Episode Details

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht explains the two main reasons why writing small accounts is a terrible strategy for an insurance agent and why THINKING BIGGER and writing larger accounts makes everyone happier. "Small Thinking" is a plague that may allow you to pay your monthly electric bill but it will never allow you to build wealth.

Episode Highlights:

• Why is thinking small, a major problem? (2:55)
• How does Charles' approach to work differ from that of 20 years ago? (5:30)
• Charles explains how to compensate for inexperience, as a young agent. (6:56)
• Is there a difference in process when prospecting large accounts versus smaller ones? (8:14)
• What happens when you’re successful at writing small accounts? (9:37)
• Charles details a conversation he recently had with the service team. (13:00)
• What should your target goal be, as a starting point? (13:02)
• Charles shares his message for agency principals. (14:44)

Key Quotes:

• “You have to stop thinking small. And, you have to start going big. That's what you have to do. You really have to. I can give you all the tools, I can give you everything that you need to do, if you will, to make that leap to make that jump...But, you have to step off the plane.” - Charles Specht
• “You'll make enough money to pay the electric bill, to pay the rent, or the mortgage or whatever it is. And you know what? Maybe every once in a while, go out to a nice little restaurant with your wife and your kids, and so forth. But, you're not going to build wealth.” - Charles Specht
• “I have had a chance to talk with lots of different insurance agents. They message me on LinkedIn, they call me, they shoot me an email, whatever it is. I have a chance to talk to a bunch of the vast majority of them out there. I know their problems could be solved, if they would simply start thinking bigger.” - Charles Specht

Resources Mentioned:

• Reach out to Charles Specht
• Permission Network Insurance Agency, Inc.