27 episodes
The Automatic Insurance Agency Wade Galt, CPCU, CLU
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- Business
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5.0 • 3 Ratings
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This show teaches Insurance Agency Owners how to Help More People & Make More Money... In Less Time... Doing What You Do Best.
We share proven fundamentals, strategies, and tools that equip you to build a team of professionals dedicated to growing their income & your agency.
If you're ready to start living the life and creating the business you imagined when you first got started, you're in the right place.
Topics will include
Team Member CompensationAgency Profitability (Overall and by Team Member)Marketing Success & ROISocial Media Marketing & Network Marketing StrategiesMultiline Sales Process Implementation to Increase Client Reviews, Life & Health Insurance, Mutual Fund, & Other Financial Service SalesTeam Member Role ClarityAccountabilitySales Activity OptimizationStaffing for Optimum Profit & Building the Agency DynastyRecruiting Process for Superstars (Retention Experts, Auto / Fire Acquisition Specialists, Multiline Review Experts & Agency Automators)DelegationWorking a 4 Days per Week or Less while Maintaining Excellent ResultsLifestyle Optimization (Creating the Life You Most Desire Outside of Work)
About Wade Galt, CPCU, CLU
Wade has 35+ years in the Multiline Insurance Agency Industry...
8 years’ experience as a part-time team member in a multiline insurance agency7 years as a productive employee in a Fortune 35 Multiline Insurance Company (2 years in claims, 5 years in Agency Sales Management & Training plus as a Subject Matter Expert for Sales Process Software Design)Over 20 years as a software company founder & owner, corporate consultant, sales process implementation coach, accountability expert, recruiter of superstar talentProvider of mental health counseling (psychology) servicesLife coach and 3-Day Weekend Entrepreneur
Wade's Innovations in the Multiline Insurance Industry include...
INVENTOR of the SMART Bonus SystemCREATOR of the Automatic Insurance Agency Coaching ProgramDEVELOPER of the 80/20 Multiline Insurance Sales Process & The Family Insurance Coach ProgramFOUNDER of 3-Day Weekend Club (and the 3-Day Weekend Entrepreneur Coaching Program)
Wade practices (and enjoys) what he preaches and enjoys a 3-day weekend over 90% of the time.
Learn more about Wade on Linked In.
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27. Paying Profitable Base Salaries in Your Insurance Agency
Make Each Team Member Profitable by Rewarding them for Retaining Your Renewal Book
Pay base salaries based on the amount of business each team member services / renews to create fair compensation, high employee retention rates, and long-term profitability.Offer draws or advances against bonuses to attract talented individuals hesitant to work for commission-only. Evaluate each employee's profitability and their contribution to the agency's revenue.Confirm that employees with base salaries generate enough renewals to make the agency & the owner a profit.Paying a base salary to a P&C Rainmaker who only focuses on business acquisition (and does no service or retention work) can result in financial losses for the agency.
START WITH THE eBOOK
Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them
SCHEDULE A STRATEGY SESSION
We’ll Discuss Your
Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal? Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?
Then, We’ll Discuss the Plan & Expected Results
Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.The best way to help you achieve your goals, based on your style and time available to implement.Your anticipated time investments & money investments.What guarantees we can make
Schedule a Strategy Session -
26. Staffing Your Insurance Agency for Optimum Profit
Save $25k to $50k or More in Staffing Expenses
This Year & Every Year by Having
the Right Number of Team Members
at the Right Base Salary Amount
Staffing the agency profitably and prioritizing the renewal agency, focusing on PNC renewals, is crucial.Determining the right number of team members can be challenging and often relies on inadequate information.Analyzing income statements separately for renewal and first-year sales agencies is recommended to ensure profitability.Overstaffing can be costly, while proper staffing can lead to significant savings and financial growth.Paying base salaries helps incentivize employees to generate renewal sales, which are crucial for stability and success.
START WITH THE eBOOK
Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them
SCHEDULE A STRATEGY SESSION
We’ll Discuss Your
Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal? Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?
