http://unstoppableprofitproducer.com/
Virtual Events: http://www.uppfaststart.com/

Email [email protected]

Episode 164: A Culture of Ownership

Cultural transformation.  The culture of your business is changing, and you need to meet it head-on to adapt and continue to grow your business.  In this episode, I will discuss some key ways to help you transform your business to get a Culture of Ownership with accountability and empowerment. You will also discover the eight characteristics of a culture of ownership

Key Takeaways:

  • Empowerment – You want everybody to be empowered to be able to act and operate and to make their decisions on their own without the intervention of anybody else as if they were an owner.
  • If you want an uptick in your growth, it starts with you.
  • Every business should have identified at its core what its values are.
  • You should have somewhere between three and seven identified core values.
  • There are 20 characteristics to incorporate into your beliefs to help build your core values
  • When you create a culture of ownership, you’ve got patriots, not mercenaries.
  • If you’re going to transform your culture, you’ve got to take steps to coach them, to lead them on why this is important
  • The eight characteristics of a culture of ownership are based on you having a plan that they can buy int

 

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Website: http://unstoppableprofitproducer.com/
Virtual Events: http://www.uppfaststart.com/

Email [email protected]

Episode 163: True Profitability

 

How close attention do you pay to your numbers? You cannot understand your true profitability if you don’t know your numbers.

In this episode, I am going to take you through some of our most profitable years, looking specifically at marketing, technology, and payroll numbers. Through reviewing how we were profitable you will be able to learn the key areas to look for within your own agency’s finances.  I also take you through the KPIs that you must be aware of all the time.

Key Takeaways:

  • Ensure you are monitoring your profit-loss statements at least once a month and that your reconciliations are completed each month
  • 20 to 30% range of gross income should be your net profit
  • Depending on your needs and strategy, an average of 11.5% of gross revenue is a respectable amount.
  • Don’t spend an exorbitant amount on technology, around 3% of your gross revenue
  • Payroll will always be your highest expense and on average around 35-40% of revenue, not including the CEO or owner’s compensation.
  • Monitor your online bank accounts so that you can fix anything that is off immediately
  • Know your number of enforce policies, always know those KPIs or have quick access to them
  • Time Premium Retention is not a good gauge of true growth and profitability
  • Do you know the top five sources of new business getting written within your agency?
  • Determine your revenue per employee.
  • Know your breakdown of commercial versus personal versus life and health insurance.

 

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

Episode 162: 45 Days That Will Change an Agent’s Life

Can 45 days really change your life as an agent, personally and professionally? Forever?

Too often we let setbacks bring us down rather than using them as a learning experience.  So I pose you this question “What would you do, based on what you know now if you had 45 days to work 100% of the time on your business”?  Discover how this key question, coupled with some strategies, can help you achieve your goals and exceed them.

Key Takeaways:

  • Build out your recruiting system for your future organization.
  • Create a world-class culture that supports the entire organization.
  • Build out your entire agency processes roadmap for future agency operation.
  • Have a process of accountability within your own organization, not only for yourself but for your teammates
  • Map out your entire marketing promotion and marketing program for your agency business.
  • Continually develop your social proof campaign, everything from online reviews, to testimonials, to case studies, to video testimonials to written reviews.
  • Design his own personal development roadmap.

 

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

Episode 161: Accountability Breeds Responsibility

At UPP we coach leaders through the skills of recruiting, interviewing, hiring, onboarding, training, motivation, and one of the most important skills, accountability. When you have accountability, you have responsibility. I am going to focus mainly on personal accountability; however, you can take these strategies that I am going to give you and build them for your team and organizational accountability as well.

Key Takeaways:

  • When you build accountability into your world and into your life, into your daily habits, it will change everything for you forever
  • There are no limits. The only limitations that you have are those that you make for yourself in your mind and this self-accountability will help you reach beyond that.
  • Find an Accountability Partner to help you stay focused on being accountable for what you set out to do and what you said you were going to do
  • Set three top goals for the day, the week, the month, and the quarter and make them all interrelated.
  • An Accountably Partner should be as committed as you are, 100% willing to do the work, and 100% trustworthy.

