Where to Find Producers

Most every broker is looking for new producers.
 
But, where to find them? 🤔

1️⃣ Pull the successful producers away from your competitors.
➡️ This option pretty much guarantees they'll be successful because they're already doing the job somewhere else, but these folks are typically well taken care of because their employers know they're great. It'll be an uphill battle to pull them away. You're also going to pay top dollar. Be sure they are truly good at bringing in new business, and not just sitting pretty on a big book, because their non-compete will force them to beat the streets and drum up brand new opportunities for the next 2-3 years.
 
2️⃣ Uncover the small percentage of folks in carrier land who have the personality for sales, but don't realize it or see it in themselves - then paint the picture and teach them the sales piece.
➡️ This one is tough.... most people on the carrier side won't hack it as a producer. Often marketing reps who are out "selling" will be confused for great producer candidates, but here's the thing: What they are doing is not sales, even though our industry loves to call it that. Opening totally cold doors with strangers is not the same as an agency sales call -- that is, a visit with people in your industry who are expecting (and need) you - with donuts and hit lists. Find the right people though and you can get lucky - I was a #2. 😁
 
3️⃣ Find folks who are great at sales in other industries and teach them insurance.
➡️ Think folks who are great at B2B sales (copiers, office furniture, payroll) but who are transactional in their product and sales process and get no residuals. With a career in Employee Benefits or Commercial Insurance sales, they'll become a knowledgeable consultant on a complex topic, creating a more stable and lucrative career path, and earn recurring revenue every year as they build. Paint that picture for them! If seeking these folks, I highly suggest working with Jim Caragher.
 
4️⃣ Find total newbies and train them from scratch.
➡️ Big gamble here...you won't know til ya know.

Upside is that you can usually get these folks in cheaper, and they're far more readily available . Downside is...the failure rate is high. This works well only if you find the right person AND you have a good infrastructure/mentorship model to train them.