Then, We’ll Discuss the Plan & Expected Results
Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.The best way to help you achieve your goals, based on your style and time available to implement.Your anticipated time investments & money investments.What guarantees we can make
Schedule a Strategy Session -
25. The 1st (Profitable) Hire for Your Multiline Insurance Agency
Many insurance agency owners start as solopreneurs and get caught by the golden handcuffs of their profit MARGINS without focusing on growing TOTAL NET PROFIT.
Learn WHO should be your best hire, so you do it safely & affordably.
Simplify your hiring process by focusing on tasks, levels, and skills rather than personal preferences.The easiest tasks to train and delegate should be prioritized to minimize time and money investments.Don’t overcommit while making a new hire and not neglecting the decision altogether.Evaluate the return on investment of time and income when considering delegating tasks.Hire a personal assistant to free up time for high-impact tasks.
START WITH THE eBOOK
Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them
SCHEDULE A STRATEGY SESSION
We’ll Discuss Your
Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal? Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?
Then, We’ll Discuss the Plan & Expected Results
Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.The best way to help you achieve your goals, based on your style and time available to implement.Your anticipated time investments & money investments.What guarantees we can make
Schedule a Strategy Session -
24. Staffing Your Insurance Agency Dynasty
How Insurance Agency Owners Staff Profitable Multiline Agencies that are Great for Decades -- So They Never Have to Retire.
Learn which producer roles to hire... Learn how many to hire... Optimize Auto & Fire Insurance sales... Hire producers to pivot to Life, Health, Disability, Long Term Care & Bank Sales... Hire commission only P&C producers to grow your book... Develop Client Review Specialists to increase your multiline sales conversion rate... Bring in a talented office manager / personal assistant... Escape the day-to-day operations of the agency... Do what you do best & enjoy most in the agency and delegate the rest... Work Less, Make More & Create Your Most Desired Lifestyle...
START WITH THE eBOOK
Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them
SCHEDULE A STRATEGY SESSION
We’ll Discuss Your
Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal? Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?
Then, We’ll Discuss the Plan & Expected Results
Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.The best way to help you achieve your goals, based on your style and time available to implement.Your anticipated time investments & money investments.What guarantees we can make
Schedule a Strategy Session -
23. Treat Your Agency Like a Camry, Not a Lamborghini
How to get the most from your insurance agency by having expectations that are grounded in fundamentals and reality.
HIGHLIGHTS
[00:35:86]: Growing Your Agency Too Fast Often Leads to Fast Losses
[01:19:33]: Long-Term Agency Growth is Based on Relationships
[02:13:81]: Only Grow with Those Who Will Be With You in 10 Years
[03:02:94]: Diversify Your Insurance Agency or Business Portfolio if Bored
[03:49:63]: Don’t Try to Turn Your Agency (a Camry) into a Lamborghini
START WITH THE eBOOK
Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them
SCHEDULE A STRATEGY SESSION
We’ll Discuss Your
Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal? Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?
Then, We’ll Discuss the Plan & Expected Results
Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.The best way to help you achieve your goals, based on your style and time available to implement.Your anticipated time investments & money investments.What guarantees we can make
Schedule a Strategy Session -
22. Should I Hire an Unlicensed Person
When you should not hire an unlicensed person, plus when and how you should hire a person without a license.
START WITH THE eBOOK
Get the free ebook The 23 Reasons Most Insurance Agency Owners Can't Enjoy a 3-Day Weekend Lifestyle - And How to Fix Them
SCHEDULE A STRATEGY SESSION
We’ll Discuss Your
Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal? Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?
Then, We’ll Discuss the Plan & Expected Results
Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.The best way to help you achieve your goals, based on your style and time available to implement.Your anticipated time investments & money investments.What guarantees we can make
Schedule a Strategy Session
Customer Reviews
Super clear
Wade is super clear on exact actions and steps every insurance agency should take! The fact that the episodes are shorts makes sure you don't get overwhemeled with to much to do so you do actually take the action!
A Great show for Insurance Professionals
Let Wade guide you and help you love the process of growing your business! An excellent show full of valuable tips for the Insurance Professional! Coach Riana Milne
If you want to grow your insurance business...
… you’ve got to help your team be more successful. Learn the secrets of growing a successful insurance agency (hint: help you team to succeed) by subscribing to this show’s wealth of information!