 

Resource Mentioned:

Living Your Best Year Ever -Published by Darren Hardy

 

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

Episode 160: The ONE THING You Must Bet On

Are you a glass is half empty or half full type of person? Today I am going to be talking to you about your “Pattitude”, your Positive Attitude.  How you view the world and yourself changes your outcomes and I am going to share the strategies to help set the mindset to create that positive energy as an investment in yourself and in your business.

Key Takeaways:

  • Watch your perspective. Don’t think that you have to do this or get to that, but rather it is your privilege to get to do it.
  • Everything starts with you. “If you want to have more, you have to become more’ – Jim Rohn
  • Don’t try to figure things out on your own. There are already others who have, so learn from them.
  • What is the first thing that you do every single morning to become more?
  • Your philosophy shapes your attitude.
  • The core actions and activities that you do every single day will help to keep you grounded.
  • A clear vision and a plan for the next 5+ years can help give you that core focus you need
  • Find an accountability partner to connect with to keep each other on track.
  • Don’t let the sources of negativity consume you.

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

Episode 159: Acre of Diamonds

Are you scrabbling around for new clientele or are you taking advantage of the prospects that are already in front of you?  Too often we let slip through our hands the opportunities to expand what we already have.  And today I am going to talk to you about how to go about doing that so that you are cultivating from your acre of diamonds.

Key Takeaways:

  • If you have 800 clients, you have about 80,000 opportunities already within your grasp
  • It is your duty and responsibility to protect everything that people work hard for, so aim for having 3 policies per client. This increases retention drastically.
  • Be proactive instead of reactive. Add additional lines of business on proposals and follow-up.
  • People buy with their hearts, not their minds, so you must emotionally engage with them.
  • Discover your potential clients’ preferred method of communication and use that.
  • Create a new client welcome kit that strategically gets them the right information at the right time as a beloved new client
  • You want to have top-of-mind awareness with your clientele but you also want to have top-of-heart awareness as well.
  • Employee 60% relationship building, 20% insurance information, and 20% fluff into your newsletters
  • Incorporate a referral program to increase your maximum ROI
  • Use tactics that will grab their attention.
  • You will never know how much you can do until you put the maximum effort out there

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

Episode 158: Training Your NEW Service Team Member

If you want to have a world-class business, you have to have a world-class team.  The two ways to ensure this, are through leadership and training.  Today’s topic is focusing on training, specifically client retention. How do you do that? By ensuring your service personnel receives the training that they need to be successful and I am going to cover what the first 4 weeks can look like within your organization.

Key Takeaways:

  • Just like an athlete, training needs to occur every day.
  • Training is the fifth of 8 essential segments to “growing” somebody up in an insurance agency business
  • The first initial onboarding of a new service member sets the tone for success. Ensure you are prepared for their first day.
  • Set goals for the first week of training and assign mentors
  • Evaluate the member at the end of each week and if they are not meeting expectations ask them what can be done differently to help them achieve their highest possible level
  • The second week is all about gaining confidence in the agency systems.
  • Start accountability at the beginning but ensure that this is all about support for success.
  • Always ensure that the new member knows the reasons why behind the processes. Do not hesitate to reinforce and reiterate.
  • Week four is all about building upon the learnings of the first three weeks.
  • Reinforce the See, Do, Teach philosophy – One day they observe; the second day they put it into practice, and the third day they teach it to somebody else. Repeat until they have it down.

 

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

Episode 157: Nextdoor Ninja with Kim Angeli

With 15+ years of experience as an independent insurance agency entrepreneur, Kim Angeli knows the importance of connection in creating a successful business.   One of the more underutilized methods to do this is Nextdoor, an app for neighborhoods where you can instantly connect with people, businesses, and happenings near your home. Kim walks us through the best ways to use this app to build relationships and success.

