CIB Group Services LLC

The best B2B sales career…that you've likely never considered: commercial insurance broker. 10 reasons why you should choose commercial insurance broking: 1. Uncapped, high six-figure income potential. Your earnings can grow to $250K, $500K, even $1M or more. Because you earn residual commissions. On every client. Every year. 2. Consultative, trusted advisor B2B Sales. Your clients are CEOs, CFOs, and business owners. You consult with them to understand their business and risk management needs, then propose solutions. You become a respected, trusted client advisor. As essential as their lawyer and accountant. You provide an important, big-ticket service and invaluable consulting advice. If you want to sell something important to important people -- this is it. 3. Residual Commissions from Repeat Sales. Commercial insurance programs renew every 12 months. So your income rises as you stockpile residual commissions when your clients renew. Residuals are the compound interest formula that lead to growing your net worth. 4. Relationship Sales. You'll enjoy the long-term satisfaction that comes from developing strong ongoing relationships with your clients. Many of your clients become your friends. And, after cold prospecting in the beginning, you'll find most of your clients through networking and referrals. 5. Stable Industry. The insurance business is much more resistant than most to normal economic cycles. Because every business always needs insurance to cover their exposures and risks. Insurance demand will forever remain rock solid. 6. A Satisfying and Rewarding Long-Term Career. You will learn a profession and gain knowledge and skills that will place you in demand. As a top producer, you will never be without work. This is a lifetime professional B2B sales career. 7. Business insurance sales is much different than other insurance sales. Your prospects and clients are business people, CEOs and business owners. They need insurance and your advice. You are a consultant to them. You will not be selling home/auto/life insurance to friends and family. 8. Great Work Culture. You can choose to be an employee of a professional firm in a local, community-active and entrepreneurial organization. Without the bureaucracy, politics, and hassles of large corporations. Or if a huge corporation is your preference, you can work for a mega-broker. 9. Build Your Own Business – Inside a Business. You will build your own book of business. You decide the types of businesses and people that you want as your clients. You get to do the best part of having your own business -- client development. Without a financial investment or management headaches. All the support structure is already built for you. 10. Work/Life Balance. Your clients are local. You can build your career where you live and work. So you can be home every night if that's important to you. #sales #b2bsales #insurance

Beware sales career culdesacs. Here's one I see early career salespeople doing that can get them stuck. Pharma rep. Hard to move from that ham-and-egger gig into a real B2B sales career. #insurance #insuranceindustry #sales

Beware sales career culdesacs. Here's one I see early career salespeople doing that can get them stuck. Serial SaaS SDR job hopping. Every year a new SDR job at a new fledgling software company. OK, maybe try it for a year or so. But know that setting up discovery calls for other people does not a sales career make. Get yourself into a full cycle sales job. In a serious industry. #insurance #insuranceindustry #sales

Beware sales career culdesacs. Here's one I see early career salespeople doing that can get them stuck. Staying too long in a starter sales job (think: car rental, uniform sales, payroll sales). As a thumb rule, 2 or maybe 3 years is about the right tenure. Get your foundation sales experience. Then step forward. 4+ years is too long. #insurance #insuranceindustry #sales

Client Question: Have you had success recruiting commercial bankers - like loan officers - into the commercial insurance broker (producer) career? Answer: No. Not saying it's impossible. Has not proven to be a fertile recruiting source. Finding a “hunter banker” is like finding an “honest politician”. #insurance #insuranceindustry #sales 

I hear a lot of "not interested" reasons from B2B salespeople. For why they don't want to explore a pivot into the commercial insurance broker (producer) career. Hey, I understand. This career choice isn't for everybody. Everybody's entitled to their own reasons. But here's one that's, well, plain dumb and makes me laugh : “I don’t want to have to get a state insurance license”. Huh? Getting your insurance license is the easy part (unless you're a convicted felon). #insurance #insuranceindustry #sales

Flashback to commercial underwriting trainee school at The St. Paul Companies (now p/o Travelers...may The St. Paul RIP in the insurance company graveyard). Teacher: Want to know how to underwrite any business? Be able to answer these 3 questions: 1. WHAT do they do? 2. HOW do they do it? 3. How WELL do they do what they do? He drilled this lesson into our newbee underwriter cortexes by having us repeat these 3 questions aloud. Over and over again. In a rhythmic chant. Until the class was shouting the questions. (Yes, this was bizarre. Yet 4 decades later this lesson remains stuck in my brain. So rhythmic chanting works.) 2 takeaways. One, for producers: this is what your underwriters need to know when you submit a risk to them. Make it easy for your underwriter. Give them the answers. Two, for anyone looking to get hired: These are the same 3 questions that recruiters and hiring managers look for when they review your resume, your LinkedIn profile, interview you. Make it easy for them. Give them the answers. #insurance #insuranceindustry #sales

B2B salespeople choose to play a short game or a long game. Short gamers focus on salary, current year’s on-target earnings (OTE) and President's Club rewards trips. Long gamers focus on total rewards, residual earnings and building equity. Short gamers rent sales jobs. Long gamers invest in a sales career. If you’re economically stressed and are ok staying that way, play the short game. If you’re not, play the long game. #insurance #insuranceindustry #sales

"What's the first year OTE?" "What's the starting salary? Those are the wrong questions to ask upfront when considering a potential B2B sales career opportunity. It's why too many B2B salespeople allow themselves to be trapped in industries and companies with little economic upside. Commercial P & C insurance is a rare industry where salespeople earn what they are worth. $300K, $500K, even $1M or more. But they don't earn that kind of serious 6-figures in the first year! #insurance #insuranceindustry #sales

Harsh reality check if you’ve been let go from your job: your starting salary expectation for your next job should not automatically be the salary in the job that you just got laid off from. #insurance #insuranceindustry #sales