It happened over lunch with Mike.
Seems his brother Jake sells commercial insurance.
He has created a focused and tight niche directed at commercial divers. The guys and gals that weld, for example, gas lines in the middle of the ocean.
Jake has made quite a name for himself in his niche. He has found a way to go directly to the underwriting insurance company and skip the traditional intermediate brokerage relationship.
One day Jake received a call from one of the legacy brokers in this particular area. In fact, this broker had dominated the market for 30+ years – until now.
During the conversation, the broker asked in amazement how Jake got access to the niche.
How did he locate his prospects?
How did he get direct access to the carrier without a broker intermediary?
Jake explained that he does relentless research. He has spent unfathomable amounts of time dialing in the answers to these questions and dozens more.
In short, he became a recognized expert and trusted source of this highly specialized insurance product – and in the process, boxed out the legacy broker from a ton of business.
Then Jake asked the 60 year old broker one gutsy, honest question that you actually might expect from an up and comer half his age, “When did you stop learning?”
Are you still learning?
Do you devote Jake-like time to getting deep in the weeds of your craft?
In the absence of being a tremendous ‘student of the business’, you are at risk.
Risk of finding out that another wholesaler has figured out a way to reengineer the system.
Risk of realizing that your ‘standard operating procedure’ is now an antiquated approach.
Risk of losing market share, revenue, and profits.
Take a hard look in the mirror – you haven’t stopped learning, have you?
At Wholesaler Masterminds® Coaching will help wholesalers and their leaders stay on top of their game – learn more today.