Key Takeaways:

  • During the covid lockdown, people moved away from Facebook to Nextdoor as they were able to readily find information about what they needed locally.
  • Nextdoor has experienced significant growth and has added many features on the business pages that can be used to your advantage
  • You have to manage your reputation, so keep Nextdoor up-to-date with your branding, etc
  • Nextdoor allows two business posts a month, an equivalent of $3500 in free marketing
  • The cumulative effect on Nextdoor to get yourself the visibility you need
  • With greater SEO and AI, the more hearts that you can gather from local residents, the greater visibility you garner
  • National sponsors do not get hearts so local businesses are more prevalent on the pages
  • Have at least five hearts before you go and post your advertising or marketing from next door because it doesn’t look professional.
  • Hearts are the keys to the recipe of success for next door.
  • Interact with and appreciate those who gave you recommendations. Interaction is important in order to build those connections.
  • 68% of people will leave you and never do business with you again because they feel unappreciated

 

About our Guest:

KIM ANGELI, is a unique entrepreneur with a diverse background. Kim is known globally as the creator of The Grateful Box®, Grumpy to Grateful and Nextdoor Business Mastery Programs. She is passionate about teaching business owners how to WOW clients, increase revenue and inspire referrals.  She began her career after graduating from East Carolina University with Campbell Soup Sales, transitioned to technology, helping Sprint bring the first digital mobile phone to the world and her final Corporate America job at Cisco Systems. After finding herself in the “dot com bust” she started her insurance agency from scratch 11 days after 9/11. After 15 years of owning, growing and merging insurance agencies under her practice she sold that practice and took the leap into inspiring grateful living around the world.  Kim has been featured in Business News Daily, Authority Magazine, Reminder Media Stay Paid Podcast and is a sought after keynote speaker on her programs, including An Attitude of Gratitude in the Workplace, How to take a grumpy client to grateful, and giving business owners strategies to WOW clients.  When she is not speaking and teaching, you will find her traveling with her husband, daughter and black lab. She is also an avid boater, reader and spa junkie.  You will also find her hanging out with her Rotary Family around the world serving others.

www.kimangeli.com

[email protected]

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

Episode 156: BOLDER is Better with Selah Hirsch

The conversation is going to flow in this week’s episode as I am joined once again by the incomparable Selah Hirsch.  Selah brings magnetic energy and vision to help business owners and leaders break out of the generic and build bigger, better, and bolder brands and she has lots to share to help you think about what you are doing with your brand.

With so many gold nuggets being dropped in this episode, you are not going to want to miss her live.  Make sure to grab your seat and hotel room for the Be Unstoppable Bootcamp before they are gone. These “Tickets to paradise will NOT last! Visit http://beunstoppablebootcamp.com now.

 

Key Takeaways:

  • In branding, it is all about strategic decisions and consistent actions that build a standout brand.
  • People are attracted to brands for several reasons, but you must understand why they are attracted to yours.
  • Branding is more than a logo, it is giving people a reason to do business with you.
  • A bold brand is going to do three things; draw in new leads, convert faster, and retain business
  • Take your culture from inside your company and move it outside.
  • Learn how you take that generic blandness and make it impactful and relevant to your target audience.
  • Every person on your team is equally a promoter as they are a protector of your brand.
  • You must be actively engaged in every aspect of the business, from how you answer phones to responding on social media.
  • Ultimately you have to put as much attention to the front as you are to the back end of your customer experience.
  • Build a brand review with your team on a quarterly basis, to keep it fresh in front of you

 

About our Guest:

Selah Hirsch is a brand builder! As a Brand Strategist through her company Express My Brand, Selah specializes in high-impact brand development. Every day she works with brands to strengthen the way they talk about what they do, how they do it, and why it matters.

She brings magnetic energy and vision to help business owners and teams breakthrough the generic and discover their better, bolder brand. Her high-energy presentation style includes powerful stories and hands-on moments, leaving a memorable impression and handles for practical application.

When Selah isn’t building brands, you can find her cheering on her husband Michael in Ironman triathlon races, volunteering at Loveworks Leadership, and chasing her three high-energy kids around.

Email: [email protected]

Social Media: @expressmybrand

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

 

Mike Stromsoe
The Unstoppable Profit Producer
Call 800-770-9984
Email [email protected]

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