This perfect storm we’re in will be visiting EVERY agency in 2009.  Soft market, not going away as soon as you want.  Recession, may be here for a MUCH longer time than any of us care for.  Consumers looking to the internet for insurance (and lazy, unprepared agents getting completely overlooked), a trend that is nearing “tipping point” proportions. 

My prediction?

1. Bystanders, spectators and patients of deer-in-the-headlights syndrome will get hurt, being unprepared for the next phase of commercial price reductions, the effect of the recession on their client base and/or the inevitable – but sudden – upswing in pricing. (Remember,history students, that hard markets cycle up quickly, soft markets, slowly. You better have your Plan B in place for the day that prices go up, clients go nuts and carriers go bye-bye. If the hard market hits on a Monday, you’d better have your Action Plan rolling by Wednesday.)

2. And, that NOW is the time for the serious and savvy agent to overcome the dinosaurs, out-market and out-fox those who still believe that what worked yesterday will work today. Yes, you’ll hear plenty of people who do NOT own your agency counsel patience because “everything comes back.” Indeed it does. After the great cataclysm that wiped out the world-wide population of T. Rex, pegasaurus and stegosaurus, Planet Earth came back and life came back. But the dinosaurs did NOT come back – and likewise, our industry will ALWAYS be here serving and protecting like the local cops. But – witness the travel industry – many of the agents who refuse to take up the sword and do battle with today’s foes will not. Again, you can get on the other side of this thing, enjoy a drink with me after the show and be bigger, stronger and badder than you ever dreamed of. (After all, take a serious look at the industry. We can both give it an “A” in Complacency Class – while you and I are earning “A’s” in Results Class.)

Over the next few weeks, with your permission, I’d like to share a series of strategies, tactics and techniques that agents can and SHOULD be using to “recession proof” their agency…AND to prepare for the (inevitable) return of the next hard market.

A warning is in order.  For years, I’ve been a tongue-in-cheek fan of the “lazy agent.”  In other words, the agent who gets OUT of day to day operations.  I still am and still believe that you must free yourself up to work ON your business.  But – and this is important – 2009 will very likely require you to WORK, to be more focused and to execute MORE strategies than years past.

That’s okay.  Most agents will be left laps behind you.

Meanwhile, you’re invited to join me in a free webinar on Thursday, but I need your registration to reserve you a “seat:” www.recessionproofyouragency.com.

Dominate Your Marketplace!

Michael

PS: I’ll do everything I can to respond to your comments and questions.  PLUS, I’ll give “Rebel Points” if you answer this question: what are YOU doing to make 2009 your Best Year Ever?