Business Acumen Resource Guide

Business Acumen Resource Guide

OV ERV I E W "Business Acumen" - The ability to have good judgment in business. This definition requires that we obtain quite a bit of knowledge and experience to be able to have good judgment. Our ability to advise customers and prospects will be determined by what we know, how we can tie it to what they do, and connect to what we do. The Business Acumen Development System is designed to build the business acumen of our Producers. Producers will choose with their supervisor which section is best suited for their development (Core, Maintenance, or Advancement). The Producer will choose from the list of periodicals and develop a plan for weekly/monthly development. To maximize personal growth and business acumen development, it is recommended that all books on the list are read over a period of time. Please utilize your Agency Executive for feedback, questions, and support in this development. I. BUSINESS ACUMEN CORE The system starts with the Business Acumen Core Program. The Business Acumen Core program is mandatory for all Rookie Producers with little to no insurance experience. It is also a good starting business acumen process for someone wanting to start with a good core. II. MAINTENANCE Business Acumen Maintenance is for Producers who need to continue business acumen development and need a path. III. ADVANCEMENT Business Acumen Advancement is for Producers who have a good foundation of business acumen but want to sharpen their game and maintain a peer level relationship as an Advisor to their clients. IV. MY PLAN “My Plan” is a form to put an individual plan together for the producer. Business Acumen Resource Guide page 2

I . BU S I N E S S AC UM E N C OR E Periodicals WHAT MY RESPONSIBILITY ORGANIZATIONAL SUPPORT IIsurance magazine for 10 mins / day Read and determine how what you are reading will turn into value in your communication to a prospect or client. Sales Leader will review Advisen Front Page News daily Read and determine how what you are reading will turn into value in your communication to a prospect or client. Sales Leader will review USA Today (free app) for 10 minutes / day Look for examples of risk and think of how you can use those stories in future client / prospect meetings. Journal and look for application in business. Sales Leader will review Economist Journal and look for application in business. Sales Leader will review InCite Wiki Risk Look up a risk and read through it. Journal and look for application in business. Sales Leader will review Wall Street Journal Local News Sales Leader will review Sales Leader will review Books WHAT MY RESPONSIBILITY ORGANIZATIONAL SUPPORT “The Challenger Sale” by Matthew Dixon Read and write in a journal what you are learning. Sales Leader will review “Spin Selling” by Neil Rackham Read and write in a journal what you are learning. Sales Leader will review “A Seat at the Table” by Marc Miller Read and write in a journal what you are learning. Sales Leader will review “Brand Aid – Taking Control of Your Reputation Before Everyone Else Does” by Larry G Linne and Patrick Sitkins Develop and manage your personal brand Sales Leader will review Business Acumen Resource Guide page 3

I I . B U S I N E S S AC UM EN M AI N T EN AN C E Periodicals WHAT MY RESPONSIBILITY ORGANIZATIONAL SUPPORT Insurance news (articles, industry trade mag, etc.) Read 15 minutes per week minimum. Discuss with another Producer Advisen Cyber Digest (Daily version) Read Cyber front-page news articles each week Discuss with another Producer or group discussion in sales meeting. Read USA Today (free app) for 10 mins / day Look for examples of risk and think of how you can use those stories in future client / prospect meetings. Give email feedback to Sales Manager Wall Street Journal Journal and look for application in business. Give email feedback to Sales Manager Harvard Business Review Look for articles that would be interesting to your clients. Give email feedback to Sales Manager Fortune Magazine Journal and look for application in business. Give email feedback to Sales Manager MSN Money Read one article per day. Local News Journal and look for application in business. Give email feedback to Sales Manager Give email feedback to Sales Manager Books WHAT MY RESPONSIBILITY ORGANIZATIONAL SUPPORT “The Trusted Advisor” by David Maister Read and write in a journal what you are learning. Give notes to Sales Leader and discuss. “Getting Naked” by Patrick Lencioni Read and write in a journal what you are learning. Give notes to Sales Leader and discuss “Blue Ocean Strategy” by Renee Mauborgne and W. Chan Kim Read and write in a journal what you are learning. Give Notes to Sales Leader and discuss Business Acumen Resource Guide page 4

I I . B U S I N E S S AC UM EN M AI N T EN AN C E Books: Continued WHAT MY RESPONSIBILITY ORGANIZATIONAL SUPPORT “Outliers: The Story of Success” by Malcolm Gladwell Read and write in a journal what you are learning Give notes to Sales Leader and discuss “The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results” by Gary Keller Read and write in a journal what you are learning Give notes to Sales Leader and discuss Mentoring WHAT Ask a Senior Producer to meet with you monthly to discuss experiences of cost reduction with clients. MY RESPONSIBILITY Ask for the meeting and set it up. ORGANIZATIONAL SUPPORT Support of Senior Producer Business Acumen Resource Guide page 5

I I I . BU S I N E S S AC U ME N ADVA N C E M E N T Periodicals WHAT MY RESPONSIBILITY ORGANIZATIONAL SUPPORT Insurance news (articles, industry trade mag, etc.) Any news where you can find a risk issue that our company can address Read 15 mins per week minimum. Discuss with another Producer Lead a discussion at the next agency sales meeting about this risk. Sales Leader Seek out Emerging Risks in any periodical magazine Lead a discussion at the next agency sales meeting about this risk. Sales Leader Wall Street Journal Look for strategic articles that you can give to clients to add value. N/A Harvard Business Review Read for interesting stories to share with you clients pertaining to risks. N/A Financiel or C Suite Business Magazine (Forbes, Fortune, CFO, or other) Journal and look for application in business. N/A BBC News Online Look for global news that has relativity that can be communicated to your clients. N/A Local News N/A N/A Business Acumen Resource Guide page 6

I I I . BU S I N E S S AC U ME N ADVA N C E M E N T Books WHAT MY RESPONSIBILITY ORGANIZATIONAL SUPPORT “Drive: The Surprising Truth About What Drives Us” by Daniel Pink “Seeing the Big Picture: Business Acumen to Build Your Credibility, Career, and Company” by Kevin Cope “Now Discover Your Strengths” by Marcus Buckingham Read and write in a journal what you are learning N/A Read and write in a journal what you are learning N/A Read and write in a journal what you are learning N/A “First, Break All the Rules” by Marcus Buckingham Develop your personal brand and manage that brand N/A “First, Break All the Rules” by Marcus Buckingham Develop your personal brand and manage that brand N/A “The Advantage” by Patrick Lencioni Read and write in a journal what you are learning N/A Mentoring WHAT Become a mentor to a younger Producer MY RESPONSIBILITY Teaching and mentoring can increase your accountability and personal development. ORGANIZATIONAL SUPPORT N/A Business Acumen Resource Guide page 7

I V. M Y PL A N My Business Acumen Plan: Resource Action Time Frame Support Person Wall Street Journal Read the business/finance section and identify topics that would be interesting to my prospects/clients. Daily Sales Manager “The Challenger Sale” Take notes of key items learned. Share notes with my Sales Manager. Read 30 minutes every night before bed. Sales Manager Mentoring Meet with Mentor to get stories of successfully helping clients. Every Friday Mentor Business Acumen Resource Guide page 8