Let’s face it! Insurance agents venture into the market with the hope of building a great insurance agency. Some succeed while others flounder. Why is that?… Maybe it is because some insurance agents are not using all the tools they have in their tool boxes. Ever heard of an Annual Plan? Let’s dive in some.

Why a Annual Plan?

An annual Plan guides you through every critical step you should take to start an insurance agency or increase your sales. If you’ve been selling insurance, you must already be aware that making sales comes with a lot of twists along the way.

To remain focused, you need to have a reminder that describes what you should be doing daily to achieve your sales goals. You need an annual plan that gives you a roadmap and keeps you organized as you do your work.

Beyond keeping your focus on goals, an annual plan can help you allocate resources, streamline workflows, improve communication, and most importantly, grow your business. Once you get the agency going, don’t have an unnecessary setback by not reviewing your annual plan periodically.

What Are the Key Components of an Effective Annual Plan?

A annual plan should not necessarily be a complicated one. You can write a simple one-page paper or a Google doc that you can access anywhere and anytime. As long as it captures your goals and gives a clear roadmap of achieving them, that’s a good plan.

To make your plan more realistic, you need to break down your goals into smaller achievable monthly, weekly, and daily goals. Usually, big goals might look unrealistic; hence, the need to break them down into bite-sized pieces.

For extra credit, include in your plan the ideas or the steps you can take to achieve your goals. For instance, if one of your goals is to get five referral clients per quarter, you can make a list of clients you would like to approach for those referrals broken down by quarter or month.

In a nutshell, your annual plan makes it easy to carry out your daily tasks. So, stop dreaming or just thinking about those big business goals. Effective insurance agents do the big-picture thinking and planning, and then write it all down on paper to carry it out.

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