Insurance Agency Growth Strategies: Lessons from a Multi-Million Biz Owner

A few months ago I did a short interview with Albert Preciado.

 

There were some real pieces of gold in my interview with him.. especially when it comes to insurance agency growth strategies and mindset.

 

These days he’s a multi-million dollar entrepreneur…

 

But he grew up poor as can be, in a ghetto.

 

With his mom and dad having came to the US from Mexico.

 

We talked a lot about his journey – how he went from zero to where he is now.

 

So in this post, I’m gonna share 3 of my biggest takeaways.

 

While it may not be directly related to insurance…

 

But if you’re into entrepreneurship in general, these lessons might help you out.

 

Same way they did for me.

1. Connecting two previously unconnected ideas can make you a LOT of money

 

When Albert first got started as an entrepreneur, he launched a mortgage company.

 

But as he tried to apply various insurance agency growth strategies…

 

And recruit agents…

 

Reality hit him hard.

 

No one wanted to join him.

 

I mean, why would they?

 

Albert was still a ‘nobody’ at the time…

 

And there were dozens of other mortgage companies that were more well known.

 

So, he struggled to grow his company the ‘traditional’ way…

 

But that all changed when he came across Tai Lopez.

 

Say what you want about the guy…

 

But there’s no denying he’s an expert marketer.

 

Albert recognized that too…

 

And that’s when he connected two previously unconnected ideas.

 

Why don’t I do what Tai’s doing… but in the mortgage industry?

 

See, up until then…

 

Nobody had ever done marketing like Tai Lopez inside the mortgage industry.

 

Nobody was driving around in Ferraris, or showing off a luxury lifestyle.

 

So Albert went out and got himself a Ferrari (says he could barely afford it back then…)

 

Then took the same ‘flashy’ approach with his marketing that Tai was doing at the time.

 

And ever since then, Albert hasn’t looked back.

 

He blew up, and his ENTIRE business changed forever.

 

Simply ‘cause he was the first guy to connect two previously unconnected ideas.

2. “Haters” are a great measurement of success

Haters are everywhere.

 

And the internet has only made it 100X worse.

 

But according to Albert, when it comes to haters…

 

“You gotta love ‘em!”

 

And even though some of you guys can be absolutely brutal…

 

I agree with that statement 100%.

 

Why?

 

‘Cause nobody hates on broke people.

 

Nobody hates on stupid people.

 

I promise I’m not trying to sound like an egomaniac here…

 

But it’s true.

 

People only hate on others when they think they’re smarter, richer, better looking…

 

Or when they see someone else out there making moves, while they’re sittin’ still on the couch.

 

Albert says every time he gets a new hater, he’s happy.

 

‘Cause it means he’s doing something right.

 

I can imagine it might’ve even happened to you already as you try to scale the agency.

 

Sometimes all it takes is one little post on FB about how you’re making moves…

 

Suddenly all sorts of nasty people find their way over to your profile.

 

Including people you thought were your friends.

 

And of course, they gotta say their piece to make sure you don’t go further than them in life.

 

So point is, you WILL encounter these people at some point in your journey.

 

But don’t let ‘em get to you.

 

And even further than that…

 

Do your best to turn it into FUEL.

 

‘Cause chances are it means you’re doing something right.

 

Alright, let’s move onto the 3rd lesson…

3. Attention is as valuable as money these days 

This is kinda similar to lesson 1…

 

But we need to talk more about this.

 

‘Cause it’s a VITAL concept to understand if you wanna be successful in any sort of business.

 

At the end of the day though, it’s simple.

 

If you don’t have eyeballs on you, your business, or whatever it is you’re sellin’…

 

Your business is gonna crumble.

 

‘Cause you’re not gonna be making sales.

 

This is why Facebook made over $25 BILLION from advertisers last year.

 

And it’s why I ran a FB ad with a Lambo, for example.

Alotta people see ads like this and right away yell “scammer!”

 

But truth is, it worked.

 

And even tho I had to fight thru some nasty comments…

 

It helped me achieve my goal:

 

Get more agents inside Fully Covered…

 

So that I can HELP them scale and automate their agencies.

 

Alotta people will take the moral high ground and say that’s wrong.

 

But if at the end of the day, it’s a win-win for everyone involved…

 

I just can’t agree.

 

And even aside from that…

 

The reality is you gotta play the attention game – at least at some level…

 

If you wanna grow a business.

 

This holds 100% true for insurance agencies too.

 

And it’s why one of the agency growth strategies I teach is to move AWAY from the old-school tactics of donuts and gift cards…

 

Because they’re played out.

 

And they do a horrible job at capturing attention and helping you stand out.

 

Make sense?

Harsh Truth! Your insurance agency growth strategies might not be working because of the people you’re hanging out with

“You are the average of the 5 people you associate with the most”.

 

It’s a quote I’m sure we’ve all heard a hundred times by now…

 

But it’s SCARY how true it is.

 

Here’s an example:

 

For alotta people out there…

 

Whether that’s employees, insurance agents, other kinds of entrepreneurs…

 

Making say $20K a month is more money than they could ever dream of.

 

And because everyone they surround themselves with ALSO makes less than $20K a month…

 

(Usually far less…)

 

It’s a number that just seems unrealistic.

 

Or at best, it’s the ‘ceiling’ of what they think is possible.

 

They might even laugh and call you crazy for saying you could hit those kinds of numbers.

 

And sadly, this stops alotta people from really pushing hard towards their goals.

 

So then, what happens when you hang out with people who make $50K a month?

 

Or $100k a month?

 

I don’t really know how to explain it…

 

But suddenly you start thinking like them.

 

You realize that $20K a month is not only realistic…

 

But it’s completely doable.

 

‘Cause unlike everyone in your old circle, where $20K a month is a pipe dream…

 

Now everyone’s telling you $20K is easy.

 

And that COMPLETELY changes your mindset.

 

And it completely changes what you believe is possible for yourself.

 

When everyone you’re around is making 50… 75… $100K+ a month…

 

You start thinking…

 

“Well damn. Why can’t I do that too?”

 

This is one of my big “secrets” to my growth over the past years.

 

Simply going out of my way to spend time with high-level achievers.

 

People who’d be considered “better” than me.

 

And learning everything I can from them – including when it comes to mindset.

 

Even recently, I met up with Billy Gene (Billy Gene is Marketing) in San Diego.

 

Why?

 

Well, for one…

 

There’s probably a million and one things he could teach me about marketing.

 

And I came away with a TON of ideas to help me and my students get even better results for our businesses and our agencies.

 

But the second reason…

 

Is that just because I “made it”, or hit some certain level of success…

 

Doesn’t mean I can just flip off the switch and stop learning.

 

That would be a HUGE mistake.

 

And it’s responsible for probably hundreds of entrepreneurs falling off the map.

 

And it holds true in the insurance business too.

 

Alotta of people avoid hanging out with people who are “better” than them…

 

Because they don’t like feeling inferior.

 

They wanna be the big shot in the room.

 

But that’s the wrong mindset to have.

 

‘Cause hanging out with people who are “better” than you…

 

Who are smarter / richer / more successful than you…

 

Helps you step up to THEIR level.

 

And it helps push you out of your comfort zone.