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New Business and why it’s critical to the survival of any broking business

Driving up core income in any broking business is pretty easy, you can negotiate improved commissions, drive up admin fees or increase your usage of Premium Finance but most impact is short term. You’ll see income rise but it won’t be long before it plateaus yet again.

What I mean by New Business is winning clients that you currently have no relationship with whatsoever. Why is this area of your business so critical? Let me explain.

Now assume you get busy with a planned campaign for winning new business, this can only be with clients with whom you currently have no relationship as you’ve exhausted the opportunities with existing clients.

Now and only now are you starting to grow

Winning new business is one of the toughest areas of running a Broking business, some businesses don’t have the necessary people, others don’t have the necessary skills, and some find it all too daunting.

This daily blog will provide you with tips and assistance up till BIBA. According to Henry Ford “If you always do what you’ve always done, you’ll always get what you’ve always got”. So please open your mind to change and I look forward to sharing some daily top tips on the lead up to BIBA.

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Review & Learn

How often have you not won a case and convinced yourself that the potential client "just didn’t understand" and that you "did all that you could"? Taking a moment to review why you won or didn’t win a case is really important. It’s too easy to blame the customer for "just not getting it" or the insurer for "I could get the price".

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