Finding a single point of contact is very important in our business. Luckily, I had the opportunity to meet someone who had the same goal and vision I had for my business – to specialize in one or two areas and later expand to doing all financial services. The difference was that he brought together partner firms to serve all the clients’ needs. A partner who brings in a client acts as the single point of contact. Now, we all share the same revenue and are partners by written agreement.
As insurance business owners, we want to provide the best advice in all areas of financial services. But in order to compete successfully, we must choose one concept and be willing to expand our knowledge in this concept. In other words, we must single-source ourselves to provide expert care in one area of service to clients. By doing this, we can provide the expertise, as well as maintain control of the client and have an income stream that’s meaningful and fulfilling.
Please share your single-sourcing experiences.
