Insurance Agent Forum

[al3]

"It is important to understand that 80 percent of your peers are only delivering 20 percent of the results. And you know what? They’ve got nothing better to do than hope you’re not successful, either — so it’s not logical to accept their advice. "

From: http://tinyurl.com/32lqlv

Al

[fla2cali]

Is this true... or what?

This is a rhetorical question right?

[al3]

Originally Posted by fla2cali

Is this true... or what?

This is a rhetorical question right?

Well... I thought it was... but on further reflection I'm not sure. Let's just say that the quote is an interesting observation on the part of the author. Only those far more experienced than I are really qualified to render expert judgement. The rest of us just go with a gut-feeling, and I'd say from my 30 years in business that the statement is accurate. YMMV.

Al

[marcircus]

Not hard to believe:

The Pareto principle (also known as the 80-20 rule, the law of the vital few and the principle of factor sparsity) states that for many phenomena, 80% of the consequences stem from 20% of the causes.

http://en.wikipedia.org/wiki/Pareto_principle

[healthagent]

I agree with every point in that link. I read sales books all the time. Not only does it reinforce what I already know, but it provides motivation.

Another point to be made is you can be incredibally talented and follow all those points. It won't matter if you're working 2 hours a day.

[somarco]

#6 is good . . .

6. They listen to their peers.

Certainly plays out here.

As for the 80/20 rule, it seems to apply to a lot of things. Having seen plenty of claim studies over the years it is true (in round numbers) that 20% of the people generate 80% of the claims.

The challenge is in figuring out (in advance) who the 80% "good" risks are.

And, having in the past a stable of sub-producers it is probably closer to 90/10. About 10% of your producers will generate close to 90% of your business.

The trick (again) is to figure out who the 10% are and concentrate on them.