Winning Teams Have Infrastructure

Winning Teams Have Infrastructure

Back at the end of the NFL season, I remember listening to a sports broadcast discussing the similarities of the four franchises in the conference championships. All these teams had something in common: infrastructure. It’s an important ingredient for success in sports AND business. 

The host pointed out that each team had built a championship contender through various methods: free agency, the draft, retaining talent through long-term contracts or some key trades. Two teams had MVP quarterbacks. Two other teams had rising quarterbacks. Some teams relied on the run more than others, and a couple relied heavily on the short passing game. The methods were different, but all led them to winning. 

If you’re going to succeed in business, you need to find a way to build (or partner with someone that has) infrastructure around you. In the financial services industry, you need to have:

  • People who can support your sales efforts – Product specialists are key to positioning the correct solution with the right client situation.

  • Post-sales support – You need to be able to get your pending business through the pipeline efficiently, with little need to touch paper after the client signs. You need to be able to focus on the next client solution. 

  • Marketing – You must have a team that understands our business, your business, your clients’ needs, and how to brand that story repeatedly.  

  • Cutting-edge resources – Your staff needs to supply a flow of ideas and clients to you so that you are always looking for ways to drive revenue through your office. A good brokerage agency can provide ideas through data-mining and understanding the coming trends in the industry. 

  • Financial reporting – Just like you ask of your clients, you must be able to understand where you earn your revenue and where you spend it. Make sure you are getting all the commission reporting from your carriers to make your life easier. Establish processes so you can monitor the financial health of your business. 

If you don’t have the resources to reinvest in your business today, then you should partner with organizations that can help with the above areas. You might find that their partnership is more valuable than having a single person on staff, and it may be more profitable to outsource many of the infrastructure needs listed above. If you’d like more information about creating an infrastructure around your office, give us a call at Ash Brokerage. 

The Bottom Line: Successful teams and businesses have outstanding infrastructures surrounding them. Great producers focus on activities that solve client problems, while others handle the non-revenue activities.